Mark Iandolo News
SEC bans several market participants from penny sock industry
WASHINGTON (Legal Newsline) — The Securities and Exchange Commission (SEC) announced Dec. 16 that it has barred several market participants from the penny stock industry for their roles in alleged sham initial public offerings (IPOs) of microcap stocks that defrauded investors.
Morgan Stanley pays $7.5 million SEC fine to resolve alleged customer violations
WASHINGTON (Legal Newsline) — The Securities and Exchange Commission (SEC) announced Dec. 20 that Morgan Stanley & Co. LLC has agreed to pay $7.5 million after allegations it used trades involving customer cash to lower the firm’s borrowing costs in violation of the SEC’s Customer Protection Rule.
True Entertainment to pay $411,000 after allegations of not paying employees overtime
NEW YORK (Legal Newsline) — New York Attorney General Eric T. Schneiderman announced Dec. 19 that True Entertainment LLC, a television production company, has agreed to pay $411,000 in restitution to hundreds of employees who allegedly failed to receive overtime pay despite routinely working more than 40 hours per week.
U.S. examines allegations of Sixth Amendment violations by Orange County DA's Office
WASHINGTON (Legal Newsline) — The U.S. Justice Department announced Dec. 15 that it has opened a civil pattern-or-practice case against the Orange County District Attorney’s Office and the Orange County Sheriff’s Department.
FTC to mail 20,000 checks to alleged victims of Tax Club scheme
WASHINGTON (Legal Newsline) — The Federal Trade Commission (FTC) announced Dec. 16 that it will mail more than 20,000 checks totaling about $18 million to the alleged victims of the Tax Club scheme that targeted people attempting to start home businesses.
Six national retailers agree to stop using on-call shift scheduling tactics
NEW YORK (Legal Newsline) — New York Attorney General Eric T. Schneiderman announced Dec. 20 that six major retailers have agreed to stop using on-call shift scheduling after an inquiry by a multistate coalition of attorneys general.
Odebrecht, Braskem to pay combined $3.5 billion after allegations of international bribery
WASHINGTON (Legal Newsline) — The U.S. Justice Department announced Dec. 21 that Odebrecht S.A. (Odebrecht), a global construction conglomerate based in Brazil, and Braskem S.A. (Braskem), a Brazilian petrochemical company, will pay a total of $3.5 billion after allegations of bribing government officials around the world. The settlement resolves charges with authorities in the United States, Brazil and Switzerland.
Princeton University reaches agreement with DOJ, will strengthen its ADA-related policies
WASHINGTON (Legal Newsline) — The U.S. Justice Department announced Dec. 19 that Princeton University has settled allegations related to its treatment of students with mental health disabilities and its policies and practices for requesting reasonable modifications, withdrawals and leaves of absences.
SEC settles with CEO of Wilson-Davis & Co. for alleged SEC market structure rule violations
WASHINGTON (Legal Newsline) — The Securities and Exchange Commission (SEC) announced Dec. 16 that it settled cease-and-desist proceedings against the CEO of Wilson-Davis & Co., a Utah-based broker-dealer for alleged violations of SEC market structure rules.
DOJ to require AMC to divest 15 theaters before completing $1.2 billion acquisition of Carmike Cinemas
WASHINGTON (Legal Newsline) — The U.S. Justice Department announced Dec. 20 that it will require AMC Entertainment Holdings Inc. to divest theaters in 15 local markets in order to finalize its $1.2 billion acquisition of Carmike Cinemas Inc.
SEC charges two men involved in allegedly phony day-trading firm that defrauded consumers out of $1.4 million
WASHINGTON (Legal Newsline) – The Securities and Exchange Commission (SEC) announced charges Dec. 21 against two men behind an allegedly phony day-trading firm that pocketed more than $1.4 million in deposits from defrauded investors across the globe.
SEC alleges former director of New York State Common Retirement Fund used pay-to-play scheme
WASHINGTON (Legal Newsline) – The Securities and Exchange Commission (SEC) announced fraud charges Dec. 21 against Navnoor Kang, the director of fixed income for the New York State Common Retirement Fund from January 2014 to February 2016, over allegations of orchestrating a pay-to-play scheme.
SEC settles with Braskem S.A. over allegations of bribing Brazilian officials
WASHINGTON (Legal Newsline) – The Securities and Exchange Commission (SEC) announced Dec. 21 that Braskem S.A., a Brazil-based petrochemical manufacturer whose stock trades in the U.S. Markets, agreed to settle allegations of creating false books and records.
EEOC settles with Crothall Services Group over use of criminal background checks
PHILADELPHIA (Legal Newsline) – The U.S. Equal Employment Opportunity Commission (EEOC) announced Dec. 16 that Crothall Services Group Inc., a janitorial and facilities management company headquartered in Wayne, Pennsylvania, agreed to adopt significant changes to its record-keeping practices relating to its use of criminal background checks.
Oklahoma-based SandRidge Energy settles SEC whistleblower allegations with $1.4M penalty
WASHINGTON (Legal Newsline) – The Securities and Exchange Commission (SEC) announced Dec. 20 that Oklahoma City-based SandRidge Energy Inc. agreed to settle allegations of using illegal separation agreements and retaliating against a whistleblower.
Outokumpu Stainless USA to resolve EEOC race discrimination allegations with $150,000 settlement
&BIRMINGHAM, Ala. (Legal Newsline) – The U.S. Equal Employment Opportunity Commission (EEOC) announced Dec. 16 that Outokumpu Stainless USA LLC, an international steel manufacturing company with a plant in Calvert, Alabama, will pay $150,000 to resolve allegations of race discrimination.
Dimensions Healthcare System in Maryland to $125,000 penalty over allegations of pregnancy discrimination
BALTIMORE (Legal Newsline) – The U.S. Equal Employment Opportunity Commission (EEOC) announced Dec. 20 that Dimensions Healthcare System, the largest not-for-profit provider of health care services in Maryland’s Prince George’s County, will pay $125,000 after allegations of sex discrimination.
EEOC accuses The Cheesecake Factory of not providing interpreter for deaf employee
SEATTLE (Legal Newsline) – The U.S. Equal Employment Opportunity Commission (EEOC) announced a lawsuit Dec. 20 against restaurant chain The Cheesecake Factory Inc. over allegations of violating the Americans with Disabilities Act (ADA).
EEOC alleges Hiatt & Mason Enterprises subjected employee to racially hostile work environment
MOUNT AIRY, N.C. (Legal Newsline) – The U.S. Equal Employment Opportunity Commission (EEOC) announced a lawsuit Dec. 21 against Hiatt & Mason Enterprises Inc., a structural steel erection services company, for allegations of subjecting a black employee to a racially hostile work environment.
South County Support Services, Southwest Transportation Agency in California agree to EEOC settlement
FRESNO, Calif. (Legal Newsline) – The U.S. Equal Employment Opportunity Commission (EEOC) announced Dec. 21 that South County Support Services and Southwest Transportation Agency in California will pay $89,691 to settle allegations of sex discrimination.