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On May 29, 2018, the U.S. Supreme Court ruled in Lagos v. United States, 584 U.S. ___ (2018), that corporate victims of criminal offenses cannot recover expenses incurred from internal investigations that the federal government has neither requested nor required under the Mandatory Victims Restitution Act of 1996, 18 U.S.C. §3663A (MVRA). In its decision, the Court declined to address whether, going forward, such victims can recover costs from internal investigations initiated at the government’s behest under the statute. Prior to this holding, a number of federal courts held that corporate victims were eligible for restitution for the costs incurred from their internal investigations and referrals to law enforcement — regardless of whether the government requested or required such investigations. These courts ordered restitution to reflect these costs on grounds that internal investigations: 1) are a foreseeable result of the crimes enumerated in the MVRA; and 2) provide invaluable assistance to government investigations and proceedings.
By Patrick Campbell, Jonathan New and Madison Gaudreau
This article explores legal developments over the past year that may impact compliance officer personal liability.
By John C. Coffee Jr.
It has been nearly 60 years since the SEC first clearly prohibited insider trading. You would think that would be long enough for the doctrinal rules to have become reasonably clear. Think again!
By Xiumei Dong
As Silicon Valley technology companies face increasing government scrutiny, experienced white-collar practitioners are becoming hot commodities among the law firms seeking to represent tech-focused clients.
By Juliet Gunev
Walmart and Brazillian Subsidiary Reach $282 Million Settlement with the DOJ and SEC to Resolve FCPA Investigations