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DOJ's Cyber Fraud Initiative: A Wake-up Call That Keeps Ringing
In an era where digital threats loom large, the Department of Justice (DOJ) has taken several steps to safeguard a strong national cybersecurity framework. In particular, on October 6, 2021, DOJ announced the Cyber-Fraud Initiative (the Initiative), which uses the False Claims Act (FCA) to combat cybersecurity fraud committed by government contractors and grant recipients. See, "Deputy Attorney General Lisa O. Monaco Announces New Civil Cyber-Fraud Initiative," Office of Public Affairs Department of Justice (Oct. 2, 2021).
Over the past three years since Deputy Attorney General (DAG) Lisa Monaco announced the Initiative, DOJ has targeted a broad range of illegal conduct, including deficient cybersecurity standards, misrepresentation of cybersecurity practices and failure to timely report data security incidents. The number of cases and settlement amounts have also grown substantially to include seven publicly announced settlements that total more than $2.8 million dollars. In fact, in the last two months alone, DOJ announced three significant settlements totaling $1.4 million. See, "Consulting Companies to Pay $11.3M for Failing to Comply with Cybersecurity Requirements in Federally Funded Contract," Office of Public Affairs Department of Justice (June 17, 2024); "Staffing Company to Pay $2.7M for Alleged Failure to Provide Adequate Cybersecurity for COVID-19 Contact Tracing Data," Office of Public Affairs Department of Justice, (May 1, 2024).
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Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.
Coverage Issues Stemming from Dry Cleaner Contamination Suits
In recent years, there has been a growing number of dry cleaners claiming to be "organic," "green," or "eco-friendly." While that may be true with respect to some, many dry cleaners continue to use a cleaning method involving the use of a solvent called perchloroethylene, commonly known as perc. And, there seems to be an increasing number of lawsuits stemming from environmental problems associated with historic dry cleaning operations utilizing this chemical.