SCOTUS asks top lawyer: How much detail needed to plead false claims?

REUTERS

The U.S. Supreme Court on Tuesday signaled interest in a whistleblower’s lawsuit against Georgia-based Bethany Hospice and Palliative Care LLC by asking for Solicitor General Elizabeth Prelogar’s views of how much detail is necessary to plead fraud “with particularity” under the False Claims Act. read more »

Federal Court Orders Kentucky Resident to Pay $17 Million for Defrauding Commodity Futures Clients

CFTC

The Commodity Futures Trading Commission today announced that the U.S. District Court for the Eastern District of Kentucky entered a consent order for permanent injunction, restitution, and disgorgement against William S. Evans III (d/b/a Turning Point Investments) of Harrodsburg, Kentucky, and Evans’ wife, Frances Evans. The court imposed almost $17 million in relief for defendant’s wrongdoing, including his misappropriation of client money intended for futures trading. read more »

U.S. SEC to vote next week on boosting hedge fund disclosures - Chair Gensler

REUTERS

The U.S. Securities and Exchange Commission (SEC) will vote next week to propose boosting hedge fund disclosures in a bid to enhance industry oversight and investor protections, the agency's chair said on Wednesday. read more »

Racketeering lawsuit against McKinsey revived by U.S. appeals court

REUTERS

A U.S. appeals court on Wednesday revived a racketeering lawsuit accusing the consulting firm McKinsey & Co of concealing potential conflicts when seeking permission from bankruptcy courts to perform lucrative work on corporate restructurings. read more »