Hagens Berman Blog

Whistleblower News: Bitcoin Warning, Intel Security Flaw

by Hagens Berman

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SEC warns bitcoin, cryptocurrency investors at risk

The U.S. Securities and Exchange Commission warned Thursday that investors should “exercise caution” with cryptocurrencies like bitcoin, noting state and federal regulators may not be able to recoup any lost investments from illegal actors.

Many promoters of initial coin offerings (ICOs) and other cryptocurrency investments are not following federal and state securities laws, SEC Chairman Jay Clayton and Commissioners Kara Stein and Michael Piwowar said in a statement. While regulators are trying to police these quickly growing markets, the SEC urged investors to be vigilant.

“The SEC and state securities regulators are pursuing violations, but we again caution you that, if you lose money, there is a substantial risk that our efforts will not result in a recovery of your investment,” the officials said. read more »

New Puerto Rico law targets graft, shields whistleblowers

Puerto Rico's governor has signed a new law aimed at fighting corruption in the U.S. territory amid a deep economic crisis.

The measure bars judges from granting probation to anyone accused of corruption, obstruction of justice or any other charge that involves public funds. People convicted of graft are prohibited from running for elected office.

Gov. Ricardo Rossello said Thursday that the law also strengthens protections for whistleblowers and increases the statute of limitations for those seeking to file a civil complaint for alleged reprisals. read more »

Intel facing class-action lawsuits over Meltdown and Spectre bugs

Plaintiffs claim compensation for security flaws and alleged slowdown that fixing computers will cause, while corporations count cost of corrections. read more »

In FCPA Case, In-House Lawyer Wishes He Had Quit Over Bribes

“I should have refused to draft the contract that we used for paying bribes," former Keppel attorney Jeffrey Chow told a federal court, according to a transcript unsealed on Dec. 22, when the company agreed to pay more than $422 million to resolve corruption charges. read more »