Massachusetts-based biotechnology firm Biogen reached a $900 million agreement in principle to resolve a False Claims Act lawsuit brought by a whistleblower alleging the payment of unlawful kickbacks to physicians.
Whistleblowers
Posted inRegulatory Enforcement
Aerojet Rocketdyne to pay $9M in cybersecurity whistleblower case
Aerojet Rocketdyne has agreed to pay $9 million to resolve allegations raised by a whistleblower that the aerospace and defense manufacturer misled the federal government regarding its compliance with cybersecurity requirements in certain contracts.
Posted inAccounting & Auditing
Historic EY fine latest by-product of KPMG cheating scandal
It is impossible to ignore the SEC’s $100 million fine against EY for employee exam cheating is double the amount the regulator penalized KPMG for its separate cheating scandal. Especially since the latter resolution appears to have served as a starting point for the SEC’s ruling on the former.
Posted inAccounting & Auditing
EY fined record $100M for employee cheating scandal
Ernst & Young will pay $100 million after admitting to SEC charges addressing systematic cheating among its accounting professionals on CPA license exams over four years. The fine is the largest the agency has ever imposed against an audit firm.
Posted inRegulatory Policy
SEC spring rulemaking agenda signals potentially hectic fall for compliance
Final action by the Securities and Exchange Commission on its climate-related disclosure rule, whistleblower amendments, unimplemented elements of Dodd-Frank, and more could all take place by the end of the year, according to the agency’s spring agenda.
Posted inRegulatory Enforcement
Brinks fined $400K over restrictive whistleblower language in contracts
The Brink’s Company, a provider of security-related services, has agreed to pay $400,000 and add wording in U.S. confidentiality agreements to comply with an SEC rule regarding corporate whistleblowers.
Posted inEthics & Culture
USAA whistleblowers want to be heard—and now
Jaclyn Jaeger reflects on feedback received from former and current USAA employees following her three-part series detailing alleged violations of law and mismanaged compliance culture at the financial services giant.
Posted inEthics & Culture
Real talk: How Best Buy manages challenges of DEI goals
Two years into its diversity, equity, and inclusion action plan, Best Buy leaders attended Compliance Week’s National Conference to discuss—in a refreshingly blunt manner—the retailer’s learnings.
Posted inEthics & Culture
Ten highlights from Compliance Week 2022
Editor In Chief Kyle Brasseur recaps the moments that stood out to him most from Compliance Week’s first in-person event since 2019.
Posted inEthics & Culture
Carreyrou lauds whistleblowers’ roles in helping expose Theranos fraud
John Carreyrou, whose reporting exposed blood-testing company Theranos as a fraud, discussed the vital role lab director Adam Rosendorff and his other colleagues that came forward played as sources during a fireside chat at Compliance Week’s National Conference.