Saturday, April 28, 2012

Securities and Exchange Commission Whistleblower Reward Law Designed to Expose Financial Fraud and Investment Fraud

Matthew H. Kluger and Garrett D. Bauer

Securities and Exchange Commission v. Matthew H. Kluger and Garrett D. Bauer, Case No. 11-cv-1936 (D.N.J. April 6, 2011) (KSH-PS); Securities and Exchange Commission v. Kenneth T. Robinson, Case No. 12-cv-2438 (D.N.J. April 25, 2011) (KSH-PS)

ATTORNEY, WALL STREET TRADER, AND MIDDLEMAN SETTLE SEC CHARGES IN $32 MILLION INSIDER TRADING CASE

Washington, D.C., April 25, 2012 – The Securities and Exchange Commission today announced a settlement in a $32 million insider trading case filed by the agency last year against a corporate attorney and a Wall Street trader.

The SEC alleged that the insider trading occurred in advance of at least 11 merger and acquisition announcements involving clients of the law firm where the attorney – Matthew H. Kluger – worked. He and the trader – Garrett D. Bauer – were linked through a mutual friend now identified as Kenneth T. Robinson, who acted as a middleman to facilitate the illegal tips and trades. Kluger and Bauer used public telephones and prepaid disposable mobile phones to communicate with Robinson in an effort to avoid detection. Robinson, now also charged, cooperated in the SEC’s investigation.
Bauer, Kluger, and Robinson each agreed to give up their ill-gotten gains plus interest in order to settle the SEC’s charges. Those amounts under the terms of their consent agreements are approximately $31.6 million for Bauer, $516,000 for Kluger, and $845,000 for Robinson.

Securities and Exchange Commission Whistleblower Reward Law Designed to Expose Financial Fraud and Investment Fraud

 Two relatively new whistleblower recovery laws are section 21F of the Securities Exchange Act (SEC Whistleblower Bounty Actions), and section 23 of the Commodity Exchange Act (CFTC Whisteblower Bounty Actions).    These laws were passed in the wake of Financial Market Melt Down in 2008 and in response to massive fraud in the financial markets.  These whistleblower recovery laws are designed to encourage people with specialized knowledge of significant investment fraud, securities fraud, SEC violations, commodity futures fraud, violations of the foreign corrupt practices act, and other financial fraud.  These whistleblower reward laws were designed to protect whistleblowers that step up and blow the whistle on financial fraud.

Sunday, April 15, 2012

International Theft of Trade Secrets, International Patent Infringement, and International Intellectual Property Rights Infringement are on the Rise by International Patent Infringement Government Procurement Whistleblower Reward Lawyer, International Trade Secret Theft Procurement Whistleblower Lawyer, and International Patent Infringement Supply Chain Import Business Litigation Lawyer Jason S. Coomer

International Theft of Trade Secrets, International Patent Infringement, and International Intellectual Property Rights Infringement are on the Rise by International Patent Infringement Government Procurement Whistleblower Reward Lawyer, International Trade Secret Theft Procurement Whistleblower Lawyer, and International Patent Infringement Supply Chain Import Business Litigation Lawyer Jason S. Coomer

International theft of trade secrets and international intellectual property right infringement are on the rise as China, Mexico, Russia, and other emerging countries are seeking to improve their technology to move up the manufacturing value chain.  With fierce competition from countries such as Vietnam, Cambodia and Bangladesh attempting to undercut China's manufacturing of labor-intensive goods as well as higher end supply chain manufacturing competition from other emerging countries being placed on China, Russia, and Mexico; the pressure to obtain high end trade secrets and intellectual property has led to corporate espionage and theft of valuable trade secrets and intellectual property.  These products when used in other products can come through the supply chain and be the basis for patent infringement lawsuits, whistleblower reward lawsuits, and other types of lawsuits.

International Patent Infringement Government Procurement Reward Lawsuits, International Trade Secret Theft Government Procurement Whistleblower Reward Lawsuits, International Supply Chain Procurement Fraud Whistleblower Lawsuits, International Patent Infringement Qui Tam Lawsuits, and International Business Litigation Lawsuits

International theft of trade secret lawsuits, international patent infringement lawsuits, international intellectual property right infringement lawsuits, and other international business litigation lawsuits can be complicated legal matters requiring an experienced legal team to work across jurisdictions and work with different government entities.   These cases can become procurement fraud whistleblower reward lawsuits when internationally produced products reenter the United States and are sold to the U.S. Government or another governmental entity.


Establish U.S. Government-Wide Working Group to Prevent U.S. Government Purchase of Counterfeit Products
The 2011 IPEC Annual Report on Intellectual Property Enforcement

As the purchaser of over $500 billion in goods and services per year, the U S Government must ensure that it does not purchase counterfeit goods, secure its supply chain, and take the necessary steps to combat the evolving tactics of counterfeiters The Joint Strategic Plan established a government-wide working group to prevent the purchase and use of counterfeit products Over the last year, the IPEC convened an interagency group consisting of subject matter experts to develop an anti-counterfeiting framework that is flexible enough to accommodate the wide variety of missions across the government and their different systems of procurement The Office of Federal Procurement Policy (OFPP), Department of Defense (DOD), DOJ, and NASA have assumed leadership roles within the working group based on their vast expertise with U S Government procurement and anti-counterfeiting practices Other members include the DOC, Department of Energy, HHS, DHS, and Department of Transportation, the Environmental Protection Agency, the Missile Defense Agency, the General Services Administration, the Small Business Administration, the Nuclear Regulatory Commission, and the National Reconnaissance Office The main focus of this interagency working group is to ensure that the U S Government has the necessary tools to ensure that it does not purchase or use counterfeit products The working group is examining legislative authority, regulations, procurement policy and guidance, industry studies and reports, and international anti-counterfeiting standards in order to identify areas where risk to the security of U S Government supply chain from counterfeit parts can be reduced The working group developed six objectives to focus the group’s efforts to identify legislative, regulatory, or policy gaps and propose solutions to fill those gaps The six objectives are:
• Counterfeit Risk Assessment
• Supplier Requirements
• Traceability
• Testing and Evaluation of Goods
• Counterfeit Training and Outreach
• Enforcement Remedies
The group is developing a government-wide strategy using tools that are already at the U S Government’s disposal and creating new tools to combat the purchase or use of counterfeit goods by the U S Government The strategy will focus on reducing the risk of counterfeit items entering the supply chain, dealing efficiently with any suspected counterfeit items that do enter the supply chain, and strengthening remedies against those who provide counterfeit items to the U S Government.

International Patent Infringement Government Procurement Reward Lawsuits, International Trade Secret Theft Government Procurement Whistleblower Reward Lawsuits, International Supply Chain Procurement Fraud Whistleblower Lawsuits, International Patent Infringement Qui Tam Lawsuits, and International Business Litigation Lawsuits

For more information on International Patent Infringement Government Procurement Reward Lawsuits, International Trade Secret Theft Government Procurement Whistleblower Reward Lawsuits, International Supply Chain Procurement Fraud Whistleblower Lawsuits, International Patent Infringement Qui Tam Lawsuits, please click on the following link: International Patent Infringement Government Procurement Reward Lawsuit, International Trade Secret Theft Government Procurement Whistleblower Reward Lawsuit, International Supply Chain Procurement Fraud Whistleblower Lawsuit, and International Patent Infringement Qui Tam Lawsuit Information

International theft of trade secret lawsuits,