Diversity & Inclusion
Insights: Current Issue
Insights Conversations: How Government Health Care Investigations May Be Shifting
The DOJ has long had the advantage when investigating False Claims Act cases against health care companies. However, recent changes in the courts, including a unanimous U.S. Supreme Court decision, seem likely to shift the ground rules for how these investigations are carried out. Skadden partner Mike Loucks and counsel Alexandra Gorman discuss the current state of health care enforcement of fraud allegations.
The U.S. Supreme Court will have the opportunity this fall to consider two securities law cases with potentially profound implications. The cases concern the “personal benefit” required to establish liability for insider trading and the jurisdictional requirements for class actions under the Securities Act.
Following the Brexit vote, the U.K. government has a vested interest in ensuring that it remains a prime jurisdiction for investment. As the government contemplates navigating a path away from the European Union, multinational businesses with U.K. interests will need to understand which tax measures are unlikely to change, which might be revisited now and what could happen with U.K. corporate tax policy once the U.K. is no longer a member of the EU.
Asset managers using private, single-investor structures raised around $128 billion between 2010 and 2015, rivaling or exceeding capital raised in commingled private fund products during the same period. As a private, bilateral deal, an SIP can offer parties mutually advantageous opportunities that are elusive in commingled fund transactions.
In recent years, the application of a “conscious avoidance” or “willful blindness” theory as the basis of attorneys’ liability for clients’ criminal conduct has been on the rise. This "ostrich" theory, as it is commonly known, may be enforcing an ill-defined duty to investigate red flags in situations where the ethical rules governing attorneys would find misconduct only if an attorney had actual knowledge of a client’s criminality.
Certain questions seem to recur when it comes to outside counsel’s communications with a company’s auditors about potential exposures as a result of litigation or regulatory/enforcement matters as well as the underlying accounting for such matters. First, how can clients satisfy auditors’ requests for information without waiving attorney-client and work-product privileges? And second, how do the standards for accounting for loss contingencies apply when a company expects insurance to cover any ultimate losses?
The IRS recently proposed new regulations that would increase the wealth transfer tax when interests in a family-controlled entity are transferred during life or at death. Before the rules take effect, those with family-controlled entities should consider proactive estate and gift tax planning that could reduce their wealth transfer taxes.