Posted by Bridget Uribe. During the summer of 2015, one of the world’s most known Japanese companies broke headlines as a top accounting scandal. Investigators found the company was overstating operating profits by at least 151.8 billion yen ($1.2 billion in U.S. dollars) between the years of 2008 and 2014. Their accounting problems primarily began …
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Posted by Katie Kim. On Thursday, Martin Shkreli, a 32 year-old pharmaceutical executive, was arrested by the federal authorities on securities and wire-fraud charges stemming from an alleged Ponzi scheme he ran as a hedge-fund manager. What the young executive was doing was taking out loans from investors to start a new pharmaceutical company and using …
Posted by Ali Paladino. Recently, on September 1, 2016, the electric car maker Tesla Motors was called out for attempting to sell their vehicles directly to their customers in Missouri. The judge ruled Tesla’s efforts to rule out the middleman, car dealerships, violated state law. The Missouri Revenue Department “gave the California-based manufacturer a license …
Under Article I, Section 8 of the United States Constitution, the Congress has the power to “declare War, grant Letters of Marque and Reprisal, and make Rules concerning Captures on Land and Water[.]” The Founders wisely thought that the Legislature is in a better position than the President to carry out the will of the …
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Posted by Devaki Sidhaye. Recently department of Justice announced largest ever health care fraud enforcement action by the Medicare Fraud Strike Force, involving 412 individuals, including 115 doctors, nurses and other licensed medical professionals. Their involvement in health care fraud scams totaling approximately $1.3 billion in false billings. As per the department, many of the …
Los Angeles will pay 24 million dollars to two men who spent decades in prison for crimes they did not commit. In one case, lawyers and a team of students from Loyola Law School challenged a key witness’s testimony. In 1979, Kash Delano Register was charged with the armed robbery and murder of Jack Sasson, 78, after eyewitness …
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Posted by Abier Mustafa. Stryker Corp., a device maker company, recalled its Rejuvenate and ABG II hip implant devices in July 2012 after warning surgeons they could harm tissue around the hip and cause other health problems to its patients. Patients have complained of severe pain, unusual swelling and excessive metal debris in their blood, blaming …
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Posted by Patrick Cleaver. Every law is made to help the public, to protect the safety of the driver, and deliver a reliable car. The car industry knows they make mistakes and are responsible for fixing the damages for free when such mistakes occur and cars get recalled. However, does a used owner know that …
Posted by Abigail Hofmann. Francisco Garcia of the Sacramento Kings was lifting weights on a Ledraplastic exercise ball on October 9th, 2009. The 195 pound player was lifting two 80 pound weights while on the ball when it suddenly burst beneath him. This supposed “burst resistant” ball advertised its ability to withstand weight up to …
Continue reading “Sacramento Kings Limited Partnership LP v. M-F Athletic Co. Inc.”
Posted by Alhanouf Almubarak. This case discusses Tesco the Britain’s biggest retailer accounting scandal. In October 2014, the Serious Fraud Office (SFO) began a criminal investigation into accounting practices at Tesco. Chris Bush, (Tesco’s former managing director), Carl Rogberg (former finance chief), and John Scouler (former food commercial head) were charged with fraud over an accounting …
Continue reading “Tesco Agrees to Pay $162 Million Fine Over Accounting Scandal”
