SEC Charges Former Pharma Accountant and his Friends with Insider Trading

The Securities and Exchange Commission charged a former accountant of pharmaceutical company, Celator Pharmaceuticals Inc.,and his friends with insider trading on market-moving news about the clinical trial results for Celator’s cancer drug and its acquisition by Dublin-based Jazz Pharmaceuticals Plc. The company's stock rose more than 400 percent in March 2016 when it announced positive results for its drug to treat leukemia, and Jazz Pharmaceuticals offered to pay a hefty premium in May 2016 to acquire Celator. The accountant provided his tips through an encrypted smartphone application to his friends who agreed to purchase the stop and share their profits with him. Andersen Sleater Sianni

Beachbody Ordered to Obtain Customers' Consent for Renewals

The Santa Monica City Attorney’s Office sued Beachbody, one of the world’s largest sellers of exercise videos, supplements, and weight-loss programs, for charging customers’ credit cards automatically for renewals, without their express prior consent as required by law. Beachbody agreed to change its website and sales practices to better protect consumers and will pay $3.6 million in penalties and restitution as part of a final court judgment. Andersen Sleater Sianni represents consumers in lawsuits where companies have defrauded them. Click here to read more about the Beachbody judgment.

FTC Charges Debt Collection Scheme

The FTC filed a lawsuit in against a business that uses the name “Lombardo, Daniels & Moss” with creating a phantom debt collection scheme. The FTC alleges that defendants called consumers to pressure them to pay debts by threatening to sue people, garnish their wages, freeze their bank accounts, or even have them arrested that either the consumer didn’t owe or that the defendants had no right to collect. With the use of its names, defendants allegedly gave people the false impression that the debts had been referred to a law firm or attorney for collection. Debt collectors are subject to many regulations including the Federal Fair Debt Collection Practices Act that prevents them from doing

Customers of Tech Support Scam to Receive Partial Refunds

The FTC announced that as a result of its and the State of Florida's case against Advanced Tech Support also known as Inbound Call Experts, customers of the telemarketing tech support scam will soon get an email with instructions to claim a partial refund of $10m that the Court ordered to be paid. According to the lawsuit, the company used online ads, search results, and partnerships with software developers to lure consumers to call Advanced Tech Support. Then their telemarketers used high-pressure sales tactics to sign people up for unneeded technical support subscriptions and services, sometimes for hundreds of dollars. Andersen Sleater Sianni represents customers who have been defrauded

Federal Regulators Warn of Hurricane-Related Scams

In the wake of many natural disasters in this country, scammers look to take advantage of those with good will looking to donate to charities that claim to help victims. Fraudsters also at times try to take advantage of those in desperate need of assistance. The FTC has put out a warning and provided tips on those seeking to help those impacted by Hurricane Harvey that recently hit Texas. Click here to read more from the FTC.

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