RICO News

Juul Labs Fails to Knock Out Racketeering Claims in Lawsuits About Marketing Conduct

Juul Labs Inc. failed to knock out racketeering claims in lawsuits accusing it of deliberately targeting teenagers, as individual founders and directors of the e-cigarette maker became the new focus of the litigation. Most of the claims brought by consumers, …

RICO Suit against Colorado Cannabis Firms Highlights D&O Dearth

A scarcity of directors and officers coverage for cannabis companies may be take an even bigger spotlight following a Colorado lawsuit in which two large cannabis operators and several executives are accused of illegally transporting marijuana to Arkansas. The lawsuit …

Juul’s Defense of Marketing E-Cigarettes to Youth Targets Use of Organized Crime Law

Juul Labs Inc. has the Mafia to thank for the most potent legal claims accusing the e-cigarette maker of igniting an epidemic of youth nicotine addiction. The company will try to persuade a federal judge Monday that consumers and school …

GEICO Files RICO Lawsuit in Florida Over Alleged Fraudulent Claims

GEICO has sued five Florida companies and six known individuals engaged in what it said was a complex scheme to submit hundreds of suspected fraudulent glass repair bills for payment. In the case, Government Employees Insurance Company, et al. v. …

Prudential Fraud Claims Against Goldman Sachs Over Securities Dismissed

Prudential Financial Inc. agreed to dismiss its claims that Goldman Sachs Group Inc. engaged in fraud and racketeering in selling $375 million of residential mortgage-backed securities, a court order shows. U.S. District Judge Susan Wigenton signed a dismissal order yesterday …

Allstate Wins Major Medical Fraud Lawsuit in Nevada

Allstate Insurance Co. received a judgment of more than $7 million following a Racketeering Influenced in Corrupt Organizations investigation nearly 10 years in the making. It is the company’s first medical fraud lawsuit in the state. “Medical insurance fraud affects …

Prosecutors Weigh Using Racketeering Law Against SAC

U.S. prosecutors are considering charging Steven A. Cohen’s SAC Capital Advisors as a criminal enterprise engaged in a long pattern of insider trading in stocks, according to a person familiar with the matter. Prosecutors may use the Racketeer Influenced and …

John Hancock, Law Firm Face Tax Shelter Racketeering Lawsuit

John Hancock Life Insurance Co. and its law firm, Edwards Wildman Palmer, must face a class action accusing them of violating racketeering laws by marketing a tax shelter, a federal appeals court ruled on Wednesday. The 6th U.S. Circuit Court …

Texas Attorney Convicted of Paying Bribe Money to Judge

A South Texas attorney has been convicted on charges related to bribing a judge for favorable rulings in court cases, including insurance related litigation. United States Attorney Kenneth Magidson announced that Ray Roman Marchan of Brownsville, Texas, has been found …

Judge Tosses Racketeering Claims vs. BP Over Oil Spill

BP Plc won two legal victories Friday, as a federal judge threw out racketeering claims made by the lead plaintiffs suing over last year’s Gulf of Mexico oil spill, and also set aside a lawsuit by partner Anadarko Petroleum Corp. …