SEC Obtains Final Judgment Against Former Pharmaceutical Company CEO Ordering a Permanent Officer and Director Bar and $1.3 Million in Penalties

SEC

On February 23, 2022, the United States District Court for the Eastern District of New York entered a final judgment against Martin Shkreli, the former CEO of Retrophin, Inc., a publicly traded pharmaceutical company. The Court granted in its entirety the SEC's motion for a permanent officer and director bar and $1.392 million in civil penalties. Shkreli previously consented to a partial judgment ordering injunctions against future violations of the securities laws. read more »

Two Florida Men Charged With $11 Million Medicare Fraud Scheme To Traffic In Prescriptions For Medical Equipment

DOJ

Damian Williams, the United States Attorney for the Southern District of New York, and Scott J. Lampert, Special Agent in Charge of the U.S. Department of Health and Human Services Office of Inspector General (“HHS-OIG”) New York Regional Office announced today the arrest of ZACHARY S. SEID and ANTHONY CRACCHIOLO on charges of conspiracy, health care fraud, wire fraud, and unlawfully receiving kickbacks in connection with Medicare. As alleged in an Indictment unsealed today in Manhattan federal court, SEID and CRACCHIOLO, ran companies dedicated to illegally buying and selling prescriptions for durable medical equipment (“DME”) such as leg, arm, and back braces, and then using those prescriptions to file fraudulent Medicare claims for more than $11 million, as well as selling such prescriptions to other DME supply companies, so that those companies in turn could also file fraudulent Medicare claims. The case has been assigned to U.S. District Judge John P. Cronan. SEID and CRACCHIOLO, who were arrested this morning in Florida, will be presented tomorrow before magistrate judges in the Southern District of Florida. read more »

EpiPen antitrust litigation settled; Viatris to pay $264 million

REUTERS

Viatris Inc (VTRS.O), the drugmaker formerly known as Mylan, said on Monday it had agreed to pay $264 million to resolve a class action lawsuit alleging it engaged in a scheme to delay generic competition to its EpiPen allergy treatment. read more »