Former SodaStream CEO has been Charged with Insider Trading
After 12 years as chief executive of the Israeli carbonated drink company, (Daniel) Birnbaum stepped down on September 1, 2019, when he was placed under investigation for insider trading violations surrounding the company’s acquisition by PepsiCo.
According to the indictment, Cohen purchased the company’s stock using the inside information provided to her by Birnbaum on two different occasions, as was initially reported by Globes.
Maglula Beats Amazon in Counterfeit Claims
In a David versus Goliath-like case, Israel-based Maglula achieved something no other company has: a court ruling that its case against Amazon was a “straightforward counterfeit case.” That’s precisely how U.S. District Court Judge Liam O’Grady ruled in an order denying Amazon’s motion to try to end nearly all Maglula’s case against Amazon for the sale of counterfeit goods. After Amazon mounted a considerable defense of its business model, Judge O’Grady reviewed the evidence countering Amazon’s claims that aspects of the lawsuit should not go to a jury trial and he determined not only that the evidence showed “Chinese manufacturers did their best to create copies, or ‘knockoffs,’ of Maglula products, packaging, markings, and literature,” but also that “Amazon proceeded to sell these products online as genuine Maglula products.” Moreover, Judge O’Grady found from the evidence opposing Amazon’s motion that “Maglula notified Amazon on multiple occasions, to no avail, that it [Amazon] was selling counterfeit products of inferior quality and ruining Maglula’s business.” In the court’s short ruling, Judge O’Grady went on to find “the evidence of unlawful counterfeiting … is overwhelming,” and conclude “this is simply not a case where Amazon can avoid liability.” With that, the Court denied Amazon’s motion and ordered the parties to mediation. The parties subsequently entered into a settlement agreement, and Maglula dismissed its claims.
Virtual Care Provider Sues Rivals, Alleging Data Theft, Patent Violations
MDsave, a direct-to-consumer virtual marketplace for healthcare services, has filed a lawsuit against three of its competitors alleging they stole and exploited MDSave’s protected data and intellectual property.
The lawsuit accuses the defendants, Sesame, Green Imaging, and Tripment, of misappropriating MDSave’s protected data, falsely advertising their services, directly interfering with MDSave’s relationships with its patients, doctors, and hospitals, and committing patent and trademark infringement. MHealthIntelligence reached out to the defendants, and while Sesame and Green Imaging did not respond, Tripment sent the following statement via email*:
Swanton Woman Sentenced for Prescription Fraud and Embezzlement Scheme and Ordered to Pay $71,942.60 in Restitution
According to Court records, Cox formerly was an employee at a dental practice in St. Albans, Vermont. Between April and November 2016, Cox conspired with another employee to generate fake prescriptions for controlled substances and forge the signature of a licensed prescriber. Cox and others then filled the fake prescriptions – which typically were for Oxycodone – at several area pharmacies. In total, investigators identified 46 fake prescriptions. In addition, between May 2016 and August 2017, Cox embezzled $71,942.60 from her employer by manipulating and falsifying payment records in the dental practice’s billing software.
SaaS Giants Zoho and Freshworks End Legal Battle
In March 2020, Zoho filed a lawsuit alleging that Freshworks had stolen its confidential information and built a business out of it. Zoho alleged that the latter used its non-public financial information to gain the trust of investors, which in turn, helped the company seal its first round of funding.
Firing back at Zoho, in July 2020, Freshworks accused Zoho of expanding one alleged customer data theft incident into a broader case of trade secret misappropriation.
Mont Vernon Attorney Convicted of Engaging in Multimillion Dollar Fraud Scheme
According to exhibits and witness testimony during the trial, Foistner used fraudulent means to apply for over $8 million in loans from five different financial institutions, laundered money, and made material misrepresentations during bankruptcy proceedings between 2015 and 2018. Foistner, at the time of the scheme, was a licensed attorney in Massachusetts. He did not have any paying clients and earned no income through his law firm. In order to obtain millions of dollars in loans from multiple financial institutions, Foistner provided banks with misleading documents that suggested that he was operating a lucrative law firm. For example, he claimed that he was a “seasoned attorney” with international clients and that his firm earned over a million dollars in annual income. In fact, all the firm’s purported income was based upon bogus, unpaid invoices the firm submitted to entities that the defendant controlled, including bankrupt entities. The defendant also made other false statements to obtain bank loans, including lying about whether he was involved as a party to any lawsuits and denying that he had an interest in other companies. He also falsely represented that he had a salary by mischaracterizing loan proceeds as a salary. In one of the bank fraud schemes, the defendant submitted false information to obtain a loan by claiming falsely that his wife was earning over $200,000 per year as a paralegal. Each of the loans made to Foistner were backed by either the Department of the Veterans Affairs or the Small Business Administration.
