Puleo, et al. v. Nelson, et al. was filed in the Central District of California on August 10, 2021, seeking damages based on more than thirty claims for violation of various state and federal securities laws, elder financial abuse, fraud, negligent misrepresentation, and conspiracy to commit fraud in connection with a real estate Ponzi scheme.

Plaintiffs are numerous individual and trustee investors who invested in student housing projects either as individuals, through their business enterprises, or as trustees of trusts.  Defendants are Nelson Partners, a California limited liability company that sponsored the offering of the real estate interests, Patrick Nelson as the sole owner, president, and chief executive officer of Nelson Partners (collectively, “Nelson Partners”), Axonic Capital LLC, a hedge fund (“Axonic”), and various other individual and corporate investment advisors and funds affiliated with Nelson Partners and Axonic.

Linden Capital Partners has announced it has acquired RQM+ Corp. from DFW Capital Partners.

RQM+, based in Monroeville, Pa., is an international provider of regulatory, quality and compliance consulting services for medical device, in-vitro diagnostics and combination product manufacturing companies.

Linden, based in Chicago, is a private equity firm focused exclusively on the…

The Fifth Circuit recently reversed a district court’s dismissal of a motion to return property after the government’s seizure of protected attorney-client information in Harbor Healthcare Sys., L.P. v. United States, 5 F.4th 593 (July 15, 2021).   Harbor Healthcare System, L.P. (“Harbor”) was the subject of two qui tam lawsuits—filed in 2014 and 2016—alleging violations of the False Claims Act (“FCA”).  The Civil Division of the Department of Justice shared the allegations in the qui tam actions with its prosecutors to investigate possible criminal activity.  Prosecutors obtained warrants authorizing it to search Harbor locations and offices and seize twenty-two broad categories of documents as well as smart phones, iPads, and other mobile electronic devices.  Harbor asserted that the materials seized by the government contained a wealth of information protected by the attorney-client privilege, and that the government did not inform the magistrate judges who authorized the search warrants that the government had seized privileged material from Harbor.

Sverica Capital Management has announced it has sold Women’s Health USA (WHUSA) to Unified Women’s Healthcare.

WHUSA, based in Avon, Conn., is a provider of practice management and value-based care services to women’s health providers. Founded in 1997, the company serves more than 600 physicians across seven states.

Sverica, with offices in Boston…

  • Overview

    • Broker-dealers, like most companies, rely on third-party vendors for a wide variety of functions.  This common practice of outsourcing does not relieve a broker-dealer of its regulatory compliance and supervision obligations over the outsourced functions.  Accordingly, management and supervision of third-party vendors present important issues that merit careful attention from regulatory, compliance, and legal departments within a broker-dealer.

    Insight Partners has led a funding round for Covera Health, with Covera raising $25 million in series C financing, according to a news release.

    Covera, based in New York, is a healthcare quality analytics company serving providers, employers and health plans Founded in 2017, Covera’s first product is the Radiology Centers of Excellence…

    Periscope Equity has announced it has invested in CyberMaxx through a recapitalization in partnership with management.

    CyberMaxx, based in Nashville and founded in 2009, provides the healthcare industry with a suite of services designed to prevent, detect and respond to cyberattacks.

    Periscope Equity, based in Chicago, is a lower middle market private equity firm…

    RoundTable Healthcare Partners has announced it has acquired American Optics and Replacement Parts Industries (RPI).

    American Optics, headquartered in Wellesley, Mass., is an engineering, manufacturing, assembly and distribution business for replacement components used in the repair of flexible and rigid endoscopes and new components used by original equipment manufacturers in endoscope manufacturing.

    RPI,…

    Chang, et. al. v. Interactive Brokers LLC (“IB”) was filed in the Northern District of California on August 2, 2021. The Complaint seeks civil damages for claims of aiding and abetting fraud, aiding and abetting breach of fiduciary duty, and violation of California Business and Professions Code.