On June 26, Treasury’s Office of Foreign Assets Control (OFAC) announced the settlement of an enforcement action against an Italian animation company that violated OFAC’s sanctions on North Korea. The enforcement action highlights several key propositions regarding sanctions compliance: (1) non-U.S. businesses cannot ignore U.S. sanctions if they are transacting through the U.S. or using U.S. dollars; (2) penalties for civil violations of sanctions are imposed on a strict liability basis; and (3) the U.S. government is particularly focused on North Korean sanctions evasion.

Altaris has announced it will acquire Sharecare (NASDAQ: SHCR) for $1.43 in cash per share, or about $518 million.

Sharecare, founded in 2010 and based in Atlanta, is a digital health company that provides technology and services across the healthcare ecosystem through three business channels: enterprise, provider and life sciences.

Altaris, based in…

Last month, the U.S. District Court for the District of New Jersey held that a private company, Allstate Insurance Company, could proceed with its whistleblower action against a clinical laboratory, Phoenix Toxicology and Lab Services, LLC, which allegedly submitted false claims to the federal government for medically unnecessary urine drug tests (“UDT”). See generally United States ex rel. Allstate Ins. Co. v. Phoenix Toxicology & Lab Servs., LLC, No. CV 22-6303, 2024 WL 2785396 (D.N.J. May 30, 2024). This lawsuit is part of a growing trend of non-traditional, whistleblower-like insurance companies, activists, investors, special purpose entities created just to file litigation (sometimes created by attorneys or litigation-funding groups) and others to file False Claims Act (“FCA”) actions, which have traditionally been brought by former or current employees of the target entities.

Notable litigation filed during May 2024 includes: (1) Courtney v. Sawyer, et al., No. 24-cv-37962 (Cal. Super. Ct.); (2) two related actions by a court-appointed receiver, captioned Dottore v. FTF Lending, LLC, et al., No. CV-2024-05-1878 (Ohio Ct. Comm. Pl.); Dottore v. MHS Investors LLC, No. CV-2024-05-1904 (Ohio Ct. Comm. Pl.); and…

Trilantic North America announced it will make a growth investment in SOFIE Biosciences. 

SOFIE, founded in 2008 and based in Dulles, Virginia, is a radiopharmacy and contract development and manufacturing organization.

Trilantic Capital Management (Trilantic North America), founded in 2009 and based in New York, is a growth-focused middle market private equity firm that…

June 27, 2024

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McGuireWoods latest installment of its bimonthly brown-bag lunch series that explores important topics affecting the consumer product and retail industries. This webinar covers cannabis industry news and speakers answer questions from attendees..

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Tenex Capital Management has acquired Behavioral Innovations (BI) from Shore Capital Partners, according to a news release.

BI, founded in 2000 and based in Dallas, is provider of center-based applied behavior analysis therapy to early intervention children with autism spectrum disorder and other related developmental disabilities. BI operates nearly 80 centers across Texas,…