McGuireWoods’ Ponzi Litigation team launched its Ponzi Perspectives blog in early 2021. Since that time, we’ve posted detailed case alerts of Ponzi-related complaints filed throughout the country and posted key decisions that have the potential to influence controlling law on Ponzi-related issues involving financial institutions. This 2023 year-end round up summarizes the cases and opinions analyzed throughout the year and highlights anticipated trends for 2024.

Two ophthalmology practice groups recently reached settlements with the U.S. government totaling nearly $20 million to resolve allegations that their third-party cataract arrangements violated several healthcare laws.

Read on to discover how the settlements offer guidance to vision providers with respect to the government’s focus on ophthalmology-optometry relationships, and whether the settlements’ lessons have broader…

The interview below is part of a McGuireWoods series featuring interviews with C-suite leadership of private equity-backed portfolio companies. To recommend a leader for a future interview, email Holly Buckley at hbuckley@mcguirewoods.com or Tim Fry at tfry@mcguirewoods.com.

Q: How do you ensure the platform’s organizational culture is appropriately conveyed to potential targets?

Rich Goode: …

The Corporate Transparency Act (“CTA”) was enacted in 2021 as part of the Anti-Money Laundering Act of 2020, requiring certain business entities (“Reporting Companies”) to report beneficial ownership information (“BOI”), and, for entities created or registered on or after January 1, 2024, information with respect to any individual who directly files the document creating the Reporting Company (“Company Applicant”), to the U.S. Department of Treasury’s Financial Crimes Enforcement Network (“FinCEN”).  McGuireWoods described the CTA’s requirements in a previous post.  

On November 7, 2023, FinCEN announced a final rule amending its beneficial ownership information (“BOI”) reporting requirements addressing the circumstances under which Reporting Companies may use an entity’s FinCEN Identifier instead of reporting the BOI of individuals owners of that entity.

The difficulties faced by healthcare provider consolidations could be temporary or they could indicate a long-term decline in the attractiveness of consolidation. Some challenges, like high debt and labor market imbalances, are temporary and don’t reflect the fundamental quality of the businesses involved.

On this episode of The Corner Series, McGuireWoods’ Geoff Cockrell is…

Notable litigation filed during October 2023 includes: California Land Acquisition and Development Inc. v. Eran Drori, et al.  Additionally, cryptocurrency and the potential for fraud surrounding the increasingly popular industry were on display during the month of October with the trial and conviction of Sam Bankman-Fried, founder of the cryptocurrency exchange company FTX.

Thoma Bravo has completed its acquisition of NextGen Healthcare, according to a news release.

NextGen, founded in 1994 and based in Atlanta, is a provider of healthcare software services.

Thoma Bravo paid $23.95 for each NextGen share in a transaction valued at approximately $1.8 billion. NextGen has now become a privately held company.

Thoma Bravo…

On this episode of The Corner Series, McGuireWoods’ Geoff Cockrell invites Alessio Baraldi, managing director at Albaron Partners, to discuss value creation in healthcare provider services. Alessio provides insight into the equity structures that work best for his portfolios and how he approaches compensation to keep everyone aligned.“In an environment where there…