Welsh, Carson, Anderson & Stowe (WCAS) announced earlier this month that it will acquire a majority ownership stake in LIBERTY Dental Plan Corp.
LIBERTY, based in Irvine, Calif., is a dental benefits administrator. Founded in 2002, the company states it administers dental benefits in all 50 states.
WCAS, based in New York, is a…
On March 14, 2022, Russian President Vladimir Putin signed a law allowing the seizure of foreign-owned aircraft in Russia. Many aircraft in Russia are owned by international firms and leased for use in Russia. Such seizures are a likely source of insurance claims by the planes’ owners and financers.
Most commercial air carriers do not…
Chan v. Anthony, et al. was filed in the District Court for Denver County, Colorado on March 1, 2022, asserting claims under the Colorado Securities Act for securities fraud, investment advisor fraud, unlicensed broker/dealer activity, unlicensed investment adviser activity, and unregistered securities.
Tung Chan (“Chan”), Colorado’s Securities Commissioner, brought this action against Defendant David Anthony (“Anthony”) and nine unlicensed investment companies that he owned and operated (collectively with Anthony, the “Defendants”). Chan also included Anthony’s wife as a relief defendant to claw back funds from the scheme used for the Anthonys’ personal expenses.
Peloton Equity has announced it has closed a growth and recapitalization investment in Grenova.
Grenova, based in Richmond, Va., is a manufacturer of green technology for the life sciences industry. Founded in 2014, the company produces waste reduction solution, including devices that enable labs to wash and recycle pipette tips.
Peloton, based in Greenwich,…
The Russian invasion of Ukraine and the resulting sanctions Western countries have imposed on Russia have already caused potentially catastrophic losses for businesses with assets and investments in Ukraine, Russia and neighboring countries impacted by the attack. These losses could accelerate, based on a March 9, 2022, announcement by Russia’s ruling party.
According to that…
On Feb. 9, U.S. Senators Bill Cassidy and Tammy Baldwin introduced a bill that would create a Commission on Health Data Use and Privacy Protection to study the potential modernization of HIPAA. Introduction of the bill follows a recent trend of increased attention to data privacy at the federal level, both for covered entities and…
Frazier Healthcare Partners has announced the closing of Frazier Life Sciences XI with more than $987 million in capital commitments.
The new fund, which exceeded its target of $800 million, is Frazier Life Sciences’ fourth venture fund focused on biopharmaceuticals.
The firm’s announcement of the new fund comes only a few months after it had…
On March 10, 2022, the U.S. Department of Justice (DOJ) announced the appointment of Associate Deputy Attorney General Kevin Chambers to serve as the Director for DOJ’s COVID-19 Fraud Enforcement Task Force. In remarks delivered at the American Bar Association’s 37th National Institute on White Collar Crime earlier this month, U.S. Attorney General Merrick Garland announced that DOJ will be hiring 120 additional attorneys as “force multipliers” to combat pandemic-related fraud. These actions underscore President Biden’s recent statements in his State of the Union address earlier this month that he intends to bolster existing pandemic fraud efforts and target large-scale and transnational complex fraud schemes.
Beecken Petty O’Keefe & Company (BPOC) has announced it has completed the sale of Cranial Technologies.
Cranial Technologies, based in Tempe, Ariz., is a developer, manufacturer and provider of custom cranial orthotics for treating infants with plagiocephaly. Founded in 1986, the company manufactures the DOC Band, a custom cranial orthotic.
BPOC, based in…
In February, the Financial Industry Regulatory Authority released the 2022 Report on FINRA’s Examinations and Risk Monitoring Program, providing guidance to the broker-dealer industry.
Read on for a discussion of key topics addressed in this year’s report.
