NY State AG Targets Private Equity for Tax Related FCA Violations
Client Alert | 1 min read | 04.20.17
On April 18, the New York Attorney General’s Office announced a $40 million settlement with a hedge fund under the state’s False Claims Act, arising out of whistleblower allegations that members of the fund’s investment manager failed to pay millions in New York State tax on performance income for several years. According to the AG, the settlement reflects “the largest tax-related recovery by the Attorney General’s office resulting from an action filed under the New York False Claims Act.” As firms evaluate their exposure to state-level FCA claims, it is worth noting that the state’s FCA was amended several years ago to cover tax claims, in a bill sponsored by the current AG.
Insights
Client Alert | 1 min read | 04.18.24
GSA Clarifies Permissibility of Upfront Payments for Software-as-a-Service Offerings
On March 15, 2024, the General Services Administration (GSA) issued Acquisition Letter MV-2024-01 providing guidance to GSA contracting officers on the use of upfront payments for acquisitions of cloud-based Software-as-a-Service (SaaS). Specifically, this acquisition letter clarifies that despite statutory prohibitions against the use of “advance” payments outside of narrowly-prescribed circumstances, upfront payments for SaaS licenses do not constitute an “advance” payment subject to these restrictions when made under the following conditions:
Client Alert | 4 min read | 04.18.24
Client Alert | 6 min read | 04.16.24
Navigating the AI Intellectual Property Maze - Key Points From Congressional Hearing
Client Alert | 5 min read | 04.15.24
Making the EU Courts More Efficient for Trade-Related Decisions
