False Claims Act Is Again in Focus, This Time in New York
In a decision that will be hard to ignore, on August 30, 2019, the Supreme Court of the State of New York, County of New York, ruled that the defendants, an international bank and various of its affiliates, were not entitled to judgment as a matter of law for their failure to self-assess and pay interest on late-reported unclaimed property under New York’s False Claims Act (FCA). The court’s ruling allows the qui tam lawsuit against the defendants to continue and could have broader implications for unclaimed property holders that report unclaimed property to New York.
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