Picking up where 2020 left off, the False Claims Act (“FCA”) continued to be a key tool in 2021 for the Justice Department and whistleblowers to bring suits against companies, including those in the financial services sector. The Justice Department obtained more than $5.6 billion in settlements and judgments in 2021, the largest amount since 2014. While the focus in 2021 was largely on the healthcare industry, corporations remain at risk of huge financial penalties under the FCA. Whistleblowers filed 598 qui tam suits in 2021, and whistleblower-filed suits resulted in over $1.6 billion in settlements and judgments. Companies need to take the necessary steps to prevent FCA violations and be particularly mindful of potential whistleblowers who may envision significant paydays for bringing a successful FCA claim. To keep you apprised of the current enforcement trends and the status of the law, Bradley’s Government Enforcement and Investigations Practice Group is pleased to present the False Claims Act: 2021 Year in Review, our tenth annual review of significant FCA cases, developments and trends.
