Richard Hong Quoted in Miami Herald on Federal Authorities’ Focus on LifeWallet Software
Partner Richard Hong was quoted in a Miami Herald article entitled “Algorithms Powering John Ruiz’s Company Being Probed by SEC, Justice Department.” The article discussed how the problem-solving software algorithms — the core of John Ruiz’s health-insurance claims company, LifeWallet — are now the focus in the ongoing investigation by the Securities and Exchange Commission and the Department of Justice.
Richard, a former federal prosecutor and senior SEC trial lawyer, said that it comes as no surprise that authorities are focusing on LifeWallet’s software because its data analysis is touted as the force behind its business of recovering health insurance claims. “These days, in the age of AI, a company’s alleged secret sauce is frequently claimed as some proprietary algorithm or AI-driven technology,” he said. “So, both the Justice Department and SEC are looking into such claims more intensely these days.”
Miami Herald subscribers may read the full article here.
Contacts
- Richard Hong Partner
- rhong@morrisoncohen.com
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