Troutman Pepper Locke State Attorneys General Team

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Recently, a matter involving North Carolina Attorney General (AG) Josh Stein made headlines when it was announced that Affiliated Monitors Inc. would take over monitorship of HCA Healthcare. This relates to HCA’s compliance with the conditions set forth in an asset purchase agreement involving six North Carolina hospitals it acquired when it purchased Misson Health System in 2019 for $1.5 billion.[1] In addition to approving the asset purchase agreement, Stein sued HCA in a separate matter at the end of 2023 based on allegations of mismanagement, including inadequate staffing and lack of sterile equipment among other cost-cutting measures. While HCA is seeking dismissal of the lawsuit, in the asset purchase matter, both HCA and Stein consented to the use of a monitor, as well as this change. Stein stated, “[a] strong, independent and transparent monitor will go a long way in ensuring that HCA upholds it commitments” and “ensur[ing] that the people of western North Carolina have access to high-quality health care.”

North Carolina Attorney General Josh Stein led a bipartisan coalition of eight state AGs, including Arkansas, Indiana, Michigan, Missouri, North Dakota, Ohio, and Texas, in requesting the District Court in the Southern District of Texas to amplify measures against John Caldwell Spiller, a repeat offender of federal and state telemarketing and telephone privacy laws.

New York Attorney General (AG) Letitia James is suing JBS USA Food Company and JBS USA Food Company Holdings under New York’s consumer protection laws for allegedly attempting to boost consumer sales by making sustainability claims in its advertising that it had “no viable plan” for achieving.

New York Attorney General (AG) Letitia James filed a lawsuit on March 5 against Yellowstone Capital, its founder David Glass, and a network of 30 other affiliated companies and individuals. James alleges that Yellowstone Capital, acting through a myriad of different company names, engaged in an orchestrated predatory lending scheme. James’ lawsuit is among a wave of recent enforcement actions targeting alleged deceptive financial practices.

As we look ahead to 2024, significant changes are underway in state attorney general (AG) elections, with 10 AGs facing reelection due to incumbents pursuing other offices or opting out. Open seats in North Carolina, Oregon, Pennsylvania, Utah, Washington, and West Virginia, indicate that at least six new AGs will come into power. Additionally, Indiana, Missouri, Montana, and Vermont will hold their AG elections, with incumbents facing challengers in those races.

On February 29, the state of Montana, supported by seven other states, filed an amicus brief arguing that the Securities and Exchange Commission (SEC) lacks authority to regulate crypto assets. The attorneys general (AG) submitted the brief in response to the SEC’s enforcement action alleging violations of the Exchange Act against Payward, a secondary market crypto platform. The AGs argue that the SEC’s position, with respect to regulating the crypto market, may potentially preempt consumer protection and other state laws, thus disrupting the traditional division of powers between the states and the federal government.