An Ode to the Feeble Corporate Apology

Some of America's biggest capitalist entities are begging for forgiveness on TV – while barely acknowledging their sins

Three of America's biggest companies – Facebook, Wells Fargo and Uber – have been offering up vague apologies via television commercials in recent weeks. If you watch the Cavs-Dubs game tonight, you'll probably catch one or all of them.

Have a bucket handy.

All three entities are apologizing for recent scandals, all three are pledging to change their ways and all three are basically rolling out the same script

“Hi, America. We were awesome for a long time. Here are some culturally representative shots of people like you smiling and enjoying our services. After repeated denials, we recently had to admit to violating your trust, but the unelucidated bad thing doesn't have to come between us. We promise: we fixed that shit. You will now wake up feeling refreshed in 3,2,1”… read more »

Cambridge Analytica CEO reportedly embezzled $8 million

Investors are trying to get the money back from Alexander Nix.

If you thought the Cambridge Analytica saga was over with the company's shut down and filing for bankruptcy, you were definitely wrong. According to The Financial Times, the company's former CEO Alexander Nix has been accused of stealing $8 million dollars from Cambridge Analytica before its demise.

The theft reportedly occurred after journalists started digging into Cambridge Analytica and Facebook, but before the company shut down for good. Investors want to rebrand and relaunch the firm, but The Financial Times reports that Nix has refused to return the money. read more »

Allegiance Health Management to Pay More Than $1.7 Million to Resolve False Claims Act Allegations

The Justice Department announced today that Allegiance Health Management, Inc., (Allegiance), a post-acute healthcare management company based in Shreveport, Louisiana, and four hospitals owned and operated by Allegiance (collectively, the Allegiance Defendants), have agreed to pay more than $1.7 million to resolve False Claims Act allegations that the Allegiance Defendants submitted, and caused other hospitals to submit, claims for reimbursement from Medicare for services that were not medically reasonable or necessary. 

The settlement with Allegiance resolves a lawsuit filed in the Eastern District of Arkansas under the whistleblower provision of the False Claims Act, which permits private parties to file suit on behalf of the United States for false claims and share in a portion of the government’s recovery.  read more »

Credit Suisse to pay $47 million to settle hiring corruption probe

Credit Suisse will pay a penalty of about $47 million to resolve a U.S. Department of Justice corruption probe into its hiring practices in the Asia Pacific region between 2007 and 2013, the Swiss bank said in a statement on Wednesday.

The U.S. investigation looked into whether Credit Suisse hired referrals from government agencies in Asia in exchange for business. Other banks have made payments to resolve similar U.S. Foreign Corrupt Practices Act investigations, including JPMorgan Chase & Co read more »