SEC Charges Cheetah Mobile’s CEO and its Former President with Insider Trading

SEC

The Securities and Exchange Commission today charged the CEO of Cheetah Mobile Inc. and the company’s former President with insider trading for selling Cheetah Mobile’s securities, pursuant to a purported 10b5-1 trading plan, while in possession of material nonpublic information. The SEC’s order finds that Sheng Fu, the company’s CEO, and Ming Xu, its then-President and Chief Technology Officer, jointly established a purported 10b5-1 trading plan after becoming aware of a significant drop-off in advertising revenues from the company’s largest advertising partner. read more »

Insurance giant Centene to pay Texas $166 million in Medicaid drug pricing settlement

TEXAS TRIBUNE

Health insurance giant Centene Corp. has agreed to pay $165.6 million to Texas to resolve claims that it overcharged the state’s Medicaid program for pharmacy services. read more »

‘Fat Leonard’, fugitive contractor in US navy’s worst corruption scandal, arrested in Venezuela

THE GUARDIAN

A Malaysian defense contractor nicknamed “Fat Leonard” who orchestrated one of the largest bribery scandals in US military history has been arrested in Venezuela after fleeing before his sentencing, authorities say. read more »