Billionaire Insys Founder Resigns After Charges in Opioid Bribery Case

The billionaire founder of Insys Therapeutics Inc (INSY, -22.71%) , John Kapoor, has resigned from the company’s board of directors, Insys said in a statement on Sunday. Kapoor was arrested on Thursday on U.S. charges he participated in a scheme to bribe doctors to prescribe a fentanyl-based cancer pain drug, marking a step by authorities to fight the opioid epidemic. read more »

SEC fines UBS $3.5 million for overcharging mutual fund customers

UBS AG will pay a $3.5 million civil fine to settle U.S. Securities and Exchange Commission claims that it overcharged customers on mutual funds, the regulator said on Friday. read more »

In a Mortgage-Crisis Settlement, Did a Bank Get Off Easy?

In January, prosecutors concluded one of the last multibillion-dollar settlements related to the 2008 mortgage collapse. The deal, with Credit Suisse, required the bank to pay $2.48 billion to settle allegations that its securities unit had misled buyers of home-loan bundles it had sold between 2005 and 2007. read more »

Questions over Montana firm's Puerto Rico deal grow as FEMA cites concerns

Questions over a multi-million dollar contract between Puerto Rico’s power utility and a small Montana firm to repair storm damage grew on Friday as federal emergency officials raised “significant concerns” about the deal.

The Federal Emergency Management Agency, in a statement, said that after its initial review it “has not confirmed whether the contract prices are reasonable” under the agreement between Puerto Rico Electric Power Authority (PREPA) and Whitefish Energy Holdings.

The $300 million contract between PREPA and Whitefish was awarded to the two-year old firm with just two full-time employees without a competitive bidding process, according to media reports. read more »