Drug companies seek billion-dollar tax deductions from opioid settlement

WASHINGTON POST

Four companies that agreed to pay a combined $26 billion to settle claims about their roles in the opioid crisis plan to deduct some of those costs from their taxes and recoup around $1 billion apiece. read more »

GameStop surge reportedly under federal investigation for possible manipulation

THE VERGE

Several U.S. government agencies are investigating the GameStop stock brouhaha to determine whether there was market manipulation involved, The Wall Street Journal reported. An enthusiastic group of day traders on Reddit’s r/WallStreetBets board encouraged each other to buy the stock and created what’s known as a short squeeze. read more »

Florida man pleads guilty to using PPP loans to purchase Lamborghini

THE HILL

A Florida man on Wednesday pleaded guilty to charges in connection with fraudulently obtaining nearly $4 million in Paycheck Protection Program (PPP) loans, some of which were used to buy a Lamborghini sports car. read more »