Jury finds Platinum Partners founder guilty in fraud trial

Mark Nordlicht, the founder of defunct hedge fund firm Platinum Partners, was found guilty on Tuesday of defrauding bondholders of an oil exploration company Platinum controlled, but cleared of charges that he defrauded investors in Platinum’s hedge funds.

Prosecutors charged Nordlicht, Levy and SanFilippo with fraud in December 2016, saying they and others at Platinum bilked investors out of “millions and millions of dollars” in two different schemes.

In one scheme, the three men were accused of lying to investors about the health and liquidity of its flagship fund, Platinum Partners Value Arbitrage. Prosecutors said Platinum operated “like a Ponzi scheme” by using new money to fund redemptions by earlier investors, a practice referred to internally as “Hail Mary time.” read more »

Judge dismisses Johnson & Johnson's request to toss out lawsuit over opioids crisis

Oklahoma judge says there’s sufficient evidence alleging that the company played a leading role in creating the epidemic

Pharmaceutical giant Johnson & Johnson has a legal case to answer over accusations that it drove the US opioid epidemic now claiming 130 lives a day, an Oklahoma judge has ruled.

After a fiery hearing on Monday, with accusations of lying, Judge Thad Balkman dismissed a motion by the company to toss out a multi-billion dollar lawsuit by Oklahoma’s attorney general. He said the state has presented sufficient evidence for the trial to continue. read more »

Boeing deliveries fall 37%, set to lose biggest planemaker title

Boeing Co said on Tuesday its deliveries fell about 37% to 239 planes in the first half of 2019, hurt by the grounding of its best-selling 737 MAX jets, putting it on track to lose the world’s biggest planemaker title after eight years. read more »