Purdue Pharma Is Dissolved and Sacklers Pay $4.5 Billion to Settle Opioid Claims

NEW YORK TIMES

Purdue Pharma, the maker of the highly addictive painkiller OxyContin, was dissolved on Wednesday in a wide-ranging bankruptcy settlement that will require the company’s owners, members of the Sackler family, to turn over billions of dollars of their fortune to address the deadly opioid epidemic. read more »

SEC Charges Global Crypto Lending Platform and Top Executives in $2 Billion Fraud

SEC

The Securities and Exchange Commission announced today that it has filed an action against BitConnect, an online crypto lending platform, its founder Satish Kumbhani, and its top U.S. promoter and his affiliated company, alleging that they defrauded retail investors out of $2 billion through a global fraudulent and unregistered offering of investments into a program involving digital assets. read more »

U.S. SEC opens probe into EV company Workhorse Group

REUTERS

The U.S. Securities and Exchange Commission (SEC) has opened a probe into electric vehicle maker Workhorse Group Inc (WKHS.O), an early investor in Lordstown Motors Corp (RIDE.O), according to a letter from the regulator published by a short seller. read more »