House of pain: who are the Sacklers under fire in lawsuits over opioids?

The Sackler name graced some of the world’s top museums and universities. But now key family members are being sued over the US opioid crisis – and their wealth and reputation are under threat

Eight members of the billionaire Sackler family who own Purdue Pharma, the maker of the controversial opioid prescription painkiller OxyContin, are being sued by multiple American cities, counties and states. Allegations in civil lawsuits include that “eight people in a single family made the choices that caused much of the US opioid epidemic” – via a “deadly, deceptive … illegal scheme”. read more »

Barclays, JP Morgan among banks facing UK class action over forex-rigging

Barclays, JP Morgan, RBS, UBS and Citigroup are being sued by investors over allegations they rigged the global foreign exchange market, in a test of U.S.-style class actions in Britain.

The claim, estimated to be worth more than 1 billion pounds ($1.24 billion), was filed at the Competition Appeal Tribunal 

Some of the world’s biggest investment banks have already paid more than a combined $11 billion in fines to settle U.S., British and European regulatory allegations that traders rigged the currency markets.

Litigators have long hoped to replicate in Britain the success of U.S. class action claims against banks, including Goldman Sachs, HSBC and Barclays, that have resulted $2.3 billion in settlements for big investors. read more »

3M discloses investigation into irregularities in China

Company found irregularities in expenditures, filings say.

3M launched an internal investigation this week after discovering irregular travel, marketing and record-keeping by certain business groups in China, company officials disclosed Friday in a government filing.

"The company initiated an internal investigation to determine whether the expenditures may have violated the U.S. Foreign Corrupt Practices Act or other potentially applicable anti-corruption laws," said the filing with the U.S. Securities and Exchange Commission. read more »