SEC Obtains Emergency Asset Freeze, Charges California Trader with Posting False Stock Tweets

SEC

The Securities and Exchange Commission today announced fraud charges and an asset freeze and other emergency relief against an Irvine, California-based trader who used social media to spread false information about a defunct company, while secretly profiting by selling his own holdings of the company's stock. read more »

Tech Executive Pleads Guilty to Wire Fraud and Money Laundering in Connection with PPP Loans

DOJ

A Washington man pleaded guilty today to wire fraud and money laundering in connection with his scheme to obtain over $5.5 million in Paycheck Protection Program (PPP) loans and laundering the proceeds. read more »

EU regulators team up with U.S. and UK on pharmaceutical mergers

REUTERS

EU antitrust enforcers have teamed up with their U.S. and British counterparts to share expertise on how to examine mergers in the pharmaceutical industry amid concerns such deals could push up prices or hold back innovation. read more »

Purdue Pharma to use public trusts, Sackler cash to settle opioid litigation

REUTERS

Purdue Pharma LP filed a bankruptcy plan on Monday that would resolve thousands of opioid lawsuits by restructuring the OxyContin maker into an entity that would steer profits to plaintiffs and require the company’s Sackler family owners to contribute nearly $4.3 billion to the settlement. read more »