Market Chatter: Sanofi to Pay More Than $100 Million to Settle 4,000 Suits Alleging Zantac Causes Cancer
The Securities and Exchange Commission on Friday charged an auditing firm hired by Trump Media and Technology Group just 37 days ago with “massive fraud” — though not for any work it performed for former President Donald Trump’s media company. The SEC charged the accounting firm BF Borgers and its owner, Benjamin F. Borgers, with “deliberate and systematic failures” in more than 1,500 audits. To settle the SEC charges, BF Borgers agreed to pay a $12 million fine while its owner agreed to pay a fine of $2 million, according to the SEC.
(Bloomberg) -- Judge Amit Mehta presided over two days of closing arguments, concluding on Friday, in the US antitrust challenge to Alphabet Inc. Now he’ll head off for weeks or months to consider a ruling that could have significant consequences across the tech industry. Most Read from BloombergEverything Apple Plans to Show at May 7 ‘Let Loose’ iPad EventFrance’s Macron Calls for Reset of Economic Ties With ChinaBerkshire Cash Hoard Scores Another Record as Earnings GainThe World’s Hunger for
Henrik Fisker stood on a stage last August and proudly debuted two prototypes designed to catapult his eponymous EV startup Fisker into the mainstream. There was the Pear, a low-cost EV meant for the masses, and the Alaska, Fisker’s entry into the red-hot pickup truck market. In the weeks that followed, Fisker stopped paying the engineering firm that helped develop those vehicles, according to a previously unreported lawsuit filed in federal court this week.
Delivery company DHL will pay $8.7 million to settle a class race discrimination lawsuit alleging that the company assigned Black workers to more dangerous routes than white workers. The post DHL to pay $8.7M to settle EEOC race discrimination lawsuit appeared first on FreightWaves.
The Securities and Exchange Commission on Friday banned an accounting firm that was registered as the auditor for Trump Media & Technology Group. BF Borgers failed to comply with regulatory standards when it reviewed more than 1,500 SEC filings from 2021 to 2023, the SEC said. In some cases, BF Borgers used workpapers from previous audits, changing only the relevant dates, and passed them off as workpapers for a current audit period, the SEC said.
Kim Kardashian's intimates brand has been accused of wiretapping consumers by using Meta Pixel technology in a new class-action lawsuit.
Google has filed an injunction telling the court that it will not give Epic what it wants without a fight, because the company's asks "stray far beyond the trial record."
WASHINGTON (Reuters) -Google and the U.S. Justice Department wrapped up closing arguments on Friday over claims that the Alphabet unit has unlawfully dominated web search and related advertising, in a case the government contends could shape the “future of the internet.” U.S. District Judge Amit Mehta in Washington for hours grilled both sides with questions, probing whether competitive platforms such as ByteDance’s TikTok and Meta’s Facebook and Instagram are competitive substitutes for search advertising dollars. Mehta said a central issue was platform “substitute-ability” for advertisers, which the court must resolve.
(Bloomberg) -- Nomura Holdings Inc. and Mizuho Financial Group Inc. are facing more than $100 million of potential losses tied to a series of failed stock trades made by investment fund All Blue Capital.Most Read from BloombergSaudi Arabia Steps Up Arrests Of Those Attacking Israel OnlineApple Rallies Most in 18 Months on Upbeat Forecast, BuybackTurkey Confirms All Trade Halt With Israel Over War in GazaTrump Auditions VP Picks Before Wealthy Donors in Palm BeachHuawei Secretly Backs US Research
Berkshire Hathaway's first quarter profits plummeted along with the paper value of its investments, but the company said Saturday that most of the businesses it owns outright performed well. The figures were heavily influenced by a large drop in the paper value of Berkshire’s investments. Buffett encourages investors to pay more attention to the conglomerate’s operating earnings that exclude the investment figures.