Controversial pharma executive Martin Shkreli has been charged with misappropriating money from investors in hedge funds that he managed and lying about their financial performance to cover up his trading losses.
Federal prosecutors accused Shkreli of ensnaring investors through “a web of lies and deceit” while he ran the MSMB Capital management and MSMB Healthcare hedge funds and then misappropriating the assets of Retrophin, the drug company he founded in 2011, to pay off disgruntled investors. Read more.
BlackBerry announced better-than expected quarterly results on Friday, suggesting its new focus on software is gaining traction.
The Canadian company has been pushing higher-margin software and services to manage and secure enterprise mobile networks after its attempt to compete with Apple and Samsung in the consumer smartphone market “failed spectacularly,” The Wall Street Journal said. It has augmented the software push with the development of handsets that foster worker productivity. Read more.
Martin Shkreli raided his pharmaceutical companies to cover up his hedge fund trading losses, said federal prosecutors.
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The Swiss company joins other insurers that have been expanding into crop coverage to bet on long-term growth in food demand.
The ex-corporate attorney and deal maker takes stock after half a year as the technology giant’s North American finance chief.
Third-quarter results show Blackberry is making progress with higher-margin software and handsets that foster worker productivity.
The oil driller has a debt-for-equity swap in place with a bondholder group that will erase more than $400 million in debt from its books.
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