Bausch Health Agrees to Pay $45 Million to Settle SEC Dispute – WSJ

Bausch Health Cos BHC -3.08% . agreed Friday to pay $45 million to resolve regulatory claims that it improperly booked some revenue and misled investors about the impact of a significant price increase on a single drug. The Securities and Exchange Commission said three former executives also agreed to pay penalties to settle the agency’s…

Two senators demand answers from Wells Fargo following NBC News reports

Citing a recent investigation by NBC News, two U.S. senators have asked the chief executive of Wells Fargo to answer extensive questions about the bank’s practice of pausing mortgage payments for borrowers without their consent under a federal program designed to help homeowners financially hurt by COVID-19. The senators, Elizabeth Warren of Massachusetts and Brian…

Shareholders pay the price for corruption | Minerva-Manifest

Reflecting the materiality of corruption and risk to shareholders, and to mark International Anti-Corruption Day, (Monday, 9 Dec 2019) Minerva is announcing the inclusion of a new anti-corruption metric in its pre-AGM research reports. Alongside indicators for climate change, cyber-security and tax governance, the new corruption indicator and voting guidelines will help investors take an…

How Corporate Lawbreakers Get a Leg Up at the Justice Department

The Project On Government Oversight (POGO) revealed in August that top political appointees at the Justice Department’s headquarters in Washington, DC, overruled career federal prosecutors who sought to bring a felony charge against biotech giant Monsanto for illegally spraying a highly toxic pesticide in Hawaii. This happened after attorneys for Monsanto, including a former head…

For Facebook and Alphabet, Big-Ticket Fines Cause Limited Pain – WSJ

VEA Vice Chair Nell Minow is quoted in this Wall Street Journal story about whether the penalties Facebook will be paying is enough to discourage further abuses. Financial penalties typically are meant to discourage further misbehavior or make victims whole, said Nell Minow, vice chair of ValueEdge Advisors, a corporate-governance consulting firm for investors.“That second…

Opioid-maker CEO convicted of racketeering for bribing doctors to prescribe addictive painkiller.

This is an enormously important development and underscores the crucial role that investors can play in making sure that incentive compensation and other elements of risk management are aligned with long-term, sustainable returns. A federal jury on Thursday found the top executives of pharmaceutical company Insys Therapeutics guilty of criminal racketeering for orchestrating an elaborate…