Legal
DFPI Appeals Loss in OppFi True Lender Case
A California judge rejected the state's rent-a-bank theory against OppFi. Now the regulator wants three appellate judges to reverse him.
Latest — Page 2
FDA
Ziltivekimab Fails Phase 3, Novo Shares Sink 9%
Novo paid $725 million for ziltivekimab in 2020. The IL-6 drug just missed its primary cardiovascular endpoint, and shares dropped 9% within hours.
Deals
Slapped Lineage Bank With Order After $30M Deal
Four months after a $30M capital infusion, Lineage Bank faces new FDIC scrutiny, its second consent order since the Synapse collapse.
FDA
Moderna's Norovirus Shot Misses, 10% Target Holds
Moderna's norovirus shot missed its Phase 3 bar, but the real verdict lands August 5 with FDA's call on its first mRNA flu vaccine.
Legal
Fined Scoular $10.2M, but Its DPA Buries the Cartel Line
DOJ's cartel line about Scoular's $10.2M FCPA deal appears once in a 52-page document, copy-pasted straight from the press release.
Legal
Denies EWS Bid to Toss $1B Zelle Fraud Suit
A New York judge refused to toss the AG's fraud suit against EWS, letting claims over $1 billion in Zelle scam losses head to discovery.
Deals
Bets $750M on Resilience's Ohio Pen Plant
No equity changed hands, but Lilly's $750M Ohio investment says more about its manufacturing supply strategy than any acquisition of Resilience would.
FDA
Threatens FDA Suit After Panel Rejects Capricor 9-3
Capricor's CEO won't rule out suing FDA after a 9-3 adcomm loss she blames on an unsigned statistical draft the agency used as its benchmark.
Legal
New York Sues Kalshi Over Age Limits; CFTC Pushes Back
New York wants triple damages from Kalshi for unlicensed gambling. The CFTC already sued to stop the state from touching prediction markets at all.
Deals
Amazon Wires Final $21.3B of $50B OpenAI Bet
Amazon finished wiring its $50 billion into OpenAI five months early, but its SEC filing never explains why the AGI-or-IPO trigger got skipped.
AI
Claude Hacked 3 Real Organizations During Security Tests
Anthropic's own AI broke into three organizations' live systems during a security test, and two victims never noticed until the call came.
Deals
Okta Pays ~$200M for Permiso in All-Cash Deal
Okta paid ~2.5x Permiso's last funding round, per a source familiar with the deal. CyberArk's Venafi buy set the machine-identity comp a year earlier.
Legal
CareCloud Breach Hits 345,000, SSNs Exposed
CareCloud sat on the details for four months. The new filing shows SSNs, bank accounts and passports exposed together in a six-day AWS breach.
AI
xAI Sues Minnesota Over $500K-Per-Image AI Law
xAI says Minnesota's $500,000-per-image penalty leaves it no choice but to gut Grok Imagine's editing tools for users before August 1.
Deals
Caldera, Vidya Raise $478M in Reverse Mergers
Two shells, $478M in fresh cash: Caldera values a failed biotech's carcass at $18M, Vidya's buyer keeps just 0.9% of the combined company.
