The sudden collapse of SmileDirectClub has stranded users of its clear-plastic, removable teeth aligners — in some cases just weeks after they were given a discount for paying up front.
Why it matters: Customers experiencing problems with their treatment will not be able to get new aligners, treatment, or other support from the company.
Zulily, an online retailer owned by private equity firm Regent LP, is shutting down and blaming Amazon via an antitrust lawsuit.
Why it matters: This isn't the first time that an e-commerce company has accused Amazon of abusing its market power, although it's the first to leverage information contained in the FTC's recent lawsuit.
The largest pharmacy chains in the U.S. give patients' medical records to law enforcement without warrants, a new congressional investigation found.
Why it matters: Legislators urged the Department of Health and Human Services — for the second time this year — to revise HIPAA regulations to protect Americans' medical records.
Why it matters: The new position comes as media organizations look to leverage artificial intelligence in the newsroom and experiment with the technology, while still grappling with ethical choices to protect public trust.
U.S. shale oil deals are booming, in defiance of the broader M&A slowdown and talk about an energy transition.
Driving the news: Occidental Petroleum yesterday said it would pay around $12 billion to buy CrownRock, an energy producer focused on the Permian Basin in West Texas.
French pharma company Sanofi scrapped a $750 million drug licensing deal with California-based Maze Therapeutics, just hours after the FTC sued to block the arrangement.
Why it matters: This is a significant, and de factosuccessful, expansion of the Biden administration's "killer acquisition" theory, to a drug that's still in the early stages of development.
KuCoin, a Seychelles-registered cryptocurrency exchange, has settled with New York State for $22 million over operating an unregistered exchange.
Details: New York Attorney General Letitia James announced the settlement today, detailing $16.7 million in refunds to residents of New York State who used the site and $5.3 million in fines.
A Philadelphia-based mall owner's 2020 bankruptcy deal was supposed to provide a bridge to better times. But then the Federal Reserve started raising interest rates.
Driving the news: Pennsylvania Real Estate Investment Trust, or PREIT, filed for Chapter 11 bankruptcy late Sunday. The filing is effectively a "Chapter 22" — industry slang for a repeat filer.
Hasbro is laying off some 1,1000 employees, the toymaker announced Monday in a memo to staff that was shared in an SEC filing.
The big picture: The maker of children's favorites like Peppa Pig and Transformers action figures, along with Monopoly and the Dungeons & Dragons fantasy game has already laid off 800 workers, according to the memo.
Google's Play Store violates antitrust laws, a federal jury found Monday, deciding a lawsuit filed by Epic Games.
Why it matters: For years, Google and Apple have argued that their app stores' rules and restrictions exist to benefit consumers. This decision, if it survives the appeal process, could upend how the two major mobile operating systems control the distribution of third-party apps on devices.
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