Michael Avenatti indicted for allegedly defrauding Stormy Daniels

Michael avenatti in a suit
Celebrity lawyer Michael Avenatti. Photo: David McNew/Getty Images

Federal prosecutors in New York have indicted lawyer Michael Avenatti with more financial crimes on Wednesday, including misappropriating money intended for his former client Stormy Daniels.

The backdrop: Avenatti has been charged in several states, including 36 charges from federal prosecutors in California for fraud, perjury, tax evasion, embezzlement and other financial crimes. The 2 new indictments were filed in Manhattan, and include a set of charges related to his alleged attempts to extort $20 million from Nike.

Drugmaker sues feds over Medicaid rebate change

Mallinckrodt announced yesterday that it is suing the Centers for Medicare & Medicaid Services and the Department of Health and Human Services for changing the way Medicaid rebates are calculated for its pricey H.P. Acthar Gel medication.

Details: The move would require Mallinckrodt to pay back large sums of money to the federal government.