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The U.S. Securities and Exchange Commission has charged venture capitalist Mike Rothenberg with “overcharging investors to fund personal projects, including sending millions of dollars to his own virtual reality production company,” according to a press release.

Why it matters: Without admitting or denying the charges, Rothenberg and his firm have agreed to settle the lawsuit, which is subject to approval from federal court. They have also agreed to be barred from the brokerage and investment advisory business for five years. This comes as Rothenberg has been working to revive his venture capital career and profile since the firm initially ran into troubles. His firm was known for hosting extravagant parties, which were paid for in part by investors' funds, according to the SEC.

Go deeper

26 mins ago - Health

Standardized testing becomes another pandemic victim

Photo: Edmund D. Fountain for The Washington Post via Getty

National standardized reading and math tests have been pushed from next year to 2022, the National Center for Education Statistics (NCES) announced Wednesday.

Why it matters: There’s mounting national evidence that students are suffering major setbacks this year, with a surge in the number of failing grades.

50 mins ago - World

European countries extend lockdowns

A medical worker takes a COVID-19 throat swab sample at the Berlin-Brandenburg Airport. Photo by Maja Hitij via Getty

Recent spikes in COVID-19 infections across Europe have led authorities to extend restrictions ahead of the holiday season.

Why it matters: "Relaxing too fast and too much is a risk for a third wave after Christmas," said European Commission President Ursula von der Leyen.

2 hours ago - Health

Africa CDC: Vaccines likely won't be available until Q2 of 2021

Africa CDC director Dr. John Nkengasong. Photo: Mohammed Abdu Abdulbaqi/Anadolu Agency via Getty

Africa may have to wait until the second quarter of 2021 to roll out vaccines, Africa CDC director John Nkengasong said Thursday, according to the Associated Press.

Why it matters: “I have seen how Africa is neglected when drugs are available,” Nkengasong said.