McKinsey & Company, the world’s premier consulting firm, will pay nearly $600 million to settle claims by U.S. states relating to McKinsey’s work for opioid manufacturers and distributors. This seems like a lot. It may represent value for money. But for whom? McKinsey’s Seizes First-Mover Advantage First Nationwide Settlement McKinsey’s settlement comprises 47 states, four…

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Media billionaire Jeffrey Katzenberg recently pulled the plug on Quibi, his own start-up. As with any other box-office bomb, the post-mortem blame game may prove more creative, entertaining — and instructive — than the feature itself. Katzenberg founded Quibi with former eBay CEO Meg Witman. They raised $1.75 billion in start-up capital. This C-suite power…

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Former Wells Fargo CEO John Stumpf just paid $2.5 million in civil fines. Is the bank’s fake-account scandal finally over? Not for shareholders. The Fake Account Scandal People may remember the nationally televised @ss whuppin’ Senator Elizabeth Warren delivered to then Wells Fargo CEO John Stumpf. On Stumpf’s watch, 5,300 Wells Fargo employees opened as…

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Purdue Pharma has given up the ghost. The company faced $2.2 trillion in state and consumer claims, as well as $18 billion in sanctions from the federal government. The company will be reborn, but as what? Balrogs v Trial Lawyers Yes, Middle Earth has its wizard-killing Balrogs. But what creatures, for bloodthirsty, flesh-ripping rage, can…

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COVID shifts compliance-hotline calls in weird ways. Can you solve the mystery? Yesterday, I spoke with the Director, Ethics & Compliance of a major U.S. manufacturer. She told me that calls to her company’s compliance hotline have not lessened, but the wrongdoing has shifted from fraud and harassment to COVID protocol violations. At the same…

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