NY assembly finds ‘overwhelming evidence’ Cuomo engaged in sexual harassment

The New York state Assembly Judiciary Committee said Monday it found “overwhelming evidence” that disgraced former Gov. Andrew Cuomo engaged in sexual harassment while in office, concluding an eight-month impeachment investigation into multiple allegations of misconduct. The judiciary committee’s 60-page report, which detailed the investigation by law firm Davis Polk & Wardwell LLP, said Cuomo …

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Corporate Bankruptcies Hit Precipitous High in March

Nearly double the number of companies entered bankruptcy in March than in February, the largest number in a single month since July, according to S&P Global Market Intelligence. A total of 61 companies entered bankruptcy last month, and while the pace of filings has slowed year-over-year, that number hearkens back to the dog days of summer …

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The 10 biggest retail bankruptcies of 2020

More than three dozen retailers, including the nation’s oldest department store chain, filed for bankruptcy this year, marking an 11-year high. Pre-pandemic, several of these retailers were already teetering on the brink of survival. But the Covid health crisis pummeled the industry. Lockdown orders put in place in March to slow the spread of the virus turned …

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Purdue Pharma proposes $10 billion plan to come out of bankruptcy

Purdue Pharma, which helped revolutionize the prescription painkiller business with its drug OxyContin, is proposing a $10 billion plan to emerge from bankruptcy that calls for it to be transformed into a different kind of company funneling profits into the fight against the nation’s intractable opioid crisis. Those efforts would include a significant boost – …

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The NRA declares bankruptcy: 5 questions answered

What precipitated this announcement? New York Attorney General Letitia James sued the NRA in 2020 over alleged financial irregularities, such as improperly making millions of dollars in payments to benefit longtime leader Wayne LaPierre and other executives. Among the lawsuit’s allegations is a claim that the NRA tried to disguise trips to the Bahamas and other forms of lavish …

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One year into pandemic, Main Street bankruptcies continue

From iconic department stores to entertainment giants, the coronavirus has seemingly spared no one in its devastation of the U.S. economy. Falling consumer demand, reduced entertainment spending, and stay-at-home orders mandating certain businesses stay closed continue to take their toll on a retail industry that has been struggling for the past several years as consumers pivot to …

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