FTX is seeking to claw back more than $240 million it paid for stock trading platform Embed, saying former FTX insiders including indicted founder Sam Bankman-Fried did no investigation before buying the essentially worthless bug-ridden platform.
FTX closed on the acquisition just six weeks before the crypto exchange collapsed into bankruptcy in November. FTX recently tried to sell Embed, but the highest bidder was its founder Michael Giles, who offered only $1 million. Most of the $70 million FTX earlier paid as retention bonus to Embed employees went to Giles, the lawsuit claims.
|
Enjoy moves news? Please take this one-question survey to let us know how you’d like to read Career Tracker.
|
U.S. House Republicans criticized the U.S. Equal Employment Opportunity Commission, which enforces workplace discrimination laws, for what they said was its “subpar performance” during the Biden administration. The number of pending complaints had increased from 42,811 in 2021 to 51,399 in 2022, according to a report.
EEOC Chair Charlotte Burrows cited the significant rise in complaints stemming from the pandemic as people returned to work, as a reason for increasing backlogs. While it was led by appointees of former President Donald Trump, the EEOC reduced its backlog of cases to the lowest levels in more than a decade.
|
