Morning Agenda: Fining Apollo, When Deals Go Sour, and Controversy at Turing
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Martin Shkreli, the former chief executive of Turing, sits with Nancy Retzlaff, its chief commercial officer, at a House Oversight and Government Reform hearing. CreditZach Gibson/The New York Times
The Securities and Exchange Commission has been scrutinizing private equity for several years, concerned that firms are not always transparent with their investors.
They’ve had plenty to chew on, but it seems the misbehavior has continued nevertheless.
On Tuesday, the S.E.C. fined Apollo Global Management about $53 million over accusations the firm misled investors on two issues and failed to supervise a senior executive suspected of misconduct. The executive was caught “improperly charging personal items and services” to Apollo funds, the S.E.C. said. The Financial Times identified the executive as Ali Rashid, a former partner…
Morning Agenda: Fining Apollo, When Deals Go Sour, and Controversy at Turing
