Recalcitrant states agreed to sweet opioid deal with Sacklers | Robins Kaplan LLP

Friday jobs report again! Here’s what we’re looking for in the numbers (although after last month, good luck with any predictions) – NY Times and WSJ and Bloomberg and Marlet

The Sackler family and their company Purdue Pharma have struck a new deal “with a group of states that had long resisted the company’s bankruptcy plan, paving the way for billions of dollars to start flowing into treatment programs drug addiction nationwide. The agreement must be approved by the federal bankruptcy court. It includes an additional $1.5 billion in settlement funds from the Sacklers in return for the family’s “long-desired end to all current and future civil lawsuits against them relating to prescription opioid business.” of the company” – NY Times and WSJ and Law360

Amazon is pushing the FTC to “issue a verdict on its proposed $6.5 billion acquisition of film and television studio MGM” by certifying that it has “provided all information requested by antitrust investigators.” That certification sets off “a countdown clock for the FTC that expires in mid-March,” and if the Commission doesn’t file a legal challenge by that quickly approaching date, Amazon “could be free to make the deal” (although that the FTC can still challenge for a post-closing period) – WSJ

Sony and Honda have announced two major initiatives in which the Japanese electronics and automotive giants will join forces to “develop electric cars for sale as early as 2025” – NY Times and WSJ and Bloomberg and Tech Crunch

Epic Games, the company behind a recent high-profile battle with Apple over its App Store fees (and maker of the popular Fortnite franchise), has agreed to acquire online music platform Bandcamp. The site “has become a favorite outlet for musicians to give them control over how their music is shared and sold and to give artists the bulk of the revenue they receive from these transactions” – NY Times

More on Fed Chairman Powell’s final trip to the Hill, including highlights from his testimony before the Senate Banking Committee – NY Times and WSJ and Bloomberg and Law360

The latest victory for a resurgent labor movement came at a New York-based REI store, where workers voted on Wednesday to create “the outdoor gear and apparel retailer’s only union” in a vote of 88 against 14 – NY Times

Electric vehicle maker Rivian is “returning to a steep price increase for its electric trucks and SUVs that was put into effect earlier this week”, with CEO RJ Scaringe rushing to “apologize” yesterday.[] customers to apply the price increase retroactively” – WSJ and Bloomberg

Some light weekend reading for you on the mysteries of human cells (and the arduous quest to build them ourselves) – New Yorker

Stay safe, boost yourself and have a great weekend,

MDR

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