Corporate Crime/Legal Action

Saudi Arabia’s sovereign-wealth fund bought a stake Sunday in a firm owned by billionaire Prince al-Waleed bin Talal, further intertwining the government with a high-profile investor who was once detained by the state over corruption allegations. The Public Investment Fund agreed to pay Prince al-Waleed $1.51 billion for 16.9% of Kingdom Holding Co., a figure based on the closing price on the last trading day before the transaction was announced, according to a filing with the Saudi…

Prosecutors on Friday rested their case against Ramesh “Sunny” Balwani— the top deputy and close confidant to Theranos Inc. founder Elizabeth Holmes —as the government seeks another fraud conviction against the leaders of the defunct blood-testing startup. Over nine weeks that included testimony from 24 witnesses in San Jose, Calif., prosecutors sought to convince a jury that Mr. Balwani conspired with Ms. Holmes to defraud investors and patients about the startup’s…

Match MTCH 1.74% Group Inc. withdrew its request for a temporary restraining order against Alphabet Inc.’s GOOG -1.56% Google, saying Google has made some concessions over its app store payment practices that Match Group demanded. The concessions include guaranteeing that Match apps, such as Tinder and Hinge, won’t be rejected or removed from Google’s app store for offering…

Match sued Google over Google’s Play Store payment system. Photo: Gabby Jones/Bloomberg News…

WASHINGTON—U.S. phone companies that connect robocalls from overseas would have to block calls when ordered to do so under new rules adopted Thursday by the Federal Communications Commission, in the latest government effort to end a deluge of illegal calls.For years, government and industry officials have known that a small group of relatively obscure telecom providers act as a conduit for millions of scam calls that annoy—and sometimes defraud—Americans. These companies, known as gateway providers, transfer calls that…

Nevada gambling regulators approved on Thursday a limited license for MGM Resorts International shareholder Barry Diller to work in the state’s casino industry, after questioning the billionaire about a federal investigation into his purchases of Activision Blizzard Inc. shares.The Nevada Gaming Commission, which enforces anticorruption regulations in the state’s gambling industry, voted 4-1 to approve Mr. Diller for a two-year…

In the classic hostile takeover, an aggressive acquirer pursues a reluctant quarry.But Elon Musk’s bid for Twitter Inc. appears headed to a bizarre place: Could Twitter force him to buy a company he might not actually want? Whether smokescreen, negotiating tactic, genuine concern or flight of fancy, Mr. Musk’s insistence that Twitter is overrun by spam bots has upended a deal that was eccentric from the outset and left both sides in difficult positions. Twitter shares continue to slide, and they…

Cerebral Inc. has replaced Chief Executive Kyle Robertson, according to a statement released by the company, a move Mr. Robertson called illegal after accusing board members of making him a scapegoat for the mental-health startup’s troubles.The board said in the statement that it has replaced Mr. Robertson with David Mou, the company’s president and chief medical officer. The leadership tumult comes as the company is facing a federal probe into its prescription…

Anthem Inc.’s chief information officer says he is working with Alphabet Inc.’s Google Cloud to create a synthetic data platform that will let the health insurance company better detect fraud and offer personalized care to its members. Anil Bhatt said the plan is to use algorithms and statistical models to generate approximately 1.5 to 2 petabytes of synthetic data, including artificially generated data sets of medical…

Electric-vehicle startup Rivian Automotive Inc. is suing a key supplier of seats, warning that a pricing dispute could impact production of an electric van ordered by Amazon.com Inc., according to court records.Rivian in March sued the supplier, Ohio-based Commercial Vehicle Groupaccusing it of violating the supply contracts for seats by nearly doubling an initially agreed-upon price per unit, the court filings show. Electric-vehicle startup Rivian Automotive Inc. is suing a key supplier of seats, warning that a…