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LONDON (AP) — Some public health experts are criticizing the U.S. for securing a large supply of the only drug licensed so far to treat COVID-19. The U.S. government announced this week that it had an agreement with Gilead Sciences to make the bulk of their production of remdesivir available to Americans for the next three months. A senior lecturer at the University of Sussex called the U.S. agreement “disappointing news." Until now, the California-based Gilead had donated the drug. That ended Tuesday and Gilead has set the price for new shipments. Gilead is allowing generic makers to supply the drug to poor or middle-income countries at much lower prices. 672
LOS ANGELES (AP) — California is suing a nonprofit that sends care packages to combat troops, accusing it of misleading donors about its affiliations, engaging in political activity and paying fees to its directors' for-profit companies.The lawsuit alleges the charity Move America Forward invaded the privacy of injured veterans by using their names and stories to solicit donations without their permission and falsely claimed to have a partnership with the Walter Reed National Military Medical Center."Our troops and their commitment to our country should never be exploited in deceitful solicitation gimmicks, but unfortunately they are," state Attorney General Xavier Becerra said Wednesday.The lawsuit alleges the charity violated IRS rules by providing free office space for the political action committees Move America Forward PAC and Tea Party Express.The charity also is accused of using charitable donations to endorse the political campaigns of former Republican U.S. Rep. Michael Grimm, who ran unsuccessfully for Congress in New York last year after pleading guilty to tax evasion, and Josh Mandel who briefly ran for the Republican nomination for a U.S. Senate seat in Ohio.Becerra said federal rules ban charities from backing political candidates.Move America Forward said the organization has always been completely transparent and provides proof of tax filings and independent audits on its website."Shame on Attorney General Becerra for his unrelenting harassment," Melanie Morgan, chairwoman and co-founder of Move America Forward, said in a statement. "We look forward to our day in court for all the facts to come to light and for our opportunity clear our name so that we can continue with our business of supporting our brave men and women of the military."Becerra said charity directors Salvatore Russo and Shawn Callahan also operated several separate for-profit entities that charged fees for marketing and other services provided to Move America Forward.For example, a Russo-owned entity called The Campaign Store LLC intercepted online donations and charged fees ranging from 7.55% to 10.06% to transfer the remaining funds to the charity's bank account without adding any value to the transaction, the lawsuit says, calling it a vehicle to "skim" off a percentage of donations.The attorney general said the lawsuit seeks to remove Russo and Callahan as directors and ban them from operating charities in California. Becerra said his office will pursue further penalties but that they wouldn't be criminal because it would be hard to prove intent.Senior Assistant Attorney General Tania Ibanez highlighted the number of military or veterans charities that are operating as unregistered or delinquent, meaning they failed to supply their annual reports to the state.An investigation from June 2018 to June 2019 revealed that over 1,000 charities in California have names relating to the military and 554 were found to be delinquent, Ibanez said. Only half have fixed the problem. The office sent cease-and-desist orders to 498 charities that have not registered with the state.Ibanez said veterans are the group most likely to be exploited, followed by firefighters and police officers.Read the full statement below: 3255

LOS ANGELES (CNS) - The Securities and Exchange Commission announced Friday that Calabasas-based Cheesecake Factory Inc. will pay a 5,000 penalty for making "false or misleading" disclosures about the impact of the COVID-19 pandemic on its business operations and financial condition.This is the first time the SEC has brought allegations against a public company for misleading investors about the financial effects of the pandemic.According to the SEC's order, the Cheesecake Factory restaurant group said in regulatory filings in March and April that its eateries were "operating sustainably," while failing to disclose that the company was losing roughly million in cash per week and had just 16 weeks of cash remaining.The order finds that although the company did not disclose the information in its filings, the group did share the particulars with potential private equity investors or lenders as it sought additional liquidity during the public health crisis.Without admitting the SEC's findings, the restaurant company agreed to pay the penalty and to cease-and-desist from further violations of the charged provisions. In determining to accept the settlement, the SEC said it considered the cooperation afforded by the company.A Cheesecake Factory representative pointed to a disclosure form filed Friday in which the company stated it was in full compliance with the cease- and-desist order and that the company "fully cooperated with the SEC in the settlement" without admitting or denying the regulators' allegations.The order also finds that although the March filing described actions the company had undertaken to preserve financial flexibility during the pandemic, it failed to disclose that Cheesecake Factory already had informed its landlords that it would not pay rent in April due to the impacts that COVID- 19 inflicted on its business."During the pandemic, many public companies have discharged their disclosure obligations in a commendable manner, working proactively to keep investors informed of the current and anticipated material impacts of COVID-19 on their operations and financial condition," SEC Chairman Jay Clayton said. "As our local and national response to the pandemic evolves, it is important that issuers continue their proactive, principles-based approach to disclosure, tailoring these disclosures to the firm and industry-specific effects of the pandemic on their business and operations. It is also important that issuers who make materially false or misleading statements regarding the pandemic's impact on their business and operations be held accountable."Cheesecake Factory had notified its landlords that it wouldn't pay rent on April 1 due to financial complications stemming from the coronavirus outbreak. A letter sent by Chief Executive David Overton to the restaurant group's landlords -- many of which are shopping mall operators -- was released publicly in March by Eater L.A.The company has 294 restaurants in North America, 39 in California and five in San Diego County.Its largest landlord is Indianapolis, Indiana-based real estate company Simon Property Group, which provides space for 41 Cheesecake Factory locations, according to the San Fernando Valley Business Journal."When public companies describe for investors the impact of COVID-19 on their business, they must speak accurately," said Stephanie Avakian, director of the SEC's Division of Enforcement. "The Enforcement Division, including the Coronavirus Steering Committee, will continue to scrutinize COVID- related disclosures to ensure that investors receive accurate, timely information, while also giving appropriate credit for prompt and substantial cooperation in investigations." 3725
LONDON (AP) — Queen Elizabeth II has made a knight of the 100-year-old World War II veteran who captivated the British public by walking 100 laps of his garden and raising some 33 million pounds ( million) for the National Health Service.The queen tapped the blade of a sword once owned by her father on the shoulders of Tom Moore on Friday to turn the hero of a nation into a knight of the realm.Moore steadied himself against his now-famous walker and wheeled himself close enough to stand in front of Elizabeth but skipped the normal practice of taking a knee before the monarch. 593
LONDON (AP) — Johnny Depp has lost his high-stakes libel case against the Sun tabloid newspaper for labeling him a “wife beater.”Depp sued News Group Newspapers, publisher of The Sun, and the newspaper’s executive editor, Dan Wootton, over an April 2018 article that accused him of assaulting his then-wife and fellow actor Amber Heard.Depp has denied the allegations, but Heard insisted in court that he had abused her.In his ruling, the British judge pointed to several episodes that he said showed the actor’s ex-wife had feared for her life.Justice Andrew Nicol said Monday that the defendants had proved that what they published was “substantially true” during a high-profile trial in London over the summer that included lurid — and irreconcilable — accounts from Depp and Heard.Depp’s lawyers said they would appeal the decision. 844
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