A MassMutual investment subsidiary has agreed to pay $4.75 million to resolve allegations by Massachusetts securities regulators including that it failed to supervise its agents, among them the social media persona "Roaring Kitty," whose online posts helped spark January's trading frenzy in GameStop Corp shares.
U.S. states are racing to meet a deadline to commit to a $26 billion opioid settlement with three drug distributors and the drugmaker Johnson & Johnson , as some grapple with local resistance and concerns the amount isn't big enough to address the damage done by an epidemic of addiction.
Dire warnings about climate change are a call to action for investors who put their money into helping the environment. But the news also heightens a debate about how to make these strategies effective, financial executives said.
Svea Herbst-bayliss
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Jorge Paulo Lemann, Co-Founder and Board Member, 3G Capital; Board Member, Kraft Heinz, speaks at the Milken Institute s 21st Global Conference in Beverly Hills, California, U.S. April 30, 2018. REUTERS/Lucy Nicholson/File Photo
BOSTON, July 27 (Reuters) - Three Brazilian billionaires who cofounded investment firm 3G Capital are backing a veteran U.S. investor who played a key role in hedge fund Third Point s activist campaigns, to make big, long-term bets on companies, three people familiar with the plans said.
LTS One will be a new investment partnership between LTS Investments and Munib Islam, who was previously co-chief investment officer at Third Point. LTS Investments is the holding company and investment office that oversees the family fortunes of 3G Capital cofounders Jorge Paulo Lemann, Marcel Telles and Carlos Alberto Sicupira.