A House Judiciary Committee is calling on the DOJ to “investigate Amazon and some of its executives for criminal obstruction of a congressional investigation that included the e-commerce giant.” At issue is the ‘Zon’s alleged failure to produce information in response to an ongoing antitrust investigation and its “lying about how it treated third-party sellers on its platform” - NYTimes and WSJ and Bloomberg
Elsewhere at the Bezos factory, Amazon’s board approved a “20-for-1 stock split and authorized the e-commerce giant to repurchase up to $10 billion of the company’s common stock.” The moves are subject to shareholder approval, with a vote scheduled for May 25 - WSJ and Bloomberg and MarketWatch
More Starbucks workers in the Buffalo area—home of the first successful effort to unionize at a company-owned location—have voted to join Workers United, an affiliate of the SEIU - NYTimes
Following a wave of social media criticism this week for its muted response to Florida’s recently passed anti-LGBTQ legislation, Disney—via CEO Bob Chapek—publicly announced its opposition to the measure on Wednesday during the company’s virtual annual shareholder meeting - NYTimes and WSJ and Bloomberg
Stocks managed to find their way back into the black on Wednesday, with all three major U.S. indices up at least 2%. A drop in oil prices didn’t hurt the cause - WSJ and Bloomberg
The Theranos saga continues, even after Elizabeth Holmes’ recent conviction for criminal fraud. Not only is a movie about her life a fresh add to Hulu, but jury selection is under way at the fraud trial of Sunny Balwani, Holmes’ former deputy - NYTimes and WSJ
Not far removed from the demise of an ill-fated “Instagram for kids” project, Meta’s vice president for youth initiatives, Pavni Diwanji, is leaving the company. Diwanji had only been in Zuckworld since late 2020, joining the company after running YouTube Kids at Google - NYTimes
Sitting firmly at the intersection of cybersecurity and the financial world, the SEC has proposed a new rule that would require “publicly traded companies [to] disclose data breaches and other significant cybersecurity incidents within four days.” The measure is intended to “strengthen financial markets’ resilience to online attacks” by getting investors necessary information about cyber risks on a certain timeline. The comment period on the proposal will be open for at least 60 days - WSJ and Law360
On the unplanned and consequential 2-year workplace experiment that’s been the pandemic for the 50 million American workers who left their offices for remote work—the tradeoff between “workplace culture” and the understood-but-rarely-acknowledged truth that the office “was never one size fits all” - NYTimes
U.S. Bankruptcy Judge Robert Drain has given his stamp of approval to the recently sweetened settlement agreement “among members of the Sackler family that own Purdue Pharma LP and a handful of states that had been fighting its multibillion-dollar opioid deal” - Bloomberg and WSJ
Tourney time again, folks. Do yourself a favor and grab a glimpse of the best prep sports event in the country - StarTribune
Stay safe,
MDR
The Robins Kaplan Financial Daily Dose features top stories and latest news headlines in financial markets, banking, securities and technology topics.
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