The Securities and Exchange Commission has filed a complaint against MJ Capital Funding, LLC, MJ Taxes and More Inc. and Johanna M. Garcia, the owner of MJ Capital Funding and MJ Taxes, for allegedly running a Ponzi scheme. On August 13, 2021, the SEC announced that it filed an emergency action and obtained a temporary restraining order, an asset freeze, and the appointment of a receiver to stop the misappropriation of funds allegedly carried out by Garcia and the entities she controls.

The U.S. Food and Drug Administration (FDA) issued notice that Philips Respironics recalled its V60 Plus Ventilators Equipped with High Flow Therapy (software version 3.00 and 3.10) and all V60 ventilators that have been upgraded to enable High Flow Therapy with this software.  The manufacturer distributed the affected devices between May 1, 2009, and June 2, 2021.

Parking REIT investors may have suffered losses of over 75% of their investment principal, based on recent tender offers of less than $6.00 per share made by MacKenzie Capital Management.  Furthermore, data from limited secondary trading data sources shows a sale in June 2020 for amounts as low as $5.01 per share. The Parking REIT’s board estimated the share value at $11.75 as recently as June 2021, but even if that share value estimated was correct investors who paid $25.00 per share may have lost over 50% of their investment principal.

Investors who purchased shares of Didi Global, the Chinese ride-sharing company, may have the right to file their own claim to recover their losses. While there are currently uncertified class actions that have been filed, securities class actions frequently result in notoriously small settlements as a percentage of the damages suffered by class members.

Phillips Respironics has issued a voluntary recall of around 4 million CPAP and BiLevel PAP devices. According to the manufacturer’s notification, the company’s quality management system revealed these products pose serious health risks and potentially life-threatening injuries for users.

The first-generation DreamStation product family comprises the Philips medical devices most affected by the recall.

MSC Income Fund, formerly known as HMS Income Fund, is a principal investment fund that works to provide debt and equity financing solutions primarily to private U.S. companies. According to Hines Securities’ website, a new advisory agreement approved by HMS Income fund’s shareholders, the subsidiary of Main Street Capital Corporation that had been serving as the Fund’s sub-advisor is now the sole investment advisor and administrator of the Fund. Because of this transaction, HMS Income Fund is now known as MSC Income Fund, Inc.

In a deal the Washington Post called “the largest civil action in U.S. history,” the terms for the formal global settlement agreement with opioid manufacturer Johnson & Johnson (J&J) and the “Big Three” drug distributors AmerisourceBergen, Cardinal Health, and McKesson were just announced.

Financial Industry Regulatory Authority (FINRA) has published a BrokerCheck report on previously registered broker and investment adviser Jeffrey Raymond Dixson, showing multiple customer disputes and one regulatory dispute.

As of this writing, Dixson has been the subject of 20 customer disputes, nine of which are still pending. He also faced a regulatory dispute in 2007.

FINRA registered broker Masood Husain Azad (also known as Mike H. Azad) has been barred by the regulatory authority following allegations from clients dating back to 2017. First Allied Securities Inc. terminated Mr. Azad’s employment in May of 2017 following allegations of violating a Firm policy regarding borrowing money from clients. Azad was also allegedly engaging in outside business activity and unapproved private securities transactions.