Rihem Akkouche

A western Massachusetts addiction treatment group, SaVida Health PC, has agreed to pay $2 million to settle allegations of overbilling and fraudulent medical practices, according to a statement from the state’s attorney general. This settlement comes after SaVida allegedly mischarged the Medicaid program for unnecessary tests and over-represented the level of services provided during office SaVida Addiction treatment group in Massachusetts settles Medicaid overbilling case.

The U.K.’s Competition and Markets Authority (CMA) warned Friday that the $35 billion acquisition of Ansys Inc. by Synopsys Inc. could stifle competition in the semiconductor and light-simulation software markets. The CMA expressed concerns that the deal may lead to higher costs for consumers, potentially impacting prices of laptops, smartphones, and televisions.

The Consumer Financial Protection Bureau (CFPB) filed a lawsuit Friday against Bank of America, JPMorgan Chase, and Wells Fargo, alleging the banks allowed systemic fraud to flourish on the Zelle payment platform. The suit claims customers lost over $870 million while the banks failed to provide proper assistance, reimbursements, or adequate investigations into complaints.

The European Commission announced Friday its approval of Nvidia Corp.’s $700 million acquisition of Israeli startup Run:ai Labs Ltd.,

Kirkland & Ellis LLP has advised Nordic Capital in successfully closing its second Evolution Fund, Nordic Capital Evolution II, after raising €2 billion ($2.1 billion) from investors in a mere four months, the firm announced Friday.

CCC Intelligent Solutions Inc., a Chicago-based insurance industry platform, announced Friday its agreement to acquire New York-based EvolutionIQ Inc., an AI-powered claims management platform, in a $730 million transaction. The deal, facilitated by Kirkland & Ellis LLP and Lowenstein Sandler LLP, is expected to close in the first quarter of 2025.

Scottish travel search engine Skyscanner has initiated legal action against French competitor Fly Scanner, alleging that the latter has been using similar trademarks to mislead consumers and divert traffic to its own platform. The lawsuit, filed in the High Court, accuses Fly Scanner of “riding on the coattails of the Skyscanner marks” to deceive users into booking flights through its services since at least August 2018.

The U.S. Department of Housing and Urban Development (HUD) has allocated $225 million under its Preservation and Reinvestment Initiative for Community Enhancement (PRICE) program to improve conditions in manufactured housing communities. The grants, awarded to 17 applicants, prioritize tribal communities and resident-managed housing developments.

WOM SA, a Chilean mobile phone operator, has received approval from a Delaware bankruptcy court for its $500 million restructuring plan, marking a significant step in its efforts to address $650 million in debt. U.S. Bankruptcy Judge Karen B. Owens found that the debtor demonstrated sound business judgment in selecting the framework, which includes a significant equity transfer and a rights offering.

A New Jersey federal judge recently sided with Honeywell International, rejecting a proposed class action that accused the aerospace giant of violating federal benefits laws by using forfeited 401(k) funds to offset its retirement plan contributions instead of covering administrative costs. The ruling came after a close examination of the company’s actions and their alignment with the terms of the retirement plan.