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A former Biogen employee turned whistleblower, Michael Bawduniak, alleged Biogen paid kickbacks to doctors to encourage them to prescribe its multiple sclerosis drugs.
Bawduniak will receive about $250 million of the federal proceeds, according to the Justice Department.
Biogen, in a statement Monday, denied any wrongdoing in the case.

A Biogen facility in Cambridge, Massachusetts.
Brian Snyder | Reuters

Biogen will pay $900 million to settle a lawsuit that alleged the company gave doctors kickbacks to encourage them prescribe its drugs, the Justice Department announced on Monday.
A former Biogen employee turned whistleblower, Michael Bawduniak, sued the pharmaceutical company in 2012 on behalf of the federal government under the False Claims Act.

Bawduniak alleged Biogen paid kickbacks to doctors in the form of speaking fees, consulting fees and meals from 2009 through 2014 to encourage them to prescribe its multiple sclerosis drugs.
The alleged kickbacks resulted in false claims to Medicare and Medicaid for the prescription of Avonex, Tysabri and Tecfidera, according to the Justice Department.
Biogen will pay more than $843 million to the federal government and $56 million to 15 states to settle the case. Bawduniak will receive about $250 million of the federal proceeds, according to the Justice Department.
“The settlement announced today underscores the critical role that whistleblowers play in complementing the United States’ use of the False Claims Act to combat fraud affecting federal health care programs,” said Brian Boynton, head of the Justice Department’s Civil Division.
Biogen, in a statement Monday, denied any wrongdoing in the case. The company said it wanted to resolve the litigation to focus on other priorities.

“Biogen believes its intent and conduct was at all times lawful and appropriate and Biogen denies all allegations raised in this case,” the company said. “The U.S. and the states did not intervene in the case and the settlement does not include any admission of liability by Biogen.”
Biogen disclosed in its second quarter report that it had reached an agreement in principle to pay $900 million to resolve the lawsuit.

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Netflix will be opening an internal game studio in Finland, the company announced Monday.
Netflix Games, which started in November 2021, has purchased three studios.
As of August, fewer than 1% of Netflix subscribers were engaging with its games.

Netflix gift cards are seen in a shop in Krakow, Poland on June 13, 2022.
Jakub Porzycki | Nurphoto | Getty Images

Netflix said Monday it will be opening an internal game studio in Finland.
The development marks the company’s first of its kind since the streaming giant entered the mobile gaming space in November 2021. It bought Finland-based Next Games for about $72 million and has purchased three external game studios over the past year.

Netflix has a cache of over 20 mobile games available for download to subscribers, and the company plans to have 50 by year-end. The catalog includes “Stranger Things: 1984” and “Queen’s Gambit Chess,” which are based on Netflix series.
The streamer’s foray into gaming is in its early stages, but, as of August, there weren’t many Netflix subscribers playing. Fewer than 1% of Netflix’s 220 million subscribers were engaging with the games daily, according to Apptopia.
Netflix didn’t immediately respond to a question about its game engagement.
The streamer, which has lost overall subscribers during recent quarters, touted the internal game studio as a place for Netflix to develop games alongside its existing subsidiary studios, which include Night School Studio and Boss Fight Entertainment.
“It’s still early days, and we have much more work to do to deliver a great games experience on Netflix,” Amir Rahimi, the company vice president of game studios, said in a statement. “Creating a game can take years, so I’m proud to see how we’re steadily building the foundation of our games studios in our first year.”
The company said that its games will have no ads and no in-app purchases. Currently users can see the games offered within the Netflix app, but the games themselves download as individual apps.

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DWAC, the blank-check company set to take Trump Media and Technology Group public, changed its address to a Miami UPS Store in a filing Friday.
As of Friday, DWAC had lost $138.5 million of its $1 billion in private financing.

The social media app will be developed by Trump Media and Technology Group (TMTG).
Rafael Henrique | LightRocket | Getty Images

Digital World Acquisition Corp., the blank-check company looking to take Trump Media and Technology Group public, has changed its listed address to a UPS Store in Miami.
The change from a Miami office building to a UPS address came with DWAC’s regulatory filing on Friday disclosing that some investors pulled out tens of millions of dollars.

The company said it had lost $138.5 million of the $1 billion in financing from private investors in public equity, also known as PIPE, to fund Trump Media after the merger. The contractual obligation for those investors to contribute to former President Donald Trump’s media company after the deal had expired last Tuesday, allowing them to pull their funding.
One of the former private investors told CNBC that it pulled financing from DWAC because of the many legal obstacles facing the company. The investor, who declined to be named due to the sensitive nature of the matter, was also underwhelmed by the popularity of Trump Media’s Truth Social app as measured by Donald Trump’s follower counts.
Trump had more than 80 million followers on Twitter. On Truth Social, which he founded after he was banned from Twitter following the Jan. 6, 2021, Capitol insurrection, he has 4.1 million. The app is also currently barred from the Google Play store.
Representatives from DWAC did not immediately respond to a request for comment.
After DWAC failed to garner enough shareholder support to extend its deal deadline earlier this month, CEO Patrick Orlando contributed $2.8 million from his company Arc Global Investments II to push back the deadline to December.

The merger delay comes as Trump Media and DWAC are the subject of a Securities and Exchange Commission probe into whether alleged discussions between the two companies prior to the merger violated securities laws.
Trump himself is also the subject of multiple investigations, including civil allegations of fraud from New York’s attorney general, as well as criminal investigations relating to the removal of sensitive documents from the White House, his involvement in the Jan. 6 Capitol insurrection and attempts to influence the outcome of the 2020 presidential election.
DWAC’s address change was first reported by the Financial Times.
Shares of DWAC were trading around $17 after hours Monday, down significantly from their $97 peak in March of this year.

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The announcement of a second Prime Day from Amazon (AMZN) sent shares of the e-commerce giant higher Monday. As shareholders for the Club, we’re encouraged by the prospect of Prime’s 150 million global members increasing their online retail spending ahead of the holiday season. The two-day global shopping event, dubbed the Prime Early Access Sale, is exclusively for Prime members and set to take place Oct. 11-12 in 15 countries . It’s a chance for members to get a jumpstart on their holiday shopping with access to thousands of deals for electronics, fashion, homewares and Amazon products, among others. Prime members worldwide bought over 300 million items during Amazon’s last Prime Day, in July. During a time when persistent inflation is weighing on consumers and retailers, advertising budgets are shrinking, and supply chain disruptions persist, Amazon’s sales have proved largely resilient in the face of economic volatility. Analysts at JMP Securities said Amazon’s second Prime Day could help “elongate the holiday spending period.” Consumer buying activity could help “pull forward” sales from the fourth quarter to the current quarter, easing supply chain and shipping disruptions, the analysts argued in a note Monday. Last week, we wrote about how UBS chose Amazon as its top e-commerce pick based on strong sales growth projections. Still, Amazon’s operating income suffered this year due to inflationary pressures, higher fuel costs, excess warehouse space, and a hiring binge. Operating cash flow for Amazon’s fiscal second-quarter fell 40%, to $35.6 billion year-on-year. But over the last quarter, the company has prioritized managing costs in order to protect its profit margins. As a safety measure, Amazon in April added a fuel and inflation surcharge fee of 5% to the existing fees it charges to third-party sellers in the U.S. Last month, the company announced plans to raise fulfillment fees for merchants who sell their products on the site. Amazon is also likely to benefit from a slight easing in inflation and lower fuel prices. In this context, we are buying back some stock previously sold higher. On Monday, the Club purchased 75 shares of Amazon after the S & P 500 Oscillator , our trusted technical indicator, moved further into oversold territory after Friday’s selloff. In early March, we pared back some of our shares after Amazon announced a 20-for-1 stock split and $10 billion buyback . That move was followed by another sale in April after the Federal Reserve took more hawkish steps to fight inflation, with expected negative knock-on effects for Big Tech. In the Club’s portfolio we now hold 750 shares of AMZN. The stock, down about 30% year-to-date, closed up 1.2% at $115.15 a share on Monday. Bottom line We are taking a long-term view on Amazon, Jeff Marks, the Club’s director of portfolio analysis, said Monday during our daily meeting . The long-term investments the e-commerce giant has made in warehouse expansion, along with its move to add surcharges and raise fulfillment fees, could translate into profitability in the next quarter and next year, he added. Marks said the upcoming Prime Day is welcome news because it will “help Amazon get a jump on the holiday season rush, and potentially alleviate some supply chain constraints that tend to happen towards the end of the shopping season.” (Jim Cramer’s Charitable Trust is long AMZN. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.

Amazon signage is displayed outside of an Amazon.com Inc. delivery hub in the late evening of Amazon Prime Day, July 12, 2022 in Culver City, California.
Patrick T. Fallon | AFP | Getty Images

The announcement of a second Prime Day from Amazon (AMZN) sent shares of the e-commerce giant higher Monday. As shareholders for the Club, we’re encouraged by the prospect of Prime’s 150 million global members increasing their online retail spending ahead of the holiday season. More

Southwest said it has another 7,000 flight attendant candidates in its hiring pipeline.
The airline and others are in a fierce battle for airline employees to cater to a rebound in travel.
The hires come as the flight attendants’ union and management hit roadblocks in talks for a new contract.

Passengers deplane from a Southwest Airlines flight from Las Vegas at Hollywood Burbank Airport in Burbank, California, Oct. 10, 2021. Southwest Airlines canceled more than 1,000 flights Sunday, as part of a major weekend service disruption that the carrier attributed to bad weather, air traffic control and its own shortage of available staff.
Robyn Beck | AFP | Getty Images

Southwest Airlines has hired and trained 3,000 flight attendants so far this year, nearly triple its record cabin crew member hiring in all of 2018, the carrier told staff last week.
Southwest and other airlines are still racing to hire and train staff to cater to a rebound in travel demand, which executives expect to hold up this fall, led by strong leisure bookings.

Airlines were prohibited from laying off staff during the Covid pandemic under the terms of a $54 billion federal bailout but were allowed to offer employees extended leaves of absence or early retirement.
Southwest said it currently has more than 62,000 full-time equivalent employees. That’s more than the 60,800 it had at the end of 2019, before the pandemic. 
Southwest has also hosted three “Hiring Blitzes” at its corporate campus in Dallas, where flight attendant candidates are interviewed, perform physical performance standards tests and other screenings with a potential for on-the-spot contingent job offers. Another is scheduled for this week, Southwest said in an employee memo last week.
The carrier told staff that it has 7,000 flight attendant candidates in its hiring pipeline and that its attrition rate among new cabin crew members has dropped to 2.5% compared with 6.1% in 2019.
The hiring spree comes as Southwest flight attendants’ union and management have been locked in contract negotiations. Talks with a federal mediator are set to begin Nov. 1 in Dallas, according to the memo.

Southwest and United Airlines flight attendants, which are represented by the Association of Flight Attendants-CWA, are set to picket at major airports on Tuesday to demand better working conditions.
Separately on Monday, Southwest announced it was promoting its chief commercial officer, Andrew Watterson, to replace COO Mike Van de Ven, who will become an “executive advisor” for the airline in 2023.

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Department X will sell rare collectibles across music, fashion, art and sports history, but sneakers and streetwear will be among its biggest categories.
The move is the latest sign that a wave of younger collectors are redefining the collectibles world.
Sotheby’s this month sold Michael Jordan’s “Last Dance” jersey for $10.1 million, setting a new record for sports memorabilia.

Nike Unreleased Air Jordan VI Donda West Sneaker
CHRISTIE’S IMAGES LTD. 2022

Christie’s is launching a new department to capitalize on the booming market for collectible sneakers, streetwear and sports history.
The auction house on Monday announced its Department X, giving Air Jordans and Supreme skate decks their own category, alongside Impressionist & Modern Art and Old Masters. The move is the latest sign that a wave of younger collectors are redefining the collectibles world.

“When looking at the auction world and the way collectors are evolving and the new collectors coming into the marketplace, we felt this is a strong a robust marketplace,” said Caitlin Donovan, Christie’s head of Handbags, Streetwear and Sneakers, who will head Department X. “It’s only going to get stronger and that’s why we felt it was time to dive headfirst into this new market.”
Department X will sell rare collectibles across music, fashion, art and sports history, but sneakers and streetwear will be among its biggest categories. It will hold online auctions, with live previews in New York, and private selling exhibitions throughout the year.
Sneakers and sports collectibles have exploded in popularity and value in recent years. In June, Christie’s held a “Six Rings − Legacy of the GOAT” sale dedicated to basketball legend Michael Jordan’s career, with sales nearing $1.5 million. And Sotheby’s this month sold Jordan’s “Last Dance” jersey − from his 1998 NBA Finals Game 1 − for $10.1 million, setting a new record for sports memorabilia.
A collection of 200 pairs of Louis Vuitton and Nike Air Force 1 sneakers designed by the late designer Virgil Abloh sold at Sotheby’s earlier this year for $25 million. That was more than eight times the estimate, with one pair selling for $350,000.
Sotheby’s launched its streetwear category in December, with most of the buyers between 20 and 40 years old and 80% of bidders new to the auction house.

Kanye West Grammy Worn, Nike Air Yeezy 1 Sneaker Prototype
CHRISTIE’S IMAGES LTD. 2022

As part of its Department X launch, Christie’s will hold a private-sale exhibit titled “Ye Walks,” celebrating two pairs of Kanye West’s sneaker designs. The Nike Air Yeezy 1 prototype was the first West designed with Nike. The Nike Donda West Air Jordan VI was created in memory of West’s mother.
Hats, shirts, skate decks and even pinball machines from Supreme have also continued to soar in price. In 2020, Christie’s offered a collection of 253 Supreme t-shirts for $2 million.
Donovan said younger collectors gravitate to the images and culture they grew up with. Street wear, rare sneakers and memorabilia tied to sports icons are likely to grow in value as younger collectors gain wealth.
“We go for what tugs at our own past experiences and heart strings,” she said. “So for these collectors in their 30s and 40s, it’s a celebration of their culture.”
Some collectors say six-figure sneakers and t-shirts are a product of a speculative bubble, but Donovan said the rise of so-called “hype-wear” is likely to endure despite falling stocks and recession fears.

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Peloton’s head of marketing, Dara Treseder, is leaving the company.
The announcement comes just weeks after a broader executive shake-up.
Treseder will become the chief marketing officer at Autodesk.

A Peloton exercise bike is seen after the ringing of the opening bell for the company’s IPO at the Nasdaq Market site in New York City, New York, U.S., September 26, 2019.
Shannon Stapleton | Reuters

Peloton’s head of marketing is leaving the company, just weeks after a broader executive shake-up at the exercise equipment maker.
Dara Treseder, whose last day will be Oct. 4, is leaving for a position at Autodesk. At Peloton, she oversaw marketing and membership, reporting to CEO Barry McCarthy after the departure of Kevin Cornils, the company’s chief commercial officer. The announcement comes after co-founder and former CEO John Foley left his board chair position earlier this month.

Since taking over as chief executive in February, McCarthy has been working to revive the company’s struggling business and increase cash flow by growing subscription revenue. After thriving during the early days of the coronavirus pandemic as gyms shut down, Peloton’s losses have been mounting as it works to expand its customer base and win back the confidence of investors.
As senior vice president of marketing, communications and membership, Treseder oversaw Peloton’s introduction of a $3,195 rowing machine last week and a nationwide bike rental program earlier in September. She also supervised Peloton’s expansion to Australia and its partnerships with Beyonce and Usain Bolt.
“During her time at the company, Peloton has become one of the most beloved and culturally relevant brands and our Member base has grown from over 2.6 million to over 6.9 million,” Peloton said in a statement Monday.
Treseder, who previously led marketing teams at Apple and Goldman Sachs, will be taking on the role of chief marketing officer at Autodesk. Peloton said it will look to fill the newly created role of chief marketing officer.
Correction: Dara Treseder is senior vice president of marketing, communications and membership at Peloton. An earlier version misstated her title.

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The NFL’s annual Pro Bowl will be replaced this year with “The Pro Bowl Games,” a weeklong schedule of skill competitions and a flag football game. 
The league has been pushing to have flag football included in the Olympics, as it looks to expand internationally. 
In past years the Pro Bowl has often been hit with the criticism that players don’t play to their best ability, in order to avoid injuries.

Signage for the NFL Pro Bowl is seen at Allegiant Stadium on Sunday, Feb. 6, 2022, in Las Vegas. (Chase Stevens/Las Vegas Review-Journal/Tribune News Service via Getty Images)
Chase Stevens | Las Vegas Review-journal | Getty Images

The NFL said it is eliminating the Pro Bowl in favor of a week’s worth of skill competitions and a flag football game. 
In what’s now called “The Pro Bowl Games,” players from both conferences will showcase their football and non-football talents in a weeklong series of competitive events, replacing the full-contact Pro Bowl game that started in 1951.

The multiday event will be held in Las Vegas in February, and will culminate with a flag football game to take place at Allegiant Stadium, where the Las Vegas Raiders play. 
In past years the Pro Bowl has often been hit with the criticism that players don’t play to their best ability, in order to avoid injuries. Last year, the NFL expanded its regular season by one game. The NFL is also trying to amplify flag football, a growing part of the organization’s future. 
The Associated Press first reported the news on Monday. 
Earlier this year, the league said it was aiming to grow its international business to $1 billion annually. As part of that, the NFL has been pushing for flag football to be included in the summer Olympics, with the aim of beginning in 2028. 
This past summer the NFL partnered with the International Federation of American Football on bringing flag football to “The World Games,” an international event that showcases games that weren’t included in the Olympics, in Birmingham, Alabama.

The league said in Monday’s release that flag football is “a growing focus for the organization” and “a critical piece of the NFL’s participation and development strategy, due to its highly accessible and inclusive qualities.” Flag football will be integrated in other parts of the multiday events. 
The league said the weeklong schedule and other details will be released later in the football season.
Disney’s broadcast network, ABC, and its cable channel ESPN will air the flag football game scheduled for Feb. 5, and the NFL said it’s working with other partners to program the days of competitions. 
Peyton Manning’s Omaha Productions will also have skin in the game as it’ll help to shape the programming throughout the week, the NFL said in a release. Manning will also take part in the coaching staff for the flag football game. 
Manning and his brother Eli, both retired NFL quarterbacks, have enjoyed success as the co-hosts of an alternate “Monday Night Football” telecast for ESPN2.
The Pro Bowl news follows the revelation that Rihanna will headline the Super Bowl halftime show, which is now sponsored by Apple, on Feb. 12.
– CNBC’s Jessica Golden contributed to this report.

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