C&E Industry News Filter

Better.com misled investors before SPAC deal stalled, ex-executive says

A former Better.com senior executive has alleged in a lawsuit that the online mortgage lender misled investors in financial documents and other statements it made as it tried to go public. Sarah Pierce, former executive vice president of sales and operations at Better.com, alleged in the lawsuit that chief executive Vishal Garg and company misrepresented …

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The United States creates 390,000 jobs in May and shows that the economy is still at cruising speed

Numbers: The United States added 390,000 stronger-than-expected new jobs in May, signaling that the job market and the economy in general are still strong despite some fraying around the edges. Economists polled by The Wall Street Journal had forecast a smaller increase of 328,000 new jobs after reports leading to the government jobs survey hinted …

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Melvin Capital will close its funds and return money to investors

Melvin Capital plans to close its funds and return the money to its investors, capping a stunning reversal for a company who lost big on soaring meme stocks last year and betting on growth stocks this year. In a letter to investors that was reviewed by The Wall Street Journal, Gabe Plotkin, Melvin’s founder, wrote …

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