VC resigns in harassment scandal; Takata files for bankruptcy; 'Pharma Bro' goes on trial

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Takata filed for bankruptcy protection, listing US liabilities of more than $10 billion, and will sell most of its operations to a rival "to keep the company afloat as it replaces millions of air bags," reports the Wall Street Journal. Takata’s liabilities stem from a recall of millions of defective airbags — the biggest safety recall in auto history — that have been linked to more than a dozen deaths. #TakataBankruptcy

Binary Capital Co-Founding Partner Justin Caldbeck resigned amid accusations of sexual harassment from multiple women seeking funding from his firm. The accusations have led to public shunning from the larger venture capital community, as well as the resignation of the firm’s newest partner, Matt Mazeo…

… “I regret that I did not insist on Justin's immediate exit after his behavior was revealed...wrote Binary Capital Founding Partner Jonathan Teo in an email to the firm’s limited partners Sunday evening. "It is clear to me now that I was misled by a partner and friend,” #SVSexualHarassment

India PM Narendra Modi meets President Trump for the first time today to discuss issues such as immigration, the “hotly contested “H1B program,” trade and manufacturing, and climate change. It's a chance for the leaders, who disagree on a number of hot button issues, to "build personal rapport but is less certain to produce significant progress on issues such as immigration," Bloomberg writes. #TrumpModiMeet

Pandora co-founder Tim Westergren is planning to step down as CEO, according to sources who spoke to Recode. Westergren, who took over as CEO last year, will “likely” stay on until a replacement is found; Pandora declined to comment. Earlier this month SiriusXM said it would invest $480 million for a 19% stake and three seats on Pandora’s board of directors. #PandoraCEO

Martin Shkreli is set to stand trial in a New York federal court today on securities and wire fraud charges. The former CEO of Turing Pharmaceuticals, perhaps best known for raising the price of the drug Daraprim to $750 a tablet from $13.50, has been accused of running a Ponzi scheme and could face up to 20 years in prison if convicted. Shkreli has taken on a social media persona that has inspired the labels "Pharma Bro" and the "most hated" person on the Internet. The trial is expected to last six weeks. #PharmaBroTrial

What's your take? Join the conversations on today's stories: #TakataBankruptcy | #SVSexualHarassment | #TrumpModiMeet | #PandoraCEO | #PharmaBroTrial

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