McKinsey & Company CEO's Attendance at China Development Forum

McKinsey & Company CEO Bob Sternfels attended the China Development Forum in Beijing, which was backed by the Chinese Communist Party and featured high-ranking CCP officials. Sternfels spoke on demographic change and AI. Lawmakers have criticized McKinsey's ties to the Chinese government, questioning their transparency and work ethics.

McKinsey and Company's involvement in boosting OxyContin sales for Purdue Pharma

McKinsey and Company agreed to pay $650 million to settle federal probes into its role in boosting OxyContin sales for Purdue Pharma. The settlement includes a deferred prosecution agreement and a guilty plea from a former senior partner for obstruction of justice. The company also apologized for its actions and agreed to refrain from work involving controlled substances in the future.

Senator Josh Hawley's Concerns with McKinsey & Company's Contracts with China

Senator Josh Hawley urges McKinsey & Company to provide documentation of contracts with the Chinese government after accusations of collaborating with the regime. The Time to Choose Act aims to address conflicts of interest in federal contracting and prohibits consulting firms from working with both the U.S. government and Chinese entities. McKinsey settled lawsuits related to the opioid epidemic for $78 million.