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Corporate Responsibility

AAPL

SPOT

Apple Inc (AAPL) has reached a settlement in a lawsuit over a scam involving its iTunes and App Store gift cards, where scammers convinced victims to pay for various obligations with gift cards. Apple allegedly kept a 30% commission from the stolen funds. The settlement covers U.S. residents who purchased gift cards from 2015 to July 31, 2020, and were scammed without receiving refunds. This follows other legal issues for Apple, including a $500 million 'Batterygate' settlement and a $25 million Family Sharing lawsuit settlement. Spotify Technology (SPOT) was also mentioned in relation to an antitrust fine faced by Apple.

Portfolio Pulse from Benzinga Neuro

January 04, 2024 | 4:16 am

DIS

META

TSLA

Elon Musk, the world's richest person, has been involved in several public disputes with other high-profile figures in 2023, including Meta's Mark Zuckerberg, Microsoft's Bill Gates, Disney's Bob Iger, and politicians. Despite Musk's confrontational stance, these figures have generally not responded in kind. JPMorgan's Jamie Dimon and Amazon's Jeff Bezos have even praised Musk's leadership. The lack of pushback may be due to an intimidation factor, with Musk's significant platform and wealth allowing him to be outspoken without much repercussion. This dynamic is particularly relevant for CEOs of public companies like Iger, who must maintain a certain decorum.

Portfolio Pulse from Chris Katje

January 03, 2024 | 11:59 pm

BFRI

Biofrontera entered into a confidential settlement agreement and mutual release with Maruho, effective December 22, 2023, resolving an arbitration proceeding initiated by Biofrontera in the International Chamber. The details of the settlement were not disclosed.

Portfolio Pulse from Charles Gross

January 03, 2024 | 10:36 pm

SKYH

Sky Harbour Group Corporation (SKYH) announced that Will Whitesell has joined as COO, replacing Alex Saltzman who has amicably separated from the company. Loren Benedict has joined subsidiary RapidBuilt as chief of operations. Additionally, SKYH updated its construction budget for Dallas Addison Airport Phase 1, increasing the estimate from $25-27 million to $30-32 million.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 10:12 pm

CVS

CVS Caremark has announced that starting April 1, 2024, Humira will be excluded from major national commercial template formularies, and instead, biosimilars to Humira will be covered. This move is part of CVS Caremark's ongoing efforts to promote the adoption of biosimilars.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 10:03 pm

FEBO

Fenbo Holdings has announced the appointment of Meng Derong as Co-Chairman and Independent Non-Executive Director, effective January 1, 2024. This strategic move could signal a strengthening of the company's governance and oversight.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 9:32 pm

RM

Regional Management Corp. announced that Executive Vice President and COO John Schachtel is leaving the company. Responsibilities will be absorbed by President and CEO Rob Beck and other executive team members.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 9:31 pm

DOV

Dover Fueling Solutions (DFS), a part of Dover Corporation (NYSE:DOV), has announced a collaboration with Click & Find to deliver a fuel transportation volume monitoring and tracking solution in the EMEA region. This solution integrates ProGauge magnetostrictive probe technology to enable fuel retailers and transportation companies to control operations, mitigate risks, and streamline processes. It provides security from loading to delivery, integrates with various software systems, and complies with industry standards.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 9:18 pm

SEM

Select Medical Holdings Corporation (NYSE:SEM) announced plans to separate its Concentra business into an independent, publicly traded company. The separation, expected to be tax-free for Select Medical and its stockholders, is planned for late 2024. Stockholders will retain shares of Select Medical and receive a pro rata distribution of Concentra stock. The separation is subject to conditions including market conditions, financing transactions, IRS ruling, and board approval. J.P. Morgan is the financial advisor and Dechert LLP is the legal counsel for the transaction.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 9:18 pm

AIM

The Delaware Court of Chancery ruled in favor of Mr. Kellner, finding four advance notice bylaw provisions adopted by AIM ImmunoTech's Board in March 2023 invalid. These provisions were deemed to entrench incumbents and thwart proxy contests, potentially affecting future board elections and governance.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 9:17 pm