Streetbeat News

Legal

CRAK

IEO

PSX

Phillips 66 (NYSE:PSX) faces a $604.9 million jury verdict for misappropriating trade secrets from Propel Fuels. The company plans to cease operations at its Los Angeles refinery by Q4 2025, affecting 900 workers. PSX stock has gained 16% over the past year.

Portfolio Pulse from Nabaparna Bhattacharya

October 17, 2024 | 12:21 pm

PSX

Phillips 66 has been ordered to pay $604.9 million in compensatory damages to Propel Fuels following a lawsuit in the California Superior Court.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2024 | 11:11 am

FOLD

TEVA

Amicus Therapeutics has entered a license agreement with Teva, resolving their patent litigation over GALAFOLD. Teva can market a generic version in the US starting January 30, 2037, pending FDA approval. The litigation against Aurobindo continues, while Lupin's case is stayed.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2024 | 11:03 am

GOOG

GOOGL

Google has appealed to the 9th Circuit Court to halt a ruling in the Epic v. Google case, which mandates allowing third-party app stores on Google Play. Google argues this poses security risks and impacts its business relationships. The appeal is part of ongoing scrutiny of Google's market power.

Portfolio Pulse from Benzinga Neuro

October 17, 2024 | 9:19 am

GOOG

GOOGL

Ross Gerber, a Tesla investor, warns that Alphabet Inc.'s Google faces an existential threat from AI search tools like ChatGPT and Perplexity AI. This comes amid Google's antitrust battle with the DOJ, which could lead to structural changes in its business.

Portfolio Pulse from Ananya Gairola

October 17, 2024 | 8:38 am

RTX

RTX has entered into a Deferred Prosecution Agreement with the Department of Justice and a False Claims Act Settlement Agreement to resolve government investigations into defective pricing claims. The agreements involve significant financial penalties, including a $282 million payment to the DOJ and a $102 million payment to the SEC.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2024 | 9:29 pm

LRN

Stride shares declined following a short report by Fuzzy Panda Research. The company has issued a response to the report.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2024 | 7:52 pm

GYRO

Gyrodynce shares rose following a favorable ruling from the New York Supreme Court, which dismissed a petition against the company.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2024 | 5:48 pm

RBLX

The Bear Cave's Edwin Dorsey accuses Hindenburg Research of plagiarism, claiming they used his research on Roblox without credit. Hindenburg's Nate Anderson denies the allegations, stating he never used Dorsey's work. The dispute centers around similar reports on Roblox and other companies.

Portfolio Pulse from Adam Eckert

October 16, 2024 | 4:23 pm

ABT

An Abbott executive reported that a judge in a trial concerning the company's pediatric products has prevented a joint statement and report from the FDA, CDC, and HHS from being included as evidence.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2024 | 1:47 pm