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PFE

A power struggle has emerged between Pfizer and activist investor Starboard Value, with Guggenheim Partners caught in the middle. Starboard, holding a $1 billion stake, criticizes Pfizer's acquisitions and capital allocation, leading to a 50% stock drop from its peak. Former Pfizer executives reversed their support for Starboard, backing current CEO Albert Bourla. Guggenheim, a long-time advisor to Pfizer, is entangled in the dispute, while Pfizer turns to PJT Partners for defense.

Portfolio Pulse from Vandana Singh

October 16, 2024 | 12:19 pm

GYRO

Gyrodyne received a favorable ruling from the Supreme Court of the State of New York, which dismissed a petition against it by the St. James - Head Of The Harbor Neighborhood Preservation Coalition, Inc.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2024 | 11:04 am

JNJ

Johnson & Johnson has been ordered to pay $15 million in compensatory damages in a Connecticut asbestos case, with the potential for additional punitive damages. J&J subsidiaries were also defendants in the lawsuit.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2024 | 6:26 am

BTCUSD

XRPUSD

Sen. Elizabeth Warren and her Republican challenger John Deaton clashed over cryptocurrencies in a debate. Warren accused Deaton of being funded by the crypto industry, while Deaton countered by highlighting his regulatory challenges. Deaton is known for supporting Ripple Labs in its legal battle with the SEC.

Portfolio Pulse from Aniket Verma

October 16, 2024 | 6:23 am

GOOGL

META

SNAP

Meta Platforms Inc. (NASDAQ:META) is facing lawsuits from over 30 U.S. states accusing it of contributing to mental health issues among teenagers by making its platforms addictive. A U.S. judge rejected Meta's attempt to dismiss these claims, allowing the lawsuits to proceed. Similar motions from YouTube (Alphabet Inc.), Snapchat (Snap Inc.), and TikTok were also rejected.

Portfolio Pulse from Ananya Gairola

October 16, 2024 | 3:14 am

MJNA

The U.S. Supreme Court is deliberating a case involving Douglas Horn, a truck driver fired after a failed drug test due to CBD use. Horn is suing under the RICO Act, claiming business injury. The case could impact the scope of RICO lawsuits.

Portfolio Pulse from Maureen Meehan

October 15, 2024 | 9:53 pm

BA

SPY

A U.S. judge has ordered Boeing and the government to provide additional briefing by October 25 regarding a plea deal. This development is part of ongoing legal proceedings involving Boeing.

Portfolio Pulse from Benzinga Newsdesk

October 15, 2024 | 8:29 pm

JNJ

A jury has found Johnson & Johnson's talc powder responsible for causing cancer in a Connecticut man. This verdict could have significant implications for J&J, as it may lead to further lawsuits and financial liabilities.

Portfolio Pulse from Benzinga Newsdesk

October 15, 2024 | 7:35 pm

META

Meta Platforms Inc. is facing legal challenges as state attorneys general pursue claims related to addiction issues allegedly caused by its platforms. A judge has ruled that some of these claims can proceed, potentially impacting Meta's legal and financial standing.

Portfolio Pulse from Benzinga Newsdesk

October 15, 2024 | 7:08 pm

META

Meta Platforms Inc. is facing a lawsuit from multiple state attorneys general, accusing the company of contributing to a youth mental health crisis by making social media addictive for children.

Portfolio Pulse from Benzinga Newsdesk

October 15, 2024 | 7:07 pm