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Legal

NVDA

Nvidia is facing increased challenges as the DOJ and SEC support a lawsuit alleging the company misrepresented its crypto revenue. This development could impact Nvidia's stock in the short term.

Portfolio Pulse from Akanksha Bakshi

October 04, 2024 | 1:34 pm

TPX

Tempur Sealy International, Inc. has filed a complaint seeking to enjoin the FTC's administrative challenge to its merger with Mattress Firm, arguing it violates constitutional protections. A federal court hearing is scheduled for November 12, 2024.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2024 | 1:31 pm

NVDA

Nvidia is facing a class action lawsuit backed by the DOJ and SEC, alleging it misrepresented cryptocurrency revenue as gaming revenue. The lawsuit, initially dismissed, has been revived by an appeals court. Nvidia's stock saw a slight increase but declined marginally in after-hours trading.

Portfolio Pulse from Aniket Verma

October 04, 2024 | 9:48 am

META

Revolut has criticized Meta Platforms for not taking responsibility in reimbursing fraud victims, despite a high percentage of scams originating from Meta's platforms. Revolut calls for Meta to support victims similarly to financial institutions.

Portfolio Pulse from Ananya Gairola

October 04, 2024 | 5:31 am

JBLU

SAVE

Spirit Airlines is in talks with bondholders about a potential bankruptcy filing due to financial struggles, including a $3.3 billion debt load. The airline is considering Chapter 11 and restructuring options after a failed merger with JetBlue. Spirit's stock has plummeted, while JetBlue's stock has seen gains.

Portfolio Pulse from Benzinga Neuro

October 04, 2024 | 2:15 am

AMZN

GOOG

META

SNAP

Texas Attorney General Ken Paxton has filed a lawsuit against TikTok for allegedly violating the SCOPE Act by sharing minors' personal data without parental consent. The lawsuit seeks civil penalties and injunctive relief to prevent future violations.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2024 | 8:01 pm

CI

CVS

LLY

Texas Attorney General Ken Paxton has filed a lawsuit against major insulin manufacturers and pharmacy benefit managers, including Eli Lilly, Cigna's Express Scripts, and CVS Health, alleging a conspiracy to inflate insulin prices by up to 1,000%. The lawsuit accuses these companies of manipulating the market to increase profits at the expense of diabetes patients.

Portfolio Pulse from Vandana Singh

October 03, 2024 | 7:27 pm

BA

Two U.S. Senators have criticized the Justice Department's plea agreement with Boeing, urging action against executives responsible for safety failures. This criticism highlights ongoing scrutiny of Boeing's handling of safety issues.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2024 | 6:43 pm

AMZN

The National Labor Relations Board (NLRB) has filed a complaint against Amazon for alleged union-busting activities, including failing to recognize and bargain with the Teamsters Union for its Delivery Service Partner drivers. The NLRB accuses Amazon of unfair labor practices, such as refusing to acknowledge workers' union rights and retaliating against unionized employees. Amazon has historically opposed being labeled as a joint employer of its contracted delivery companies.

Portfolio Pulse from Anusuya Lahiri

October 03, 2024 | 5:33 pm

RBLX

Roblox Corp (NYSE:RBLX) shares fell after The Bear Cave released a report alleging the company facilitates child abuse and may be linked to mass shootings. Roblox has denied these claims, emphasizing its safety-first culture.

Portfolio Pulse from Adam Eckert

October 03, 2024 | 4:44 pm