Streetbeat News

Legal

SMCI

Super Micro Computer is under investigation by the Justice Department for alleged accounting violations, following a report by a short-selling firm. The probe is in its early stages.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2024 | 2:49 pm

QFIN

Grizzly Research has issued a report on Qifu Technology, Inc. (NASDAQ: QFIN), alleging that the company is a 'China Hustle Stock' with fake financials, fraudulent backers, and a failing business model.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2024 | 1:54 pm

AMZN

A former Amazon seller has filed a lawsuit against India's competition authority over its investigation into Amazon and its sellers. This legal action could impact Amazon's operations and reputation in India.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2024 | 1:41 pm

SCLX

SRNEQ

The U.S. Bankruptcy Court has extended the lock-up period for Scilex Dividend Stock, distributed by Sorrento, to January 31, 2025. This prevents the sale or transfer of these shares until the new date.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2024 | 1:15 pm

TKO

TKO Group has reached an agreement to settle all claims in the Le case for a total of $375 million, as per an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2024 | 12:35 pm

AMT

REGN

TSM

TT

On CNBC's 'Final Trades', experts discussed Taiwan Semiconductor, Regeneron Pharmaceuticals, American Tower, and Trane Technologies. Taiwan Semiconductor received a $7.5 billion investment approval, Regeneron faced a legal setback, American Tower received a price target increase, and Trane Technologies reported strong earnings.

Portfolio Pulse from Avi Kapoor

September 26, 2024 | 12:32 pm

MSFT

OpenAI is transitioning to a for-profit model, potentially leading to a $150 billion valuation and a $10.5 billion payday for CEO Sam Altman. This move, backed by Microsoft, aims to attract more investors but has sparked controversy, including legal challenges from Elon Musk.

Portfolio Pulse from Rounak Jain

September 26, 2024 | 11:19 am

XRP

John Deaton, a Senate hopeful, supports Mark Cuban and Anthony Scaramucci's opposition to SEC Chair Gary Gensler's cryptocurrency policies. Deaton, known for backing Ripple Labs in its legal battle with the SEC, criticizes Gensler and Sen. Elizabeth Warren for their anti-crypto stance. Cuban and Scaramucci, part of the 'Crypto for Harris' group, advocate for pro-crypto policies and support Deaton against Warren.

Portfolio Pulse from Aniket Verma

September 26, 2024 | 5:34 am

LLY

Eli Lilly is taking action against compounding pharmacies selling knockoff weight loss drugs, citing safety concerns. The company is seeking medical records to build a case against these businesses. Eli Lilly's stock has soared due to high demand for its weight loss drugs, despite supply constraints.

Portfolio Pulse from Chris Katje

September 25, 2024 | 10:01 pm