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Legal

NAVI

SLM

SOFI

A U.S. judge has temporarily blocked the Biden administration's student loan relief plan, which could benefit student loan providers like SoFi Technologies, Navient Corp, and SLM Corporation. The decision follows a lawsuit by seven Republican-led states and a recent Supreme Court ruling against a similar plan.

Portfolio Pulse from Erica Kollmann

September 05, 2024 | 9:11 pm

NVDA

SMCI

Super Micro Computer Inc. (SMCI) has faced a 60% stock decline since joining the S&P 500, exacerbated by a Barclays downgrade due to concerns over AI server margins, customer erosion, and internal controls. Accusations of accounting manipulation by Hindenburg Research and delayed 10-K filing have further impacted investor confidence.

Portfolio Pulse from Surbhi Jain

September 05, 2024 | 7:52 pm

AILE

iLearningEngines, Inc. (NASDAQ:AILE) has formed a Special Committee of independent directors to investigate allegations from a short-seller report. The committee has engaged Paul Hastings LLP for an independent investigation, despite past clean audit opinions.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2024 | 7:34 pm

AMZN

Amazon has filed a lawsuit against the U.S. Labor Board, accusing it of interfering in a union election and claiming that the agency's structure is unconstitutional. This legal action could impact Amazon's labor relations and regulatory environment.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2024 | 7:23 pm

SNAP

Snap Inc has received a complaint from the New Mexico Attorney General and is reviewing it carefully. The company plans to respond to the claims in court and has been actively working to find, remove, and report bad actors.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2024 | 7:22 pm

SNAP

New Mexico has filed a lawsuit against Snap, the owner of Snapchat, alleging that the app facilitates the sexual exploitation of minors. The lawsuit claims that Snapchat's design, which includes disappearing messages, makes it attractive for predators. The state argues that Snap has misled the public about the safety of its platform, despite internal research showing young users frequently encounter harmful content. The lawsuit is part of a broader effort to address online child sexual abuse material.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2024 | 7:22 pm

MSFT

NVDA

Xockets has filed an antitrust and patent infringement lawsuit against NVIDIA, Microsoft, and RPX Corp., alleging violations of federal antitrust laws.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2024 | 6:56 pm

BAC

Bank of America has stated that it has not found any evidence to support allegations that it shared non-public information with certain investors.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2024 | 6:32 pm

JNJ

Johnson & Johnson has increased its talc settlement offer to $9 billion, gaining preliminary support from a key lawyer representing 12,000 claimants. This move aims to cap liabilities and avoid prolonged lawsuits. However, some opposition remains.

Portfolio Pulse from Vandana Singh

September 05, 2024 | 6:30 pm

BAC

Bank of America is investigating allegations that its bankers in Asia shared nonpublic information with investors in India before stock sales, potentially enabling front running. The complaint involves three deals since 2023.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2024 | 6:11 pm