Streetbeat News

Legal

SPCE

SpaceX is withdrawing employees from Brazil and advising against travel there due to Elon Musk's legal issues with Brazil's highest court over his social media company, X. This situation is impacting SpaceX and its Starlink service.

Portfolio Pulse from Benzinga Newsdesk

September 04, 2024 | 5:54 pm

EH

EHang Holdings shares are experiencing a decline after the company denied allegations of being linked to a government investigation.

Portfolio Pulse from Benzinga Newsdesk

September 04, 2024 | 5:13 pm

EH

EHang Holdings Limited (NASDAQ:EH) has refuted rumors linking it to a U.S. government investigation involving Chris Hu. The company denies any personal connections or involvement in the incident, emphasizing its commitment to transparency and compliance. EHang warns against misinformation affecting its stock and may pursue legal action to protect its reputation.

Portfolio Pulse from Benzinga Newsdesk

September 04, 2024 | 4:43 pm

OTRK

A class action lawsuit filed by Michael Farhar against Ontrak has been dismissed. This legal development may have implications for Ontrak's stock price and investor sentiment.

Portfolio Pulse from Benzinga Newsdesk

September 04, 2024 | 4:36 pm

BX

Barry Manilow is suing Hipgnosis Songs Fund, a Blackstone-backed company, for $1.5 million over unpaid bonuses related to his song catalog sale. The lawsuit accuses Hipgnosis of fraud and breach of contract, while Hipgnosis countersued Manilow for breach of contract. The outcome could impact future musician contracts with song catalog companies.

Portfolio Pulse from Chris Katje

September 04, 2024 | 4:35 pm

SPY

The SEC has decided to end its legal efforts to revive a rule that would require hedge funds to disclose certain fees. This decision may impact transparency in the hedge fund industry.

Portfolio Pulse from Benzinga Newsdesk

September 04, 2024 | 3:37 pm

JNJ

A Delaware judge has ruled that Johnson & Johnson must pay $1 billion in damages to Auris Health Inc. over a 2019 health robot deal.

Portfolio Pulse from Benzinga Newsdesk

September 04, 2024 | 2:53 pm

MCO

SPGI

The SEC has fined six major rating agencies, including Moody's, S&P Global, and Fitch, a total of $49 million for record-keeping failures. Moody's and S&P Global each face a $20 million penalty, while Fitch will pay $8 million. The agencies are enhancing compliance policies to address these issues.

Portfolio Pulse from Benzinga Neuro

September 04, 2024 | 11:45 am

GM

The National Highway Traffic Safety Administration (NHTSA) has concluded its engineering analysis into 1,339,355 General Motors vehicles regarding a potential failure of the outboard front seat belt anchor cable. This closure indicates that no further action will be taken by the NHTSA on this matter.

Portfolio Pulse from Benzinga Newsdesk

September 04, 2024 | 9:44 am

AMZN

PDD

WMT

The U.S. Consumer Products Safety Commission (CPSC) has called for an investigation into e-commerce platforms Shein and Temu, owned by PDD Holdings Inc., over allegations of selling dangerous baby products. The probe will assess compliance with CPSC regulations and the management of third-party sellers. The use of the de minimis rule, which allows packages under $800 to avoid tariffs, is also under scrutiny. This investigation highlights the regulatory challenges faced by Chinese retailers in the U.S. market.

Portfolio Pulse from Benzinga Neuro

September 04, 2024 | 7:22 am