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Legal

TSLA

Tesla CEO Elon Musk expressed interest in reinstating Dogecoin as a payment option for Tesla merchandise. This follows a recent legal victory where Musk and Tesla were cleared of allegations of market manipulation involving Dogecoin.

Portfolio Pulse from Anan Ashraf

August 31, 2024 | 7:11 am

TSLA

Elon Musk's social media platform X, formerly Twitter, is proceeding with a lawsuit against Media Matters For America (MMFA) after a judge, who is a Tesla shareholder, allowed it. The lawsuit claims MMFA's negative reporting led to advertisers pulling out from X. The judge dismissed objections regarding the lawsuit's jurisdiction and ruled that X's claims have enough merit to proceed.

Portfolio Pulse from Ananya Gairola

August 31, 2024 | 7:01 am

EWZ

A Brazilian judge has banned the social media platform X in Brazil after Elon Musk refused to appoint a local representative. This decision could impact the operations of X in Brazil, a significant market for social media platforms.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2024 | 8:26 pm

RTX

RTX Corp has entered a consent agreement with the U.S. Department of State to resolve alleged civil violations of the Arms Export Control Act and International Traffic in Arms Regulations. A $100 million portion of the settlement, which was accrued by the company in Q2, will be paid in installments.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2024 | 8:15 pm

BTCUSD

DOGEUSD

ETHUSD

Cryptocurrency markets are experiencing a downturn, with Bitcoin struggling to reclaim the $60,000 level. Ethereum and other major cryptocurrencies are also trading lower. Notable developments include Ethereum co-founder's large Ether transfer and Elon Musk's legal victory in a Dogecoin-related lawsuit.

Portfolio Pulse from Khyathi Dalal

August 30, 2024 | 7:51 pm

TONUSD

Telegram, co-founded by Pavel Durov, derives 40% of its revenue from crypto-related operations, including an integrated wallet and sale of collectibles. Despite an operating loss, the company has raised significant investment and is valued over $30 billion. Durov's arrest in France raises concerns about Telegram's future.

Portfolio Pulse from Khyathi Dalal

August 30, 2024 | 6:10 pm

EWC

SPY

The U.S. Trade Representative has requested trade dispute settlement consultations with Canada over a new digital services tax, which is considered discriminatory and potentially in violation of the USMCA. If unresolved within 75 days, a dispute settlement panel may be sought.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2024 | 6:01 pm

ACI

JNJ

KVUE

RADCQ

Kenvue Inc. (NYSE:KVUE) successfully defended against a lawsuit claiming its Tylenol 'Rapid Release' gelcaps misled consumers. The court ruled in favor of Kenvue, citing FDA regulations. This decision reinforces FDA's authority over drug labeling.

Portfolio Pulse from Vandana Singh

August 30, 2024 | 5:47 pm

LLY

NVO

A recent ruling by U.S. District Judge Karen Marston in a multidistrict litigation involving diabetes and weight-loss drugs like Ozempic, Wegovy, and Mounjaro, developed by Novo Nordisk and Eli Lilly, could shape the outcome of the lawsuits. The litigation focuses on alleged side effects, specifically gastroparesis, and whether the drug labels adequately warned of these risks. The judge's decision to address key legal questions early could streamline or halt the litigation.

Portfolio Pulse from Vandana Singh

August 30, 2024 | 5:38 pm

CRWD

DAL

CrowdStrike Holdings Inc. (CRWD) is facing a potential 'Death Cross' as its stock's short-term moving average dips below its long-term average, signaling bearish trends. A dispute with Delta Air Lines (DAL) over a $500 million loss from a software update adds to the pressure. CrowdStrike's stock has dropped 42% in two weeks, losing $40 billion in market cap.

Portfolio Pulse from Surbhi Jain

August 30, 2024 | 4:54 pm