Streetbeat News

Legal

SCHW

TD

TD Bank has taken a $2.6 billion provision in its Q3 financial results for anticipated fines related to U.S. AML matters. The bank expects to offset this partially through the sale of Schwab shares.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2024 | 9:16 pm

TD

TD Bank is working on resolving U.S. Anti-Money Laundering (AML) matters and expects a global resolution by the end of the calendar year.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2024 | 9:13 pm

XTIA

XTI Aerospace is facing a legal claim from Chardan Capital Markets, which has filed a statement with FINRA seeking $950,000 in cash payments. XTI Aerospace disputes the claim and plans to defend against it.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2024 | 9:09 pm

AMD

NVDA

The U.S. Department of Justice is investigating Nvidia for alleged anti-competitive practices, including product bundling, as claimed by customers and rivals like AMD.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2024 | 7:36 pm

FCOM

IXP

META

METU

VOX

XLC

Meta Platforms, Inc. (NASDAQ:META) is facing a lawsuit from Ethan Zuckerman, a professor at the University of Massachusetts-Amherst, over user control on Facebook. The lawsuit aims to release a browser extension, Unfollow Everything 2.0, which would allow users to unfollow all friends, groups, and pages at once, effectively turning off their newsfeed. Meta has filed a motion to dismiss the suit, calling it baseless. Despite the lawsuit, Meta's stock and related ETFs have seen slight gains.

Portfolio Pulse from Michael Juliano

August 21, 2024 | 7:11 pm

BEN

A U.S. criminal investigation is reportedly focusing on WAMCO for alleged 'cherry-picking' practices. This could have implications for Franklin Resources, Inc. (BEN), which is associated with WAMCO.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2024 | 7:08 pm

BABA

PDD

Shein has filed a lawsuit against PDD Holdings Inc's Temu for design theft and fraud. Both companies face challenges, including economic pressures and competition from Amazon's new bargain section. PDD Holdings' stock has a positive outlook with a 44.82% expected upside.

Portfolio Pulse from Anusuya Lahiri

August 21, 2024 | 2:50 pm

AXSM

Axsome Therapeutics has reached an agreement with Sandoz to dismiss the patent litigation concerning Sunosi. This resolution may positively impact Axsome by removing legal uncertainties and allowing them to focus on their product offerings.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2024 | 11:01 am

MS

A luxury yacht sank off the coast of Sicily, leaving six passengers missing, including British tech entrepreneur Mike Lynch and Morgan Stanley International Chairman Jonathan Bloomer. The search for survivors continues, but hopes are fading. The incident has drawn international attention.

Portfolio Pulse from Benzinga Neuro

August 21, 2024 | 3:38 am

FCOM

GOOG

GOOGL

GOOX

IXP

VOX

XLC

Alphabet's Google faces a revived class action lawsuit regarding Chrome users' data privacy, following a U.S. appeals court ruling. The case, initially dismissed, questions whether users consented to data collection. Alphabet's stock saw a slight gain, while ETFs tracking it mostly declined.

Portfolio Pulse from Michael Juliano

August 20, 2024 | 10:31 pm