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Legal

EFXT

Enerflex has received a notice from its customer intending to terminate the EH Cryo project contract effective September 8, 2024. Enerflex views this as a wrongful attempt, following a Force Majeure notice due to a drone attack, and plans to dispute the termination.

Portfolio Pulse from Benzinga Newsdesk

August 20, 2024 | 9:10 pm

MA

MarketDial has won two lawsuits filed by a Mastercard subsidiary, Applied Predictive Technologies, over patent infringement and trade secret misappropriation. The court ruled that the technology was not patentable and no trade secrets were identified.

Portfolio Pulse from Benzinga Newsdesk

August 20, 2024 | 6:30 pm

FXI

PDD

Shein has filed a lawsuit against Temu for copyright infringement, alleging that Temu has been using Shein's copyrighted images and designs without permission. This legal action could impact the competitive dynamics between the two companies.

Portfolio Pulse from Benzinga Newsdesk

August 20, 2024 | 5:36 pm

CVX

HES

IYE

XLE

XOM

An arbitration panel is set to examine the hidden value of Hess Corporation's oil assets in Guyana amidst a dispute between Exxon Mobil and Chevron. The conflict revolves around whether the deal triggers Exxon's right of first refusal, potentially affecting Chevron's $53 billion acquisition of Hess. Exxon is considering a counterbid if the arbitration supports their claim. The decision is expected in the second half of 2025.

Portfolio Pulse from Lekha Gupta

August 20, 2024 | 4:16 pm

CXW

The Department of Justice has initiated an investigation into a Tennessee prison operated by CoreCivic. This development could have implications for CoreCivic's operations and financial performance.

Portfolio Pulse from Benzinga Newsdesk

August 20, 2024 | 4:10 pm

HUM

Humana Inc. has settled a whistleblower lawsuit for $90 million, addressing allegations of fraudulent Medicare Part D bids. The lawsuit claimed Humana overcharged the government by submitting misleading bids for prescription drug contracts from 2011 to 2017. The case, initiated by a former Humana actuary, highlighted discrepancies in cost predictions that favored Humana. Despite the DOJ not intervening, the case proceeded and was settled before trial.

Portfolio Pulse from Vandana Singh

August 20, 2024 | 2:01 pm

ACI

AHOY

KR

PBJ

Kroger has filed a legal motion against the FTC, claiming its merger review process with Albertsons is unconstitutional. The company argues that the FTC's dual tribunal approach violates constitutional protections. The merger, valued at $25 billion, faces antitrust challenges over concerns of higher grocery prices. Kroger is also offering private exchange offers for Albertsons' notes.

Portfolio Pulse from Lekha Gupta

August 20, 2024 | 12:26 pm

STLA

The UAW union is considering a strike against Stellantis due to alleged delays in investment commitments, including a $3.2 billion battery plant and a $1.5 billion truck factory. The union claims Stellantis has not adhered to its 2023 labor agreement, potentially affecting thousands of jobs. Stellantis shares are up 0.43% premarket.

Portfolio Pulse from Lekha Gupta

August 20, 2024 | 11:50 am

DIS

Disney has agreed to a court trial for a wrongful death lawsuit in Florida, reversing its previous stance on arbitration. The lawsuit involves a fatal allergic reaction incident at a restaurant in Disney Springs. Disney initially argued for arbitration based on a Disney+ subscription agreement but has now opted for a court trial to expedite resolution.

Portfolio Pulse from Benzinga Neuro

August 20, 2024 | 7:18 am