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Legal

GILD

Gilead Sciences (NASDAQ:GILD) has filed a new lawsuit against Peter Khaim and two New York City pharmacies for allegedly counterfeiting its HIV medications, Biktarvy and Descovy. The company seized $750,000 worth of fake drugs in July. This is Gilead's second major legal action against Khaim, who had previously been prohibited from selling Gilead-branded products.

Portfolio Pulse from Vandana Singh

August 16, 2024 | 3:24 pm

GSK

PFE

SNY

A Florida State Court ruled in favor of GSK plc (NYSE:GSK), excluding expert testimonies that claimed ranitidine, sold under the Zantac brand, was a significant risk factor for prostate cancer. This ruling aligns with a December 2022 federal MDL decision and supports the scientific consensus that ranitidine does not pose a reliable cancer risk. The ruling is a significant legal win for GSK, which is also seeking the dismissal of similar cases. Pfizer Inc. (NYSE:PFE) and Sanofi SA (NASDAQ:SNY) have also settled lawsuits related to Zantac.

Portfolio Pulse from Vandana Singh

August 16, 2024 | 1:00 pm

AAPL

GOOGL

Tencent-backed Epic Games has reintroduced Fortnite on the iPhone along with an entire app store, following a four-year legal battle with Apple. The launch is facilitated by the EU's Digital Markets Act, which forced Apple to allow the app. Epic Games criticized Apple and Google for their lengthy installation processes and continues to fight against their anticompetitive terms. The Epic Games Store will also be available on independent mobile stores like AltStore PAL and Aptoide's iOS store in the EU.

Portfolio Pulse from Benzinga Neuro

August 16, 2024 | 12:05 pm

ADSK

Autodesk shares are trading lower following a report suggesting the company ignored internal warnings about accounting risks.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2024 | 11:36 am

STLA

Stellantis N.V. (NYSE:STLA) is facing a lawsuit from shareholders in the U.S. for allegedly inflating its stock price by hiding rising inventories and other weaknesses. The lawsuit claims that the company made overly positive statements about its performance, leading to disappointing earnings and a subsequent drop in stock price. The lawsuit seeks unspecified damages for shareholders from February 15 to July 24, 2024. Stellantis reported a significant decline in revenue and earnings for the first half of 2024, which contributed to the stock's decline.

Portfolio Pulse from Lekha Gupta

August 16, 2024 | 10:40 am

GSK

A Florida State Court has ruled in favor of GSK and other defendants, excluding the plaintiff's experts' testimony that ranitidine was a significant risk factor for Wilson's prostate cancer.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2024 | 10:25 am

ADRT

AULT

On August 15, 2024, Ault Disruptive Technologies (ADRT) delivered a termination notice to Gresham, exercising its right to terminate the merger agreement due to Gresham's recent bankruptcy filing.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 8:45 pm

ADSK

Autodesk shares are trading lower following a report suggesting the company ignored internal warnings about accounting risks.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 8:45 pm

ADSK

Autodesk has continued a controversial sales practice despite pledging to halt it, ignoring internal warnings about accounting risks. Activist investor Starboard Value is pushing for leadership changes over the handling of an accounting probe.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 8:31 pm

FTXG

IYK

PEP

PepsiCo (NASDAQ:PEP) faces a lawsuit for allegedly deceptive marketing of its Gatorade protein bars, which contain more sugar than protein. The lawsuit claims the bars are misleadingly marketed as healthy, despite having high sugar content. PepsiCo counters that the claims are implausible. PEP stock has lost over 5% in the past year. Investors can gain exposure to PEP via iShares U.S. Consumer Staples ETF (NYSE:IYK) and First Trust Nasdaq Food & Beverage ETF (NASDAQ:FTXG).

Portfolio Pulse from Nabaparna Bhattacharya

August 15, 2024 | 4:46 pm