Streetbeat News

Legal

GOOG

GOOGL

Pershing Square Holdings believes that Google is well-positioned to navigate potential remedy outcomes if it loses its appeal on the DOJ ruling.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 4:39 pm

GOOGL

NKE

Pershing Square Holdings plans to discuss new investments in Nike and Brookfield Corp at a later date. They are also closely monitoring the federal court ruling against Google in the DOJ antitrust case regarding Google's default search deals.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 4:33 pm

JNJ

Johnson & Johnson (NYSE:JNJ) is nearing approval for a $6.48 billion settlement to resolve thousands of lawsuits alleging its baby powder products cause cancer. Over 75% of claimants have agreed to the settlement, surpassing the threshold required for judicial approval. A J&J subsidiary will file for bankruptcy protection to finalize the settlement. This marks a renewed attempt to conclude the long-standing talc litigation after previous bankruptcy filings were rejected.

Portfolio Pulse from Vandana Singh

August 15, 2024 | 3:03 pm

CRLBF

CURL

GTBIF

Sackville & Co., a cannabis design company founded by Lana Van Brunt and Hayley Dineen, regained control of their company after a legal battle with 48North. They have since thrived, collaborating with high-profile clients like Curaleaf, GTI, and Cresco Labs. The company focuses on creating art-inspired cannabis accessories and is committed to social justice initiatives.

Portfolio Pulse from Rolando García

August 15, 2024 | 2:41 pm

WULF

Grizzley Research has issued a critical report on TeraWulf, alleging that the company is designed to enrich insiders at the expense of investors and is backed by individuals known for pump and dump schemes.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 1:51 pm

NXTV

PKW

TMUS

T-Mobile US, Inc. (NASDAQ: TMUS) has been fined $60 million by the Committee on Foreign Investment in the U.S. for data security violations related to its 2020 acquisition of Sprint Corp. The fine is the largest ever for the company and stems from unauthorized access to sensitive data in 2020 and 2021. T-Mobile cited technical issues during post-merger integration as the cause. The stock is down 0.72% premarket. ETFs Simplify Next Intangible Value Index ETF (BATS: NXTV) and Invesco BuyBack Achievers ETF (NASDAQ: PKW) are also mentioned.

Portfolio Pulse from Lekha Gupta

August 15, 2024 | 1:21 pm

DELL

NXTV

TSLA

WLDR

The Delaware Supreme Court upheld a $267 million legal fee for securing a $1 billion settlement for Dell Technologies shareholders. This ruling could impact similar cases involving Tesla. Dell shares are trading higher premarket. The fee is the second largest in Delaware and fifth largest in federal securities litigation. Tesla is contesting substantial legal fees in other cases.

Portfolio Pulse from Lekha Gupta

August 15, 2024 | 1:11 pm

GOOG

GOOGL

Alphabet Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG) is appealing against the DOJ's antitrust ruling to avoid a potential breakup. Analyst Ray Wang discussed the market's anticipation of the appeal and the implications of Alphabet's exclusive deals with companies like Apple. Despite the DOJ's victory, a breakup is considered unlikely by some experts.

Portfolio Pulse from Benzinga Neuro

August 15, 2024 | 12:26 pm

BNBUSD

USTUSD

Changpeng Zhao (CZ), the former CEO of Binance, was sentenced to four months in prison for failing to establish an effective anti-money laundering program. His net worth has dropped from $40 billion to $28.2 billion. Binance agreed to pay $4.3 billion in fines, and Richard Teng is now the CEO. The native token BNB is down 1.34% in the last 24 hours but has grown 65% YTD.

Portfolio Pulse from Aniket Verma

August 15, 2024 | 11:00 am

TSLA

Elon Musk and Mark Cuban are engaged in an online feud, with Cuban accusing Musk of manipulating X's algorithm. Musk responded with emoji insults. Cuban has previously shown support for Musk's ownership of X but criticized his political endorsements.

Portfolio Pulse from Benzinga Neuro

August 15, 2024 | 9:39 am