Streetbeat News

Legal

GM

Texas Attorney General Ken Paxton has filed a lawsuit against General Motors (GM) for allegedly unlawfully collecting and selling drivers' private data to several companies, including insurance firms.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 8:43 pm

AGAE

Allied Gaming & Entertainment (NASDAQ: AGAE) reports that Knighted Pastures LLC is attempting to acquire control of AGAE without paying a control premium or constructively engaging with the board. Knighted's actions have led to litigation, causing AGAE to incur a one-time pre-tax expense of ~$3M for Q2 2024, negatively impacting net income and EPS.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 8:43 pm

GOOG

GOOGL

The U.S. Justice Department is reportedly considering a rare bid to break up Alphabet Inc.'s Google, according to Bloomberg News.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 8:38 pm

FRG

RILY

B. Riley Financial Inc (NASDAQ:RILY) shares continue to fall due to delayed quarterly results and an SEC investigation into risk disclosures. The stock dropped 52% on Monday and another 11.9% on Tuesday. The SEC is also investigating communications between founder Bryant Riley and business partner Brian Kahn. Preliminary results show significant non-cash losses, leading to an expected net loss of $435 million to $475 million for Q2. Short sellers have heavily criticized the company.

Portfolio Pulse from Adam Eckert

August 13, 2024 | 7:23 pm

F

GM

STLA

TSLA

The United Auto Workers (UAW) has filed federal labor charges against Tesla CEO Elon Musk and former President Donald Trump following their comments about firing employees who threaten to strike. The charges were made with the National Labor Relations Board. Tesla has denied the allegations, stating that the firings were due to performance reviews. This development could impact Tesla's stock and has implications for the 2024 presidential election.

Portfolio Pulse from Chris Katje

August 13, 2024 | 7:17 pm

LQDA

UTHR

Traders are closely monitoring Liquidia (LQDA) as unconfirmed analyst comments suggest that United Therapeutics (UTHR) has filed a lawsuit against the FDA's action on Liquidia's lung-disease treatment Yutrepia, which is used for PAH and PH-ILD.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 6:24 pm

FCOM

IXP

META

METU

VOX

XLC

Polish billionaire Rafal Brzoska and his wife plan to sue Meta Platforms Inc. (NASDAQ:META) for allegedly featuring fake advertisements with their images on Facebook and Instagram. Despite notifying Meta in early July, the issue remains unresolved. Meta claims it removes false ads when identified and collaborates with local authorities to combat scammers. The lawsuit may be filed in the U.S. if European actions are insufficient. Meta's stock and related ETFs saw gains in mid-day trading.

Portfolio Pulse from Michael Juliano

August 13, 2024 | 4:55 pm

EWBC

IWINF

Irwin Naturals Inc. (OTC:IWINF) is facing a lawsuit from East West Bank (EWB) over a $40 million loan default. EWB claims Irwin Naturals engaged in self-dealing and fund diversion, leading to the removal of CEO Klee Irwin from the board. The company has filed for Chapter 11 bankruptcy to reorganize and stabilize its operations.

Portfolio Pulse from Juan Spínelli

August 13, 2024 | 4:40 pm

NNE

NANO Nuclear has engaged Quinn Emanuel to pursue legal action against Hunterbrook Media for deceptive reporting. Alex Spiro will lead the case to protect the company's and shareholders' interests.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 4:30 pm

DJT

Trump Media & Technology Group shares are trading lower, potentially due to Donald Trump's recent activity on X and the UAW filing federal labor charges against Trump and Elon Musk.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 2:58 pm