Streetbeat News

Legal

ENZ

Enzo Biochem has been ordered to pay $4.5 million for failing to protect patient data, according to a report by Reuters citing the New York Attorney General.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 2:38 pm

GOOG

GOOGL

The U.S. Federal Trade Commission (FTC) has outlined its concerns regarding remedies in an amicus brief following a jury verdict that found Google illegally monopolized its app store. This development could have significant implications for Google's business operations and regulatory environment.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 2:33 pm

NVS

Novartis AG (NYSE:NVS) faced a legal setback as a federal court ruled against its effort to block MSN Pharmaceuticals from launching a generic version of its top-selling heart-failure drug, Entresto. Despite the ruling, the judge temporarily suspended MSN's sales while Novartis appealed. Entresto generated $1.89 billion in Q2 sales, up 25% YoY. Novartis is considering all options to defend its IP rights and maintains its financial outlook for 2024.

Portfolio Pulse from Vandana Singh

August 13, 2024 | 2:32 pm

SPY

TSLA

The United Auto Workers (UAW) has filed federal labor charges against Donald Trump and Elon Musk. This development could have implications for companies associated with these individuals.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 2:09 pm

MAR

Marriott International (NASDAQ:MAR) has filed a lawsuit against franchisee Pride Hotel LLC for unauthorized use of a hotel property as a migrant shelter, claiming significant brand harm and seeking over $2.6 million in damages. The legal action highlights the broader financial and operational challenges faced by businesses and the city amid New York's migrant crisis.

Portfolio Pulse from Vandana Singh

August 13, 2024 | 1:54 pm

JNJ

Johnson & Johnson (NYSE:JNJ) has made significant progress in resolving lawsuits related to its baby powder allegedly causing cancer. Over 75% of plaintiffs have agreed to a $6.5 billion settlement proposal. This milestone could lead to a fast-tracked Chapter 11 bankruptcy filing to manage liabilities. Despite this progress, J&J still faces legal challenges.

Portfolio Pulse from Vandana Singh

August 13, 2024 | 1:50 pm

RY

Nadine Ahn, former CFO of Royal Bank of Canada (NYSE:RY), has filed a wrongful termination lawsuit against the bank, alleging gender-based stereotyping. RBC terminated Ahn after an investigation revealed an undisclosed personal relationship with another executive, leading to preferential treatment. Ahn is seeking nearly C$50 million in damages, while another executive, Ken Mason, is suing for C$20 million. RBC denies the claims and plans to defend itself in court.

Portfolio Pulse from Lekha Gupta

August 13, 2024 | 1:43 pm

BRFH

Barfresh Food Group has received multiple offers to fund its ongoing lawsuit and has entered into an agreement with Boesch Law Group.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 12:34 pm

FQVLF

GOLD

TECK

Barrick Gold (NYSE:GOLD) has expressed interest in partnering with the Panamanian government regarding the Cobre Panama mine, which has been idle due to contractual disputes between its owner, First Quantum Minerals (OTC:FQVLF), and the government. The mine's future remains uncertain, with potential new partnerships or operational changes expected next year. Barrick's CEO emphasized caution in overpaying for assets, while First Quantum seeks $20 billion in damages through arbitration.

Portfolio Pulse from Stjepan Kalinic

August 13, 2024 | 11:58 am

SONY

Celine Dion and Sony Music Entertainment Canada have objected to the unauthorized use of Dion's song 'My Heart Will Go On' at a Trump campaign rally. Sony, a unit of Sony Group Corp (NYSE:SONY), has not yet taken legal action. The family of musician Isaac Hayes is demanding $3 million from Trump for unauthorized use of 'Hold On, I'm Coming' and may pursue legal action if their demands are not met.

Portfolio Pulse from Chris Katje

August 12, 2024 | 10:40 pm