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Legal

VBIV

VBI Vaccines Inc. (NASDAQ:VBIV) has been granted provisional relief under Chapter 15 of the U.S. Bankruptcy Code by the U.S. Bankruptcy Court for the District of Delaware. A further hearing is scheduled to consider the recognition of the July 30, 2024, Ontario Superior Court of Justice order, which granted the company protection under the Companies' Creditors Arrangement Act (CCAA).

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 8:07 pm

META

The DOJ and FTC have filed a lawsuit against ByteDance's TikTok for repeatedly violating the Children's Online Privacy Protection Act (COPPA). The lawsuit alleges that TikTok collected personal information from children under 13 without parental consent. This legal action could benefit Meta Platforms Inc (NASDAQ:META), a competitor of ByteDance.

Portfolio Pulse from Hayden Buckfire

August 02, 2024 | 7:59 pm

PARA

Paramount Global has won an early victory in a legal dispute involving Skydance. A magistrate judge has rejected an investor's request for records related to offers from other media firms.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 7:28 pm

GOOG

GOOGL

T

A judge in California overturned a $4.7 billion verdict against the NFL in a lawsuit alleging overcharging for 'NFL Sunday Ticket.' The judge ruled that the plaintiffs failed to provide sufficient evidence. DirecTV, owned by AT&T, was not on trial. This year, Sunday Ticket is available on Alphabet's YouTube TV.

Portfolio Pulse from Aaron Bry

August 02, 2024 | 5:35 pm

INTC

NVDA

Nvidia Corp (NASDAQ:NVDA) is under scrutiny by hedge fund Elliott Management, which labeled the company a 'bubble' due to overhyped AI technology. Nvidia's stock is trading lower, having lost 12.4% in the last 30 days amid geopolitical tensions and a U.S. semiconductor embargo on China. Additionally, the U.S. Department of Justice has commenced an antitrust review against Nvidia. Intel Corp (NASDAQ:INTC) shares also fell 20% after weak Q2 results and job cut announcements.

Portfolio Pulse from Anusuya Lahiri

August 02, 2024 | 5:14 pm

GOOGL

META

SNAP

The U.S. Justice Department has filed a lawsuit against ByteDance, the parent company of TikTok, over alleged violations of children's privacy laws. This legal action could have significant implications for companies in the social media and technology sectors.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 5:10 pm

KO

Coca-Cola plans to appeal a $6 billion tax liability decision by the U.S. Tax Court. The company will pay the agreed-upon liability and interest while defending its position in the Eleventh Circuit Court of Appeals.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 1:26 pm

AGAE

Allied Gaming & Entertainment, Inc. (NASDAQ: AGAE) has filed a counterclaim against its former CEO, Frank Ng, alleging breaches of fiduciary duties. This follows an arbitration initiated by Ng against AGAE for alleged breaches of employment contracts. AGAE denies Ng's allegations and is confident in its defense.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 1:01 pm

GLASF

Glass House Brands is advocating for the complete de-scheduling of cannabis, following the DEA's comment period on rescheduling cannabis from a Schedule 1 to a Schedule 3 drug. The company highlights the immense public support for this change and sees a political opportunity for leaders to address this demand. The advocacy also focuses on addressing injustices faced by those incarcerated for cannabis-related offenses.

Portfolio Pulse from Abbey Higginbotham

August 02, 2024 | 12:56 pm

CVX

Chevron CEO Mike Wirth stated that the global oil market is well supplied and the company's move to Texas is about performance, not politics. The recent earnings miss involved non-recurring items, and the move to Houston continues a trend. Wirth is confident in an arbitration case and believes the Hess deal is likely to close. The second quarter was challenging for analysts to forecast.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 12:44 pm