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Legal

VZ

A Texas jury has ruled that Verizon infringed on 5G patents and has ordered the company to pay an $847 million verdict.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2024 | 8:05 pm

SAVA

Cassava Sciences (NASDAQ:SAVA) issued a statement regarding the indictment of former science advisor Dr. Hoau-Yan Wang for allegedly defrauding the NIH. The company clarified that Dr. Wang and his former university had no involvement in the Phase 3 clinical trials of their lead drug candidate, Simufilam, for Alzheimer's treatment.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2024 | 8:00 pm

SAVA

Cassava Sciences, Inc. (NASDAQ:SAVA) shares plummeted over 30% following the indictment of Hoau-Yan Wang, a company advisor, for fabricating scientific data in NIH grant applications, leading to the misappropriation of $16 million in federal funds for Alzheimer's research.

Portfolio Pulse from Vaishali Prayag

June 28, 2024 | 8:00 pm

CRLBF

A legal battle in San Diego involves the Teamsters Union intervening in a lawsuit challenging California's labor peace agreement (LPA) requirements for cannabis businesses. The lawsuit, filed by Ctrl Alt Destroy, alleges that the LPA infringes on free speech and conflicts with federal labor laws. The Teamsters claim some companies are using 'sham' unions to meet LPA requirements superficially. This case could set a precedent for the cannabis industry in other states with similar labor laws.

Portfolio Pulse from Rolando García

June 28, 2024 | 7:39 pm

BTI

MO

PM

XXII

The Supreme Court has overturned the Chevron doctrine, which required courts to defer to regulators like the FDA on certain legal issues. This decision is seen as a victory for vape manufacturers, who believe it will weaken the FDA's power to regulate tobacco and nicotine products. The FDA has been trying to ban over 1 million vapes, citing public health concerns, but vape companies now see a potential breakthrough in their legal battles.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2024 | 7:36 pm

LYV

Live Nation Entertainment shares are trading higher on reports that the Justice Department's antitrust trial could take place in 2026.

Portfolio Pulse from Bill Haddad

June 28, 2024 | 6:13 pm

SAVA

Cassava shares are trading lower after a federal jury indicted Hoau-Yan Wang for a grant fraud scheme, alleging he fabricated scientific data in grant applications.

Portfolio Pulse from Bill Haddad

June 28, 2024 | 5:50 pm

BTI

IP

OLN

PM

SWBI

The U.S. Supreme Court has overturned the Chevron doctrine, a 40-year-old decision that allowed the executive branch to interpret ambiguous congressional statutes. This ruling could destabilize the legal system, according to the Biden administration. Stocks of companies in the gun, tobacco, and timber industries had mixed reactions to the news.

Portfolio Pulse from Michael Juliano

June 28, 2024 | 5:25 pm

SAVA

A federal grand jury has indicted Hoau-Yan Wang, a Pennsylvania man, for defrauding the NIH of $16 million in federal grant funds by allegedly fabricating scientific data in grant applications for Alzheimer's research. Wang faces charges of major fraud, wire fraud, and false statements, and could face up to 55 years in prison if convicted.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2024 | 5:25 pm

COIN

ETHE

The SEC has filed a lawsuit against ConsenSys, alleging the firm failed to register as a broker. This legal action could have significant implications for the cryptocurrency market and related companies.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2024 | 5:21 pm