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Legal

SPY

VGK

Evan Gershkovich, a Wall Street Journal reporter, has been indicted by Russian prosecutors on espionage charges. The U.S. government considers him wrongfully detained. Gershkovich has been held in Moscow's Lefortovo Prison since March 29 last year. The case will proceed to a trial court with potential secret hearings.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 2:02 pm

SPOT

Music publishers have filed a complaint with the FTC against Spotify, accusing the company of fraudulent business practices. This could lead to regulatory scrutiny and potential legal challenges for Spotify.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 1:42 pm

GME

MSFT

Microsoft President Brad Smith will testify before a U.S. House panel regarding security lapses after major cyberattacks by Russian and Chinese hackers. The Cyber Safety Review Board criticized Microsoft for not being transparent about a preventable Chinese hack. Lawmakers will review Microsoft's security strategies and responses.

Portfolio Pulse from Anusuya Lahiri

June 13, 2024 | 1:35 pm

FDIS

NKE

PMMAF

VCR

Nike's attempt to trademark 'footware' for tech-related products was rejected by the General Court of the European Union, following a challenge from Puma. The court ruled that 'footware' could be confused with the generic term 'footwear' and mandated Nike to cover Puma's legal expenses. Nike has the option to appeal to the European Court of Justice.

Portfolio Pulse from Shivani Kumaresan

June 13, 2024 | 1:24 pm

NXDT

NexPoint Real Estate Opportunities, LLC is urging shareholders of United Development Funding IV (UDF IV) to vote for new trustees to restore accountability and transparency following criminal convictions of former management. NexPoint plans to nominate four independent trustees to replace the current board members, who have been accused of violating fiduciary duties and entrenching themselves at the expense of shareholders.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 12:41 pm

META

Meta Platforms Inc. (NASDAQ:META) faces a complaint in Norway for using user data from Facebook and Instagram to train AI models, potentially violating EU data protection laws. The Norwegian Consumer Council claims Meta's opt-out process is deceptive and difficult. The complaint will be reviewed by the Norwegian Data Protection Authority and other European authorities.

Portfolio Pulse from Benzinga Neuro

June 13, 2024 | 10:33 am

ITA

PPA

Boeing Co (NYSE:BA) has asserted its compliance with a 2021 agreement to avoid criminal prosecution after the 737 MAX crashes, countering a recent U.S. Justice Department finding. The Justice Department has until July 7 to decide on prosecutorial plans, which could include launching a criminal case or extending the deferred prosecution agreement. Boeing's stock has declined over 17% in the past year, and investors can gain exposure through IShares U.S. Aerospace & Defense ETF (BATS:ITA) and Invesco Aerospace & Defense ETF (NYSE:PPA).

Portfolio Pulse from Shivani Kumaresan

June 13, 2024 | 10:26 am

GOOG

GOOGL

Alphabet Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG) faces a privacy complaint from Austrian advocacy group NOYB, alleging improper user tracking via Chrome. This comes amid ongoing scrutiny of Google's privacy practices, including concerns from the UK's ICO and a recent lawsuit over Incognito mode tracking.

Portfolio Pulse from Benzinga Neuro

June 13, 2024 | 7:18 am

LUNAUSD

LUNCUSD

Terraform Labs and its founder Do Kwon have agreed to a $4.47 billion settlement with the SEC after being found guilty of defrauding cryptocurrency investors during the Terra (LUNA) collapse. The judgment includes $4.05 billion of disgorgement and a $420 million civil fine, but much of this is unlikely to be paid due to Terraform's bankruptcy. Kwon is banned from cryptocurrency transactions and must transfer $204.3 million to Terraform's bankruptcy estate.

Portfolio Pulse from Aniket Verma

June 13, 2024 | 5:46 am

AAPL

ARM

AVGO

NVDA

TSLA

Major U.S. indices had a mixed performance on Wednesday. NVIDIA, Apple, ARM Holdings, Broadcom, and Tesla were the top stocks that gained attention. NVIDIA rose 3.55% amid AI excitement, Apple increased 2.86% after unveiling new software features, ARM Holdings surged 8.11% due to new CPI data and AI enthusiasm, Broadcom climbed 2.36% after beating earnings estimates and announcing a stock split, and Tesla gained 3.88% despite its CEO facing an insider trading lawsuit.

Portfolio Pulse from Benzinga Neuro

June 13, 2024 | 2:24 am