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Legal

SINGY

Singapore Airlines (OTC:SINGY) has offered up to $25,000 in compensation to passengers after a fatal turbulence incident. The airline is addressing the aftermath by providing immediate financial assistance, covering medical expenses, and revising safety policies.

Portfolio Pulse from Benzinga Neuro

June 11, 2024 | 5:57 am

LYFT

UBER

A U.S. appeals court has rejected Uber and Postmates' challenge to California's AB5 law, which could force them to classify drivers as employees. Uber maintains that drivers remain contractors under Proposition 22, which is under separate review. The ruling is part of a broader national debate on gig economy regulations.

Portfolio Pulse from Benzinga Neuro

June 11, 2024 | 5:56 am

AAPL

CELH

LLY

META

TSLA

On Monday, major U.S. indices closed positively. Apple announced a partnership with OpenAI, Meta's legal battle over the Cambridge Analytica scandal is heading to the U.S. Supreme Court, Celsius Holdings' shares dropped significantly, Eli Lilly shared positive results from a phase 2 study, and Tesla executives supported CEO Elon Musk's pay package.

Portfolio Pulse from Benzinga Neuro

June 11, 2024 | 1:35 am

META

The U.S. Supreme Court will consider a lawsuit against Meta Platforms (NASDAQ:META) related to the Cambridge Analytica scandal. The lawsuit alleges that Meta misled investors about the misuse of user data, leading to significant share price drops in 2018. If the case proceeds, Meta could face a $2 billion settlement.

Portfolio Pulse from Michael Juliano

June 10, 2024 | 8:47 pm

ADSK

Autodesk faces a stockholder derivative complaint filed on June 7, 2024, in the US District Court for the Northern District of California. The complaint names current directors and the Chief Strategy Officer as defendants, alleging violations of Section 14(a) of the Exchange Act, breach of fiduciary duties, and other related charges.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 8:35 pm

TSLA

The California Department of Motor Vehicles (DMV) is proceeding with its case against Tesla, accusing the company of false advertising related to its Autopilot feature. The DMV claims that Tesla misled consumers about the capabilities of its Autopilot system.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 7:23 pm

BLOK

EDUT

IYW

PWSC

Bain Capital's $5.6 billion acquisition of PowerSchool Holdings (NYSE:PWSC) is under investigation for potential conflicts of interest and concerns over the deal price. Shareholder rights law firm Julie & Holleman is probing the transaction, citing issues with private equity firms Vista Equity Partners and Onex. The deal is expected to close in the second half of the year.

Portfolio Pulse from Michael Juliano

June 10, 2024 | 7:06 pm

PEGY

Pineapple Energy Inc. is investigating potential purposeful short selling of its stock and has retained Shareholder Intelligence Services, LLC to conduct the investigation.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 6:33 pm

GSK

GSK announced that scientific consensus finds no consistent evidence linking Zantac (Ranitidine) to cancer. Additionally, no settlement or payment was made in Ms. Kasza's voluntary dismissal.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 5:29 pm

NKLA

Nikola Corporation (NASDAQ:NKLA) shares are trading slightly higher after shareholders approved all proposals at the Annual Meeting, including a reverse stock split. However, the company faces challenges as former CEO Trevor Milton filed a multi-billion dollar derivative lawsuit against the current chief legal officer and directors.

Portfolio Pulse from Erica Kollmann

June 10, 2024 | 4:52 pm