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Legal

AAL

JETS

American Airlines' union is preparing for a potential strike and has opened a strike command center, despite flight attendants lacking the legal right to strike.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 2:13 pm

BAYRY

A Pennsylvania judge reduced a $2.25 billion verdict against Bayer AG to $400 million in a case involving cancer claims linked to Roundup weedkiller. Bayer plans to appeal the decision, while the plaintiff's legal team seeks to reinstate the original verdict. Despite numerous studies indicating glyphosate's safety, Bayer faces extensive legal challenges and over 50,000 pending claims.

Portfolio Pulse from Vandana Singh

June 05, 2024 | 2:06 pm

SPY

A US court has struck down the SEC's rule requiring hedge funds to disclose their fees. This decision could impact transparency and investor confidence in the hedge fund industry.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 1:42 pm

AAP

Advance Auto Parts (AAP) is reportedly facing a significant data breach, with a threat actor claiming to have exfiltrated 3 terabytes of data, including customer profiles, orders, loyalty card numbers, employee information, and more. The data is allegedly being sold for $1.5 million. The claims have yet to be verified.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 1:40 pm

MCD

McDonald's Corp. (NYSE:MCD) has lost the trademark rights to its Chicken Big Mac in the European Union due to insufficient evidence of continuous use. The ruling, made by the EU's General Court, does not affect the traditional beef Big Mac trademark. The decision can still be appealed.

Portfolio Pulse from Benzinga Neuro

June 05, 2024 | 12:36 pm

AXSM

Axsome Therapeutics has entered into a settlement agreement with Unichem Laboratories Ltd. to resolve patent litigation related to Axsome's product Sunosi (solriamfetol).

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 11:40 am

META

A former Meta Platforms Inc. engineer, Ferras Hamad, has filed a lawsuit against the company, alleging wrongful termination and bias in handling Gaza-related content. Hamad claims he was fired for addressing bugs that suppressed Palestinian posts on Instagram and for filing an internal discrimination complaint. The lawsuit highlights ongoing criticisms of Meta's content moderation policies during the Israel-Hamas conflict.

Portfolio Pulse from Ananya Gairola

June 05, 2024 | 7:44 am

BTCUSD

A Utah woman, Krista Renae Stone, confessed to using Bitcoin to pay for a murder-for-hire via the dark web. She is due to be sentenced on July 15. This incident highlights the misuse of cryptocurrencies for illegal activities.

Portfolio Pulse from Aniket Verma

June 05, 2024 | 6:31 am

KO

Poppi is facing a class-action lawsuit for allegedly misleading consumers about the health benefits of its prebiotic soda. The lawsuit claims that the prebiotic content in Poppi's drinks is insufficient for the advertised health benefits. Poppi has denied the allegations and plans to defend itself. The lawsuit comes amid a growing market for functional beverages. Coca-Cola was previously rumored to be interested in acquiring Poppi.

Portfolio Pulse from Benzinga Neuro

June 05, 2024 | 4:16 am

GME

MS

Morgan Stanley's E-Trade is reportedly considering a ban on Keith Gill's trading account due to potential stock manipulation after he disclosed a significant position in GameStop. Professional trader Dennis Dick criticized the potential ban, arguing that buying call options is not illegal. Gill's recent social media activity and disclosure of his GameStop position led to a significant increase in GameStop's stock price.

Portfolio Pulse from Aaron Bry

June 04, 2024 | 8:32 pm