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Legal

JPM

JPMorgan Chase & Co. (NYSE:JPM) is facing a $100 million settlement with the CFTC for trade reporting failures. The bank has agreed to acknowledge violations of the agency’s regulations. This follows a previous $348.2 million settlement with U.S. bank regulators for related issues. JPMorgan's CEO, Jamie Dimon, also commented on the potential for a 'hard landing' for the U.S. economy.

Portfolio Pulse from Nabaparna Bhattacharya

May 23, 2024 | 12:59 pm

FXD

LYV

RPG

Live Nation Entertainment Inc (NYSE:LYV) shares are trading lower due to an impending antitrust lawsuit by the U.S. Department of Justice. The lawsuit targets Live Nation's dominance in the ticketing market through its subsidiary Ticketmaster and could lead to the company's breakup. This is part of the Biden administration's broader strategy to tackle monopolistic practices. The news has caused Live Nation's shares to fall by 6.11% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

May 23, 2024 | 12:25 pm

NARI

Inari Medical has filed a patent infringement lawsuit against Imperative Care and Truvic Medical, targeting products including the Symphony Thrombectomy System.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2024 | 12:08 pm

LYV

Live Nation shares are trading lower due to reports suggesting that the DOJ could announce antitrust action against the company.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2024 | 10:40 am

GCT

GigaCloud Technology has responded to a short-seller report by Grizzly Research LLC, stating that the report lacks merit and contains numerous defamatory, selective, inaccurate, incomplete, and misleading statements.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2024 | 10:19 am

LYV

The Department of Justice (DOJ) is expected to announce an antitrust enforcement action against Live Nation, the parent company of Ticketmaster, as soon as Thursday. This action could significantly impact Live Nation's operations as a concert promoter, venue owner, and ticket seller.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2024 | 10:44 pm

MSOS

The article discusses the increasing prevalence of daily cannabis use in the U.S., surpassing daily alcohol consumption for the first time in 2022. It highlights the ongoing legal and regulatory battles surrounding cannabis and hemp, including a significant lawsuit led by David Boies. The U.S. cannabis ETF (MSOS) experienced a 4% drop amid these developments.

Portfolio Pulse from Todd Harrison

May 22, 2024 | 10:09 pm

JPM

JP Morgan Chase is expected to admit wrongdoing as part of a $100 million settlement with the Commodity Futures Trading Commission (CFTC) over trade reporting failures. The settlement could be announced as soon as Wednesday, according to Reuters citing sources.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2024 | 6:58 pm

VMC

Vulcan Materials Co. (VMC) has reportedly rejected a $2 billion offer from the Mexican government for its Caribbean coast assets, according to Mexican President Andres Manuel Lopez Obrador. However, Vulcan stated it was unaware of such a proposal. The company had previously sought protection from the Biden administration.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2024 | 6:32 pm

BMY

SNY

A Hawaii court has ordered Bristol Myers Squibb (NYSE:BMY) and Sanofi (NASDAQ:SNY) to pay over $916 million for failing to warn non-white patients about health risks associated with their blood thinner Plavix. This ruling increases the liability from an earlier $834 million judgment. The companies plan to appeal the decision.

Portfolio Pulse from Vandana Singh

May 22, 2024 | 5:25 pm