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Legal

MMAT

Meta Materials Inc. (NASDAQ:MMAT) has concluded its investigation into naked short selling and market manipulation, finding meritorious claims against several parties. The company plans to share findings with regulatory agencies and file legal proceedings.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 8:16 pm

VFS

The U.S. International Trade Commission (ITC) has initiated a patent investigation requested by ArcelorMittal concerning certain aluminum automotive products. This probe could impact companies involved in the production and distribution of these products.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 7:28 pm

AKTS

JAGX

MIRA

MMV

NKGN

SOHU

VIRI

U.S. stocks traded mixed with the Dow Jones falling over 150 points. Sohu.com reported a Q1 loss, missing analyst estimates. NKGen Biotech, MIRA Pharmaceuticals, and MultiMetaVerse Holdings saw significant stock price increases, while Virios Therapeutics, Akoustis Technologies, and Jaguar Health experienced sharp declines.

Portfolio Pulse from Avi Kapoor

May 20, 2024 | 6:31 pm

AZN

PBYI

PFE

A Delaware federal jury has ruled that AstraZeneca (NASDAQ: AZN) must pay Pfizer (NYSE: PFE) $107.5 million for patent infringement related to the cancer drug Tagrisso. The case is ongoing with further trials scheduled. AstraZeneca also announced plans for a $1.5 billion manufacturing facility in Singapore.

Portfolio Pulse from Vandana Singh

May 20, 2024 | 6:18 pm

GSK

GSK is facing a whistleblower lawsuit from Valisure, a lab that exposed risks associated with the drug Zantac. The lawsuit claims that GSK hid these risks while the U.S. government continued to pay for the drug. The case will be represented by Wisner and Moore.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 5:53 pm

BMWYY

LEA

VWAGY

BMW Group imported over 8,000 Mini Cooper vehicles into the U.S. containing banned Chinese components. The company has ceased importing the affected products and will replace the parts. The Uyghur Forced Labor Prevention Act (UFLPA) law aims to curb imports produced with forced labor from China’s Xinjiang region. Lear Corp informed BMW, Jaguar Land Rover, Volvo, and Volkswagen about the banned components. Volkswagen confirmed holding several thousand vehicles at U.S. ports due to the issue.

Portfolio Pulse from Shivani Kumaresan

May 20, 2024 | 5:11 pm

ABUS

PFE

Genevant Sciences and Arbutus Biopharma have won the dismissal of a legal action by Acuitas Therapeutics, which is partnered with Pfizer on vaccine delivery systems. The action sought a declaratory judgment that Pfizer's Comirnaty vaccine does not infringe on Arbutus patents.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 4:52 pm

SPY

U.S. Secretary of State Blinken has stated that the U.S. fundamentally rejects the International Criminal Court (ICC) warrants, which could jeopardize ongoing ceasefire talks.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 4:33 pm

AKTS

Akoustis Technologies Inc (NASDAQ:AKTS) shares plummeted by 48% to $0.19 after a jury ruled in favor of Qorvo Inc in a lawsuit, ordering Akoustis to pay $38.6 million in damages. The verdict has created financial uncertainty for Akoustis, potentially impacting their ability to raise capital and continue operations, and may lead them to consider bankruptcy protection.

Portfolio Pulse from Henry Khederian

May 20, 2024 | 4:11 pm

AKTS

JAGX

MMV

NKGN

REKR

VIRI

WIX

U.S. stocks traded higher with the Nasdaq Composite gaining over 100 points. Wix.com shares surged 24% following strong Q1 results. NKGen Biotech, Rekor Systems, and MultiMetaVerse Holdings also saw significant gains. Virios Therapeutics, Akoustis Technologies, and Jaguar Health experienced notable declines.

Portfolio Pulse from Avi Kapoor

May 20, 2024 | 4:03 pm