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Legal

AAPL

On April 23, 2024, the U.S. District Court for the Northern District of California granted preliminary approval for the proposed settlement of consolidated derivative lawsuits against Apple Inc. These lawsuits are related to Apple's stockholder derivative litigation.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 8:41 pm

GDNSF

VRNOF

Goodness Growth Holdings, Inc. (GDNSF) has initiated legal action against Verano Holdings, Inc (VRNOF) over the latter's termination of a share exchange agreement initially set for Goodness Growth's acquisition. The dispute, centered on a $413M deal terminated by Verano in October 2022, has escalated to Goodness Growth seeking $860.9M in damages for alleged breach of contract. Goodness Growth has applied for summary determination in the Supreme Court to expedite the case, emphasizing the litigation's importance for the company's future, particularly in New York and Minnesota.

Portfolio Pulse from Rolando García

May 03, 2024 | 8:00 pm

EIS

ISRA

SPY

USO

Hamas has expressed a strong determination to reach a truce agreement that meets the demands of the Palestinians. The group highlighted its positive spirit in considering the ceasefire proposal and plans to continue with the same spirit in Cairo to reach an agreement, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 7:58 pm

FMAO

Farmers & Merchants Bancorp, Inc. (NASDAQ:FMAO) announced Andrew Briggs as the new Chairman of the Board, succeeding Jack Johnson who is retiring due to age requirements. Briggs, with over 40 years in banking and significant community involvement, brings a wealth of experience to FMAO. The company highlights its succession planning and board renewal efforts, with over half of the current board members having joined since 2016. Lars Eller, CEO, praised both Briggs' appointment and Johnson's contributions.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 7:17 pm

AMRX

Amneal Pharmaceuticals Inc (NASDAQ:AMRX) announced a settlement over $270 million to resolve U.S. opioid crisis-related lawsuits. The settlement includes $92.5 million in cash and $180 million in naloxone nasal spray, spread over ten years. This agreement aims to settle a significant portion of the over 900 opioid-related lawsuits against Amneal. Additionally, Amneal reported a Q1 adjusted EPS of $0.14, beating the consensus of $0.09, and sales of $659.2 million, up 8% from the previous year. The company reaffirms its FY 2024 revenue guidance of $2.55 billion-$2.65 billion and an adjusted EPS of $0.53-$0.63.

Portfolio Pulse from Vandana Singh

May 03, 2024 | 6:43 pm

TD

TD Bank's stock is trading lower due to a report about the Justice Department investigating its internal controls related to a money laundering and drug trafficking case.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 6:12 pm

SPY

U.S. Democratic Representative Henry Cuellar has been indicted on charges of conspiracy and bribery, according to a court filing. The news may have implications for market sentiment, particularly in sectors sensitive to political and regulatory developments.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 5:57 pm

CACI

CACI International announced that the U.S. District Court declared a mistrial in the Al Shimari case due to the jury's inability to reach a unanimous decision on any claims. No date for a retrial has been set.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 5:27 pm

NTDOY

Nintendo ADR (OTC:NTDOY) has issued a DMCA takedown request for over 8,500 copies of the Yuzu emulator code on GitHub, following a lawsuit settlement with Yuzu's owners for $2.4 million. This action is part of Nintendo's ongoing efforts to protect its intellectual property, including previous legal actions against other emulator creators and platforms hosting illegal copies of its games.

Portfolio Pulse from Franca Quarneti

May 03, 2024 | 5:00 pm

DJT

Trump Media & Technology Group Corp. (NASDAQ:DJT) shares fell after the SEC charged its audit firm, BF Borgers CPA PC, and its owner with 'massive fraud' for failing PCAOB standards in over 1,500 SEC filings from Jan 2021 to Jun 2023. The firm agreed to a $12 million penalty, and its owner to $2 million, with both receiving permanent suspensions. This raises concerns about the accuracy of Trump Media's financial reports. CEO Devin Nunes has accused brokerage firms of stock manipulation, urging House GOP leaders to investigate.

Portfolio Pulse from Nabaparna Bhattacharya

May 03, 2024 | 4:04 pm