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Legal

ABNB

Airbnb Inc. (NASDAQ:ABNB) has been fined AU$15 million ($10 million) by an Australian court for misleading Australian customers by displaying prices in U.S. dollars without proper indication, affecting around 63,000 customers from January 2018 to August 2021. The company will also pay AU$400,000 for prosecution costs and may disburse an additional AU$15 million in compensation. Airbnb has since updated its platform to clearly indicate prices in USD.

Portfolio Pulse from Benzinga Neuro

December 21, 2023 | 2:30 am

BCHUSD

BSVUSD

BTCUSD

BTGUSD

The U.S. Court of Appeals has finalized the forfeiture of approximately 69,370 Bitcoin and other cryptocurrencies, valued at over $3.4 billion, from the Silk Road online black market. This ruling concludes the legal battle that began with the 2013 arrest of Silk Road founder Ross Ulbricht. The seized cryptocurrencies have significantly appreciated in value since Ulbricht's arrest. The decision marks a victory for law enforcement in cryptocurrency-related criminal activity and sets a precedent for future digital asset seizures.

Portfolio Pulse from Murtuza Merchant

December 20, 2023 | 11:15 pm

HOOD

After the Department of Justice seized Sam Bankman-Fried's stake in Robinhood Markets Inc (HOOD) in January 2023, the company repurchased the shares in September 2023. An investment of $1,000 in HOOD at the time of the seizure would have yielded a 56.7% return, outperforming the S&P 500's 23.0% return in the same period.

Portfolio Pulse from Chris Katje

December 20, 2023 | 11:05 pm

LQDA

UTHR

The Federal Circuit has affirmed an earlier PTAB decision to invalidate all claims of United Therapeutics' patent No. 10,716,793. Liquidia will seek to lift the injunction imposed by the District Court in Delaware and continue pursuing FDA approval for YUTREPIA.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 9:58 pm

YS

YS Biopharma has issued a response to an unauthorized press release regarding an Extraordinary General Meeting (EGM). The company clarified that Yi Zhang is not the Chairperson of the Board and does not have the authority to call for a shareholders' meeting. The company's Form 6-K filing with the SEC on December 12, 2023, confirms the current Board composition, with Ajit Shetty as the Interim Chairperson, and no EGM scheduled for December 28, 2023.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 9:37 pm

FLNC

Fluence is actively pursuing owed payments and will dispute allegations made in a counterclaim by Diablo Energy Storage, LLC. The counterclaim was a response to Fluence's initial complaint regarding Diablo's failure to fulfill contract terms, including payment. Fluence asserts that their work on the Diablo Plant was satisfactory and expects payment, deeming the counterclaim meritless. They intend to defend against Diablo's claims while enforcing their own.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 9:29 pm

RMD

ResMed (NYSE:RMD) is conducting a voluntary global field action to update instructions and labeling for masks with magnets due to potential interference with certain medical devices like pacemakers. This update follows five reports of serious harm potentially related to magnetic interference. The affected masks are AirFit N10, AirFit F20, AirTouch F20, AirFit N20, AirTouch N20, AirFit F30, and AirFit F30i. No return of masks is required unless a patient is contraindicated. ResMed has notified the FDA and is providing guidance to healthcare providers and patients.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 9:09 pm

LQDA

UTHR

Liquidia Corp (LQDA) stock surged following a favorable ruling in a patent dispute with United Therapeutics Corporation (UTHR) over the '793 patent related to pulmonary hypertension treatment. The panel affirmed the Board's unpatentability determination, which is a positive development for Liquidia. United Therapeutics owns the patent for treprostinil, marketed as Tyvaso, and had initiated Hatch-Waxman litigation against Liquidia's Yutrepia. Despite the tentative FDA approval for Yutrepia, its market release is pending until the litigation and exclusivity period for Tyvaso expire. LQDA's stock price increased by 42.80%, while UTHR's stock fell by 4.39%.

Portfolio Pulse from Vandana Singh

December 20, 2023 | 7:04 pm

BNBUSD

Sen. Roger Marshall revealed that the American Bank Association assisted in drafting the Digital Asset Anti-Money Laundering Act with Sen. Elizabeth Warren. This has caused concern in the crypto community about the banking sector's influence on crypto regulation. Sen. Warren's recent letter to crypto advocacy groups also scrutinizes the industry's hiring of former government officials to oppose regulation. Additionally, Binance CEO Changpeng Zhao pleaded guilty to charges related to transactions with terrorists and criminals.

Portfolio Pulse from Murtuza Merchant

December 20, 2023 | 6:56 pm

UTHR

United Therapeutics' stock (UTHR) is trading lower following a loss in a patent case against Liquidia. The defeat in court suggests potential challenges for United Therapeutics in maintaining exclusivity for its products, which could impact future revenues and market share.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 6:50 pm