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Legal

DIS

The Walt Disney Co. has settled its litigation with the Central Florida Tourism Oversight District, overseen by a board selected by Governor Ron DeSantis. This settlement, which pertains to Disney's Florida theme park properties, aims to foster a new chapter of constructive engagement, allowing for continued investment and job creation in Florida. However, Disney's separate litigation against DeSantis, concerning First Amendment rights violations over control of the theme park district, remains unresolved.

Portfolio Pulse from Happy Mohamed

March 27, 2024 | 3:28 pm

CEIX

CSX

F

GM

RCL

TSLA

The collapse of the Francis Scott Key Bridge, impacting the Port of Baltimore, has caused Tesla, Ford, and GM to seek alternative shipping routes. Ford anticipates a significant impact, while GM expects minimal disruption. European carmakers and cruise operators also anticipate adjustments, with Carnival Corporation forecasting a $10 million negative impact. Coal exporters and rail freight services face challenges, with Consol Energy and CSX Corporation noting potential operational impacts.

Portfolio Pulse from Neil Dennis

March 27, 2024 | 3:07 pm

COIN

A U.S. court has largely ruled against Coinbase Inc. (NASDAQ:COIN) in its motion to dismiss an SEC lawsuit alleging unregistered securities activity. The SEC's lawsuit, filed in June 2023, accuses Coinbase of operating as an unregistered securities dealer in its exchange functionality and staking program. While the court dismissed claims regarding Coinbase's wallet service, it agreed with the SEC that Coinbase's exchange and staking activities could constitute unregistered securities offerings. Coinbase's Chief Legal Officer, Paul Grewal, stated the company is prepared for this outcome and emphasized the need for comprehensive digital assets legislation in the U.S.

Portfolio Pulse from Murtuza Merchant

March 27, 2024 | 3:03 pm

CVS

WBA

The U.S. Supreme Court appears unlikely to restrict access to the abortion pill, focusing on the legal standing of anti-abortion groups challenging FDA regulations on mifepristone. The case, significant for abortion rights, questions the FDA's approval process and its implications for drug regulation. CVS Health Corp and Walgreens Boots Alliance Inc have announced plans to dispense mifepristone, aligning with FDA guidelines.

Portfolio Pulse from Vandana Singh

March 27, 2024 | 2:53 pm

COIN

Coinbase shares dropped following a US court decision that permits an SEC lawsuit to proceed, alleging Coinbase's involvement in the unregistered offer and sale of securities.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 2:30 pm

COIN

A judge has dismissed the SEC's claim that Coinbase operated as an unregistered broker through its wallet application, according to a Reuters report citing the ruling.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 1:50 pm

AAPL

Privacy expert Albert Fox Cahn criticized Apple's Vision Pro as a 'buggy beta test,' raising concerns over surveillance and lack of compatibility with non-Apple devices. Despite its $3,500 price, it's seen more as a toy than a tool. The device's launch has mixed reviews, with some seeing potential in specific fields like medicine.

Portfolio Pulse from Rounak Jain

March 27, 2024 | 1:50 pm

COIN

The court has partially granted and denied Coinbase's motion for judgment on the pleadings in the SEC vs. Coinbase case. The SEC's allegations that Coinbase operates as an exchange, broker, and clearing agency, and offers unregistered securities through its Staking Program, have been upheld. However, the court granted Coinbase's motion regarding some of the SEC's claims.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 1:44 pm

JACK

The SEC has alleged that four minor league baseball players engaged in insider trading ahead of Jack In The Box Inc's acquisition of Del Taco Restaurants Inc, making approximately $190,000. The lawsuit, filed in San Diego, claims the players traded on confidential information about the $575 million deal. Jack In The Box, which completed the acquisition in 2021, has not been charged with wrongdoing. The SEC seeks to recover profits and impose fines on the players.

Portfolio Pulse from Shivani Kumaresan

March 27, 2024 | 12:53 pm

MRNS

Marinus Pharmaceuticals is defending its patent for ganaxolone in treating status epilepticus against a challenge by Ovid Therapeutics. The challenge, filed on March 26, 2024, targets U.S. Patent 11,110,100. Marinus holds multiple patents for ganaxolone's use in SE and RSE treatment.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 12:43 pm