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Legal

BLUE

Bluebird Bio, Inc. (BLUE) announced it will restate its financial statements for 2022 and the first three quarters of both 2022 and 2023 due to issues related to the identification of embedded leases and the treatment of non-lease components in agreements with contract manufacturers. This restatement will be reflected in its Form 10K for 2023.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 11:09 am

ACI

KR

A Colorado court has scheduled a hearing for mid-August to discuss the proposed acquisition of Albertsons Companies Inc (NYSE:ACI) by Kroger Company (NYSE:KR). This hearing precedes a U.S. government antitrust challenge. The FTC is attempting to block the merger, with a trial set for the end of August in Oregon. Kroger's representative mentioned a potential enhanced divestiture package with C&S Wholesale Grocers Inc to address concerns. The merger faces legal and financing challenges, with an outside date of Oct. 9. KR shares slightly dropped in premarket trading.

Portfolio Pulse from Shivani Kumaresan

March 26, 2024 | 10:52 am

BA

EADSY

Jeffrey Sonnenfeld criticized Boeing CEO Dave Calhoun's handling of the company's crises, suggesting Calhoun should have no role in choosing his successor. Boeing faces scrutiny after safety failures, leading to Calhoun's resignation announcement. Airbus CEO expressed concerns over the negative impact of Boeing's issues on the aerospace industry.

Portfolio Pulse from Benzinga Neuro

March 26, 2024 | 8:43 am

AAPL

A SWAT team raided a family's home in Ferguson, Missouri, based on Apple Inc.'s 'Find My' app tracking stolen AirPods to their location. The AirPods were found outside the home, leading to a lawsuit against the police for lack of probable cause and violation of rights. This incident raises concerns about the accuracy of the 'Find My' feature and its potential misuse by law enforcement.

Portfolio Pulse from Ananya Gairola

March 26, 2024 | 8:41 am

AAPL

Tim Cook's recent visit to China signifies Apple Inc.'s commitment to the region amidst declining sales and increasing regulatory pressures, including a DOJ lawsuit. The opening of Apple's largest store in Shanghai and meetings with key suppliers underscore the company's strategy to strengthen its presence in China despite geopolitical tensions and attempts to diversify its supply chain. Analysts view this move as crucial for Apple's future in China, where iPhone sales have dropped significantly.

Portfolio Pulse from Rounak Jain

March 26, 2024 | 8:10 am

GOOGL

META

SNAP

Chamath Palihapitiya, a billionaire tech investor, supports government regulation of social media for teenagers, citing mental health benefits. This follows Florida's new law banning social media use for children under 14 and requiring parental permission for ages 14 to 15. The law, supported by Governor Ron DeSantis, could influence other states and impact tech companies like Meta Platforms, Alphabet, and Snap.

Portfolio Pulse from Benzinga Neuro

March 26, 2024 | 4:28 am

DWAC

Former U.S. President Donald Trump's claims about not listing his company, Trump Media & Technology Group, on the New York Stock Exchange (NYSE) due to harsh treatment in New York have been criticized as nonsensical. Experts highlight that Trump's company is being listed on the Nasdaq, subject to the same New York laws. Despite Trump's criticism of NYSE officials and New York legal authorities, the NYSE expressed openness to listing his company. Trump's social media company, Truth Social, is set to trade on the Nasdaq through a merger with Digital World Acquisition Corp (NASDAQ:DWAC), potentially enriching Trump by $3 billion.

Portfolio Pulse from Benzinga Neuro

March 26, 2024 | 1:50 am

CSIQ

MAXN

Maxeon Solar Technologies has filed a patent infringement lawsuit against Canadian Solar, accusing the latter of infringing on Maxeon's patents related to TOPCon technology. This legal action could potentially impact the operations and financial performance of both companies, depending on the outcome.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 8:17 pm

OPGN

OpGen, Inc. (NASDAQ:OPGN) announced a $3M acquisition of 3M shares of Series E Convertible Preferred Stock by David Lazar, who will also take over as CEO. The proceeds will be used to settle outstanding liabilities and for general corporate purposes. Lazar's investment and his appointment, along with new board members, aim to explore strategic options to enhance shareholder value. The company also settled its outstanding liabilities with the European Investment Bank and Curetis GmbH.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 8:10 pm

FENY

LTL

META

SNAP

SOCL

XLC

Florida's new law bans social media use for children under 14 and requires ID checks for all users, impacting companies like Meta (META) and Snap (SNAP), and tech ETFs such as SOCL, XLC, FENY, and LTL. The law, effective Jan. 1, 2025, aims to combat addiction and mental health issues among teens. Critics argue it infringes on First Amendment rights and necessitates invasive data collection. NetChoice, representing Big Tech, is expected to challenge the law.

Portfolio Pulse from Natan Ponieman

March 25, 2024 | 8:01 pm