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Legal

TCNNF

Florida Governor Ron DeSantis expressed concerns about the proposed recreational cannabis legalization measure in Florida, emphasizing the need for more restrictive regulations, particularly regarding public consumption near schools. The measure, led by Smart & Safe Florida and funded by Trulieve Cannabis Corp. (OTCQX:TCNNF), has been challenged in the Florida Supreme Court by Attorney General Ashley Moody. Despite the legal challenges, a recent poll shows strong voter support for legalization. Meanwhile, Florida lawmakers have approved a bill imposing THC content restrictions on hemp extracts.

Portfolio Pulse from Nina Zdinjak

March 11, 2024 | 2:23 pm

ABNB

Airbnb announced a global ban on indoor security cameras in its listings, effective April 30. Previously, cameras were permitted if disclosed in the listing. The policy change, influenced by feedback from guests, hosts, and privacy experts, aims to address privacy concerns. Outdoor cameras and doorbell cameras are still allowed if disclosed. Violations could lead to listing or account removal. The decision reflects the ongoing debate between hosts who view cameras as essential for property protection and guests concerned about privacy.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 2:17 pm

META

Donald Trump expressed concerns in a CNBC interview that banning TikTok could empower Meta's Facebook, labeling it as 'enemy of the people'. He acknowledged national security and data privacy issues with TikTok but feared its absence would benefit Facebook. Trump's stance contrasts with President Biden's willingness to sign a bill banning TikTok due to national security concerns. Trump previously attempted to force TikTok's divestiture or removal, citing similar concerns.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 2:06 pm

LUMN

Lumen Technologies, Inc. (NYSE:LUMN) has initiated a consent solicitation to amend indentures and facilitate the completion of transactions under a previously disclosed transaction support agreement (TSA). The company aims to close the TSA transactions by the end of the month, pending the satisfaction of remaining conditions. Guggenheim Securities, LLC and Wachtell, Lipton, Rosen & Katz are advising Lumen on the TSA.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 1:16 pm

JRVR

James River Group Holdings, Ltd. (NASDAQ:JRVR) has initiated litigation against Fleming Intermediate Holdings to enforce the completion of the acquisition of JRG Reinsurance Company Ltd. as per the Stock Purchase Agreement dated November 8, 2023. Fleming, backed by Altamont Capital Partners, has refused to close the transaction, demanding material changes to the terms. James River seeks expedited relief to compel Fleming to fulfill its obligations under the agreement.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 1:08 pm

FISI

Financial Institutions, Inc. (FISI) reported that its subsidiary, Five Star Bank, has discovered fraudulent activity related to deposit transactions. The company plans to pursue all available recovery sources to mitigate potential losses, as disclosed in an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 12:19 pm

RCM

R1 RCM Inc. (NASDAQ:RCM) has formed a special committee to evaluate strategic alternatives following a Schedule 13D/A filing by New Mountain Capital. The committee, consisting of independent directors, aims to enhance stockholder value and will review communications from New Mountain Capital. R1 remains committed to delivering high-quality revenue cycle solutions to its clients. No timeline or outcome assurances were provided, and R1 will not comment further until a decision is made.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 12:11 pm

DWAC

The Delaware Court cleared the way for Digital World Acquisition Corp. (DWAC) and Trump Media & Technology Group Corp. (TMTG) to hold a merger vote, despite a legal challenge from United Atlantic Ventures. The court decided not to block the stockholder vote scheduled for March 22, 2024, on the proposed business combination, where TMTG will become a wholly owned subsidiary of Digital World. The court also directed TMTG and UAV to submit a proposed stipulated escrow order for any additional shares issued by TMTG before the merger.

Portfolio Pulse from Happy Mohamed

March 11, 2024 | 11:57 am

CLAR

Clarus Corporation has initiated legal action against Caption Management LLC, Caption Partners II LP, Caption GP, LLC, William Cooper, and Jason Strasser, aiming to recover profits gained from short-swing transactions. The lawsuit seeks to address and rectify the financial gains achieved by the defendants through these transactions, which Clarus Corporation deems to have been improperly obtained.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 11:29 am

AMPY

Amplify Energy announced confidence that a Southern California oil sheen is not related to its operations, stating its Beta field operations and development program remain undisrupted.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 11:27 am