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Legal

AAPL

META

MSFT

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SSNLF

George Hotz, known for his iPhone jailbreaks, has switched from Apple's iPhone to Samsung's Galaxy Z Fold 5 due to dissatisfaction with Apple's App Store policies in the EU. Hotz criticized Apple for its handling of progressive web apps (PWA) and its 'tantrum' over app sideloading and alternative payment methods. This criticism aligns with concerns from other tech leaders, including Spotify's CEO Daniel Ek, Epic Games' CEO Tim Sweeney, Meta's Mark Zuckerberg, and Microsoft's Xbox President Sarah Bond, over Apple's App Store practices.

Portfolio Pulse from Rounak Jain

February 21, 2024 | 1:17 pm

META

Meta Platforms Inc. (NASDAQ:META) faces a $3.8 billion lawsuit in the UK over allegations of abusing market dominance and improperly collecting data from users. The lawsuit, initiated by Dr. Liza Lovdahl Gormsen, could affect 45 million people and seeks damages for the commercial use of personal data without adequate compensation. Meta has dismissed the lawsuit as 'entirely without merit.' This legal challenge is among several others Meta has encountered globally, including a recent $725 million settlement in a U.S. privacy case.

Portfolio Pulse from Rounak Jain

February 21, 2024 | 11:53 am

LQDA

UTHR

United Therapeutics has initiated legal action against the FDA for denying its right to delay Liquidia's final approval until its patent infringement claim against Liquidia is resolved. This move underscores a significant patent dispute between United Therapeutics and Liquidia, potentially impacting the market's view on both companies' stock.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 10:59 am

AAPL

The U.S. Supreme Court has ended a 14-year legal battle between Apple and VirnetX by refusing to hear an appeal from VirnetX. This decision means Apple Inc. (NASDAQ:AAPL) will not have to pay $502.8 million in damages previously awarded to VirnetX in 2020 over internet-security patent infringements. The Supreme Court's refusal upholds a lower court's decision to overturn the verdict against Apple and supports the USPTO's invalidation of VirnetX's patents.

Portfolio Pulse from Rounak Jain

February 21, 2024 | 8:25 am

ETH-USD

Rep. Warren Davidson (R-Ohio) has expressed strong opposition to Central Bank Digital Currencies (CBDCs), labeling them as an existential threat to Western civilization. The House Financial Committee approved a bill to prohibit CBDCs, with Davidson emphasizing the need for a full House debate and subsequent adoption of the legislation. Additionally, an amendment has been proposed to prevent federal funds from being used to design, develop, or establish a CBDC. Former President Donald Trump also spoke against CBDCs, promising to never allow their creation.

Portfolio Pulse from Mehab Qureshi

February 21, 2024 | 7:44 am

TSLA

Local citizens near Tesla Inc's Berlin Gigafactory voted against the company's plans to cut trees for expansion, which aims to double the plant's capacity for battery and car production. This non-binding vote presents a significant challenge to Tesla's expansion goals. The decision now rests with local authorities. Tesla's Berlin factory currently has an annual vehicle capacity of 375,000 Model Y SUVs, with recent reports indicating a weekly production of 6,000 Model Y vehicles. In the European Union, Tesla saw a 89% year-on-year increase in new car registrations, totaling 279,042 in 2023.

Portfolio Pulse from Anan Ashraf

February 21, 2024 | 7:41 am

WBD

Warner Bros. Discovery Inc (NASDAQ:WBD), owner of HBO, is delaying the free streaming of 'Last Week Tonight With John Oliver' on YouTube to drive viewership and revenue growth on its streaming platform, Max. This decision contrasts with the previous approach of uploading the show immediately after airing and aims to increase revenue by encouraging viewers to watch on Max, where HBO can monetize the content. The move is part of broader cost-cutting and revenue-increasing strategies following the acquisition of WarnerMedia by Discovery. Additionally, the article mentions a lawsuit filed by FuboTV against Warner Bros. Discovery and others over a joint venture sport-streaming platform.

Portfolio Pulse from Benzinga Neuro

February 21, 2024 | 5:07 am

AAPL

San Diego police have issued a warning to Apple Vision Pro users to prioritize pedestrian safety and avoid using the headset in dangerous scenarios, such as crossing streets. This follows concerns raised by U.S. Transportation Secretary Pete Buttigieg regarding the use of the headset while driving. Despite these safety concerns and reports of early adopters returning the Vision Pro due to quality issues and software bugs, the device is still considered a potential successor to the iPad.

Portfolio Pulse from Ananya Gairola

February 21, 2024 | 3:21 am

PLNT

Christopher Rondeau resigned from the Planet Fitness Board due to disagreements over job cuts, the role of the interim CEO, and the Board's decision-making process. The company had terminated about 9% of its headquarters employees in February 2024 following Rondeau's departure as CEO in September 2023.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 10:59 pm

DIS

FOX

FUBO

WBD

FuboTV Inc. has filed a lawsuit to prevent Fox Corp, Walt Disney Co, and Warner Bros. Discovery Inc from launching a joint venture sport-streaming platform, alleging anti-competitive practices and above-market pricing. The suit claims these companies have historically bundled sports content with less desirable content, forcing consumers to overpay. Following the lawsuit's announcement, shares of Disney, Warner Bros. Discovery, and Fox experienced declines, while FuboTV's shares also dropped.

Portfolio Pulse from Erica Kollmann

February 20, 2024 | 10:47 pm