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Legal

BLKB

Blackbaud has reached a settlement with the FTC concerning a 2020 security incident. The settlement does not involve any fines or required payments from Blackbaud, and the company has neither admitted nor denied the FTC's allegations.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 1:58 pm

TSLA

A Delaware court has voided Elon Musk's $56 billion compensation plan at Tesla Inc. (NASDAQ:TSLA), prompting activist investors to push for corporate governance reforms. These reforms aim to reduce Musk's influence by advocating for changes such as director term lengths and voting thresholds for new bylaws. The ruling has sparked discussions about Tesla's future governance and compensation practices.

Portfolio Pulse from Benzinga Neuro

February 02, 2024 | 1:41 pm

BTI

PM

Philip Morris International (PM) and British American Tobacco (BTI) have reached a global patent settlement concerning their heated tobacco and vapor products. This agreement resolves all ongoing patent litigation between the two companies, allowing them to focus on the development and marketing of reduced-risk products.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 12:08 pm

PUBGY

Publicis Groupe SA (OTC:PUBGY) has agreed to a $350 million settlement over its alleged role in the opioid crisis, marking the first time an advertising firm has been held accountable in this context. The settlement, led by the New York and Colorado Attorneys General, involves eight other states and prohibits Publicis from taking on any future opioid-related projects. Publicis was accused of aiding Purdue Pharma in overprescribing opioids through misleading marketing campaigns.

Portfolio Pulse from Benzinga Neuro

February 02, 2024 | 11:21 am

AAPL

Apple disclosed in its 10-Q filing that Epic intends to dispute Apple's compliance plan in court on January 31, 2024. This legal challenge could impact Apple's operations and investor sentiment.

Portfolio Pulse from Charles Gross

February 02, 2024 | 11:07 am

AAPL

META

MSFT

SPOT

Meta Platforms Inc. (META), Microsoft Corp. (MSFT), Spotify Technology SA (SPOT), and Epic Games criticize Apple Inc.'s (AAPL) Alternative App Store proposal for the EU, citing high costs and non-compliance with the EU's Digital Markets Act. Zuckerberg, alongside other tech leaders, believes the proposal is at odds with the intent of EU regulation and burdensome for developers.

Portfolio Pulse from Rounak Jain

February 02, 2024 | 11:01 am

TSLA

Kim Dotcom claimed that the revocation of Elon Musk's $56 billion pay package by a Delaware judge is part of a campaign by the Biden government against Musk. Musk responded, acknowledging tough battles ahead. The judge ruled in favor of a Tesla shareholder who alleged fiduciary breaches in awarding Musk's pay package. Dotcom faces extradition to the U.S. over charges related to his site Megaupload.

Portfolio Pulse from Anan Ashraf

February 02, 2024 | 10:59 am

TSLA

Tesla is conducting a recall of 2,193,869 vehicles in the United States, as reported by Reuters citing the National Highway Traffic Safety Administration (NHTSA).

Portfolio Pulse from Charles Gross

February 02, 2024 | 10:25 am

GOOGL

Google's AI language model, Bard, now supports over 40 languages and is available in 230 countries with new features including image generation. Recognized as a top-performing AI by the Large Model Systems Organization, Bard's expansion and new capabilities like the enhanced double-check feature and responsible image generation aim to increase accessibility and collaboration globally. This development is crucial as Google faces a $7 billion lawsuit over AI technology patent infringement, which could significantly affect its AI advancements.

Portfolio Pulse from Benzinga Neuro

February 02, 2024 | 9:53 am

XOM

Exxon Mobil Corporation (NYSE:XOM) is set to release its Q4 earnings on Feb. 2, 2024, with analysts predicting a decrease in earnings per share from $3.4 to $2.21 and a drop in revenue from $95.43 billion to $85.23 billion year-over-year. Additionally, Exxon Mobil has initiated legal action to prevent a climate proposal from being voted on at its shareholder meeting. Shares fell 0.4% to $102.39. Analysts have revised their ratings and price targets, with changes including upgrades and downgrades.

Portfolio Pulse from Avi Kapoor

February 02, 2024 | 7:10 am