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Aliaksandr Klimenka, associated with the defunct BTC-e cryptocurrency exchange, has been arrested and charged by the U.S. DOJ for laundering over $4 billion from criminal activities. His arrest in Latvia and subsequent charges highlight a broader crackdown on illegal cryptocurrency activities, including efforts by U.S. Senator Elizabeth Warren and international actions like Taiwan's new anti-money laundering bill.

Portfolio Pulse from Benzinga Neuro

February 02, 2024 | 3:47 am

TSLA

Elon Musk, CEO of Tesla Inc (NASDAQ: TSLA), has urged companies to change their state of incorporation from Delaware, citing the state's resistance to such changes as seen in the case of John Malone. Musk highlighted Delaware's attempt to prevent Malone from moving to Nevada and suggested companies consider Nevada or Texas instead. This comes after a Delaware judge revoked Musk's $56 billion pay package, leading to Musk's recommendation against incorporating in Delaware. Tesla is considering moving its state of incorporation to Texas, where it is physically headquartered, following a shareholder vote influenced by a Twitter poll.

Portfolio Pulse from Anan Ashraf

February 02, 2024 | 3:05 am

META

Senate Judiciary Committee Chair Dick Durbin criticized Meta Platforms CEO Mark Zuckerberg for downplaying the impact of social media on mental health, comparing him to tobacco executives. Durbin's remarks followed Zuckerberg's statement denying a causal link between social media use and negative mental health outcomes. The criticism comes amid a Senate hearing on child safety online, where social media executives were questioned. Despite the controversy, Meta Platforms reported a 25% year-over-year increase in fourth-quarter revenue to $40.11 billion, beating estimates and causing its stock to surge 15.22% in after-hours trading.

Portfolio Pulse from Navdeep Yadav

February 02, 2024 | 2:24 am

AAPL

MASI

Apple Inc. (AAPL) CEO Tim Cook announced the company's intention to appeal the ban on its Apple Watch, rather than settle with Masimo Corp. (MASI) over a patent dispute involving the blood oxygen feature. Despite the ban, Apple continues to sell the Apple Watch Series 9 and Ultra 2 in the U.S. without the disputed feature. The company reported higher than expected revenue in its Wearables, Home, and Accessories category for fiscal Q1 2024, indicating that the dispute and ban have not significantly impacted sales. Masimo's CEO Joe Kiani expressed openness to a settlement but noted the lack of serious discussions with Apple.

Portfolio Pulse from Ananya Gairola

February 02, 2024 | 1:38 am

TSLA

The UK High Court dismissed a lawsuit by former US President Donald Trump against Orbis Business Intelligence over a dossier linking Trump to Russia. The court ruled the claim was out of the six-year limitation period. Orbis, led by ex-MI6 officer Christopher Steele, expressed satisfaction with the verdict, viewing the lawsuit as an attempt to exact revenge and chill free speech. The dossier, funded by Hillary Clinton's Democrats, contained unverified allegations against Trump and was leaked before his inauguration. Another lawsuit by Trump against Orbis and others was dismissed in Florida in 2022.

Portfolio Pulse from Benzinga Neuro

February 02, 2024 | 12:33 am

DIS

Walt Disney (DIS) has publicly stated that its Board of Directors does not endorse the nominees from Trian Group and Blackwells, arguing that these nominees lack the necessary skills and expertise to support Disney's efforts in driving profitable growth and shareholder value amidst industry challenges.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 10:13 pm

ALLR

NVS

Allarity Therapeutics received a notice from Novartis on Jan 26 to terminate their agreement on Dovitinib due to a material breach for lack of financial payment, as disclosed in an 8-K filing.

Portfolio Pulse from Charles Gross

February 01, 2024 | 9:52 pm

AEY

Addvantage Technologies Group announced that the company and its subsidiaries ceased operations on January 26, 2024, according to an SEC filing. This cessation of operations marks a significant development for the company.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 8:02 pm

FTTUSD

Genesis Global Holdco, a subsidiary of Digital Currency Group and currently in bankruptcy, has agreed to a $21M settlement with the SEC over a lawsuit concerning its lending program. The settlement, resulting from extensive negotiations, aims to resolve the SEC's civil action claim in Genesis's Chapter 11 cases, thereby avoiding the costs and uncertainties of prolonged litigation. This agreement follows Genesis's financial troubles, which began in January 2022 after the collapses of Three Arrows Capital and FTX, leading to its bankruptcy.

Portfolio Pulse from Murtuza Merchant

February 01, 2024 | 7:34 pm

GSK

GSK Plc (NYSE:GSK) resolved a U.S. lawsuit related to its heartburn medicine Zantac, avoiding a trial in California. The settlement with plaintiff David Browne was confidential, with no admission of liability by GSK. This follows a similar settlement in October and the resolution of three breast cancer bellwether cases in California. GSK's recent performance and vaccine launches have been positive, despite past issues with Zantac, which was pulled from the market in 2020 due to carcinogenic concerns. GSK shares rose 2.94% to $40.60.

Portfolio Pulse from Vandana Singh

February 01, 2024 | 7:19 pm