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Legal

HUGE

GBB Drink Lab. Inc's lawsuit against FSD Pharma (NASDAQ:HUGE) for violating a Non-Disclosure Agreement and attempting to launch GBB's product without permission will proceed, as a federal court has refused to dismiss the case. The court recognized the economic value of GBB's trade secrets and the impact of FSD Pharma's actions on potential investors.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 6:17 pm

EBAY

eBay Inc. has agreed to pay a $3 million criminal penalty for a 2019 cyberstalking campaign against a Massachusetts couple and for obstructing the subsequent investigation. eBay was charged with stalking and obstruction of justice, and has entered into a deferred prosecution agreement. The company admitted to the facts and will have a corporate compliance monitor for three years. Seven former eBay employees or contractors were convicted, with sentences ranging from home confinement to 57 months in federal prison.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 5:43 pm

ACI

KR

Washington State is preparing to file a lawsuit to prevent the merger between Kroger Co. and Albertsons Companies Inc. The state's action adds to the regulatory challenges the deal may face, as it could potentially reduce competition in the grocery sector.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 5:23 pm

META

MTCH

QQQ

WMT

Meta Platforms Inc (META) is criticized by Walmart Inc (WMT) and Match Group Inc (MTCH) for placing their ads next to content sexualizing underage users on Facebook and Instagram. Match Group's CEO contacted Meta's CEO directly, and Walmart demanded immediate action. The issue follows a report on Instagram's algorithms promoting a 'vast pedophile network.' Meta is facing legal challenges and internal concerns over encryption potentially hindering the detection of child abuse. META stock is up 0.05% premarket.

Portfolio Pulse from Anusuya Lahiri

January 11, 2024 | 4:52 pm

LLY

NVO

PFE

The FDA is currently assessing reports of suicidal thoughts or actions in patients using GLP-1 receptor agonists, a class of medications for diabetes and obesity. Their preliminary evaluation has not established a causal link between the use of these medicines and the onset of suicidal thoughts.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 4:08 pm

ARAV

Aravive, Inc. has filed a U.S. patent application for methods of treating metastatic cancers using AXL decoy receptors. The patent application number is 20240009271. This could potentially enhance Aravive's intellectual property portfolio and strengthen its position in cancer treatment research.

Portfolio Pulse from Charles Gross

January 11, 2024 | 3:39 pm

AMZN

SBGI

Diamond Sports, operating under Bally's name and owning rights to various sports teams, is in bankruptcy and negotiating a streaming deal with Amazon for MLB rights. A judge extended the negotiation period, delaying a hearing to January 19. Diamond's senior lenders support a plan to wind down operations after 2024, while junior lenders led by Prudential aim to keep the company afloat. The junior lenders are also in talks with Sinclair Broadcasting over a lawsuit.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 3:33 pm

MNMD

Mind Medicine has filed a U.S. patent application (No. 20240010628) for the methods of manufacture of R-MDMA. This filing could potentially strengthen the company's intellectual property portfolio and provide a competitive edge in the development of therapeutic products based on R-MDMA.

Portfolio Pulse from Charles Gross

January 11, 2024 | 3:16 pm

SAP

SAP SE (NYSE:SAP) has agreed to pay over $220 million to settle U.S. DOJ and SEC investigations for FCPA violations involving bribery in Indonesia and South Africa. The company entered a three-year deferred prosecution agreement and will release Q4 earnings on January 24, 2024. SAP shares are up by 0.55% at $156.70.

Portfolio Pulse from Lekha Gupta

January 11, 2024 | 3:13 pm

SCHW

Arkansas Representative French Hill sold Charles Schwab (NYSE:SCHW) stock valued between $50,001 and $100,000 on January 10, 2024. The sale was reported in a Periodic Transaction Report. While Congressional transactions can be a consideration for investors, they are not a primary factor for investment decisions. The STOCK Act prohibits Congress members from using non-public information for personal gain in stock transactions.

Portfolio Pulse from Benzinga Insights

January 11, 2024 | 3:05 pm