Streetbeat News

Legal

CHEK

Check-Cap Ltd. received a termination notice from Keystone Dental regarding their previously agreed business combination. The agreement, dated August 16, 2023, involved Keystone, Capstone Dental Pubco, Capstone Merger Sub Ltd, and Capstone Merger Sub Corp.

Portfolio Pulse from Benzinga Newsdesk

December 29, 2023 | 2:02 pm

BTI

British American Tobacco Industries Plc (NYSE:BTI) was fined $110 million by the Nigerian Federal Competition & Consumer Protection Commission for violating competition laws and tobacco control efforts. This record fine is a result of a probe into BAT's practices, including impeding competitors and breaching health controls. The fine is a 'consent order' and not subject to appeal. BAT is also expected to incur a non-cash impairment charge of about £25 billion related to U.S. cigarette brands and anticipates 2023 organic revenue at the lower end of 3%-5% guidance. BTI shares saw a slight increase in premarket trading.

Portfolio Pulse from Vandana Singh

December 29, 2023 | 1:48 pm

CC

CTVA

DD

MMM

In 2023, lawsuits over PFAS contamination in U.S. drinking water led to over $11 billion in settlements involving 3M Co (MMM), The Chemours Co (CC), Corteva Inc (CTVA), and DuPont de Nemours Inc (DD). The litigation, which is expected to increase due to upcoming federal regulations and heightened awareness, poses a significant threat to these companies, with potential for more lawsuits in 2024 and existential risks including bankruptcy.

Portfolio Pulse from Vandana Singh

December 29, 2023 | 1:43 pm

AIM

AIM ImmunoTech announced that the Delaware Court has ruled in favor of the company, upholding the board's decision that the nominations made by an activist group are invalid. This legal victory supports the current board's authority and may impact the company's governance and future direction.

Portfolio Pulse from Benzinga Newsdesk

December 29, 2023 | 1:07 pm

HNRG

PVL

SJT

The article highlights three energy stocks that are considered oversold based on their Relative Strength Index (RSI) values, suggesting they may be undervalued and poised for a potential rebound. San Juan Basin Royalty Trust (SJT), Hallador Energy Company (HNRG), and Permianville Royalty Trust (PVL) are identified as major oversold players in the energy sector with RSI values near or below 30. SJT recently settled with Hilcorp for $1.04 million, HNRG reported downbeat quarterly earnings despite high coal sales prices, and PVL provided a monthly operational update.

Portfolio Pulse from Avi Kapoor

December 29, 2023 | 11:52 am

HUT

Hut 8 Mining Corp. has received court approval to continue with its full mining operations plan amid the bankruptcy proceedings of Celsius Network LLC. This development is significant for Hut 8 as it allows the company to maintain its mining activities, which are central to its business model.

Portfolio Pulse from Benzinga Newsdesk

December 29, 2023 | 11:36 am

GOOG

GOOGL

Alphabet Inc's Google (GOOG, GOOGL) has reached a preliminary settlement in a privacy lawsuit, halting the trial set for February 5. The lawsuit accused Google of tracking users' online activities even in 'Incognito' mode, seeking $5 billion in damages. Details of the settlement are undisclosed, but a formal settlement is expected by February 24, 2024.

Portfolio Pulse from Benzinga Neuro

December 29, 2023 | 6:39 am

AAPL

MASI

Apple Inc. is attempting to bypass a ban on its Apple Watch Series 9 and Ultra 2 models by developing new software to address patent infringement issues with Masimo Corp. The ITC had imposed the ban, which Apple is appealing, and the new software has been submitted to U.S. customs for approval, potentially allowing sales to resume as early as January 12. Apple has also obtained a provisional stay, allowing sales at U.S. retail stores and online.

Portfolio Pulse from Benzinga Neuro

December 29, 2023 | 4:43 am

DWAC

SPY

The Maine Secretary of State has ruled that former President Donald Trump is ineligible to appear on the 2024 ballot. This decision could have implications for Trump's political future and may influence investor sentiment regarding related assets.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 11:59 pm

LUNA

A U.S. federal judge ruled in favor of the SEC in a case against Terraform Labs and its founder Do Kwon, concerning the offering and sale of unregistered securities. The court did not grant summary judgment on fraud accusations, with a trial set for January 29, 2024. Terraform and Kwon are charged with misleading investors about the stability of TerraUSD and the potential value increase of their crypto tokens. Kwon also faces fraud allegations from U.S. prosecutors and is contesting extradition to the U.S.

Portfolio Pulse from Murtuza Merchant

December 28, 2023 | 11:55 pm