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Legal

AAPL

Apple Inc. (AAPL) faced pressure from the Indian government to mitigate the political fallout from iPhone hacking alerts sent to Indian journalists and opposition politicians. The government questioned Apple's threat algorithms and launched a probe into the security of Apple devices. Apple stood firm, defending its evidence-based warnings and emphasizing user privacy protection. The standoff reflects broader global tensions between tech companies and governments over influence and security.

Portfolio Pulse from Rounak Jain

December 28, 2023 | 12:24 pm

TIO

On December 22, Tingo Group announced the resignation of three board members following a complaint by the SEC on December 18, 2023. The SEC has filed fraud charges against Tingo CEO Dozy Mmobuosi and his companies.

Portfolio Pulse from Charles Gross

December 28, 2023 | 11:51 am

CMCSA

GOOGL

IAC

MSFT

NYT

TSLA

The New York Times Co (NYT) has filed a lawsuit against OpenAI and Microsoft Corp. (MSFT) for using copyrighted content without authorization. Chamath Palihapitiya and Gene Munster discussed the potential impact on AI companies, with Palihapitiya warning those without proprietary data. Apple is reportedly spending $50 million to license content for AI training, contacting publishers like Condé Nast and companies such as Comcast Corporation (CMCSA) and IAC Inc. (IAC). Munster believes the lawsuit could reach the Supreme Court but won't significantly slow AI development, predicting a bull market driven by AI in tech.

Portfolio Pulse from Shanthi Rexaline

December 28, 2023 | 11:47 am

TBPH

Theravance Biopharma, through its units Mylan Ireland and Mylan Specialty, has entered into a settlement agreement with Accord Healthcare concerning Yupelri (Revefenacin) Inhalation Solution. As part of the agreement, Accord Healthcare has been granted a license to manufacture and market a generic version of Yupelri in the U.S. starting after April 23, 2039.

Portfolio Pulse from Charles Gross

December 28, 2023 | 11:21 am

SCWX

Secureworks has filed a U.S. patent application (No. 20230421578) for systems and methods related to consensus-driven threat intelligence. This move indicates the company's ongoing efforts to enhance its cybersecurity offerings by developing new technologies to improve threat intelligence and response capabilities.

Portfolio Pulse from Charles Gross

December 28, 2023 | 11:17 am

AORT

TCMD

Sen. Tina Smith's investment in Tactile Systems Technology (TCMD) has yielded a 48% return in two months. Smith, who sits on Senate health committees, bought $250,000 worth of TCMD during a downturn. The company, based in her home state, has secured government contracts. Smith also invested in Artivion (AORT) with profitable results. This raises concerns about Congressional stock trading and supports the 'Ban Congressional Stock Trading Act'.

Portfolio Pulse from Navdeep Yadav

December 28, 2023 | 8:16 am

NEO

NTRA

Natera has secured a preliminary injunction in its patent infringement lawsuit against NeoGenomics, which prevents NeoGenomics from making, using, selling, or promoting its RaDaR MRD assay in the U.S., with some exceptions.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 7:02 am

GM

General Motors Co (GM) has filed a lawsuit against San Francisco seeking a $121 million tax refund for overpaid taxes and penalties, claiming its autonomous vehicle subsidiary, Cruise, should not factor into tax assessments due to its separate operation and minimal sales contribution. GM is looking to recover $108 million in taxes over seven years, plus $13 million in interest and penalties. The lawsuit comes as Cruise faces safety concerns and operational suspensions, with an EBIT-adjusted loss of $732 million reported in the last quarter.

Portfolio Pulse from Anan Ashraf

December 28, 2023 | 6:16 am

TSLA

Elon Musk criticized a media report suggesting a robot 'attacked' an employee at Tesla's Texas gigafactory. The incident, involving a Kuka robot arm, occurred in 2021 and was unrelated to Tesla's humanoid bot Optimus. Musk clarified the robot was a standard industrial arm, not the Optimus, and expressed disappointment over the media's portrayal of the event.

Portfolio Pulse from Anan Ashraf

December 28, 2023 | 6:11 am

UBS

Credit Suisse has been fined $3 million by the Monetary Authority of Singapore for failing to provide accurate post-trade disclosures, resulting in overcharging clients for bond transactions. The bank, now under UBS Group AG's control, has compensated the affected clients and paid the fine. Credit Suisse has also enhanced its policies to prevent future misconduct. This follows a series of financial issues for the bank, including a $4 billion Q2 loss and a money-laundering probe involving Chinese nationals.

Portfolio Pulse from Benzinga Neuro

December 28, 2023 | 6:10 am