Streetbeat News

Legal

TSLA

The SEC is seeking sanctions against Elon Musk for failing to appear for depositions related to a probe into potential securities fraud involving Tesla shares and Twitter. Musk claims he was overseeing a high-risk SpaceX mission, prioritizing astronaut safety.

Portfolio Pulse from Ananya Gairola

September 21, 2024 | 5:00 am

SAVA

Matt Nachtrab has responded to a tweet by Adam Feuerstein, accusing him of spreading misinformation or FUD (Fear, Uncertainty, and Doubt) about Cassava Sciences ($SAVA) to benefit short sellers. Nachtrab suggests that his actions might be disrupting the plans of these short sellers.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2024 | 8:26 pm

TSLA

The SEC plans to seek sanctions against Elon Musk for allegedly violating a court order to testify in an investigation related to his Twitter takeover. This development could have implications for Musk's companies, including Tesla.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2024 | 7:55 pm

JNJ

Johnson & Johnson's subsidiary, Red River Talc, has filed for a voluntary prepackaged Chapter 11 bankruptcy to address current and future ovarian cancer talc claims.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2024 | 7:36 pm

CI

CVS

LLY

NVO

SNY

UNH

The FTC has filed a lawsuit against CVS Health, Cigna, and UnitedHealth's pharmacy benefit managers for allegedly inflating insulin prices through anti-competitive practices. The complaint highlights a rebate system that prioritizes higher-priced drugs, increasing costs for patients.

Portfolio Pulse from Vandana Singh

September 20, 2024 | 7:26 pm

ETHUSD

A Texas judge dismissed ConsenSys' lawsuit against the SEC after the regulator withdrew its investigation into Ethereum. The lawsuit aimed to clarify that Ethereum's native token, ether, should not be classified as a security. The dismissal reflects concerns about regulatory overreach in the blockchain industry.

Portfolio Pulse from Murtuza Merchant

September 20, 2024 | 5:18 pm

NTDOY

SONY

Nintendo and The Pokémon Company have filed a patent infringement lawsuit against Palworld developer Pocketpair, focusing on the game's monster-catching mechanics. This legal action could significantly impact Pocketpair, potentially forcing changes to the game. The lawsuit's timing aligns with recent patent approvals, suggesting a strategic move by Nintendo.

Portfolio Pulse from Franca Quarneti

September 20, 2024 | 4:42 pm

CVS

LLY

NVO

SNY

The FTC has filed a lawsuit against units of CVS Health, Cigna, and UnitedHealth, accusing them of artificially inflating insulin prices by excluding cheaper options in favor of expensive, highly rebated alternatives. The lawsuit does not currently name insulin drugmakers Eli Lilly, Novo Nordisk, and Sanofi, but the FTC reserves the right to sue them later.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2024 | 4:08 pm

ICUI

Smiths Medical has recalled its Parapac Plus ventilators due to a loosened patient outlet connector, which has resulted in one injury and one death. The FDA has classified this as the most serious type of recall.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2024 | 2:33 pm

AMZN

NOK

Amazon is contesting a court decision in a case involving Nokia, expressing confidence in a swift resolution. Despite the legal dispute, Amazon confirms that its Fire TV devices remain available and voices disappointment in Nokia's actions.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2024 | 1:45 pm