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Legal

BA

The SEC has received a proposed plan for the distribution of $201M paid by The Boeing Company and Dennis Muilenburg. The funds will be deposited in a Commission-designated account at the U.S. Department of the Treasury for the benefit of harmed investors.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 8:47 pm

HSAI

OUST

Ouster is continuing its patent case against Hesai in district court and is seeking to bar infringing products in the U.S. The International Trade Commission (ITC) terminated the investigation on October 11 to allow for arbitration before a ruling was made on the merits of the patent infringement complaint.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 8:19 pm

GM

The Occupational Safety and Health Administration (OSHA) has proposed a $270,000 fine on a joint venture battery plant in Ohio, operated by General Motors Company (NYSE:GM) and LG Energy Solution, due to safety and health violations. The proposal follows an investigation into a fire and explosion incident that occurred in March. OSHA investigators identified 19 safety and health violations at the facility.

Portfolio Pulse from Shivani Kumaresan

October 12, 2023 | 6:16 pm

TSLA

VGK

The EU has launched an investigation into X, formerly Twitter, over the spread of illegal content and disinformation on its platform, particularly related to the Israel-Hamas conflict. This is the first probe under the newly approved Digital Services Act (DSA). The company could face penalties or fines up to 5% of its daily global turnover if it fails to provide satisfactory responses. The EU is also investigating how X plans to handle misinformation during a crisis. The probe follows concerns about the spread of misinformation related to the Palestinian-Israeli conflict on X's platform.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 5:47 pm

AMC

AMC Entertainment Holdings Inc's CEO, Adam Aron, was the victim of an attempted extortion by Sakoya Blackwood, who tried to blackmail him using sexually explicit photos and texts. Aron reported the incident to the FBI, and Blackwood was federally indicted and pleaded guilty to the charges. The AMC board has reviewed the events and considers the issues resolved. AMC shares were up 1.58% at $10.59 at publication Thursday.

Portfolio Pulse from Adam Eckert

October 12, 2023 | 5:44 pm

BTI

British American Tobacco (BAT) has expressed disappointment at the FDA's Marketing Denial Orders (MDOs) for Vuse Alto's Menthol and Mixed Berry products. The company plans to challenge the decision and seek a stay of enforcement. The FDA's decision was based on the absence of long-term consumer switching data for these products. BAT argues that this decision contradicts proven science and the FDA's goal of reducing the health effects of tobacco use. The company also expressed concern about the FDA allowing the proliferation of youth-appealing vapor products.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 4:23 pm

SPY

The U.S. has filed a superseding indictment against U.S. Senator Menendez, according to a court filing cited by Reuters.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 4:05 pm

GM

SPY

The U.S. agency has proposed $270,000 in fines for the GM-LG Energy Ohio joint venture battery plant due to 19 safety and health violations.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 3:23 pm

F

MSFT

NOC

NVDA

QCOM

TSLA

The article covers a range of topics including Microsoft's appeal against a $29B US tax claim by the IRS, insider selling of Qualcomm and Northrop Grumman stocks, and Nvidia's bullish outlook with a predicted 50% stock gain. It also mentions Tesla's warning about the potential slashing of Model 3's tax credit and Ford's ongoing UAW strike. In the crypto space, Bitcoin, Ethereum, and Dogecoin are discussed.

Portfolio Pulse from Akanksha Bakshi

October 12, 2023 | 2:06 pm