Streetbeat News

Legal

GTBIF

Green Thumb Industries (OTC:GTBIF) is facing financial turbulence due to a trademark dispute with Edible Arrangements over the name 'Incredibles'. Despite claims being dismissed, GTI sought Edible to cover legal fees, but U.S. District Judge Sara L. Ellis disagreed. Additionally, GTI CEO Ben Kovler transferred 35,000 super-voting shares, a 19% drop, valued at around C$52.5 million as part of his divorce settlement, which could affect GTI's internal dynamics.

Portfolio Pulse from Nicolás Jose Rodriguez

October 05, 2023 | 2:47 am

SOLO

ElectraMeccanica Vehicles has terminated its arrangement agreement with Tevva due to multiple breaches, including failures to disclose material information. The decision was made by ElectraMeccanica's Board of Directors. The company intends to explore all legal recourse available and believes it remains well-capitalized. It plans to continue exploring other strategic third-party opportunities and potential options for its business.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 8:18 pm

BTCUSD

Despite the arrest of FTX co-founder Sam Bankman-Fried and the collapse of his cryptocurrency exchange FTX, Bitcoin's price has rallied over 60%. The downfall of FTX was due to unsustainable layers of deception, including the disappearance of $1 billion in customer funds. Despite these setbacks, investor support for Bitcoin remains strong. Crypto services provider Matrixport estimates Bitcoin to peak at $37,000 by the end of the year.

Portfolio Pulse from Khyathi Dalal

October 04, 2023 | 7:37 pm

TSLA

A U.S. judge has upheld a $3.75 million jury verdict in a racial bias case involving a worker at Tesla Inc.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 5:06 pm

CABGY

Carlsberg AS (OTC:CABGY) has terminated its license agreements with Baltika Breweries, ending Baltika's authorization to produce, market, and sell all products under the Carlsberg brand in Russia. This move is in response to the Russian government's temporary seizure of Baltika's management. Carlsberg is exploring all options, including legal measures, to safeguard its employees, assets, and operations in Russia. Carlsberg has decided to fully impair the value of its business in Russia, which will be recognized in other comprehensive income in the full-year accounts and will not impact the income statement.

Portfolio Pulse from Nabaparna Bhattacharya

October 04, 2023 | 4:57 pm

AMZN

AYI

EADSY

GOOG

HELE

JNJ

MMM

PLTR

PODD

SFTBF

SNY

TEVA

UAL

UBER

UBS

Palantir is expanding its collaboration with PwC to combine AI capabilities. Anthropic, a competitor to OpenAI, is securing additional funding from Alphabet and Amazon. Sanofi and Teva have collaborated to co-develop a drug for inflammatory bowel disease. Insulet's CFO is resigning to join 3M. United Airlines has ordered 110 more aircraft from Boeing and Airbus. Zoom has unveiled AI-powered innovations. Over 75,000 employees of Kaiser Permanente have initiated a three-day strike. Softbank's CEO emphasized the importance of AGI. Uber is expanding its service offerings to include package return. UBS is offering enticing interest rates to attract clients. A New Jersey appeals court overturned a verdict linked to asbestos exposure in Johnson & Johnson's talc powder products. BP is looking to sell a stake in its U.S. oil and gas pipeline network. Helen Of Troy and Acuity Brands reported their earnings.

Portfolio Pulse from Vandana Singh

October 04, 2023 | 4:37 pm

PFE

Advocacy group Do No Harm has appealed to the 2nd U.S. Circuit Court to revive its lawsuit against Pfizer Inc, alleging that Pfizer's diversity fellowship program discriminates against white and Asian-American applicants. Pfizer defended its position, stating that the program has been modified to accept applicants of any race from 2023, provided they meet specific non-race-based criteria. The lawsuit was filed in September 2022, and the court's decision is pending.

Portfolio Pulse from Vandana Singh

October 04, 2023 | 2:26 pm

FNGR

FingerMotion has responded to a short seller report by Capybara, stating that it contains many errors, unsupported speculations, and inaccurate interpretations of events. The company plans to review and examine the allegations.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 1:18 pm

FTTUSD

The U.S. Department of Justice (DOJ) has stated that existing laws are sufficient to charge FTX founder Sam Bankman-Fried for his alleged involvement in fraudulent activities. The DOJ believes that the evidence against Bankman-Fried, particularly concerning the misappropriation of customer funds and their use in political campaigns, is clear and compelling. The DOJ also emphasized that compliance with other regulations or laws does not serve as evidence of good faith.

Portfolio Pulse from Murtuza Merchant

October 04, 2023 | 1:07 pm

JNJ

Johnson & Johnson (JNJ) has won an appeal overturning a $223.8 million verdict linked to asbestos exposure in its talc powder products. The verdict had been awarded to four plaintiffs who claimed they developed cancer due to exposure to asbestos in J&J's talc products. The company faces over 38,000 lawsuits alleging that its talc products contain asbestos and have caused various cancers. The cost of talc-related verdicts, settlements, and legal fees for J&J has reached approximately $4.5 billion.

Portfolio Pulse from Vandana Singh

October 04, 2023 | 12:51 pm