Streetbeat News

Legal

EBAY

eBay Inc is facing legal challenges from the U.S. government over alleged breaches of environmental regulations. The charges are related to eBay's role in facilitating the sale of products that violate environmental norms, including over 343,000 'defeat' devices, more than 23,000 unauthorized pesticides, and over 5,600 paint and coating removers containing methylene chloride. eBay could face penalties that could escalate into billions of dollars.

Portfolio Pulse from Shivani Kumaresan

September 28, 2023 | 12:51 pm

AAPL

GOOG

GOOGL

The ongoing antitrust case against Alphabet Inc's Google, involving Apple Inc, has been criticized for being conducted largely behind closed doors. The Justice Department accuses Google of using agreements with Apple and other phone manufacturers to stifle competition among search engines. The trial could potentially impact Google's future business practices or even result in a company breakup.

Portfolio Pulse from Vandana Singh

September 28, 2023 | 12:30 pm

BNTX

CVAC

The Regional Court Düsseldorf has suspended proceedings on four intellectual property rights in the infringement lawsuit filed by CureVac against BioNTech. A ruling on infringement will be provided once the validity of the intellectual property rights has been determined by the relevant patent offices. BioNTech has challenged the validity of these intellectual property rights.

Portfolio Pulse from Charles Gross

September 28, 2023 | 11:06 am

CTVA

Corteva has filed a lawsuit against Inari Agriculture, Inc. and Inari Agriculture NV, accusing them of illegal actions to steal proprietary technology. The suit was filed in the U.S. District Court for the District of Delaware.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 8:04 pm

AAPL

Epic Games has challenged the ruling on Apple's App Store at the Supreme Court. The outcome of this case could have significant implications for Apple's business model and revenue from the App Store.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 6:40 pm

MSOS

TCNNF

Trulieve CEO Kim Rivers has expressed optimism about the language of Florida's legalization legislature. The company is currently awaiting a decision from the state Supreme Court.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 6:20 pm

FTTUSD

U.S. Rep. Patrick McHenry has criticized SEC Chair Gary Gensler for his lack of transparency regarding his interactions with FTX (CRYPTO: FTT) and its co-founder Sam Bankman-Fried. McHenry emphasized Gensler's reluctance to share details with Congress and his handling of inquiries related to a bankrupt cryptocurrency exchange. He warned that continued non-compliance might lead to Congress issuing a subpoena to the SEC.

Portfolio Pulse from Murtuza Merchant

September 27, 2023 | 5:44 pm

AMZN

META

MSFT

Amazon.com, Inc. (NASDAQ:AMZN) is facing an antitrust lawsuit filed by the FTC and 17 state governments, alleging the company is using anti-competitive tactics to maintain its market dominance. The lawsuit has led to a 1.4% drop in Amazon's shares, hitting a 3-month low. Despite this, several analysts maintain positive outlooks for the company, with average one-year price target at $172, a 39% increase from the current valuation.

Portfolio Pulse from Piero Cingari

September 27, 2023 | 5:05 pm

PIXY

RAD

SPRC

STSS

Several stocks experienced significant movement in Wednesday's mid-day session. ShiftPixy, Inc. (NASDAQ:PIXY) shares jumped 152.8% after announcing the effective date for its reverse stock split. SciSparc Ltd. (NASDAQ:SPRC) gained 120.9% as it reported its 1-for-26 reverse share split is expected to be implemented after market close. Rite Aid Corporation (NYSE:RAD) climbed 44% following a substantial settlement agreement of $230 million by consulting firm McKinsey & Company related to opioid addiction lawsuits. On the other hand, Sharps Technology, Inc. (NASDAQ:STSS) fell 31.6% after reporting a $5.6 million registered direct and private placement priced at the market under Nasdaq rules.

Portfolio Pulse from Lisa Levin

September 27, 2023 | 4:48 pm

UBS

The Department of Justice (DOJ) is reportedly intensifying its investigation into UBS and Credit Suisse over alleged evasion of Russian sanctions. This news has led to a decrease in UBS's share price.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 4:34 pm