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FTTUSD

FTX (CRYPTO: FTT) founder Sam Bankman-Fried is expected to plead not guilty against wire fraud and conspiracy charges. A guilty verdict could result in decades of imprisonment. Bankman-Fried’s trial for the collapse of FTX and its hedge fund, Alameda Research, is scheduled to commence on Oct. 3. Of the seven charges that Bankman-Fried faces, only two are substantive charges, the rest are conspiracy charges.

Portfolio Pulse from Khyathi Dalal

September 25, 2023 | 2:06 pm

CDNA

The SEC has concluded its investigation into CareDx, Inc. and does not intend to recommend any enforcement action against the company. The investigation was related to matters similar to those identified in the civil investigative demand by the Department of Justice, with which the company continues to cooperate.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2023 | 11:05 am

BKNG

Booking Holdings has announced its intention to appeal the European Commission's decision to prohibit its acquisition of Etraveli Group. The company also announced an extension of a commercial partnership agreement between Booking.com and Etraveli Group through at least December 2028.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2023 | 9:30 am

TSN

The U.S. Labor Department is investigating Tyson Foods (NYSE:TSN) and Perdue Farms over allegations of child labor violations. The probe was triggered by a New York Times Magazine article detailing the employment of migrant children as young as 13 in overnight shifts at the companies' plants in Virginia. Both Tyson and Perdue have denied knowledge of children working in their plants and pledged to cooperate with the investigations.

Portfolio Pulse from Benzinga Neuro

September 24, 2023 | 12:56 pm

GOOG

GOOGL

The family of Philip Paxson has filed a lawsuit against Alphabet Inc.’s Google Maps, alleging that the service directed Paxson onto a collapsed bridge, resulting in his death. The family claims that there were no barriers or warning signs on the bridge or the road leading to it. Google expressed sympathy for the Paxson family and stated that they are reviewing the lawsuit.

Portfolio Pulse from Ananya Gairola

September 23, 2023 | 7:18 am

LFLY

Leafly Holdings, Inc. (NASDAQ:LFLY) has filed a lawsuit against New York's Office of Cannabis Management (OCM) over third-party advertising and marketing services. The New York Attorney General's Office has agreed to a stay, blocking the enforcement of the challenged regulations against Leafly and fully operational licensed cannabis dispensaries in New York. This allows Leafly to continue offering paid advertising services and transmit orders to licensed cannabis retailers.

Portfolio Pulse from Jelena Martinovic

September 23, 2023 | 1:27 am

AIR

AAR Corp has been ordered by a Russian Appellate Court to pay $13M in a judgment related to four engines it bought from VIM-AVIA Airlines. The court upheld a previous judgment against AAR Corp for one engine and reversed the dismissal of claims related to the remaining three engines. AAR Corp disputes the judgment and may seek further appellate review. The company has recognized a charge of $11.2M for the judgment against the remaining three engines in Q1 2024. AAR Corp believes the judgment is a result of a hostile business and legal environment for foreign companies in Russia.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 8:29 pm

AMZN

GOOG

GOOGL

META

RUM

SNAP

SPY

U.S. Supreme Court's Justice Alito has extended a temporary freeze on a ruling that restricts the Biden administration's contacts with social media companies. The specific companies involved are not mentioned in the summary.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 8:15 pm

AMZN

The Federal Trade Commission (FTC) is expected to file an antitrust lawsuit against Amazon's online retail operations as early as next week. The lawsuit, which has been in preparation since the start of the year, targets several of Amazon's business practices, including Amazon Prime and rules that block lower prices on competing websites. If successful, the lawsuit could lead to a court-ordered restructuring of Amazon's $1.35 trillion empire.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 4:12 pm

MMM

3M Company (NYSE:MMM) has agreed to a $9.62 million settlement with the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) over alleged sales to an Iranian entity. This follows a recent settlement with the SEC. The settlement addresses 54 apparent violations of OFAC sanctions on Iran, involving sales of reflective license plate sheeting products to a reseller for a customer in Iran. 3M shares are trading lower by 0.49% at $97.01.

Portfolio Pulse from Shivani Kumaresan

September 22, 2023 | 3:11 pm