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Legal

GOOG

GOOGL

DuckDuckGo's CEO, Gabriel Weinberg, criticized Alphabet Inc.'s Google during an ongoing antitrust trial, stating that switching from Google to DuckDuckGo is more difficult than necessary. Weinberg's comments highlight a significant hurdle for competitors, as DuckDuckGo currently holds only a 2.5% share of the U.S. search market compared to Google's nearly 90%. The U.S. Justice Department has accused Google of paying over $10 billion annually to ensure its preselection as the default search option, hindering competition.

Portfolio Pulse from Ananya Gairola

September 22, 2023 | 7:41 am

ADAUSD

BTCUSD

ETHUSD

Crypto influencer Ben Armstrong has raised over $80,000 in Ethereum (ETH), Bitcoin (BTC), and Cardano (ADA) to fund his legal campaign to regain control over BitBoy Crypto. This move has drawn criticism from the crypto community, including broadcaster Max Keiser, who likened Armstrong's promotion of certain cryptocurrencies to addictive substances. Meanwhile, Bitcoin's price has dropped by 1.56%.

Portfolio Pulse from Mehab Qureshi

September 22, 2023 | 6:22 am

IIPR

SLGWF

A New Jersey Judge has dismissed an investor lawsuit against cannabis REIT Innovative Industrial Properties (IIPR) that accused IIP of fraudulent activities. Meanwhile, SLANG Worldwide (SLGWF) is facing allegations of concealing their financial difficulties during negotiations to acquire a Vermont-based cannabis operation.

Portfolio Pulse from Nicolás Jose Rodriguez

September 21, 2023 | 9:01 pm

ZYME

Zymeworks Inc has announced that the termination of the Zanidatamab Zovodotin License & Collaboration Deal does not relieve the parties from obligations accrued prior to the termination.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 8:41 pm

COIN

XRPUSD

Ripple's legal expenses have surged to $200 million, doubling from the $100 million reported in July 2022, due to the ongoing legal tussle with the U.S. Securities and Exchange Commission (SEC). Ripple's CEO, Brad Garlinghouse, criticized SEC Chairman Gary Gensler for his aggressive stance. Amidst the regulatory turmoil in the U.S., Ripple and Coinbase Global Inc. are considering Asia for future expansion.

Portfolio Pulse from Murtuza Merchant

September 21, 2023 | 7:04 pm

UPS

The U.S. Justice Department has reached an agreement with United Parcel Service (UPS) to resolve immigration-related employment discrimination claims. UPS will pay nearly $100,000 in back pay, front pay, and associated benefits to the affected worker.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 5:42 pm

RAI

STZ

TAP

Mississippi's Department of Health has announced major revisions to cannabis industry regulations, impacting the state's 370 licensed medical cannabis businesses. Studies in Maine and New York have raised concerns about potential contamination in the medical cannabis market. The Pennsylvania Senate has passed a bill to allow all licensed medical marijuana growers and processors in the state to directly sell their products to patients. The Coalition for Cannabis Policy, Education, and Regulation (CPEAR), supported by Altria, Reynolds American, Molson Coors, and Constellation Brands, has released a report suggesting policy recommendations to combat the illicit cannabis market in the U.S.

Portfolio Pulse from Nicolás Jose Rodriguez

September 21, 2023 | 5:16 pm

CURLF

VRNOF

The Alabama Medical Cannabis Commission's license allocation process is under scrutiny due to alleged ties with Russian oligarch, Andrey Blokh, who is the second-biggest shareholder at Curaleaf Holdings, Inc. and partially owns 3 Notch Roots LLC, a company awarded a license. Blokh is linked to Roman Abramovich, who has been secretly investing in cannabis companies and was sanctioned by the U.K., the EU, and the U.S. following Russia's invasion of Ukraine. Curaleaf and its chairman, Boris Jordan, were also targeted due to potential connections to Russia.

Portfolio Pulse from Jelena Martinovic

September 21, 2023 | 4:26 pm

SNAP

South Korean police have accused 17 U.S. soldiers and five others of illegally distributing or consuming synthetic cannabis, smuggled in via the U.S. military postal service. The soldiers allegedly used Snapchat, owned by Snap Inc (NYSE:SNAP), for this operation. No soldiers have been arrested, but charges have been recommended against all 22 individuals involved.

Portfolio Pulse from Nina Zdinjak

September 21, 2023 | 2:19 pm

ARM

AVGO

CART

CSCO

DRI

FDS

GOOG

GOOGL

KBH

KDP

KHC

MRVL

NIO

PARA

SBUX

SPLK

TOSBF

UBS

WBD

Weekly jobless claims fell to 201,000, below estimates. Cisco Systems is acquiring Splunk for $28 billion, causing a rally in Splunk's stock and a fall in Cisco's. Starbucks announced a 7.5% increase in its quarterly dividend. Keurig Dr Pepper appointed Tim Cofer as COO, effective Nov.6, 2023. Kraft Heinz recalled 83,800 cases of Kraft Singles due to choking hazard. Google is replacing Broadcom with Marvell for AI chips. Nio launched a smartphone to compete in China's EV market. Toshiba is going private after a successful $14 billion tender offer from JIP. Unilever is selling some of its non-core beauty brands. UBS terminated 70% of Credit Suisse's HK research staff. VinFast plans to ship EVs to Europe by end of 2023. Paramount Global and Warner Bros. Discovery stocks rose amid reports of a potential end to the Hollywood writers' strike. Arm Holdings and Instacart stocks declined, raising concerns about tech IPOs. The DOJ limited access to key evidence in its antitrust case against Google. Kia launched its cheapest EV in South Korea. KB Home reported a Q3 sales decline of 13.9% YoY but beat estimates. Darden Restaurants reported Q1 sales growth of 11.6% YoY, beating estimates. FactSet Research reported Q4 sales growth of 7.3% YoY, slightly beating estimates.

Portfolio Pulse from Vandana Singh

September 21, 2023 | 2:02 pm