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Legal

ADM

Archer-Daniels-Midland (ADM) disclosed a material weakness in its internal control over financial reporting, attributing it to inadequate controls that permitted the reporting of certain intersegment sales at values not close to market rates.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 10:24 am

ADM

Archer-Daniels-Midland (ADM) announced that following its January 21, 2024, announcement of an investigation, it has received voluntary document requests from the Department of Justice (DoJ), primarily focused on the same subject matter.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 10:21 am

GOOG

MSFT

The ongoing feud between Mark Cuban and Elon Musk extends to AI bias discussions, with Musk criticizing AI models like OpenAI's GPT-4 and Google's Gemini for bias, while Cuban argues that no AI can be bias-free and market preferences will dictate AI development. Musk has also been promoting his own AI, xAI's Grok, as unbiased. The debate includes concerns over AI content moderation filters and calls for open-sourcing AI technologies.

Portfolio Pulse from Rounak Jain

March 12, 2024 | 9:10 am

BTCUSD

DOGEUSD

SHIBUSD

In February, crypto phishers stole $47 million, mainly through fake accounts on Elon Musk's X, targeting Bitcoin, Dogecoin, and Shiba Inu users. Over 57,000 victims were affected, with Ethereum mainnet and ERC-20 tokens being the primary targets. Despite more victims, the total stolen amount decreased from January. High-profile accounts, including MicroStrategy's, were hacked, contributing to the losses. The first two months of 2024 saw $104 million lost to phishing, with Ethereum users suffering $78 million of those losses. The U.S. saw a 53% increase in cryptocurrency scam losses in 2023, totaling $3.94 billion.

Portfolio Pulse from Benzinga Neuro

March 12, 2024 | 7:54 am

BA

Former Boeing employee John Barnett, known for raising safety concerns, was found dead amid legal turmoil with the company. Barnett, who worked at Boeing for 32 years and retired in 2017, had been involved in a whistleblower lawsuit against Boeing, raising issues about safety and production standards at the North Charleston plant. His death comes as Boeing faces increased scrutiny over production standards and safety, highlighted by recent incidents and FAA audits revealing quality control failures.

Portfolio Pulse from Benzinga Neuro

March 12, 2024 | 5:44 am

META

Meta Platforms Inc. (NASDAQ:META) has filed a lawsuit against its former Vice President, Dipinder Singh Khurana, for allegedly stealing confidential documents before joining a new AI cloud computing startup. Khurana, who worked at Meta for 12 years, is accused of uploading sensitive information to personal cloud storage, leading to the departure of at least eight Meta employees to his new company. The lawsuit was filed in California state court, highlighting Meta's efforts to protect its intellectual property and confidential information.

Portfolio Pulse from Ananya Gairola

March 12, 2024 | 2:41 am

BA

META

ORCL

SAVA

TSLA

On Monday, the U.S. stock market showed mixed results with the Dow Jones slightly up and NASDAQ, S&P 500 down. Boeing, Oracle, Meta Platforms, Cassava Sciences, and Tesla were among the most watched stocks due to various reasons including legal investigations, upcoming financial results, and product updates.

Portfolio Pulse from Benzinga Neuro

March 12, 2024 | 2:33 am

META

Legislation targeting TikTok's operations in the U.S. is advancing rapidly, with a bill that could force its sale or result in a ban passing the House Energy and Commerce Committee unanimously. President Biden has expressed readiness to sign the bill, while former President Trump opposes the ban, citing it would unfairly benefit Meta Platforms Inc.'s Facebook. TikTok, surprised by the bill's progress, is exploring strategies to prevent its passage, including legal challenges and lobbying senators. The company argues that separating its U.S. operations would compromise its global appeal.

Portfolio Pulse from Franca Quarneti

March 11, 2024 | 11:10 pm

CURLF

GTBIF

MSOS

TCNNF

VRNOF

Tension between the White House and the DEA over marijuana rescheduling is increasing, with DEA officials questioning the medicinal benefits of cannabis despite HHS documents supporting its medical use. The DEA's resistance and concerns over THC potency have caused cannabis stocks to wobble, with notable dips in stocks like MSOS, CURLF, GTBIF, VRNOF, and TCNNF. Rescheduling cannabis could offer significant benefits for the industry, including federal tax deductions and more research opportunities, but faces legal and international treaty concerns.

Portfolio Pulse from Maureen Meehan

March 11, 2024 | 10:56 pm

GIL

Browning West, LP, owning about 5% of Gildan Activewear's shares, has filed a lawsuit against Gildan and its board, accusing them of taking oppressive actions that disregard the rights and interests of shareholders.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 8:43 pm