Streetbeat News

Legal

DIS

Disney has amended its federal lawsuit against Florida Gov. Ron DeSantis to focus solely on its First Amendment claim that the governor politically retaliated against the company following its criticism of a controversial bill. Disney has asked to drop its other claims in the case, which concern a dispute over Walt Disney World’s development contracts, as they are being actively pursued in a separate state-level lawsuit in Florida.

Portfolio Pulse from Happy Mohamed

September 07, 2023 | 8:38 pm

DIS

Disney has decided to drop all but the free speech claim in its political retaliation lawsuit against Florida Governor Ron DeSantis. The company had previously accused DeSantis of retaliating against it for its opposition to a controversial state law.

Portfolio Pulse from Bill Haddad

September 07, 2023 | 8:27 pm

SPY

Peter Navarro, a former advisor to President Trump, has been found guilty of two counts of contempt of Congress. The charges relate to his refusal to comply with subpoenas related to an investigation into the Trump administration's response to the COVID-19 pandemic.

Portfolio Pulse from Bill Haddad

September 07, 2023 | 8:15 pm

ACRHF

CURLF

GTBIF

New York lawmakers, led by state Sen. Jeremy Cooney, will hold a hearing to address the state's delayed rollout of its legal cannabis industry. The industry has faced multiple lawsuits and a court injunction preventing the Office of Cannabis Management from issuing new retail licenses. Four major medical marijuana retailers in New York, including Curaleaf Holdings, Green Thumb Industries, Acreage Holdings, and PharmaCann, have urged Gov. Kathy Hochul to grant them licenses to sell adult-use cannabis.

Portfolio Pulse from Maureen Meehan

September 07, 2023 | 7:26 pm

PHG

Royal Philips (NYSE:PHG) has agreed to resolve all economic loss claims related to its voluntary recall of certain sleep and respiratory care devices manufactured by its subsidiary, Philips Respironics. The settlement terms, subject to court approval, include predefined cash awards for eligible participants and extended warranties on all replacement devices. Philips Respironics recorded a provision of €575 million in Q1 of 2023 to cover the estimated costs of the final settlement. Payments to class members are not expected to commence until at least Q1 2024.

Portfolio Pulse from Vandana Singh

September 07, 2023 | 6:40 pm

FMC

FMC Corporation (NYSE:FMC) has responded to a report by short-seller Blue Orca Capital, stating that it contains misleading and factually inaccurate statements about FMC's patents for its diamide insecticide technology and the strength of FMC's business. FMC has always been transparent about its diamide growth strategy and has consistently disclosed material developments in diamide litigation in SEC filings.

Portfolio Pulse from Happy Mohamed

September 07, 2023 | 4:54 pm

CHTR

DIS

Charter Communications Inc's CEO has expressed a 'sense of urgency' to resolve the ongoing dispute with Disney. The details of the dispute were not disclosed in the article.

Portfolio Pulse from Happy Mohamed

September 07, 2023 | 4:42 pm

FMC

Blue Orca Capital has issued a short report on FMC Corporation, highlighting undisclosed legal setbacks and the impact of generic competition on its revenues. FMC's revenues have already been hit by a global oversupply of inventory, and a 30% Y/Y decline was reported recently. The report suggests that FMC misled investors about the potential for generic competition for its flagship diamides. Legal rulings have allowed generic alternatives to enter key markets in India and China, with Brazil likely to follow. These generics are often sold at significantly lower prices, threatening FMC's market share.

Portfolio Pulse from Vandana Singh

September 07, 2023 | 3:18 pm

FTTUSD

Ryan Salame, a former official at FTX (CRYPTO: FTT), is reportedly preparing to admit to criminal allegations related to the downfall of the crypto trading platform. This follows the upcoming trial of FTX's co-creator, Sam Bankman-Fried, who is accused of orchestrating a massive fraudulent scheme within the digital currency exchange.

Portfolio Pulse from Murtuza Merchant

September 07, 2023 | 3:16 pm