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Legal

RUM

The U.S. Court of Appeals for the Second Circuit is scheduled to hear oral arguments on Friday regarding a free speech case involving Rumble. This case could have significant implications for the company's operations and its stance on free speech issues.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 2:08 pm

AAPL

GOOG

GOOGL

MSFT

The European Union has concluded that Apple Inc.'s iMessage and Microsoft Corp.'s Bing, Edge, and Advertising services do not qualify as 'gatekeeper services' under the Digital Markets Act (DMA), ending investigations that began in September. Despite meeting the quantitative criteria of the DMA, both companies successfully argued against the designation. The decision does not change Apple and Microsoft's status as gatekeepers, established on Sept. 5, 2023. Alphabet Inc.'s Google had previously pushed for iMessage to be recognized as a 'core' service, aiming for interoperability with other messaging platforms.

Portfolio Pulse from Rounak Jain

February 13, 2024 | 1:42 pm

SMRT

Harris R. Heyer and Michael J. Holder from 10th Mountain Management LLC, representing Scout Fund I, LP, a stockholder of SmartRent, Inc. (NYSE:SMRT), have publicly expressed concerns regarding SmartRent's strategy, communication, and governance. They highlighted a significant share price decline of over 70% since SmartRent's merger with Fifth Wall Acquisition Corp. I (FWAA), attributing it to investor disappointment, confusion, and skepticism. They criticized the management's handling of new unit deployments and their failure to address concerns, including corporate governance issues. They have called for immediate action from SmartRent's management and Board to address these issues and urged fellow shareholders to do the same.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 1:39 pm

TM

Toyota Motor Corp (NYSE:TM) announced the resignation of Daihatsu Motor's president and chairman due to a scandal involving rigged collision safety tests. Masahiro Inoue will replace Soichiro Okudaira as president, and the chairman position will be abolished. Daihatsu, a subsidiary of Toyota, had previously suspended shipments of all its models due to the scandal, affecting 64 models and three engines. Toyota plans to compensate its 423 domestic suppliers in Japan for the production halt. Despite the scandal, Toyota's shares rose by 2.34% in premarket trading.

Portfolio Pulse from Lekha Gupta

February 13, 2024 | 11:40 am

AAPL

FCC Commissioner Brendan Carr has urged an investigation into Apple Inc. (NASDAQ:AAPL) for blocking the Beeper Mini service, which aimed to make iMessage available on Android. Carr suggests this action may violate FCC's Part 14 rules on accessibility for individuals with disabilities. This follows Apple's decision to shut down Beeper Mini in December, leading to calls for an antitrust investigation into Apple's practices.

Portfolio Pulse from Benzinga Neuro

February 13, 2024 | 10:44 am

LTRPA

TRIP

Elon Musk, CEO of Tesla, criticized Delaware's legal environment, urging companies to relocate after a court decision overturned his 2018 compensation plan. He referenced TripAdvisor's thwarted attempt to move to Nevada due to a Delaware court ruling in favor of minority shareholders. TripAdvisor sought the move for tax savings and legal benefits, a move Musk has made with Neuralink. TripAdvisor's parent company, Liberty TripAdvisor Holdings, faced a similar issue.

Portfolio Pulse from Shanthi Rexaline

February 13, 2024 | 8:16 am

BBW

BRK

Jazwares, a subsidiary of Berkshire Hathaway (BRK), has filed a lawsuit against Build-A-Bear Workshop (BBW) for allegedly producing knockoff versions of its Squishmallows plush toys. Build-A-Bear has countered with its own lawsuit, claiming its Skoosherz line is based on its existing products. This legal battle is part of Jazwares' broader efforts to protect its Squishmallows brand, which has gained significant popularity, partly due to endorsements from celebrities like Lady Gaga and Kim Kardashian.

Portfolio Pulse from Benzinga Neuro

February 13, 2024 | 8:02 am

BTCUSD

Changpeng Zhao, co-founder of Binance, had his sentencing for money laundering and sanctions infringements delayed to April 30 by U.S. prosecutors. Zhao stepped down as CEO following his indictment by the U.S. Department of Justice in November. Binance, fined $4.3 billion and ordered to cease U.S. operations, faces significant legal challenges. Zhao, under travel restrictions, could face up to 18 months in prison. Bitcoin's price saw a 2.35% increase in the last 24 hours.

Portfolio Pulse from Mehab Qureshi

February 13, 2024 | 4:39 am

TSLA

The National Transportation Safety Board (NTSB) has publicly disassociated itself from advertisements aired during the Super Bowl, which called for a boycott of Tesla Inc (NASDAQ:TSLA) over safety concerns with its self-driving software. The NTSB criticized The Dawn Project, responsible for the ads, for unlawfully using its seal and implying endorsement. The Dawn Project, led by Dan O'Dowd, aims to highlight the risks of Tesla's self-driving technology.

Portfolio Pulse from Anan Ashraf

February 13, 2024 | 3:55 am

DIS

Disney has officially stated that its board does not endorse the nominees from The Trian Group or The Blackwells, and is urging shareholders to vote using the white proxy card. This indicates a clear stance against the proposed nominees from these groups, suggesting a potential conflict or disagreement with their vision or proposals for the company.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 10:56 pm