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Legal

GOOG

GOOGL

Google is set to face a jury trial on September 9, 2024, due to an antitrust lawsuit filed by the U.S. Justice Department and several U.S. states, focusing on its digital ads business, as reported by Reuters citing a court order.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 4:56 pm

AAPL

NVDA

SSNLF

Samsung Electronics Co, led by Jay Y. Lee, was acquitted of stock manipulation charges, a significant legal victory allowing Lee to continue leading the company. This ruling comes as Samsung faces competition from Apple Inc in smartphones and SK Hynix Inc in AI, with plans to commercialize advanced chips by 2025 and 2027. The acquittal removes the threat of imprisonment for Lee, enabling him to focus on Samsung's challenges, including a downturn in the smartphone and memory chip markets. Nvidia Corp, a rival in the chip sector, saw its shares rise by 3.08% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

February 05, 2024 | 3:41 pm

FNB

FNB has agreed to invest $11.75 million in a loan subsidy fund and spend an additional $750,000 on advertising, outreach, and education as part of a consent order with the U.S. Department of Justice. The total settlement value is $13.5 million, and the consent order will last for 5 years, according to a court filing.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 3:09 pm

FNB

The U.S. government and North Carolina have filed a lending discrimination lawsuit against First National Bank of Pennsylvania. The bank has agreed to settle the case, according to a court filing.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 3:08 pm

SAN

Banco Santander shares are trading lower after a report indicated that Iran utilized Santander UK and Lloyds to secretly transfer funds, evading sanctions.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 3:07 pm

LYG

A spokesperson from Lloyds stated that the bank believes it has met all legal and regulatory obligations and, based on its own investigation, does not think it has breached any sanction requirements. This statement was reported by Reuters.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 3:03 pm

AAPL

TSLA

A Tesla Inc. (TSLA) driver was pulled over for driving while wearing Apple Inc.'s (AAPL) new mixed reality headset, Apple Vision Pro. The incident has sparked a debate on social media, with some users calling for the driver's arrest for endangering road safety. The Apple Vision Pro's launch has led to various innovative and controversial uses, highlighting its potential and the risks of misuse.

Portfolio Pulse from Rounak Jain

February 05, 2024 | 1:59 pm

SUPN

Supernus Pharmaceuticals (SUPN) won a court case against Torrent Pharmaceuticals and its subsidiary, confirming the infringement and validity of patents related to Trokendi XR. The U.S. District Court for the District of New Jersey ruled that Torrent's submission of an ANDA to the FDA for a generic version of Trokendi XR infringed on Supernus' patents.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 1:37 pm

NSTG

TXG

NanoString Technologies Inc (NSTG) initiated a Chapter 11 restructuring due to financial strain from a patent litigation loss to 10x Genomics Inc (TXG), with over $31 million in damages awarded. NanoString is exploring strategic alternatives, including a potential sale, and has secured a principle agreement for $40 million in debtor-in-possession financing to maintain operations. NSTG shares plummeted 59.43% in premarket trading.

Portfolio Pulse from Vandana Singh

February 05, 2024 | 1:31 pm

CANO

CHEA

FDMT

4D Molecular Therapeutics, Inc. (FDMT) shares rose by 20.1% in pre-market trading after presenting favorable interim data from a Phase 2 clinical trial. Other stocks also moved significantly in pre-market trading, with notable gainers including Chenghe Acquisition Co. (CHEA), Tritium DCFC Limited (DCFC), and YanGuFang International Group Co., Ltd. (YGF). Losers included Cano Health, Inc. (CANO), DMK Pharmaceuticals Corporation (DMK), and NanoString Technologies, Inc. (NSTG), all experiencing significant drops due to various challenges such as bankruptcy proceedings and delisting notices.

Portfolio Pulse from Avi Kapoor

February 05, 2024 | 1:04 pm