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BTCUSD

Digital Currency Group (DCG) has hired Barry Berke, a white-collar defense lawyer known for his role in the impeachment proceedings against former President Donald Trump, to represent them in a $1.1 billion lawsuit. The lawsuit, filed by New York Attorney General Letitia James, accuses DCG, its affiliate Genesis Global Capital, and the crypto trading platform Gemini Trust of defrauding customers. The lawsuit seeks to ban the companies from the financial investment industry in New York and seeks restitution for investors.

Portfolio Pulse from Mehab Qureshi

November 02, 2023 | 6:22 am

CMCSA

DIS

GOOG

GOOGL

META

NWSA

NYT

PARA

News Media Alliance (NMA) has accused AI chatbots of illegally using copyrighted news. NMA, representing companies like CBS, Vicacom, Comcast, News Corp, AT&T, and Walt Disney, stated that AI models are using a significant amount of news publisher content for training, leading to copyright infringement. NMA has recommended the Copyright Office to declare that using a publication’s content to monetize AI systems harms publishers. It also called for licensing models and transparency measures to limit the intake of copyrighted materials.

Portfolio Pulse from Khyathi Dalal

November 01, 2023 | 11:46 pm

BAYRY

BAYZF

Bayer AG (OTC: BAYRY) (OTC: BAYZF) has lost its third trial this month related to its Roundup weed killer, with a California jury ordering the company to pay $332 million in damages. The plaintiff claimed that Roundup caused his cancer. The verdict includes $7 million in compensatory damages and $325 million in punitive damages. Bayer plans to appeal the decision. The company has faced a series of legal losses related to Roundup, with verdicts of $175 million and $1.25 million in two separate trials earlier this month.

Portfolio Pulse from Vandana Singh

November 01, 2023 | 5:31 pm

BHC

SPY

The U.S. District Court has dismissed Norwich Pharmaceuticals' lawsuit against the FDA and Salix Pharmaceuticals, granting summary judgment in favor of the latter two. Norwich's appeal of the final judgment remains pending at the U.S. Court of Appeals for the Federal Circuit, with a decision expected in Q1 2024.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 4:24 pm

COIN

Coinbase Global, Inc (NASDAQ:COIN) is making crypto futures more accessible to retail traders in the U.S. through its Coinbase Advanced platform. The company has sized futures contracts for retail traders at 1/100th of a Bitcoin and 1/10th of an Ethereum. However, Coinbase is expected to report another quarter of losses due to lower trading volumes and is currently facing a lawsuit with the U.S. SEC for allegedly operating an unregistered exchange.

Portfolio Pulse from Anusuya Lahiri

November 01, 2023 | 2:39 pm

AAPL

EWU

Apple Inc has lost a bid to block a mass lawsuit in London accusing it of hiding defective batteries in millions of iPhones by throttling them with software updates. The lawsuit was brought by consumer champion Justin Gutmann on behalf of iPhone users in the United Kingdom.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 2:17 pm

TSLA

Tesla Inc. (NASDAQ:TSLA) has won a lawsuit in China against a social media influencer who claimed a 2022 crash was due to a faulty Model Y. The court found no defects in the vehicle's steering or braking system and ordered the influencer to issue a public apology and pay Tesla $4,100 for defamation. This follows another recent victory for Tesla in a fatal crash case in California, boosting the credibility of its driver-assistance technology.

Portfolio Pulse from Benzinga Neuro

November 01, 2023 | 9:55 am

BTCUSD

SOLUSD

SkyBridge Capital, founded by Anthony Scaramucci, reported record-breaking monthly returns in October, largely due to investments in Bitcoin and Solana. However, the company's reputation suffered due to its association with Sam Bankman-Fried, the former CEO of crypto exchange FTX, who is currently facing trial for fraud and misuse of customer funds. FTX's venture arm acquired a 30% stake in SkyBridge in September 2020, which Scaramucci plans to repurchase, subject to bankruptcy court approval.

Portfolio Pulse from Mehab Qureshi

November 01, 2023 | 4:59 am

GOOGL

The ongoing antitrust trial against Alphabet Inc. (NASDAQ:GOOGL) has revealed internal conflicts between Google's search and advertisement teams during the company's 'Code Yellow' period in 2019. The company declared a 'Code Yellow' emergency when it feared not meeting the search revenue targets for that quarter. The trial is examining whether Google has unlawfully sustained its monopoly by spending vast amounts to stifle competition and retain its online search dominance.

Portfolio Pulse from Benzinga Neuro

November 01, 2023 | 4:50 am

TSLA

Tesla Inc (NASDAQ:TSLA) has been cleared in a court case alleging that its Autopilot system was responsible for a fatal Model 3 crash in Los Angeles in 2019. The jury concluded that the vehicle did not have a manufacturing defect. This is the first U.S. trial to allege that Tesla’s autopilot feature led to a death. The company is facing other probes regarding its autopilot capabilities from the National Highway Traffic Safety Administration and the U.S. Department of Justice.

Portfolio Pulse from Anan Ashraf

November 01, 2023 | 4:35 am