Streetbeat News

Legal

UBS

UBS has agreed to pay $1.44 billion to settle a Department of Justice (DOJ) case related to the financial crisis era. The settlement resolves allegations that UBS misled investors about the quality of mortgage-backed securities leading up to the 2008 financial crisis.

Portfolio Pulse from Happy Mohamed

August 14, 2023 | 5:26 pm

DWAC

SPY

The Fulton County District Attorney's Office has stated that a Reuters report claiming charges were filed against former President Donald Trump is inaccurate. The news may have implications for DWAC and SPY.

Portfolio Pulse from Happy Mohamed

August 14, 2023 | 5:17 pm

DWAC

SPY

Georgia has charged former President Donald Trump with solicitation of violation of oath by a public officer, according to a document cited by Reuters. The news does not directly mention any US-listed companies or ETFs.

Portfolio Pulse from Happy Mohamed

August 14, 2023 | 4:46 pm

DIS

SPY

In a recent CNBC interview, Governor DeSantis urged Disney to drop the lawsuit and move forward. This comes after Disney's legal action against the state of Florida.

Portfolio Pulse from Happy Mohamed

August 14, 2023 | 2:49 pm

AMC

AMC Entertainment's shares are trading lower following court approval for its revised stock conversion plan.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2023 | 1:30 pm

AMC

AMC Entertainment Holdings has received court approval for its revised stock conversion plan, leading to a rise in the trading of its Preferred Equity Units.

Portfolio Pulse from Luke J Jacobi

August 14, 2023 | 12:30 pm

GOOG

GOOGL

WMT

Alphabet Inc-owned Google and Walmart-owned Flipkart have been found guilty of poor service and unfair trade practices by the Chandigarh District Consumer Commission in India. The case was brought by a customer who bought a faulty Google Pixel 4A phone from Flipkart. Despite multiple complaints, the issue remained unresolved. The companies have been ordered to refund the customer $325 with a 9% annual interest and pay an additional $120 for mental distress and legal costs.

Portfolio Pulse from Shomik Sen Bhattacharjee

August 14, 2023 | 12:14 pm

DELL

Dell Technologies Inc has been fined A$10 million ($6.46 million) by Australia's Federal Court for misleading customers about discounts for add-on computer monitors on its website. Between August 2019 and December 2021, Dell Australia sold over 5,300 monitors with overstated discounts. Despite this, Morgan Stanley raised its bull case valuation on the stock from $81 to $84, focusing on Dell's leveraging of generative AI technology.

Portfolio Pulse from Lekha Gupta

August 14, 2023 | 10:28 am

AMC

AMC Entertainment Holdings, Inc. (NYSE:AMC) shares slumped in premarket trading following the Delaware Chancery Court’s ruling that the company can increase the number of authorized shares and do a reverse split of the shares in the ratio of 1-for-10. This will allow conversion of all outstanding AMC preferred shares (APE) into AMC common shares. The move is expected to dilute equity capital, pushing down the stock price. In premarket trading, AMC shares traded down 27.38% at $3.82, while the APE preferred unit jumped 26.40% to $2.25.

Portfolio Pulse from Shanthi Rexaline

August 14, 2023 | 10:25 am

DELL

An Australian court has fined a Dell unit $6.5 million for misleading customers about discounts. The court found that the company had misled customers into thinking they were getting a bigger discount than they actually were.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2023 | 5:42 am