DIRS.INFO The most relevant business & tech news

Mandatory Credit: Joe Camporeale-USA TODAY Sports/File PhotoJune 16 (Reuters) - A U.S. judge rejected World Wrestling Entertainment's (WWE.N) effort to dismiss a smaller rival's antitrust lawsuit that accused it of monopolizing the market for professional wrestling media rights. In a decision on Thursday, U.S. District Judge Edward Davila in San Jose, California, said MLW Media had presented enough "circumstantial" evidence that WWE uses its dominance to keep rivals from accessing various distributors and arenas. MLW said Stamford, Connecticut-based WWE commands about 92% of revenue from U.S. media rights for pro wrestling, versus 6% for All Elite Wrestling and less than 2% for everyone else. MLW sufficiently alleged that WWE's activities "had a substantial effect in foreclosing competitors from the professional wrestling media rights market," Davila wrote. The case is MLW Media LLC v World Wrestling Entertainment Inc, U.S. District Court, Northern District of California, No.

Persons: Cody Rhodes, Joe Camporeale, Edward Davila, MLW, Davila, Marc Kasowitz, Jonathan Stempel Organizations: Wrestling, District, MLW Media, WWE, Elite Wrestling, Fox, Amazon.com, CBS, Disney, Netflix, Warner Bros Discovery, Wrestling Entertainment Inc, Court, Northern District of, Thomson Locations: Inglewood , CA, USA, SoFi, U.S, San Jose , California, Stamford , Connecticut, , New York, Northern District, Northern District of California, New York

☆ Microsoft, Activision ask judge for speedy schedule in FTC challenge
▼ + stars: | 2023-06-14 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, June 14 (Reuters) - Microsoft (MSFT.O) and Activision Blizzard (ATVI.O) asked a U.S. judge on Wednesday to quickly schedule a case management conference in the Federal Trade Commission's legal bid to block the companies from completing a $69 billion tie-up. U.S. District Judge Edward Davila on Tuesday set a June 22-23 evidentiary hearing and temporarily blocked the parties from completing the deal pending a future decision on whether to grant a preliminary injunction. "Time is of the essence," the companies wrote in a court filing, noting that Microsoft's agreement to acquire Activision has a termination date of July 18 and contains a $3 billion termination fee. "Let there be no doubt, a preliminary injunction ruling is the only decision that matters under these challenging deadlines." Reporting by David Shepardson; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

Persons: Edward Davila, David Shepardson, Leslie Adler Organizations: Microsoft, Activision Blizzard, Federal Trade, District, Activision, Thomson Locations: U.S

☆ Elizabeth Holmes set to report to prison
▼ + stars: | 2023-05-30 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +3 min

CNN —Elizabeth Holmes is set to report to prison on Tuesday, capping off a stunning downfall for the disgraced founder of failed blood testing startup Theranos. Holmes was sentenced to more than 11 years in prison last November, after she was convicted months earlier on multiple charges of defrauding investors while running the now-defunct startup. Holmes was once an icon in the tech world, serving as a posterchild for the limitless ambitions and potential of Silicon Valley. Holmes and Balwani were first indicted together nearly five years ago on the same 12 criminal charges. This month, Davila ordered Holmes and Balwani to pay restitution of roughly $452 million to victims of their crimes.

☆ Theranos founder Elizabeth Holmes reports to prison to begin sentence
▼ + stars: | 2023-05-30 | by ( Ashley Capoot | ) www.cnbc.com time to read: +2 min

Theranos founder Elizabeth Holmes arrives to begin serving her prison sentence for defrauding investors in the failed blood-testing startup, at the Federal Prison Camp in Bryan, Texas, May 30, 2023. Disgraced Theranos CEO Elizabeth Holmes reported to prison Tuesday to begin her more than 11-year sentence for defrauding investors about the capabilities of her company's blood-testing technology. The ruling followed a day after an appeals court rejected Holmes' bid to stay out of prison while she appeals her conviction. A federal jury in San Jose, California, convicted Holmes on four counts of defrauding investors in Theranos, the company she dropped out of Stanford University to found in 2003. Balwani was convicted on 12 counts of wire fraud and conspiracy to commit wire fraud.

☆ "Some people are like 'I want to be her friend,' says an inmate at a Texas federal prison camp ahead of Elizabeth Holmes' arrival: WSJ
▼ + stars: | 2023-05-29 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Inmates at a Texas federal prison camp are looking forward to Elizabeth Holmes' arrival, per WSJ. Holmes is scheduled to start serving her 11-year sentence at the federal prison camp in Bryan, Texas on Tuesday. The Bryan prison camp is a minimum security, all-female facility about 100 miles from Houston. Inmates at a Texas federal prison camp are looking forward to Elizabeth Holmes' arrival, according to a Sunday report from The Wall Street Journal. The Bryan prison camp is a minimum security, all-female facility about 100 miles from Houston.

U.S. District Judge Edward Davila in San Jose, California, federal court in his ruling called the settlement "fair, adequate and reasonable." Class members will receive $50 up to $395 based on the number and nature of repairs made to a keyboard. The court's ruling approved a request from the plaintiffs' lawyers for $15 million in legal fees. Two lead plaintiffs' lawyers at Girard Sharp and Chimicles Schwartz Kriner & Donaldson-Smith in a statement said they "look forward to getting the money out to our clients." The case is In re: MacBook Keyboard Litigation, U.S. District Court, Northern District of California, No.

[1/2] Theranos founder Elizabeth Holmes arrives at the federal courthouse accompanied by her partner Billy Evans, to ask a U.S. judge at a hearing to pause her prison sentence of more than 11 years while... Read moreCompanies Theranos Inc FollowMay 17 (Reuters) - Theranos founder Elizabeth Holmes will begin serving her prison sentence on May 30 for defrauding investors in the failed blood-testing startup once valued at $9 billion. U.S. District Judge Edward Davila set the date on Wednesday for Holmes, 39, to begin serving 11 years and three months in prison. Holmes rose to fame after claiming Theranos' small machines could run an array of diagnostic tests with just a few drops of blood. Prosecutors said during the trial that Holmes misrepresented Theranos' technology and finances. Holmes' co-defendant, former Theranos President Ramesh "Sunny" Balwani, was convicted of defrauding Theranos investors and patients at a separate trial and sentenced to 12 years and 11 months in prison.

Under the restitution order made by Judge Edward Davila in San Jose, California, who also oversaw Holmes' trial and sentencing, both Holmes and Balwani are equally responsible for the full amount. Davila rejected their argument that intervening events contributed to Theranos investors’ losses. The denial of bail on Tuesday means Davila will now set a new date for her to go to prison. During the trial, Holmes testified in her own defense, saying she believed her statements were accurate at the time. Theranos, once valued at $9 billion, collapsed after a series of Wall Street Journal articles in 2015 questioned its technology.

☆ Elizabeth Holmes loses bid to avoid prison
▼ + stars: | 2023-05-17 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +2 min

CNN —Elizabeth Holmes’ last-minute bid to avoid prison was denied by an appellate court on Tuesday, paving the way for the disgraced Theranos founder to begin her sentence. In a separate ruling Tuesday, Holmes was also ordered to pay $452 million in restitution to those harmed by her crimes, including Theranos investors like media titan Rupert Murdoch. Holmes was previously ordered to turn herself into custody and begin her 11-year prison sentence on April 27 after being convicted on multiple counts of defrauding investors last January. A new prison surrender date for Holmes has not yet been set. He reported to prison last month to being serving out his nearly 13-year sentence, after losing a last-minute appeal similar to Holmes.

☆ Disgraced Theranos CEO Elizabeth Holmes must report to prison May 30
▼ + stars: | 2023-05-17 | by ( Hayden Field | ) www.cnbc.com time to read: +2 min

Former Theranos CEO Elizabeth Holmes (C) arrives at federal court with her partner Billy Evans (R) and mother Noel Holmes on November 18, 2022 in San Jose, California. Elizabeth Holmes, the disgraced CEO of Theranos, must report to prison May 30, according to a ruling issued Wednesday by U.S. District Judge Edward Davila. On Tuesday, an appeals court rejected Holmes' bid to stay out of prison while she appeals her conviction. In another ruling Tuesday, Davila ordered that Holmes and former Theranos executive Ramesh "Sunny" Balwani pay $452 million in restitution to victims. Balwani was sentenced to nearly 13 years in prison in July, after being convicted of 12 counts of fraud, and began his sentence in April.

☆ No prison yet for Elizabeth Holmes following last-ditch appeal
▼ + stars: | 2023-04-26 | by ( Scott Cohn | ) www.cnbc.com time to read: +3 min

Late Tuesday, Holmes' attorneys appealed that ruling to the U.S. 9th Circuit Court of Appeals in San Francisco. Under the court's rules, that means Holmes will remain free on bail for now. In their last-minute appeal, Holmes' attorneys said Davila's ruling contained "numerous, inexplicable errors," including referring to "patient fraud counts" when Holmes was acquitted on the charges that she defrauded Theranos patients. This week, the National Association of Criminal Defense Lawyers filed a brief in support of Holmes' appeal. The government has until May 3 to respond to Holmes' appeal of the conviction.

U.S. District Judge Edward Davila sentenced Holmes to 11 years and three months in prison in November. "Contrary to her suggestion that accuracy and reliability were central issues to her convictions, Ms. Holmes’s misrepresentations to Theranos investors involved more than just whether Theranos technology worked as promised," he said. In denying the release appeal, Davila noted that Holmes was unlikely to flee or endanger the community. Prosecutors said during the trial that Holmes misrepresented Theranos' technology and finances. On appeal, Holmes plans to challenge several of the judge's rulings, including his allowance of evidence about Theranos' test accuracy that postdated her statements to investors.

☆ Theranos Founder Elizabeth Holmes’s Bid to Stay Out of Prison Is Denied
▼ + stars: | 2023-04-11 | by ( Meghan Bobrowsky | ) www.wsj.com time to read: +1 min

The federal judge who oversaw the criminal-fraud trial of Theranos Inc. founder Elizabeth Holmes denied her request to stay out of prison while she appeals her guilty verdict. Ms. Holmes was found guilty on three counts of fraud and one count of conspiracy to commit fraud against Theranos investors in January 2022. Judge Davila sentenced her in November to more than 11 years in prison and ordered her to surrender to prison April 27. She now could take her request directly to the Ninth U.S. Circuit Court of Appeals, which has already denied Ramesh “ Sunny” Balwani ’s request to stay out of prison while he appeals his conviction for defrauding Theranos investors and patients.

☆ Elizabeth Holmes must report to prison this month while waiting out her appeal, judge rules
▼ + stars: | 2023-04-11 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +3 min

CNN —A judge on Monday denied Elizabeth Holmes’ request to remain free while she appeals her conviction, setting the stage for the disgraced Theranos founder to report to prison later this month. Davila previously ordered Holmes to turn herself into custody on April 27, 2023. Balwani’s request to remain out of prison during his appeal was also denied, and he has been ordered by Davila to surrender to prison on April 20. Holmes’ trial was initially delayed multiple times, due to the onset of the coronavirus pandemic and then because of her pregnancy. Following her sentencing in November, Holmes sought to delay the start of her prison term after giving birth to her second child.

☆ Elizabeth Holmes' purchase of a one-way flight to Mexico was a 'bold move,' judge says in ruling that denied her request to remain free on bail
▼ + stars: | 2023-04-11 | by ( Kate Duffy | ) www.businessinsider.com time to read: +3 min

Elizabeth Holmes's request to remain free on bail was denied on Monday by a US judge. The judge described Holmes' one-way ticket to Mexico a "bold move" and "ill-advised." Holmes, who was sentenced in November to 11 years and three months in prison, requested in December to remain free during her appeal. In a court ruling filed on Monday, US District Judge Edward Davila said the flight wasn't an attempt to flee, but was "ill-advised" nonetheless. Ramesh "Sunny" Balwani, Theranos' former president and chief operating officer, also had his request to remain free on bail during his appeal denied, according to a court filing in March.

☆ Theranos' Elizabeth Holmes loses bid to stay out of prison
▼ + stars: | 2023-04-11 | by ( ) www.cnbc.com time to read: +4 min

Disgraced Theranos CEO Elizabeth Holmes has been rebuffed in her attempt to stay out of federal prison while she appeals her conviction for the fraud she committed while overseeing a blood-testing scam that exposed Silicon Valley's dark side. The judge's decision means Holmes, 39, will have to surrender to authorities April 27 to start the more than 11-year prison sentence that Davila imposed in November. Holmes could still file another appeal of the ruling Davila's latest ruling, a maneuver that her co-conspirator at Theranos – Ramesh "Sunny" Balwani – successfully used to delay his scheduled March 16 date to begin a nearly 13-year prison sentence. Davila has recommended that Holmes serve her sentence in a Byron, Texas, prison. Although they had separate trials, Holmes and Balwani were accused of essentially the same crimes centered on a ruse touting Theranos' blood-testing system as a breakthrough in health care.

☆ Elizabeth Holmes is set to report to prison later this month after a judge denied her request to remain free on bail while she appeals her conviction
▼ + stars: | 2023-04-11 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +3 min

Theranos founder Elizabeth Holmes is set to report to prison in a matter of weeks. On Monday, a judge denied her request to remain free on bail while she appeals her conviction. Holmes was convicted on 4 counts of fraud and conspiracy and sentenced to more than 11 years in prison. Late Monday, a judge denied the Theranos founder's request to remain free on bail during her appeal. Balwani is set to report to prison on April 20, and Holmes must surrender a week later, on April 27.

☆ Lawsuit claims Elizabeth Holmes owes more than $25 million to Theranos creditors, report says
▼ + stars: | 2023-03-18 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +3 min

Elizabeth Holmes owes creditors of her failed startup Theranos more than $25 million, CNBC reported. It emerged as Holmes appeared in court Friday seeking to delay her date to report to prison. According to the report, Holmes made three written promises to repay creditors while she was still CEO. The lawsuit came to light after Holmes was approached in court in San Jose, California on Friday, CNBC reported. Prosecutors are seeking restitution of almost $900 million for investors in Theranos, per The AP.

☆ Elizabeth Holmes owes over $25 million to Theranos, lawsuit says
▼ + stars: | 2023-03-17 | by ( Yasmin Khorram | ) www.cnbc.com time to read: +3 min

Former Theranos CEO Elizabeth Holmes (C) arrives at federal court with her mother Noel Holmes (L) and father Christian Holmes on September 01, 2022 in San Jose, California. Elizabeth Holmes hasn't paid back over $25 million to creditors of her former Theranos company as she tries to delay her 11-year prison sentence, according to a lawsuit. According to the breach of contract suit, Holmes executed three promissory notes while she was CEO of the failed blood-testing company. The promissory notes were as follows, according to the lawsuit:August 2011 in the amount of $9,159,333.65. Holmes founded Theranos in 2003 after dropping out of Stanford, with the promise of revolutionizing the healthcare industry.

☆ Convicted fraudster Elizabeth Holmes welcomes second child and she's pushing to delay prison
▼ + stars: | 2023-02-26 | by ( Jordan Hart | ) www.businessinsider.com time to read: +2 min

Holmes was sentenced to over 11 years in prison while pregnant with second child in November. In a court filing this week, her legal team said Holmes has "two young children," according to Mercury News. Holmes is seeking to extend her freedom past the day she's due to prison in April. Holmes gave birth to her first child in July 2021 while awaiting trial for her charges. The company's valuation shot up to $9 billion before Holmes and fellow Theranos executives were charged with fraud in 2018.

☆ FTC Abandons Challenge to Meta’s Acquisition of Virtual-Reality Startup
▼ + stars: | 2023-02-24 | by ( Jan Wolfe | ) www.wsj.com time to read: 1 min

The FTC had argued that Meta Platforms Inc. purchase of Within Unlimited would hurt competition in the market for virtual-reality fitness products. WASHINGTON—The Federal Trade Commission on Friday dropped its last remaining effort to block Meta Platforms Inc.’s acquisition of a virtual-reality startup, handing a final victory to the Facebook parent. The announcement that the agency was abandoning an administrative proceeding against the deal came less than a month after a federal judge denied the FTC’s request for a court order halting Meta’s purchase of Within Unlimited. That ruling by U.S. District Judge Edward Davila didn’t directly affect the parallel challenge brought by the FTC in its in-house administrative court, and it had been unclear if the agency would push forward with the administrative case.

[1/2] A person uses virtual reality headset at Meta stand during the ninth Summit of the Americas in Los Angeles, California, U.S., June 8, 2022. The FTC sued Meta in July to stop the Within deal, arguing that Meta's purchase would reduce competition in a new market. Judge Edward Davila of the U.S. District Court for the Northern District of California rejected the FTC's concerns, and declined to order a preliminary injunction. The FTC's effort had been seen as a test of the agency's ability to prevent Meta from acquiring small would-be rivals. Reporting by Diane Bartz in Washington Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Circuit Court of Appeals in San Francisco over the Cambridge Analytica scandal, where data for up to 87 million users was accessed. Investors claimed that Facebook, as the company was known, misled them in 2016 by describing data breaches as a mere "risk," when it knew that Cambridge had accessed user data. "It's not plausible that the company was trying to mislead the public about something the public already knew," he said. Facebook paid more than $5 billion in penalties to U.S. authorities over Cambridge Analytica. It agreed to pay $725 million to settle a lawsuit by Facebook users in December.

☆ U.S. FTC will not appeal decision allowing Meta to purchase VR content maker Within
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, Feb 6 (Reuters) - The U.S. Federal Trade Commission (FTC) said it will not appeal its loss in federal court in its fight to stop Meta Platforms (META.O) from buying VR content maker Within Unlimited, but could still pursue the case with an internal FTC administrative law judge. Judge Edward Davila of the U.S. District Court for the Northern District of California last week declined to stop Meta from acquiring the VR content maker, rejecting the regulator's concerns the deal would reduce competition in a new market. An FTC official said that no decision had yet been made as to whether the agency would try to stop the deal in a process before an FTC administrative law judge. Meta declined to comment on the decision not to appeal last week's ruling in federal court. The FTC sued Meta in July to stop the Within deal, asking the judge to order a preliminary injunction, saying Meta's "campaign to conquer VR" began in 2014 when it acquired Oculus, a VR headset manufacturer.

☆ U.S. judge denies FTC request to stop Meta from acquiring VR firm Within
▼ + stars: | 2023-02-04 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, Feb 3 (Reuters) - A judge on Friday released a ruling denying the Federal Trade Commission's request to stop Meta Platforms Inc (META.O) from buying virtual reality content maker Within Unlimited, rejecting the regulator's concerns the deal would reduce competition in a new market. A Meta spokesperson said the Facebook and Instagram owner was "pleased that the Court has denied the FTC’s motion to block our acquisition of Within." "Though Meta boasts considerable financial and VR engineering resources, it did not possess the capabilities unique to VR dedicated fitness apps, specifically fitness content creation and studio production facilities," the judge wrote. The decision is good news for Meta boss and founder Mark Zuckerberg, who defended the acquisition in testimony in December, arguing that his company was helping to build but not dominate the virtual reality industry. The FTC sued Meta in July to stop the Within deal, asking the judge to order a preliminary injunction, saying Meta's "campaign to conquer VR" began in 2014 when it acquired Oculus, a VR headset manufacturer.

Search resuls for: "Edward Davila"

25 mentions found