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☆ Pharma giant GSK plunges 9% after U.S. court allows scientific testimony in Zantac lawsuits
▼ + stars: | 2024-06-03 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Company logo of pharmaceutical company GlaxoSmithKline is seen at their Stevenage facility, Britain October 26, 2020. LONDON — Shares of British pharmaceuticals giant GSK plunged 9% Monday, after a U.S. court ruled that scientific evidence could be presented in a stack of lawsuits relating to the discontinued heartburn drug Zantac. The Delaware State Court late on Friday ruled that plaintiffs' expert witnesses could testify in the roughly 75,000 cases alleging the once-popular drug ranitidine — sold under the brand name Zantac in the U.S. — may cause cancer. The companies involved deny there is a scientific consensus that the drug can be linked to any later development of cancers. In a statement Friday, GSK said it disagreed with the latest Delaware ruling and would immediately seek an appeal.

Persons: ranitidine —, Brent Wisner, Wisner Baum, Zantac Organizations: GlaxoSmithKline, Stevenage, GSK, Delaware State Court, France's, Pfizer, Germany's Locations: Britain, Delaware, U.S, France's Sanofi

☆ Stocks making the biggest moves midday: GameStop, Paramount, Spotify, Krispy Kreme and more
▼ + stars: | 2024-06-03 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

Waste Management , Stericycle — Waste Management is buying Stericycle for $7.2 billion , the companies announced on Monday. Stericycle shares jumped nearly 15%, while Waste Management slid 4%. Spotify — The music streaming company climbed 4% following its announcement of premium subscription price increases in the U.S. in July. Lattice Semiconductor , Coherent — Lattice shares dove 11% after CEO Jim Anderson left to take the helm at Coherent, whose stock price jumped 17%. Krispy Kreme — Shares of the company rose 2% after it was upgraded to overweight at JPMorgan.

Persons: Keith Gill, Gill, Stericycle, CNBC's David Faber, Skydance, Shari Redstone, Jim Anderson, Esam, Dickinson, Edwards, Narendra Modi, Claudia Sheinbaum, Cava, Blackwell, Krispy Kreme, Masimo, Piper, Piper Sandler, Goldman Sachs, Goldman, — CNBC's Sean Colon, Yun Li, Pia Singh, Michelle Fox, Christina Cheddar, Berk Organizations: GameStop, DeepF, AMC, New York Stock Exchange, Waste Management, Spotify, GSK, Court, Paramount Global, Lattice Semiconductor, Company, Bloomberg News, JPMorgan, Nvidia, AMD, Bank of America, Therapeutics, Autodesk Locations: U.S, Swedish, Delaware, Becton, India, Mexico

☆ Sanofi to settle 4,000 Zantac cancer lawsuits in US state courts
▼ + stars: | 2024-04-05 | by ( ) edition.cnn.com time to read: +3 min

Sanofi has reached an agreement in principle to settle 4,000 US lawsuits linking the discontinued heartburn drug Zantac to cancer, the company said on Wednesday. Sanofi still faces about 20,000 lawsuits over Zantac in Delaware state court. That judge concluded that the opinions of the plaintiffs’ expert witnesses that Zantac can cause cancer were not supported by sound science. “We are pushing forward aggressively against GSK and Boehringer Ingelheim and are preparing for multiple trials in California state court this year,” Moore said. Lawsuits began piling up from people who said they developed cancer after taking Zantac.

Persons: Sanofi, “ Sanofi, Boehringer, Boehringer Ingelheim, Jennifer Moore, Brent Wisner, ” Moore, Zantac, ranitidine Organizations: Court, Sanofi, GSK, Pfizer, Boehringer, US Food and Drug Administration Locations: Delaware, Zantac, Wilmington, Florida, California

☆ Jeff Bezos dethrones Elon Musk to become the richest person on earth again
▼ + stars: | 2024-03-04 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +1 min

New York CNN —Jeff Bezos has reclaimed the title of the richest person on earth, surpassing Elon Musk, according to the Bloomberg Billionaires Index on Monday. The Amazon founder’s net worth was $200 billion, while Musk followed at $198 billion. Musk has lost about $31 billion over the past year, while Bezos has gained $23 billion, according to the index. The three centibillionaires — Musk, Arnault and Bezos — have been in competition with each other for the top spot for months. Of course, the title of the richest person on earth swaps every few months, depending on markets performance.

Persons: Jeff Bezos, Elon, Musk, Bezos, Bernard Arnault, Louis Vuitton, Dior, Celine, Arnault, Michelle Toh, Tami Luhby, Chris Isidore Organizations: New, New York CNN, Bloomberg Locations: New York, Delaware

☆ Lawsuits Threaten to Delay Trump Media’s Merger
▼ + stars: | 2024-03-01 | by ( Matthew Goldstein | ) www.nytimes.com time to read: +1 min

A rash of lawsuits are threatening to stall a shareholder vote on the long-delayed merger of former President Donald J. Trump’s social media company and a cash-rich shell company. Two early founders of Trump Media & Technology Group have filed suit to preserve their ownership stake in the business, the parent company of the Truth Social online posting platform. The lawsuit, filed Wednesday under seal in Delaware Chancery Court by a partnership led by Wes Moss and Andy Litinsky, claims that Trump Media is trying to dilute its ownership stake in the company, of which Mr. Trump is a majority shareholder. The lawsuit seeks an expedited hearing in Delaware state court ahead of a March 22 vote by shareholders of Digital World Acquisition Corp. on its merger with Trump Media. Mr. Moss and Mr. Litinsky were contestants on Mr. Trump’s realty television show, “The Apprentice,” and went to him in January 2021 with the idea of creating a social media company.

Persons: Donald J, Wes Moss, Andy Litinsky, Trump, . Moss, Litinsky, ” Organizations: Trump Media & Technology Group, Trump Media, Digital, Trump’s realty Locations: Delaware Chancery, Delaware

☆ Judge strikes down Elon Musk’s massive, multi-billion-dollar pay package
▼ + stars: | 2024-01-30 | by ( Chris Isidore | ) edition.cnn.com time to read: +5 min

New York CNN —A Delaware state court judge has thrown out the 2018 pay package that helped to make Tesla CEO Elon Musk one of the richest people in the world. He said Tesla investors will benefit from the decision by having the “dilution from this gargantuan pay package erased.”Attorneys for Musk and the Tesla board argued the pay package was approved by a shareholder vote. Excluding the votes owned by Musk and his brother, 73% of the shares voting in that election supported the pay package. The company’s market cap was valued at $54 billion at the time the pay package was approved. Robyn Denholm, the chair of Tesla’s board, testified that the pay package was all about keeping Musk focused on Tesla.

Persons: Elon Musk, Chancellor Kathaleen McCormick, Musk, Tesla, “, ”, Greg Varallo, McCormick, ” Musk, Robyn Denholm, ” Denholm, – CNN’s Matt McFarland Organizations: New, New York CNN, Musk, Delaware Supreme, SpaceX, Twitter, Boring, Tesla Locations: New York, Delaware, . Delaware, Tesla

☆ Fox News paid a record-breaking sum to settle Dominion's defamation lawsuit. Smartmatic could get even more money.
▼ + stars: | 2023-07-17 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +10 min

The settlement Fox News may pay to Smartmatic could be around $1 billion, experts say. Disney's $177 million settlement for the infamous "pink slime" lawsuit in 2017 dropped to second place. Experts told Insider that the $787.5 million settlement is a strong benchmark for Smartmatic — and that Smartmatic will likely get more. Either way you slice it, using those baseline numbers brings you above the $787.5 million figure Fox paid to settle Dominion's lawsuit. "It's hard to extrapolate from the Dominion case in part because it never got litigated," Hans said.

Persons: Smartmatic, Erik Connolly, Connolly, Donald Trump, Sidney Powell, Rudy Giuliani, Joe Biden, Powell, Giuliani, Fox, Clay Calvert, James Goodale, Smartmatic's, Rupert Murdoch, Victoria Jones, Calvert, Erik McGregor, Hans, Goodale, Plimpton, De, Murdoch Organizations: Fox News, Dominion, Dominion Voting, Trump, Fox, American Enterprise Institute, New York Times, Fox Corp, Getty, Cornell Law, Debevoise Locations: cahoots, Delaware, New York, Washington ,, Africa, Europe, Smartmatic, Fox News's, York

NEW YORK, July 12 (Reuters) - An Arizona man filed a defamation lawsuit against Fox News on Wednesday, alleging the network spread a conspiracy theory that he played a key role in the violent storming of the U.S. Capitol by supporters of former U.S. President Donald Trump. This years-long campaign of disinformation, Epps claims in his suit, "destroyed" the lives of Epps and his wife. The lawsuit in Delaware state court comes as voting technology company Smartmatic is suing Fox for defamation, and several months after the company settled defamation claims brought by Dominion Voting Systems for $787.5 million. The company acknowledged the court found some Fox claims about Dominion were false. Carlson told viewers in January 2022 that Epps was a "central figure" in the attack and "helped stage-manage the insurrection," according to the lawsuit.

Persons: Donald Trump, Ray Epps, Fox, Trump, Epps, Abby Grossberg, Tucker Carlson, Carlson, Helen Coster, Jack Queen, Tom Hals, Jamie Freed Organizations: YORK, Fox News, U.S, Capitol, Trump, FBI, Dominion Voting Systems, Fox, Dominion, Fox Corp, United States Capitol, Thomson Locations: An Arizona, Delaware, Washington, New York, Wilmington , Delaware

[1/2] Former U.S. President Donald Trump's White House chief strategist Steve Bannon attends his arraignment at the New York Criminal Courthouse in New York, U.S., September 8, 2022. Steven Hirsch/Pool via REUTERS/File PhotoJuly 12 (Reuters) - Steve Bannon and Michael Flynn, two allies of former U.S. President Donald Trump, must answer questions under oath in voting technology company Smartmatic's defamation lawsuit against right-wing media outlet Newsmax, court records showed on Wednesday. Florida-based Smartmatic served subpoenas on Bannon, who served as a White House strategist under Trump, and Flynn, who briefly served as national security adviser, on Wednesday, according to documents filed in Delaware state court. Bannon and Flynn representatives did not immediately respond to requests for comment, nor did Smartmatic and Newsmax. Bannon, an influential figure on the American right, worked on Trump's 2016 campaign and later in the White House.

Persons: Donald Trump's, Steve Bannon, Steven Hirsch, Michael Flynn, Donald Trump, Smartmatic, Bannon, Flynn, Joe Biden, Trump, Mike Pence, Jack Queen, Will Dunham Organizations: U.S, House, New, Criminal, Trump, Democratic, Fox, Fox News, Fox Corp, Dominion Voting Systems, Capitol, U.S ., Army, White House, FBI, Thomson Locations: New York, U.S, . Florida, Delaware, Russian, United States

☆ Fox News agrees to pay $12 million to settle ex-producer's lawsuit alleging 'sexist' work environment
▼ + stars: | 2023-06-30 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +4 min

Fox News agreed to pay $12 million to settle a hostile workplace lawsuit from Abby Grossberg. Grossberg alleged she experienced a "sexist" environment at Fox and says lawyers coerced her testimony for Dominion's lawsuit. One lawsuit, filed in Manhattan federal court, alleged rampant workplace sexism. Grossberg withdrew her Delaware lawsuit shortly after Fox agreed to settle Dominion's lawsuit for the record-breaking sum of $787.5 million. Grossberg's case threw a wrench in the lawsuit between Dominion and Fox News.

Persons: Abby Grossberg, Grossberg, —, Maria Bartiromo, Tucker Carlson, Parisis Filippatos, Nancy Pelosi, Rudy Giuliani, Carlson, Kevin McCarthy, Wells, Jack Smith, Donald Trump's, Filippatos Organizations: Fox News, Fox, Trump, Service, News, New York Times, Network, Dominion Voting Systems, New, Dominion, Republican, Times Locations: Manhattan, Delaware, New York, Smartmatic

☆ Disinformation researcher who led now-defunct DHS unit sues Fox News for defamation
▼ + stars: | 2023-05-10 | by ( Oliver Darcy | ) edition.cnn.com time to read: +3 min

The researcher, Nina Jankowicz, briefly served in the Biden administration as head of the now-defunct Disinformation Governance Board, which was housed in the Department of Homeland Security. The lawsuit is the latest in a series of high-profile defamation cases brought against Fox News in recent years. The network last month settled a lawsuit filed by Dominion Voting Systems for $787.5 million, the largest publicly known settlement in US history. Smartmatic’s case survived a motion to dismiss filed by Fox News last year and continues to move through the court system. Lachlan Murdoch, the chief executive of Fox Corporation, the parent company of the right-wing channel Fox News, said on Tuesday that the company will fight Smartmatic’s lawsuit.

March 7 (Reuters) - Fox Corp (FOXA.O) Chairman Rupert Murdoch questioned whether hosts Sean Hannity and Laura Ingraham “went too far” in their coverage of voter fraud claims, according to an email contained in a trove of new exhibits in Dominion Voting Systems’ lawsuit against Fox that became public Tuesday. The exhibits unsealed Tuesday contain evidence underlying the parties’ dueling motions for summary judgment, in which they seek pretrial rulings in their favor. The new documents also include more context of testimony and messages that Fox claimed Dominion had “cherry-picked” and “misrepresented” in its filing. Dominion has alleged Fox continued to push the stolen election narrative because it was losing viewers to right-wing outlets that embraced it. Fox argued in court filings that its coverage of claims by Trump's lawyers were inherently newsworthy and protected by the First Amendment of the U.S. Constitution.

☆ In Deposition, Rupert Murdoch Says Fox News Hosts Endorsed False 2020 Election Claims
▼ + stars: | 2023-02-28 | by ( Erin Mulvaney | Keach Hagey | ) www.wsj.com time to read: 1 min

Rupert Murdoch said Fox News commentators endorsed the idea of a stolen election to varying degrees, according to a deposition. Rupert Murdoch said some Fox News hosts and commentators endorsed the false narrative that the 2020 election was stolen, according to testimony in an ongoing defamation lawsuit. Voting-machine company Dominion Voting Systems is suing Fox News for defamation, over false claims made on the network’s air that its technology enabled widespread fraud in the election. The new details emerged in briefs in which the companies laid out evidence they plan to present to a Delaware state court.

Feb 27 (Reuters) - Fox Corp Chairman Rupert Murdoch acknowledged under oath that some Fox hosts "endorsed" the notion that the 2020 U.S. presidential election was stolen, according to a court filing unsealed Monday. Documents in the case in Delaware state court show Murdoch and other Fox executives believed Joe Biden fairly beat Donald Trump and that the results were not in doubt. Asked by a Dominion lawyer if some of Fox’s commentators had endorsed the idea that the 2020 election was stolen, Murdoch responded, “Yes. Dominion claims in its filing that Murdoch closely monitored Fox coverage but declined to wield his powerful editorial influence despite strong concerns about Fox's coverage. Murdoch testified that he believed early on that "everything was on the up-and-up" with the election, and that he doubted claims of election fraud from the very beginning.

☆ Fox News hosts and executives privately mocked pro-Trump election conspiracy theories after he lost, internal texts show
▼ + stars: | 2023-02-17 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +12 min

It enrages me," Tucker Carlson wrote in a text message to his producer Alex Pfeiffer. "Not a single Fox witness testified that they believe any of the allegations about Dominion are true," Dominion lawyers wrote. Imho they need to address but wtf do I know," Hannity wrote in a text message, referring to Newsmax. That email, Dominion's lawyers write, came from an unnamed author who claimed to be a beheaded ghost who talks to the wind. President Trump not only was the sitting President, he was the key figure that day," Dominion's lawyers wrote.

“From the top down, Fox knew ‘the dominion stuff’ was ‘total bs,’” Dominion wrote in its filing for summary judgment in its favor. Dominion must prove that the network either knew the statements it aired were false or recklessly disregarded their accuracy. Dominion said in its brief that Murdoch internally described the election claims as “really crazy” and “damaging,” but declined to wield his editorial power to stop them. In its summary judgment filing, Fox argued that Trump’s claims about the election were “undeniably newsworthy” and that viewers understood they were merely being reported as allegations. Fox also argued that Dominion’s suit advances overbroad interpretations of defamation law, takes quotes from its coverage out of context and ignores its reporting of Dominion’s rebuttals to the false claims.

☆ Paul Ryan will be deposed in Dominion's $1.6 billion defamation lawsuit against Fox News over election conspiracy theories
▼ + stars: | 2023-01-30 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +3 min

Dominion is scheduled to depose Paul Ryan in its lawsuit against Fox News. The company alleges Fox News pushed false conspiracy theories about its role in the 2020 election. Ryan joined the Fox Corporation board of directors in 2019 after choosing not to run for re-election in the 2018 midterms. A Friday court filing also shows that Dominion is soon scheduled to depose Raj Shah, another Fox Corporation executive. Dominion deposed Fox Corporation chairman Rupert Murdoch over two days, on January 19 and 20, court records show.

☆ Elon Musk is being sued over his ‘funding secured’ tweet. Here’s what you need to know
▼ + stars: | 2023-01-17 | by ( Chris Isidore | ) edition.cnn.com time to read: +5 min

New York CNN —A four-year old tweet from Elon Musk has the Tesla CEO back in court starting Tuesday. Musk, Tesla and other Tesla directors are facing a shareholder lawsuit over his now-infamous 2018 tweet, which said that he was thinking about taking Tesla private at a price of $420 a share. If he had ended the tweet right there, there wouldn’t still be coverage of it, or a lawsuit that seeks unspecified damages. That record close of $409.97 works out to $6,150 a share, when adjusted for the two stock splits since that day. “These numbers make clear that an impartial juror cannot feasibly be impaneled from this juror pool.”This is only the latest court case involving Musk.

Nov 16 (Reuters) - Dell Technologies Inc (DELL.N) on Wednesday said it reached a $1 billion settlement of a lawsuit accusing it of short-changing some shareholders in a controversial $23.9 billion transaction in 2018 that marked its return as a publicly traded company. The disputed December 2018 transaction involved a stock swap related to Dell's interest in software maker VMware. Dell paid $14 billion in cash and issued 149.4 million Class C shares in exchange for outstanding Class V shares, which tracked VMware's publicly traded stock. Holders of the Class V shares sought $10.7 billion in damages, saying their stock was worth far more than Dell paid for it, while the Class C stock was worth far less than Michael Dell and Silver Lake claimed. Michael Dell was worth $52 billion on Tuesday, according to Forbes magazine.

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