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Major record labels Sony Music , Universal Music Group and Warner Records sued artificial intelligence companies Suno and Udio on Monday, accusing them of committing mass copyright infringement by using the labels' recordings to train music-generating AI systems. The companies copied music without permission to teach their systems to create music that will "directly compete with, cheapen, and ultimately drown out" human artists' work, according to federal lawsuits filed against Udio in New York and Suno in Massachusetts. Representatives for Suno and Udio did not immediately respond to requests for comment on the complaints. AI companies have argued that their systems make fair use of copyrighted material. Cambridge, Massachusetts-based Suno and New York-based Udio have raised millions in funding this year for their AI systems, which create music in response to user text prompts.
Persons: Udio, Mariah Carey's, James Brown's, Michael Jackson, Bruce Springsteen, Mitch Glazier Organizations: Sony Music, Universal Music Group, Warner Records, Udio, Suno, Recording Industry Association of America Locations: New York, Suno, Massachusetts, Cambridge , Massachusetts
The Supreme Court on Monday turned away two Covid-related appeals brought by Children's Health Defense, the anti-vaccine group founded by independent presidential candidate Robert F. Kennedy Jr. In the FDA case, the group claimed in court papers that Covid vaccines were "ineffective and lacked proper vetting." Circuit Court of Appeals found that Kennedy's group did not have legal standing to sue. Kennedy is listed as a lawyer on the Rutgers filing at the Supreme Court despite his leave of absence from the group. In a separate vaccine-related case, the court also turned away a challenge to Connecticut's decision to repeal a religious exemption for school vaccinations.
Persons: Robert F, Kennedy Jr, Kennedy Organizations: Children's Health Defense, Food, Rutgers University, FDA, Circuit, Appeals, Rutgers, Democratic, Health Defense Locations: Phoenix , Arizona, New Jersey, Orleans, Philadelphia
The nation's highest court typically wraps up its business by the end of June, but court watchers count roughly a dozen major pending decisions. Trump v. United States: The Trump immunity caseThe implications for Trump alone made this the most closely-watched case this term. As Justice Neil Gorsuch said during oral arguments, the court may write "a rule for the ages." Justices heard oral arguments in a case brought by commercial fishermen about a rule requiring them to pay for monitors that track potential overfishing. Justice Elena Kagan said during oral arguments that 70 Supreme Court rulings and more than 17,000 lower-court decisions have relied on Chevron.
Persons: , Donald Trump's, Trump, Neil Gorsuch, Ketanji Brown Jackson, Jack Smith's, Smith, Lev Radin, Fischer, Joseph Fischer's, John Roberts, Loper, Raimondo, Biden, Elena Kagan, Andrew Harnik, Moyle, Roe, Joshua Turner, Ken Paxton, Brandon Bell, Ron DeSantis Organizations: Service, Trump, Business, . United, Police, United, Enron, Capitol, Electoral, Biden, Washington Post, Loper Bright Enterprises, FDA, Chevron, Natural Resources Defense, Inc, Getty, Idaho, Labor, Paxton, Industry, Gov, The Washington Post, Court, GOP Locations: . United States, United States, Pennsylvania, Chevron U.S.A, Idaho's, Idaho, Texas, Red, Florida
Insider Today: CEOs in Training
  + stars: | 2024-06-23 | by ( Matt Turner | )   time to read: +5 min
But first: On the ground at Cannes Lions, aka summer camp for the ad industry. The promenade at the Cannes Lions festival in 2023. Tristan FewingsThis week's dispatchThe biggest names in marketing made for the south of France last week for the annual Cannes Lions festival. Meet Business Insider's most innovative CMOs of 2024. The program places MBAs in leadership positions at companies within just a few weeks, and promises to turn them into CEOs in a few years.
Persons: , Goldman Sachs, Tristan Fewings, Lara O'Reilly, Julia Hood, Megan Rapinoe, Sue Bird, I'm, Jason, Travis Kelce, Taylor Swift, Jimmy Simpson, Jenny Chang, Rodriguez, It's, Brian Ach, Tyler Le, Andy Sieg, Merrill Wealth, Sieg, Jeff Bezos, Paul Souders, Devon Price Organizations: Service, Business, Cannes Lions, Yahoo, Spotify, Sport, BI, Amazon Locations: France, Sport Beach, Seattle , Washington
A New Option to Treat Sleep Apnea: Weight-Loss Drugs
  + stars: | 2024-06-21 | by ( Dani Blum | )   time to read: +1 min
Sue Clasen kept trying to manage her sleep apnea. The CPAP’s mask felt bulky and irritating — she just couldn’t sleep with it on. But when she took it off and fell asleep, her husband soon nudged her awake: Her snoring, a common symptom of sleep apnea, was so loud it woke the whole room up. The worst of her sleep apnea symptoms have vanished. More Americans with obstructive sleep apnea, the most common form of the disorder, may soon turn to weight-loss drugs.
Persons: Sue Clasen, Clasen, nudged
What's next: Media Matters filed a motion to dismiss Musk's lawsuit in March, but a judge has yet to rule. VCG/GettyGovernment lawsuits and investigationsSEC investigation into Musk's Twitter takeoverThe issues: The Securities and Exchange Commission is investigating Elon Musk's Twitter purchase. Matt Winkelmeyer/Getty ImagesPersonal lawsuits against MuskTornetta v. MuskThe issues: Tesla shareholder Richard Tornetta sued Musk and Tesla in a class action lawsuit regarding Musk's compensation package, which was worth $55.8 billion at the time. Several lawsuits also allege Musk discriminated against them because of their race, gender, or disability in choosing to fire them. The executives were set to receive golden parachutes, but claim Musk and X have not paid them out.
Persons: , Elon Musk, Musk, Claire Boucher, Grimes, Alex Spiro, Sam Altman, Donald Trump, Spiro, Anna Webber, Angelo Carusone, What's, Gina Carano, Schaerr Jaffe, Tesla, Musk's, Elon, SEC hasn't, Elon Musk's, who've, Owen Diaz, Matt Winkelmeyer, Richard Tornetta, Kimbal Musk, He's, Boucher, Benjamin Brody, Brody, Brody reverberated, Ben Brody, didn't, Robert Kaiden, Kaiden, he's, Agrawal, Parag Agrawal, Ned Segal, Twitter Vijaya Gadde, Sean Edgett, Segal, hadn't Organizations: Service, SpaceX, Business, OpenAI, SEC, Trump, Trump —, Elon, Variety, Media, X Corp, Disney, National Labor Relations Board, UAW, Tesla, Getty Government, Twitter, Securities, Exchange Commission, Justice Department, Reuters, Traffic, Administration, NHTSA, Apple, NLRB, Musk's SpaceX, US, Employment Opportunity, Musk, Nazi, Litigation Locations: Texas, Texas and Missouri, America, Nazi Germany, California, Delaware, San Francisco
In an unsigned opinion, the high court said a federal appeals court took an “overly cramped view” of an earlier precedent that control when people may sue for First Amendment retaliation claims. Normally, a person alleging retaliatory arrest must demonstrate police had not proven probable cause. In its opinion Thursday, the court ruled that Gonzalez should be allowed to present her evidence that she was arrested as retaliation for her actions. “Probable cause defeats a retaliatory arrest claim.”Prosecutors ultimately dropped the charges against Gonzalez. The Supreme Court did not immediately respond to a request for comment about Alito’s absence.
Persons: Clarence Thomas, Sylvia Gonzalez, Gonzalez, , Thomas, , ” Thomas, , Samuel Alito Organizations: CNN, Supreme, ” Prosecutors, Appeals Locations: Texas, Castle Hills , Texas
London CNN —Private schools in Britain may conjure up images of rolling lawns, pristine tennis courts, and dormitory rooms, serving as gilded hothouses of privilege. Not every private school is “synonymous with privilege and great wealth,” argues Sue Hannam, headteacher at Lichfield Cathedral School, a private school in central England. About 620,000 children are currently enrolled in private schools in Britain, equivalent to almost 6% of all school children, according to the Independent Schools Council. Hodge at the Education Policy Institute noted that, accounting for inflation, private school fees had risen by as much as 25% since 2010. Still, a demographic shift means state schools may “welcome” the influx, Sibieta wrote last year.
Persons: YouGov, , Sue Hannam, “ We’ve, , they’re, , Hannam, John Keates, we’ve, Keir Starmer, , ” Starmer, Louis Hodge, that’s, Loveena Tandon, … it’ll, it’s, Julie Robinson, they’ll, Robinson, ” Robinson, Christine Cunniffe, ” Cunniffe, Hodge, That’s, he, ” Luke Sibieta, Oli Scarff, Sibieta Organizations: London CNN — Private, Eton College, Labour Party, Eton, Labour, Lichfield Cathedral School, CNN, Lichfield, Independent Schools, Institute for Fiscal Studies, Sky News, Education Policy Institute, ISC, Ascot, Education, Institute, Getty Locations: Britain, Lichfield, England, United Kingdom, Lichfield , United Kingdom, London, , Manchester, AFP
Trump’s out of luck: No immunityThe simplest outcome would be for the Supreme Court to rule that former presidents are not entitled to immunity from criminal prosecution. Nixon and the ‘outer perimeter’ of powerBut the justices could reach more broadly by granting some degree of immunity for “official” actions. That official-versus-private debate emerged as a key component of Trump’s immunity battle and will be closely scrutinized once the opinion lands. In terms of timing, a lot would depend on the direction the Supreme Court gives Chutkan in its opinion. It could also raise the possibility of further pre-trial legal wrangling, unless the Supreme Court explicitly ruled out appeals of those decisions.
Persons: Donald Trump, , Jack Smith’s, Trump, “ Trump, , Jonathan Entin, Trump’s, John Roberts, Brett Kavanaugh –, he’s, ” Roberts, ” It’s, Neil Gorsuch, ” Kavanaugh, Nixon, Fitzgerald, Ernest Fitzgerald, Richard Nixon, Rudy Giuliani, Matthew Seligman, Alison LaCroix, , Tanya Chutkan, , ” Entin, Smith, LaCroix, we’ll, ’ ” Organizations: CNN, Trump, Case Western Reserve University’s School of Law, Appeals, DC Circuit, Supreme, Nixon, Air Force, Constitutional, Center, Stanford Law School, Security, University of Chicago Law School, US
The black T-shirt spells it out in capital letters: “Everyone Watches Women’s Sports.”In the past few months, the message has been hard to miss. Dawn Staley, the coach of the University of South Carolina’s women’s basketball team, kicked off a social media frenzy when she wore the shirt for a pregame interview in January. The comedian and actor Jason Sudeikis wore a version with yellow lettering to the women’s N.C.A.A. Jimmy Fallon got one on “The Tonight Show” as a gift from the recently retired W.N.B.A. The shirt, which was created by a company co-founded by Ms. Bird, has become an unofficial uniform as viewership of women’s basketball has soared, and women’s sports in general have seen greater momentum.
Persons: Dawn Staley, Jason Sudeikis, Jimmy Fallon, Sue Bird, Bird, Megan Ramos, , Ramos, Alex Morgan, Simone Manuel, Chloe Kim Organizations: , University of South, “ Shipping, Togethxr
A last-minute political compromise has headed off an effort to repeal a California law allowing workers to sue employers for workplace violations — a legal tool that has cost companies billions of dollars. Gavin Newsom, followed meetings with business leaders and the powerful California Labor Federation over ways to modify the 2004 law, the Private Attorneys General Act. The law, known as PAGA, lets employees file civil complaints — on their own behalf and for fellow workers — against businesses, sometimes costing them tens of millions of dollars in settlements. “We came to the table and hammered out a deal that works for both businesses and workers, and it will bring needed improvements to this system,” Mr. Newsom said in a statement on Tuesday. “This proposal maintains strong protections for workers, provides incentives for businesses to comply with labor laws and reduces litigation.”
Persons: Gavin Newsom, Mr, Newsom, Organizations: Gov, California Labor Federation Locations: California
And he'd just launched a venture with the Miami investment firm 777 Partners that he hoped would revolutionize the legal business. Arizona had recently begun permitting nonlawyers to invest in law firms, which is banned in nearly every other state. AdvertisementAllowing private-equity riches to pour into law firms looked like it could be a game changer. AdvertisementGerman said 777 didn't supply money on the terms or timeline it promised and planned. Funding and marketing firms were cutting deals with law firms in nonpublic arrangements for years before Arizona changed its rules, she added.
Persons: Steve German, nonlawyers, he'd, BerlinRosen, Uber, Andy Kvesic, Arizona's, Josh Wander, Semafor, Steven Pasko, Lynda Shely, Shely, Ed Gehres, Damien Alfalla Organizations: Service, Partners, Scout Law, Scout, Regulators, DOJ, Globo Locations: Phoenix, Miami, Arizona, State
It’s just purchasing property,” Bian, who is originally form Nanjing, China, said. Bian and other Florida residents told CNN that the rules have fostered uneasiness and confusion among ethnic Chinese people living in the state. Some say the law has damaged their businesses, while others say they are considering abandoning Florida altogether. Ever since Florida Senate Bill 264 went into effect on July 1, 2023, Chinese citizens without green cards face a felony charge and possible prison time if they purchase property in the state. For Chinese citizens without the permanent right to live in the US, specifically, the law goes a step further, barring the group from purchasing any property in the state.
Persons: CNN —, Jin Bian, Bian, , Ron DeSantis, isn’t, Bill 264, Sellers, , Echo King, ” DeSantis, Clay Zhu, ” Zhu, Susan Li, Li, TikTok, Glenn Youngkin, Teresa Jin, ” Jin Organizations: CNN, Echo, Florida Asian American Justice Alliance, United, Chinese Communist Party, CCP, American Civil Liberties Union, US, US Department of Agriculture, Virginia Republican Locations: Tampa , Florida, Nanjing, China, Florida, Russia, Iran, North Korea, Cuba, Venezuela, Syria, “ Florida, United States, People’s Republic of China, Orlando , Florida, Montana, Virginia, California
Louisa Rogers is intentional about strengthening connections with old friends. Courtesy Louisa RogersAlways be open to new connectionsI keep an eye out for potential candidates because I've lost friends to moves and deaths. Stay connected with old friends online and in personWhile I was growing up, my family moved a lot, so I treat old friends as my roots. Focus more on individual friends than couple friendsBarry and I don't have many couple friends, and for a long time it bothered me that we've rarely been part of what our single friends call the "couple culture." But I find couple friends to be overrated — a four-way quadrant dynamic is usually less intimate than a one-on-one or three-way connection.
Persons: Robbie, we'll, Barry, we've, Beth, Sue, Louisa Rogers, I've, I'd Organizations: Business, Girl Scouts Locations: Eureka , California, Eureka ., East Coast, Guanajuato, Mexico
While not an official tally, the Lesbian Bar Project aims to amplify and keep track of these spaces, which can register with the project. In the South, The Lipstick Lounge, Tennessee’s only bar registered with the Lesbian Bar Project, is in Nashville’s hip East End neighborhood. By the end of Burton’s trip, she found that the narrative of “dying lesbian bars” was maybe not totally accurate. “Sometimes it’s a physical shift from a lesbian bar to a bar that sometimes holds … queer or lesbian nights,” Burton said. Though the two are married, they don't classify their bar as a lesbian bar.
Persons: Sade, Tracy Chapman croon, Erin Karcher, , Karcher, Joy Carter, ” Carter, it’s, ” Karcher, Lillian Faderman, you’re, “ We’re, , ” There’s, We’re, Krista Burton, Moby Dyke, , isn’t, ” Burton, Burton, bartenders, Sue Ellen’s, Shamecca, they’ve, who’ve, ” Le’Teshia, Herz, Kimberly McKeand, CBS42, Le’Teshia, Christa Suppan, ” Suppan Organizations: CNN, Durham Performing Arts Center, Lesbian, Nucleus, Lesbian Bar, Gallup, Stonewall, Mobile Locations: Durham, Raleigh, North Carolina , Texas, Tennessee, Chicago, San Francisco, Durham , North Carolina, Georgia, Atlanta, Washington, North Carolina, New York, Seattle, America, Herz, Mobile , Alabama, Tulsa , Oklahoma, Dallas, Richmond , Virginia, Mobile, Gulf, Florida, Mississippi, , Virginia, Richmond
In the mifepristone case, Kacsmaryk’s initial ruling was notable not just for its sweeping nature but in how he embraced the anti-abortion movement’s sensational rhetoric about the procedure. The groups fighting mifepristone argue that the Supreme Court’s decision shouldn’t affect the states’ ability to sue. Both the FDA and several medical groups, including the American Medical Association, told the Supreme Court that mifepristone is safe. But the Supreme Court knocked that argument aside, noting that federal law already allows doctors to avoid performing procedures that violate their conscience. Adam Unikowsky, a veteran Supreme Court litigator who has closely followed the mifepristone case, predicted it will be hard for the states to get the issue back before the Supreme Court.
Persons: Matthew Kacsmaryk, Donald Trump, , Carrie Flaxman, Brett Kavanaugh, mifepristone, ” Kavanaugh, Roe, Wade, Kansas –, Andrew Bailey, Kacsmaryk, Joe Biden’s, Biden, it’s, ” Julia Kaye, Erin Hawley, , , Adam Unikowsky, litigator, Unikowsky, They’re, ” Jaime Santos, Goodwin, “ that’s, Kavanaugh, isn’t Organizations: CNN, Trump, mifepristone, Supreme, Food, Democracy Forward, and Drug Administration, Republican, Alliance for Hippocratic, Biden, ACLU, Defending, FDA, American Medical Association Locations: Texas, Amarillo, – Missouri, Idaho, Kansas, Missouri, Texas ’, Mexico, Missouri , Idaho
The Supreme Court justices suggested that abortion opponents had other ways to seek stricter rules for abortion drugs in the court’s unanimous ruling that rejected a group of anti-abortion organizations and doctors challenging the Food and Drug Administration’s current regulations for a widely used pill. Much of Kavanaugh’s opinion covered the various legal thresholds a plaintiff must reach to make it appropriate for courts to intervene in a dispute. He noted that federal law already protects individual health care providers who have objections to performing abortions for moral reasons. “In short, given the broad and comprehensive conscience protections guaranteed by federal law, the plaintiffs have not shown—and cannot show—that FDA’s actions will cause them to suffer any conscience injury,” Kavanaugh wrote. Justice Clarence Thomas wrote a concurrence to bring up other issues he had with the anti-abortion groups’ standing claims.
Persons: Brett Kavanaugh, , Kavanaugh, ” Kavanaugh, Clarence Thomas Organizations: Food, Legislative
As those bans helped propel the demand for medication abortion, mifepristone became a logical target for the anti-abortion movement. None of those lower court rulings went into effect because the Supreme Court intervened last year and ordered that the status quo around mifepristone remain in place until the justices reviewed the case. The Supreme Court heard arguments in March. Both the FDA and several medical groups, including the American Medical Association, told the Supreme Court that mifepristone is safe. The mifepristone appeal was one of two abortion cases the high court was considering this month.
Persons: Roe, Wade, Brett Kavanaugh, , ” Kavanaugh, Kavanaugh, , Clarence Thomas, mifepristone, Donald Trump, Matthew Kacsmaryk, , , Kacsmaryk, Biden, Steve Vladeck, Joe Biden Organizations: CNN, Food, Legislative, Trump, FDA, US, American Medical Association, Alliance for Hippocratic, University of Texas School of Law, Jackson, Health Organization, Biden Locations: Texas, mifepristone, Amarillo , Texas, Dobbs v, Idaho
OpenAI adds former NSA chief to its board
  + stars: | 2024-06-13 | by ( Hayden Field | )   time to read: +2 min
OpenAI on Thursday announced its newest board member: Paul M. Nakasone, a retired U.S. Army general and former director of the National Security Agency. Nakasone was the longest-serving leader of the U.S. Cyber Command and chief of the Central Security Service. The company said Sarah Friar, previously CEO of Nextdoor and finance chief at Square, is joining as chief financial officer. OpenAI also hired Kevin Weil, an ex-president at Planet Labs, as its new chief product officer. Weil was previously a senior vice president at Twitter and a vice president at Facebook and Instagram.
Persons: Paul Nakasone, OpenAI, Paul M, Nakasone, OpenAI's, Adam D'Angelo, Larry Summers, Bret Taylor, Sam Altman, Sue Desmond, Hellmann, Melinda Gates, Nicole Seligman, Fidji Simo, Siri, Sarah Friar, Friar, Kevin Weil, Weil Organizations: National Security Agency, Intelligence, Capitol, U.S . Army, U.S . Cyber Command, Central Security Service, Security, Sony, Monday, Apple, Planet Labs, Twitter, Facebook Locations: Washington, U.S
The Supreme Court’s unanimous decision ensuring access to an abortion pill took no position on its safety or morality. Instead, Justice Brett M. Kavanaugh, writing for the court, focused entirely on standing. That is the legal doctrine that requires plaintiffs to show that they have suffered direct and concrete injuries in order to sue. Justice Antonin Scalia, who died in 2016, once succinctly summarized the standing doctrine, saying it requires plaintiffs to answer this question: “What’s it to you?”The plaintiffs in the case, doctors and medical associations who oppose abortion, had no good answer to that question, Justice Kavanaugh wrote. Their main theory was that there was a statistical possibility that some doctors may at some point work in an emergency room and have to treat patients suffering from complications after taking the pill, subjecting the doctors to “enormous stress and pressure” and putting making them choose between their consciences and their professional obligations.
Persons: Brett M, Kavanaugh, Antonin Scalia
The Supreme Court Upheld Broad Abortion Pill Access
  + stars: | 2024-06-13 | by ( Matthew Cullen | )   time to read: +1 min
In a unanimous decision today, the Supreme Court rejected an effort to sharply curtail access to mifepristone, a medication used in a majority of abortions in the U.S. The decision was a victory for supporters of abortion access: The pill will remain widely available, for now. Kavanaugh did not, however, rule out the possibility that states could pursue other challenges to curtail access to the drug. Anti-abortion activists said after the ruling that they would keep trying to unravel the Food and Drug Administration’s approval of the pill. Their argument that the drug is harmful has been dismissed by mainstream scientists.
Persons: Brett Kavanaugh, , Kavanaugh Organizations: U.S
Sydney CNN —Australian authorities are investigating the distribution of deepfake pornographic images of around 50 schoolgirls, allegedly created by a teenager using artificial intelligence. Victoria Police confirmed they had arrested and released a teenager “in relation to explicit images being circulated online” pending further inquiries. Victoria is the only Australian state where sharing deepfake pornography is a criminal offense. This month, the Australian government introduced legislation to criminalize the distribution of deepfake pornography nationwide. Under the proposed law, offenders could face up to six years in prison for sharing non-consensual sexually explicit deepfake material.
Persons: , Bacchus Marsh, Andrew Neal, Neal, vomited, Emily, Bacchus, Francesca Mani, Taylor Swift, Alexandria Ocasio, Cortez, , Anthony Albanese, Tim Richardson, Victoria State Premier Jacinta Allan, ” Allan Organizations: Sydney CNN —, Victoria Police, Australian Broadcasting Corporation, ABC, ABC Radio Melbourne, Bacchus Marsh, Social, Westfield High School, New, Republicans, Judiciary, Victoria, Victoria State Premier Locations: United States, Bacchus, Melbourne, Victoria, New Jersey, New York, Cortez, Ocasio
New York CNN —SpaceX and CEO Elon Musk were sued on Wednesday by former employees who claim they were illegally fired for raising concerns about gender discrimination and sexual harassment at the rocket company. The eight former employees were involved in writing a 2022 open letter criticizing Musk and urging SpaceX executives to make the firm’s culture more inclusive. Following the letter’s release, the eight employees were fired. Wednesday’s complaint alleges that “Musk personally ordered the Plaintiff’s terminations.”SpaceX did not immediately respond to a request for comment on the lawsuit. (Musk has denied the harassment claims.)
Persons: Elon Musk, Musk, Twitter —, “ Musk, Gwynne Shotwell, Tom Moline, , , , “ I’ve Organizations: New, New York CNN, SpaceX, Twitter, New York Times, National Labor Relations Board, CNN, MIT, Business Locations: New York, California, Texas
You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Being a girl with "Tommie" as a first name is one thing — but having "Christopher" as a middle name turned quirky into confusing. My name is a hand-me-down that came from my dad, Thomas/Tommy, and his late best friend, Christopher. The best names come with history, and my history was of two rowdy fighters who made the streets and concert halls their home. I am grateful to my parents for not only giving me no choice but to challenge social constructs and everyone I encounter.
Persons: Tommie, Christopher, Thomas, Tommy, Tammy, Johnny Cash's, Sue, Mr, Brown Organizations: Service, Social Security Locations: France
Signage is displayed outside a permanently closed Bed Bath & Beyond retail store in Hawthorne, California, on May 1, 2023. The billionaire activist investor Ryan Cohen won the dismissal on Tuesday of a shareholder lawsuit accusing him of profitably cashing out of Bed Bath & Beyond shares too quickly as the home goods retailer was hurtling toward bankruptcy. Cohen revealed a 9.8% stake in Bed Bath & Beyond in March 2022 and pushed for changes that would include new directors and exploring a sale of the Buy Buy Baby brand. Bed Bath filed for bankruptcy in April 2023, and its common shares were canceled when its Chapter 11 plan became effective in September. The case is In re Bed Bath & Beyond Inc Section 16(b) Litigation, U.S. District Court, Southern District of New York, No.
Persons: Ryan Cohen, Dale Ho, Cohen, Lee Squitieri, Dave Wollmuth, Ho, Todd Augenbaum, Judith Cohen Organizations: Bed, U.S, GameStop, Forbes, Court, Southern District of Locations: Hawthorne , California, Manhattan, Chewy, Bed Bath, Southern District, Southern District of New York
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