Reuters
Walmart Settles Lawsuit Regarding Allegations Of Light-Bulb Patent Infringement
- Walmart Inc (NYSE: WMT) has reportedly resolved the University of California's light-bulb patent lawsuit.
- The university accused the retail behemoth of infringing its patents associated with "filament" LED light bulbs (invented at the Santa Barbara-based school system).
- The federal judge in Los Angeles would dismiss the case with prejudice, which means it cannot be refiled.
Renault Eyes Spring 2024 IPO For EV Unit Ampere
- Renault SA (OTC: RNLSY) (OTC: RNSDF) is reportedly expecting to list its electric vehicle business unit, Ampere, on the stock market in the spring of 2024.
- Renault Chief Executive Officer Luca de Meo said the automaker was targeting November 1 of this year for Ampere to be separated from the rest of the company.
- "So we separate, and then we see if we have the right conditions to enter the market," said Luca de Meo.
UBS-Owned Credit Suisse Piles Up Loss of Over $4B In Q2
- Swiss investment bank Credit Suisse, currently a subsidiary of UBS Inc (NYSE: UBS), reportedly posted a loss of $4 billion for the second quarter, in line with the forecast issued in April.
- Credit Suisse's second-quarter loss amounted to 3.5 billion Swiss francs.
- Credit Suisse had previously forecast a significant pre-tax loss for the second quarter and for all of 2023, given its move to exit from non-core businesses and restructuring and financing costs.
Wall Street Journal
Purdue Pharma's Trust Strategy: Supreme Court Reviews Restructuring Amidst Opioid Crisis
- The Supreme Court is set to examine Purdue Pharma's proposed restructuring, the opioid company that sought bankruptcy in 2019. This move may change a four-decade method for managing vast legal liabilities from large-scale lawsuits.
- The tactic dates back to Johns Manville, a prominent asbestos firm that declared bankruptcy in 1982 due to myriad lawsuits. Despite bankruptcy laws permitting restructuring of present claims, many claimants wouldn't fall ill until years post-bankruptcy.
FTC Takes A Rare Step Back, Pauses Legal Battle With Amgen Over $28B Horizon Deal
- The Federal Trade Commission decided to momentarily halt its challenge against pharmaceutical giant Amgen, Inc (NASDAQ: AMGN), concerning its proposed acquisition of Horizon Therapeutics PLC (NASDAQ: HZNP) valued at $27.8 billion.
- The move presents a window of opportunity to contemplate a potential settlement, which might allow the deal to move forward under specific conditions.
- In a document submitted to the court last week, the FTC revealed its intention to suspend the challenge it ...