Arizona is the latest state to sue Temu and its parent company PDD Holdings over allegations that the Chinese online retailer is stealing customers’ data.
The post Arizona Attorney General Sues Chinese Online Retailer Temu Over Data Theft Claims appeared first on SecurityWeek.
Amazon is paying out $2.5 billion to eligible Prime customers to settle an FTC lawsuit that alleged it enrolled people without their consent.
The post Amazon Issuing $2.5B in Refunds to Eligible Prime Customers to Settle FTC Suit appeared first on TechRepublic.
Amazon is paying out $2.5 billion to eligible Prime customers to settle an FTC lawsuit that alleged it enrolled people without their consent.
The post Amazon Issuing $2.5B in Refunds to Eligible Prime Customers to Settle FTC Suit appeared first on TechRepublic.
On Friday, a US District Court issued a preliminary injunction blocking the United States government from halting federal funding at UCLA or any other school in the University of California system. The ruling came in response to a suit filed by groups representing the faculty at these schools challenging the Trump administration’s attempts to force UCLA into a deal that would substantially revise instruction and policy.
The court’s decision lays out how the Trump administration’s attacks on universities follow a standard plan: use accusations of antisemitism to justify an immediate cut to funding, then use the loss of money to compel an agreement that would result in revisions to how the university is run. The court finds that this plan was deficient on multiple grounds, from violating legal procedures for cutting funding to an illegal attempt at suppressing the First Amendment rights of faculty.
The result is a reprieve for the entire University of California system, as well as a clear pathway for any universities to fight back against the Trump administration’s attacks on research and education.
© Myung J. Chun
A lawsuit filed last week by Missouri marijuana businesses after President Donald Trump signed the hemp ban into law seeks immediate action.
Marijuana operators not waiting for federal hemp ban to halt THCA sales is a post from: MJBizDaily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Cannabis operators around the country are staging a tax revolt. Past history suggests it may not work out the way they hope.
Will the cannabis tax revolt succeed? is a post from: MJBizDaily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Google is targeting the threat group known as Smishing Triad, which used over 194,000 malicious domains in a campaign.
The post Google Sues Chinese Cybercriminals Behind ‘Lighthouse’ Phishing Kit appeared first on SecurityWeek.
Marijuana multistate operator Curaleaf Holdings sued New Jersey regulators on Oct. 9 to avoid serious punishment for violating a union rule.
Marijuana MSO Curaleaf sues New Jersey to avoid ‘death penalty’ is a post from: MJBizDaily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
A New Mexico cannabis cultivator is suing the state, alleging a state employee allowed a flood that wrecked the company.
New Mexico cannabis cultivator sues state, alleging toxic flood wrecked crop, company is a post from: MJBizDaily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Subsidiaries of marijuana MSO Jushi Holdings sued hemp companies in Pennsylvania to halt unlicensed hemp-derived THC competition.
Marijuana MSO sues to stop hemp-derived THC in Pennsylvania is a post from: MJBizDaily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
During a California court appearance Monday, when questioned about a 420 tweet, Elon Musk suddenly forgot the significance of the number in pot culture. The tech billionaire responded after being cornered by a prosecutor representing Tesla employees for a class action lawsuit alleging he tweeted and misled shareholders about the price of Tesla shares.
The fiasco began several years ago. In 2018, Musk rounded up Tesla shares from $419 to $420, announcing his plan to go private in a tweet. “Am considering taking Tesla private at $420,” Musk tweeted on Aug. 7, 2018. “Funding secured.”—sending officials from The Securities and Exchange Commission (SEC) into a tailspin.
Am considering taking Tesla private at $420. Funding secured.
— Elon Musk (@elonmusk) August 7, 2018
Musk said he tweeted the share price based on what he said was a “firm commitment” from Saudi Arabia’s Public Investment Fund (PIF) to take Tesla private. But about 10 days later, Musk admitted that the Tesla buyout he had envisioned wasn’t going to materialize.
After an investigation, the SEC fined Musk $40 million, forcing the billionaire to step down as chair of Tesla’s board. The SEC said that Musk misled investors. In the SEC’s complaint, Musk was accused of rounding up the share price to $420 from $419 “because he had recently learned about the number’s significance in marijuana culture.”
Musk caused instantaneous uproar about a month later, sparking a blunt with Joe Rogan on his show “The Joe Rogan Experience” on Sept. 3, 2018, shocking Tesla investors and officials across the board. His troubles didn’t end there. High Times asked if it was “the most expensive blunt of all time” due to the fallout, with NASA- and SpaceX-associated officials reviewing his security clearance.
The Verge reports that Nicholas Porritt is an attorney for a class of Tesla investors suing Musk for millions of dollars that they say resulted from his failure to take Tesla private.
The courtroom got tense: “You rounded up to 420 because you thought that would be a joke that your girlfriend will enjoy, isn’t that correct?” Porritt asked. “No,” Musk said, adding, “there is some, I think, karma around 420. I should question whether that is good or bad karma at this point.”
Musk said that 420 wasn’t a weed joke, but a roughly 20% premium on the $419 stock price at the time. “420 was not chosen because of a joke,” Musk testified. “It was chosen because there was a 20 percent premium over the stock price.” Musk also claimed that it was a “coincidence.”
The jury will decide if Musk should have to pay out up to billions of dollars in damages to Tesla shareholders for the money they lost due to his tweets.
Judge Edward Chen ruled that the jury should be aware that Musk’s 2018 tweets are false. Jurors will now need to decide whether Musk deceived Tesla shareholders because of his tweets.
Musk said that he was not relying on a commitment for the Saudi PIF when he tweeted “funding secured,” adding that his shares in SpaceX would also help fund the deal to take Tesla private. “Just as I sold stock in Tesla to buy Twitter… I didn’t want to sell Tesla stock, but I did sell Tesla stock,” Musk said. “My SpaceX shares alone would have meant that funding was secured.”
Musk has also been sued by a group of former Twitter employees after a mass firing. Musk recently became the CEO of Twitter after buying the platform for $44 billion in October 2022. Saudi Prince Alwaleed bin Talal bin Abdulaziz is Twitter’s second-largest shareholder after Musk.
The post Elon Musk Denies 420 Tweet Was About Weed appeared first on High Times.
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