7 times Tesla’s stock has taken a nosedive

Tesla’s 13 percent stock slump on Friday was the biggest of the new year, and the seventh-steepest since the company’s public market debut in 2010. The decline followed an announcement by CEO Elon Musk that Tesla is slashing 7 percent of its full-time jobs as it ramps up production of Model 3 sedans. The last time Tesla investors had a day that rough was Sept. 28, when the stock plummeted almost 14 percent after the Securities and Exchange Commission sued Musk for fraud. The stock debuted at $17


Tesla’s 13 percent stock slump on Friday was the biggest of the new year, and the seventh-steepest since the company’s public market debut in 2010. The decline followed an announcement by CEO Elon Musk that Tesla is slashing 7 percent of its full-time jobs as it ramps up production of Model 3 sedans. The last time Tesla investors had a day that rough was Sept. 28, when the stock plummeted almost 14 percent after the Securities and Exchange Commission sued Musk for fraud. The stock debuted at $17
7 times Tesla’s stock has taken a nosedive Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-19  Authors: ari levy, photo scott olson, source, patrick t fallon, bloomberg, getty images
Keywords: news, cnbc, companies, million, musk, ceo, teslas, trading, stake, sued, tesla, taken, worth, stock, times, nosedive


7 times Tesla's stock has taken a nosedive

Tesla’s 13 percent stock slump on Friday was the biggest of the new year, and the seventh-steepest since the company’s public market debut in 2010. The decline followed an announcement by CEO Elon Musk that Tesla is slashing 7 percent of its full-time jobs as it ramps up production of Model 3 sedans.

The last time Tesla investors had a day that rough was Sept. 28, when the stock plummeted almost 14 percent after the Securities and Exchange Commission sued Musk for fraud.

For the most part, shareholders have been rewarded for gambling on the electric car-maker and its enigmatic CEO. The stock debuted at $17 and is now trading at over $300. If you invested $1 million in the IPO, that stake would now be worth about $17.8 million.


Company: cnbc, Activity: cnbc, Date: 2019-01-19  Authors: ari levy, photo scott olson, source, patrick t fallon, bloomberg, getty images
Keywords: news, cnbc, companies, million, musk, ceo, teslas, trading, stake, sued, tesla, taken, worth, stock, times, nosedive


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Alphabet’s board sued for role in allegedly covering up sexual misconduct by senior execs

“The Directors’ wrongful conduct allowed the illegal conduct to proliferate and continue,” the suit reads. “As such, members of Alphabet’s Board were knowing and direct enablers of the sexual harassment and discrimination.” And if you get caught, Google would keep it quiet, let you resign, and pay you millions of dollars in severance,” the suit reads. In this way, Alphabet and the Board were able to maintain optics and superficial compliance with its code of conduct, internal rules, and laws reg


“The Directors’ wrongful conduct allowed the illegal conduct to proliferate and continue,” the suit reads. “As such, members of Alphabet’s Board were knowing and direct enablers of the sexual harassment and discrimination.” And if you get caught, Google would keep it quiet, let you resign, and pay you millions of dollars in severance,” the suit reads. In this way, Alphabet and the Board were able to maintain optics and superficial compliance with its code of conduct, internal rules, and laws reg
Alphabet’s board sued for role in allegedly covering up sexual misconduct by senior execs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-10  Authors: jillian donfro, jerome favre, bloomberg, getty images, michelle castillo
Keywords: news, cnbc, companies, misconduct, allegedly, role, harassment, conduct, san, execs, covering, alphabets, severance, sued, reads, sexual, senior, google, suit, employees, board


Alphabet's board sued for role in allegedly covering up sexual misconduct by senior execs

The new lawsuit, filed in California’s San Mateo County, asserts claims for breach of fiduciary duty, abuse of control, unjust enrichment, and waste of corporate assets. The attorneys say the lawsuit is the result of “an extensive original investigation into non-public evidence” and produced copies of internal Google minutes from board of directors meetings.

“The Directors’ wrongful conduct allowed the illegal conduct to proliferate and continue,” the suit reads. “As such, members of Alphabet’s Board were knowing and direct enablers of the sexual harassment and discrimination.”

The suit also accuses board members of employing contradictory standards:

“If you were a high‐level male executive at Google responsible for generating millions of dollars in revenue, Google would let you engage in sexual harassment. And if you get caught, Google would keep it quiet, let you resign, and pay you millions of dollars in severance,” the suit reads. “On the other hand, if you were a low‐level employee at Google and were accused of sexual harassment or discrimination, you would be fired for cause with no severance benefits. In this way, Alphabet and the Board were able to maintain optics and superficial compliance with its code of conduct, internal rules, and laws regarding sexual harassment. By appearing to take decisive action against a significant number of low‐level employees, and by concealing the blatant and widespread sexual harassment by senior Google executives, the Board avoided a much bigger scandal.”

In late October, Google CEO Sundar Pichai told employees that Google had fired 48 employees for sexual misconduct over the past two years.

The shareholder plaintiff, James Martin, has held Alphabet stock since October 2009.

Soon after the original complaint, another similar suit was filed in San Mateo County on behalf of two additional stockholders, which also alleges that the board breached its fiduciary duty and had a “culture of concealment” around sexual misconduct, as well as a bug in the Google Plus social network.

Google did not immediately respond to a request for comment.

You can read the suit in full here:


Company: cnbc, Activity: cnbc, Date: 2019-01-10  Authors: jillian donfro, jerome favre, bloomberg, getty images, michelle castillo
Keywords: news, cnbc, companies, misconduct, allegedly, role, harassment, conduct, san, execs, covering, alphabets, severance, sued, reads, sexual, senior, google, suit, employees, board


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Apple to tell Supreme Court it can’t be sued in App Store dispute

In a statement, Apple said that its App Store has fueled competition. The company said the store is responsible for the creation of millions of jobs and more than $100 billion in payments to app developers. The precedent the court is revisiting was set in Illinois Brick Co. v. Illinois, a 1977 dispute in which the court ruled in favor of concrete brick manufacturers. Rather, Apple will say that it is acting as an agent for app developers, who ultimately are selling their wares to consumers. Whil


In a statement, Apple said that its App Store has fueled competition. The company said the store is responsible for the creation of millions of jobs and more than $100 billion in payments to app developers. The precedent the court is revisiting was set in Illinois Brick Co. v. Illinois, a 1977 dispute in which the court ruled in favor of concrete brick manufacturers. Rather, Apple will say that it is acting as an agent for app developers, who ultimately are selling their wares to consumers. Whil
Apple to tell Supreme Court it can’t be sued in App Store dispute Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-26  Authors: tucker higgins, steve kovach
Keywords: news, cnbc, companies, apple, supreme, illinois, developers, sued, court, app, brick, case, cant, apps, tell, iphone, dispute, store


Apple to tell Supreme Court it can't be sued in App Store dispute

The court’s decision in the case, which is named Apple Inc. v. Pepper, No. 17-204, could have an impact beyond Apple. It could also open up other tech companies that operate electronic marketplaces, like Facebook, Ebay, Amazon and Alphabet’s Google, to similar challenges.

In a statement, Apple said that its App Store has fueled competition. The company said the store is responsible for the creation of millions of jobs and more than $100 billion in payments to app developers.

“We are hopeful the Supreme Court will recognize Apple’s critical role as a marketplace for apps, and uphold existing legal precedent by finding in favor of Apple and the millions of developers who sell their apps on our platform,” the company said.

Despite affecting the biggest tech companies in the world, Monday’s case hinges on how the Supreme Court’s justices will apply a decidedly low-tech ruling from the latter half of the 20th century.

The precedent the court is revisiting was set in Illinois Brick Co. v. Illinois, a 1977 dispute in which the court ruled in favor of concrete brick manufacturers. The state of Illinois sued the brickmakers for allegedly inflating their prices, causing an increase in the the cost of public building projects.

The court ruled that even though the increased brick costs might hurt Illinois indirectly, only the contractors who actually bought the bricks had standing to sue. That established the so-called “Illinois brick doctrine,” which says that only the direct purchaser of a good can collect damages from a monopoly holder.

Apple, which is supported by the Justice Department, will argue Monday that it is not directly selling apps to iPhone users. Rather, Apple will say that it is acting as an agent for app developers, who ultimately are selling their wares to consumers. In exchange for the commission Apple takes on app sales, the company provides access to its vast user base and performs other services, such as malware detection.

That view is supported by The App Association, an industry group that represents developers. The group has said that, in its view, “the customer is unequivocally buying from the app developer, not the platform the developer sold their app through,” and cautioned that a ruling against Apple could jeopardize the app economy.

But the iPhone owners bringing the suit take a different view. They argue that Apple directly sells the apps in its store, and has gone to “great lengths” to keep it that way, both by establishing technical barriers to other marketplaces and by penalizing those who jailbreak their devices.

While Apple does not price the goods in its App Store, the iPhone users argue that Apple still exercises control over pricing. Apple requires that that any app sold have a price that ends in 99 cents, such as $1.99.

Herbert Hovenkamp, one of the country’s top antitrust experts and a professor at the University of Pennsylvania School of Law and The Wharton School, the university’s business school, joined a brief supporting the iPhone owners in the case.

In an interview, Hovenkamp said that the case is distinct from Illinois Brick.

In that case, he said, it was the brickmakers who were alleged to be conspiring to inflate prices. But in this case, the equivalent party — the app developers — are innocent, potentially even victims of the alleged monopoly.

“Illinois Brick assumes that you’ve got an antitrust violator, and that violator sells to some innocent retailer or distributor, or someone in the middle, and then that innocent retailer sells to someone who then sues,” Hovenkamp said. But, in this case, it’s different: Apple, the alleged violator, is the one in the middle, he said.

A ruling is expected to come by late June.

WATCH: Steve Jobs defends his commitment to Apple on CNBC in 1997


Company: cnbc, Activity: cnbc, Date: 2018-11-26  Authors: tucker higgins, steve kovach
Keywords: news, cnbc, companies, apple, supreme, illinois, developers, sued, court, app, brick, case, cant, apps, tell, iphone, dispute, store


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Trump Foundation lawsuit: Judge rejects Trump claim that he can’t be sued

Scarpulla also rejected Trump’s argument that the state court lacked jurisdiction over the president in this case. “I find that I have jurisdiction over Mr. Trump and deny Respondents’ motion to dismiss the petition against him on jurisdictional grounds,” she wrote. “As we detailed in our petition earlier this year, the Trump Foundation functioned as little more than a checkbook to serve Mr. Trump’s business and political interests. A lawyer for the Trump Foundation, in a statement to CNBC, said


Scarpulla also rejected Trump’s argument that the state court lacked jurisdiction over the president in this case. “I find that I have jurisdiction over Mr. Trump and deny Respondents’ motion to dismiss the petition against him on jurisdictional grounds,” she wrote. “As we detailed in our petition earlier this year, the Trump Foundation functioned as little more than a checkbook to serve Mr. Trump’s business and political interests. A lawyer for the Trump Foundation, in a statement to CNBC, said
Trump Foundation lawsuit: Judge rejects Trump claim that he can’t be sued Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-23  Authors: kevin breuninger, dan mangan, mark lennihan
Keywords: news, cnbc, companies, york, judge, mr, sued, cant, court, underwood, state, president, rejects, trump, foundation, trumps, case, claim, lawsuit


Trump Foundation lawsuit: Judge rejects Trump claim that he can't be sued

A New York judge on Friday denied a request from President Donald Trump and his family members to dismiss a lawsuit against them and the Trump Foundation alleging that the charitable foundation violated state and federal laws for “more than a decade.”

In her ruling, Justice Saliann Scarpulla of the New York state Supreme Court shot down an argument from the Trump family’s attorneys that the case should be dismissed because the Supremacy Clause of the U.S. Constitution suggests “a sitting president may not be sued.”

Scarpulla also rejected Trump’s argument that the state court lacked jurisdiction over the president in this case. While the Constitution prohibits state courts from exercising “direct control” in a way that interferes with federal officers’ duties, Scaruplla wrote: “Here, the allegations raised in the Petition do not involve any action taken by Mr. Trump as president and any potential remedy would not affect Mr. Trump’s official federal duties.”

Scarpulla noted that the defendants “have failed to cite a single case in which any court has dismissed a civil action against a sitting president on Supremacy Clause grounds, where, as here, the action is based on the president’s unofficial acts.”

“I find that I have jurisdiction over Mr. Trump and deny Respondents’ motion to dismiss the petition against him on jurisdictional grounds,” she wrote.

New York state Attorney General Barbara Underwood praised Scarpulla’s decision.

“As we detailed in our petition earlier this year, the Trump Foundation functioned as little more than a checkbook to serve Mr. Trump’s business and political interests. There are rules that govern private foundations — and we intend to enforce them, no matter who runs the foundation. We welcome Justice Scarpulla’s decision, which allows our suit to move forward,” Underwood said in a statement.

A lawyer for the Trump Foundation, in a statement to CNBC, said: “The decision means only that the case goes forward. As we have maintained throughout, all of the money raised by the Foundation went to charitable causes to assist those most in need. As a result, we remain confident in the ultimate outcome of these proceedings”

The White House did not immediately responded to CNBC’s requests for comment on Scarpulla’s decision.

The judge’s ruling could bolster other legal actions against Trump in New York and other states. Those include a complaint by former ”Apprentice” contestant Summer Zervos, who is one of a dozen or so women who accused Trump of sexual misconduct. Zervos, who has been pursuing a defamation case against the president, claimed that Trump forced himself on her in 2007. Trump has denied the claims.

The Trump Foundation suit, filed by Underwood in Manhattan state Supreme Court, alleged that Trump had misused the Trump Foundation “for his own personal benefit.”

The “pattern” of illegality, Underwood’s office wrote, included “improper and extensive political activity, repeated and willful self-dealing transactions, and failure to follow basic fiduciary obligations or to implement even elementary corporate formalities required by law.”

After Underwood first filed the suit in June, Trump had vented rage on Twitter against “the sleazy New York Democrats.”

–CNBC’s Mike Calia contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2018-11-23  Authors: kevin breuninger, dan mangan, mark lennihan
Keywords: news, cnbc, companies, york, judge, mr, sued, cant, court, underwood, state, president, rejects, trump, foundation, trumps, case, claim, lawsuit


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McDonald’s is being sued by a father over ‘illegal’ marketing of Happy Meals to children

A spokesperson for McDonald’s Canada told CNBC by email that the company had received the ruling and will examine it carefully. “We are aware of our obligations under Quebec’s advertising laws and reiterate that we do not believe this class action has merit. He pointed to the long-running “McLibel” case of the 1980s and 1990s in which McDonald’s sued activists who were part of the London Greenpeace group. They had produced a leaflet called “What’s wrong with McDonald’s — everything they don’t wa


A spokesperson for McDonald’s Canada told CNBC by email that the company had received the ruling and will examine it carefully. “We are aware of our obligations under Quebec’s advertising laws and reiterate that we do not believe this class action has merit. He pointed to the long-running “McLibel” case of the 1980s and 1990s in which McDonald’s sued activists who were part of the London Greenpeace group. They had produced a leaflet called “What’s wrong with McDonald’s — everything they don’t wa
McDonald’s is being sued by a father over ‘illegal’ marketing of Happy Meals to children Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-20  Authors: lucy handley, chris so, getty images
Keywords: news, cnbc, companies, meals, children, happy, displays, claims, advertising, father, mcdonalds, sued, spokesperson, quebec, company, leaflet, told, marketing, illegal, stores


McDonald's is being sued by a father over 'illegal' marketing of Happy Meals to children

A spokesperson for McDonald’s Canada told CNBC by email that the company had received the ruling and will examine it carefully. “We are aware of our obligations under Quebec’s advertising laws and reiterate that we do not believe this class action has merit. We are proud of our long-standing relationship with Quebecers and their families, who have been choosing to enjoy McDonald’s for more than 45 years,” the spokesperson added.

Advertising to children under 13 has been banned in Quebec since the 1970s with three exceptions: advertising in children’s magazines, advertising children’s entertainment events and advertising via store windows, displays, containers, packaging or labels.

Zukran, an attorney at LPC Avocat, told CNBC by phone that McDonald’s toy displays are not covered by this exception, with the judgment stating that the company operates restaurants rather than stores. Even if they are considered stores, Zukran said, advertising must not “directly incite a child to buy goods or services,” according to the Consumer Protection Act.

Zukran claims that his firm has had a “huge” response from other consumers, as anyone who has bought a Happy Meal in Quebec since November 2013 can request to be part of the action. He would not give a number but claims that the website crashed due to people’s interest.

He pointed to the long-running “McLibel” case of the 1980s and 1990s in which McDonald’s sued activists who were part of the London Greenpeace group. They had produced a leaflet called “What’s wrong with McDonald’s — everything they don’t want you to know.” Most of the claims in the leaflet were rejected by the judge, Justice Bell, but he decided that the advertising from McDonald’s had exploited children, a blow to the fast-food chain.


Company: cnbc, Activity: cnbc, Date: 2018-11-20  Authors: lucy handley, chris so, getty images
Keywords: news, cnbc, companies, meals, children, happy, displays, claims, advertising, father, mcdonalds, sued, spokesperson, quebec, company, leaflet, told, marketing, illegal, stores


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UBS expects to be sued by US Justice Department over crisis-era mortgage securities

The U.S. Department of Justice did not immediately respond to a request for comment. UBS said it had been advised by the Justice Department that the law enforcement agency intends to file the civil complaint. It anticipates the Justice Department will seek unspecified monetary penalties regarding the mortgage securities, which date back to 2006 and 2007. The lawsuit would be among the last actions over misconduct in the sale and pooling of mortgage securities which helped to cause the financial


The U.S. Department of Justice did not immediately respond to a request for comment. UBS said it had been advised by the Justice Department that the law enforcement agency intends to file the civil complaint. It anticipates the Justice Department will seek unspecified monetary penalties regarding the mortgage securities, which date back to 2006 and 2007. The lawsuit would be among the last actions over misconduct in the sale and pooling of mortgage securities which helped to cause the financial
UBS expects to be sued by US Justice Department over crisis-era mortgage securities Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-08  Authors: fabrice coffrini, afp, getty images
Keywords: news, cnbc, companies, justice, sued, group, expects, sale, sought, bank, ubs, law, mortgage, department, crisisera, settled, securities


UBS expects to be sued by US Justice Department over crisis-era mortgage securities

UBS Group, Switzerland’s largest bank, said it expects to be sued by the U.S. Department of Justice as early as Thursday on civil charges related to the sale of mortgage-backed securities in the run-up to the 2008-2009 financial crisis, according to a company statement.

The bank said the claims were not supported by the facts or the law and it would contest any such complaint “vigorously.”

The U.S. Department of Justice did not immediately respond to a request for comment.

UBS said it had been advised by the Justice Department that the law enforcement agency intends to file the civil complaint.

It anticipates the Justice Department will seek unspecified monetary penalties regarding the mortgage securities, which date back to 2006 and 2007.

The lawsuit would be among the last actions over misconduct in the sale and pooling of mortgage securities which helped to cause the financial crisis.

The Department of Justice has settled similar claims with Citigroup, Deutsche Bank, JPMorgan Chase, Credit Suisse Group, Morgan Stanley, Goldman Sachs, Bank of America and Barclays.

Barclays settled for $2 billion in March after resisting a penalty the U.S. government sought near the end of the Obama administration in 2016. Justice had sought a much higher fine at the time and, when the two sides could not come to terms, the department filed a lawsuit.

More recently, HSBC Holdings agreed to pay $765 million last month to settle with the Justice Department over its sale of defective mortgage securities before the crisis, while major player Royal Bank of Scotland Group reached a $4.9 billion deal in May.


Company: cnbc, Activity: cnbc, Date: 2018-11-08  Authors: fabrice coffrini, afp, getty images
Keywords: news, cnbc, companies, justice, sued, group, expects, sale, sought, bank, ubs, law, mortgage, department, crisisera, settled, securities


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Cristiano Ronaldo: Sponsors EA and Nike concerned about rape claims

Sportswear maker Nike and video game maker Electronic Arts said on Thursday they were concerned about rape allegations against Cristiano Ronaldo, one of the world’s best soccer players. The 33-year-old athlete on Tuesday denied rape allegations leveled against him by a woman who sued him in court in Nevada. “We are deeply concerned by the disturbing allegations and will continue to closely monitor the situation,” Nike said in a statement to Reuters. “We have seen the concerning report that detai


Sportswear maker Nike and video game maker Electronic Arts said on Thursday they were concerned about rape allegations against Cristiano Ronaldo, one of the world’s best soccer players. The 33-year-old athlete on Tuesday denied rape allegations leveled against him by a woman who sued him in court in Nevada. “We are deeply concerned by the disturbing allegations and will continue to closely monitor the situation,” Nike said in a statement to Reuters. “We have seen the concerning report that detai
Cristiano Ronaldo: Sponsors EA and Nike concerned about rape claims Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-05  Authors: isabella bonotto, afp, getty images
Keywords: news, cnbc, companies, ronaldo, cristiano, juventus, nike, allegations, sponsors, rape, ea, claims, sued, million, concerned, soccer, team, situation


Cristiano Ronaldo: Sponsors EA and Nike concerned about rape claims

Sportswear maker Nike and video game maker Electronic Arts said on Thursday they were concerned about rape allegations against Cristiano Ronaldo, one of the world’s best soccer players.

The 33-year-old athlete on Tuesday denied rape allegations leveled against him by a woman who sued him in court in Nevada.

“We are deeply concerned by the disturbing allegations and will continue to closely monitor the situation,” Nike said in a statement to Reuters.

Nike has worked with Ronaldo since 2003 and in 2016 announced a lifetime deal with him worth as much as $1 billion, according to Forbes magazine.

Electronic Arts has featured Ronaldo on the cover of its EA Sports’ FIFA series for two years.

“We have seen the concerning report that details allegations against Cristiano Ronaldo,” an EA spokesperson said in an email to Reuters.

“We are closely monitoring the situation, as we expect cover athletes and ambassadors to conduct themselves in a manner that is consistent with EA’s values,” the company said.

Kathryn Mayorga sued Ronaldo in a district court in Clark County, Nevada, alleging he raped her in 2009 in a Las Vegas hotel penthouse suite.

The player has said his conscience was clear and that he would await the results of any investigation.

“I firmly deny the accusations being issued against me. Rape is an abominable crime that goes against everything that I am and believe in,” the world-famous athlete wrote in a tweet to his 75 million followers.

Ronaldo transferred from soccer team Real Madrid to Italian champions Juventus this summer for 100 million euros. Juventus broke their silence on the situation Wednesday afternoon on Twitter, fully backing Ronaldo.

“Cristiano Ronaldo has shown in recent months his great professionalism and dedication, which is appreciated by everyone at Juventus,” the team tweeted.

“The events allegedly dating back to almost 10 years ago do not change this opinion, which is shared by anyone who has come into contact with this great champion,” Juventus said.


Company: cnbc, Activity: cnbc, Date: 2018-10-05  Authors: isabella bonotto, afp, getty images
Keywords: news, cnbc, companies, ronaldo, cristiano, juventus, nike, allegations, sponsors, rape, ea, claims, sued, million, concerned, soccer, team, situation


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Netflix is sued by EasyJet founder over TV series ‘Easy’

EasyGroup, the company behind the EasyJet airline, is suing Netflix over its “Easy” comedy series, saying that use of the name breaches its European trademarks. The series, directed by Joe Swanberg, follows a variety of couples in Chicago exploring sex and romance, with stars including actors Orlando Bloom and Emily Ratajkowski. In a statement emailed to CNBC, EasyGroup founder Sir Stelios Haji-Ioannou called Netflix “arrogant” and claimed the company had not checked the legal rights to the name


EasyGroup, the company behind the EasyJet airline, is suing Netflix over its “Easy” comedy series, saying that use of the name breaches its European trademarks. The series, directed by Joe Swanberg, follows a variety of couples in Chicago exploring sex and romance, with stars including actors Orlando Bloom and Emily Ratajkowski. In a statement emailed to CNBC, EasyGroup founder Sir Stelios Haji-Ioannou called Netflix “arrogant” and claimed the company had not checked the legal rights to the name
Netflix is sued by EasyJet founder over TV series ‘Easy’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-01  Authors: lucy handley
Keywords: news, cnbc, companies, swanberg, word, easy, series, easyjet, european, easygroup, company, checked, joe, founder, tv, sued, netflix


Netflix is sued by EasyJet founder over TV series 'Easy'

EasyGroup, the company behind the EasyJet airline, is suing Netflix over its “Easy” comedy series, saying that use of the name breaches its European trademarks.

The series, directed by Joe Swanberg, follows a variety of couples in Chicago exploring sex and romance, with stars including actors Orlando Bloom and Emily Ratajkowski.

In a statement emailed to CNBC, EasyGroup founder Sir Stelios Haji-Ioannou called Netflix “arrogant” and claimed the company had not checked the legal rights to the name outside the U.S.

“When Joe Swanberg came up with the name ‘Easy’ for his new TV series a couple of years ago they should have checked with their European lawyers before using it. We own the European trademark in the word ‘easy’ and another 1,000 trademarks with easy as a prefix and we can’t allow people to use it now as a brand name.”


Company: cnbc, Activity: cnbc, Date: 2018-10-01  Authors: lucy handley
Keywords: news, cnbc, companies, swanberg, word, easy, series, easyjet, european, easygroup, company, checked, joe, founder, tv, sued, netflix


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Dow set to drop 100 points at the open as trade worries, Italy fears weigh

U.S. Trade Representative Robert Lighthizer said Tuesday the U.S. was ready to move ahead on a new NAFTA deal without Canada. Stock futures were also under pressure as European shares fell after the Italian government set a budget deficit target that is three times higher than the previous government had planned. The Stoxx 600 index — which track a broad swath of European stocks — fell 0.7 percent while the Italian FTSE MIB index dropped nearly 4 percent. While sources close to the company told


U.S. Trade Representative Robert Lighthizer said Tuesday the U.S. was ready to move ahead on a new NAFTA deal without Canada. Stock futures were also under pressure as European shares fell after the Italian government set a budget deficit target that is three times higher than the previous government had planned. The Stoxx 600 index — which track a broad swath of European stocks — fell 0.7 percent while the Italian FTSE MIB index dropped nearly 4 percent. While sources close to the company told
Dow set to drop 100 points at the open as trade worries, Italy fears weigh Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-28  Authors: fred imbert, alexandra gibbs, bryan r smith, afp, getty images
Keywords: news, cnbc, companies, weigh, drop, fell, stocks, dow, index, shares, nafta, tesla, trade, italy, sued, representative, fears, set, musk, open, worries, points


Dow set to drop 100 points at the open as trade worries, Italy fears weigh

The U.S. and Canada have not yet come to an agreement on trade as a Sept. 30 deadline rapidly approaches. The two countries are trying to come to terms so Canada can join a trade deal struck between the U.S. and Mexico that would replace the current North American Free Trade Agreement (NAFTA), which has been heavily criticized by President Donald Trump.

U.S. Trade Representative Robert Lighthizer said Tuesday the U.S. was ready to move ahead on a new NAFTA deal without Canada.

Trump, meanwhile, said Wednesday he was “very unhappy” with Canada’s negotiation tactics, noting: “We don’t like their representative [Chrystia Freeland] very much.”

Trade has been an overhang for U.S. stocks for most of 2018 as investors try to assess how protectionist policies would impact the global economy and corporate profits.

Stock futures were also under pressure as European shares fell after the Italian government set a budget deficit target that is three times higher than the previous government had planned. The Stoxx 600 index — which track a broad swath of European stocks — fell 0.7 percent while the Italian FTSE MIB index dropped nearly 4 percent. Germany’s Dax also fell 1.4 percent and France’s CAC 40 declined 0.8 percent.

On the data front, personal income, consumer spending and core PCE figures are due out at 8:30 a.m. ET, followed by Chicago purchasing managers’ index data at 9:45 a.m. ET and consumer sentiment at 10 a.m. ET.

In corporate news, Blackberry and Vail Resorts are scheduled to publish earnings.

Meantime, investors will be keeping a close eye on Tesla, after news emerged that its CEO Elon Musk had been sued by the Securities and Exchange Commission for fraud, according to court documents filed Thursday. While sources close to the company told CNBC that the firm was also expecting to be sued, Tesla wasn’t however named as a defendant in the complaint. In premarket trading, Tesla shares were down more than 12 percent and Musk called the SEC’s allegations of fraud as “unjustified.”


Company: cnbc, Activity: cnbc, Date: 2018-09-28  Authors: fred imbert, alexandra gibbs, bryan r smith, afp, getty images
Keywords: news, cnbc, companies, weigh, drop, fell, stocks, dow, index, shares, nafta, tesla, trade, italy, sued, representative, fears, set, musk, open, worries, points


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Elon Musk sued by the cave rescue diver he called a ‘pedo guy’ and ‘child rapist’

Musk shot back at Unsworth on Twitter in mid-July, calling him a “pedo guy,” among other claims. “You know what, don’t bother showing the video,” Musk tweeted. Musk’s False and Defamatory Accusations falsely accused Mr. Unsworth of being a (1) a pedophile ,(2)a child rapist, (3) a child sex-trafficker,(4) the husband of a 12-year old child bride,and (5) a liar. Unsworth is not a child rapist. Unsworth is not married to a 12-year old child.


Musk shot back at Unsworth on Twitter in mid-July, calling him a “pedo guy,” among other claims. “You know what, don’t bother showing the video,” Musk tweeted. Musk’s False and Defamatory Accusations falsely accused Mr. Unsworth of being a (1) a pedophile ,(2)a child rapist, (3) a child sex-trafficker,(4) the husband of a 12-year old child bride,and (5) a liar. Unsworth is not a child rapist. Unsworth is not married to a 12-year old child.
Elon Musk sued by the cave rescue diver he called a ‘pedo guy’ and ‘child rapist’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-17  Authors: sara salinas, michelle castillo
Keywords: news, cnbc, companies, old, musk, saying, sued, team, rescue, 12year, tweeted, unsworth, pedo, pedophile, guy, diver, cave, child, elon, rapist


Elon Musk sued by the cave rescue diver he called a 'pedo guy' and 'child rapist'

Musk and Unsworth have been locked in a heated back-and-forth for weeks, after Unsworth questioned Musk’s efforts to aid in the rescue of a Thai boys soccer team. Musk shot back at Unsworth on Twitter in mid-July, calling him a “pedo guy,” among other claims.

“You know what, don’t bother showing the video,” Musk tweeted. “We will make one of the mini-sub/pod going all the way to Cave 5 no problemo. Sorry pedo guy, you really did ask for it.”

In the lawsuit, Unsworth’s legal team denied all the claims.

116. Musk’s False and Defamatory Accusations falsely accused Mr. Unsworth of being a (1) a pedophile ,(2)a child rapist, (3) a child sex-trafficker,(4) the husband of a 12-year old child bride,and (5) a liar. 117.Mr. Unsworth is not pedophile 118.Mr. Unsworth has never engaged in an act of pedophilia. 119.Mr. Unsworth is not a child rapist. 120.Mr. Unsworth has never raped a child(or anyone else). 121.Mr. Unsworth is not a child sex-trafficker. 122.Mr. Unsworth has never in engaged in an act of child sex-trafficking(or adult sex-trafficking). 123.Mr. Unsworth is not married to a 12-year old child. 124.Mr. Unsworth has never been married to a 12-year old child(or any minor child).

Musk deleted the tweets and tweeted an apology to Unsworth a few days after. However, he resurfaced the controversy in late August, saying it was “strange” that Unsworth had not sued him over the comments. A lawyer for Unsworth had sent a letter to Musk on Aug. 6 asking the CEO to contact him in order to avoid a lawsuit and to correct the alleged false statements.

Musk also responded to a request for comment in regard to a Buzzfeed article on the subject in early September by saying, “I suggest that you call people you know in Thailand, find out what’s actually going on and stop defending child rapists, you f—— a——.” Musk said the email was off the record, but BuzzFeed claimed the publication never agreed to that stipulation.

Tesla and Musk did not immediately respond to requests for comment.


Company: cnbc, Activity: cnbc, Date: 2018-09-17  Authors: sara salinas, michelle castillo
Keywords: news, cnbc, companies, old, musk, saying, sued, team, rescue, 12year, tweeted, unsworth, pedo, pedophile, guy, diver, cave, child, elon, rapist


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