Instacart, America’s largest online grocery delivery platform, recently revealed its plans to go public. The move came amidst a rapid deceleration in the growth of its primary business, pushing the company to look for novel avenues to generate revenue. According to the data supplied in its filing with the US Securities and Exchange Commission, there…
Business and legal services provider Kroll has been cooperating with federal law enforcement following a hacking incident that potentially put customer data at risk. Affected customers are reported to be from bankrupt crypto platforms FTX, BlockFi Inc, and Genesis Global Holdco. The details were divulged when Kroll announced the incident on August 19th. Bloomberg reported…
3M Co. has consented, albeit tentatively, to pay upwards of $5.5 billion in an effort to resolve over 300,000 lawsuits that claim that the company sold defective combat earplugs to the US military, according to information from individuals connected with the agreement. Bloomberg Law reports. This significant settlement would sidestep a potentially much bigger liability…
In a recent development, the Federal Trade Commission (FTC) has decided to temporarily halt its in-house proceedings to block Amgen Inc.’s takeover of Horizon Therapeutics Plc, a deal valued at $27.8 billion. The pause sets the stage for potential settlement talks that could resolve the agency’s challenge to the deal. The FTC issued an order…
An AI face-swapping app might not be able to avoid a lawsuit from a reality TV contestant, following a hearing on a motion to dismiss. Kyland Young, a finalist on CBS’s “Big Brother”, has argued that the altered clips of him on a show infringe on his California’s right of publicity, as indicated in a…