Monthly Archives: <span>August 2024</span>

Invisalign Maker Reaches $27.5M Settlement of Consumer Antitrust Lawsuit

Align Technology, the maker of Invisalign clear teeth aligners, agreed to pay $27.5 million to settle a lawsuit claiming it entered an illegal antitrust conspiracy that drove up prices of aligners made by rival SmileDirectClub. The settlement would cover nearly …

CrowdStrike VP Set to Testify to Congress on IT Outage

A senior member of CrowdStrike Holdings Inc.’s operations team is scheduled to appear before Congress to answer questions on the company’s global IT outage in July that disrupted industries around the world. In an advisory published on Friday, the House …

Cargo Theft Increases Heading into Labor Day Holiday, Report Shows

While workers are taking a break to celebrate a holiday that honors labor, crooks will be laboring to take advantage of that time off. Cargo theft activity typically spikes on the days preceding and following Labor Day weekend, according to …

Sunk Superyacht Likely to Cost Insurers At Least $150 Million, Experts Say

Insurers of the Bayesian superyacht that sank this month, killing tech entrepreneur Mike Lynch and six others, could be on the hook for at least $150 million, according to the first estimates by industry experts. The British-flagged 56-meter-long (184-foot-long) yacht, …

NTSB Report Faults Faked Trucking Company Logs in Fatal 2022 Bus Crash

A crash that killed three passengers on a party bus on a Virginia highway was caused by a fatigued truck driver working for a company that allowed its drivers to log excessive hours, a federal report concluded this week. The …

California Advances Landmark Legislation to Regulate Large AI Models

Efforts in California to establish first-in-the-nation safety measures for the largest artificial intelligence systems cleared an important vote this week that could pave the way for U.S. regulations on the technology evolving at warp speed. The proposal, aiming to reduce …

GM Must Face Big Class Action Over Faulty Transmissions

General Motors was ordered by a federal appeals court to face a class action claiming it violated laws of 26 U.S. states by knowingly selling several hundred thousand cars, trucks and SUVs with faulty transmissions. The 6th U.S. Circuit Court …

Musk and Tesla Beat Suit Over Promoting Dogecoin ‘Pyramid Scheme’

Elon Musk and Tesla Inc. won dismissal of a lawsuit claiming they pumped up the price of the cryptocurrency Dogecoin into a $258 billion “pyramid scheme.” Investors who lost tens of thousands of dollars investing in the token faulted Musk …

The Murdaugh Drama Continues: Store That Sold Beer Now Suing its Insurers

The saga of the Murdaugh family in South Carolina continues, now with a convenience store company suing its liability insurers for failing to defend it against a second lawsuit stemming from the sale of beer to an underage Paul Murdaugh …

U.S. P/C Insurance Industry Posts First H1 Underwriting Profit Since 2021

The U.S. property/casualty insurance industry recorded a net underwriting gain of $3.7 billion and net income of $94.6 billion for the first-half of 2024, according to a new report. “After years of consistent losses, premium growth is helping the overall …