Telegram faces SEC lawsuit for allegedly conducting unregistered digital token offering

SEC-Lawsuit-Telegram

Telegram Group and its wholly-owned subsidiary TON Issuer Inc. are facing a lawsuit filed by the U.S. Securities and Exchange Commission (SEC) for allegedly conducting an unregistered digital token offering or initial coin offering (ICO). On Friday, the SEC announced that it obtained an emergency restraining order against Telegram, which raised $1.7 billion selling its digital token called Grams in the United States and overseas. In its complaint, the securities regulator alleged that Telegram sold approximately 2.9 billion Grams to 171 initial purchasers worldwide. In the United States 39 investors…

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Equifax settlement includes $425 million fund for consumers affected by data breach

Equifax reached a settlement agreement to resolve a nationwide lawsuit filed by the Federal Trade Commission (FTC), the Consumer Financial Protection Bureau (CFPB), and 50 U.S. states and territories. The complaint was related to the 2017 massive data breach that affected approximately 147 million consumers. Details of the settlement agreement Under the settlement agreement, Equifax will pay up to $700 million to resolve the lawsuit as part of the comprehensive settlement with the FTC, CFPB and 50 U.S. states and territories. The settlement includes $425 million fund for consumers affected…

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Facebook shares drop despite reporting outstanding quarterly results

Facebook

Facebook (NASDAQ: FB) reported outstanding first quarter financial results, but its shares fell instead of going up during the extended trading hours on Wednesday. The social network giant’s stock declined 2.5% to $148.01 per share—a sign that investors are concerned about the company’s financial performance in the future. During the first three months of the year, Facebook generated earnings of $1.04 per share, up 7% from $0.60 per share in the year-ago quarter. Its revenue rose 49% from $5.38 billion to $8.03 billion. The social network giant exceeded the $0.87…

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Facebook, Oculus, others to pay ZeniMax $500 million in VR lawsuit

Facebook (NASDAQ: FB), Oculus together with other defendants were ordered by a jury to pay a combined $500 million to ZeniMax Media in a lawsuit involving its virtual reality (VR) technology. Facebook purchased Oculus for $2 billion in a cash and stock deal in 2014. The social network giant made the acquisition because its CEO Mark Zuckerberg believes that virtual technology would be the next great evolution and Oculus has the potential to become the most social platform. The video game publisher accused Oculus, its founder Palmer Luckey, CEO Brendan…

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Nintendo shares fall as Nintendo Switch pricing disappoints investors

  The stock price of Nintendo Co., Ltd (TYO: 7974) plummeted 5.75% to ¥23,750 in Japan on Friday after the company announced the launching of Nintendo Switch worldwide on March 3. The Japanese game console and software developer is selling the Nintendo Switch for $299.99 in the United States, £278.99 in the United Kingdom, and  ¥29,980 in Japan, higher than the price expected (between $250 and $280) by analysts and investors. Take note that the current retail price of the PlayStation 4 by Sony Corp (ADR) (NYSE: SNE) is $260…

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Tesla hires Apple software engineer Chris Lattner to lead its Autopilot team

tesla

Chris Lattner, the project lead of Swift programming language at Apple Inc (NASDAQ: AAPL) decided to leave the iPhone maker to join Tesla Motors (NASDAQ: TSLA). Lattner announced his departure from the company in a community forum on Tuesday. According to him, he will leave Apple later this month to pursue an opportunity in another space. He wrote that his decision wasn’t easy and “remained completely committed to Swift,” which is used by hundreds of millions of people.  Apple launched Swift in 2014 as its de-facto language for third-party app…

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Nokia accuses Apple of infringing its 32 technology patents

Nokia Corporation (ADR) (NYSE: NOK) filed several lawsuits against Apple Inc (NASDAQ: AAPL) on allegations that the Cupertino-based iPhone maker infringed its 32 technology patents. The Finnish company its patent infringement complaints against Apple in the in the Regional Courts in Dusseldorf, Mannheim and Munich in Germany and the US District Court for the Eastern District of Texas on Wednesday. It is also in the process of filing further cases against Apple in other jurisdiction. Nokia is a provider of network infrastructure and related services globally. It is also focused…

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Alphabet Shares Spike on Q3 Earnings that Beat Estimates

Alphabet Inc (NASDAQ: GOOGL) (NASDAQ: GOOG), the parent company of Google, reported Third-quarter financial results that surpassed the consensus estimates of Wall Street analysts. The company’s shares surged during the extended trading hours on Wednesday, around 5:23 p.m. in New York.  The GOOGL stock climbed nearly 0.81% to $824 per share and GOOG stock went up 1.17% to $804.62 per share. In a statement, Alphabet CFO Ruth Porat said, “We had a great third quarter, with 20% revenue growth year on year, and 23% on a constant currency basis. Mobile…

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Half Billion Yahoo Users’ Accounts Hacked

Yahoo

Yahoo confirmed that at least half billion of its users’ accounts were hacked by a state-sponsored hacker, who perpetrated a cyber attack on its network in late 2014. According to the company the hacker stole a copy of certain user information that may have included users’ names, birthdates, e-mail addresses, and hashed passwords. The hacker may also have taken encrypted or unencrypted security questions and answers in some cases. Yahoo’s ongoing investigation indicated that the hacker failed to access unprotected passwords, bank account information or payment data during the data…

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