Financial Daily Dose 1.8.2020 | Top Story: Speaker Company Sonos Sues Google for Patent Infringement


Home speaker maker Sonos has sued Google, accusing the company of “infringing on five of its patents, including technology that lets wireless speakers connect and synchronize with one another.” Sonos had originally partnered with Google in 2013 on a music service that would work easily with Sonos’ speakers (back when Google was merely “an internet company” and didn’t make speakers), but obviously, the playing field has changed – NYTimes and WSJ

While we’re talking Googs, the company will pay a pretty measly $7.5 million to resolve consumer class action claims “alleging that the search giant’s key senior executives had contemporaneous knowledge of a yearslong data breach that impacted its now defunct Google+ social media platform, yet failed to provide notice to users and Congress until seven months later” – Law360

The U.S. and France appear to be coming down to the wire on a potential compromise “in a digital tax dispute that could result in hefty American tariffs on French wine, cheese, handbags, cookware and more.” At issue are the White House tariff threats in response to France’s new tax on American tech giants that have a massive digital presence in the country but pay few taxes there because of a tiny physical French footprint – NYTimes

Reversing prior course, Boeing is now reportedly recommending that its 737 Max pilots undergo flight simulator training. Boeing had long argued in conversations with FAA officials following the “initial approval of the plane and after two crashes killed 346 people last year” that simulator training was unnecessary – NYTimes and WSJ and Bloomberg

Speaking of the troubled planemaker, the Journal gives us a co-pilot seat as it traces ex-CEO Dennis Muilenburg’s bumpy ride out the door – WSJ

International man of mystery Carlos Ghosn will take to the mic today, presumably in his own defense.  Here’s what to expect when he does – Bloomberg and NYTimes and MarketWatch

A pair of McDonald’s execs has accused the company of racial discrimination and civil rights abuses in a new lawsuit filed on Tuesday in Illinois federal district court. The plaintiffs allege they were demoted “as a result of discrimination and an allegedly hostile climate for black executives and franchisees at the Chicago-based company” – WSJ

Specialty furniture chain and 80s mainstay Pier 1 Imports announced this week that it’s could close more than half of its 936 stores “as well as some distribution centers, and lay off an unspecified number of corporate employees.” The company also announced a quarterly sales decline of 13% and “a loss of $59 million” – NYTimes and MarketWatch

Former Goldman Sachs banker Bryan Cohen pleaded guilty this week in SDNY court to one count of conspiracy over his role in “an alleged insider-trading scheme” in which he gave nonpublic information about Goldman clients “to a securities trader in Switzerland in exchange for cash and other perks” – WSJ and Bloomberg and Law360

More than 200 institutional investors have banded together to sue Daimler for “allegedly  misleading the market about excessive carbon emissions from its diesel cars.” The plaintiffs are asking for more than $1 billion for Daimler’s purported wrongdoing – Law360

Not that daily life in ancient was any piece of cake, but man, the afterlife really put ‘em through the ringer. Such is the lesson of the “Book of Two Ways,” a 4000 year-old guide to the Underworld that doubles as the “earliest known copy of the first illustrated book” – NYTimes


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