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Just before the Fourth of July holiday, Elon Musk moved to dismiss a lawsuit alleging that he intentionally misled Twitter investors in 2022 by failing to disclose his growing stake in Twitter while tweeting about potentially starting his own social network in the weeks ahead of announcing his plan to buy Twitter.

Allegedly, Musk devised this fraudulent scheme to reduce the Twitter purchase price by $200 million, a proposed class action filed by an Oklahoma Firefighters pension fund on behalf of all Twitter investors allegedly harmed claimed. But in another court filing this week, Musk insisted that "all indications"—including those referenced in the firefighters' complaint—"point to mistake," not fraud.

According to Musk, evidence showed that he simply misunderstood the Securities Exchange Act when he delayed filing a Rule 13 disclosure of his nearly 10 percent ownership stake in Twitter in March 2022. Musk argued that he believed he was required to disclose this stake at the end of the year, rather than within 10 days after the month in which he amassed a 5 percent stake. He said that previously he'd only filed Rule 13 disclosures as the owner of a company—not as someone suddenly acquiring 5 percent stake.

Enlarge / Disney+ promotional art for The Fable , an anime series that triggered Animeflix takedown notices. (credit: Disney+)

Thousands of anime fans were shocked Thursday when the popular piracy site Animeflix voluntarily shut down without explaining why, TorrentFreak reported .

"It is with a heavy heart that we announce the closure of Animeflix," the site's operators told users in a Discord with 35,000 members. "After careful consideration, we have decided to shut down our service effective immediately. We deeply appreciate your support and enthusiasm over the years."

Prior to its shutdown, Animeflix attracted millions of monthly visits, TorrentFreak reported. It was preferred by some anime fans for its clean interface, with one fan on Reddit describing Animeflix as the "Netflix of anime."

Enlarge / FTC Chair Lina Khan testifies before the House Appropriations Subcommittee on May 15, 2024, in Washington, DC. (credit: Getty Images | Kevin Dietsch)

A US judge ruled against the Federal Trade Commission in a challenge to its rule banning noncompete agreements, saying the FTC lacks "substantive" rulemaking authority.

The preliminary ruling only blocks enforcement of the noncompete ban against the plaintiff and other groups that intervened in the case, but it signals that the judge believes the FTC cannot enforce the rule. The case is in US District Court for the Northern District of Texas, so appeals would be heard in the US Court of Appeals for the 5th Circuit—which is generally regarded as one of the most conservative appeals courts in the country.

In April, the FTC issued a rule that would render the vast majority of current noncompete clauses unenforceable and ban future ones. The agency said that noncompete clauses are "an unfair method of competition and therefore a violation of Section 5 of the FTC Act," calling them "a widespread and often exploitative practice imposing contractual conditions that prevent workers from taking a new job or starting a new business."

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Meta has apparently paused plans to process mounds of user data to bring new AI experiences to Europe.

The decision comes after data regulators rebuffed the tech giant's claims that it had "legitimate interests" in processing European Union- and European Economic Area (EEA)-based Facebook and Instagram users' data—including personal posts and pictures—to train future AI tools.

There's not much information available yet on Meta's decision. But Meta's EU regulator, the Irish Data Protection Commission (DPC), posted a statement confirming that Meta made the move after ongoing discussions with the DPC about compliance with the EU's strict data privacy laws, including the General Data Protection Regulation (GDPR).

Enlarge (credit: Marcos del Mazo / Contributor | LightRocket )

Apple has spent years "intentionally, knowingly, and deliberately paying women less than men for substantially similar work," a proposed class action lawsuit filed in California on Thursday alleged.

A victory for women suing could mean that more than 12,000 current and former female employees in California could collectively claw back potentially millions in lost wages from an apparently ever-widening wage gap allegedly perpetuated by Apple policies.

The lawsuit was filed by two employees who have each been with Apple for more than a decade, Justina Jong and Amina Salgado. They claimed that Apple violated California employment laws between 2020 and 2024 by unfairly discriminating against California-based female employees in Apple’s engineering, marketing, and AppleCare divisions and "systematically" paying women "lower compensation than men with similar education and experience."

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A group of Tesla investors yesterday sued Elon Musk, the company, and its board members, alleging that Tesla was harmed by Musk's diversion of resources to his xAI venture. The diversion of resources includes hiring AI employees away from Tesla, diverting microchips from Tesla to X (formerly Twitter) and xAI, and "xAI's use of Tesla's data to develop xAI's own software/hardware, all without compensation to Tesla," the lawsuit said.

The lawsuit in Delaware Court of Chancery was filed by three Tesla shareholders: the Cleveland Bakers and Teamsters Pension Fund, Daniel Hazen, and Michael Giampietro. It seeks financial damages for Tesla and the disgorging of Musk's equity stake in xAI to Tesla.

"Could the CEO of Coca-Cola loyally start a competing soft-drink company on the side, then divert scarce ingredients from Coca-Cola to the startup? Could the CEO of Goldman Sachs loyally start a competing financial advisory company on the side, then hire away key bankers from Goldman Sachs to the startup? Could the board of either company loyally permit such conduct without doing anything about it? Of course not," the lawsuit says.

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Brussels is set to charge Apple over allegedly stifling competition on its mobile app store, the first time EU regulators have used new digital rules to target a Big Tech group.

The European Commission has determined that the iPhone maker is not complying with obligations to allow app developers to “steer” users to offers outside its App Store without imposing fees on them, according to three people with close knowledge of its investigation.

The charges would be the first brought against a tech company under the Digital Markets Act, landmark legislation designed to force powerful “online gatekeepers” to open up their businesses to competition in the EU.

Enlarge / Brad Smith, vice chairman and president of Microsoft, is sworn in before testifying about Microsoft's cybersecurity work during a House Committee on Homeland Security hearing on Capitol Hill in Washington, DC, on June 13, 2024. (credit: SAUL LOEB / Contributor | AFP )

Microsoft is pivoting its company culture to make security a top priority, President Brad Smith testified to Congress on Thursday, promising that security will be "more important even than the company’s work on artificial intelligence."

Satya Nadella, Microsoft's CEO, "has taken on the responsibility personally to serve as the senior executive with overall accountability for Microsoft’s security," Smith told Congress.

His testimony comes after Microsoft admitted that it could have taken steps to prevent two aggressive nation-state cyberattacks from China and Russia .

Enlarge (credit: Francesco Carta fotografo | Moment )

An Indiana cop has resigned after it was revealed that he frequently used Clearview AI facial recognition technology to track down social media users not linked to any crimes.

According to a press release from the Evansville Police Department, this was a clear "misuse" of Clearview AI's controversial face scan tech, which some US cities have banned over concerns that it gives law enforcement unlimited power to track people in their daily lives.

To help identify suspects, police can scan what Clearview AI describes on its website as "the world's largest facial recognition network." The database pools more than 40 billion images collected from news media, mugshot websites, public social media, and other open sources.