Spirit Airlines ✈ Rejects ❌ JetBlue’s Offer in Favor of Frontier Airlines

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Spirit Airlines ✈ Rejects ❌ JetBlue’s Offer in Favor of Frontier Airlines

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Spirit Airlines announced that it will continue to pursue its existing merger agreement with Frontier Airlines, rejecting a better bid from JetBlue Airways.

After Frontier first announced its plans to acquire the American ultra-low-cost carrier in a cash and stock deal valued at $2.9 billion in February this year, JetBlue offered an all-cash deal of $3.6 billion last month.

JetBlue even offered to throw in a $200 million breakup payout in case antitrust issues prevented the deal from going through.

Regardless of the better offer, Spirit rejected the deal, citing JetBlue’s North American Alliance (NEA) with American Airlines as its main concern.

“The Board continues to believe that the pending transaction with Frontier represents the best opportunity to maximize value and recommends that Spirit shareholders adopt the merger agreement with Frontier,” the company said.

Spirit’s deal with Frontier is expected to close in the second half of 2022, subject to customary closing conditions, including completion of the ongoing regulatory review process and approval by Spirit stockholders.

Amazon Employees at Second Staten Island Warehouse Reject 🚫 Unionization

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Amazon warehouse workers on Staten Island overwhelmingly rejected a union bid, giving a big blow to organizers who last month secured their first successful US organizing effort in the e-commerce giant’s history.

According to the voter list provided by Amazon, about 1,633 workers were eligible to vote at the warehouse.

618 (62%) votes were against the union, as opposed to 380 (38%) workers who voted in favor of the grassroots union.

Two ballots were voided. The voting results still need to be formally certified by the National Labor Relations Board.

Some ballots that were challenged by either the Amazon Labor Union (ALU) or Amazon were not sufficient to bend the outcome. Both the concerned parties may file their objections to the election by May 9.

Over the past few months, Amazon has been facing a growing wave of labor organization efforts as employees are seeking higher pay, better treatment at the company’s warehouses, and improved facilities.

Amazon has been persistent and aggressive in trying to discourage employees from organizing, and this news gives a major blow to the union efforts of warehouse workers around the country.

Meta Platforms Sued ⚖ by Dfinity Foundation Over Logo Infringement

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Dfinity Foundation, a Switzerland-based non-profit organization that develops the Internet Computer blockchain, has filed a lawsuit alleging Meta for trademark infringement over its infinity logo.

In a court filing with the United States District Court for the Northern District of California, the lawyers of Dfinity alleged Meta Platforms of using a new logo that will cause consumer confusion with its own infinity-symbol logo.

“Despite knowledge of Dfinity’s mark, Meta chose to proceed with its application to obtain registration in some of the same or similar areas in which Dfinity has already obtained registration for its mark,” the blockchain firm said in its lawsuit.

According to Dfinity, Meta filed an application with the U.S. Patent and Trademark Office (USPTO) in March 2022, while the same office granted Dfinity registration in October 2018.

The legal team of Dfinity also claimed that it has been using the infinity symbol on its website since March 2017.

Dfinity has asked the court to stop Meta from using the same logo and pay an unspecified amount of money for the damages.

End-to-End Cloud App Security Solution Startup Traceable AI Raises $60 Million 💰

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Traceable AI, a U.S.-based startup that combines end-to-end distributed tracing, cloud-native integrations, and advanced behavioral analytics to provide modern application, and API security for businesses, has raised $60 million in its Series B funding round.

The funding was led by IVP and also saw participation from BIG Labs, Unusual Ventures, Tiger Global Management, and several undisclosed angel investors, valuing the company at over $450 million post-money.

Founded in 2018 by serial entrepreneurs Jyoti Bansal and Sanjay Nagaraj, Traceable leverages machine learning technology to analyze data from the user and session to the application code to learn normal application behavior and detect activities that deviate from the norm.

Designed for cloud-native applications, Traceable natively instruments Kubernetes, Envoy Service Mesh, Serverless, and other cloud-native environments to secure transactions, allowing businesses to easily analyze attack attempts and perform root cause analysis to conduct security operations.

Traceable plans to invest the fresh funds in product development, recruitment, and customer acquisition.

Around the Web 🌐

Over $1.6 Billion Exploited From Defi so Far in 2022: Since the start of 2022, the decentralized finance (DeFi) space has been prevalent with hacks, exploits, and scams. According to blockchain platform CertiKTech, more than $1.6 billion in crypto has been stolen from users, surpassing the total amount stolen in 2020 and 2021 combined.


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