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An Illinois toy company challenged President Donald Trump’s tariffs in front of the Supreme Court on Tuesday in a long shot bid to press the justices to quickly decide whether they are legal.Learning Resources Inc. filed an appeal asking the Supreme Court to take up the case soon rather than let it continue to play out in lower courts. The company argues the Republican president illegally imposed tariffs under an emergency powers law rather than getting approval from Congress.While the company won an early victory in a lower court, the order is on hold as an appeals court considers a similar ruling putting a broader block on Trump’s tariffs. The appeals court has allowed Trump to continue collecting tariffs under the emergency powers law ahead of arguments set for late July.The company argued in court documents the case can’t wait that long, “in light of the tariffs’ massive impact on virtually every business and consumer across the Nation, and the unremitting whiplash caused by the unfettered tariffing power the President claims.”The Supreme Court is typically reluctant to take up cases before appeals courts have decided them, lowering the odds that the justices will agree to hear it as quickly as the company is asking.Still, Learning Resources CEO Rick Woldenberg said tariffs and uncertainty are taking a major toll now. He’s looking ahead to the back-to-school and holiday seasons, when the company usually makes most of its sales for the year.“All the people that are raising their prices are doing it with a sense of dread,” Woldenberg told The Associated Press. But, “we do not have a choice. We absolutely do not have a choice.”Attorneys for Learning Resources and sister company hand2mind, suggested the court could consider whether to take up the case before the end of the term in June and hear arguments when their next term begins in the fall, a relatively quick timetable.The Trump administration has defended the tariffs by arguing that the emergency powers law gives the president the authority to regulate imports during national emergencies and that the country’s longtime trade deficit qualifies as a national emergency.Trump has framed tariffs as a tool to lure factories back to America, raise money for the Treasury Department and strike more favorable trade agreements with other countries.“The Trump administration is legally using the powers granted to the executive branch by the Constitution and Congress to address our country’s national emergencies of persistent goods trade deficits and drug trafficking. If the Supreme Court decides to hear this unfounded legal challenge, we look forward to ultimately prevailing,” said White House spokesperson Kush Desai.Woldenberg said he’s putting “enormous resources” into shifting his company’s supply base but the process is time-consuming and uncertain.“I think that our case raises uniquely important questions that this administration won’t accept unless the Supreme Court rules on them,” he said.Based in Vernon Hills, Illinois, the family-owned company’s products include the Pretend & Play Calculator Cash Register for $43.99 and Botley the Coding Robot for $57.99.__Associated Press writer Mark Sherman contributed to this report. Lindsay Whitehurst, Associated Press
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E-Commerce
The Backrooms started as internet folklore posted on 4Chan. Now its been greenlit by A24. Last week, it was announced that 19-year-old YouTuber Kane Parsons will direct the sci-fi/horror concept The Backrooms for A24, with Chiwetel Ejiofor and Renate Reinsve set to star. This makes Parsons the youngest director the company has ever worked with. Variety described the upcoming film as “based on the world of Parsons viral YouTube horror universe.” The rest of the plot remains under wraps, with production expected to start this summer. Parsons posted the nine-minute short film The Backrooms (Found Footage) to his YouTube channel, Kane Pixels, in January 2022. The film was inspired by an internet storyor creepypasta (a term used to refer to short horror fiction posted anonymously on internet message boards)that first appeared on 4Chan. Credited as the origin of the internets obsession with liminal spaces, the original post read: If you’re not careful and you noclip out of reality in the wrong areas, you’ll end up in the Backrooms, where it’s nothing but the stink of old moist carpet, the madness of mono-yellow, the endless background noise of fluorescent lights at maximum hum-buzz. The image accompanying the post was later traced back to a former furniture store in Wisconsin, unoccupied during a renovation. The creepypasta continues: approximately six hundred million square miles of randomly segmented empty rooms to be trapped in. God save you if you hear something wandering around nearby, because it sure as hell has heard you. Drawing on this eerie concept, Parsons original short is set in 1996, when a filmmaker is suddenly transported to the carpeted room with no way out, pursued by something that only appears in his peripheral vision. Following the shorts viral success, the filmmaker and VFX artist has posted further installments to his YouTube channel, which now boasts 2.69 million subscribers. Fans have long called for Parsons Hollywood debut. “This man is actually insane, he manages to create horror that is scarier than 90% of Hollywood horror films,” one fan wrote under his original YouTube video. “I feel like there should be a complete film or series of The Backrooms, another commented. The fandom is gigantic and there’s everything you need for a movie. A24 agrees.
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E-Commerce
Slide Insurance Holdings is set to debut on the Nasdaq today. The residential insurance company out of Florida will make its initial public offering for $17 per share. Heres everything you need to know about Slides IPO. What is Slide? Slide is a technology-enabled insurance company for homeowners. Bruce and Shannon Lucas launched Slide in 2022 with coverage options for home, condo, and commercial residential owners. The coastal company has over 5,000 agents across Florida and South Carolina. When is Slides IPO? Slide announced its share price on Tuesday and should list its stock today, Wednesday, June 18. The offer is expected to close two days later, on Friday, June 20. What is Slides stock ticker? Slides slock will have the ticker SLDE. Which exchange will Slides shares trade on? Slide will trade its shares on the Nasdaq Global Select Market. What is the IPO share price of Slide? Slides IPO price is $17 per share. That’s at the higher end of an estimated target range it announced earlier this month. How many Slide shares are available in its IPO? There will be 24 million shares of SLDE released as part of the IPO. Slide is providing 16,666,667 of these shares, while stockholders are selling the remaining 7,333,333 shares. These selling stockholders are also granting underwriters 30 days to purchase another 3.6 million shares. How much will Slide raise in its IPO? Slide should receive $283 million in its IPO. Is Slide profitable? According to a filing with the Securities and Exchange Commission (SEC), Slides total revenue for 2024 increased to $846.8 million, from $468.5 million in 2023. It continues to grow, reporting $281.5 million in revenue for the first quarter of 2025, compared to $199.1 million for the same period in the year prior. The company reported net income of $201 million last year, up from $87 million in 2023. What else is there to know? Despite the current economic turmoil, many companies are still proceeding with IPOsand finding success. Fintech companies Chime Financial and Circle Internet Group had positive results after debuting this month on the Nasdaq and the New York Stock Exchange, respectively. Each saw their stock shoot up to well above their IPO price, a positive sign for upcoming offerings like Slide.
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E-Commerce
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