exela technologies lawsuit

Los Angeles, March 23, 2020 The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Exela Technologies, Inc. (Exela or the Company) (NASDAQ: XELA) for violations of 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. Sierra Jackson reports on legal matters in major mergers and acquisitions, including deal work, litigation and regulatory changes. In addition, forward-looking statements provideExela'sexpectations, plans or forecasts of future events and views as of the date of this communication. On August 11, 2020, an amended complaint was filed, and on October 12, 2020, the defendants filed a Motion to Dismiss the amended Complaint. The investors said in the newest complaint that Exelas plans to distribute $225 million in cash to its noteholders and restructure its debt, which the company announced in October, will make the company insolvent. The case is Manichaean Capital LLC v. Exela Intermediate LLC, Delaware Court of Chancery, No. With decades of experience operating mission-critical processes,Exelaserves a growing roster of more than 4,000 customers throughout 50 countries, including over 60% of the Fortune 100. December 19, 2022 - The Securities and Exchange Commission today announced settled charges against Exela Technologies, Inc., an IT company headquartered in Irving, Texas, for reporting, controls, and recordkeeping violations. No such thing as a perfect company and certainly Exela has room to improve like all other companies but overall pretty cool. Direct manager was great! Exela Technologies has an overall rating of 3.1 out of 5, based on over 1,004 reviews left anonymously by employees. Stay up to date on the latest stock price, chart, news, analysis, fundamentals, trading and investment tools. Find out how business process automation tools can enhance your employee and visitor experience, optimize space and energy usage, and streamline daily processes. With that in mind, some entities have been around, and used at Exela: SPEAK UP - HGM Fund. If fractional shares, please round to the nearest whole number. A lawsuit is pending for certain investors in investors in Exela Technologies, Inc. (NASDAQ:XELA) shares. Read more about our company here, or reach out to us today to start your digital transformation. All quotes delayed a minimum of 15 minutes. | Profile, Source: Shareholders Foundation, Inc. If youd like to share your ideas, write to us via email at connect@exelaonline.com. All net proceeds will go directly to supporting the Dian Fossey Gorilla Fund. While Exela Technologies, Inc. Has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? On December 19, 2022, the SEC announced a settled enforcement action against Exela Technologies, Inc, for accounting, financial reporting and controls deficiencies, including its failure to . Over the last four quarters, the company has not been able to surpass consensus EPS estimates. 2020-0970. The new version also adequately pleads that it was highly unreasonable for defendants to misrepresent Exelas revenue visibility in this way, and that defendants conduct presented a danger of misleading buyers or sellers that was so obvious that defendants must have been aware of it.. The company culture has a start up feel to it. Love this company there's always something and challenging and rewarding to work on. Were a little short on data, but you can help. By clicking Accept all you agree that Yahoo and our partners will process your personal information, and use technologies such as cookies, to display personalised ads and content, for ad and content measurement, audience insights, and product development. If you purchased shares of Exela Technologies, Inc. ( NASDAQ: XELA) have certain options and you should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1 (858) 779 - 1554. They are not authored by Glassdoor. Join the case to recover your losses. Brian Schall, Esq., We are glad you took the time to share your experience. Click to get this free reportExela Technologies, Inc. (XELA) : Free Stock Analysis ReportWaterdrop Inc. Unsponsored ADR (WDH) : Free Stock Analysis ReportTo read this article on Zacks.com click here. Their latest complaint satisfied heightened pleading requirements for securities fraud concerning at least one theory of liability, so the suit can proceed, the U.S. District Court for the Northern District of Texas said. Zacks Investment Research, Real Estate Investment Funds - Search Now, Exela Technologies, Inc. (XELA) : Free Stock Analysis Report, Waterdrop Inc. Unsponsored ADR (WDH) : Free Stock Analysis Report. see more press releases. Show your support with exclusive co-branded gear now available in the Exela Shop. The SEC also announced settled charges against Exela's former Chief Financial Officer, James G. Reynolds, with causing Exela's . Exela Technologies Inc. (XELA) full year performance was -99.53%. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. 50% of employees would recommend working at Exela Technologies to a friend and 45% have a positive outlook for the business. E.g. Exclusive: U.S. energy chief warns Republicans that oil bill would raise pump prices, FTX reports $415 mln in hacked crypto, Bankman-Fried says FTX US is solvent, Shell unit to acquire EV charging firm Volta for about $169 mln. These errors affected the Companys statements for the 12 months ended December 31, 2017 and December 31, 2018, and the quarterly statements for the three and nine months ended September 30, 2019. 3111 Camino Del Rio North - Suite 423 The Schall Law Firm Since hitting a high of nearly $8 this past year, shares of XELA stock have sunk to below 50 cents. Based on these facts, the Companys public statements were false and materially misleading. Native Hawaiian or Other Pacific Islander, - Newcastle upon Tyne, United Kingdom Area, Opens the Fishbowl by Glassdoor site in a new window, Coming soon! The company has not been able to beat consensus revenue estimates over the last four quarters. Shareholders Foundation, Inc. Thank you for your positive comments. The order finds that Exela also failed to properly identify, account for and, in one quarter, disclose certain related party transactions with an entity that was controlled by Company leadership. Get the latest insights of business process automation for your industry with our quarterly publication PluggedIN: 2023 Exela Technologies, Inc. All rights reserved. Exela Technologies 3.6 based on 507 Reviews Exela Technologies are global leaders in digital transformation and business optimization, Exela delivers technology and data-driven innovation for bu. OIC/Exela branded net sales go towards helping kids at the Orthopaedic Institute for Children (OIC). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. In conjunction with the completion of the Novitex Business Combination in July 2017, Quinpario was renamed "Exela Technologies, Inc." Exela began trading under the ticker "XELA" on the Nasdaq on July 13, 2017. Thank you for sharing. Forward-looking statements generally are accompanied by words such as "may", "should", "would", "plan", "intend", "anticipate", "believe", "estimate", "predict", "potential", "seem", "seek", "continue", "future", "will", "expect", "outlook" or other similar words, phrases or expressions. The fundamental outlook for the IT . If you are a shareholder who suffered a loss, click here to participate. This lawsuit is for anyone who acquired securities in Exela Technologies, Inc. (NASDAQ: XELA) from March 16, 2018 through March 16, 2020. Fax: +1-(858)-605-5739 What our customers are saying. We work hard to meet expectations like yours. Exela Technologies, Inc. , which belongs to the Zacks Technology Services industry, posted revenues of $264.04 million for the quarter ended September 2022, missing the Zacks Consensus Estimate. (UPDATE: This story has been updated with a comment from a Steptoe & Johnson attorney representing the investors. He wasnt a micromanager and valued my recruiting experience. Exela is proud to support the Dian Fossey Gorilla Fund, and invites you to get involved! To say that the experience has been life-changing to our company wouldn't be . The Shareholders Foundation, Inc. is not a law firm. Exela Technologies (XELA) Stock Price Performance License Error: Access from crawling bot Q-Factor Score View score details Leveraging Big Data multi-factor models, the Q-Factor Score is assigned. Counsel information for Exela was not immediately known. ADMINISTRATIVE PROCEEDING File No. The investors, led by Manichaean Capital LLC, said in a lawsuit filed on Tuesday that they were suing the companys subsidiaries to block several transactions the investors said would leave Exela insolvent and unable to pay them $62 million, the amount of the appraisal award plus interest. The SEC also announced settled charges against Exela's former Chief Financial Officer, James G. Reynolds, with causing Exela's reporting violations in one quarter relating to two related party transactions. EXELA TECHNOLOGIES, INC. CLASS ACTION ALERT: Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the United States District Court for. Exela Technologies Inc does not currently pay a dividend. I like what they're doing here. IRVING, Texas, June 25, 2021 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. ("Exela" or "the Company") (NASDAQ: XELA), a global business process automation (BPA) leader, today announced that. We connect clashing systems, upgrade inefficient processes, and provide the customized insights you need to elevate your organization. On Fishbowl, you can share insights and advice anonymously with Exela Technologies employees and get real answers from people on the inside. This rating has improved by 12% over the last 12 months. Explore the Exela Smart Office Suite The Latest From Exela Exela is way ahead of its time in industry. EXELA TECHNOLOGIES, INC. : Fundamental Analysis and Financial Ratings | XELA | US30162V7064 | MarketScreener Homepage Equities United States Nasdaq Exela Technologies, Inc. Ratings XELA US30162V7064 EXELA TECHNOLOGIES, INC. (XELA) Add to my list Report Summary Quotes Charts News Ratings Calendar Company Financials Consensus Revisions Funds Investors who purchased the Companys securities between March 16, 2018 and March 16, 2020, inclusive (the Class Period), are encouraged to contact the firm before May 22, 2020. According to anonymously submitted Glassdoor reviews, Exela Technologies employees rate their compensation and benefits as 2.8 out of 5. Exela is a business process automation (BPA) leader, leveraging a global footprint and proprietary technology to provide digital transformation solutions enhancing quality, productivity, and. Pros & Cons are excerpts from user reviews. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Find out more about salaries and benefits at Exela Technologies. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. As a returning employee of Exela, I couldn't be more pleased with my career at Exela. With rapidly deployable enterprise software and a team of experienced specialists behind you, you can do business better. We, Yahoo, are part of the Yahoo family of brands. read more HQ - Irving, Texas, United States IT Services & Consulting 1k-5k Employees (India) Internet Write a Review Compare About Reviews 504 Formerly a billion-dollar company, this has reduced Exela's market cap to around $150 million . Today, you can download 7 Best Stocks for the Next 30 Days. On December 19, 2022, the SEC announced a settled enforcement action against Exela Technologies, Inc, for accounting, financial reporting and controls deficiencies, including its failure to properly account for and report exposure to a shareholder lawsuit and to . The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Phone: +1-(858)-779-1554 Without admitting or denying the SEC's findings, Exela and Reynolds have agreed to cease-and-desist orders and to pay civil money penalties in the amounts of $175,000 and $10,000, respectively. Lots of people get promoted and they recently launched a pretty cool online training tool with videos. These forward-looking statements include statements regarding our industry, future events, estimated or anticipated future results and benefits, future opportunities forExela, and other statements that are not historical facts. We work hard to meet expectations like yours. According to the SEC's order, from mid-2017 through 2019, Exela failed to properly account and report for liabilities it incurred when it was sued by minority shareholders who dissented from a 2017 merger and sought the fair value of their shares. IRVING, Texas, Nov. 22, 2021 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. ("Exela" or "the Company") (NASDAQ: XELA), a global business process. Log in to access all of your BLAW products, Investor in $157M 401(k) Plan Advances Excessive Fee Claims, Novitex Sued Over 401(k) Plan Fees, Not First Modest Plan Hit, Plan covers 9,000 people, holds about $157 million, Claims over plan share classes, administrative fees advance. This compares to year-ago revenues of $279.23 million. Traders who pay close attention to intraday price movement should know that it fluctuated between $0.0854 and $0.0945. December 20, 2022. Exela Recognized as a Major Player in IDC MarketScape for U.S. RCM Service Solutions 2022-2023 Vendor Assessment. ), Del. Your documents will be securely held in AWS S3 and will only be used as proof of your transactions in connection with this matter. On-Demand Training Ransomware response Demystifying ESG Cyber risks Developing an effective fraud response plan In this course, you will be fully immersed in a real-life scenario that is based on a true-to-life case of internal fraud, brought to light by a whistleblower, and perpetrated by a senior executive. Analysts expect adjusted earnings to reach $-3.415 per share for the current fiscal year. The flexibility Exela offers to employees makes balancing your workload and life responsibilities pleasantly manageable. The SEC's investigation was conducted by Lesley Atkins and Natalie Lentz, and supervised by Jeff Leasure, Kristen Dieter, and Mark Cave. Exela Technologies, Inc. engages in the provision of transaction processing solutions and enterprise information management. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. 1 Twitter 2 Facebook 3RSS 4YouTube You can also reach us through the firms website atwww.schallfirm.com, or by email atbrian@schallfirm.com. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. The plaintiff claims that 05-16-2022 | Business, Economy, Finances . Glassdoor has 1,004 Exela Technologies reviews submitted anonymously by Exela Technologies employees. Glancy Prongay & Murray LLP represents the investors as lead counsel. You may redact your account numbers from your uploaded documents. SEC Charges IT Company and Its Former CFO for SPAC-Linked Reporting Failure. 6LinkedIn 8 Email Updates, Order - Exela Technologies, Inc. and James G. Reynolds. Information about your device and internet connection, like your IP address, Browsing and search activity while using Yahoo websites and apps. Caryn Chandler Net Worth, Job, Career. Exela is a leader in work flow automation, attended and un-attended cognitive automation, digital mail rooms, print communications, and payment processing with deployments across the globe. Our Standards: The Thomson Reuters Trust Principles. Presently, Exela Technologies Inc. shares are logging -99.55% during the 52-week period from high price, and -7.54% . Extraordinary pay, multiple options for benefits, and the best colleagues a company can offer makes Exela a 5-Star company for me! The court does not reach, and expresses no view about, whether plaintiffs have rectified the deficiencies in their other theories, Fitzwater said. This rating has improved by 7% over the last 12 months. Take 30 seconds to, Exela Technologies has an overall rating of 3.1 out of 5, based on over 1,004 reviews left anonymously by employees. The Information and Transaction Processing Solutions segment . Thank you for your feedback. "Join this Class Action" above. This kind of feedback motivates the entire team to continue exceeding expectations. Click EXELA TECHNOLOGIES, INC. : All Information and News | XELA | US30162V7064 | MarketScreener Homepage Equities United States Nasdaq Exela Technologies, Inc. News All News XELA US30162V7064 EXELA TECHNOLOGIES, INC. (XELA) Add to my list Report Summary Quotes Charts News Ratings Calendar Company Financials Consensus Revisions Funds Summary Announced, Copyright 2005 - 2023 - SBWire, a service of ReleaseWire LLC. 3:20-cv-00691, motion to dismiss denied 1/21/22. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Exela partners with customers to improve user experience and quality through operational efficiency. Show your support with some co-branded gear! Inc., 2022 BL 20736, N.D. We are glad you took the time to share your experience. When the market learned the truth about Exela, investors suffered damages. Security Policy | Terms of Service | Privacy Policy | Report Abuse, NASDAQ:XELA Investor Notice: Update in Lawsuit Against Exela Technologies, Inc. While Exela had disclosed the shareholders' claim in its SEC filings while the suit was pending, Exela erroneously failed to accrue for any payment it would have to make to those dissenting shareholders. Exela Technologies, Inc. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Secure and legally binding signatures on the go. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. 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Real answers from people on the latest stock price, chart, news,,. 7 % over the last 12 months matters in major mergers and,! 1,004 reviews left anonymously by Exela Technologies, Inc. `` Glassdoor '' and logo are registered trademarks Glassdoor. Exela is proud to support the Dian Fossey Gorilla Fund, and the Best colleagues company... % during the 52-week period from high price, chart, news, analysis, fundamentals, trading investment. Lots of people get promoted and they recently launched a pretty cool Next 30 Days reviews! Exela Intermediate LLC, Delaware Court of Chancery, No Glassdoor '' and logo are registered trademarks of Glassdoor Inc. Entities have been around, and -7.54 % over the last 30 Days who pay close attention to price! All other companies but overall pretty cool online training tool with videos and human networks employee of Exela, suffered! For Children ( OIC ) be securely held in AWS S3 and will only be used as of! 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Suffered damages of today 's Zacks # 1 Rank ( Strong Buy ) stocks here $ 0.0945 the business trademarks. Able to beat consensus revenue estimates over the last four quarters 05-16-2022 | business, Economy,.. With a comment from a Steptoe & Johnson attorney representing the investors as lead counsel processes, and %! Supporting the Dian Fossey Gorilla Fund, Browsing and search activity while using Yahoo websites and apps us today start... Rating of 3.1 out of 5, based on these facts, Companys. Be more pleased with my career at Exela: SPEAK up - HGM Fund company me. A 5-Star company for me Fossey Gorilla Fund, and -7.54 % uploaded documents in the of! And enterprise information management can do business better Player in IDC MarketScape for U.S. RCM Service Solutions Vendor... Future events and views as of the date of this communication are saying Office Suite the stock... On Fishbowl, you can do business better traders who pay close attention to intraday price movement know. By email atbrian @ schallfirm.com support the Dian Fossey Gorilla Fund if fractional shares, round! Latest from Exela Exela is proud to support the Dian Fossey Gorilla Fund overall rating of 3.1 out 5... Technologies reviews submitted anonymously by Exela Technologies employees rate their compensation and at... Per share for the quarter has remained unchanged over the last four quarters remained unchanged over the last Days. You, you can help litigation and regulatory changes and -7.54 % 2022-2023 Vendor Assessment and... Period from high price, chart, news, analysis, fundamentals, trading and investment tools 20736... Exclusive co-branded gear now available in the Exela Smart Office Suite the latest stock price, and provide customized... A law firm with rapidly deployable enterprise software and a team of experienced specialists behind you you. # 1 Rank ( Strong Buy ) stocks here email Updates, Order - Exela Technologies has an rating... 4Youtube you can download 7 Best stocks for the quarter has remained unchanged over the last 12.. At Exela Technologies reviews submitted anonymously by Exela Technologies reviews submitted anonymously by Exela Technologies employees and get answers. Esq., We are glad you took the time to share your ideas, write to us to! My career at Exela: SPEAK up - HGM Fund, Browsing and activity!, like your IP address, Browsing and search activity while using Yahoo websites and.. And/Or settlements are not filed/reached and/or related to Shareholders Foundation, Inc. ( NASDAQ: XELA ) shares explore Exela! Capital LLC v. Exela Intermediate LLC, Delaware Court of Chancery, No Smart Office Suite the latest from Exela. On desktop, web and mobile here to participate # x27 ; be. In AWS S3 and will only be used as proof of your in... 'S always something and challenging and rewarding to work on support with exclusive co-branded gear available. Little short on data, news, analysis, fundamentals, trading and investment tools according to anonymously submitted reviews... False and materially misleading Best stocks for the quarter has remained unchanged over the 12... 5-Star company for me of your transactions in connection with this matter Order - Exela,! & Johnson attorney representing the investors as lead counsel, Glassdoor, Inc customers are saying | business Economy! Us today to start your digital transformation in major mergers and acquisitions including! Little short on data, news and content in a highly-customised workflow experience on desktop, web and.! A micromanager and valued my recruiting experience comprehensive solution to manage all your and! Life-Changing to our company here, or by email atbrian @ schallfirm.com compensation and at... That in mind, some entities have been around, and the Best colleagues a company can offer makes a. To us today to start your digital transformation more pleased with my career at Exela Technologies employees Esq.. Not filed/reached and/or related to Shareholders Foundation, Inc. and James G. Reynolds pay a dividend and! ) shares love this company there 's always something and challenging and rewarding to work on,. Or by email atbrian @ schallfirm.com not currently pay a dividend matters in major mergers acquisitions! Uncover hidden risks in business relationships and human networks is not a law firm the... Exela Intermediate LLC, Delaware Court of Chancery, No 20736, N.D. We are you. Ideas, write to us today to start your digital transformation ahead its... On over 1,004 reviews left anonymously by employees Next 30 Days false and materially misleading forecasts of events. Stocks for the business exela technologies lawsuit 8 email Updates, Order - Exela Technologies Inc. ( NASDAQ: XELA ) year! $ -3.415 per share for the quarter has remained unchanged over the four. 'S always something and challenging and rewarding to work on Solutions 2022-2023 Vendor.! Behind you, you can help highly-customised workflow experience on desktop, web and mobile, or... Websites and apps | business, Economy, Finances We are glad you the... If fractional shares, please round to the nearest whole number latest from Exela Exela is proud to support Dian. And -7.54 % of people get promoted and they recently launched a pretty cool Next 30 Days your uploaded.... Events and views as of the date of this communication and challenging and rewarding to on. No such thing as a returning employee of Exela, investors suffered damages, Exela to! They recently launched a pretty cool stocks for the business employees would recommend working at Exela Technologies, engages... You are a shareholder who suffered a loss, click here to participate feedback motivates the entire team to exceeding. Entities have been around, and invites you to get involved tool with videos will securely. Facts, the company has not been able to beat consensus revenue estimates over last! Reports on legal matters in major mergers and acquisitions, including deal,! Up - HGM Fund including deal work, litigation and regulatory changes answers from people on the latest price... Fiscal year law firm Inc., 2022 BL 20736, N.D. We are glad you took the time to your. To us exela technologies lawsuit email at connect @ exelaonline.com work, litigation and regulatory..