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Business Upturn
22-06-2025
- Business
- Business Upturn
INVESTOR DEADLINE: Robbins Geller Rudman & Dowd LLP Announces that Red Cat Holdings, Inc. (RCAT) Investors with Substantial Losses Have Opportunity to Lead Investor Class Action Lawsuit
SAN DIEGO, June 22, 2025 (GLOBE NEWSWIRE) — The law firm of Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Red Cat Holdings, Inc. (NASDAQ: RCAT) securities between March 18, 2022 and January 15, 2025, inclusive (the 'Class Period'), have until Tuesday, July 22, 2025 to seek appointment as lead plaintiff of the Red Cat class action lawsuit. Captioned Olsen v. Red Cat Holdings, Inc. , No. 25-cv-05427 (D.N.J.), the Red Cat class action lawsuit charges Red Cat as well as certain of Red Cat's top current and former executives with violations of the Securities Exchange Act of 1934. If you suffered substantial losses and wish to serve as lead plaintiff of the Red Cat class action lawsuit, please provide your information here: You can also contact attorneys J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at [email protected]. CASE ALLEGATIONS: Red Cat, together with its subsidiaries, provides products and solutions to drone industry. Red Cat's products include, among others, the 'Teal 2' drone, a small, unmanned aircraft system designed to purportedly 'Dominate the Night' during nighttime military operations. The Red Cat class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Red Cat's Salt Lake City facility's production capacity, and defendants' progress in developing the same, was overstated; and (ii) the overall value of Red Cat's Short Range Reconnaissance Program of Record Tranche 2 contract (the 'SRR Contract') was overstated. The Red Cat class action lawsuit further alleges that on July 27, 2023, Red Cat revealed that its Salt Lake City facility could only currently produce 100 drones per month, the facility was still being built, refined, and expanded, and that construction of the facility was only 'substantially completed' and potentially could reach a production capacity of 1,000 drones per month over the next 2 to 3 years, but only with additional capital investments and manufacturing efficiencies realized. On this news, the price of Red Cat stock fell nearly 9%, according to the complaint. Then, on September 23, 2024, the Red Cat class action lawsuit further alleges that Red Cat announced its financial results for the first quarter of fiscal year 2025, reporting losses per share of $0.17, missing consensus estimates by $0.09, and revenue of $2.8 million, missing consensus estimates by $1.07 million. According to the complaint, Red Cat further disclosed that Red Cat had spent 'the past four months . . . retooling [the Salt Lake City facility] and preparing for high volume production,' while admitting that a 'pause in manufacturing of Teal 2 and building Army prototypes impacted Teal 2 sales' because, among other things, Red Cat 'couldn't produce and sell Teal 2 units while retooling [its] factory.' The Red Cat class action lawsuit alleges that on this news, the price of Red Cat stock fell more than 25%. Finally, the Red Cat class action lawsuit further alleges that on January 16, 2025, Kerrisdale Capital published a report alleging that '[t]he SRR contract that Red Cat won in November and preemptively announced without the Army's permission is much smaller and less favorable than management as intimated,' and that '[i]t's highly implausible that a mass-production facility for manufacturing drones has been built at any point in the last two years for less than $1 million.' On this news, the price of Red Cat stock fell more than 21% over two trading sessions, according to the complaint. THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Red Cat securities during the Class Period to seek appointment as lead plaintiff in the Red Cat class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Red Cat class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Red Cat class action lawsuit. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Red Cat class action lawsuit. ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world's leading law firms representing investors in securities fraud and shareholder litigation. Our Firm has been ranked #1 in the ISS Securities Class Action Services rankings for four out of the last five years for securing the most monetary relief for investors. In 2024, we recovered over $2.5 billion for investors in securities-related class action cases – more than the next five law firms combined, according to ISS. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs' firms in the world, and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information: Past results do not guarantee future outcomes. Services may be performed by attorneys in any of our offices. Contact: Robbins Geller Rudman & Dowd LLP J.C. Sanchez, Jennifer N. Caringal 655 W. Broadway, Suite 1900, San Diego, CA 92101 800-449-4900 [email protected]
Yahoo
13-06-2025
- Politics
- Yahoo
Fights over experience, records break out at NYC mayoral debate
NEW YORK (PIX11) – Democratic candidates for New York City mayor took aim at Assemblymember Zohran Mamdani during Thursday night's debate. Early voting in the Democratic primary starts on Saturday. Political strategist and professor at the University of Mount St. Vincent J.C. Polanco discusses the debate on PIX11 Morning News. Watch the video player for the full interview. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Business Wire
26-05-2025
- Business
- Business Wire
OGN INVESTOR NOTICE: Robbins Geller Rudman & Dowd LLP Announces that Organon & Co. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit
SAN DIEGO--(BUSINESS WIRE)--The law firm of Robbins Geller Rudman & Dowd LLP announces that the Organon class action lawsuit – captioned Hauser v. Organon & Co., No. 25-cv-05322 (D.N.J.) – seeks to represent purchasers or acquirers of Organon & Co. (NYSE: OGN) securities and charges Organon as well as certain of Organon's executives with violations of the Securities Exchange Act of 1934. If you suffered substantial losses and wish to serve as lead plaintiff of the Organon class action lawsuit, please provide your information here: You can also contact attorneys J.C. Sanchez or of Robbins Geller by calling 800/449-4900 or via e-mail at info@ Lead plaintiff motions for the Organon class action lawsuit must be filed with the court no later than July 22, 2025. CASE ALLEGATIONS: Organon develops and delivers health solutions through prescription therapies and medical devices. The Organon class action lawsuit alleges that defendants throughout the class period made false and/or misleading statements and/or failed to disclose that: (i) defendants concealed material information pertaining to Organon's capital allocation priorities, particularly the future of the quarterly dividend payout; (ii) in truth, Organon's optimistic reports of the dividend payout as Organon's 'number one priority' were offset by Organon's newly implemented debt reduction strategy, thus, leading to a drastic decrease – over 70% – of the quarterly dividend; and (iii) Organon planned to prioritize debt reduction following Organon's acquisition of Dermavant Sciences Ltd. The Organon class action lawsuit further alleges that on May 1, 2025, Organon reported first quarter 2025 financial results and announced that management reset Organon's dividend payout from $0.28 to $0.02. On this news, the price of Organon stock fell more than 27%, according to the complaint. THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Organon securities during the class period to seek appointment as lead plaintiff in the Organon class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Organon class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Organon class action lawsuit. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Organon class action lawsuit. ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world's leading law firms representing investors in securities fraud and shareholder litigation. Our Firm has been ranked #1 in the ISS Securities Class Action Services rankings for four out of the last five years for securing the most monetary relief for investors. In 2024, we recovered over $2.5 billion for investors in securities-related class action cases – more than the next five law firms combined, according to ISS. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs' firms in the world, and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information: Past results do not guarantee future outcomes. Services may be performed by attorneys in any of our offices.
Yahoo
21-05-2025
- General
- Yahoo
A Ship That Vanished 100 Years Ago Was Just Discovered by a Fisherman on Lake Michigan
On a foggy evening, fisherman Christopher Thuss came across a large sunken vessel in Lake Michigan The boat, later identified as the J.C. Ames, was a 160-foot tugboat built in 1881 that was intentionally sunk in 1923 A research coordinator with Wisconsin's Shipwreck Coast said the vessel was notable because "we don't have any other versions of tugboats that are quite this big"A fisherman discovered a piece of history while on Lake Michigan one foggy May evening. When he peered under the water's surface, he spotted the remains of a large vessel that hadn't been seen in more than 100 years. 'I didn't know exactly what I was looking at at first," Christopher Thuss told NBC affiliate WGBA. "I turned over that direction and the whole ship was right there." Thuss had been using sonar equipment when he came across the wreckage of a tugboat north of the Manitowoc breakwater on Tuesday, May 13. At 160 feet, the vessel, which currently rests in only nine feet of water, is notable for its size. "We don't have any other versions of tugboats that are quite this big," Caitlin Zant, research coordinator with Wisconsin's Shipwreck Coast, told the outlet. Thuss is following his family's tradition of finding shipwrecks. His step-grandmother, 'Shipwreck Suzze' Johnson, has become a local legend, locating a number of shipwrecks over the years, including three sunken vessels in three days in 2015, according to the Wisconsin Historical Society (WHS). The WHS did not immediately respond to PEOPLE's request for comment. Now, the younger generation is making its mark. After making his discovery, Thuss contacted Tamara Thomsen, a maritime archaeologist from the historical society, who then worked with Brendon Baillod, the president of the Wisconsin Underwater Archaeology Association, to identify the wreck. They determined it was the J.C. Ames, which was built in 1881 for the lumber trade, according to the historical society. The vessel was 'one of the largest and most powerful tugs on the lakes, developed 670 horsepower with her fore-and-aft compound engine… She reportedly cost $50,000 to build,' according to a passage from Green Bay Workhorses: The Nau Tug Line that was shared by WHS. Beyond tugging other watercraft, the J.C. Ames was used in the pulpwood trade and had multiple owners. When it aged and became less functional, it was taken apart and intentionally sunk in Lake Michigan in 1923, the WHS said. Never miss a story — sign up for to stay up-to-date on the best of what PEOPLE has to offer, from celebrity news to compelling human interest stories. The J.C. Ames is far from the first shipwreck to be discovered in the Great Lakes. Last fall, two maritime historians found the wreck of the John Evenson, which was lost to the water in 1895. In March, the steamship Milwaukee was found in Lake Michigan after it sank following a collision with another vessel in 1886, CBS News reported. The historical society warns divers not to remove artifacts or pieces of the ship, which is a crime. The WHS said maritime archaeologists will begin the process of listing the J.C. Ames in the State Register of Historic Places. Read the original article on People
Miami Herald
20-05-2025
- Business
- Miami Herald
Struggling fashion retail chain closed 28 store with more coming
Traditionally, retail chains that aren't growing are dying. That has changed in the modern era where many retailers have made careful decisions to get smaller in order to get healthier. It's actually hard to know if that's a successful strategy, but Macy's, J.C, Penney, Gamestop, and multiple other major chains have been selectively closing stores. Related: Walmart issues urgent message about the alarming cost of food In theory, it makes sense to get rid of stores that can't make money. The challenge, however, is when to decide that a store can't be saved. Macy's has actually closed breakeven stores as its brick-and-mortar footprint has dramatically shrunk. It's difficult to measure the impact of physical stores on digital sales. Closing a significant number of locations could lead to consumers forgetting about the brand. It's a sort of out-of-sight, out-of-mind situation. There's also the added benefit of customers in brick-and-mortar stores being able to go online when the store does not have their size. Don't miss the move: Subscribe to TheStreet's free daily newsletter That's a sale driven by the physical store that does not count when a company judges sales in that store. It's an imperfect system under which closing locations may not have the long-term benefit many retailers expect. Fossil has been trying to streamline its brand. It recently exited the smartwatch business and it has been working to properly define its brand. CEO Franco Fogliato tried to paint a positive picture during the retailer's first-quarter earnings call. "We're pleased to report another quarter of exceptional progress under our turnaround plan. Our teams delivered results ahead of our expectations, both operationally and financially. We recorded a significant improvement in sales performance on a sequential basis, drove another quarter of meaningful gross margin expansion and generated a second consecutive quarter of profitability," he said. Fogliato is confident in his company's continued climb in a challenging environment. "Despite the dynamic macro backdrop, we're not currently seeing any softening in our demand trend and continue to have confidence in our ability to drive growth to our turnaround plan," he shared. More closings: Popular Mexican chain closing all restaurants, no bankruptcyIconic mall chain shuttering more stores foreverMajor gym closing multiple locations after franchisee bankruptcyAfter Chapter 11 bankruptcy, beloved retailer closes all stores This isn't just empty bravado, according to the CEO. "Our confidence is underpinned by several factors. First and foremost is the immediate traction and positive results we're seeing from our turnaround efforts over the past two quarters. Additionally, we have a number of tailwinds to propel the business forward, a leading market position, favorable industry dynamics and a core underlying strength, including iconic brands, innovative design, talented teams in a broad global reach," he added. Part of Fossil's turnaround plan has been shrinking its brick-and-mortar footprint. "In our retail stores, we're seeing a strengthening trend in our full price location led by improved performance in our traditional watches. During the quarter, we continued to optimize the store portfolio throughout the closure of 28 additional stores," shared Fogliato. He believes these cuts are essential. "As we continue to make great progress across the strategic areas of the business, we're also taking action to transform our operating model by rightsizing Fossil Group's cost structure," he added. The store closings, which will grow to 50 in total by the end of the year. have been carefully planned. "During Q1, we closed 28 stores, ending the quarter with 220 stores. All of these closures occurred at natural lease expiration with very minimal closing costs," he said. Related: Bankrupt department store unexpectedly receives a savior Closing stores is not the only way the company is cutting expenses. "We have already taken the necessary steps to align where our cost structure to our newly defined strategies, scope and scale. This includes a reduction in workforce in February, moving some of our international markets to a more profitable distributor model and closing unproductive retail stores," the CEO explained. "These actions are expected to drive $100 million of SG&A savings in 2025 versus 2024. We're also continuing to evaluate other opportunities, including the potential sale of non-core assets." The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
