Latest news with #USSecuritiesandExchangeCommission
Bloomberg
2 days ago
- Business
- Bloomberg
Insider Trading on SEC Filings
The essential fact of insider trading is that there is a gap between when the insiders of a company know something and when it becomes public. The chief financial officer will get the draft earnings release, and she will circulate it among the executive team, and they will fine-tune the language, and there will be a delay of hours or days in which they know the earnings but the market doesn't. Or two companies will start negotiating a merger, and due diligence and negotiations will take weeks before the deal is finalized and announced. And during those delays, various people — executives, advisers, others — will know the news, and if they trade on it (1) they can make money and (2) that's illegal insider trading. But there is another form of insider trading that relies on a different gap, the gap between when the company starts making information public and when it finishes. When the earnings are finalized, when the merger agreement is signed — or often when they are just close enough — the company will fire up the computer systems that it uses to make information public. It will get ready to publish the information on its website. It will get ready to put out a press release on the newswires. It will get ready to file the information with the US Securities and Exchange Commission, whose Electronic Data Gathering, Analysis and Retrieval system (Edgar) collects and publishes information from US public companies. These processes are not instantaneous. You don't just write the press release in your phone's Notes app and then send it simultaneously to your website and the newswire and Edgar. Each of them has its own somewhat temperamental interface, and you have to format your news for each of them. That takes time and specialized skills, and when the CFO says 'let's push the button on earnings,' there will be some interlude where the CFO knows the earnings, and the various filing specialists know the earnings, and the market doesn't.
Indian Express
5 days ago
- Business
- Indian Express
SEC updates US court on efforts to serve legal documents in Adani case
The US Securities and Exchange Commission (SEC) has filed a status update with a federal court in New York, detailing its ongoing efforts to serve legal documents to billionaire Gautam Adani and his nephew Sagar in connection with a civil securities case filed last year. In a June 27 letter submitted to Magistrate Judge James R Cho of the US District Court for the Eastern District of New York (EDNY), the SEC said it is continuing to pursue formal service of the summons and complaint under the provisions of the Hague Service Convention. The defendants, who are based in India, are yet to be officially served. US SEC has to serve the summons to Adani Group founder and chairman Gautam Adani and his nephew Sagar in the alleged USD 265 million payoffs to win lucrative renewable power supply contracts, through proper diplomatic channels as it has no jurisdiction to summon a foreign national directly. The SEC originally filed the complaint on November 20, 2024, alleging that two violated US securities laws by making false and misleading statements related to a September 2021 bond offering by Adani Green Energy Ltd. According to the SEC, Rule 4 (f) of the Federal Rules of Civil Procedure governs service in foreign jurisdictions and permits the use of international treaties, such as the Hague Convention. The rule does not impose a specific time limit for service, provided reasonable efforts are being made
Time of India
5 days ago
- Business
- Time of India
US SEC yet to serve legal documents to Gautam Adani, his nephew in alleged $265 million bribery case
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The US Securities and Exchange Commission (SEC) has filed a status update with a federal court in New York, detailing its ongoing efforts to serve legal documents to billionaire Gautam Adani and his nephew Sagar in connection with a civil securities case filed last a June 27 letter submitted to Magistrate Judge James R Cho of the US District Court for the Eastern District of New York (EDNY), the SEC said it is continuing to pursue formal service of the summons and complaint under the provisions of the Hague Service defendants, who are based in India, are yet to be officially SEC has to serve the summons to Adani Group founder and chairman Gautam Adani and his nephew Sagar in the alleged USD 265 million payoffs to win lucrative renewable power supply contracts, through proper diplomatic channels as it has no jurisdiction to summon a foreign national SEC originally filed the complaint on November 20, 2024, alleging that two violated US securities laws by making false and misleading statements related to a September 2021 bond offering by Adani Green Energy Ltd According to the SEC, Rule 4 (f) of the Federal Rules of Civil Procedure governs service in foreign jurisdictions and permits the use of international treaties, such as the Hague Convention. The rule does not impose a specific time limit for service, provided reasonable efforts are being made.
Cision Canada
5 days ago
- Business
- Cision Canada
TELUS closes its US$ junior subordinated notes offering Français
VANCOUVER, BC, June 27, 2025 /CNW/ - TELUS announced today it has successfully closed its previously announced offering of US$1.5 billion aggregate principal amount of Fixed-to-Fixed Rate Junior Subordinated Notes (the "Notes") in two series. The Notes were offered through a syndicate of underwriters led by J.P Morgan Securities LLC, RBC Capital Markets, LLC and Wells Fargo Securities, LLC. The net proceeds of the offering will be used to fund TELUS' previously announced tender offers. In the event that any tender offer is not consummated or not all of the net proceeds are used to fund the tender offers, TELUS intends to use the remaining net proceeds from the offering for the repayment of debt, including commercial paper (incurred for general corporate purposes), and for other general corporate purposes. This news release does not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction. The securities offered have not been approved or disapproved by any securities regulatory authority in Canada or the United States, nor has any authority passed upon the accuracy or adequacy of the short form base shelf prospectus or the prospectus supplement. Copies of the short form base shelf prospectus and the prospectus supplement relating to the offering of the Notes filed with the US Securities and Exchange Commission may be obtained from the Chief Legal and Governance Officer of TELUS at 510 W. Georgia St., 23rd Floor, Vancouver, British Columbia V6B 0M3 (telephone 604-695-6420). Copies of these documents are available electronically on the Electronic Data Gathering, Analysis, and Retrieval system, administered by the US Securities and Exchange Commission ("EDGAR") at Investors should read the short form base shelf prospectus and prospectus supplement before making an investment decision. The Notes were not offered in Canada or to any resident of Canada except in transactions exempt from the prospectus requirements of applicable Canadian securities laws. Forward-Looking Statements This news release contains statements about future events pertaining to the offering, including the intended use of the net proceeds of the offering. By their nature, forward-looking statements require us to make assumptions and predictions and are subject to inherent risks and uncertainties including risks associated with capital and debt markets. Readers are cautioned not to place undue reliance on forward-looking statements as a number of factors could cause actual future performance and events to differ materially from those described in the forward-looking statements. Accordingly, this news release is subject to the disclaimer and the qualifications and risk factors as set out in our 2024 annual management's discussion and analysis, and in other TELUS public disclosure documents and filings with securities commissions in Canada (on SEDAR+ at and in the United States (on EDGAR at The forward-looking statements contained in this news release describe our expectations at the date of this news release and, accordingly, are subject to change after such date. Except as required by law, TELUS disclaims any intention or obligation to update or revise forward-looking statements. About TELUS TELUS (TSX: T, NYSE: TU) is a world-leading communications technology company operating in more than 45 countries and generating over C$20 billion in annual revenue with more than 20 million customer connections through our advanced suite of broadband services for consumers, businesses and the public sector. We are committed to leveraging our technology to enable remarkable human outcomes. TELUS is passionate about putting our customers and communities first, leading the way globally in client service excellence and social capitalism. Our TELUS Health business is enhancing more than 150 million lives across 200 countries and territories through innovative preventive medicine and well-being technologies. Our TELUS Agriculture & Consumer Goods business utilizes digital technologies and data insights to optimize the connection between producers and consumers. Guided by our enduring 'give where we live' philosophy, TELUS, our team members and retirees have contributed C$1.8 billion in cash, in-kind contributions, time and programs including 2.4 million days of service since 2000, earning us the distinction of the world's most giving company. For more information, visit or follow @TELUSNews on X and @Darren_Entwistle on Instagram. Investor Relations Ian McMillan Media Relations Steve Beisswanger [email protected]
Yahoo
5 days ago
- Business
- Yahoo
Carlsmed targets IPO to continue medtech public listing boom
AI-focused spinal surgery firm Carlsmed is planning to go public, adding to a strong year of medtech initial public offerings (IPOs). Carlsmed filed a registration statement on Form S-1 with the US Securities and Exchange Commission (SEC) on 26 July, indicating its intention to go public. The form neither detailed how many shares the device maker is looking to sell nor the price range at which they will be sold, meaning it is not possible to calculate how much the IPO will raise. The Form S-1, used by companies when notifying the SEC of their intent to carry out public offerings, only mentioned that the listing would have occurred on the Nasdaq. Carlsmed has developed a personalised surgery platform called aprevo, which it claims enhances surgical outcomes, lowers the need for revision surgery, and improves long-term outcomes. The company's portfolio comprises implantable lumbar and cervical patient-specific interbody fusion devices and accompanying software. The company already has clearance from the US Food and Drug Administration (FDA) for its lumbar and cervical devices. Whilst its lumbar spine fusion surgery products are commercialised in the US, it expects to market the cervical devices next year. In its S-1 form, Carlsmed said it will pursue additional clearances for its platform throughout 2025. The California-based company estimates an addressable market of approximately $13.4bn for its aprevo platform in the US. Carlsmed's books have had strong growth – the company reported revenue of $27.2m in 2024, up 97.2% from 2023. The IPO will look to add cash resources for the spinal specialist, which already raised $52.5m in Series C financing in March 2024. Carlsmed is the latest medtech company in 2025 to target an IPO. Although it is notable for its AI-driven spinal surgery devices, the company is part of a broader trend of AI-focused medtechs going public. Artificial pancreas maker Beta Bionics raised $204m in a Nasdaq listing in January while wearable defibrillator maker Kestra closed an IPO worth $202m before deductions. The public listings reflect a stronger IPO landscape for medtech companies that have previously suffered in recent times. The first half of 2025 consolidates investor predictions made in December last year, who were optimistic about recovery. "Carlsmed targets IPO to continue medtech public listing boom" was originally created and published by Medical Device Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
