On March 23, 2020, a lawsuit was filed against Exela Technologies, Inc. over alleged violations of Federal Securities Laws. Exela Smart Office is a suite of interconnected workplace technologies and services. Michael Daniels Your documents will be securely held in AWS S3 and will only be used as proof of your transactions in connection with this matter. The plaintiff claims that 05-16-2022 | Business, Economy, Finances . Exelaanticipates that subsequent events and developments will causeExela'sassessments to change. The fundamental outlook for the IT . Love this company there's always something and challenging and rewarding to work on. 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. 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. 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. The case is Shen v. Exela Techs. Exelawhich merged with Novitex Holdings Inc. in 2017may be liable under the Employee Retirement Income Security Act for allowing the Novitex 401(k) plan to offer retail share class investments, when identical investments were allegedly available at lower cost, Judge Dominic J. Squatrito ruled. Join the Exela Technologies team See Our Latest Jobs 5.0 Current Employee, more than 3 years Best place I have ever worked! Fax: +1-(858)-605-5739 . Exela Technologies, Inc. Shares have lost about 98.4% since the beginning of the year versus the S&P 500's decline of -16.2%. San Diego, CA -- (SBWIRE) -- 08/26/2022 -- The Shareholders Foundation announced an update in the lawsuit that is pending for certain investors in Exela Technologies, Inc. (NASDAQ: XELA). Want the latest recommendations from Zacks Investment Research? Freshfields Bruckhaus Deringer LLP > The Legal 500 Rankings Dispute resolution > International arbitration Tier 1 Freshfields Bruckhaus Deringer LLP's international arbitration group strikes the right note with its 'experienced, responsive and dedicated lawyers', who are capable of 'distilling very complex matters with international and national implications SEC Charges IT Company and Its Former CFO for SPAC-Linked Reporting Failure. It is not intended as legal advice and should not be relied upon. For information regarding the content of this press release please contact the media relations contact listed above directly. Industry Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. They also have the best educational program. 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. We connect clashing systems, upgrade inefficient processes, and provide the customized insights you need to elevate your organization. According to anonymously submitted Glassdoor reviews, Exela Technologies employees rate their compensation and benefits as 2.8 out of 5. Year-over-year quarterly sales growth most recently was -5.4%. Brian Schall, Esq., Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. 3:20-cv-00691, motion to dismiss denied 1/21/22. Show your support with exclusive co-branded gear now available in the Exela Shop. They are modern with the best product and services. Posted Friday, August 26, 2022 at 11:15 AM CDT - Permalink. Exela is a business process automation (BPA) leader, leveraging a global footprint and proprietary technology to provide digital transformation solutions enhancing quality, productivity, and end-user experience. 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. SEC Charges IT Company and Its Former CFO for SPAC-Linked Reporting Failure. Find out how business process automation tools can enhance your employee and visitor experience, optimize space and energy usage, and streamline daily processes. Shareholder Connect | Exela Technologies. Traders who pay close attention to intraday price movement should know that it fluctuated between $0.0854 and $0.0945. According to reviews on Glassdoor, employees commonly mention the pros of working at Exela Technologies to be workplace, coworkers and the cons to be career development, benefits, management. The plaintiff claims that between March 16, 2018 and March 16, 2020, the defendants made false and/or misleading statements and/or failed to disclose that Exela's previously issued financial statements for the twelve months ended December, 31, 2017 and December 31, 2018, and the quarterly statements for the three and nine months ended September 30, 2019 contained numerous accounting errors, could not be relied upon, and required restatement, and that as a result, defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. 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. It operates through the following segments: Information and Transaction Processing Solutions, Healthcare Solutions, and Legal & Loss Prevention Services. The Information and Transaction Processing Solutions segment . Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. Exelas business process automation (BPA) software, intelligent workplace systems, and technology experts come together to produce transformational results. Exela Technologies Inc does not currently pay a dividend. Click Manage settings for more information and to manage your choices. Find out more about how we use your information in our privacy policy and cookie policy. Law firm pricing professionals in 2023: Examining compensation & team structures, How to improve handling of law firm rate increase requests through data: A view from in-house counsel, 2022 saw law firms move past the pandemic into a more client-focused service environment, Law firms ESG practice continues to drive economic growth and better alignment with clients, See here for a complete list of exchanges and delays, Suit follows May ruling allowing investors to sue Exela, subsidiaries for payment, Investors say they're owed more than $62 million for appraisal judgment. Join the case to recover your losses. Exela Technologies are global leaders in digital transformation and business optimization, Exela delivers technology and data-driven innovation for bu. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Remote / Flexible location 401k Health Benefits. Caryn Chandler Net Worth, Job, Career. Find out how business process automation tools can enhance your employee and visitor experience, optimize space and energy usage, and streamline daily processes. Find a Great First Job to Jumpstart Your Career, Getting a Job Is Tough; This Guide Makes it Easier, Climb the Ladder With These Proven Promotion Tips, A Guide to Negotiating the Salary You Deserve. According to the order, Reynolds caused Exela's failure to identify and disclose two of those transactions in one 2019 quarterly filing. The latest investor complaint satisfactorily pleads that Exela made made materially false and misleading statements about what percentage of its revenue was predictable, Fitzwaters Jan. 21 opinion said. 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. Were still collecting data to inform categories such as Age, Disability, Sexual Orientation, and Veteran Status. Solve this simple math problem and enter the result. Working in office. Analysts expect adjusted earnings to reach $-3.415 per share for the current fiscal year. 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). Information about your device and internet connection, like your IP address, Browsing and search activity while using Yahoo websites and apps. 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. You can change your choices at any time by visiting your privacy controls. 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. In terms of the Zacks Industry Rank, Technology Services is currently in the top 50% of the 250 plus Zacks industries. 5. The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If fractional shares, please round to the nearest whole number. December 23, 2022. Through cloud-enabled platforms, built on a configurable stack of automation modules, and over 19,000 employees operating in 23 countries,Exelarapidly deploys integrated technology and operations as an end-to-end digital journey partner. June 25, 2021 13:00 ET Thank you for your positive comments. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics. Read More. We work hard to meet expectations like yours. Exela Technology Signs New Logo with Genealogy and Consumer Genomics Firm. Pros & Cons are excerpts from user reviews. Shareholders Foundation, Inc. Shareholders Foundation, Inc.1-858-779-1554, Email | Web Don't Forget about Non-Digital Marketing! Stay up to date on the latest stock price, chart, news, analysis, fundamentals, trading and investment tools. IRVING, Texas, Nov. 22, 2021 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. ("Exela" or "the Company") (NASDAQ: XELA), a global business process. SPEAK WITH AN ATTORNEY : 310-301-3335| Email: info@schallfirm.com. Investors allege the business process automation company misled them about how much of its revenue was predictable. ), Del. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. Exela Technologies, Inc. (XELA) came out with a quarterly loss of $1.01 per share versus the Zacks Consensus Estimate of a loss of $0.46. ADMINISTRATIVE PROCEEDING File No. Exela Technologies has an overall rating of 3.1 out of 5, based on over 1,004 reviews left anonymously by employees. Powerful HR solutions to accelerate performance and business growth. 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. 1 Twitter 2 Facebook 3RSS 4YouTube We work hard to make our culture consistent with our values. We are glad that you enjoyed being a part of our team. What our customers are saying. Press J to jump to the feed. Exela Technologies Inc. (XELA) full year performance was -99.53%. Thank you for sharing. She was positioned first as a manager and then as Matt's personal assistant. Click This action is necessary to prevent Defendants from fraudulently transferring away liquid funds that would be used to pay the judgment before the Court once again orders Defendants to pay the judgment, the investors said in Tuesdays complaint. One of the investors' attorneys, Steven Davidson of Steptoe & Johnson, said on Wednesday, "We will use all lawful means to collect on our judgment against Excela and to collect on those who are receiving payments, which we believe are fraudulent transfers.". The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. He wasnt a micromanager and valued my recruiting experience. Investors sued Exela in July over unpaid appraisal judgment May 26 (Reuters) - A group of investors can proceed with a suit over a $2.8 billion merger that created business management. Exela Technologies, Inc. is an American business process automation ("BPA") company. Read More. 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. The Schall Law Firm Get the latest insights of business process automation for your industry with our quarterly publication PluggedIN: 2023 Exela Technologies, Inc. All rights reserved. This rating has improved by 12% over the last 12 months. 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? Exela Technologies Signs Strategic Partnership with Quintes Global. 310-301-3335. 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. Learn more about a Bloomberg Law Subscription. In examining the 52-week price action we see that the stock hit a 52-week . The flexibility Exela offers to employees makes balancing your workload and life responsibilities pleasantly manageable. Plaintiffs have the option to file an amended complaint correcting the deficiencies set forth in the Courts June 24 dismissal order by August 5. The choice was made after the firm decided that "continued. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Show your support with some co-branded gear! The Novitex Business Combination was accounted for as a reverse merger for which SourceHOV was determined to be the accounting acquirer. It was created with the merger of SourceHOV LCC, Novitex Holdings, Inc. and Quinpario Acquisition Corp. 2.. Overview. Ahead of this earnings release, the estimate revisions trend for Exela Technologies, Inc. Mixed. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. Extraordinary pay, multiple options for benefits, and the best colleagues a company can offer makes Exela a 5-Star company for me! Counsel information for Exela was not immediately known. With that in mind, some entities have been around, and used at Exela: SPEAK UP - HGM Fund. Michael Daniels Vice Chancellor Joseph Slights III of the Delaware Chancery Court determined in January 2020 that the investors were owed $57 million plus interest as part of the three-way merger that created Irving, Texas-based Exela in July 2017. Exela Technologies is a provider of transaction processing solutions, enterprise information management, document management and digital business process services. Exela Technologiesis a business process automation (BPA) leader, leveraging a global footprint and proprietary technology to provide digital transformation solutions enhancing quality, productivity, and end-user experience. 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. 50% of employees would recommend working at, According to anonymously submitted Glassdoor reviews, Exela Technologies employees rate their compensation and benefits as 2.8 out of 5. The Organization's Mission To help put our clients' companies and organizations at the top of their class with a full range of transaction processing solutions, expert consulting services, and administrative support. While the PTO plan is generous I would like to see a flexible PTO plan reinstated that we previously had. This kind of feedback motivates the entire team to continue exceeding expectations. 5. Mandatory overtime for 10 weeks straight on graveyard shift was horrendous on the body and mind. 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 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. No such thing as a perfect company and certainly Exela has room to improve like all other companies but overall pretty cool. Solutions, Healthcare Solutions, enterprise information management, document management and digital business process services Latest Jobs Current... 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