Investigation Into the Proposed Acquisition of Terran Orbital by Lockheed Martin

Aug 15, 2024 | Investigations

Investors of Terran Orbital Stock Encouraged to Contact Kehoe Law Firm, P.C.

Kehoe Law Firm, P.C. is investigating whether the sale of Terran Orbital, Inc. (“Terran Orbital”) (NYSE: LLAP) is fair to Terran Orbital shareholders and whether the Board of Directors of Terran Orbital breached its fiduciary duties in connection with the proposed acquisition of Terran Orbital by Lockheed Martin (NYSE: LMT).  

TERRAN ORBITAL INVESTORS CAN CLICK HERE OR EMAIL [email protected] TO CONTACT KEHOE LAW FIRM, P.C. TO DISCUSS THE INVESTIGATION AND POTENTIAL LEGAL CLAIMS.

The investigation concerns whether the Board of Directors of Terran Orbital breached its fiduciary duties by failing to conduct a fair process regarding the proposed acquisition of Terran Orbital by Lockheed Martin in a deal with an enterprise value of approximately $450 million.

Under the terms of the agreement, Lockheed Martin will acquire all outstanding shares of Terran Orbital for $0.25 in cash for each outstanding share of common stock and retire its existing debt.

The transaction is expected to close in the fourth quarter of 2024.

TERRAN ORBITAL SHAREHOLDERS CAN ALSO CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], TO LEARN MORE ABOUT THE BREACH OF FIDUCIARY DUTIES INVESTIGATION AND POTENTIAL LEGAL CLAIMS.

Predatory Solar Lending Advisory

Aug 7, 2024 | New Blog

CFPB Finds Lenders Cramming Markup Fees and Confusing Terms into Solar Energy Loans

On August 7, 2024, the Consumer Financial Protection Bureau (“CFPB”) published an issue spotlight finding that some residential solar lenders are misleading homeowners about the terms and costs of their loans, misrepresenting the energy savings they will deliver, and cramming markup fees into borrowers’ loan balances. The report describes how fees often increase loan costs by 30% or more above the cash price, and that lenders often misrepresent the impact of the federal tax credit for solar installations. These loans are generally facilitated by lenders in partnership with solar installers and door-to-door sales companies.

Fifty-eight percent of solar projects were paid through loans in 2023, and the number of lenders is increasing accordingly. These lenders often partner with solar installers and employ a variety of marketing and door-to-door sales tactics to convince homeowners to enter into financing agreements.

The CFPB found that the rapid rise of nonbank lenders partnered with solar salespeople into the solar market is also raising the potential for illegal behavior and consumer harm. In contrast to auto loans or mortgages where consumers know they want a car or house and then seek out financing options, door-to-door salespeople are going directly to homeowners in attempts to convince them both to purchase a solar energy system and to do so via a loan through their company. Within this sales and lending scheme, many homeowners are discovering they are being duped and misled into contracts with inflated principals, ballooning monthly payments, and electricity savings lower than promised.

The CFPB has identified four areas of significant risks:

  • Hidden markup fees: Lenders build hidden fees into their loans by marking up the principals of the loans. These “dealer fees” often increase the loan cost by 30% or more above the cash price of a solar project. Lenders frequently bake these fees into a loan’s principal without including them in the stated annual percentage rate (APR). Lenders also rarely and clearly separate these markups from the total cash price that consumers would otherwise pay for a system’s installation.
  • Misleading claims about what consumers will pay: While receiving a tax credit is not guaranteed and based on a number of factors, many solar loan sales pitches promote the 30% federal “Investment Tax Credit” for residential solar installations. In fact, lenders will present loan principals as a “net cost” that assume the tax credit will be received. Consumers may end up believing either the tax credit will subtract from the “net cost” or that the “net cost” is what will be paid regardless of whether they end up qualifying for and receiving the tax credit.
  • Ballooning monthly payments: Loan terms may require a substantial prepayment by a certain date that is equal to the expected tax credit. If a homeowner does not qualify for the tax credit, they will end up on the hook for the prepayment or face substantially higher monthly payments.
  • Exaggerated savings claims: Homeowners report being told that solar panels will cover financing costs as well as eliminate future energy bills. While this promise may be true for some homeowners, the financial benefits of solar projects are uncertain and can vary significantly by geographic location and season.

In conjunction with the report, the CFPB released a consumer advisory warning homeowners of the risky practices in the solar lending market and sharing advice for borrowers who encounter illegal activity.

Source: Consumer Financial Protection Bureau

CrowdStrike Investors May Have Legal Claims – Breach of Fiduciary Duties Investigation – CRWD

Jul 23, 2024 | Investigations

CrowdStrike Stock Investors Encouraged to Contact Kehoe Law Firm, P.C.

Kehoe Law Firm, P.C. is investigating whether CrowdStrike Holdings, Inc. (“CrowdStrike”) (NASDAQ: CRWD) issued false and misleading statements or breached its fiduciary duties to shareholders.

INVESTORS OF CROWDSTRIKE STOCK CAN CLICK HERE OR EMAIL [email protected] TO CONTACT KEHOE LAW FIRM, P.C. TO DISCUSS THE INVESTIGATION AND POTENTIAL LEGAL CLAIMS.

On Friday, July 19, 2024, CrowdStrike’s stock dropped significantly on the news of a faulty software update by CrowdStrike which caused major disruptions across multiple industries.

The Motley Fool has reported that “[t]he CrowdStrike-related outage stemmed from a bug in a software update the company pushed out. The crash impacted millions of Microsoft Windows devices worldwide, causing Windows-based computers and tablets to crash. The outage impacted numerous industries from governments, to banks, to airlines, which had to cancel flights.”

CROWDSTRIKE SHAREHOLDERS CAN ALSO CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], TO LEARN MORE ABOUT THE BREACH OF FIDUCIARY DUTIES INVESTIGATION AND POTENTIAL LEGAL CLAIMS.

Securities Investigation on Behalf of Investors of Helios Technolgies – HLIO

Jul 8, 2024 | Investigations

Helios Technologies Stock – CEO Placed on Leave – Investors of Helios Technologies With Financial Losses Encouraged to Contact Kehoe Law Firm, P.C. 

Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of investors of Helios Technologies, Inc. (“Helios Technologies”) (NYSE: HLIO).

INVESTORS OF HELIOS TECHNOLOGIES STOCK WITH FINANCIAL LOSSES ARE CAN CLICK HERE OR EMAIL [email protected] TO CONTACT KEHOE LAW FIRM, P.C. TO DISCUSS THE SECURITIES INVESTIGATION AND POTENTIAL LEGAL CLAIMS.

On July 8, 2024, Helios Technologies reported that “Mr. Josef Matosevic, the Company’s President, Chief Executive Officer and Director, [was placed] on a paid leave effective July 1, 2024, immediately as a result of allegations of a potential violation of the Company’s Code of Business Conduct and Ethics. Mr. Matosevic’s leave is pending completion of an ongoing investigation being conducted by the Board with the assistance of outside legal counsel.”

On this news, the price of Helios stock traded down more than 6% after the market closed on July 8, 2024.

SHAREHOLDERS OF HELIOS TECHNOLOGIES WHO HAVE SUFFERED FINANCIAL LOSSES CAN ALSO CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], TO LEARN MORE ABOUT THE SECURITIES INVESTIGATION AND POTENTIAL LEGAL CLAIMS.

Tyson Foods Investors May Have Legal Claims – TSN

Jul 2, 2024 | Investigations

Investors of Tyson Foods Encouraged to Contact Kehoe Law Firm, P.C.

Kehoe Law Firm, P.C. is investigating whether certain directors and officers of Tyson Foods, Inc. (“Tyson” or “Tyson Foods”) (NYSE: TSN) breached their fiduciary duties to Tyson Foods and its shareholders and whether Tyson and its shareholders suffered damages as a result.

INVESTORS OF TYSON FOODS STOCK ARE ENCOURAGED TO CLICK HERE OR EMAIL [email protected] TO CONTACT KEHOE LAW FIRM, P.C. TO DISCUSS THE INVESTIGATION AND POTENTIAL LEGAL CLAIMS.

 In June 2024, The Wall Street Journal reported that John R. Tyson, Chief Financial Officer (“CFO”) of Tyson Foods, had been suspended following John Tyson’s arrest on charges of driving while intoxicated.

The Wall Street Journal also reported that “[i]n November 2022 Tyson was arrested for criminal trespass and public intoxication after the residents of a house in Fayetteville, Ark., a few blocks from the University of Arkansas, found him asleep inside the home. He pleaded guilty in January of last year and paid a fine of $440 with fees, according to city officials.”

INVESTORS OF TYSON FOODS ARE ALSO ENCOURAGED TO CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], TO LEARN MORE ABOUT THE BREACH OF FIDUCIARY DUTIES INVESTIGATION AND POTENTIAL LEGAL CLAIMS.