Nov 17, 2022 | Blog, Shareholder Investigations
Provident Bancorp Stock: PVBC Shareholders Are Encouraged To Contact Kehoe Law Firm, P.C. To Discuss Potential Legal Claims
Kehoe Law Firm, P.C. is investigating whether Provident Bancorp (NASDAQ: PVBC) and/or its officers and directors violated securities laws and/or breached their fiduciary duties to Provident Bancorp and its shareholders.
INVESTORS OF PROVIDENT BANCORP STOCK ARE ENCOURAGED TO CLICK HERE TO CONTACT KEHOE LAW FIRM, P.C. AND PROVIDE DETAILS ABOUT THEIR PVBC STOCK HOLDINGS.
IF YOU ARE AN INVESTOR OF PROVIDENT BANCORP, YOU ARE ENCOURAGED TO CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], TO DISCUSS THE INVESTIGATION AND POTENTIAL LEGAL CLAIMS WITHOUT COST OR OBLIGATION.
Nov 14, 2022 | Antitrust, Blog, Overtime & Wages
Employees of one or more of the following companies, their subsidiaries and/or related entities in the continental United States anytime between January 1, 2014 and the present are encouraged to contact Kehoe Law Firm, P.C., John Kehoe, Esq., (215) 792-6676, Ext. 801, [email protected], [email protected], for a free evaluation of potential legal claims:
JBS USA Food Company; Tyson Foods, Inc.; Cargill, Inc.; Cargill Meat Solutions Corp.; Hormel Foods Corp.; American Foods Group, LLC; Triumph Foods, LLC; Seaboard Foods, LLC; National Beef Packing Co., LLC; Iowa Premium LLC; Smithfield Foods Inc.; Smithfield Packaged Meats Corp.; Agri Beef Co.; Washington Beef, LLC; Perdue Farms, Inc.; Agri Stats, Inc.; Webber, Meng, Sahl & Company, Inc. d/b/a WMS & Company, Inc. (collectively, “Defendants” or “Defendant Processors”).
According to a class-action complaint filed on November 11, 2022 in United States District Court for the District of Colorado, since at least 2014, the Defendants have conspired and combined to fix and depress the compensation paid to employees at red meat processing plants in violation of Section 1 of the Sherman Antitrust Act, 15 U.S.C. § 1.
The class-action complaint alleges that the Defendant Processors have compensated Class Members with hourly wages or annual salaries and employment benefits. Each Defendant Processor, according to the complaint, has established a schedule for hourly wage rates, annual salaries, and employment benefits based on the specific position and years of experience of the Class Members. Further, senior executives of each Defendant Processor established and approved those hourly wage rates, annual salaries, and employment benefits at corporate headquarters during the Class Period. Allegedly, this highly-regimented process for determining compensation allowed Defendant Processors to compare compensation practices – and collectively suppress compensation – across their workforces.
The Defendant Processors, allegedly, implemented, monitored, and enforced their conspiracy to fix and depress compensation paid to Class Members through a series of overt acts, including, for example, “secret compensation surveys, “secret annual meetings,” and “direct communications among executives,” whereby Defendant Processors’ senior executives extensively discussed, compared, and, in turn, further suppressed compensation through email and phone communications. Those conspiratorial communications, according to the complaint, included both group emails to senior executives for purposes of aligning Defendant Processors’ compensation practices and bilateral communications meant to adopt time-sensitive plans for future compensation.
Moreover, in furtherance of their conspiracy to depress Class Members’ wages, the Defendant Processors also, allegedly, entered into illegal “no poach” agreements with each other to refrain from recruiting one another’s employees.
The Defendant Processors, according to the complaint, also engaged in the conspiracy to increase their profits by reducing labor costs, which comprise a substantial share of each Defendant Processor’s total operating costs. The intended and actual effect of Defendants’ conspiracy to fix compensation, allegedly, has been to reduce and suppress the wages, salaries, and benefits paid to Class Members since January 2014 to levels materially lower than they would have been in a competitive market.
IF YOU WERE EMPLOYED BY ONE OF THE AFOREMENTIONED COMPANIES, THEIR SUBSIDIARIES AND/OR RELATED ENTITIES ANYTIME BETWEEN JANUARY 1, 2014 TO THE PRESENT, YOU MAY HAVE LEGAL CLAIMS AND ARE ENCOURAGED TO CONTACT KEHOE LAW FIRM, P.C. FOR A FREE EVALUATION OF POTENTIAL LEGAL CLAIMS.
Nov 14, 2022 | Blog, Shareholder Investigations
Kehoe Law Firm, P.C. is investigating whether Bird Global, Inc. (“Bird Global” or the “Company”) (NYSE: BRDS) and/or its officers and directors violated federal securities laws.
On November 11, 2022, Bird Global reported that ” . . . (i) the Company’s audited consolidated financial statements as of December 31, 2021 and 2020, and for the years then ended, and quarterly periods within those years, included in the Annual Report on Form 10-K filed with the Securities and Exchange Commission . . . on March 15, 2022, (ii) its condensed consolidated financial statements as of March 31, 2022, and for the three months then ended, included in the Quarterly Report on Form 10-Q filed with the SEC on May 16, 2022 and (iii) its condensed consolidated financial statements as of June 30, 2022, and for the three and six months then ended, included in the Quarterly Report on Form 10-Q filed with the SEC on August 15, 2022 . . . should no longer be relied upon. Similarly, any previously furnished or filed reports, related earnings releases, investor presentations or similar communications of the Company describing the Company’s financial results contained in the Original Filings should no longer be relied upon.”
Bird Global also reported that “[t]he determination results from an error identified in connection with the preparation of the Company’s condensed consolidated financial statements as of September 30, 2022, and the three and nine months then ended, related to its business system configuration that impacted the recognition of revenue on certain trips completed by customers of its Sharing business (‘Rides’) for which collectability was not probable.”
On this news, shares of Bird Global stock were down more than 16% during intraday trading on November 14, 2022.
BIRD GLOBAL INVESTORS WITH FINANCIAL LOSSES GREATER THAN $25,000 ARE ALSO ENCOURAGED TO CLICK HERE TO CONTACT KEHOE LAW FIRM, P.C.
Nov 13, 2022 | Blog, Shareholder Investigations
Kehoe Law Firm, P.C. is investigating whether FTX Trading Ltd (“FTX”) (Native Token: “FTT”) or certain of its executives, including, but not limited to, Sam Bankman-Fried, violated federal securities laws.
Purchasers of FTX securities, such as FTT tokens or FTX’s high-yield bearing accounts, who have suffered financial losses are encouraged to contact John Kehoe, Esq., (215) 792-6676, Ext. 801, [email protected], [email protected], to discuss the securities investigation or potential legal claims.
FTX operates a cryptocurrency exchange that allows investors to trade cryptocurrencies, purchase FTX’s native token FTT, and deposit other cryptocurrencies in high-yield bearing accounts in exchange for a fixed amount of interest.
On October 14, 2022, the Texas State Securities Board and the Texas Department of Banking objected to an asset purchase agreement submitted in the bankruptcy proceeding, and in a supporting declaration, the Texas regulators revealed that it was investigating FTX’s interest accounts and the sale of unregistered securities.
On November 2, 2022, Coindesk published an article that disclosed purported concerns relating to Alameda Research and FTX’s close relationship, in addition to Alameda Research’s large FTT holdings.
On November 6, 2022, Binance’s Chief Executive Officer, Changpeng Zhao, announced on Twitter that Binance would, “[d]ue to recent revelations that have come to light, . . . liquidate any remaining FTT on [its] books.”
On November 8, 2022, The Wall Street Journal published an article, “Binance’s Deal for Rival FTX Marks Power Shift Amid Crypto Turmoil,” discussing Binance’s non-binding agreement to purchase FTX amid FTX’s “sudden liquidity crunch.”
On November 9, 2022, The Wall Street Journal published an article, “Binance Walks Away From Deal to Rescue FTX,” which disclosed that the purchasing agreement between Binance and FTX would not be finalized.
On November 11, 2022, FTX filed for bankruptcy.
For additional information, please click “At least $1 billion of client funds missing at failed crypto firm FTX, sources say”; “Funds vanish at bankrupt crypto exchange FTX; probe underway.”
FTX investors who purchased FTT tokens and/or opened up an earn rewards account on FTX and have suffered financial losses are also encouraged to CLICK HERE to contact Kehoe Law Firm, P.C.
Nov 10, 2022 | Blog, Shareholder Investigations
Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of investors of Unisys Corp. (“Unisys” or the “Company”) (NYSE: UIS).
INVESTORS OF UNISYS STOCK ARE ENCOURAGED TO CLICK HERE TO CONTACT KEHOE LAW FIRM, P.C. AND PROVIDE DETAILS OF THEIR UNISYS SECURITIES HOLDINGS.
On November 8, 2022, Unisys stock dropped significantly after Unisys announced financial results for the third quarter of 2022, in addition to disclosing an “. . . internal investigation regarding certain disclosure controls and procedures matters, including, but not limited to, the dissemination and communication of information within certain parts of the organization.”
Additionally, Unisys reported that it “. . . expects that it may determine that there are one or more material weaknesses in its internal control over financial reporting, which may result in a conclusion that the Company’s disclosure controls and procedures and internal control over financial reporting are not effective.”
Shares of Unisys stock dropped more than 48% in intraday trading on November 8, 2022.
UNISYS INVESTORS CAN ALSO CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], TO DISCUSS THE SECURITIES INVESTIGATION AND FOR A NO-OBLIGATION EVALUATION OF POTENTIAL LEGAL CLAIMS.
Nov 3, 2022 | Blog, Shareholder Investigations
Kehoe Law Firm, P.C. is investigating whether certain directors and officers of BTRS Holdings Inc. (“Billtrust”) (NASDAQ: BTRS) breached their fiduciary duties to Billtrust’s shareholders in approving a merger with affiliate funds of EQT X and EQT AT (“EQT”) (OTC: EQBBF) for inadequate consideration.
The investigation concerns whether Billtrust’s board of directors failed to maximize the value of Billtrust for the benefit of Billtrust’s shareholders in connection with its announced merger with EQT, in breach of their fiduciary duties to Billtrust’s shareholders, and whether Billtrust’s shareholders suffered damages as a result.
On September 28, 2022, Billtrust announced it had reached an agreement to be bought out by EQT for $9.50 per share. The transaction is valued at approximately $1.7 billion.
INVESTORS OF BILLTRUST STOCK ARE ENCOURAGED TO CLICK HERE TO CONTACT KEHOE LAW FIRM, P.C.
IF YOU ARE A BILLTRUST SHAREHOLDER, YOU MAY HAVE LEGAL CLAIMS AGAINST BILLTRUST’S DIRECTORS AND OFFICERS. IF YOU WISH TO DISCUSS THIS INVESTIGATION, OR HAVE QUESTIONS ABOUT YOUR LEGAL RIGHTS, PLEASE CONTACT JOHN KEHOE, ESQ., (215) 792-6676, EXT. 801, [email protected], [email protected].
