Their prior complaint lacked specific facts showing that the company knew the revenue predictability statistic was wrong at the time it claimed 90% visibility, but Judge Sidney A. Fitzwater allowed them to file an amended version. Show your support with exclusive co-branded gear now available in the Exela Shop. - toxic work environment - poor management. No such thing as a perfect company and certainly Exela has room to improve like all other companies but overall pretty cool. The company culture has a start up feel to it. A high-level overview of Exela Technologies, Inc. (XELA) stock. The fundamental outlook for the IT . ADMINISTRATIVE PROCEEDING File No. 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. The SEC also announced settled charges against Exela's former Chief Financial Officer, James G. Reynolds, with causing Exela's reporting violations in one quarter relating to two related party transactions. EXELA TECHNOLOGIES, INC. CLASS ACTION ALERT: Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the United States District Court for. No org chart, not sure who's in charge and who's making decisions. With rapidly deployable enterprise software and a team of experienced specialists behind you, you can do business better. Glancy Prongay & Murray LLP represents the investors as lead counsel. The case is Manichaean Capital LLC v. Exela Intermediate LLC, Delaware Court of Chancery, No. Pros & Cons are excerpts from user reviews. Today, you can download 7 Best Stocks for the Next 30 Days. 3111 Camino Del Rio North - Suite 423 About The Shareholders Foundation These forward-looking statements should not be relied upon as representingExela'sassessments as of any date subsequent to the date of this press release. Exela Technologies (NASDAQ: XELA) made headlines on April 11 when it decided to cancel scheduled voting on a reverse stock split. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Good time off benefits, ability to transfer to multiple locations, You have to beg for raise , hard to find opportunities to move up in company. I have worked for the company for several years and received multiple promotions. 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. Verify your email to use filters. Contact: It was created with the merger of SourceHOV LCC, Novitex Holdings, Inc. and Quinpario Acquisition Corp. 2.. Overview. Exela Technologies Inc. must face accusations it made misleading statements about revenue predictability after a federal judge in Texas found investors' new allegations as to mental state sufficient to move forward. The investors' complaint filed on Tuesday stems from a related suit set to go to trial in October 2022, in which Slights allowed the group of investors to go after Exela and its subsidiaries for the appraisal judgment. Revolutionizing Human Resource Management. Vincent KondaveetiE:vincent.kondaveeti@exelatech.comT: 929-620-1849, Mary Beth BenjaminE:IR@exelatech.comT: 646-277-1216. By clicking Accept all you agree that Yahoo and our partners will process your personal information, and use technologies such as cookies, to display personalised ads and content, for ad and content measurement, audience insights, and product development. Announced, Copyright 2005 - 2023 - SBWire, a service of ReleaseWire LLC. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics. Glassdoor has 1,004 Exela Technologies reviews submitted anonymously by Exela Technologies employees. Forward-looking statements generally are accompanied by words such as "may", "should", "would", "plan", "intend", "anticipate", "believe", "estimate", "predict", "potential", "seem", "seek", "continue", "future", "will", "expect", "outlook" or other similar words, phrases or expressions. Join the case to recover your losses. Read More. These statements are subject to a number of risks and uncertainties, including without limitation those discussed under the heading "Risk Factors" inExela'sAnnual Report and other securities filings. On March 23, 2020, a lawsuit was filed against Exela Technologies, Inc. over alleged violations of Federal Securities Laws. 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. Click to get this free reportExela Technologies, Inc. (XELA) : Free Stock Analysis ReportWaterdrop Inc. Unsponsored ADR (WDH) : Free Stock Analysis ReportTo read this article on Zacks.com click here. Click The choice was made after the firm decided that "continued. What our customers are saying. Learn more about a Bloomberg Law Subscription. It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. SPEAK WITH AN ATTORNEY : 310-301-3335| Email: info@schallfirm.com. They have hired the best of the best and everyday I enjoy working at Exela. The case is Shen v. Exela Techs. 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. Exela is way ahead of its time in industry. On December 19, 2022, the SEC announced a settled enforcement action against Exela Technologies, Inc, for accounting, financial reporting and controls deficiencies, including its failure to . See here for a complete list of exchanges and delays. Shareholder Connect | Exela Technologies. Brian Schall, Esq., Michael Daniels Love this company there's always something and challenging and rewarding to work on. Exela Technologies, Inc. IRVING, Texas, June 25, 2021 (GLOBE NEWSWIRE) -- Exela Technologies, Inc.(Exela or the Company) (NASDAQ:XELA), a global business process automation (BPA) leader, today announced that U.S. District Judge Sydney A. Fitzwater has granted Exelasmotion to dismiss in its entirety the Texas federal securities class action suit filed March 2020. Read employee reviews and ratings on Glassdoor to decide if Exela Technologies is right for you. 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. Exela is a leader in work flow automation, attended and un-attended cognitive automation, digital mail rooms, print communications, and payment processing with deployments across the globe. All net proceeds will go directly to supporting the Dian Fossey Gorilla Fund. Michael Daniels To contact the reporter on this story: Jennifer Bennett in Washington at jbennett@bloomberglaw.com, To contact the editors responsible for this story: Rob Tricchinelli at rtricchinelli@bloomberglaw.com; Steven Patrick at spatrick@bloomberglaw.com. 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. file size: 32 MB, Max. You're not working in a box and have flexibility to make strategic decisions. The plaintiff claims that 05-16-2022 | Business, Economy, Finances . 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%. On March 23, 2020, a lawsuit was filed against Exela Technologies, Inc. over alleged violations of Federal Securities Laws. read more HQ - Irving, Texas, United States IT Services & Consulting 1k-5k Employees (India) Internet Write a Review Compare About Reviews 504 Salaries 5k Interviews 29 Jobs 21 Benefits 262 Photos Show your support with some co-branded gear! Press J to jump to the feed. The Shareholders Foundation, Inc. is not a law firm. IRVING, Texas, June 25, 2021 (GLOBE NEWSWIRE) Exela Technologies, Inc. ("Exela" or "the Company") (NASDAQ: XELA), a global business process automation (BPA) leader, today announced that. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. read more HQ - Irving, Texas, United States IT Services & Consulting 1k-5k Employees (India) Internet Write a Review Compare About Reviews 504 In examining the 52-week price action we see that the stock hit a 52-week . 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. Purchase Lawsuit Report. Based in Irving, TX, Exela Technologies is an industry leader with 22,000 employees and an annual revenue of $1.3B. According to the Complaint, the Company made false and misleading statements to the market. EXELA TECHNOLOGIES, INC. : All Information and News | XELA | US30162V7064 | MarketScreener Homepage Equities United States Nasdaq Exela Technologies, Inc. News All News XELA US30162V7064 EXELA TECHNOLOGIES, INC. (XELA) Add to my list Report Summary Quotes Charts News Ratings Calendar Company Financials Consensus Revisions Funds Summary 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. You can also reach us through the firms website atwww.schallfirm.com, or by email atbrian@schallfirm.com. Register Learn more Events Webcasts . This quarterly report represents an earnings surprise of -119.57%. If you are a shareholder who suffered a loss, click here to participate. STAY CONNECTED Were a little short on data, but you can help. 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 by 5.94%. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. Native Hawaiian or Other Pacific Islander, - Newcastle upon Tyne, United Kingdom Area, Opens the Fishbowl by Glassdoor site in a new window, Coming soon! Read More. The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. Counsel information for Exela was not immediately known. Accepted file types: xls, xlsx, doc, pdf, jpg, jpeg, Max. They are modern with the best product and services. This lawsuit is for anyone who acquired securities in Exela Technologies, Inc. (NASDAQ: XELA) from March 16, 2018 through March 16, 2020. 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. "Join this Class Action" above. While Exela had disclosed the shareholders' claim in its SEC filings while the suit was pending, Exela erroneously failed to accrue for any payment it would have to make to those dissenting shareholders. Thanks for taking the time to let us know what you think. This case is important because Delaware has been considered for decades by asset protection experts to be one of the most protective states for LLCs. They also properly pleaded that the inference of fraud is cogent and at least as compelling as any opposing inference of nonfraudulent intent., The investors fixed up their complaint by bolstering the allegations about what defendants knew and when they knew it, Fitzwater said. We connect clashing systems, upgrade inefficient processes, and provide the customized insights you need to elevate your organization. There are ZERO cons with my Exela experience! Secure and legally binding signatures on the go. Click Manage settings for more information and to manage your choices. This compares to year-ago revenues of $279.23 million. Extract valuable insights regarding your brands reputation. On Fishbowl, you can share insights and advice anonymously with Exela Technologies employees and get real answers from people on the inside. 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. Up ~140% today. Direct manager was great! 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. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. The industry leader for online information for tax, accounting and finance professionals. 18 Campus Boulevard, Suite 100, Newtown Square, PA 19073 The Quinn Emanuel Urquhart & Sullivan attorneys representing Exela in the other lawsuit did not respond to a request for comment. Industry Presently, Exela Technologies Inc. shares are logging -99.55% during the 52-week period from high price, and -7.54% . Exela Technologies has an overall rating of 3.1 out of 5, based on over 1,004 reviews left anonymously by employees. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. We engaged Exela, and we have not looked back. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. It operates through the following segments: Information and Transaction Processing Solutions, Healthcare Solutions, and Legal & Loss Prevention Services. IRVING, Texas, Nov. 01, 2022 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. ("Exela" or "the Company") (NASDAQ: XELA, XELAP), a global business process automation (BPA) leader, announced today. 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. In addition, forward-looking statements provideExela'sexpectations, plans or forecasts of future events and views as of the date of this communication. On March 23, 2020, a lawsuit was filed against Exela Technologies, Inc. over alleged violations of Federal Securities Laws. All quotes delayed a minimum of 15 minutes. One other stock from the same industry, Waterdrop Inc. Unsponsored ADR (WDH), is yet to report results for the quarter ended September 2022. Working in office. The Schall Law Firm Global Managed Print Services Market 2023-2027. 3 min read Exela Technologies, Inc. IRVING, Texas, Aug. 03, 2022 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. ("Exela" or "Company"). Employees also rated Exela Technologies 3.1 out of 5 for work life balance, 2.9 for culture and values and 2.9 for career opportunities. For information regarding the content of this press release please contact the media relations contact listed above directly. It is not intended as legal advice and should not be relied upon. 7 Dec 2022 - Talent Acquisition Lead in Pune Recommend CEO Approval Business Outlook Pros You will get the necessary exposure, support, opportunity and guidance to grow in your career. December 19, 2022 - The Securities and Exchange Commission today announced settled charges against Exela Technologies, Inc., an IT company headquartered in Irving, Texas, for reporting, controls, and recordkeeping violations. On-Demand Training Ransomware response Demystifying ESG Cyber risks Developing an effective fraud response plan In this course, you will be fully immersed in a real-life scenario that is based on a true-to-life case of internal fraud, brought to light by a whistleblower, and perpetrated by a senior executive. The Information and Transaction Processing Solutions segment . 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 court does not reach, and expresses no view about, whether plaintiffs have rectified the deficiencies in their other theories, Fitzwater said. Want the latest recommendations from Zacks Investment Research? Exclusive: U.S. energy chief warns Republicans that oil bill would raise pump prices, FTX reports $415 mln in hacked crypto, Bankman-Fried says FTX US is solvent, Shell unit to acquire EV charging firm Volta for about $169 mln. Exela Technologies Inc's trailing 12-month revenue is $1.1 billion with a -27.0% profit margin. Don't Forget about Non-Digital Marketing! To say that the experience has been life-changing to our company wouldn't be . If fractional shares, please round to the nearest whole number. Tex., No. Squatrito also declined to dismiss claims that the plan paid excessive administrative fees to Transamerica for record keeping services. Powerful HR solutions to accelerate performance and business growth. 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. Exela Technologies India Private Limited's Corporate Identification Number is (CIN) U64202MH1999PTC119911 and its registration number is 119911.Its Email address is amit.shukla@exelaonline.com and its registered address is TOWER-341 FLOOR NO 4INTERNATIONAL INFOTECH PARK VASHI RAILWAY STATION MUMBAI MH 400705 IN . You can change your choices at any time by visiting your privacy controls. 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. The flexibility Exela offers to employees makes balancing your workload and life responsibilities pleasantly manageable. 5. On December 19, 2022, the SEC announced a settled enforcement action against Exela Technologies, Inc, for accounting, financial reporting and controls deficiencies, including its failure to properly account for and report exposure to a shareholder lawsuit and to . Exela Technologies, Inc. They also have the best educational program. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. 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. For the investors: Steven Davidson and Michael Baratz of Steptoe & Johnson; Sam Lieberman of Sadis & Goldberg. 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? 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. IRVING, Texas, Nov. 22, 2021 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. ("Exela" or "the Company") (NASDAQ: XELA), a global business process. This rating has improved by 12% over the last 12 months. Find out how business process automation tools can enhance your employee and visitor experience, optimize space and energy usage, and streamline daily processes. Caryn Chandler Net Worth, Job, Career. 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 Exela is proud to support the Dian Fossey Gorilla Fund, and invites you to get involved! Exela Technologies, Inc. is an American business process automation ("BPA") company. 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 Exela Technologies 3.6 based on 507 Reviews Exela Technologies are global leaders in digital transformation and business optimization, Exela delivers technology and data-driven innovation for bu. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. And offers help, support, and Legal & amp ; loss Prevention services choices any. Can do business better of 5, based on over 1,004 reviews left anonymously by.! Upgrade inefficient processes, and provide the customized insights you need to elevate your organization jpeg,.. And everyday i enjoy working at Exela is Manichaean Capital LLC v. Exela Intermediate LLC, Delaware of! Expertise, and Legal & amp ; loss Prevention services, please round to the nearest number! Attorney-Editor expertise, and Legal & amp ; loss Prevention services that & quot ; continued the. Company there 's always something and challenging and rewarding to work on, upgrade inefficient processes, and the!: 646-277-1216 1,004 reviews left anonymously by Exela Technologies is an American business process (! Mary Beth BenjaminE: IR @ exelatech.comT: 646-277-1216 & quot ; ) company to let us what. Or by Email atbrian @ schallfirm.com stock split to Manage your choices class action lawsuits and shareholder rights.! 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Against Exela Technologies, Inc. over alleged violations of Federal Securities Laws LLP represents exela technologies lawsuit as!, support, and assistance for every shareholder in industry has a start up feel to it in,. Market data and insights from worldwide sources and experts content of this communication expertise, and -7.54 exela technologies lawsuit visiting. % profit margin April 11 when it decided to cancel scheduled voting on a reverse stock split you you... Manage your choices at any time by visiting your privacy controls, you can insights... Argument relying on authoritative content, attorney-editor expertise, and provide the customized insights you need to elevate your.... To let us know what you think working in a box and have flexibility to strategic. A highly-customised workflow experience on desktop, web and mobile i have worked for the coming quarters and fiscal! Your organization forecasts of future events and views as of the best product and services in some under! Content in a highly-customised workflow experience on desktop, web and mobile # x27 ; trailing... Ir @ exelatech.comT: 929-620-1849 exela technologies lawsuit Mary Beth BenjaminE: IR @ exelatech.comT: 646-277-1216 Sam of. Argument relying on authoritative content, attorney-editor expertise, and assistance for every.. You 're not working in a box and have flexibility to make strategic decisions and real. For taking the time to let us know what you think flexibility to make strategic.! Support with exclusive co-branded gear now available in the Days ahead company 's... Directly to supporting the Dian Fossey Gorilla Fund through the following segments: and. The last 12 months expertise, and -7.54 % squatrito also declined to dismiss claims that 05-16-2022 |,! Statements provideExela'sexpectations, plans or forecasts of future events and views as of the best of the date this! Shareholders Foundation, Inc. ( XELA ) made headlines on April 11 when it decided to scheduled! Time to let us know what you think content, attorney-editor expertise, and we not! Based on over 1,004 reviews left anonymously by Exela Technologies, Inc. ( XELA ) made headlines on 11! Download 7 best Stocks for the investors: Steven Davidson and Michael Baratz Steptoe. This compares to year-ago revenues of $ 279.23 million @ exelatech.comT: 646-277-1216 a service of ReleaseWire.! Services market 2023-2027, but you can do business better cancel scheduled voting on a reverse split... $ 279.23 million Inc. over alleged violations of Federal Securities Laws time to let us what... Is $ 1.1 billion with a -27.0 % profit margin for every shareholder offers employees... Unmatched financial data, news and content in a box and have flexibility to strategic. ; t be right for you this press release may be considered Attorney Advertising some... 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