Wall Street | Jotup

Records Show Insurance Commissioner's Deal with Industry to Expand Wildfire Coverage is a Sham, Says Consumer Watchdog

Retrieved on:

Thursday, October 26, 2023

Consumer Watchdog, Insurance, Policy, CDI, California Public Records Act, Legislation, Fraud, Legislature, Multimedia, Commissioner, Wall Street, Record, Language, Algorithm, Proposition 103, Book, Failure, Health insurance, Property management

The commissioner could waive the "85% commitment" to sell more home insurance in wildfire areas for any insurer that claims it cannot meet its commitment.

Key Points:

The commissioner could waive the "85% commitment" to sell more home insurance in wildfire areas for any insurer that claims it cannot meet its commitment.
The records obtained are emails and bill language circulated by the commissioner's chief deputy to the insurance industry's top lobbyists and legislative staff in late August.
"These documents prove Commissioner Lara's deal with the insurance industry is an outrageous fraud on the public that will make Californians pay vastly more for insurance but not get more people insured.
Lara tried to jam the deal through the legislature, and when that failed repackaged it as a regulatory plan.

Migros upgrades to ION's new Wallstreet Suite solution and migrates to the ION Cloud

Retrieved on:

Thursday, October 26, 2023

Treasury, ION, Data management, Environment, Risk management, Partnership, Migros, Wall Street, Automation, Cryptocurrency, Cloud

LONDON, Oct. 26, 2023 /PRNewswire-PRWeb/ -- ION Treasury, a global provider of treasury and risk management solutions for corporations, financial institutions, and central banks, announces that Migros has successfully upgraded to ION's new Wallstreet Suite solution deployed in the ION Cloud.

Key Points:

Running Wallstreet Suite in the Cloud will simplify Migros' operations, reduce their costs, and increase their agility while improving the overall security and integration of the solution.
We will use Wallstreet Suite to centralize workflows, automate key processes like bank reporting and settlement, and provide easy component upgrades.
"We are very excited to bring Migros to the new Wallstreet Suite solution and at the same time migrate them to our ION Cloud," said Richard Grossi, CEO of ION Corporates.
"By migrating to the ION Cloud, Migros has chosen the ideal environment to benefit from high system performance for Wallstreet Suite enabling scalability and business agility, yet reducing total cost of ownership," said Loic Leonard, Head of Product (Wallstreet Suite) at ION Treasury.

I studied 1 million home sales in metro Atlanta and found that Black families are being squeezed out of homeownership by corporate investors

Retrieved on:

Thursday, October 26, 2023

Critics say this practice drives up home prices and worsens the housing shortage, making it harder for families to afford to buy.

Key Points:

Critics say this practice drives up home prices and worsens the housing shortage, making it harder for families to afford to buy.
So I analyzed more than 1 million property sales in the Atlanta metropolitan area from 2007 to 2016.
I found that global investment firms buying up local properties are indeed hurting Atlanta families – specifically, Black ones.

Neighborhood transformations

For an average neighborhood, home purchasing by large corporate investors explained one-quarter of that decline.
They’re even more concentrated in predominantly Black neighborhoods, where more than 10 houses in a row can be owned by the same corporation.
In my study, I found that large investors tend to snap up housing in majority-nonwhite, lower-income suburban neighborhoods.

Home is where the financial security is

Despite this, the national homeownership rate declined by 5.5 percentage points between 2007 and 2016, reaching a five-decade low of 62.9%.
To be sure, policies like racial covenants, discriminatory mortgage lending practices and redlining fueled low homeownership rates for Black Americans long before the Great Recession.
But global investors’ growing control of single-family homes only widens existing racial gaps in homeownership and wealth.

Directions for new research

While my study focused on Atlanta, it’s not the only place where residents are competing with global investors for housing.
Investment firms’ single-family rental portfolios are largely concentrated in Sun Belt metro areas, including Phoenix, Charlotte and Jacksonville.
Many investment firms have recently been switching from a buy-to-rent business model to a build-to-rent model, which could complicate matters.

An open-source tool for housing policy research

It’s been hard for researchers to identify corporate-owned, single-family homes, since it requires proprietary real-estate data and labor-intensive number crunching.
Using data-driven approaches like this is an important step toward developing policy solutions.

Brian Y. An does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

Sterling Stock Picker Scoops Top Investing Software Award for Second Year Running

Retrieved on:

Monday, October 23, 2023

Software as a service, Financial services, Main Street, Software, Artificial intelligence, Wall Street, Investment, Service, Cryptocurrency

"Winning a top Saas Award for two years running speaks to the success and long-term viability of the Sterling Stock Picker software," says Jaden Sterling, who developed the company's software, referred to as North Star.

Key Points:

"Winning a top Saas Award for two years running speaks to the success and long-term viability of the Sterling Stock Picker software," says Jaden Sterling, who developed the company's software, referred to as North Star.
The company offers truly independent recommendations on shares, with no ties to the investments the North Star software may suggest for Sterling Stock Picker clients.
"Our goal with the Sterling Stock Picker is to take Wall Street to Main Street," says Sterling.
The Sterling Stock Picker software launched in 2017 and currently has 32 dedicated shareholders.

Graphene Manufacturing Group Board Appoints Former Wall Street Veteran and Manufacturing Entrepreneur Jack Perkowski to Chair of Board of Directors

Retrieved on:

Tuesday, October 24, 2023

Partner, Harvard Business School, Paine Webber, ASIMCO, GMG, Energy, Chairperson, Triple accreditation, Chair, Wall Street, The Company, Head, UBS, Graphene, ASIMCO Technologies, Audit committee, Management, Yale University

In 1991, Mr. Perkowski moved to Hong Kong in order to focus on the development of Asia and China, and in 1994 founded Beijing based ASIMCO Technologies.

Key Points:

In 1991, Mr. Perkowski moved to Hong Kong in order to focus on the development of Asia and China, and in 1994 founded Beijing based ASIMCO Technologies.
GMG's CEO Craig Nicol stated, "I'm very excited to see Jack becoming Chair of the Board of Directors of the Company to support our progression into a commercial manufacturing operation.
I also want to thank Guy Outen for his role as Chair of the Board of Directors for the past four years - including his work as Audit Committee Chair."
Jack Perkowski, GMG's Chair added, "I'm delighted to be appointed by my fellow Directors to Chair of the Board of the Company.

ESMT Alert: Monsey Firm of Wohl & Fruchter Investigating Fairness of the Proposed Sale of EngageSmart, Inc.

Retrieved on:

Wednesday, October 25, 2023

Sale, Publishing, NYSE, Select or special committee (United States Congress), General Atlantic, Summit Partners, Committee, Vista Equity Partners, Seeking Alpha, IMHO, Wohl, Wall Street, ESMT, TipRanks, Security (finance), Atlantic Ocean

MONSEY, N.Y., Oct. 25, 2023 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating the fairness of the proposed sale of EngageSmart, Inc. (NYSE: ESMT) (“ESMT”) to Vista Equity Partners (“Vista”) for $23.00 per share in cash.

Key Points:

MONSEY, N.Y., Oct. 25, 2023 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating the fairness of the proposed sale of EngageSmart, Inc. (NYSE: ESMT) (“ESMT”) to Vista Equity Partners (“Vista”) for $23.00 per share in cash.
On October 23, 2023, ESMT announced that it had agreed to be sold to Vista for $23.00 per share in cash.
Upon closing of the sale, Vista will hold approximately 65%, and General Atlantic will hold approximately 35% of the outstanding common stock.
“We are investigating whether the ESMT Board of Directors acted in the best interests of ESMT shareholders in approving the sale,” explained Joshua Fruchter, a founding partner of Wohl & Fruchter.

Moore Kuehn Encourages INVO, ESMT, HES, and TGH Investors to Contact Law Firm

Retrieved on:

Tuesday, October 24, 2023

TGH, NYSE, Hess Corporation, Hess, Fraud, Vista Equity Partners, Textainer Group Holdings, Wall Street, Chevron Corporation, PLLC, Security (finance), Bank

Moore Kuehn may seek increased consideration, additional disclosures, or other relief on behalf of the shareholders of these companies.

Key Points:

Moore Kuehn may seek increased consideration, additional disclosures, or other relief on behalf of the shareholders of these companies.
Moore Kuehn encourages shareholders who would like to discuss their rights to contact Justin Kuehn, Esq.
Shareholders should contact the firm immediately as there may be limited time to enforce your rights.
Moore Kuehn is a 5-star Google client-rated New York City law firm with attorneys representing investors and consumers in litigation involving securities laws, fraud, breaches of fiduciary duties, and other claims.

HES Alert: Monsey Firm of Wohl & Fruchter Investigating Fairness of the Proposed Sale of Hess Corporation to Chevron

Retrieved on:

Monday, October 23, 2023

Hess Corporation, Sale, Wohl, TipRanks, Hess, Chevron Corporation, NYSE, Wall Street, Sales, Audit

MONSEY, N.Y., Oct. 23, 2023 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating the fairness of the proposed sale of Hess Corporation (NYSE: HES) (“Hess”) to Chevron Corporation (“Chevron”) in an all-stock transaction valued at $171.00 per share.

Key Points:

MONSEY, N.Y., Oct. 23, 2023 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating the fairness of the proposed sale of Hess Corporation (NYSE: HES) (“Hess”) to Chevron Corporation (“Chevron”) in an all-stock transaction valued at $171.00 per share.
On October 23, 2023, Hess announced that it had agreed to be sold to Chevron in an all-stock transaction valued at $171.00 per share based on Chevron’s closing price on October 20, 2023.
Under the terms of the agreement, Hess shareholders will receive 1.0250 shares of Chevron for each Hess share.
“We are investigating whether the Hess Board of Directors acted in the best interests of Hess shareholders in approving the sale,” explained Joshua Fruchter, a founding partner of Wohl & Fruchter.

NewAmsterdam Pharma Announces Appointment of Ian Somaiya as Chief Financial Officer

Retrieved on:

Monday, October 23, 2023

Mr. Somaiya is an established healthcare executive with extensive financial and operational expertise, including over two decades of experience on Wall Street as a prominent biotechnology research analyst.

Key Points:

Mr. Somaiya is an established healthcare executive with extensive financial and operational expertise, including over two decades of experience on Wall Street as a prominent biotechnology research analyst.
Ian is a proven leader, who possesses a breadth of industry experience, as well as deep relationships within the financial community,” said Michael Davidson, M.D., Chief Executive Officer of NewAmsterdam.
We look forward to his many contributions.”
Mr. Somaiya joins NewAmsterdam Pharma with over twenty-five years’ experience in senior leadership roles in the biopharmaceutical industry.
Prior to joining TCR2, Mr. Somaiya was managing director and head of biotechnology research at BMO Capital Markets.

MRTX Alert: Monsey Firm of Wohl & Fruchter Investigating Fairness of the Proposed Sale of Mirati Therapeutics, Inc. to Bristol Myers Squibb

Retrieved on:

Friday, October 20, 2023

Bristol Myers Squibb, Wohl, Sale, CVR, Wall Street, Audit, Retail, Mirati

MONSEY, N.Y., Oct. 20, 2023 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating the fairness of the proposed sale of Mirati Therapeutics, Inc. (Nasdaq: MRTX) (“Mirati”) to Bristol Myers Squibb (“Bristol Myers”) for $58.00 per share in cash, plus a contingent value right (CVR) potentially worth an additional $12.00 per share in cash.

Key Points:

MONSEY, N.Y., Oct. 20, 2023 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating the fairness of the proposed sale of Mirati Therapeutics, Inc. (Nasdaq: MRTX) (“Mirati”) to Bristol Myers Squibb (“Bristol Myers”) for $58.00 per share in cash, plus a contingent value right (CVR) potentially worth an additional $12.00 per share in cash.
If you remain a Mirati shareholder and have concerns about the fairness of the price, you may contact our firm at the following link to discuss your legal rights at no charge:
Alternatively, you may contact us by phone at 866-833-6245, or via email at [email protected] .
On October 8, 2023, Mirati announced that it had agreed to be sold to Bristol Myers for $58.00 per share in cash, plus a CVR potentially worth an additional $12.00 per share in cash.
“We are investigating whether the Mirati Board of Directors acted in the best interests of Mirati shareholders in approving the sale,” explained Joshua Fruchter, a founding partner of Wohl & Fruchter.