She was positioned first as a manager and then as Matt's personal assistant. Security Policy | Terms of Service | Privacy Policy | Report Abuse, NASDAQ:XELA Investor Notice: Update in Lawsuit Against Exela Technologies, Inc. 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. We connect clashing systems, upgrade inefficient processes, and provide the customized insights you need to elevate your organization. Exelas recent financial statements were riddled with errors that would require restatement to fix. Waterdrop Inc. Unsponsored ADR's revenues are expected to be $107.54 million, down 11.1% from the year-ago quarter. ), Del. Exela Smart Office is a suite of interconnected workplace technologies and services. According to the Complaint, the Company made false and misleading statements to the market. Show your support with some co-branded gear! Year-over-year quarterly sales growth most recently was -5.4%. Squatrito also declined to dismiss claims that the plan paid excessive administrative fees to Transamerica for record keeping services. A lawsuit is pending for certain investors in investors in Exela Technologies, Inc. (NASDAQ:XELA) shares. This rating reflects the overall rating of Exela Technologies and is not affected by filters. 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. 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 . Find out more about how we use your information in our privacy policy and cookie policy. The court does not reach, and expresses no view about, whether plaintiffs have rectified the deficiencies in their other theories, Fitzwater said. This quarterly report represents an earnings surprise of -119.57%. See here for a complete list of exchanges and delays. I have worked for the company for several years and received multiple promotions. Press J to jump to the feed. The amended version also added support for the scienter element of each of the investor theories. With rapidly deployable enterprise software and a team of experienced specialists behind you, you can do business better. No org chart, not sure who's in charge and who's making decisions. Analysts expect adjusted earnings to reach $-3.415 per share for the current fiscal year. Having problems? Your documents will be securely held in AWS S3 and will only be used as proof of your transactions in connection with this matter. Based in Irving, TX, Exela Technologies is an industry leader with 22,000 employees and an annual revenue of $1.3B. Read More. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Specifically, the lawsuit alleges that the Company misled investors regarding its financial condition. 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. 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. Exela Technologies has an overall rating of 3.1 out of 5, based on over 1,004 reviews left anonymously by employees. You can reach us at connect@exelaonline.com. It is not intended as legal advice and should not be relied upon. On January 21, 2022, the Court issued an Order denying Defendants' Motion to Dismiss. Michael Daniels He wasnt a micromanager and valued my recruiting experience. Secure and legally binding signatures on the go. This lawsuit is for anyone who acquired securities in Exela Technologies, Inc. (NASDAQ: XELA) from March 16, 2018 through March 16, 2020. The SEC's investigation was conducted by Lesley Atkins and Natalie Lentz, and supervised by Jeff Leasure, Kristen Dieter, and Mark Cave. 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 Enterprise Solutions Inc. defeated portions of a lawsuit challenging its 401 (k) plan management, but it must face claims targeting the plan's administrative fees and share classes, according to a Monday ruling by the District of Connecticut. Click Manage settings for more information and to manage your choices. Shareholder Connect | Exela Technologies. Were still collecting data to inform categories such as Age, Disability, Sexual Orientation, and Veteran Status. You're not working in a box and have flexibility to make strategic decisions. The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. Revolutionizing Human Resource Management. 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. Whether we're in the office or working from home, Exela provides the tools for us to stay connected to each other and our candidates across the globe. Read More. Information about your device and internet connection, like your IP address, Browsing and search activity while using Yahoo websites and apps. Register Learn more Events Webcasts Without admitting or denying the SEC's findings, Exela and Reynolds have agreed to cease-and-desist orders and to pay civil money penalties in the amounts of $175,000 and $10,000, respectively. 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. 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. Solve this simple math problem and enter the result. 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 industry leader for online information for tax, accounting and finance professionals. The information is provided as a public service. Remote / Flexible location 401k Health Benefits. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Unified on a single, cloud-hosted platform, Digital Now is a suite of solutions built to accelerate your digital transformation. 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. 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. read more HQ - Irving, Texas, United States IT Services & Consulting 1k-5k Employees (India) Internet Write a Review Compare About Reviews 504 The SEC's order finds that Exela violated Sections 13(a), 13(b)(2)(A) and 13(b)(2)(B) of the Exchange Act and Rules 13a-1, 13a-13,13a-15(a) and 12b-20 thereunder, and that Reynolds caused Exela's violations of Section 13(a) of the Exchange Act and Rules 13a-13 and 12b-20 thereunder. 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. see more press releases. Love this company there's always something and challenging and rewarding to work on. 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. Exela Technologies (NASDAQ: XELA) made headlines on April 11 when it decided to cancel scheduled voting on a reverse stock split. Tex., No. They are not authored by Glassdoor. 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. Exela Technology Signs New Logo with Genealogy and Consumer Genomics Firm. 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. In terms of the Zacks Industry Rank, Technology Services is currently in the top 50% of the 250 plus Zacks industries. This case involved a complex corporate litigation. In examining the 52-week price action we see that the stock hit a 52-week . The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. These forward-looking statements should not be relied upon as representingExela'sassessments as of any date subsequent to the date of this press release. 3111 Camino Del Rio North - Suite 423 The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Exela Technologies Signs Strategic Partnership with Quintes Global. As a global leader in business process automation, were constantly refining our technologies and developing ideas to better serve our 4,000+ customers in more than 50 countries. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics. As such, many individuals have established LLCs there as part of their asset protection planning. Verify your email to use filters. for 1+3, enter 4. 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. - toxic work environment - poor management. The company culture has a start up feel to it. Log in to access all of your BLAW products, Investor in $157M 401(k) Plan Advances Excessive Fee Claims, Novitex Sued Over 401(k) Plan Fees, Not First Modest Plan Hit, Plan covers 9,000 people, holds about $157 million, Claims over plan share classes, administrative fees advance. 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. If youd like to share your ideas, write to us via email at connect@exelaonline.com. Exela is way ahead of its time in industry. 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. Brian Schall, Esq., 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 As a global leader in business process automation, were constantly refining our technologies and developing ideas to better serve our 4,000+ customers in more than 50 countries. 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. As a returning employee of Exela, I couldn't be more pleased with my career at Exela. On Fishbowl, you can share insights and advice anonymously with Exela Technologies employees and get real answers from people on the inside. Log in to access all of your BLAW products, Delaware High Court Upholds Appraisal Ruling That Bucked Trend, Adequately pleads acted with severe recklessness, If past complaints other issues fixed not addressed. 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. Hours. There are ZERO cons with my Exela experience! 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. You may redact your account numbers from your uploaded documents. We work hard to make our culture consistent with our values. 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 . OIC/Exela branded net sales go towards helping kids at the Orthopaedic Institute for Children (OIC). Exela Technologies Signs Strategic Partnership with Quintes Global, Exela Recognized as a Major Player in IDC MarketScape for U.S. RCM Service Solutions 2022-2023 Vendor Assessment, Exela Technology Signs New Logo with Genealogy and Consumer Genomics Firm. The Schall Law Firm Thanks for taking the time to let us know what you think. 50% of employees would recommend working at Exela Technologies to a friend and 45% have a positive outlook for the business. 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. We, Yahoo, are part of the Yahoo family of brands. 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. | Source: By submitting your information, you acknowledge that this form does not create an attorney-client relationship between yourself and The Schall Law Firm. 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. Join the case to recover your losses. Thank you for your feedback. Exela partners with customers to improve user experience and quality through operational efficiency. 3-21256. We are glad you took the time to share your experience. 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. I preferred to work remote. Pros & Cons are excerpts from user reviews. The SEC also announced settled charges against Exela's former Chief Financial Officer, James G. Reynolds, with causing Exela's . Find out more about salaries and benefits at Exela Technologies. 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. The plaintiff claims that 05-16-2022 | Business, Economy, Finances . Who could buy Manchester United and how much is it worth? Glassdoor has 1,004 Exela Technologies reviews submitted anonymously by Exela Technologies employees. 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. Shareholders Foundation, Inc. Thank you for your feedback. 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 Extraordinary pay, multiple options for benefits, and the best colleagues a company can offer makes Exela a 5-Star company for me! file size: 32 MB, Max. If you are a shareholder who suffered a loss, click here to participate. Exela Technologies, Inc. is an American business process automation ("BPA") company. Their latest complaint satisfied heightened pleading requirements for securities fraud concerning at least one theory of liability, so the suit can proceed, the U.S. District Court for the Northern District of Texas said. Ahead of this earnings release, the estimate revisions trend for Exela Technologies, Inc. Mixed. We connect clashing systems, upgrade inefficient processes, and provide the customized insights you need to elevate your organization. While the PTO plan is generous I would like to see a flexible PTO plan reinstated that we previously had. They also have the best educational program. Click Were a little short on data, but you can help. 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 This rating has improved by 12% over the last 12 months. Formerly a billion-dollar company, this has reduced Exela's market cap to around $150 million . Based on these facts, the Companys public statements were false and materially misleading. According to the order, Reynolds caused Exela's failure to identify and disclose two of those transactions in one 2019 quarterly filing. Freshfields Bruckhaus Deringer LLP 601 LEXINGTON AVENUE 31ST FLOOR NEW YORK, NY 10022 United States On August 5, 2021, a second amended Complaint was filed and the Defendants filed a Motion to Dismiss the second amended Complaint on September 3, 2021. On March 23, 2020, a lawsuit was filed against Exela Technologies, Inc. over alleged violations of Federal Securities Laws. Are a shareholder who suffered a loss, click here to participate violations Federal! 'S in charge and who 's making decisions year-ago quarter exela technologies lawsuit information for tax accounting... These forward-looking statements should not be relied upon as representingExela'sassessments as of any date subsequent to Order. People on the inside business process automation ( & quot ; ) company and specializes securities. The stock hit a 52-week transactions in connection with this matter of those transactions in with. Is it worth on the inside by Exela Technologies ( NASDAQ: XELA ) shares org chart, sure! Insights and advice anonymously with Exela Technologies and misleading statements to the date this. With rapidly deployable enterprise software and a team of experienced specialists behind,. Previously had single, cloud-hosted platform, Digital Now is a suite of solutions built to accelerate your Digital.... 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exela technologies lawsuit