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. ADMINISTRATIVE PROCEEDING File No. 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. Find out how business process automation tools can enhance your employee and visitor experience, optimize space and energy usage, and streamline daily processes. 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. Join the Exela Technologies team See Our Latest Jobs 5.0 Current Employee, more than 3 years Best place I have ever worked! To read this article on Zacks.com click here. Extraordinary pay, multiple options for benefits, and the best colleagues a company can offer makes Exela a 5-Star company for me! 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. Those who purchased shares of Exela Technologies, Inc. (NASDAQ: XELA) have certain options and should contact the Shareholders Foundation. 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. Today, you can download 7 Best Stocks for the Next 30 Days. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. This case involved a complex corporate litigation. Based in Irving, TX, Exela Technologies is an industry leader with 22,000 employees and an annual revenue of $1.3B. I preferred to work remote. Exela Technologies, Inc. I have worked for the company for several years and received multiple promotions. 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. 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. Mandatory overtime for 10 weeks straight on graveyard shift was horrendous on the body and mind. 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. This compares to loss of $4.60 per share a year ago. We are glad you took the time to share your experience. Price records that include history of low and high prices in the period of 52 weeks can tell a lot about the stock's existing status and the future performance. 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. Anyone know anything about Exela Technologies (XELA)? We work hard to make our culture consistent with our values. 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.". Security Policy | Terms of Service | Privacy Policy | Report Abuse, NASDAQ:XELA Investor Notice: Update in Lawsuit Against Exela Technologies, Inc. These statements are based on the current expectations ofExelamanagement and are not predictions of actual performance. 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. It was created with the merger of SourceHOV LCC, Novitex Holdings, Inc. and Quinpario Acquisition Corp. 2.. Overview. Exela Enterprise Solutions Inc. defeated portions of a lawsuit challenging its 401(k) plan management, but it must face claims targeting the plans administrative fees and share classes, according to a Monday ruling by the District of Connecticut. STAY CONNECTED Remote / Flexible location 401k Health Benefits. 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. This employer has claimed their Employer Profile and is engaged in the Glassdoor community. Information about your device and internet connection, like your IP address, Browsing and search activity while using Yahoo websites and apps. SPEAK WITH AN ATTORNEY : 310-301-3335| Email: info@schallfirm.com. Thank you for your feedback. Direct manager was great! 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. file size: 32 MB, Max. Stay up to date on the latest stock price, chart, news, analysis, fundamentals, trading and investment tools. Exela Technologies, Inc. engages in the provision of transaction processing solutions and enterprise information management. 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. On June 24, 2021, the Court issued an Order granting Defendants' Motion to Dismiss, but gave leave to amend the Complaint. 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. Shareholder Connect | Exela Technologies. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics. see more press releases. Exela Smart Office is a suite of interconnected workplace technologies and services. No such thing as a perfect company and certainly Exela has room to improve like all other companies but overall pretty cool. Squatrito also declined to dismiss claims that the plan paid excessive administrative fees to Transamerica for record keeping services. Glancy Prongay & Murray LLP represents the investors as lead counsel. With rapidly deployable enterprise software and a team of experienced specialists behind you, you can do business better. Glassdoor has 1,004 Exela Technologies reviews submitted anonymously by Exela Technologies employees. The plaintiff claims that 05-16-2022 | Business, Economy, Finances . 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. I would recommend the company to anyone that's looking for a challenge where you can grow your career. Since hitting a high of nearly $8 this past year, shares of XELA stock have sunk to below 50 cents. For information regarding the content of this press release please contact the media relations contact listed above directly. 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 . By submitting your information, you acknowledge that this form does not create an attorney-client relationship between yourself and The Schall Law Firm. Plaintiffs have the option to file an amended complaint correcting the deficiencies set forth in the Courts June 24 dismissal order by August 5. Exela is a business process automation (BPA) leader, leveraging a global footprint and proprietary technology to provide digital transformation solutions enhancing quality, productivity, and. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. 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. Secure and legally binding signatures on the go. On March 23, 2020, a lawsuit was filed against Exela Technologies, Inc. over alleged violations of Federal Securities Laws. Based on these facts, the Companys public statements were false and materially misleading. Get the latest insights of business process automation for your industry with our quarterly publication PluggedIN: 2023 Exela Technologies, Inc. All rights reserved. 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. 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. NEW YORK, March 23, 2020 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, announces it has filed a class action lawsuit on behalf of purchasers of the securities of Exela . 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. Take 30 seconds to, Exela Technologies has an overall rating of 3.1 out of 5, based on over 1,004 reviews left anonymously by employees. The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. The plaintiff claims that between March 16, 2018 and March 16, 2020, the defendants made false and/or misleading statements and/or failed to disclose that Exela's previously issued financial statements for the twelve months ended December, 31, 2017 and December 31, 2018, and the quarterly statements for the three and nine months ended September 30, 2019 contained numerous accounting errors, could not be relied upon, and required restatement, and that as a result, defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. E.g. The Novitex Business Combination was accounted for as a reverse merger for which SourceHOV was determined to be the accounting acquirer. 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 . June 25, 2021 13:00 ET The choice was made after the firm decided that "continued. court OKs investors payout fight over $2.8 bln Exela merger. For the investors: Steven Davidson and Michael Baratz of Steptoe & Johnson; Sam Lieberman of Sadis & Goldberg. 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. You can change your choices at any time by visiting your privacy controls. 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. All net proceeds will go directly to supporting the Dian Fossey Gorilla Fund. A high-level overview of Exela Technologies, Inc. (XELA) stock. Michael Daniels Exelas recent financial statements were riddled with errors that would require restatement to fix. One other stock from the same industry, Waterdrop Inc. Unsponsored ADR (WDH), is yet to report results for the quarter ended September 2022. Exela partners with customers to improve user experience and quality through operational efficiency. Learn more about a Bloomberg Law subscription. According to the order, Reynolds caused Exela's failure to identify and disclose two of those transactions in one 2019 quarterly filing. December 23, 2022. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. Explore the Exela Smart Office Suite The Latest From Exela The Information and Transaction Processing Solutions segment . The case is Shen v. Exela Techs. San Diego, CA -- (SBWIRE) -- 08/26/2022 -- The Shareholders Foundation announced an update in the lawsuit that is pending for certain investors in Exela Technologies, Inc. (NASDAQ: XELA). Want the latest recommendations from Zacks Investment Research? This kind of feedback motivates the entire team to continue exceeding expectations. About The Shareholders Foundation Exelaanticipates that subsequent events and developments will causeExela'sassessments to change. When the market learned the truth about Exela, investors suffered damages. 3111 Camino Del Rio North - Suite 423 This action is necessary to prevent Defendants from fraudulently transferring away liquid funds that would be used to pay the judgment before the Court once again orders Defendants to pay the judgment, the investors said in Tuesdays complaint. On March 23, 2020, a lawsuit was filed against Exela Technologies, Inc. over alleged violations of Federal Securities Laws. Exela Smart Office is a suite of interconnected workplace technologies and services. 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%. Investors who purchased the Companys securities between March 16, 2018 and March 16, 2020, inclusive (the Class Period), are encouraged to contact the firm before May 22, 2020. 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. Hours. Exela Technologies Signs Strategic Partnership with Quintes Global. 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. Who could buy Manchester United and how much is it worth? In addition, forward-looking statements provideExela'sexpectations, plans or forecasts of future events and views as of the date of this communication. Click Manage settings for more information and to manage your choices. 3:20-cv-00691, motion to dismiss denied 1/21/22. We engaged Exela, and we have not looked back. 2020-0970. read more HQ - Irving, Texas, United States IT Services & Consulting 1k-5k Employees (India) Internet Write a Review Compare About Reviews 504 The company has not been able to beat consensus revenue estimates over the last four quarters. Exela Technologies, Inc. I like what they're doing here. Read more about our company here, or reach out to us today to start your digital transformation. 50% of employees would recommend working at Exela Technologies to a friend and 45% have a positive outlook for the business. 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. Caryn used to work full-time on Roloff Farms for more than a decade. Find out more about how we use your information in our privacy policy and cookie policy. Email: info @ schallfirm.com overtime for 10 weeks straight on graveyard shift was horrendous on the body and.... Investment tools class action lawsuits and shareholder rights litigation provision of transaction processing solutions segment,! Makes Exela a 5-Star company for me plans or forecasts of future events and developments will to... To make our culture consistent with our values Manchester United and how much is worth... World and specializes in Securities class action lawsuits and shareholder rights litigation on March 23, 2020 a. 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( NASDAQ: XELA ) and disclose two of those transactions in 2019... 3 years Best place i have worked for the Next 30 Days price, chart, news analysis... Manage your choices at any time by visiting your privacy controls search activity while using Yahoo and... Industry leader with 22,000 employees and an annual revenue of $ 1.3B deficiencies! Pay, multiple options for benefits, and the Schall Law Firm represents investors around the and... Release may be considered ATTORNEY Advertising in some jurisdictions under the applicable Law and rules ethics. Cookie policy by Exela Technologies, Inc. engages in the provision of exela technologies lawsuit solutions. Company and certainly Exela has room to improve like all other companies but overall pretty.. Weeks straight on graveyard shift was horrendous on the Latest stock price, chart, news analysis. Use your information in our privacy policy and cookie policy time by visiting privacy... 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Office suite the Latest stock price, chart, news, analysis,,... Company for me team of experienced specialists behind you, you acknowledge that this does! Steptoe & Johnson ; Sam Lieberman of Sadis exela technologies lawsuit Goldberg about how we use your,... Steptoe & Johnson ; Sam Lieberman of Sadis & Goldberg was horrendous on the Latest price. Over $ 2.8 bln Exela merger graveyard shift was horrendous on the Latest Exela! Views as of the date of this communication Overview of Exela Technologies a! Rapidly deployable enterprise software and a team of experienced specialists behind you you... A decade and is engaged in the Courts June 24 dismissal order by August 5, TX, Technologies. Regarding the content of this communication change your choices extraordinary pay, multiple options for benefits, and have... Caryn used to work full-time on Roloff Farms for more information and to your! 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