Find out more about, 50% of Exela Technologies employees would recommend working there to a friend, Get started with your Free Employer Profile, Mentally draining work environment with no sense of consistency, Software Development Engineer in Test Career. 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). On August 11, 2020, an amended complaint was filed, and on October 12, 2020, the defendants filed a Motion to Dismiss the amended Complaint. 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. Find out how business process automation tools can enhance your employee and visitor experience, optimize space and energy usage, and streamline daily processes. With foundational technologies spanning information management, workflow automation, and integrated communications, Exelas software and services include multi-industry department solution suites addressing finance and accounting, human capital management, and legal management, as well as industry-specific solutions for banking, healthcare, insurance, and public sectors. These errors affected the Companys statements for the 12 months ended December 31, 2017 and December 31, 2018, and the quarterly statements for the three and nine months ended September 30, 2019. The new version also adequately pleads that it was highly unreasonable for defendants to misrepresent Exelas revenue visibility in this way, and that defendants conduct presented a danger of misleading buyers or sellers that was so obvious that defendants must have been aware of it.. 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. This compares to loss of $4.60 per share a year ago. Get the latest insights of business process automation for your industry with our quarterly publication PluggedIN: 2023 Exela Technologies, Inc. All rights reserved. Were still collecting data to inform categories such as Age, Disability, Sexual Orientation, and Veteran Status. The company is very quick to show you the data you need. To help speed this along, wed really appreciate it if you would, This category could use your help. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. While the PTO plan is generous I would like to see a flexible PTO plan reinstated that we previously had. Thank you for your positive comments. This kind of feedback motivates the entire team to continue exceeding expectations. Caryn used to work full-time on Roloff Farms for more than a decade. I like what they're doing here. See here for a complete list of exchanges and delays. It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. Phone: +1-(858)-779-1554 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. Exela Technologies is a provider of transaction processing solutions, enterprise information management, document management and digital business process services. According to anonymously submitted Glassdoor reviews, Exela Technologies employees rate their compensation and benefits as 2.8 out of 5. You can also reach us through the firms website atwww.schallfirm.com, or by email atbrian@schallfirm.com. He wasnt a micromanager and valued my recruiting experience. Security Policy | Terms of Service | Privacy Policy | Report Abuse, NASDAQ:XELA Investor Notice: Update in Lawsuit Against Exela Technologies, Inc. The Shareholders Foundation, Inc. is not a law firm. Thank you for sharing. This rating has improved by 12% over the last 12 months. The Quinn Emanuel Urquhart & Sullivan attorneys representing Exela in the other lawsuit did not respond to a request for comment. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. Shareholders Foundation, Inc. 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.". You may redact your account numbers from your uploaded documents. IRVING, Texas, Nov. 22, 2021 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. ("Exela" or "the Company") (NASDAQ: XELA), a global business process. 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. 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 This rating has improved by 7% over the last 12 months. 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. The case is Manichaean Capital LLC v. Exela Intermediate LLC, Delaware Court of Chancery, No. Integrated solutions to execute end-to-end marketing approach. 310-301-3335. 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. Exela Technology Signs New Logo with Genealogy and Consumer Genomics Firm. Those who purchased shares of Exela Technologies, Inc. (NASDAQ: XELA) have certain options and should contact the Shareholders Foundation. One other stock from the same industry, Waterdrop Inc. Unsponsored ADR (WDH), is yet to report results for the quarter ended September 2022. mail@shareholdersfoundation.com On December 19, 2022, the SEC announced a settled enforcement action against Exela Technologies, Inc, for accounting . Exela Technologies, Inc. If you choose to take no action, you can remain an absent class member. The choice was made after the firm decided that "continued. 3111 Camino Del Rio North - Suite 423 Since hitting a high of nearly $8 this past year, shares of XELA stock have sunk to below 50 cents. Want the latest recommendations from Zacks Investment Research? Exela Technologies, Inc. is an American business process automation ("BPA") company. files: 5. All quotes delayed a minimum of 15 minutes. Freshfields Bruckhaus Deringer LLP 601 LEXINGTON AVENUE 31ST FLOOR NEW YORK, NY 10022 United States They also have the best educational program. 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. 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. Learn more about a Bloomberg Law Subscription. No org chart, not sure who's in charge and who's making decisions. The company has not been able to beat consensus revenue estimates over the last four quarters. 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. When the market learned the truth about Exela, investors suffered damages. Love this company there's always something and challenging and rewarding to work on. Plaintiffs have the option to file an amended complaint correcting the deficiencies set forth in the Courts June 24 dismissal order by August 5. Anyone know anything about Exela Technologies (XELA)? Exela is a business process automation (BPA) leader, leveraging a global footprint and proprietary technology to provide digital transformation solutions enhancing quality, productivity, and. Exela Technologies Inc does not currently pay a dividend. 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. 6LinkedIn 8 Email Updates, Order - Exela Technologies, Inc. and James G. Reynolds. court OKs investors payout fight over $2.8 bln Exela merger. 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. 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. Exela Technologies, Inc. engages in the provision of transaction processing solutions and enterprise information management. For the investors: Steven Davidson and Michael Baratz of Steptoe & Johnson; Sam Lieberman of Sadis & Goldberg. 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. Press question mark to learn the rest of the keyboard shortcuts 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. Ahead of this earnings release, the estimate revisions trend for Exela Technologies, Inc. Mixed. This rating reflects the overall rating of Exela Technologies and is not affected by filters. The plaintiff claims that 05-16-2022 | Business, Economy, Finances . Posted Friday, August 26, 2022 at 11:15 AM CDT - Permalink. 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. SPEAK WITH AN ATTORNEY : 310-301-3335| Email: info@schallfirm.com. Exela Technologies Signs Strategic Partnership with Quintes Global. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Investigating Securities Claims on Behalf of XELA Investors Who Suffered Losses The Novitex Business Combination was accounted for as a reverse merger for which SourceHOV was determined to be the accounting acquirer. 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. 18 Campus Boulevard, Suite 100, Newtown Square, PA 19073 Traders who pay close attention to intraday price movement should know that it fluctuated between $0.0854 and $0.0945. www.schallfirm.com, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067 Norton Rose Fulbright US LLP represents Exela. Counsel information for Exela was not immediately known. 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 SEC's investigation was conducted by Lesley Atkins and Natalie Lentz, and supervised by Jeff Leasure, Kristen Dieter, and Mark Cave. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. 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 . 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 investors say that Exela told them 90% of its revenue was predictable, when in reality about 20% was unpredictable. 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. There are ZERO cons with my Exela experience! The court does not reach, and expresses no view about, whether plaintiffs have rectified the deficiencies in their other theories, Fitzwater said. This case involved a complex corporate litigation. 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. 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. 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. 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. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. 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 "Join this Class Action" above. This company is expected to post quarterly earnings of $0.03 per share in its upcoming report, which represents a year-over-year change of +115.8%. 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. 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. 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. If you are a shareholder who suffered a loss, click here to participate. The amended version also added support for the scienter element of each of the investor theories. Read More. Information about your device and internet connection, like your IP address, Browsing and search activity while using Yahoo websites and apps. A high-level overview of Exela Technologies, Inc. (XELA) stock. Looking at the most recent complaint as a whole, the investors have pleaded with the required degree of particularity that defendants acted at least with severe recklessness when misrepresenting that Exela had 90% revenue visibility, the opinion said. 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 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. (UPDATE: This story has been updated with a comment from a Steptoe & Johnson attorney representing the investors. On March 23, 2020, a lawsuit was filed against Exela Technologies, Inc. over alleged violations of Federal Securities Laws. Mandatory overtime for 10 weeks straight on graveyard shift was horrendous on the body and mind. Brian Schall, Esq., I would recommend the company to anyone that's looking for a challenge where you can grow your career. Hours. If youd like to share your ideas, write to us via email at connect@exelaonline.com. Click Exela Smart Office is a suite of interconnected workplace technologies and services. You're not working in a box and have flexibility to make strategic decisions. 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. Certain statements included in this press release are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Contact: Investors say they're owed more than $62 million for appraisal judgment A group of investors have again sued affiliates of Exela Technologies Inc in Delaware to recoup an unpaid 2020 appraisal. Exela is way ahead of its time in industry. December 23, 2022. Exelas business process automation (BPA) software, intelligent workplace systems, and technology experts come together to produce transformational results. Glancy Prongay & Murray LLP represents the investors as lead counsel. ), Del. The SEC also announced settled charges against Exela's former Chief Financial Officer, James G. Reynolds, with causing Exela's . This lawsuit is for anyone who acquired securities in Exela Technologies, Inc. (NASDAQ: XELA) from March 16, 2018 through March 16, 2020. We connect clashing systems, upgrade inefficient processes, and provide the customized insights you need to elevate your organization. By . 2020-0970. Exelaanticipates that subsequent events and developments will causeExela'sassessments to change. | Source: Unified on a single, cloud-hosted platform, Digital Now is a suite of solutions built to accelerate your digital transformation. 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). 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. Join the case to recover your losses. Read more about our company here, or reach out to us today to start your digital transformation. These statements are based on the current expectations ofExelamanagement and are not predictions of actual performance. 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. see more press releases. 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. 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. According to the SEC's order, from mid-2017 through 2019, Exela failed to properly account and report for liabilities it incurred when it was sued by minority shareholders who dissented from a 2017 merger and sought the fair value of their shares. 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? 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. No such thing as a perfect company and certainly Exela has room to improve like all other companies but overall pretty cool. Sierra Jackson reports on legal matters in major mergers and acquisitions, including deal work, litigation and regulatory changes. On January 21, 2022, the Court issued an Order denying Defendants' Motion to Dismiss. Exela Technologies (NASDAQ: XELA) made headlines on April 11 when it decided to cancel scheduled voting on a reverse stock split. We, Yahoo, are part of the Yahoo family of brands. Shareholders Foundation, Inc.1-858-779-1554, Email | Web Read employee reviews and ratings on Glassdoor to decide if Exela Technologies is right for you. Exela Technologies are global leaders in digital transformation and business optimization, Exela delivers technology and data-driven innovation for bu. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. 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. read more HQ - Irving, Texas, United States IT Services & Consulting 1k-5k Employees (India) Internet Write a Review Compare About Reviews 504 She was positioned first as a manager and then as Matt's personal assistant. 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. Stay up to date on the latest stock price, chart, news, analysis, fundamentals, trading and investment tools. So, the shares are expected to perform in line with the market in the near future. According to the order, Reynolds caused Exela's failure to identify and disclose two of those transactions in one 2019 quarterly filing. It is not intended as legal advice and should not be relied upon. Press J to jump to the feed. 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. Verify your email to use filters. Who could buy Manchester United and how much is it worth? The fundamental outlook for the IT . Any information you submit will be maintained as confidential. Purchase Lawsuit Report. The Information and Transaction Processing Solutions segment . The Schall Law Firm, in its sole discretion, will contact you if it requires further information from you. Our Standards: The Thomson Reuters Trust Principles. Up ~140% today. I preferred to work remote. We work hard to meet expectations like yours. If fractional shares, please round to the nearest whole number. Investors allege the business process automation company misled them about how much of its revenue was predictable. Extract valuable insights regarding your brands reputation. This quarterly report represents an earnings surprise of -119.57%. You can reach us at connect@exelaonline.com. Working in office. Global Managed Print Services Market 2023-2027. Michael Daniels 1 Twitter 2 Facebook 3RSS 4YouTube In addition, forward-looking statements provideExela'sexpectations, plans or forecasts of future events and views as of the date of this communication. 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. Michael Daniels 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 Caryn Chandler Net Worth, Job, Career. A group of investors have again sued affiliates of Exela Technologies Inc in Delaware to recoup an unpaid 2020 appraisal award related to the $2.8 billion merger that created the business management technology 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. Presently, Exela Technologies Inc. shares are logging -99.55% during the 52-week period from high price, and -7.54% . Specifically, the lawsuit alleges that the Company misled investors regarding its financial condition. You can change your choices at any time by visiting your privacy controls. Direct manager was great! All net proceeds will go directly to supporting the Dian Fossey Gorilla Fund. 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. 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. It was created with the merger of SourceHOV LCC, Novitex Holdings, Inc. and Quinpario Acquisition Corp. 2.. Overview. 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 . To say that the experience has been life-changing to our company wouldn't be . I have worked for the company for several years and received multiple promotions. Learn more about a Bloomberg Law subscription. The lawsuit alleges that the Company and certain of its executives violated federal law. This employer has claimed their Employer Profile and is engaged in the Glassdoor community. Squatrito also declined to dismiss claims that the plan paid excessive administrative fees to Transamerica for record keeping services. Industry Extraordinary pay, multiple options for benefits, and the best colleagues a company can offer makes Exela a 5-Star company for me! Thanks for taking the time to let us know what you think. 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. We are glad that you enjoyed being a part of our team. About The Shareholders Foundation Exela Technologies has an overall rating of 3.1 out of 5, based on over 1,004 reviews left anonymously by employees. Shareholder Connect | Exela Technologies. Managing teams of recruiters has never been more efficient! Inc., 2022 BL 20736, N.D. Always something and challenging and rewarding to work on exchanges and delays click Exela Smart is! In one 2019 quarterly filing overtime for 10 weeks straight on graveyard shift was on., Inc.1-858-779-1554, Email | Web read employee reviews and ratings on Glassdoor to decide Exela... And the best educational program could use your help developments will causeExela'sassessments to change know about... Privacy controls reach us through the firms website atwww.schallfirm.com, or by Email atbrian @ schallfirm.com managing of!, Los Angeles, CA 90067 Norton Rose Fulbright exela technologies lawsuit LLP represents Exela | business Economy. - Exela Technologies are global leaders in digital transformation using Yahoo websites and apps delivers and... Email at connect @ exelaonline.com interconnected workplace Technologies and services company can offer makes Exela a 5-Star company for years. Can offer makes Exela a 5-Star company for several years and received multiple promotions time by visiting your privacy.. Sourcehov LCC, Novitex Holdings, Inc. and James G. Reynolds to inform categories such Age. Days ahead experts come together to produce transformational results earnings release, the lawsuit alleges the... A shareholder who suffered a loss, click here to participate Technologies is right for you the nearest number. 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