
Six Baron & Budd Shareholders Named to Lawdragon 500 Leading Plaintiff Financial Lawyers
Baron & Budd shareholders Steve Baron, Russell Budd, Andrew Miller, William G. Powers, Scott Simmer and Roland Tellis are ranked among the Lawdragon 500 Leading Plaintiff Financial Lawyers in the United States.
The Lawdragon list is compiled through nominations, independent research and vetting with other lawyers.
Russell Budd and Steve Baron made the list for their work in consumer protection and class action cases.
Russell Budd has been the firm's president and managing shareholder since 2002. For more than 40 years, he has successfully fought for the victims of corporate wrongdoing and individuals affected by asbestos. Currently, Budd serves as Co-Lead Counsel for the Attorney General litigation track in the Insulin Pricing MDL.
Steve Baron heads the firm's mesothelioma and asbestos practice, which has secured large verdicts and settlements to cement Baron & Budd's reputation as a watchdog for consumer protection.
Andrew Miller, William Powers and Scott Simmer, who work in the firm's Washington, D.C. office, were recognized for their work in whistleblower cases.
Andrew Miller also made the list for his work on SEC, IRS and fraud litigation. His practice focuses on fraud and abuse litigation under federal and state False Claims Acts and represents clients with claims filed with the Whistleblower Offices of the Securities and Exchange Commission and the Internal Revenue Service.
William Powers, who also was recognized for his expertise in consumer protection cases, is part of the firm's qui tam practice, specializing in litigation to combat civil fraud under the False Claims Act, Anti-Kickback Statute, and the Stark Law. Powers represents clients with claims filed with the Whistleblower Offices of the Securities and Exchange Commission and the Internal Revenue Service.
Scott Simmer is a veteran litigator who specializes in rooting out deceit and fraud in hidden corners of government programs, education and healthcare industries. Simmer represents whistleblowers bringing qui tam cases of fraud under federal and state False Claims Acts as well as IRS, Securities and Exchange Commission (SEC) and Foreign Corrupt Practices Act (FCPA) whistleblowers. He also made the Lawdragon list for his work in investigations and SEC trials.
Roland Tellis leads the firm's Los Angeles-based class action practice group. He specializes in consumer class actions, financial fraud, business torts, corporate misconduct, and automobile defects.
About Baron & Budd, P.C.
With more than 40 years of experience, Baron & Budd has the expertise and resources to handle complex litigation throughout the United States. As a law firm that takes pride in remaining at the forefront of litigation, Baron & Budd has spearheaded many significant cases for hundreds of public entities and tens of thousands of individuals. Since the firm was founded in 1977, Baron & Budd has achieved substantial national acclaim for its work on cutting-edge litigation, trying hundreds of cases to verdict and settling tens of thousands of cases in areas of litigation as diverse and significant as dangerous and highly addictive pharmaceuticals, defective medical devices, asbestos and mesothelioma, wildfires, environmental contamination, fraudulent banking practices, e-cigarettes, motor vehicles, federal whistleblower cases and other consumer fraud issues.
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New York Post
2 hours ago
- New York Post
How downtown Los Angeles became a boarded-up ghost-town with hoards of drug-smoking vagrants and dozens of shuttered storefronts
LOS ANGELES — Downtown in the City of Angels is looking more and more like a ghost town. The famed Los Angeles neighborhood has become a shadow of its former glory — with rows of boarded up shops, chain stores leaving in droves and hoards of drug-using vagrants sparking major safety concerns for shoppers and business owners alike. The Post can reveal that there are more than 100 vacant storefronts in the area's Historic Core, which was the rip-roaring heart of the downtown shopping and entertainment district. Advertisement 17 A homeless encampment seen in downtown Los Angeles on Aug. 16, 2025. Ruaridh Connellan for NY Post 17 A map of business closures in the Historic Core of LA. Donald Pearsall / NY Post Design The area's Art Deco buildings and lavish theater marquees are still there, but they now overlook busted windows, boarded-up storefronts, and throngs of homeless people smoking drugs from glass pipes in broad daylight. Advertisement Around one-third of commercial spaces sits empty, according to research firm Avison Young — a higher vacancy rate than Detroit. Even the most stalwart businesses are being driven out by crime, record-high rents and an ever-shrinking pool of Angelenos with any reason to be downtown, according to business owners. 'Many historical independent restaurants are struggling under the weight of these issues and have already closed, while those remaining are fighting to survive,' wrote the LA's oldest eatery, Cole's French Dip, when it announced its forthcoming closure. And it's not just mom-and-pop joints — chain stores have also been closing downtown locations at a disastrous clip. Macy's shuttered earlier this year as part of a massive corporate downsizing, leaving downtown without a department store for the first time in 150 years, according to LA Magazine. 17 Cole's French Dip announced its closure in DTLA. Ruaridh Connellan for NY Post Advertisement 17 A barefoot homeless man seen walking outside of Cole's French Dip. Ruaridh Connellan for NY Post Retailers Vans, Theory, Paul Smith and Acne have also vacated the nabe. In 2022, Starbucks closed one of its downtown locations, citing safety concerns. Other big-name brands like the Adidas and Apple stores fell victim to looters — both during the Black Lives Matter riots of 2020 and the anti-ICE protests this summer, though they continue operating. Each month, the streets of downtown get a little emptier — save for the homeless wandering into downtown from Skid Row in ever greater numbers. Advertisement 'They're coming all the way up to Spring Street now,' said one barber who works in the city's 'Historic Core.' The day before speaking to The Post, the barber, who asked not to be named, had to call the cops when a homeless man stormed into the shop and barricaded himself inside. 'Everything is different now,' he said. 'You used to have people partying in the street. Students would come in from the colleges. They'd get a haircut and go out and have fun.' 17 Homeless people sleeping in the entranceway of a shuttered storefront in DTLA. Ruaridh Connellan for NY Post 17 A homeless man pushing a cart outside of the Hotel Barclay. Ruaridh Connellan for NY Post 17 An abandoned storefront seen in DTLA. Ruaridh Connellan for NY Post Before the pandemic, downtown LA was in the middle of a renaissance the likes of which it hadn't seen since the Roaring Twenties, when playboys and flappers perused the boutiques and glittering movie palaces of Broadway Street, according to historian William Deverell, author of 'Whitewashed Adobe: The Rise of Los Angeles.' 'There was a high-water mark around 2015 to 2020. It was a period of energy and redevelopment in the Arts District, in addition to the Historic Core,' Deverell said. But COVID-19 dealt a blow that downtown is still reeling from — and not just because people stopped going out. Advertisement 17 Protesters looting and vandalizing a Starbucks in downtown LA during the BLM protests on May 29, 2020. AP Photo/Christian Monterrosa,File 17 National Guard troops protecting a boarded up business in LA on June 6, 2020. Photo byRioters smashed and looted dozens of shops and restaurants during the BLM protests, and many businesses either never reopened or went under within the year. Today, many street-level businesses leave their windows boarded up as a standard precaution. And some of the neighborhood's most famous landmarks have become the biggest eyesores — including the empty former headquarters of the Los Angeles Times and the boarded-up Morrison Hotel, featured on the cover of the namesake Doors album. A skyscraper sits empty: The abandoned 677-foot Oceanwide Plaza tower has become a giant playground for hooligans and vandals. Advertisement 17 The abandoned Oceanwide Plaza seen on Aug. 16, 2025. Ruaridh Connellan for NY Post 17 Graffiti seen on the side of Oceanwide Plaza. Ruaridh Connellan for NY Post Down on the ground, criminals run roughshod, locals complain. Violent crime is down in the city overall, but downtown LA feels like a huge exception, said the owner of Benny Jewelry Behzad on Broadway. Advertisement 'It's been a 180-degree change here,' said Benny, adding that he's been held up at gunpoint twice in recent years. Benny said his real problem is rent, which has gone up 2-5% each year since the pandemic. 17 Burn marks seen on the windows of the Morrison Hotel in LA. Ruaridh Connellan for NY Post 17 A fence seen outside the abandoned LA Times headquarters. Ruaridh Connellan for NY Post Advertisement He isn't alone: Commercial rent in downtown reached a record high this year, with businesses shelling out almost $50 per square foot just for office space, according to Avison Young By comparison, the average office rent in downtown Manhattan in New York City is $57 per square foot, and nearly $90 per square foot in Midtown — areas that have seen a boom from post-pandemic return-to-office policies. 'Landlords need lower rents instead of just holding onto empty spaces,' said Michael Backlinder, whose coffee shop features one of the only outdoor dining spaces left on Broadway. 'Landlords need to understand they aren't sitting on a gold mine,' he said. 17 A closure message on the marquee of The Mayan seen on Aug. 16, 2025. Ruaridh Connellan for NY Post 17 A message to customers outside of The Mayan. Ruaridh Connellan for NY Post Yet Backlinder believes downtown remains a decent place for those who live there, thanks to a core of local watering holes, community art galleries, yoga studios and other services catering to neighborhood folk. Glen Proctor, who moved from New York with his husband after the pandemic, said they like the quieter streets — even if those streets come with graffiti and hooligans. 'Our life from New York is much more relaxed,' he said. 'It can get crazy with the unhoused around, but you get a lot more space for something you would pay a lot more for in Hollywood.' 17 A homeless person sleeping on a bench at a bus stop in DTLA. Ruaridh Connellan for NY Post 17 A homeless person sleeping outside of an abandoned building in DTLA. Ruaridh Connellan for NY Post Proctor and his husband aren't alone: More Angelenos are choosing to live downtown rather than vie for space in ritzier neighborhoods. Apartment occupancy is currently around 90%, according to the DTLA Alliance, which is higher than pre-pandemic levels. Backlinder believes neighborhood is due for a comeback, but it won't get one by trying to be the next Greenwich Village. 'After the pandemic, you had corporate stuff coming in, high-end retail. High-end retail is what people buy online. We need landlords to activate the streets and invest in services for the people who live here.' But for downtown to change, the city has to invest in it — and change the faded perception of the nabe. 'Everyone thinks people are dying downtown, but that's not the case,' he said. 'People just need to talk more positively.'
Yahoo
3 hours ago
- Yahoo
Bill Ackman pours billions into 2 tech stocks amid AI boom
Bill Ackman pours billions into 2 tech stocks amid AI boom originally appeared on TheStreet. Bill Ackman, the billionaire hedge fund manager behind Pershing Square Capital Management, continued to tilt his portfolio further toward Big Tech's "Magnificent Seven." According to the firm's latest 13F filing with the SEC, Pershing made a new billion-dollar buy and expanded its stake in another major holding in Q2. Both moves shifted Pershing Square further toward the artificial intelligence boom via two of the market's most influential stocks. The so-called "Magnificent Seven" stocks and their stock symbols are: Apple AAPL Microsoft MSFT Amazon AMZN Alphabet GOOGL/GOOG Nvidia NVDA Meta META Tesla TSLA These stocks have carried much of the market's momentum in recent years. Hedge funds have increasingly turned to them as safe havens and growth drivers, especially as AI accelerates adoption across virtually every industry. Who is Bill Ackman? Bill Ackman is a hedge fund manager and founder of Pershing Square Capital Management, a money manager with $13.7 billion in assets under management, according to its August 2025 13F filing with the SEC. Ackman's investment strategy involves making large, concentrated bets on companies that he thinks are undervalued relative to their opportunities. His holding period is best defined as long-term. Pershing Square Capital Management's 13F report showed that Ackman owned only 11 publicly traded stocks as of June 30. His success as a hedge fund manager has translated into a net worth of $8.25 billion, ranking him 420th on Bloomberg's Billionaires Index. Ackman tilts more money toward the Mag 7, AI stocks Ackman has now joined those investing in the magnificent seven stocks more forcefully. His 13F filing reveals that more than 24% of Pershing Square's portfolio is concentrated in just two mega-cap giants: Amazon () and Alphabet () . More Tech Stocks: Analyst who correctly predicted Rocket Lab stock surge resets forecast Verizon Q2 earnings report surprises with remarks on tax reformWhile he has long been comfortable running a concentrated portfolio strategy, this latest shift marks one of the clearest signs yet of Ackman's conviction in AI as a structural trend. Ackman makes new billion-dollar Amazon buy Ackman's most eye-catching move last quarter was purchasing 5.82 million shares of Amazon, valued at more than $1.3 billion. The e-commerce and cloud giant now represents Pershing's fourth-largest holding, accounting for about 9.3% of the fund's portfolio. Amazon's latest quarterly results underscored why Ackman may see long-term value. The company beat Wall Street estimates on both the top and bottom lines, though shares slid after some analysts were disappointed by slower-than-expected growth in its Amazon Web Services (AWS) unit. Amazon management has emphasized that heavy investment in AI-related infrastructure should pay dividends over time as demand for AI accelerates on a broad scaleAmazon's stock has been volatile in 2025. Shares slipped earlier this year after President Donald Trump announced a new round of tariffs on April 2, rattling markets. Yet the stock has since regained momentum and is now up around 5% year to date. Pershing doubles down on a familiar name Pershing Square also boosted its position in Alphabet's Class A shares by 21% during the quarter. Combined with its existing holdings in Alphabet's Class C shares, the parent company of Google now represents Pershing's third-largest investment. This increased exposure further highlights Ackman's conviction that Google's scale, cash flow, and leadership in AI make it a resilient bet despite heightened competition from Microsoft, OpenAI, and others. Ackman's bets fit a broader hedge fund trend: Doubling down on the Magnificent Seven stocks driving market performance in the AI Pershing Square, Amazon and Alphabet together now represent nearly a quarter of its total portfolio, which signals enormous confidence in Big Tech's staying power, particularly as AI reshapes industries from retail and logistics to search and advertising. Ackman's AI-driven playbook Ackman has never shied away from bold, concentrated bets, and his latest moves suggest he sees the AI wave as a long-term structural trend rather than a passing hype cycle. By targeting Amazon's cloud-driven growth and Alphabet's dominance in digital advertising and search, he appears to be positioning Pershing to benefit from two of the most important technology trends of the next decade. While risks remain investing in these two tech juggernauts, from regulatory scrutiny to intensifying competition, Pershing's Q2 activity reinforces the view that Ackman believes the Magnificent Seven are not just market leaders, but rather foundational to the future of global Ackman pours billions into 2 tech stocks amid AI boom first appeared on TheStreet on Aug 17, 2025 This story was originally reported by TheStreet on Aug 17, 2025, where it first appeared.
Yahoo
7 hours ago
- Yahoo
Warren Buffett Is Selling Apple and Bank of America Stock and Piling Into an Embattled Healthcare Stock Down 46% This Year
Key Points Warren Buffett and Berkshire Hathaway's team of investors continued a recent trend in trimming down their positions in Apple and Bank of America. Apple is Berkshire's top holding, while Bank of America is the large conglomerate's third-largest holding. Berkshire's biggest buy in the quarter involved a beaten-down health insurance stock. 10 stocks we like better than UnitedHealth Group › Each quarter, investors anxiously await Warren Buffett's company Berkshire Hathaway filing its 13F filing with the Securities and Exchange Commission, divulging what stocks Berkshire held at the end of the quarter, and, therefore, what stocks the company bought and sold in any given quarter. Investors are always looking for a glimpse into the genius of Buffett and his team of investors, especially with Buffett set to step down as CEO of the company at the end of the year. While Berkshire has been quiet in recent quarters, the large conglomerate made some notable moves in the second quarter. Berkshire recently sold some shares in two of its largest positions, while piling into an embattled healthcare stock that has struggled immensely this year. Trimming Apple and Bank of America In the second quarter, Berkshire continued to trim its largest position, Apple (NASDAQ: AAPL), and its third-largest holding, Bank of America (NYSE: BAC). In the quarter, Berkshire sold 7% of its stake in Apple and 4% of its stake in Bank of America. Over the past year, Berkshire has reduced its stake in Apple by 30% and Bank of America by 41%. While the bull market has raged for more than 2.5 years, Berkshire has plodded along conservatively, hoarding hundreds of billions of dollars in cash and cash equivalents, selling more stocks than it buys, and even turning away from share repurchases more recently. Given stretched valuations and the stock market's big run, many investors simply think Buffett and his team are not seeing compelling opportunities. There's also talk that Berkshire is staying conservative to prepare for the big transition that will see Buffett step down as CEO but retain his role as chairman of the board of directors. Longtime Berkshire veteran Greg Abel is set to step into Buffett's big shoes. Berkshire's stock got off to a terrific start this year but has floundered since the transition was announced. Apple has been dealing with tariff-related issues all year. Buffett and Berkshire may have foreseen this once President Donald Trump won the election, leading them to pare back their position. If Berkshire is concerned about the economy, perhaps paring back some of their bank holdings makes sense as well, as banks are typically cyclical. Playing contrarian on this healthcare giant In the second quarter, Berkshire initiated a $1.57 billion position in the nation's largest healthcare insurer, UnitedHealth Group (NYSE: UNH). UnitedHealth's stock has been crushed this year and is down about 46%. However, after the news came out about Berkshire buying the stock, shares increased close to 9.5% in after-hours trading. UnitedHealth has dealt with a flurry of issues this year, including higher medical insurance costs, which is a common trend across the sector. In the second quarter, management at UnitedHealth revised its prior full-year outlook down to $16 adjusted earnings per share, significantly below Wall Street's consensus estimates coming into the year. The main culprit is medical costs, which management thinks will come in $6.5 billion higher than previously expected. The sector has struggled in the face of an aging population, higher utilization of and more expensive services, higher drug prices, and inflation. Additionally, the U.S. Department of Justice (DOJ) is probing UnitedHealth in a criminal investigation over the way it charges customers in its Medicare Advantage program. The Wall Street Journal has previously reported on suspicious billing practices that allegedly increase payouts to the company. In a statement in late July, UnitedHealth said it is cooperating with the DOJ but has "full confidence in its practices and is committed to working cooperatively with the Department throughout this process." At their core, Buffett and his team are value investors, meaning they look for stocks with a market value below a company's perceived intrinsic value. While UnitedHealth has struggled and is forecasting a significant earnings decline this year, management is still projecting double-digit revenue growth in 2025. Furthermore, the company's balance sheet seems to be on solid footing. Sure, the company has high debt, but through the first six months of the year, earnings from operations of about $14.3 billion are still more than 7 times debt interest expense. Additionally, UnitedHealth's dividend yield is now roughly 3.25%, while the company's trailing free-cash-flow yield is above 10%, showing the company can easily cover the dividend for the foreseeable future. In fact, UnitedHealth recently increased its quarterly dividend by 5%. Ultimately, UnitedHealth trades at a lower-than-usual forward price-to-earnings ratio, despite expectations of much lower earnings this year, and at less than 1 times revenue. Buffett and his team value strong moats, so with UnitedHealth still controlling market share in the healthcare insurance industry, they likely see an attractive risk-reward proposition. Should you buy stock in UnitedHealth Group right now? Before you buy stock in UnitedHealth Group, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and UnitedHealth Group wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $668,155!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,106,071!* Now, it's worth noting Stock Advisor's total average return is 1,070% — a market-crushing outperformance compared to 184% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of August 13, 2025 Bank of America is an advertising partner of Motley Fool Money. Bram Berkowitz has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple and Berkshire Hathaway. The Motley Fool recommends UnitedHealth Group. The Motley Fool has a disclosure policy. Warren Buffett Is Selling Apple and Bank of America Stock and Piling Into an Embattled Healthcare Stock Down 46% This Year was originally published by The Motley Fool