Latest news with #EasternDistrict
Globe and Mail
a day ago
- Business
- Globe and Mail
FLYWIRE SHAREHOLDER ALERT by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Reminds Investors With Losses in Excess of $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Flywire Corporation
Kahn Swick & Foti, LLC ('KSF') and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until September 23, 2025 to file lead plaintiff applications in a securities class action lawsuit against Flywire Corporation ('Flywire' or the 'Company') (NasdaqGS: FLYW), if they purchased the Company's securities between February 28, 2024 and February 25, 2025, inclusive (the 'Class Period'). This action is pending in the United States District Court for the Eastern District of New York. What You May Do If you purchased securities of Flywire and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ( or visit to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by September 23, 2025. About the Lawsuit Flywire and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws. On February 25, 2025, the Company announced its Q4 and FY 2024 financial results, disclosing a loss per share of $0.12 for Q4 2024, missing consensus estimates by $0.12, and revenue of $117.6 million, missing consensus estimates by $1.25 million, which it attributed to 'a complex macro environment with significant headwinds,' and that the Company would 'undertake an operational and business portfolio review' and certain 'efficiency measures' including 'a restructuring, which impacts approximately 10% of our workforce.' The case is Hickman v. Flywire Corporation, et al., No. 25-cv-04110. About Kahn Swick & Foti, LLC KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. This past year, KSF was ranked by SCAS among the top 10 firms nationally based upon total settlement value. KSF serves a variety of clients, including public and private institutional investors, and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago, New Jersey, and a representative office in Luxembourg. To learn more about KSF, you may visit
Yahoo
6 days ago
- Business
- Yahoo
Ex-Richmond Fed supervisor agrees to $652K penalty
This story was originally published on Banking Dive. To receive daily news and insights, subscribe to our free daily Banking Dive newsletter. A federal court entered a final judgment Friday against Robert Brian Thompson, a former Federal Reserve Bank of Richmond senior supervisor and examiner, concluding the Securities and Exchange Commission's insider trading case against him. Under the final consent judgment issued Friday by the U.S. District Court for the Eastern District of Virginia Thompson agreed to pay $584,873 in disgorgement and $67,750 in prejudgment interest. The payment was satisfied by a forfeiture order in a parallel criminal case, where Thompson pleaded guilty to insider trading and making false statements and was sentenced to two years in prison, according to the SEC. The SEC filed its complaint in November, charging Thompson with violating anti-fraud provisions. In December, the court entered a bifurcated consent judgment enjoining Thompson from violating the provisions. The SEC's lawsuit identified the two banks whose stocks Thompson reportedly traded as New York Community Bank and Capital One. In October 2023, Thompson obtained advance knowledge of a positive earnings announcement from a bank under his supervision – reportedly Capital One – and purchased $678,000 worth of the bank's stock hours before the public announcement, the SEC alleged. In January 2024, Thompson learned that another bank, presumably NYCB, in his portfolio would be disclosing unexpected loan losses worth hundreds of millions of dollars. He used this nonpublic information to purchase thousands of put options on the bank's stock two days before the announcement, the SEC said. The illegal trades resulted in Thompson obtaining $584,873 in illicit profits, according to the SEC complaint. Thompson made roughly $771,678 in personal profits over trades made between October 2020 and February 2024, the Justice Department said in November. The final order restricts Thompson from using any means of interstate commerce, mail services, or national securities exchange facilities to commit securities fraud. Additionally, he is prohibited from employing fraudulent schemes or devices in connection with securities transactions, making false statements or omissions of material facts that would mislead others in such transactions, or engaging in any deceptive practices that would operate as fraud upon any person in securities transactions. Some specific insider trading prohibitions include trading on inside information, such as buying or selling securities based on material nonpublic information while breaching a fiduciary duty or duty of trust. Thompson is also forbidden from tipping, which includes communicating material non-public information about securities or issuers to others for trading purposes while breaching a fiduciary duty or duty of trust. In April, the Richmond Fed barred Thompson from the banking industry. However, the Richmond Fed noted that an exemption might be granted in writing independently by the Federal Deposit Insurance Corp., the Federal Reserve Board, and the National Credit Union Administration board. If Thompson fails to adhere to the requirements of the Fed prohibition order, he could face fines of up to $1 million or a maximum of five years in prison.
CNN
20-07-2025
- Climate
- CNN
Typhoon rains batter Hong Kong before Wipha weakens to severe tropical storm in Guangdong
Rains from Typhoon Wipha pounded Hong Kong on Sunday as the storm skirted southwards before making landfall on the coast of China's Guangdong province, leaving fallen trees and scaffolding and sending over 200 people to seek refuge at temporary shelters. Hong Kong's weather authorities downgraded the typhoon warning to a No. 3 strong wind signal at 7:45 p.m. Just after 4 p.m., they had lowered the typhoon signal in the Asian financial hub to 8 from the maximum of 10, which had been hoisted for nearly seven hours. 'Compared to previous typhoons like Mangkhut and Hato, which caused much more astonishing destruction, the impact this time was primarily limited to fallen trees and collapsed scaffolding,' Eastern District councilor Kenny Yuen told Reuters. He was speaking in front of collapsed bamboo scaffolding that had fallen from a residential compound under renovation in North Point near the city's harbor and been swept onto the road. As the storm passed Hong Kong, more than 110 mm (4 inches) of rain fell within three hours and maximum wind gusts had exceeded 167 kph (103 mph) at some points. Much of the rain concentrated on the northern region neighboring the mainland, the city's observatory said. In a statement, the government said 26 people sought treatment in public hospitals during the typhoon, while 253 flocked to its shelters, and 471 fallen trees were reported. Wipha moved westward and made landfall on the coast of Taishan city in Guangdong at around 5:50 p.m., and then weakened to a severe tropical storm, China's state-run CCTV reported. Authorities in neighboring Macau, the world's biggest gambling hub, also downgraded the typhoon signal to 8 from 10, warning of flooding in its inner harbor area and urging residents to stay safe, public broadcaster TDM said. Hong Kong's airport authority said 80,000 travelers were hit by the rescheduling of 400 flights forced by the typhoon. Cathay Pacific Airways canceled all flights with Hong Kong airport between 5 a.m. and 6 p.m. on Sunday. It waived ticket-change fees and arranged for rebooking. Most public transport in Hong Kong was suspended, including ferries amid high sea swells.
CNN
20-07-2025
- Climate
- CNN
Typhoon rains batter Hong Kong before Wipha weakens to severe tropical storm in Guangdong
Rains from Typhoon Wipha pounded Hong Kong on Sunday as the storm skirted southwards before making landfall on the coast of China's Guangdong province, leaving fallen trees and scaffolding and sending over 200 people to seek refuge at temporary shelters. Hong Kong's weather authorities downgraded the typhoon warning to a No. 3 strong wind signal at 7:45 p.m. Just after 4 p.m., they had lowered the typhoon signal in the Asian financial hub to 8 from the maximum of 10, which had been hoisted for nearly seven hours. 'Compared to previous typhoons like Mangkhut and Hato, which caused much more astonishing destruction, the impact this time was primarily limited to fallen trees and collapsed scaffolding,' Eastern District councilor Kenny Yuen told Reuters. He was speaking in front of collapsed bamboo scaffolding that had fallen from a residential compound under renovation in North Point near the city's harbor and been swept onto the road. As the storm passed Hong Kong, more than 110 mm (4 inches) of rain fell within three hours and maximum wind gusts had exceeded 167 kph (103 mph) at some points. Much of the rain concentrated on the northern region neighboring the mainland, the city's observatory said. In a statement, the government said 26 people sought treatment in public hospitals during the typhoon, while 253 flocked to its shelters, and 471 fallen trees were reported. Wipha moved westward and made landfall on the coast of Taishan city in Guangdong at around 5:50 p.m., and then weakened to a severe tropical storm, China's state-run CCTV reported. Authorities in neighboring Macau, the world's biggest gambling hub, also downgraded the typhoon signal to 8 from 10, warning of flooding in its inner harbor area and urging residents to stay safe, public broadcaster TDM said. Hong Kong's airport authority said 80,000 travelers were hit by the rescheduling of 400 flights forced by the typhoon. Cathay Pacific Airways canceled all flights with Hong Kong airport between 5 a.m. and 6 p.m. on Sunday. It waived ticket-change fees and arranged for rebooking. Most public transport in Hong Kong was suspended, including ferries amid high sea swells.
Reuters
20-07-2025
- Climate
- Reuters
Typhoon rains batter Hong Kong before Wipha weakens to severe tropical storm in Guangdong
HONG KONG, July 20 (Reuters) - Rains from Typhoon Wipha pounded Hong Kong on Sunday as the storm skirted southwards before making landfall on the coast of China's Guangdong province, leaving fallen trees and scaffolding and sending over 200 people to seek refuge at temporary shelters. Hong Kong's weather authorities downgraded the typhoon warning to a No. 3 strong wind signal at 7:45 p.m. Just after 4 p.m., they had lowered the typhoon signal in the Asian financial hub to 8 from the maximum of 10, which had been hoisted for nearly seven hours. "Compared to previous typhoons like Mangkhut and Hato, which caused much more astonishing destruction, the impact this time was primarily limited to fallen trees and collapsed scaffolding," Eastern District councillor Kenny Yuen told Reuters. He was speaking in front of collapsed bamboo scaffolding that had fallen from a residential compound under renovation in North Point near the city's harbour and been swept onto the road. As the storm passed Hong Kong, more than 110 mm (4 inches) of rain fell within three hours and maximum wind gusts had exceeded 167 kph (103 mph) at some points. Much of the rain concentrated on the northern region neighbouring the mainland, the city's observatory said. In a statement, the government said 26 people sought treatment in public hospitals during the typhoon, while 253 flocked to its shelters, and 471 fallen trees were reported. Wipha moved westward and made landfall on the coast of Taishan city in Guangdong at around 5:50 p.m., and then weakened to a severe tropical storm, China's state-run CCTV reported. Authorities in neighbouring Macau, the world's biggest gambling hub, also downgraded the typhoon signal to 8 from 10, warning of flooding in its inner harbour area and urging residents to stay safe, public broadcaster TDM said. Hong Kong's airport authority said 80,000 travellers were hit by the rescheduling of 400 flights forced by the typhoon. Cathay Pacific Airways ( opens new tab cancelled all flights with Hong Kong airport between 5 a.m. and 6 p.m. on Sunday. It waived ticket-change fees and arranged for rebooking. Most public transport in Hong Kong was suspended, including ferries amid high sea swells.
