Latest news with #EleniKounalakis
Fox News
2 hours ago
- Politics
- Fox News
Kamala Harris' major California announcement triggers circular Dem firing squad
It's open season in the California gubernatorial primary after former Vice President Kamala Harris said she will not pursue a 2026 bid to be Gov. Gavin Newsom's successor. On July 30, Harris said in a statement that she would not seek elected office "for now." "In recent months, I have given serious thought to asking the people of California for the privilege to serve as their Governor. I love this state, its people, and its promise. It is my home. But after deep reflection, I've decided that I will not run for Governor in this election," she wrote, just a day before announcing her memoir "107 Days." Since the announcement, there have been many major developments in the race, including Lt. Gov Eleni Kounalakis dropping out to run for treasurer instead. "This decision was not made lightly," Kounalakis stated on Friday. "At this moment, I believe I can make the greatest impact by focusing on California's financial future." Kounalakis is a longtime friend of Harris, and she appeared to have gotten the backing of former House Speaker Nancy Pelosi before her exit. "We have many great candidates, one in particular, Eleni Tsakopoulos, whom I support," Pelosi said in a recent CNN interview, calling the Lt. Gov. by her maiden name. Her decision to drop out triggered a response from Rick Caruso, a Los Angeles real estate mogul who ran against Los Angeles Mayor Karen Bass in 2022. Caruso is considered a potential candidate to enter the gubernatorial race. "Eleni Kounalakis embodies the ingenuity, creativity, and drive that make California great," Caruso posted to X on Friday. "A widely respected business leader, she has created countless jobs for working families in our state. Her service in public office has been exemplary. I look forward to her next outstanding contribution to our great state." Meanwhile, the field still has a large pool of candidates, including former Rep. Katie Porter, Biden-era Health and Human Services Secretary Xavier Becerra, Superintendent of Public Instruction Tony Thurmond, and former Los Angeles Mayor Antonio Villaraigosa. Porter previously ran for Senate and came in third in the primary behind Sen. Adam Schiff and former Dodgers star Steve Garvey, a Republican. On the Republican side, Steve Hilton and Riverside County Sheriff Chad Bianco are running for a spot in the top-two open primary system. Neither Harris nor Newsom has publicly made endorsements in the race, and the two are also considered possible contenders in the 2028 presidential election. The primary election is on June 2, 2026.
Yahoo
3 days ago
- Business
- Yahoo
Lt. Gov. Eleni Kounalakis drops out of California governor's race
The Brief California Lt. Gov. Eleni Kounalakis has dropped out of the 2026 gubernatorial race. She will instead run for State Treasurer, citing a desire to focus on the state's financial future. Kounalakis, who was polling at 3%, is barred from seeking a third term as lieutenant governor. LOS ANGELES - California's Lieutenant Governor Eleni Kounalakis has announced she is ending her campaign for governor in the 2026 election and will instead seek the position of state treasurer. What we know On Friday, Kounalakis announced that she is withdrawing from the 2026 gubernatorial race to run for state treasurer. Kounalakis, a Democrat who in 2018 became the first woman elected as California's lieutenant governor, is barred from seeking a third term in her current post. RELATED: CA Governor Race: Who is running to replace Newsom The current state treasurer, Fiona Ma, is also term-limited and is running for lieutenant governor. The field for treasurer also includes former Oakland Mayor Libby Schaaf, California State Board of Equalization member Tony Vazquez, and Senator Anna Caballero. The backstory A poll released Friday by Emerson College Polling showed Kounalakis with 3% of the vote for governor, tying with former Secretary of Health and Human Services and state Attorney General Xavier Becerra. Former Rep. Katie Porter led the poll with 18%, and former Fox News Channel host Steve Hilton was second with 12%. SUGGESTED: Kamala Harris says she will not run for California governor Kounalakis previously worked for her family's housing development firm and served as the United States ambassador to Hungary from 2010 to 2013. What they're saying In a statement, Kounalakis said, "after careful consideration and reflection, I have made the decision to end my campaign for governor and to run instead for state treasurer in 2026." She added that she believes she can "make the greatest impact by focusing on California's financial future," and that as state treasurer, she will bring a "deep commitment to fiscal responsibility, economic opportunity and strategic investment in our state's priorities from affordable housing and clean energy to infrastructure and education." Big picture view The role of the state treasurer is to act as California's lead asset manager, banker, and financier. The treasurer also chairs or serves on numerous state authorities, boards, and commissions. SUGGESTED: New effort to recall Gov. Newsom now underway following LA fires Kounalakis's decision to run for this position, along with Fiona Ma's run for lieutenant governor, sets up a new political dynamic for California's 2026 statewide races. The Source This article is based on a public statement released by Lieutenant Governor Eleni Kounalakis and a gubernatorial poll from Emerson College Polling. Additional details on the candidates and the treasurer's role were compiled from existing public records. Solve the daily Crossword
Fox News
3 days ago
- Business
- Fox News
California Democrat drops out of governor's race to run for a different role
California Lt. Gov. Eleni Kounalakis, who launched a gubernatorial bid more than two years ago, is dropping out and running for state treasurer instead. "At this moment, I believe I can make the greatest impact by focusing on California's financial future," the Democrat noted in a statement, according to Politico. Fox News Digital emailed Kounalakis' campaign early on Friday morning to request comment from the lieutenant governor. Former Vice President Kamala Harris announced in a statement last week that she had "given serious thought to" seeking the governorship, but decided not to do so "in this election." The 2026 gubernatorial contest is wide open since current Golden State Gov. Gavin Newsom, a Democrat who is serving his second term, cannot run again due to the state's two-term limit. "No Governor may serve more than 2 terms," the state constitution stipulates. Newsom, who took office in 2019, survived a gubernatorial recall election in 2021, and then went on to win election to a second term in 2022. Democrats running to succeed Newsom include former U.S. Rep. Katie Porter, former Department of Health and Human Services Secretary Xavier Becerra, and others.
Malaysian Reserve
6 days ago
- Business
- Malaysian Reserve
Sable Offshore Corp. (SOC) Hit With Lawsuit Over Alleged Misleading Statements on California Oil Restart
SAN FRANCISCO, Aug. 5, 2025 /PRNewswire/ — Sable Offshore Corp. (NYSE: SOC) is now at the center of a securities class-action lawsuit, alleging that the company misled investors to inflate its stock price just before a major secondary offering. The drama unfolded around the company's long-delayed efforts to restart operations at its San Ynez Unit (SYU) assets, which have been dormant since a pipeline shutdown in 2015. National shareholders rights firm Hagens Berman urges Sable investors who suffered substantial losses to submit your losses now. The firm also encourages persons with knowledge who may be able to assist in the investigation to contact its attorneys. Class Period: May 19, 2025 – June 3, 2025Lead Plaintiff Deadline: Sept. 26, 2025Visit: the Firm Now: SOC@ 844-916-0895 Sable Offshore Corp. (SOC) Securities Class Action: The suit claims that on May 19, Sable triggered a stock frenzy with a press release announcing it had 'restarted oil production at SYU,' a claim that sent its shares soaring by a remarkable 12.5% in a single day. Riding this wave of investor enthusiasm, the company quickly priced a secondary stock offering two days later, raising a substantial $256.5 million. But the euphoria was short-lived. Just as the ink was drying on the offering, a letter from California's Lieutenant Governor, Eleni Kounalakis, allegedly surfaced that accused Sable of painting a deceptive picture. According to the complaint, the letter bluntly stated that the company's press release 'appears to mischaracterize the nature of recent activities' and that the so-called 'restart' was nothing more than 'well-testing procedures required by the Bureau of Safety and Environmental Enforcement prior to restart.' In a damning indictment, the letter is said to have declared, 'Characterizing testing activities as a restart of operations is not only misleading but also highly inappropriate.' When the contents of this letter were reported in the financial press on May 28, the market delivered a swift verdict. Sable's stock price plunged over 15% the very next day, wiping out the gains that had enticed new investors just a week earlier. The litigation now aims to hold the company accountable for what some are calling a calculated maneuver to raise capital under false pretenses. The case, Johnson v. Sable Offshore Corp., et al., is being litigated in the U.S. District Court for the Central District of California. 'We're investigating whether Sable may have misled investors about its restart progress and purported restart of SYU,' said Reed Kathrein, the Hagens Berman partner leading the investigation. If you invested in Sable and have substantial losses, or have knowledge that may assist the firm's investigation, submit your losses now » If you'd like more information and answers to frequently asked questions about the Sable case and our investigation, read more » Whistleblowers: Persons with non-public information regarding Sable Offshore should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email SOC@ About Hagens BermanHagens Berman is a global plaintiffs' rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman's team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at Follow the firm for updates and news at @ClassActionLaw.
Business Wire
04-08-2025
- Business
- Business Wire
SOC INVESTOR ALERT: Robbins Geller Rudman & Dowd LLP Announces that Sable Offshore Corp. Investors with Substantial Losses Have Opportunity to Lead Investor Class Action Lawsuit
SAN DIEGO--(BUSINESS WIRE)--The law firm of Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Sable Offshore Corp. (NYSE: SOC) publicly traded securities between May 19, 2025 and June 3, 2025, both dates inclusive (the 'Class Period') and/or pursuant and/or traceable to Sable Offshore's registration statement issued in connection with Sable Offshore's May 21, 2025 secondary public offering ('SPO'), have until September 26, 2025 to seek appointment as lead plaintiff of the Sable Offshore class action lawsuit. Captioned Johnson v. Sable Offshore Corp., No. 25-cv-06869 (C.D. Cal.), the Sable Offshore class action lawsuit charges Sable Offshore as well as certain of Sable Offshore's top executives and underwriters of the SPO with violations of the Securities Act of 1933 and/or the Securities Exchange Act of 1934. If you suffered substantial losses and wish to serve as lead plaintiff of the Sable Offshore class action lawsuit, please provide your information here: CASE ALLEGATIONS: Sable Offshore operates as an independent oil and gas company. According to the Sable Offshore class action lawsuit, on or about May 21, 2025, Sable Offshore conducted its SPO, issuing 10 million shares of its common stock at the offering price of $29.50 per share for proceeds of $295 million to Sable Offshore. The Sable Offshore class action lawsuit alleges that defendants throughout the Class Period and in the SPO's offering documents represented that Sable Offshore had restarted oil production off the coast of California when it had not. The Sable Offshore class action lawsuit further alleges that on May 23, 2025, Eleni Kounalakis, the Lieutenant Governor of California and chair of the California State Lands Commission wrote a letter to Sable Offshore's Vice President of Environmental & Government Affairs, Steve Rusch, stating that a May 19, 2025 Sable Offshore press release 'appears to mischaracterize the nature of recent activities, causing significant public confusion and raising questions regarding Sable's intentions. Your press release also implies that Sable has restarted operations at the Santa Ynez Unit (SYU). However, Commission staff has informed me that the limited volume oil flows are the result of well-testing procedures required by the Bureau of Safety and Environmental Enforcement prior to restart. These activities do not constitute a resumption of commercial production or a full restart of the SYU.' The May 23 letter was not published on the internet for the general public to view until May 28, 2025, the complaint alleges. On this news, the price of Sable Offshore stock fell more than 15%, according to the Sable Offshore class action lawsuit. Then, on June 4, 2025, the complaint alleges that Sable Offshore revealed that '[o]n June 3, 2025, a Santa Barbara County Superior Court Judge granted ex parte requests from plaintiffs in Center for Biological Diversity, et al. v. California Department of Forestry and Fire Protection, et al. (25CV02244) and Environmental Defense Center, et al. v. California Department of Forestry and Fire Protection, et al. (25CV02247) for temporary restraining orders prohibiting Sable Offshore Corp. ('Sable') from restarting transportation of oil through the Las Flores Pipeline System pending the hearing on an order to show cause regarding a preliminary injunction scheduled for July 18, 2025.' On this news, the price of Sable Offshore stock fell further, according to the Sable Offshore class action lawsuit. THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Sable Offshore publicly traded securities during the Class Period and/or pursuant and/or traceable to the SPO to seek appointment as lead plaintiff in the Sable Offshore class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Sable Offshore class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Sable Offshore class action lawsuit. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Sable Offshore class action lawsuit. ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world's leading law firms representing investors in securities fraud and shareholder litigation. Our Firm has been ranked #1 in the ISS Securities Class Action Services rankings for four out of the last five years for securing the most monetary relief for investors. In 2024, we recovered over $2.5 billion for investors in securities-related class action cases – more than the next five law firms combined, according to ISS. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs' firms in the world, and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information: Past results do not guarantee future outcomes. Services may be performed by attorneys in any of our offices.
