Latest news with #Jeffries'
Yahoo
30-05-2025
- Business
- Yahoo
Fluence Energy (FLNC) Fell by Almost 10% This Week. Here is Why.
The share price of Fluence Energy, Inc. (NASDAQ:FLNC) fell by 9.89% between May 20 and May 27, 2025, putting it among the Energy Stocks that Lost the Most This Week. Let's shed some light on the development. An illustration of digital intelligence and energy storage for a modern industrial facility with servers and storage racks in the background. Fluence Energy, Inc. (NASDAQ:FLNC) is a global market leader delivering intelligent energy storage and optimization software for renewables and storage. Fluence Energy, Inc. (NASDAQ:FLNC) surged by over 35% earlier this month after posting better-than-expected results for its Q2 2025, beating market estimates in both revenue and adjusted EPS. However, the company reduced its guidance for the second quarter in a row, primarily due to the economic uncertainty caused by President Trump's tariffs. So the recent downturn in share price could be due to investors taking their profits. Another factor contributing to the decline in Fluence Energy, Inc. (NASDAQ:FLNC) is Jeffries' recently downgrading the stock from Hold to Underperform, while also reducing its price target from $4 to $3. While we acknowledge the potential of FLNC to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than FLNC and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: 10 Cheap Energy Stocks to Buy Now and 10 Most Undervalued Energy Stocks to Buy According to Hedge Funds Disclosure: None. Sign in to access your portfolio
Yahoo
29-05-2025
- Business
- Yahoo
Fluence Energy (FLNC) Fell by Almost 10% This Week. Here is Why.
The share price of Fluence Energy, Inc. (NASDAQ:FLNC) fell by 9.89% between May 20 and May 27, 2025, putting it among the Energy Stocks that Lost the Most This Week. Let's shed some light on the development. An illustration of digital intelligence and energy storage for a modern industrial facility with servers and storage racks in the background. Fluence Energy, Inc. (NASDAQ:FLNC) is a global market leader delivering intelligent energy storage and optimization software for renewables and storage. Fluence Energy, Inc. (NASDAQ:FLNC) surged by over 35% earlier this month after posting better-than-expected results for its Q2 2025, beating market estimates in both revenue and adjusted EPS. However, the company reduced its guidance for the second quarter in a row, primarily due to the economic uncertainty caused by President Trump's tariffs. So the recent downturn in share price could be due to investors taking their profits. Another factor contributing to the decline in Fluence Energy, Inc. (NASDAQ:FLNC) is Jeffries' recently downgrading the stock from Hold to Underperform, while also reducing its price target from $4 to $3. While we acknowledge the potential of FLNC to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than FLNC and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: 10 Cheap Energy Stocks to Buy Now and 10 Most Undervalued Energy Stocks to Buy According to Hedge Funds Disclosure: None.
Yahoo
03-05-2025
- Yahoo
Ex-Abercrombie & Fitch CEO Mike Jeffries Mentally Unfit to Stand Trial, Per Court
A New York federal court has ruled that the former chief executive officer of Abercrombie & Fitch Mike Jeffries is mentally unfit to stand trial on charges of sex trafficking and interstate prostitution. Jeffries will be held for four months and treated in a hospital to determine whether his condition improves enough for his case to go forward. More from WWD Jury Selection to Start on Monday for Sean Combs' Sex Trafficking Trial U.K. Retailers Harrods, Marks & Spencer Attacked by Cyber Hackers Kohl's Is Trapped in a 'Perfect Storm' In October, Jeffries, who worked at the Columbus, Ohio-based retailer from 1992 to 2014, was charged with one count of sex trafficking and 15 counts of interstate prostitution. He is accused of orchestrating an international sex operation that involved using his influence and phony modeling opportunities to take advantage of a few dozen men. The alleged incidents were said to have taken place in various properties and at some luxury hotels around the world. His romantic partner Matthew Smith and James Jacobson, an alleged middleman, were also arrested last year and they face the same charges as Jeffries. All three men plead not guilty last year in the federal courthouse in Central Islip, N.Y., and have denied any wrongdoing. Last fall Jeffries was placed under house arrest after posting $10 million in bail. In December, Jeffries' legal team filed an unopposed motion to determine competency to stand trial and was later granted that by the court and was ordered to be examined by Dr. Alexander S. Bardley and Dr. Cheryl Paradis. Those evaluations concluded that Jeffries is suffering from a mental disease or defect rendering him mentally incompetent to the extent that he is unable to understand the nature and consequences of the proceedings against him or to properly assist in his defense, according to his attorney Brian Bieber's filing last month. On Friday in the federal courthouse in East Islip, Justice Nusrat Choudhury ruled that Jeffries was suffering from a mental disease or defect and would be unable to understand court proceedings. Jeffries is said to meet the criteria for major neurocognitive disorder, specifically Alzheimer's disease, Lewy Body disease and the residual effects of a traumatic brain injury. His attorneys said that Jeffries requires 24/7 care to maintain his health and safety and that his cognitive deficits 'significantly impair' his ability to understand the nature and consequences of the charges or to participate in his defense 'with a reasonable degree of rational understanding.' Brad Edwards of Edwards Henderson, who is representing some of Jeffries' accusers, was not immediately available Saturday to comment, nor was Jeffries' attorney Bieber of Gray & Robinson. Representatives at Abercrombie & Fitch, which was ordered by the court to pay for Jeffries' legal defense in March, did not respond immediately to a request for comment Saturday. Best of WWD La La Anthony's Style Through the Years: Met Gala Looks, MTV Days and More Photos Emma Chamberlain's Style Through the Years: Met Gala Looks, Red Carpets and More, Photos Royals at the Met Gala Through the Years: Princess Diana in John Galliano, Queen Rania and More Photos
USA Today
03-05-2025
- USA Today
Ex-Abercrombie CEO unfit for trial on sex trafficking charges, judge rules
The former CEO of Abercrombie & Fitch is mentally unfit to stand trial on charges he and two others operated a secretive, international sex trafficking scheme, a federal judge ruled on May 2. Michael Jeffries, 80, who served as CEO of the clothing company from 1992 to 2014, along with Matthew Smith, 61, and James Jacobson, 71, were arrested in October 2024 in what prosecutors said was an organized interstate prostitution enterprise that involved transporting young, aspiring male models to events in New York and other places around the world and coercing them into having sex. Jeffries' attorneys said in April that he had dementia and would be unable to stand trial, prompting Judge Nusrat J. Choudhury of the Eastern District of New York to order a competency hearing. Choudhury ruled on May 2 that Jeffries was mentally unfit and will be hospitalized for treatment and re-evaluated for up to four months. Legal representation for Jeffries previously "vehemently denied" any wrongdoing, according to the BBC. Two forensic psychologists said in an April court filing that Jeffries has Alzheimer's disease and Lewy Body Dementia and is suffering from residual effects of a traumatic brain injury, the Columbus Dispatch, part of the USA TODAY Network, reported. In the filing, Dr. Cheryl Paradis said said Jeffries' conditions make him unable to recall key events, and he can't understand the charges against him or the legal consequences. Jeffries' attorneys claimed his condition makes it unlikely he will ever be able to stand trial because of the degenerative nature of his condition.
Yahoo
03-05-2025
- Yahoo
US court rules ex-Abercrombie CEO unfit for trial
The former chief executive of fashion brand Abercrombie & Fitch is "mentally incompetent" and currently unfit to stand trial on charges of sex trafficking and prostitution, a US court has ruled. Mike Jeffries will now be held in custody and treated in hospital for an initial period of up to four months to determine if his condition is likely to improve enough for the case to proceed. Mr Jeffries' legal team said last December he has dementia and late onset Alzheimer's disease. He is accused of using his wealth, power and status to traffic and sexually abuse vulnerable men over years - alleged crimes that could carry a life-term jail sentence. Judge Nusrat Choudhury agreed on Friday that the defendant was "suffering from a mental disease or defect", making him "unable to understand" court proceedings. The ruling followed an assessment by two medical experts - one designated by Mr Jeffries' defence team, the other chosen by prosecutors. Judge Choudhury said in a court order that Mr Jeffries would be treated in hospital for up to four months to see if he is likely to regain competency. Once a follow-up assessment is complete, the defendant could either face trial or the court will weigh up next steps. These could include dropping the criminal charges against him, or releasing him to home confinement. Mr Jeffries was arrested and charged last October along with his British partner, Matthew Smith, 61, and their middleman, James Jacobson, 72. All three deny the allegations. US prosecutors allege the men used force, fraud and coercion to make young men, many of whom were aspiring models, engage in violent and exploitative sex acts while Mr Jeffries was chief executive from at least 2008 until 2015. The charges followed a 2023 BBC documentary and ongoing podcast series that revealed the three of them benefited from a sophisticated operation in which recruiters scouted young men for sex in cities including London, New York, Paris and Marrakesh. The BBC has since revealed that more than 40 men, including Abercrombie & Fitch employees, have now come forward with civil allegations of sexual assault, drugging or rape - with claims dating back to 1992, the year Mr Jeffries started running the company. Civil trial lawyers have told the BBC their clients are dismayed at the criminal court's decision that Mr Jeffries is unfit to stand trial. "We've been speaking with our clients who are disappointed by the decision and still want justice," said Brad Edwards and Brittany Henderson, representing 26 alleged victims. Brian Bieber, Mr Jeffries' criminal defence lawyer, said his client had recently been evaluated by doctors who determined he had Alzheimer's disease, Lewy Body disease, and the residual effects of a traumatic brain injury requiring around-the-clock care, which "will almost certainly worsen over time". Dr Cheryl Paradis, the US prosecutor's medical expert, also independently assessed Mr Jeffries. According to court papers, she found he was unable to understand the nature and consequences of the proceedings against him or to properly assist in his defence. "His memory impairment almost certainly would cause him to be unable to accurately recall key events and details," Dr Paradis said, according to the court filings, "and severely limit his capacity to provide accurate and reliable information". She added: "Additionally, his inappropriate behaviour, which is a symptom of his dementia, could further interfere with his ability to maintain proper courtroom demeanour. He may blurt out self-incriminating statements or engage in erratic behaviour, which would undermine his credibility." The BBC understands that Mr Jacobson and Mr Smith could still face trial on the same sex-trafficking and prostitution charges. Alongside criminal charges, Mr Jeffries and his partner Mr Smith have been defending multiple civil lawsuits accusing them of rape, sex trafficking and assault, which they "vehemently deny". The civil lawsuits had been stayed - or legally put on pause - until the resolution of the criminal case, which takes precedence to protect Mr Jeffries' right against self-incrimination. Lawsuit accuses Abercrombie & Fitch of funding sex-trafficking operation While his criminal case remains uncertain, Mr Jeffries could still face a civil trial or reach a settlement over the allegations. If this was the case, the outcome could lead to compensation being awarded to alleged victims. "Mike Jeffries attacked these men and ruined their lives at a point when they were at their most vulnerable and chasing their dreams," said civil case lawyer, Brad Edwards. "He will still be held accountable by our lawsuit and his co-conspirators will still face the criminal justice system. "For anyone affected still in fear about coming forward, you should be reassured that his power is now totally gone". Abercrombie & Fitch is also being sued for negligence, with lawsuits claiming that it knowingly facilitated "heinous sexual crimes". The company - which also owns the Hollister brand - has previously said it was "appalled and disgusted" by Mr Jeffries' alleged behaviour. Abercombie & Fitch must pay for ex-CEO's criminal sex trafficking defence How my investigation led to sex trafficking charges against ex-Abercrombie boss
