Latest news with #RichardUihlein
The Guardian
29-05-2025
- Business
- The Guardian
Trump tariffs derailed by law firm that received money from his richest backers
Donald Trump's tariff policy was derailed by a libertarian public interest law firm that has received money from some of his richest backers. The Liberty Justice Center filed a lawsuit against the US president's 'reciprocal' tariffs on behalf of five small businesses, which it said were harmed by the policy. The center, based in Austin, Texas, describes itself as a Libertarian non-profit litigation firm 'that seeks to protect economic liberty, private property rights, free speech, and other fundamental rights'. Previous backers of the firm include billionaires Robert Mercer and Richard Uihlein, who were also financial backers of Trump's presidential campaigns. Mercer, a hedge fund manager, was a key backer of Breitbart News and Cambridge Analytica, pouring millions into both companies. He personally directed Cambridge Analytica to focus on the Leave campaign during the UK's Brexit referendum in 2016 that led to the UK leaving the European Union. For its lawsuit against Trump's tariffs, the Liberty Justice Center gathered five small businesses, including a wine company and a fish gear and apparel retailer, and argued that Trump overreached his executive authority and needed Congress's approval to pass such broad tariffs. The other group who sued the Trump administration over its tariffs was a coalition of 12 Democratic state attorney generals who argued that Trump improperly used a trade law, the International Emergency Economic Powers Act (IEEPA), when enacting his tariffs. In such a polarized time in US history, it may feel odd to see a decision celebrated by liberal and conservatives. But Trump's tariffs have proven controversial to members of both parties, particularly after Wall Street seemed to be put on edge by the president's trade war. The US stock market dipped down at least 5% after Trump announced the harshest of his tariff policies. Recovery was quick after Trump paused many of his harshest tariffs until the end of the summer. Sign up to This Week in Trumpland A deep dive into the policies, controversies and oddities surrounding the Trump administration after newsletter promotion Stocks started to rally on Thursday morning after the panel's ruling. The judges said that the law Trump cited when enacting his tariffs, the IEEPA does not 'delegate an unbounded tariff authority onto the president'. While the ruling does not impact specific tariffs on industries such as aluminum and steel, it prevents the White House from carrying out broad retaliatory tariffs and its 10% baseline 'reciprocal' tariff. The White House is appealing the ruling, which means the case could go up to the US supreme court, should the high court decide to take on the case. Members of both groups who sued the Trump administration celebrated the ruling. Jeffrey Schwab, senior counsel for the Liberty Justice Center, said in a statement that it 'affirms that the president must act within the bounds of the law, and it protects American businesses and consumers from the destabilizing effects of volatile, unilaterally imposed tariffs'. Oregon's Democratic attorney general Dan Rayfield, who helped the states' lawsuit, said that it 'reaffirms that our laws matter'. In a statement, Victor Schwartz, founder of VOS Selections, a wine company that was represented by the Liberty Justice Center in the suit, said that the ruling is a 'win' for his business. 'This is a win for my small business along with small businesses across America – and the world for that matter,' he said. 'We are aware of the appeal already filed and we firmly believe in our lawsuit and will see it all the way through the United States Supreme Court.'
Yahoo
08-03-2025
- Business
- Yahoo
While insiders own 20% of Galectin Therapeutics Inc. (NASDAQ:GALT), individual investors are its largest shareholders with 54% ownership
Galectin Therapeutics' significant individual investors ownership suggests that the key decisions are influenced by shareholders from the larger public A total of 25 investors have a majority stake in the company with 44% ownership Insiders have bought recently A look at the shareholders of Galectin Therapeutics Inc. (NASDAQ:GALT) can tell us which group is most powerful. And the group that holds the biggest piece of the pie are individual investors with 54% ownership. Put another way, the group faces the maximum upside potential (or downside risk). Meanwhile, individual insiders make up 20% of the company's shareholders. Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. Let's take a closer look to see what the different types of shareholders can tell us about Galectin Therapeutics. See our latest analysis for Galectin Therapeutics Many institutions measure their performance against an index that approximates the local market. So they usually pay more attention to companies that are included in major indices. We can see that Galectin Therapeutics does have institutional investors; and they hold a good portion of the company's stock. This can indicate that the company has a certain degree of credibility in the investment community. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. They too, get it wrong sometimes. It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. So it is worth checking the past earnings trajectory of Galectin Therapeutics, (below). Of course, keep in mind that there are other factors to consider, too. It would appear that 9.4% of Galectin Therapeutics shares are controlled by hedge funds. That's interesting, because hedge funds can be quite active and activist. Many look for medium term catalysts that will drive the share price higher. Richard Uihlein is currently the largest shareholder, with 16% of shares outstanding. 10x Capital Management, LLC is the second largest shareholder owning 9.4% of common stock, and The Vanguard Group, Inc. holds about 3.4% of the company stock. Additionally, the company's CEO Joel Lewis directly holds 1.4% of the total shares outstanding. On studying our ownership data, we found that 25 of the top shareholders collectively own less than 50% of the share register, implying that no single individual has a majority interest. While it makes sense to study institutional ownership data for a company, it also makes sense to study analyst sentiments to know which way the wind is blowing. While there is some analyst coverage, the company is probably not widely covered. So it could gain more attention, down the track. The definition of company insiders can be subjective and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it. Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. However, on some occasions too much power is concentrated within this group. Our most recent data indicates that insiders own a reasonable proportion of Galectin Therapeutics Inc.. Insiders have a US$21m stake in this US$102m business. This may suggest that the founders still own a lot of shares. You can click here to see if they have been buying or selling. The general public -- including retail investors -- own 54% of Galectin Therapeutics. This size of ownership gives investors from the general public some collective power. They can and probably do influence decisions on executive compensation, dividend policies and proposed business acquisitions. It's always worth thinking about the different groups who own shares in a company. But to understand Galectin Therapeutics better, we need to consider many other factors. To that end, you should learn about the 6 warning signs we've spotted with Galectin Therapeutics (including 5 which shouldn't be ignored) . Ultimately the future is most important. You can access this free report on analyst forecasts for the company. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
