Latest news with #ScottScott
Globe and Mail
09-07-2025
- Business
- Globe and Mail
Scott+Scott Attorneys at Law LLP Files Securities Class Action Against XPLR Infrastructure, LP f/k/a Nextera Energy Partners, LP (NYSE: XIFR)
Scott+Scott Attorneys at Law LLP ('Scott+Scott'), an international shareholder and consumer rights litigation firm, has filed a securities class action lawsuit in the United States District Court for the Southern District of California against XPLR Infrastructure, LP f/k/a Nextera Energy Partners, LP ('XPLR' or the 'Company') (NYSE: XIFR), and certain of its former and current officers and/or directors (collectively, 'Defendants'). The Class Action asserts claims under §§10(b) and 20(a) of the Securities Exchange Act of 1934 (15 U.S.C. §§78j(b) and 78t(a)) and U.S. Securities and Exchange Commission Rule 10b-5 promulgated thereunder (17 C.F.R. §240.10b‑5) on behalf of all persons other than Defendants who purchased or otherwise acquired XPLR common units between September 27, 2023 and January 27, 2025, inclusive (the 'Class Period'), and were damaged thereby (the 'Class'). The Class Action filed by Scott+Scott is captioned: James Alvrus v. XPLR Infrastructure, LP f/k/a Nextera Energy Partners, LP, et al., Case No. 3:25-cv-01755. LEAD PLAINTIFF DEADLINE ON SEPTEMBER 8, 2025 XPLR acquires, owns, and manages contracted clean energy projects in the United States, including a portfolio of contracted wind and solar power projects, as well as a natural gas pipeline. The Class Action alleges that, during the Class Period, Defendants made misleading statements and omissions regarding the Company's business, financial condition, and prospects. Specifically, Defendants failed to warn investors that: (i) XPLR was struggling to maintain its operations as a yieldco (i.e., a business that owns and operates fully-built and operational power generating projects, focused on delivering large cash distributions to investors); (ii) Defendants temporarily relieved this issue by entering into certain financing arrangements while downplaying the attendant risks; (iii) XPLR could not resolve those financings before their maturity date without risking significant unitholder dilution; (iv) as a result, Defendants planned to halt cash distributions to investors and instead redirect those funds to, inter alia, resolve those financings; (v) as a result of all the foregoing, XPLR's yieldco business model and distribution growth rate was unsustainable; and (vi) as a result, Defendants' public statements were materially false and misleading at all relevant times. The market began to learn the truth on January 28, 2025, when XPLR shocked investors by announcing that it would suspend entirely cash distributions to common unitholders and essentially abandon its yieldco model. Specifically, XPLR issued a press release announcing a 'strategic respositioning' and stating that it was 'moving from a business model that focused almost entirely on raising new capital to acquire assets while distributing substantially all of its excess cash flows to unitholders to a model in which XPLR Infrastructure utilizes retained operating cash flows to fund attractive investments.' In addition, XPLR announced that it had appointed a new CEO and CFO. On this news, the price of XPLR's common units fell from a closing price of $15.80 per unit on January 27, 2025 to a closing price of $10.49 per unit on January 29, 2025—a decline of $5.31 per unit, or nearly 35%, trading on unusually high volume. LEAD PLAINTIFF DEADLINE ON SEPTEMBER 8, 2025 If you purchased or acquired XPLR common units during the Class Period and were damaged thereby, you are a member of the 'Class' and may be able to seek appointment as lead plaintiff. If you wish to apply to be lead plaintiff, a motion on your behalf must be filed with the U.S. District Court for the Southern District of California no later than September 8, 2025. The lead plaintiff is a court-appointed representative for absent class members of the Class. You do not need to seek appointment as lead plaintiff to share in any Class recovery in the Class Action. If you are a Class member and there is a recovery for the Class, you can share in that recovery as an absent Class member. If you wish to apply to be lead plaintiff, please contact attorney Nicholas Bruno at (888) 398-9312 or at nbruno@ What Can You Do? You may contact an attorney to discuss your rights regarding the appointment of lead plaintiff or your interest in the Class Action. You may retain counsel of your choice to represent you in the Class Action. About Scott+Scott Scott+Scott is an international law firm known for its expertise in representing corporate clients, institutional investors, businesses, and individuals harmed by anticompetitive conduct or other forms of wrongdoing, including securities law and shareholder violations. With more than 100 attorneys in eight offices in the United States, as well as three offices in Europe, our advocacy has resulted in significant monetary settlements on behalf of our clients, along with other forms of relief. Our highly experienced attorneys have been recognized for being among the top financial lawyers in 2024 by Lawdragon, WWL: Commercial Litigation 2024, and Legal 500 in Antitrust Civil Litigation, and have received top Chambers 2024 rankings. In addition, we have been repeatedly recognized by the American Antitrust Institute for the successful litigation of high-stakes anticompetitive claims in the United States. To learn more about Scott+Scott, our attorneys, or complex case resolution, please visit
Yahoo
02-07-2025
- Business
- Yahoo
Visa Inc. (V), Mastercard Merchant Fees Infringe Competition Law, UK Tribunal Rules
Visa Inc. (NYSE:V) is among the Goldman Sachs Stock Portfolio: 10 Large-Cap Stocks To Buy. On Friday, a British tribunal ruled that Visa and Mastercard's default multilateral interchange fees charged to retailers breach European competition law. A close-up of a credit card being swiped on a payment terminal, reflecting the company's payments technology. The development comes as the latest round of litigation over multilateral interchange fees, which has rumbled on for decades. David Scott of the law firm Scott+Scott, which represented the claimants, described the ruling as a significant win for merchants. He also said that this was the first time that the two payment processing companies' commercial card and inter-regional multilateral interchange fees were found to infringe competition laws. According to Reuters, Visa Inc. (NYSE:V) disagreed with the decision and has sought permission to appeal against the ruling. A company spokesperson was quoted as saying the following: 'Visa continues to believe that interchange is a critical component to maintaining a secure digital payments ecosystem that benefits all parties, including consumers, merchants, and banks.' While we acknowledge the potential of V as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None.
Finextra
27-06-2025
- Business
- Finextra
UK tribunals rules Visa and Mastercard fees breach competition law
The UK's Competition Appeal Tribunal has ruled that Visa and Mastercard's multilateral interchange fees charged to retailers breach European competition law. 0 This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community. The unanimous ruling on linked lawsuits brought by merchants, marks the latest stage in a years-long dispute over card fees retailers pay to the two US payments giants. David Scott, global managing partner, Scott+Scott, which represented the claimants, told Reuters the ruling was "a significant win for all merchants who have been paying excessive interchange fees to Visa and Mastercard". Both firm's intend to appeal. A Mastercard spokesperson told Reuters: "Mastercard strongly disagrees with today's decision, which is deeply flawed, and will seek permission to appeal."
Yahoo
27-06-2025
- Business
- Yahoo
Mastercard, Visa's merchant fees breach competition law, UK tribunal rules
LONDON (Reuters) -Global payments processors Visa and Mastercard's default multilateral interchange fees which are charged to retailers infringe competition law, a London tribunal ruled on Friday in the latest round of the long-running legal saga. London's Competition Appeal Tribunal unanimously ruled that Visa and Mastercard's multilateral interchange fees breach European competition law, in a ruling in linked lawsuits brought by hundreds of merchants. David Scott, global managing partner of law firm Scott+Scott, which represented the claimants, said the ruling was "a significant win for all merchants who have been paying excessive interchange fees to Visa and Mastercard". Both Visa and Mastercard said they disagreed with the decision and intended to seek permission to appeal. A Visa spokesperson said: "Visa continues to believe that interchange is a critical component to maintaining a secure digital payments ecosystem that benefits all parties, including consumers, merchants and banks." "Mastercard strongly disagrees with today's decision, which is deeply flawed, and will seek permission to appeal," a Mastercard spokesperson said in a statement. Litigation over multilateral interchange fees, which are levied on retailers when cardholders make a transaction, has rumbled on for well over a decade in Britain and elsewhere. Scott+Scott said Friday's ruling was the first time that Visa and Mastercard's commercial card and inter-regional multilateral interchange fees had been found to infringe competition law. The liability trial which led to Friday's ruling took place in early 2024. A ruling following a further trial to determine whether any alleged overcharge was passed on by retailers to customers is pending. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
14-06-2025
- Business
- Associated Press
Scott+Scott Attorneys at Law LLP Reminds Investors of Its Current Investigation Into Compass Diversified Holdings (NYSE: CODI)
NEW YORK, June 14, 2025 (GLOBE NEWSWIRE) -- Scott+Scott Attorneys at Law LLP ('Scott+Scott'), a shareholder and consumer rights litigation firm, is investigating whether Compass Diversified Holdings ('Compass' or the 'Company') (NYSE: CODI) or certain of its officers and directors issued misleading and false statements and/or failed to disclose information material to investors in violation of federal securities laws. CLICK HERE TO RECEIVE ADDITIONAL INFORMATION ABOUT THIS POTENTIAL CLASS ACTION Compass owns and manages a diverse set of middle-market businesses, including Lugano Holdings, Inc. ('Lugano'), which designs, manufacturers, and markets luxury jewelry. On May 7, 2025, after market hours, the Company issued a press release disclaiming 'reliance on its financial statements for fiscal 2024 amid an ongoing internal investigation' into Lugano, and that the Company intends to delay the filing of its 1Q25 Form 10-Q. The press release also revealed that an ongoing investigation, led by outside counsel and a forensic accounting firm, 'preliminarily identified irregularities in Lugano's [non-Compass] financing, accounting, and inventory practices.' Lugano's founder and Chief Executive Officer resigned following the disclosure of the investigation's preliminary findings. On this news, the price of the Company's stock fell $10.70, or nearly 62%, to close at $6.55 on May 8, 2025, on unusually high volume ARE YOU A POTENTIAL CLASS MEMBER ELIGIBLE TO RECOVER? CLICK HERE If you purchased or otherwise own Compass securities and have suffered a loss, realized or unrealized, and you wish to discuss this investigation, please contact attorney Nicholas Bruno at (888) 398-9312 or at [email protected]. CLICK HERE TO FIND OUT IF YOU CAN RECOVER YOUR LOSSES About Scott+Scott Scott+Scott is an international law firm known for its expertise in representing corporate clients, institutional investors, businesses, and individuals harmed by anticompetitive conduct or other forms of wrongdoing, including securities law and shareholder violations. With more than 100 attorneys in eight offices in the United States, as well as three offices in Europe, our advocacy has resulted in significant monetary settlements on behalf of our clients, along with other forms of relief. Our highly experienced attorneys have been recognized for being among the top financial lawyers in 2024 by Lawdragon, WWL: Commercial Litigation 2024, and Legal 500 in Antitrust Civil Litigation, and have received top Chambers 2024 rankings. In addition, we have been repeatedly recognized by the American Antitrust Institute for the successful litigation of high-stakes anticompetitive claims in the United States. This may be considered Attorney Advertising. CONTACT: Nicholas Bruno Scott+Scott Attorneys at Law LLP 230 Park Avenue, 24th Floor, New York, NY 10169 (888) 398-9312 [email protected]
