Latest news with #U.S.Army
Business Wire
4 hours ago
- Business
- Business Wire
Securities Fraud Investigation Into Red Cat Holdings, Inc. (RCAT) Announced – Investors Who Lost Money Urged to Contact The Law Offices of Frank R. Cruz
LOS ANGELES--(BUSINESS WIRE)-- The Law Offices of Frank R. Cruz announces an investigation of Red Cat Holdings, Inc. ('Red Cat' or the 'Company') (NASDAQ: RCAT) on behalf of investors concerning the Company's possible violations of federal securities laws. IF YOU ARE AN INVESTOR WHO LOST MONEY ON RED CAT HOLDINGS, INC. (RCAT), CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING A CLAIM TO RECOVER YOUR LOSS. What Is The Investigation About? In March 2022, Red Cat announced that its subsidiary Teal Drones, Inc. ('Teal') had been selected to compete in Tranche 2 of the U.S. Army's Short Range Reconnaissance Program of Record (the 'SRR Program'). On July 27, 2023, Red Cat released its fiscal year 2023 financial results and revealed that its Salt Lake City Facility could only produce 100 drones per month and that construction of the facility was only 'substantially completed' and, while it could potentially reach a production capacity of one thousand drones per month over the next two to three years, it would require additional capital investments. On this news, Red Cat's stock price fell $0.10, or 8.9%, to close at $1.02 per share on July 28, 2023, thereby injuring investors. Then, on September 23, 2024, Red Cat released its first quarter fiscal 2025 financial results, missing consensus estimates and disclosing that it had spent 'the past four months . . . retooling [the Salt Lake City Facility] and preparing for high volume production[,]' while admitting that a 'pause in manufacturing of Teal 2 and building our Army prototypes impacted Teal 2 sales' because it 'couldn't produce and sell Teal 2 units while retooling [its] factory.' On this news, Red Cat's stock price fell $0.80, or 25.3%, over two consecutive trading days to close at $2.36 per share on September 25, 2024. Then, on November 19, 2024, Red Cat announced that it had won the SRR contract, stating that it was worth potentially hundreds of millions of dollars. However, on January 16, 2025, Kerrisdale Capital published a report alleging, among other things, that Red Cat had overstated that value of the SRR Contract and that it was worth approximately $20-25 million, based on U.S. Army budget documents. On this news, Red Cat's stock price fell $2.35, or 21.5%, over two consecutive trading days to close at $8.56 per share on January 17, 2025, thereby injuring investors further. Contact Us to Participate or Learn More: If you purchased Red Cat securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us: The Law Offices of Frank R. Cruz 2121 Avenue of the Stars, Suite 800 Century City, California 90067 Call us at: 310-914-5007 Email us at: info@ Visit our website at: Follow us for updates on Twitter at If you inquire by email, please include your mailing address, telephone number, and number of shares purchased. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Yahoo
5 hours ago
- General
- Yahoo
Militarizing America's southern border is a slippery slope
A mere four months into the second Trump administration, the U.S. military has been hurled into an unprecedented and dangerous role as a police force along designated stretches of the U.S.-Mexico border. This has not received as much attention as other components of the administration's immigration policies, but it will come at great cost to American principles and security. This uncharted territory for the U.S. military began almost immediately after President Donald Trump declared a national emergency at the southern border on Jan. 20 and directed the Defense Department to '[obtain] operational control.' Additional units began arriving at the border, and the number of service members deployed to the border will reach almost 10,000 once an additional 1,115 active duty troops arrive. Meanwhile, high-end assets designed to track and defend against sophisticated adversaries were repositioned into the area, a temporary holding area for migrants was established at Naval Station Guantanamo Bay and military transport aircraft removed migrants from the United States. Pentagon approves 1,100 more troops for southern border mission Each deployment and announcement has been accompanied by visual reminders that the U.S. military now has an increased — and unprecedented — responsibility for securing the southern border. Border security is inextricably linked to national security and the territorial integrity of the United States, and previous administrations have also supplemented Department of Homeland Security missions with DOD support. But the U.S. military's role in border security has historically been extremely limited, for important reasons. Since Jan. 20, the border has swiftly militarized in a manner that is unsustainable yet politically advantageous. As such, the U.S. military will find it hard to unwind its participation. Deployments to the border come at the expense of other operations and exercises that only the military can perform to defend the country, including deployments to the Indo-Pacific designed to deter Chinese aggression. The Department of Homeland Security will assume the DOD well is never dry, and continue to ask DOD for support that eclipses previous asks and pushes boundaries in alarming ways. This is the entire point of subsequent presidential orders that probe the seam between the roles that U.S. troops traditionally fill at the border, such as detection and monitoring, and those assigned to civilian law enforcement agencies (LEAs), with their apprehension and detention authorities. An April 11 presidential memorandum paved the way for the U.S. Army to designate two stretches of land contiguous with U.S. Army installations, Fort Huachuca and Fort Bliss, as new 'national defense areas' where the military can apprehend trespassers and hand them to LEAs. Thus, through a series of memos and delegations of authority, U.S. service members have been thrust into apprehending and temporarily detaining migrants within the new zones. This effectively sidesteps the Posse Comitatus Act (PCA), which prevents the military from directly engaging in civilian law enforcement, except under certain limited circumstances. PCA is a firewall against the U.S. military morphing into a force for internal security or suppression of Americans. The administration's legal end-run is being met with some initial skepticism in the courts, with a judge dismissing trespassing charges against immigrants in these zones. But notwithstanding this relief, service members are being asked to police in their own country, albeit not against Americans. This is simply not a role for which they are trained and equipped. Nor do the facts on the ground support this mission creep. Border crossings, which were dropping at the end of the Biden administration, are reportedly down to historic lows, according to the Pentagon. A smaller military footprint could now support DHS at the border. Instead, we may see these troop deployments, expanded authorities and blurred military-police roles become the norm at the border — or stretched from the border into the interior of the country. At that point, the American people may find themselves wondering when and how they should have spoken out. Caroline Zier served as the deputy chief of staff to former Defense Secretary Lloyd Austin during the Biden administration.
Chicago Tribune
6 hours ago
- Business
- Chicago Tribune
New Winfield town marshal looks foward to move to remodeled police station
Robert K. Byrd, a little more than one month into his new job as Winfield's new town marshal, is looking forward to the future including a move into a newly remodeled police department. 'The first month has been busy and fast-paced and we've done a deep dive into the neighborhoods to do a lot of listening and learning,' Byrd said. Byrd, a Chesterton resident, was sworn in as Winfield's new town marshal at the April 22 Town Council meeting and started his work immediately afterward. In addition to his new position as town marshal, Byrd will also be overseeing the move into a new police department. The present police department, at 10645 Randolph St. in the Winfield Municipal Complex, will be relocated to 10688 Randolph St., in the former People's Bank. 'Hopefully we will be making the final move by sometime next week,' he said. He said plans are to hold an official opening day event which residents would be invited to attend. During his update at the Town Council meeting on Tuesday, Byrd complimented his department of eight, not including himself, calling them 'dedicated officers who genuinely care about Winfield.' Plans also include changing the status of the police department from marshal-based to metropolitan-based, he said. Byrd, whose salary was prorated starting from April 22, will receive $95,000 this year; $96,900 in 2026; $98,38 in 2027 and $100,814 in 2028, according to an agreement unanimously approved by the Town Council. Byrd is a 50-year law enforcement professional who began his career as a military police officer in the U.S. Army. He replaced former Town Marshal Dan Ball who resigned in late January. Ball was sworn in as Winfield's first town marshal on Aug. 26, 2014, and was instrumental in starting up the new police department a month later. Ball was placed on paid administrative leave, then later resigned, following a Jan. 10 meeting with two members of the town council — Councilman Zack Beaver, R-at-large, and Councilman Tim Clayton, R-at-large. In other business, the Town Council on Tuesday opened two bids received for its 2025 Community Crossings Match Grant Road Project. The bids included a total of $1.8 million from Rieth-Riley and $1.7 million from Milestone Contractors. The bids were taken under advisement but sent to both the engineering and legal departments for review. The Town Council agreed to allow Town Council President Zack Beaver to sign off on the lowest, responsible bid after review given the warm weather timeline. Roads that are part of the road maintenance project are: 104th Avenue, from Pike Street to Randolph Street; 106th Avenue, from Newton Avenue to Pike Street; 103rd Avenue, from Nicklaus Street to where it dead ends; 105th Avenue, from Benton Street to Dearborn Street; 105th Lane, from Dearborn Street to Green Place; Green Place, from 190 feet north of 109th Avenue to 105th Lane; Benton Street, from 109th Avenue to 105th Court; and Lawrence Drive from, 112th Avenue to 110th Lane.
Hypebeast
8 hours ago
- Lifestyle
- Hypebeast
Maharishi & Birkenstock's Mogami Terra Tech Sandal Gets a "Military-Grade Construction"
Maharishihas brought its military-inspired language toBirkenstock's Mogami Terra model, drawing references from design technologies introduced by the U.S. Army in the 1960s. The campaign, shot by London-born photographer Tyrone Lebon, shows the model across outdoor and urban environments to highlight the shoe's versatility and functional design features. Central to the design is the all-new feature inspired by the M.A.L.I.C.E. (Modified All-Purpose Lightweight Individual Carrying Equipment) system, boasting a detachable crossbody strap and a double carabiner to facilitate easy carrying for barefoot breaks and stowing for travel. For added utility, the Mogami Terra Tech's straps feature a quick-release buckle with a combination of suede and nylon webbing. On the bottom, molded polyurethane sole offers an all-weather upgrade to Birkenstock's signature anatomical footbed. Along with a sculpted footbed and technical embellishments at the strap, the collaborators additionally offer split-toe tabi socks in two colorways for cross-climate wear. In olive and black, the collection will also include the BIRKENSTOCK MAHARISHI M.A.L.I.C.E. backpack, featuring 3D external pouches, hidden side pockets, and an expandable design for up to 50% extra height extension. Additionally, the bag boasts quilted lining, suspended laptop pocket, and quick-release buckles. The Maharishi x Birkenstock collection will launch on May 30 at theMaharishiandBirkenstcokweb stores, as well as at Maharishi's London and New York locations.
Yahoo
8 hours ago
- General
- Yahoo
Man accused of throwing Molotov cocktail at Army tank in Florida
Florida officials charged a Minnesota man with attempted arson of federal property and possession of a Molotov cocktail by a convicted felon. On February 14, Trang Johnny Nha Phan, 25, attempted to set fire using a Molotov cocktail to a M-60 A-3 tank owned by the U.S. Army, according to a press release Tuesday from the U.S. Attorney's Office of the Middle District of Florida. The release didn't state where the alleged arson took place, other to say it happened within the Florida district. A report from WWSB ABC7 in Sarasota, however, said Phan's arrest came after the Molotov cocktail was thrown at a memorial tank on display outside a Veterans of Foreign Wars post. The quartermaster for the post told ABC7 that he witnessed the accused throw the incendiary device at the tank, but the bottle did not break and it rolled away from the tank without causing any damage. At the time, Phan had been convicted for threats of violence and possessing three grams or more of heroin, prosecutors say. Court records show Phan had been held in the Sarasota County Jail and pleaded not guilty to the charges in Tampa federal court on May 16. A trial is set for the week of July 7. If convicted, he faces a minimum of 35 years and up to 65 years in federal prison. Federal officials have also notified Phan they intend to seize assets that are traceable to the offense. The case is part of Operation Take Back America, an initiative using resources from the Department of Justice to 'repel the invasion of illegal immigration, achieve the total elimination of cartels and transnational criminal organizations, and protect our communities from the perpetrators of violent crime.'
