If you purchased shares of Exela Technologies, Inc. ( NASDAQ: XELA) have certain options and you should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1 (858) 779 - 1554. 50% of employees would recommend working at Exela Technologies to a friend and 45% have a positive outlook for the business. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Exela Technologies (XELA) Stock Price Performance License Error: Access from crawling bot Q-Factor Score View score details Leveraging Big Data multi-factor models, the Q-Factor Score is assigned. Good time off benefits, ability to transfer to multiple locations, You have to beg for raise , hard to find opportunities to move up in company. The information is provided as a public service. Exela partners with customers to improve user experience and quality through operational efficiency. 1 Twitter 2 Facebook 3RSS 4YouTube Click The Information and Transaction Processing Solutions segment . Phone: +1-(858)-779-1554 Exela Technologies 47 2.9 Write a review Snapshot Why Join Us 2.7K Reviews 2.3K Salaries 111 Jobs Benefits 169 Q&A Interviews 3 Photos Exela Technologies Employee Reviews Review this company Job Title All Location United States 2,298 reviews Ratings by category 3.0 Work-Life Balance 2.7 Pay & Benefits 2.5 Job Security & Advancement 2.6 Management The investors say that Exela told them 90% of its revenue was predictable, when in reality about 20% was unpredictable. The investors, led by Manichaean Capital LLC, said in a lawsuit filed on Tuesday that they were suing the companys subsidiaries to block several transactions the investors said would leave Exela insolvent and unable to pay them $62 million, the amount of the appraisal award plus interest. Thank you for sharing. Shareholders Foundation, Inc.1-858-779-1554, Email | Web Industry Glassdoor has 1,004 Exela Technologies reviews submitted anonymously by Exela Technologies employees. Tex., No. ), Del. The Human Resources Department is very accommodating and help you step by step if you need help. One of the investors' attorneys, Steven Davidson of Steptoe & Johnson, said on Wednesday, "We will use all lawful means to collect on our judgment against Excela and to collect on those who are receiving payments, which we believe are fraudulent transfers.". The plaintiff claims that 05-16-2022 | Business, Economy, Finances . 5. Exela Enterprise Solutions Inc. defeated portions of a lawsuit challenging its 401 (k) plan management, but it must face claims targeting the plan's administrative fees and share classes, according to a Monday ruling by the District of Connecticut. Investors allege the business process automation company misled them about how much of its revenue was predictable. Waterdrop Inc. Unsponsored ADR's revenues are expected to be $107.54 million, down 11.1% from the year-ago quarter. According to the order, Reynolds caused Exela's failure to identify and disclose two of those transactions in one 2019 quarterly filing. Investors allege the business process automation company misled them about how much of its revenue was predictable. Exela Technologies, Inc. Shares have lost about 98.4% since the beginning of the year versus the S&P 500's decline of -16.2%. EXELA TECHNOLOGIES, INC. CLASS ACTION ALERT: Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the United States District Court for. On August 5, 2021, a second amended Complaint was filed and the Defendants filed a Motion to Dismiss the second amended Complaint on September 3, 2021. Mandatory overtime for 10 weeks straight on graveyard shift was horrendous on the body and mind. Log in to access all of your BLAW products, Delaware High Court Upholds Appraisal Ruling That Bucked Trend, Adequately pleads acted with severe recklessness, If past complaints other issues fixed not addressed. Read employee reviews and ratings on Glassdoor to decide if Exela Technologies is right for you. This lawsuit is for anyone who acquired securities in Exela Technologies, Inc. (NASDAQ: XELA) from March 16, 2018 through March 16, 2020. Caryn used to work full-time on Roloff Farms for more than a decade. Managing teams of recruiters has never been more efficient! Explore the Exela Smart Office Suite The Latest From Exela . Based in Irving, TX, Exela Technologies is an industry leader with 22,000 employees and an annual revenue of $1.3B. The order finds that Exela also failed to properly identify, account for and, in one quarter, disclose certain related party transactions with an entity that was controlled by Company leadership. On Fishbowl, you can share insights and advice anonymously with Exela Technologies employees and get real answers from people on the inside. What our customers are saying. SPEAK WITH AN ATTORNEY : 310-301-3335| Email: info@schallfirm.com. Exela Technologies Inc. must face accusations it made misleading statements about revenue predictability after a federal judge in Texas found investors new allegations as to mental state sufficient to move forward. los angeles, march 23, 2020 the schall law firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against exela technologies, inc. ("exela" or "the company") (nasdaq: xela) for violations of 10 (b) and 20 (a) of the securities exchange act of 1934 and rule 10b-5 promulgated thereunder by the u.s. Learn more about a Bloomberg Law subscription. By submitting your information, you acknowledge that this form does not create an attorney-client relationship between yourself and The Schall Law Firm. On March 23, 2020, a lawsuit was filed against Exela Technologies, Inc. over alleged violations of Federal Securities Laws. I preferred to work remote. The SEC also announced settled charges against Exela's former Chief Financial Officer, James G. Reynolds, with causing Exela's . (UPDATE: This story has been updated with a comment from a Steptoe & Johnson attorney representing the investors. In addition, forward-looking statements provideExela'sexpectations, plans or forecasts of future events and views as of the date of this communication. The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. Exela Technologiesis a business process automation (BPA) leader, leveraging a global footprint and proprietary technology to provide digital transformation solutions enhancing quality, productivity, and end-user experience. files: 5. Formerly a billion-dollar company, this has reduced Exela's market cap to around $150 million . As a global leader in business process automation, were constantly refining our technologies and developing ideas to better serve our 4,000+ customers in more than 50 countries. She was positioned first as a manager and then as Matt's personal assistant. Exela Technologies, Inc. , which belongs to the Zacks Technology Services industry, posted revenues of $264.04 million for the quarter ended September 2022, missing the Zacks Consensus Estimate by 5.94%. It is not intended as legal advice and should not be relied upon. Take 30 seconds to, Exela Technologies has an overall rating of 3.1 out of 5, based on over 1,004 reviews left anonymously by employees. Find out how business process automation tools can enhance your employee and visitor experience, optimize space and energy usage, and streamline daily processes. Find out more about how we use your information in our privacy policy and cookie policy. They also have the best educational program. The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. Read more about our company here, or reach out to us today to start your digital transformation. San Diego, CA -- (SBWIRE) -- 08/26/2022 -- The Shareholders Foundation announced an update in the lawsuit that is pending for certain investors in Exela Technologies, Inc. (NASDAQ: XELA). We, Yahoo, are part of the Yahoo family of brands. I like what they're doing here. So, the shares are expected to perform in line with the market in the near future. The Schall Law Firm The Shareholders Foundation, Inc. is not a law firm. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Press question mark to learn the rest of the keyboard shortcuts The SEC's order finds that Exela violated Sections 13(a), 13(b)(2)(A) and 13(b)(2)(B) of the Exchange Act and Rules 13a-1, 13a-13,13a-15(a) and 12b-20 thereunder, and that Reynolds caused Exela's violations of Section 13(a) of the Exchange Act and Rules 13a-13 and 12b-20 thereunder. The fundamental outlook for the IT . You may redact your account numbers from your uploaded documents. Any information you submit will be maintained as confidential. You can reach us at connect@exelaonline.com. Glancy Prongay & Murray LLP represents the investors as lead counsel. The court does not reach, and expresses no view about, whether plaintiffs have rectified the deficiencies in their other theories, Fitzwater said. Find out more about salaries and benefits at Exela Technologies. Michael Daniels Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Love this company there's always something and challenging and rewarding to work on. Investors say they're owed more than $62 million for appraisal judgment A group of investors have again sued affiliates of Exela Technologies Inc in Delaware to recoup an unpaid 2020 appraisal. Exela Technologies Inc does not currently pay a dividend. Pros & Cons are excerpts from user reviews. Looking at the most recent complaint as a whole, the investors have pleaded with the required degree of particularity that defendants acted at least with severe recklessness when misrepresenting that Exela had 90% revenue visibility, the opinion said. This company is expected to post quarterly earnings of $0.03 per share in its upcoming report, which represents a year-over-year change of +115.8%. All quotes delayed a minimum of 15 minutes. Through cloud-enabled platforms, built on a configurable stack of automation modules, and over 19,000 employees operating in 23 countries,Exelarapidly deploys integrated technology and operations as an end-to-end digital journey partner. The SEC's investigation was conducted by Lesley Atkins and Natalie Lentz, and supervised by Jeff Leasure, Kristen Dieter, and Mark Cave. Were still collecting data to inform categories such as Age, Disability, Sexual Orientation, and Veteran Status. Exela Technologies has an overall rating of 3.1 out of 5, based on over 1,004 reviews left anonymously by employees. The SEC also announced settled charges against Exela's former Chief Financial Officer, James G. Reynolds, with causing Exela's reporting violations in one quarter relating to two related party transactions. Without admitting or denying the SEC's findings, Exela and Reynolds have agreed to cease-and-desist orders and to pay civil money penalties in the amounts of $175,000 and $10,000, respectively. The Novitex Business Combination was accounted for as a reverse merger for which SourceHOV was determined to be the accounting acquirer. Were a little short on data, but you can help. 2020-0970. By clicking Accept all you agree that Yahoo and our partners will process your personal information, and use technologies such as cookies, to display personalised ads and content, for ad and content measurement, audience insights, and product development. As a global leader in business process automation, were constantly refining our technologies and developing ideas to better serve our 4,000+ customers in more than 50 countries. Accepted file types: xls, xlsx, doc, pdf, jpg, jpeg, Max. The case is Shen v. Exela Techs. for 1+3, enter 4. On December 19, 2022, the SEC announced a settled enforcement action against Exela Technologies, Inc, for accounting, financial reporting and controls deficiencies, including its failure to . 3:20-cv-00691, motion to dismiss denied 1/21/22. Counsel information for Exela was not immediately known. There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Exela Technologies, Inc. is an American business process automation ("BPA") company. Freshfields Bruckhaus Deringer LLP > The Legal 500 Rankings Dispute resolution > International arbitration Tier 1 Freshfields Bruckhaus Deringer LLP's international arbitration group strikes the right note with its 'experienced, responsive and dedicated lawyers', who are capable of 'distilling very complex matters with international and national implications Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Show your support with exclusive co-branded gear now available in the Exela Shop. Purchase Lawsuit Report. Our Standards: The Thomson Reuters Trust Principles. December 19, 2022 - The Securities and Exchange Commission today announced settled charges against Exela Technologies, Inc., an IT company headquartered in Irving, Texas, for reporting, controls, and recordkeeping violations. We work hard to meet expectations like yours. You can also reach us through the firms website atwww.schallfirm.com, or by email atbrian@schallfirm.com. The Schall Law Firm is committed to protecting the privacy of confidential information. IRVING, Texas, Nov. 22, 2021 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. ("Exela" or "the Company") (NASDAQ: XELA), a global business process. NEW YORK, March 23, 2020 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, announces it has filed a class action lawsuit on behalf of purchasers of the securities of Exela . Fax: +1-(858)-605-5739 Revolutionizing Human Resource Management. Presently, Exela Technologies Inc. shares are logging -99.55% during the 52-week period from high price, and -7.54% . Exelas business process automation (BPA) software, intelligent workplace systems, and technology experts come together to produce transformational results. Company seems to be struggling to find it's footing, so I worry about job security. The lawsuit alleges that the Company and certain of its executives violated federal law. We are glad you took the time to share your experience. Join the case to recover your losses. They are modern with the best product and services. They are not authored by Glassdoor. Employees also rated Exela Technologies 3.1 out of 5 for work life balance, 2.9 for culture and values and 2.9 for career opportunities. Sierra Jackson reports on legal matters in major mergers and acquisitions, including deal work, litigation and regulatory changes. This compares to year-ago revenues of $279.23 million. Exela Technologies, Inc. For information regarding the content of this press release please contact the media relations contact listed above directly. This action is necessary to prevent Defendants from fraudulently transferring away liquid funds that would be used to pay the judgment before the Court once again orders Defendants to pay the judgment, the investors said in Tuesdays complaint. Exela Technologies Signs Strategic Partnership with Quintes Global. file size: 32 MB, Max. Read More. According to the SEC's order, from mid-2017 through 2019, Exela failed to properly account and report for liabilities it incurred when it was sued by minority shareholders who dissented from a 2017 merger and sought the fair value of their shares. Inc., 2022 BL 20736, N.D. Don't Forget about Non-Digital Marketing! Exelas recent financial statements were riddled with errors that would require restatement to fix. 310-301-3335. E.g. Unified on a single, cloud-hosted platform, Digital Now is a suite of solutions built to accelerate your digital transformation. If you are a shareholder who suffered a loss, click here to participate. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. Investigating Securities Claims on Behalf of XELA Investors Who Suffered Losses Vincent KondaveetiE:vincent.kondaveeti@exelatech.comT: 929-620-1849, Mary Beth BenjaminE:IR@exelatech.comT: 646-277-1216. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. December 19, 2022 - The Securities and Exchange Commission today announced settled charges against Exela Technologies, Inc., an IT company headquartered in Irving, Texas, for reporting, controls, and recordkeeping violations. Squatrito also declined to dismiss claims that the plan paid excessive administrative fees to Transamerica for record keeping services. | Profile, Source: Shareholders Foundation, Inc. The plaintiff claims that between March 16, 2018 and March 16, 2020, the defendants made false and/or misleading statements and/or failed to disclose that Exela's previously issued financial statements for the twelve months ended December, 31, 2017 and December 31, 2018, and the quarterly statements for the three and nine months ended September 30, 2019 contained numerous accounting errors, could not be relied upon, and required restatement, and that as a result, defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. 7 Dec 2022 - Talent Acquisition Lead in Pune Recommend CEO Approval Business Outlook Pros You will get the necessary exposure, support, opportunity and guidance to grow in your career. These figures are adjusted for non-recurring items. Law firm pricing professionals in 2023: Examining compensation & team structures, How to improve handling of law firm rate increase requests through data: A view from in-house counsel, 2022 saw law firms move past the pandemic into a more client-focused service environment, Law firms ESG practice continues to drive economic growth and better alignment with clients, See here for a complete list of exchanges and delays, Suit follows May ruling allowing investors to sue Exela, subsidiaries for payment, Investors say they're owed more than $62 million for appraisal judgment. Exela is a business process automation (BPA) leader, leveraging a global footprint and proprietary technology to provide digital transformation solutions enhancing quality, productivity, and. On August 11, 2020, an amended complaint was filed, and on October 12, 2020, the defendants filed a Motion to Dismiss the amended Complaint. While Exela had disclosed the shareholders' claim in its SEC filings while the suit was pending, Exela erroneously failed to accrue for any payment it would have to make to those dissenting shareholders. This quarterly report represents an earnings surprise of -119.57%. On-Demand Training Ransomware response Demystifying ESG Cyber risks Developing an effective fraud response plan In this course, you will be fully immersed in a real-life scenario that is based on a true-to-life case of internal fraud, brought to light by a whistleblower, and perpetrated by a senior executive. Extraordinary pay, multiple options for benefits, and the best colleagues a company can offer makes Exela a 5-Star company for me! Find out more about, 50% of Exela Technologies employees would recommend working there to a friend, Get started with your Free Employer Profile, Mentally draining work environment with no sense of consistency, Software Development Engineer in Test Career. Having problems? Their latest complaint satisfied heightened pleading requirements for securities fraud concerning at least one theory of liability, so the suit can proceed, the U.S. District Court for the Northern District of Texas said. Investors who purchased the Companys securities between March 16, 2018 and March 16, 2020, inclusive (the Class Period), are encouraged to contact the firm before May 22, 2020. Michael Daniels Find a Great First Job to Jumpstart Your Career, Getting a Job Is Tough; This Guide Makes it Easier, Climb the Ladder With These Proven Promotion Tips, A Guide to Negotiating the Salary You Deserve. About The Shareholders Foundation Analysts expect adjusted earnings to reach $-3.415 per share for the current fiscal year. Powerful HR solutions to accelerate performance and business growth. A group of investors have again sued affiliates of Exela Technologies Inc in Delaware to recoup an unpaid 2020 appraisal award related to the $2.8 billion merger that created the business management technology company. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. Exela Technologies, Inc. , which belongs to the Zacks Technology Services industry, posted revenues of $264.04 million for the quarter ended September 2022, missing the Zacks Consensus Estimate. Click to get this free reportExela Technologies, Inc. (XELA) : Free Stock Analysis ReportWaterdrop Inc. Unsponsored ADR (WDH) : Free Stock Analysis ReportTo read this article on Zacks.com click here. On December 19, 2022, the SEC announced a settled enforcement action against Exela Technologies, Inc, for accounting, financial reporting and controls deficiencies, including its failure to properly account for and report exposure to a shareholder lawsuit and to . They also properly pleaded that the inference of fraud is cogent and at least as compelling as any opposing inference of nonfraudulent intent., The investors fixed up their complaint by bolstering the allegations about what defendants knew and when they knew it, Fitzwater said. Exela Technologies, Inc. - toxic work environment - poor management. Price records that include history of low and high prices in the period of 52 weeks can tell a lot about the stock's existing status and the future performance. Certain statements included in this press release are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. June 25, 2021 13:00 ET We are glad that you enjoyed being a part of our team. With decades of experience operating mission-critical processes,Exelaserves a growing roster of more than 4,000 customers throughout 50 countries, including over 60% of the Fortune 100. IRVING, Texas, June 25, 2021 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. ("Exela" or "the Company") (NASDAQ: XELA), a global business process automation (BPA) leader, today announced that. According to anonymously submitted Glassdoor reviews, Exela Technologies employees rate their compensation and benefits as 2.8 out of 5. Thank you for your feedback. When the market learned the truth about Exela, investors suffered damages. mail@shareholdersfoundation.com The investors said in the newest complaint that Exelas plans to distribute $225 million in cash to its noteholders and restructure its debt, which the company announced in October, will make the company insolvent. December 20, 2022. Over the last four quarters, the company has not been able to surpass consensus EPS estimates. Click Manage settings for more information and to manage your choices. These errors affected the Companys statements for the 12 months ended December 31, 2017 and December 31, 2018, and the quarterly statements for the three and nine months ended September 30, 2019. Direct manager was great! court OKs investors payout fight over $2.8 bln Exela merger. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. If you purchased shares of Exela Technologies, Inc. (NASDAQ: XELA) have certain options and you should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1 (858). Exela is way ahead of its time in industry. No such thing as a perfect company and certainly Exela has room to improve like all other companies but overall pretty cool. We are glad you took the time to share your experience. I have worked for the company for several years and received multiple promotions. For the investors: Steven Davidson and Michael Baratz of Steptoe & Johnson; Sam Lieberman of Sadis & Goldberg. Exela is a business process automation (BPA) leader, leveraging a global footprint and proprietary technology to provide digital transformation solutions enhancing quality, productivity, and end-user experience. Integrated solutions to execute end-to-end marketing approach. The investors' complaint filed on Tuesday stems from a related suit set to go to trial in October 2022, in which Slights allowed the group of investors to go after Exela and its subsidiaries for the appraisal judgment. 3111 Camino Del Rio North - Suite 423 Exela Technologies Inc. (XELA) full year performance was -99.53%. Inc. - toxic work environment - poor Management the plan paid excessive administrative fees to Transamerica record. 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