EW ANNOUNCEMENT: Kessler Topaz Meltzer & Check, LLP Notifies Investors of a Class Action Lawsuit Against Edwards Lifesciences Corporation
RADNOR, Pa., Nov. 23, 2024 (GLOBE NEWSWIRE) — The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed in the United States District Court for the Central District of California against Edwards Lifesciences Corporation (“Edwards”) EW on behalf of investors who purchased or otherwise acquired Edwards securities between February 6, 2024 and July 24, 2024, inclusive (the “Class Period”) The lead plaintiff deadline is December 13, 2024.
CONTACT KESSLER TOPAZ MELTZER & CHECK, LLP:
If you suffered Edwards losses, you may CLICK HERE or go to: https://www.ktmc.com/new-cases/edwards-lifesciences-corporation?utm_campaign=mei&mktm=r&utm_source=PR&utm_medium=link&utm_campaign=ew&mktm=r
You can also contact attorney Jonathan Naji, Esq. by calling (484) 270-1453 or by email at info@ktmc.com.
DEFENDANTS’ ALLEGED MISCONDUCT:
The complaint alleges that, throughout the Class Period, Defendants provided overwhelmingly positive statements to investors related to the growth of the company’s core product, Transcatheter Aortic Valve Replacement (“TAVR”), while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of Edwards’ TAVR platform. Specifically, Edwards’ claims and confidence relied far too heavily on their perceived ability to engage the claimed low-treatment-rate population of patients and an overestimation of the desire for hospitals and other care facilities to continue to utilize and otherwise commit resources to the TAVR procedures over newer, innovative treatment alternatives.
Please CLICK HERE to view our video or copy and paste this link into your browser: https://youtu.be/hnxR1_RnFHI
THE LEAD PLAINTIFF PROCESS:
Edwards investors may, no later than December 13, 2024, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.
Kessler Topaz Meltzer & Check, LLP encourages Edwards investors who have suffered significant losses to contact the firm directly to acquire more information.
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP:
Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country and around the world. The firm has developed a global reputation for excellence and has recovered billions of dollars for victims of fraud and other corporate misconduct. All of our work is driven by a common goal: to protect investors, consumers, employees and others from fraud, abuse, misconduct and negligence by businesses and fiduciaries. The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visit www.ktmc.com.
CONTACT:
Kessler Topaz Meltzer & Check, LLP
Jonathan Naji, Esq.
(484) 270-1453
280 King of Prussia Road
Radnor, PA 19087
info@ktmc.com
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Nio or XPeng: Which Is the Best High-Growth Chinese EV Investment?
I am moderately bullish on both Nio (NIO) and XPeng (XPEV), two relatively new Chinese electric vehicle (EV) companies. However, of the two, XPeng appears to offer the best return potential, as its future growth rates are likely to surpass Nio’s. Both investments are undervalued based on my analysis, but each is likely to face challenges with profitability over the next few years. That said, with profitability expected for both companies in the medium term, I am assigning a Moderate Buy rating to each.
Using TipRanks’ Stock Comparison Tool, let us compare these two Chinese EV makers.
I’m moderately bullish on NIO stock following its recent Q3 2024 results. The company delivered 61,855 vehicles, achieving a new quarterly record. Additionally, it guided for 72,000 to 75,000 units for Q4 2024. Nio’s ONVO L60 mass-market SUV, a key growth driver, has been ramping up since late Q3, with the company targeting 20,000 units produced per month by March 2025. However, the company’s Q3 revenue did fall by 2.1% year-over-year due to pricing pressure.
In the earnings call, management emphasized long-term growth in Europe, with its global expansion strategy relying heavily on the ONVO and Firefly (a boutique compact car) models to capture mass-market demand. Compared to XPeng, Nio is less aggressive in overseas market expansion but prioritizes brand positioning and infrastructure readiness.
In many respects, XPeng focuses on efficiency, while Nio emphasizes quality. For instance, XPeng’s P7+ AI Hawkeye Visual Advanced Driver Assistance System does not rely on LiDAR or HD maps, which helps reduce costs. In contrast, Nio employs a comprehensive array of sensors, including LiDAR and HD maps. Similarly, in the U.S., Tesla (TSLA) adopts the efficiency-focused model, while Waymo follows a more comprehensive approach, akin to Nio’s strategy.
Meanwhile, Nio’s Q3 revenue grew 7% quarter-over-quarter. While its net loss remained high at RMB 5.1 billion, the company maintained a strong cash position of RMB 42.2 billion. Management is targeting breakeven by 2026. Compared to XPeng, Nio is likely to take longer to reach profitability. Although its revenue base is larger, Nio continues to invest heavily in building its long-term market position, delaying profitability in favor of a stronger future.
One of the core reasons I’m bullish on Nio is its price-to-sales (P/S) ratio of just 1x, significantly lower than historical highs (P/S of 34x in 2020). If the company continues moving toward profitability and sustains strong year-over-year revenue growth of 25% for Fiscal 2024 and 40% for Fiscal 2025, this could become a high-return investment approaching potential profitability in Fiscal 2026 or Fiscal 2027.
Stop Overpaying on Social Security Taxes. Here's What You Can Do
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Millions of Americans rely on Social Security benefits for all, or a portion, of their retirement income. Up to 85% of Social Security benefits are subject to federal income tax, depending on your total household income. However, Fidelity recently presented options for taxpayers to reduce how much they pay in taxes on Social Security benefits. Delaying Social Security claims and reducing withdrawals from traditional IRAs are two popular ways Social Security recipients can lower their tax bills. Some others may also work, depending on your specific situation.
A financial advisor can help you minimize taxes on your Social Security benefits. Speak with an advisor today.
You must pay taxes on Social Security benefits if your combined income exceeds certain thresholds. Social Security uses a figure called combined income to determine whether your income is above the thresholds where owe taxes on benefits. The formula for determining your combined income is:
Combined Income = Adjusted Gross Income (AGI) + Nontaxable Interest + 1/2 of Social Security benefits
Single filers with combined income above $25,000, and married joint filers above $32,000, may pay taxes on up to 85% of those benefits.
While Social Security benefits are subject to taxation, benefits get taxed at a lower rate than other sources of income. A maximum of 85% of Social Security benefits may be taxed, for instance, versus 100% of IRA withdrawals. This makes Social Security a valuable income source for retirees.
If you don’t do anything to manage the way your Social Security benefits are taxed, you may wind up with less after-tax income in retirement that you can use to support your lifestyle. Fidelity breaks down two widely used strategies for doing that:
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Roth conversion: If you convert savings into a Roth IRA, you can make tax-free withdrawals from the Roth account without increasing your combined income. This Roth conversion strategy lets you claim Social Security benefits without paying more taxes on them.
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Delaying Social Security: While you can claim Social Security benefits as early as age 62, waiting to claim boosts your benefit checks. This means that a smaller portion of what you need to pay for living expenses will have to come from taxable IRA income.
As a hypothetical example of the dollar impact of using the second strategy, assume a couple plans to retire at 65. They will pay for retirement with a combination of Social Security and IRA withdrawals totaling $70,000 after taxes. They’ll claim the standard deduction of $27,700 and use the income tax brackets for 2023.
Supermicro Shares Soar as It Looks to Avoid Being Delisted. Is Now a Good Time to Buy the Beaten-Down Stock?
It’s been a roller-coaster ride for Super Micro Computer’s (NASDAQ: SMCI) stock this year, with a lot of big moves in both directions. After a hot start to the year, the company’s shares began to slide following a short report from Hindenburg Research that accused the company of accounting manipulation. That was soon followed by the company delaying the filing of its 10-K annual report.
The Wall Street Journal later reported that Supermicro was being investigated by the Department of Justice (DOJ) over potential accounting issues, addIing fuel to the fire, although the report was never confirmed by the company nor the DOJ.
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The stock later shot higher after the company announced that it has been shipping more than 100,000 graphic processing units (GPUs) per quarter.
That rally, however, faded on news that its auditor, Ernst and Young, was resigning and that it would need to find a new auditor to file its annual report. This delay put the company at risk of its stock getting delisted from the Nasdaq Stock Market.
Supermicro shares took a further hit after the company announced preliminary numbers for Q4 that came up well short of expectations. However, the stock was back to rally mode after the company announced it has found a new auditor.
For the year, the stock is currently down modestly, about 7% as of this writing, although it has a tendency to make some pretty big moves in a short period of time. Against that backdrop, let’s take a closer look at the company’s latest news and see if investors should consider buying the stock at current levels.
Supermicro shares soared over 30% after it named BDO its new auditor. Ernst and Young had earlier resigned, issuing a pretty harsh statement, saying it was “unwilling to be associated with the financial statements prepared by management” and that it has concerns about Supermicro’s governance, transparency, and internal controls.
The firm had only been Supermicro’s auditor since March 2023 after taking over from Deloitte & Touche.
Thus, getting BDO, which is one of the world’s five-largest accounting firms, to take over is a big potential win for the company. In a statement, Supermicro said, “This is an important next step to bring our financial statements current, an effort we are pursuing with both diligence and urgency.”
In addition to announcing a new auditor, Supermicro also said that it has submitted a compliance plan with the Nasdaq in hopes to get a filing extension and remain listed of the exchange. If the company were delisted, its shares would still trade, but it would now be on the over-the-counter (OTC) market. That could lead to its removal for the S&P 500 index, which is just joined earlier this year.
Real Estate Brokers Describe How The Landscape Has Changed Since Landmark Settlement On Agent Commissions
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Change is a constant in any industry, but some changes are big enough to alter how an industry operates forever. Many observers believed the real estate industry was about to experience that kind of change after a legal settlement with the National Association of Realtors (NAR) that took a sledgehammer to the industry’s traditional commission structure. Real estate brokers reflect on how the industry has changed since the settlement took effect.
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If you have ever sold a piece of real estate, you are likely familiar with “standard” broker compensation, which has traditionally been 6% of the purchase price. This compensation to the broker would be split in half with any other real estate broker who produced a buyer, meaning both brokers got 3% each. Although this was traditionally pitched to buyers and sellers as a standard practice, some people began questioning whether it was fair to the seller.
After all, paying equal compensation to a buyer’s broker, whose job is to negotiate the price of your property downward, does seem somewhat counterintuitive. However, sellers didn’t have much choice because their broker had to agree to split the commission in half with the buyer’s brokers as a condition of listing the property on the multiple listing service (MLS).
Before the internet, the MLS, operated by the NAR (or a local branch affiliated with the NAR), was almost the only way to mass-advertise a property for sale and attract qualified buyers, most of whom were represented by NAR-member brokers. The conflict revolved around whether that system created a closed loop that gave the NAR a monopoly on information and encouraged price fixing among brokerages, who almost universally charged a 6% commission.
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The End of the 6% Commission
After years of avoiding legal action, the NAR (and several of America’s largest real estate brokerages) settled a massive case in 2023. The settlement included $418 million in compensation for the plaintiffs and a pledge by the NAR to reform its business practices.
Dogecoin Whales Move $214.5M In A Single Day, Sparking Speculation
Large holders of Dogecoin DOGE/USD have been making significant moves, with Dogecoin whales recently buying up 550 million DOGE tokens, valued at $214.5 million, in one day.
What Happened: The transactions, recorded on blockchain monitoring services, highlight the growing activity among Dogecoin’s biggest investors.
Blockchain experts note that such whale movements often signal potential market shifts, as these transactions can precede either price rallies or sell-offs.
The transfers occurred amid a period of relative stability for Dogecoin, trading near $0.056 at the time of the transactions.
Why It Matters: Historically, Dogecoin’s price has been highly susceptible to whale activity, prompting heightened attention from the crypto community.
Dogecoin, created in 2013 as a joke, has gained significant traction thanks to endorsements from figures like Elon Musk. Despite its origins, the cryptocurrency now ranks among the top digital assets by market capitalization.
The meme coin remains a popular choice for retail investors, although its price volatility has led to mixed opinions among analysts. This latest whale activity underscores the ongoing interest in Dogecoin among major holders, hinting at potential shifts in market sentiment.
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If You Invested $10,000 In Simon Property Stock 10 Years Ago, How Much Would You Have Now?
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Simon Property Group (NYSE:SPG) owns, develops and manages premier shopping, dining, entertainment and mixed-use destinations, primarily malls, Premium Outlets, The Mills and International Properties.
It is set to report its Q4 2024 earnings on Feb. 3, 2025. Wall Street analysts expect the company to post an EPS of $3.38, down from $3.69 in the year-ago period. According to Benzinga Pro, quarterly revenue is expected to reach $1.38 billion, down from $1.53 billion in the previous year.
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The company’s stock traded at approximately $178.87 per share 10 years ago. If you had invested $10,000, you could have bought roughly 56 shares. Currently, shares trade at $180.91, meaning your investment’s value could have grown to $10,114 from stock price appreciation alone. However, Simon Property also paid dividends during these 10 years.
Simon Property’s dividend yield is currently 4.64%. Over the last 10 years, it has paid about $69.60 in dividends per share, which means you could have made $3,891 from dividends alone.
Summing up $10,114 and $3,891, we end up with the final value of your investment, which is $14,005. This is how much you could have made if you had invested $10,000 in Simon Property stock 10 years ago. This means a total return of 40.05%. However, this figure is significantly less than the S&P 500 total return for the same period, which was 225.72%.
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Simon Property has a consensus rating of “Buy” and a price target of $145.74 based on the ratings of 19 analysts. The price target implies more than 19% potential downside from the current stock price.
On Nov. 1, the company announced its Q3 2024 earnings, posting an FFO of $2.84, missing the consensus estimate of $3.03. Revenues of $1.481 billion came in above the consensus of $1.325 billion, as reported by Benzinga.
3 Dividend Stocks That Are Screaming Buys in November
It looks like politics is shaking up the healthcare industry. Several blue-chip healthcare stocks have been on the slide in recent weeks. The cause? It could be the recent nomination of Robert F. Kennedy Jr. as the Secretary of Health and Human Services for the incoming Trump administration.
Throughout the election cycle, Kennedy has been vocal about his desire to make big changes at several agencies, including the Food & Drug Administration (FDA). This has introduced uncertainty for businesses that work with the agency, especially pharmaceutical companies.
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While it remains to be seen what will come of all this, the fear has knocked some prominent dividend-paying healthcare companies down to appetizing valuations that long-term investors should consider taking advantage of.
Here are three compelling buys to look into today:
Shares of pharmaceutical giant AbbVie (NYSE: ABBV) are currently trading down over 18% from their high. But it’s not just political angst dropping the stock; AbbVie paid $8.7 billion to acquire Cerevel last year, seeking the company’s pipeline of psychiatric drugs. However, Cerevel’s schizophrenia drug emraclidine unexpectedly failed its clinical trials, raising severe doubts that AbbVie will get much return on that nearly $9 billion investment.
It’s not ideal that such a promising asset has fallen on its face. Still, AbbVie is a well-diversified drug company with plenty of growing products that have helped offset the losses from Humira, a mega-blockbuster product that came off of its patent protection last year. Notably, the stock’s fantastic dividend is on solid ground. AbbVie currently yields 3.7%, and its dividend payout ratio is just 56% of its estimated 2024 earnings. So, the failure of emraclidine hurts, but it doesn’t make or break AbbVie.
The stock now trades at a forward P/E ratio of 15. Meanwhile, analysts estimate AbbVie’s earnings will grow by an average of 8% to 9% annually over the long term. This is an opportunity to buy a top-notch dividend stock at a PEG ratio of 1.7, a solid deal for AbbVie’s expected growth. Assuming the valuation stays roughly the same, investors could see growth and dividends combine for total returns averaging 11% to 13% annually over time.
The COVID-19 pandemic created a business boom for Pfizer (NYSE: PFE), but that’s dried up, and the combination of declining earnings and sour industry sentiment has punished the stock. Shares now trade at less than 9 times earnings. Such a low valuation would imply that Pfizer, an industry giant, is on the ropes. The stock’s 6.7% dividend yield is the highest it’s ever been outside of the financial crisis in 2008-2009.
$HAREHOLDER INVESTIGATION: The M&A Class Action Firm Continues to Investigate the Mergers of MKFG, CYTH, BRKH and CFB
NEW YORK, Nov. 23, 2024 (GLOBE NEWSWIRE) — Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered millions of dollars for shareholders and is recognized as a Top 50 Firm by ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating:
- Markforged Holding Corporation (NYSE: MKFG), relating to its proposed merger with Nano Dimension Ltd. Under the terms of the agreement, Markforged stockholders will be entitled to receive $5.00 in cash per share of Markforged they own.
ACT NOW. The Shareholder Vote is scheduled for December 5, 2024.
Click here for more information: https://monteverdelaw.com/case/markforged-holding-corporation/. It is free and there is no cost or obligation to you.
- Cyclo Therapeutics, Inc. (Nasdaq: CYTH), relating to its proposed merger with Rafael Holdings, Inc. Under the terms of the agreement, Cyclo common stock will automatically be converted into the right to receive shares of Rafael common stock.
Click here for more information https://monteverdelaw.com/case/cyclo-therapeutics-inc/. It is free and there is no cost or obligation to you.
- BurTech Acquisition Corp. (NASDAQ: BRKH), relating to the proposed merger with Blaize, Inc. Under the terms of the agreement, shares of BurTech Acquisition will be exchanged for shares of Blaize.
ACT NOW. The Shareholder Vote is scheduled for December 10, 2024.
Click here for more information https://monteverdelaw.com/case/burtech-acquisition-corp-brkh/. It is free and there is no cost or obligation to you.
- Crossfirst Bankshares, Inc. (Nasdaq: CFB), relating to its proposed merger with First Busey Corporation. Under the terms of the agreement, Crossfirst common stock will automatically be converted into the right to receive 0.6675 shares of Busey common stock.
ACT NOW. The Shareholder Vote is scheduled for December 20, 2024.
Click here for more information https://monteverdelaw.com/case/crossfirst-bankshares-inc/. It is free and there is no cost or obligation to you.
NOT ALL LAW FIRMS ARE THE SAME. Before you hire a law firm, you should talk to a lawyer and ask:
- Do you file class actions and go to Court?
- When was the last time you recovered money for shareholders?
- What cases did you recover money in and how much?
About Monteverde & Associates PC
Our firm litigates and has recovered money for shareholders…and we do it from our offices in the Empire State Building. We are a national class action securities firm with a successful track record in trial and appellate courts, including the U.S. Supreme Court.
No company, director or officer is above the law. If you own common stock in any of the above listed companies and have concerns or wish to obtain additional information free of charge, please visit our website or contact Juan Monteverde, Esq. either via e-mail at jmonteverde@monteverdelaw.com or by telephone at (212) 971-1341.
Contact:
Juan Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave. Suite 4740
New York, NY 10118
United States of America
jmonteverde@monteverdelaw.com
Tel: (212) 971-1341
Attorney Advertising. (C) 2024 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com). Prior results do not guarantee a similar outcome with respect to any future matter.
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
2024 Election Housing Measures: What Passed, What Failed And What It Means For Supply, According To Redfin Chief Economist
Recent elections across the U.S. delivered mixed results for housing initiatives, with voters showing strong support for funding affordable housing while remaining skeptical of rent control measures, according to an analysis by Redfin Chief Economist Daryl Fairweather.
Rhode Island became a standout success story, with voters overwhelmingly approving a record-breaking $120 million housing bond. The measure, nearly doubling the state’s previous housing investment from three years ago, signals growing public recognition of the housing crisis.
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Several major cities also secured funding for affordable housing initiatives. Los Angeles voters approved a new half-cent sales tax for housing development, while Charlotte, North Carolina, passed a $100 million housing bond package. Baltimore followed with a $20 million bond measure for affordable housing projects.
San Francisco’s Proposition G secured $8.25 million annually for low-income rental subsidies, though Fairweather noted it might serve as a temporary fix rather than a long-term solution. “This helps low-income renters in the short term, but without adding more housing, it’s just a Band-Aid on the problem,” she said on X, formerly Twitter.
However, not all housing measures succeeded.
Denver voters narrowly rejected Ballot Issue 2R, which would have generated $100 million annually through a sales tax increase for new housing development. California saw the defeat of two significant proposals: Proposition 33, which would have loosened rent control restrictions and Proposition 5, which aimed to lower the supermajority threshold for housing bonds.
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The rejection of rent control measures extended beyond California. Hoboken, New Jersey voters struck down a proposal to raise rent caps on vacant units. Fairweather views the outcomes as potentially positive for housing supply, stating, “strict rent control keeps existing tenants happy but limits new investment and leads to fewer rentals in the long run.”
Local initiatives employed various approaches to raise housing funds. According to the Institute on Taxation and Economic Policy, communities used diverse funding mechanisms, including sales taxes in Lawrence, Kansas, real estate transfer taxes in Berkeley and Mountain View, California and lodging taxes in several Colorado municipalities.
Berkeley bucked the trend against rent control by approving Measure BB’s 5% rent cap. However, Fairweather and other economists suggest rent control measures could discourage future development. “The best way to stabilize rents is to build more homes,” Fairweather said.
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The election results demonstrated that voters recognize the need for housing investment while remaining divided on policy approaches. While many communities showed willingness to fund affordable housing initiatives, rejecting certain measures highlights ongoing debate about the most effective solutions to address housing affordability.
Fairweather emphasized that while the Federal government can aid in the housing crisis, “local initiatives have a profound impact on the housing market, even if they don’t make national headlines.”
The mix of successful and failed measures indicates that while voters broadly support addressing housing affordability, they remain selective about specific policy solutions and funding mechanisms.
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