#Disney sued by #shareholders for #fraud and hiding Disney+ losses #Collapse

https://newstarget.com/2023-09-07-shareholders-sue-disney-accuse-management-of-fraud.html

First rule about ESG: Don't talk about ESG

#esg #esgstrategy #investors #shareholders #finance #banks #cleanenergy #cleanpower #greenenergy #renewableenergy #decarbonization #climatecrisis #energytransition #energy #fuel

https://www.triplepundit.com/story/2023/esg-down-not-out/782776

…If the extension fails, #DigitalWorld said in a filing in July that it would “cease all operations except for the purpose of winding up” & repay #investors at a price of about $10.24 per share — far below what many #shareholders paid.…

#Trump Media has blamed the #SEC (of course) for the deal’s troubles, saying in a statement last year that the agency had worked to “sabotage” the #merger for #political reasons w/ “a bureaucratic black hole of inaction.”

Then, last Aug, #DigitalWorld… asked #shareholders to approve up to four three-months extensions.

Digital World’s leaders then staged an intense get-out-the-vote campaign, postponing shareholder meetings six times as they worked to secure enough investor support. After drawing on millions of dollars in funding from its corporate sponsor, #ARCGlobalInvestmentsII, the co was ultimately able to extend its deadline to Sept 8 of this year.

Once the SPAC decides on & discloses its target, it works to merge w/that co & bring it to the #public stock market, avoiding some of the demands of a more traditional #IPO.

If the #SPAC is unable to complete the #merger w/in the time it specifies, it must return the money it raised to #shareholders.

#DigitalWorld completed its IPO on Sept 8, 2021, & set a “termination date” for when the #merger would be completed 1 yr later, it said in #SEC filings.

If the vote fails, #DigitalWorld will be required by #law to liquidate and return $300M to its #shareholders, leaving #Trump’s co w/nothing from the transaction.…

DigitalWorld’s efforts to merge w/#TrumpMedia have been troubled almost from the start, beset by allegations that it began its conversations w/TFG’s company before they were permitted under #SPAC rules.

What's gong on at #Deliveroo?

After an Initial Public Offering which raised £1bn they're still burning through cash at a rate of over £50mn a year.... they're losing money on operations; but in the previous 2 years they burnt through nearly £250mn.

Now, they are offering to return some of the money raised to #shareholders (or as FT Lex puts it, offering investors their deposits back).

So, is this a sign Deliveroo is now sacrificing growth for profitability - they've reached an optimum size?

Regeneron Pharmaceuticals, a maker of synthetic biologic treatments, is acquiring Decibel Therapeutics, developer of gene therapies to treat hearing loss and balance disorders.

https://sciencebusiness.technewslit.com/?p=45086

#News #Press #Science #Business #Finance #Acquisition #Shareholders #Biotechnology #Neuroscience #Genetics #GeneTherapy #Biologics #HearingLoss #Balance #Cochlea #ClinicalTrial

#shock While Florida residents are shouldering the burden of the insurer’s collapse, its former #executives and #shareholders are in better shape.

#giftarticle
#usa #news #insurance

How #Florida let a top insurer abandon #homeowners in their time of greatest need https://wapo.st/3q9GlnD

@empiricism
For the #wealthy, maximizing short-term #profit, #consequences be damned, is a reflex. For #corporations, this practice is considered a solemn duty to the #shareholders.

Warum schreien die Wirtschaft und die Parteien, die die Interessen des Kapitals vertreten, nach dem Staat, der sonst so verachtet wird, wenn das Management versagt? Gewinne privatisieren und Risiken sozialisieren, eine typisch deutsche Kapitalismus-Ausprägung.

#deutscheWirtschaft #eigenverantwortung #kapitalismus #shareholders #marktversagen

Teamsters gather union, political support ahead of forced strike vs. UPS

https://www.peoplesworld.org/article/teamsters-gather-union-political-support-ahead-of-forced-strike-vs-ups/

“With 340,000 Teamsters heading for a strike their UPS bosses are forcing on them, the union picked up support from the Service Employees and from two long and strong political backers of workers”

#strike #solidarity #economicshutdown #teamsters #ups #greed #investors #shareholders #capitalism #qualityoflife

ANALYSIS: Why exposing MPs’ financial secrets could land you in prison.

Journalists face extraordinary legal risks to investigate shareholdings in Britain’s biggest companies.

https://www.opendemocracy.net/en/parliament-mp-shareholdings-in-publicly-listed-firms-kept-secret-by-companies-act/?utm_source=mastodon&utm_medium=social&utm_campaign=newsie_social

#Transparency #Shareholders #MPs #UKpolitics #UK #UKlaw

Local Govt. Association estimates that there will be around a £2bn shortfall in local councils budgets next year, causing even more trouble with delivering basic (local) services;

The #Tories work of destroying local #democracy is being compounded by #inflation;

their 'inability' to develop a workable strategy to deal with the causes of inflation (by continuing to ignore #greedflation), serves to continue their preference for enriching #shareholders rather than maintaining general welfare

@fulelo #Money and not getting sued by #Shareholders is more important!

#VoxPolitical | We’ve been told lies about #ThamesWater’s profits – and the cost of cleaning the #sewage

💧 Their operating profit margin is a staggeringly-high 35 per cent. There is no reason for Thames Water to be in danger of insolvency.
💧 Every single penny they have made in #profit has been paid out to #shareholders in #dividends.
💧 Water companies are #environmentally #insolvent.

com/2023/06/29/weve-been-told-lies-about-thames-waters-profits-and-the-cost-of-cleaning-the-sewage/

#Thameswater: a case in point for #capitalism collapse.

When #assets & resources have been stripped & profiteers (here: Macquarie bank) are disgarding the shells of the enterprises they used, we, the average #taxpayer, are utterly fucked. We lose #access to #publicservices & #utilities AND have to fork out more money to #shareholders. If we don't want to leave people dying on the streets, we need to seize back the money stolen & enforce #publicservice #legislation. https://www.theguardian.com/business/2023/jun/28/contingency-plans-reportedly-being-drawn-up-for-thames-water-collapse

With the prospect of a quasi-re-nationalisation of #ThamesWater, the Q. of compensation for #shareholders has arisen (unsurprisingly).

As some posts have already hinted/suggested: in theory #capitalism is about risk; so if the #investors vehicle fails then they should lose their investment (after all that's what limited liability is intended to allow & cap).

But, the UK's rentier capitalism, usually socialises the losses while privatising the rewards; so investors will likely get something!

We praise Nissan's board today,
For the path they have helped to pave.
For the AGM that took place
Shareholders embraced their case.
A new path for Nissan's future to save.

#nissan #shareholders #agm #alliance #ode #poetry

https://www.reuters.com/business/autos-transportation/nissan-shareholders-support-board-first-agm-since-striking-alliance-deal-2023-06-27/

So the Q, is: is #Amazon really considering a big to buy #Ocado?

Or are some #shareholders, frustrated at the post-Covid drop in the share prices (80% off peak) seeking to ramp the shares to allow them to get out on a profitable trade?

While an Amazon bit doesn't necessarily seem implausible, neither is a conspiracy of gossip to held shareholders cash out.....

But if you were thinking of buying don't forget the old adage: if you don't know who the fool is in the market, then its likely you!