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The U.S. Supreme Court sidestepped on Wednesday a decision on whether to allow shareholders to proceed with a securities fraud lawsuit accusing artificial intelligence chipmaker Nvidia of misleading investors about how much of its sales depended on the volatile cryptocurrency market. The justices, who heard arguments on November 13 after earlier deciding to take up the case, dismissed Nvidia's appeal of a lower court's ruling that allowed a 2018 class action - litigation led by the Stockholm, Sweden-based investment management firm E. Ohman J:or Fonder AB - to move forward. The Supreme Court opted not resolve the underlying legal dispute, determining that the case should not have been granted. Its action leaves the lower court's decision in place. The court's dismissal came in a one-line order that provided no explanation. At issue was whether the plaintiffs cleared the heightened legal bar for bringing private securities fraud suits set under a 1995 federal law called the Private Securities Litigation Reform Act that aimed to screen out frivolous litigation. Finance Financial Literacy i.e Lets Crack the Billionaire Code By - CA Rahul Gupta, CA with 10+ years of experience and Accounting Educator View Program Entrepreneurship Startup Fundraising: Essential Tactics for Securing Capital By - Dr. Anu Khanchandani, Startup Coach with more than 25 years of experience View Program Finance AI and Generative AI for Finance By - Hariom Tatsat, Vice President- Quantitative Analytics at Barclays View Program Entrepreneurship Building Your Winning Startup Team: Key Strategies for Success By - Dr. Anu Khanchandani, Startup Coach with more than 25 years of experience View Program Data Science SQL for Data Science along with Data Analytics and Data Visualization By - Metla Sudha Sekhar, IT Specialist and Developer View Program Office Productivity Excel Essentials to Expert: Your Complete Guide By - Study At Home, Quality Education Anytime, Anywhere View Program Office Productivity Mastering Google Sheets: Unleash the Power of Excel and Advance Analysis By - Metla Sudha Sekhar, IT Specialist and Developer View Program Marketing Digital Marketing Masterclass by Pam Moore By - Pam Moore, Digital Transformation and Social Media Expert View Program Office Productivity Microsoft Word Mastery: From Beginner to Expert By - CA Raj K Agrawal, Chartered Accountant View Program Marketing Performance Marketing for eCommerce Brands By - Zafer Mukeri, Founder- Inara Marketers View Program Design Microsoft Designer Guide: The Ultimate AI Design Tool By - Prince Patni, Software Developer (BI, Data Science) View Program Leadership Business Storytelling Masterclass By - Ameen Haque, Founder of Storywallahs View Program Entrepreneurship Validating Your Startup Idea: Steps to Ensure Market Fit By - Dr. Anu Khanchandani, Startup Coach with more than 25 years of experience View Program Web Development C++ Fundamentals for Absolute Beginners By - Metla Sudha Sekhar, IT Specialist and Developer View Program Entrepreneurship Boosting Startup Revenue with 6 AI-Powered Sales Automation Techniques By - Dr. Anu Khanchandani, Startup Coach with more than 25 years of experience View Program Artificial Intelligence(AI) Java Programming with ChatGPT: Learn using Generative AI By - Metla Sudha Sekhar, IT Specialist and Developer View Program Data Analysis Learn Power BI with Microsoft Fabric: Complete Course By - Prince Patni, Software Developer (BI, Data Science) View Program Finance A2Z Of Finance: Finance Beginner Course By - elearnmarkets, Financial Education by StockEdge View Program Strategy ESG and Business Sustainability Strategy By - Vipul Arora, Partner, ESG & Climate Solutions at Sattva Consulting Author I Speaker I Thought Leader View Program Data Science SQL Server Bootcamp 2024: Transform from Beginner to Pro By - Metla Sudha Sekhar, IT Specialist and Developer View Program Finance A2Z Of Money By - elearnmarkets, Financial Education by StockEdge View Program Marketing Digital marketing - Wordpress Website Development By - Shraddha Somani, Digital Marketing Trainer, Consultant, Strategiest and Subject Matter expert View Program The plaintiffs accused Nvidia and its CEO Jensen Huang of violating a 1934 federal law called the Securities Exchange Act by making statements in 2017 and 2018 that falsely downplayed how much of Nvidia's revenue growth came from crypto-related purchases. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Beginning in 2017, as the price of certain cryptocurrencies rose, Nvidia's chips became increasingly popular for cryptomining, a process that involves performing complex math equations in order to secure cryptocurrencies such as bitcoin and ether. By late 2018, amid a decline in crypto profitability, Nvidia's revenue fell short of its projections, leading its stock price to fall in early November of that year. The plaintiffs accused Nvidia and its top officials of concealing the impact of cryptomining on its business. The suit seeks unspecified monetary damages in part to recoup the lost value of the Nvidia stock held by the investors. Nvidia in 2022 agreed to pay $5.5 million to U.S. authorities to settle charges that it did not properly disclose the impact of cryptomining on its gaming business, but without admitting or denying the findings of federal regulators. A federal judge dismissed the lawsuit but the San Francisco-based 9th U.S. Circuit Court of Appeals subsequently revived it. The 9th Circuit found that the plaintiffs had adequately alleged that Huang made "false or misleading statements and did so knowingly or recklessly," allowing their case to proceed. Nvidia argued to the Supreme Court that the plaintiffs had failed to adequately show that the disputed corporate statements were false, or the company had intentionally or recklessly misled investors, as required by law. The plaintiffs countered that their lawsuit contained strong enough allegations - gleaned from former employees, market analysis and expert opinion - to survive Nvidia's request for dismissal and proceed to the discovery stage of litigation. President Joe Biden's administration supported the shareholders in the case.Eagles stars Jalen Hurts, A.J. Brown say relationship is 'good' after teammate suggests fissure
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Google forges ahead with its next generation of AI technology while fending off a breakup threatUS Junk-Bond Market Is Increasingly Just for Refinancing Itself
Credit Acceptance Celebrates its 10th Year as a Best Place to Work in IT by ComputerworldWARSAW, N.Y., Dec. 11, 2024 (GLOBE NEWSWIRE) -- Financial Institutions, Inc. (Nasdaq: FISI) (the "Company”), parent company of Five Star Bank and Courier Capital, LLC, announced today that it has launched an underwritten public offering of shares of its common stock. The Company intends to grant the underwriters a 30-day option to purchase additional shares of its common stock. The Company intends to use the net proceeds from this offering for general corporate purposes which may include a balance sheet restructuring through the repositioning of a substantial portion of our available-for-sale debt securities portfolio to support continued growth as well as the repayment of indebtedness. Keefe, Bruyette & Woods, Inc., A Stifel Company is serving as the sole bookrunner for the offering, and Piper Sandler & Co. is acting as the co-manager. Additional Information Regarding the Offering The offering of common stock is being made pursuant to a registration statement on Form S-3 (File No. 333-283475) that was declared effective by the Securities and Exchange Commission (the "SEC”) on December 4, 2024. A preliminary prospectus supplement to which this communication relates has been filed with the SEC. A final prospectus supplement and accompanying prospectus will be filed with the SEC. Prospective investors should read the preliminary prospectus supplement and the accompanying prospectus and other documents the Company has filed with the SEC for more complete information about the Company and the offering. Copies of these documents are available at no charge by visiting the SEC's website at www.sec.gov . When available, copies of the preliminary prospectus supplement, the final prospectus supplement and accompanying prospectus related to the offering may be obtained by contacting Keefe, Bruyette & Woods, Inc., A Stifel Company by telephone at (800) 966-1559 or by e-mail at [email protected] . No Offer or Solicitation This press release does not constitute an offer to sell, a solicitation of an offer to sell, or the solicitation of an offer to buy any securities. There will be no sale of securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. About Financial Institutions, Inc. Financial Institutions, Inc. (NASDAQ: FISI) is an innovative financial holding company with approximately $6.2 billion in assets offering banking and wealth management products and services. Its Five Star Bank subsidiary provides consumer and commercial banking and lending services to individuals, municipalities and businesses through banking locations spanning Western and Central New York and a commercial loan production office serving the Mid-Atlantic region. Courier Capital, LLC offers customized investment management, financial planning and consulting services to individuals and families, businesses, institutions, non-profits and retirement plans. Learn more at Five-StarBank.com and FISI-Investors.com. Special Note Concerning Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent plans, estimates, objectives, goals, guidelines, expectations, intentions, projections, and statements of the Company's beliefs concerning future events, business plans, objectives, expected operating results, and the assumptions upon which those statements are based. Forward-looking statements include without limitation, any statement that may predict, forecast, indicate, or imply future results, performance, or achievements, and are typically identified with words such as "may”, "could”, "should”, "will”, "would”, "believe”, "anticipate”, "estimate”, "expect”, "aim”, "intend”, "plan” or words or phases of similar meaning. The Company cautions that the forward-looking statements are based largely on the Company's expectations and are subject to a number of known and unknown risks and uncertainties that are subject to change based on factors which are, in many instances, beyond the Company's control. Such forward-looking statements are based on various assumptions (some of which may be beyond the Company's control) and are subject to risks and uncertainties, which change over time, and other factors, which could cause actual results to differ materially from those currently anticipated. New risks and uncertainties may emerge from time to time, and it is not possible for the Company to predict their occurrence or how they will affect the Company. If one or more of the factors affecting the Company's forward-looking information and statements proves incorrect, then the Company's actual results, performance, or achievements could differ materially from those expressed in, or implied by, forward-looking information and statements contained in this press release. Therefore, the Company cautions you not to place undue reliance on the Company's forward-looking information and statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in the Company's Annual Report on Form 10-K for the year ended December 31, 2023 under the section entitled "Risk Factors,” and other documents filed by the Company with the SEC from time to time. The Company disclaims any duty to revise or update the forward-looking statements, whether written or oral, to reflect actual results or changes in the factors affecting the forward-looking statements, except as specifically required by law. Investor Contact : Kate Croft Director of Investor and External Relations (716) 817-5159 [email protected]
Lula's Road to Recovery and Political Future
MONTEVIDEO, Uruguay (AP) — Uruguayans on Sunday voted in the second round of the country's presidential election , with the conservative governing party and the left-leaning coalition locked in a close runoff after failing to win an outright majority in last month’s vote . The closing of polls started a countdown to the announcement of official results as independent polling firms were preparing to release so-called quick counts. Depending on how tight the vote turns out to be, electoral officials may not call the race for days — as happened in the contentious 2019 runoff that brought center-right President Luis Lacalle Pou to office and ended 15 years of rule by Uruguay’s left-leaning Broad Front. Uruguay's staid election has turned into a hard-fought race between Álvaro Delgado, the incumbent party’s candidate who won 27% in the first round of voting on Oct. 27, and Yamandú Orsi from the Broad Front, who took 44% of the vote in the first round. But other conservative parties that make up the government coalition — in particular, the Colorado Party — notched 20% of the vote collectively, enough to give Delgado an edge over his challenger. Congress ended up evenly split in the October vote. Most polls have shown a virtual tie between Delgado and Orsi, with nearly 10% of Uruguayan voters undecided even at this late stage. Many said they believed turnout would be low if voting weren't compulsory in the country. “Neither candidate convinced me and I feel that there are many in my same situation," said Vanesa Gelezoglo, 31, in the capital, Montevideo, adding she would make up her mind at “the last minute.” Analysts say the candidates' lackluster campaigns and broad consensus on key issues have generated extraordinary indecision and apathy in an election dominated by discussions about social spending and concerns over income inequality but largely free of the anti-establishment rage that has vaulted populist outsiders to power elsewhere . “The question of whether Frente Amplio (the Broad Front) raises taxes is not an existential question, unlike what we saw in the U.S. with Trump and Kamala framing each other as threats to democracy," said Nicolás Saldías, a Latin America and Caribbean senior analyst for the London-based Economist Intelligence Unit. “That doesn't exist in Uruguay.” Both candidates are also appealing to voter angst over a surge in violent crime that has shaken a nation long regarded as one of the region’s safest, with Delgado promising tough-on-crime policies and Orsi advocating a more community-oriented approach. Delgado, 55, a rural veterinarian with a long career in the National Party, campaigned on a vow to continue the legacy of current President Lacalle Pou — in some ways making the election into a referendum on his leadership. He campaigned under the slogan “re-elect a good government." While a string of corruption scandals rattled Lacalle Pou's government last year, the president — who constitutionally cannot run for a second consecutive term — now enjoys high approval ratings and a strong economy expected to grow 3.2% this year, according to the International Monetary Fund. Inflation has also eased in recent months, boosting his coalition. Delgado served most recently as Secretary of the Presidency for Lacalle Pou and promises to pursue his predecessor's pro-business policies. He would continue pushing for a trade deal with China that has raised hackles in Mercosur, an alliance of South American countries promoting regional commerce. "We have to give the government coalition a chance to consolidate its proposals,” said Ramiro Pérez, a street vendor voting for Delgado on Sunday. Orsi, 57, a former history teacher and two-time mayor from a working-class background, is widely seen as the political heir to iconic former President José “Pepe” Mujica , an ex-Marxist guerilla who raised Uruguay's international profile as one of the region's most socially liberal and environmentally sustainable nations during his 2010-2015 term. His Broad Front coalition oversaw the legalization of abortion, same-sex marriage and the sale of marijuana in the small South American nation of 3.4 million people. “He's my candidate, not only for my sake but also for my children's,” Yeny Varone, a nurse, said of Orsi. “In the future they'll have better working conditions, health and salaries.” Mujica, now 89 and recovering from esophageal cancer , was among the first to cast his ballot after polls opened. “Uruguay is a small country, but it has earned recognition for being stable, for having a citizenry that respects institutional formalities,” he told reporters from his local polling station. “This is no small feat.” While promising to forge a “new left” in Uruguay, Orsi plans no dramatic changes. He proposes tax incentives to lure investment and social security reforms that would lower the retirement age but fall short of a radical overhaul sought by Uruguay's unions. The contentious plebiscite on whether to boost pension payouts failed to pass in October, with Uruguayans rejecting generous pensions in favor of fiscal constraint. Both candidates pledged full cooperation with each other if elected. “I want (Orsi) to know that my idea is to form a government of national unity,” Delgado told reporters after casting his vote in the capital's upscale Pocitos neighborhood. He said that if he won, he and Orsi would chat on Monday over some yerba mate, the traditional herbal drink beloved by Uruguayans. Orsi similarly pledged a smooth and respectful transition of power, describing Sunday's democratic exercise as “an incredible experience" as he voted in Canelones, the sprawling town of beaches and cattle ranches just north of Montevideo where he served as mayor for a decade. “The essence of politics is agreements,” he said. “You never end up completely satisfied.” Associated Press writer Isabel DeBre in Villa Tunari, Bolivia, contributed to this report.
Ohio politician proposes make flag planting a felony after fight in Michigan rivalry game
FBI Director Christopher Wray told bureau workers Wednesday he plans to resign at the end of President Joe Biden's term in January, an announcement that came a week and a half after President-elect Donald Trump said he would nominate loyalist Kash Patel for the job. Wray said at a town hall meeting that he would be stepping down “after weeks of careful thought,” roughly three years short of the completion of a 10-year term during which he tried to keep the FBI out of politics even as the bureau found itself entangled in a string of explosive investigations, including two that led to separate indictments of Trump last year. Wray’s intended resignation was not unexpected considering that Trump had settled on Patel to be director and had repeatedly aired his ire at Wray, including in a television interview broadcast Sunday. But his departure is nonetheless a reflection of how Trump's norm-breaking style has reshaped Washington, with the president-elect yet again flouting tradition by moving to replace an FBI director before his term was up and Wray — by resigning before he could be fired — opting to avert a collision with the incoming Trump administration that he said would have plunged the FBI into political fighting. “My goal is to keep the focus on our mission — the indispensable work you’re doing on behalf of the American people every day,” Wray told agency employees. "In my view, this is the best way to avoid dragging the bureau deeper into the fray, while reinforcing the values and principles that are so important to how we do our work.” The resignation would clear the way for Patel's ascension, assuming he is confirmed by the Senate. A White House staffer during Trump's first term, Patel has insisted that the federal government should be rid of “conspirators” against Trump. The comments have stirred alarm that he could seek to use the FBI for retribution against perceived enemies despite longstanding guardrails meant to ensure investigations have a proper basis. Kash Patel, former chief of staff to Acting Secretary of Defense Christopher Miller, speaks at a rally in Minden, Nev., Oct. 8, 2022. (José Luis Villegas/AP Photo) It's extremely rare for FBI directors to be ousted from their jobs before the completion of their 10-year terms, a length meant to insulate the agency from the political influence of changing administrations. But Trump has done it twice, placing Wray in the job in 2017 after firing Director James Comey amid an investigation into ties between Russia and the Republican president’s campaign. Despite having appointed Wray, Trump had telegraphed his anger with the FBI director on multiple occasions. Trump said in the recent interview with NBC’s “Meet the Press” that “I can’t say I’m thrilled with him. He invaded my home,” a reference to the FBI search of his Florida property, Mar-a-Lago, two years ago for classified documents from Trump’s first term as president. That search, and the recovery of boxes of sensitive government records, paved the way for one of two federal indictments against Trump. The case, and another one charging him with plotting to overturn the 2020 election, have both been dismissed. Trump applauded the resignation news on social media, calling it “a great day for America as it will end the Weaponization of what has become known as the United States Department of Injustice.” and complaining anew about the Mar-a-Lago search. Attorney General Merrick Garland, meanwhile, praised Wray for having “served our country honorably and with integrity for decades.” He said: “Under Director Wray’s principled leadership, the FBI has worked to fulfill the Justice Department’s mission to keep our country safe, protect civil rights, and uphold the rule of law.” Natalie Bara, the president of the FBI Agents Association. said in a statement Wray had led the FBI “through challenging times with a steady focus on doing the work that keeps our country safe. ” Throughout his seven years on the job, Wray brought a workmanlike approach to the job, repeatedly preaching a “keep calm and tackle hard” mantra to bureau personnel despite a steady drumbeat of attacks from Trump and his supporters. In fact, Wray was quick to distance himself and his leadership team from the FBI’s Russia investigation that was well underway when he took office. On the same day of a harshly critical inspector general report on that inquiry, Wray announced more than 40 corrective actions to the FBI’s process for applying for warrants for secret national security surveillance. He said mistakes made during the Russia inquiry were unacceptable and he helped tighten controls for investigations into candidates for federal office. FBI officials actively trumpeted those changes to make clear that Wray’s leadership had ushered in a different era at the bureau. Even then, though, Wray’s criticism of the investigation was occasionally measured — he did not agree, for instance, with Trump’s characterization of it as a “witch hunt” — and there were other instances, particularly in response to specific questions, when he memorably broke with the White House. In 2020, he said that there was “no indication” that Ukraine had interfered in the 2016 election, countering a frequent talking point at the time from Trump. When the Trump White House blessed the declassification of materials related to the surveillance of a former Trump campaign aide, Wray made known his displeasure. Wray also angered Trump for saying that antifa was a movement and an ideology but not an organization. Trump had said he would like to designate the group as a terrorist organization. Then came the FBI's Mar-a-Lago search, which officials defended as necessary given the boxes of documents that were being concealed at the Palm Beach property and the evidence of obstruction that the Justice Department said had been gathered. Trump railed against the FBI over that action and has kept up his criticism ever since, including after Wray said at a congressional hearing last summer that there was “some question about whether or not it’s a bullet or shrapnel” that struck Trump's ear during an assassination attempt in Pennsylvania in July. The FBI later stated unequivocally that it was indeed a bullet. Before being named FBI director, Wray worked at a prestigious law firm, King & Spalding, where he represented former Gov. Chris Christie, R-N.J., during the “Bridgegate” affair. He also led the Justice Department’s criminal division for a period during President George W. Bush’s administration.
LeBron James won't play for Lakers against Minnesota on FridayChina Imposes Its Most Stringent Critical Minerals Export Restrictions Yet AmidstSubscribe to our newsletter Privacy Policy Success! Your account was created and you’re signed in. Please visit My Account to verify and manage your account. An account was already registered with this email. Please check your inbox for an authentication link. Support Independent Arts Journalism As an independent publication, we rely on readers like you to fund our journalism. If you value our coverage and want to support more of it, consider becoming a member today . Already a member? Sign in here. We rely on readers like you to fund our journalism. If you value our coverage and want to support more of it, please join us as a member . This past week, I’ve practically caused a spasm in my eyes from staring at media coverage of the fatal shooting of UnitedHealthcare CEO Brian Thompson. Now that new developments have slowed following the identification of 26-year-old Luigi Mangione as a suspect in the assassination, meme makers across social media platforms have taken to glorifying the Gen-Z computer science nerd-turned-person of interest in a high-profile American killing. Get the latest art news, reviews and opinions from Hyperallergic. Daily Weekly Opportunities Something about the shooting felt intertwined with my life from the outset — possibly because it occurred not far from buildings where I’ve worked in Midtown Manhattan, or because it was the CEO of the insurance company I receive care through who was killed. The targeted killing was also the first instance of a sensationalized crime I could link my social circles to through social media. When Mangione was charged with the healthcare executive’s murder, I found his Instagram and quickly discovered mutual connections. I turned to his GoodReads account, a platform on which I often share my book reviews, and I casually compared and contrasted our tastes in literature. These are tangential and imagined connections, but a phenomenon arises from the knowledge that the alleged killer is a member of the Gen-Z generation: Young people feel closer to a suspected killer who once occupied their same digital subcultures than they do to the slain executive of a massive corporation. Emerging from that sentiment is a humor that has fascinated the media. The alleged details of the case, including the engravings on the shell casings, monopoly money left behind, the suspect’s purported understanding of post-9/11 surveillance in New York City, his apparent flirting with the desk attendant of a youth hostel, and the get-away electric bike all pointed to someone young, at least by the standards of my circles. As a friend texted in a group chat I’m in: “I just knew I’d have mutuals with this guy once they caught him.” Gen-Z’s shared generational status with Mangione, combined with frustrations over American healthcare insurance practices and widespread desensitization from chronic exposure to violent imagery, including the murder of George Floyd and images of Israel’s war on Gaza, might explain the sardonic online reactions to Thompson’s killing. As of this writing, “Mangione” is the top trending topic on X. Chalked up to “ hate ” by some, the saint-style portraiture, jokes about conjugal visits, fake alibis, jabs at Italian heritage, and comments praising Mangione’s appearance and intelligence barfed up by social media users are an intimate glimpse into how Gen-Z metabolizes the intragenerational suspect of a politicized crime. Almost immediately following Thompson’s murder, X users drew attention to an Anthem Blue Cross policy update that sought to place limits on coverage for anesthesia. Following the online backlash, the provider reversed that policy, yielding a slew of knowing memes. Seemingly devoid of sympathy for the CEO’s death, memes glorifying Mangione alternatively function as symbols of mass solidarity with those who have died as a result of inadequate healthcare access. Thompson’s killing brought healthcare, which was rarely discussed in this year’s presidential debates, briefly into the feeds of millions of Americans. For a brief moment following Thompson’s murder, major media outlets propelled complaints against UnitedHealthcare to the forefront, including a class-action lawsuit accusing the company of using an algorithm that “ systematically den[ies] claims ” of Medicare plan holders. Below are many more examples of social media users’ reactions to the arrest of Luigi Mangione — I’ll let you decide whether they’re cruel or meritorious. We hope you enjoyed this article! Before you keep reading, please consider supporting Hyperallergic ’s journalism during a time when independent, critical reporting is increasingly scarce. Unlike many in the art world, we are not beholden to large corporations or billionaires. Our journalism is funded by readers like you , ensuring integrity and independence in our coverage. We strive to offer trustworthy perspectives on everything from art history to contemporary art. We spotlight artist-led social movements, uncover overlooked stories, and challenge established norms to make art more inclusive and accessible. With your support, we can continue to provide global coverage without the elitism often found in art journalism. If you can, please join us as a member today . Millions rely on Hyperallergic for free, reliable information. By becoming a member, you help keep our journalism free, independent, and accessible to all. Thank you for reading. 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Ruben Selles gets perfect response from Hull City with encouraging verdict despite frustration
