Snake River dam supporters cry foul as feds plan update to study that rejected breaching
NoneTexas Pacific Land Corp.'s stock has skyrocketed 198% this year as investors bet its land will be key for data center buildouts. The company owns 873,000 acres of land in the Permian Basin, an oil and gas hotspot in West Texas. Data centers require huge amounts of power, and tech giants are poised to spend billions amid the AI boom. Texas Pacific Land Corp. has been around for over a century, but its stock is just hitting a major stride now as investors bet it will reap the gains of the artificial intelligence boom. The landowner's stock has surged 198% so far this year to trade at $1,593.52 per share as of midday Monday, boasting a market cap of almost $37 billion. The stock gained 14% on Friday on news that it would replace Marathon Oil Corp. in the S&P 500. The company, based in Dallas, owns 873,000 acres of land in the Permian Basin, an oil and gas hot spot in West Texas. The huge swath of land is already home to bitcoin mines, renewable power assets, and large batteries. In such an oil-rich area where natural gas is cheap, investors are now betting that there's also a big opportunity for the company to benefit from the huge demand for power and space from tech giants scrambling to set up the data centers powering their artificial intelligence ambitions. Data centers require a massive amount of space and power to operate, and their electricity demand is primed to exceed supply in just two years, a recent estimate from Bernstein Research says. For tech giants looking to build data centers, Texas Pacific Land's sprawling acreage adjacent to a source of cheap and abundant energy would be prime real estate. "We feel that we're positioned as well as anyone in West Texas to provide land and water solutions as those opportunities unfold," CEO Tyler Glover said this month in a call with investors, referring to opportunities to lease land for data centers. "TPL just has a lot of positive attributes for data centers," Glover said. "Nobody has more land than us in West Texas." Companies like Alphabet, Microsoft, Amazon, and Meta are expected to spend over $200 billion on AI infrastructure next year, Bloomberg data shows. The company was founded in 1888 to repay bondholders of a failed railroad venture and has become a major corporation since. The land's value shot up amid a shale frenzy at the start of the 21st century. The company earns money from oil and gas royalties from producers like Exxon Mobil and Chevron, leasing land to drillers, handling wastewater disposal, and selling water to frackers. It's recently expanded to accommodate bitcoin mines and renewable power projects, too. The land in the basin is so abundant with oil that it produces huge amounts of natural gas that often completely fills pipelines. Gas prices in the area turned negative at several points this year.The Shark Robot Vacuum and Mop is 50% Off on Amazon, New All-Time Low
Mickey, Minnie, Goofy and WembySenators looking to acquire a defenseman after injury to Artem Zub
HAUPPAUGE, N.Y., Nov. 26, 2024 (GLOBE NEWSWIRE) -- AmpliTech Group, Inc. (Nasdaq: AMPG, AMPGW) (the "Company”), a designer, developer, and manufacturer of state-of-the-art signal processing components for satellite, Public and Private 5G, and other communications networks, including the design of complete 5G/6G systems and a global distributor of packages and lids for integrated circuits assembly, today announced it has closed on its previously announced registered direct offering for the sale of 1,603,259 shares of common stock (or pre-funded warrants in lieu thereof) ("the Securities”) at an offering price of $0.92 per share. The gross proceeds to the Company from the registered direct offering were approximately $1,475,000 before deducting the placement agent's fees and other offering expenses. Maxim Group LLC acted as the sole placement agent in connection with the offering. The Securities were offered pursuant to a shelf registration statement on Form S-3 (File No. 333-278657), which was declared effective by the U.S. Securities and Exchange Commission (the "SEC”) on April 24, 2024. The offering was made only by means of a prospectus supplement that forms a part of such registration statement. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of these Securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. A prospectus supplement relating to the Securities offered in the registered direct offering was filed by the Company with the SEC. Copies of the prospectus supplement relating to the registered direct offering, together with the accompanying prospectus, can be obtained at the SEC's website at www.sec.gov or from Maxim Group LLC, 300 Park Avenue, New York, NY 10022, Attention: Syndicate Department, or via email at [email protected] or telephone at (212) 895-3500. About AmpliTech Group AmpliTech Group, Inc., comprising five divisions-AmpliTech Inc., Specialty Microwave, Spectrum Semiconductors Materials, AmpliTech Group Microwave Design Center, and AmpliTech Group True G Speed Services is a leading designer, developer, manufacturer, and distributor of cutting-edge radio frequency (RF) microwave components and 5G network solutions. Serving global markets, including satellite communications, telecommunications (5G & IoT), space exploration, defense, and quantum computing, AmpliTech Group is committed to advancing technology and innovation. Forward-Looking Statements All statements in this release that are not based on historical fact are "forward-looking statements” including within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The information in this announcement may contain forward-looking statements and information related to, among other things, statements regarding the Company, its business plan and strategy, and its industry. Such forward statements include, but are not limited to, that the booking of orders and anticipation of booking of orders, including LNB and 5G products and Fujitsu Spain, will lead to sales of products, These statements reflect management's current views with respect to future events based on information currently available and are subject to risks and uncertainties that could cause the Company's actual results to differ materially from those contained in the forward-looking statements, including risks related to market conditions, and other risks described in the Company's filings with the SEC. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. The Company does not undertake any obligation to revise or update these forward-looking statements to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events. Contacts: Corporate Social Media Twitter: @AmpliTechAMPG Instagram: @AmpliTechAMPG Facebook: AmpliTechInc Linked In: AmpliTech Group Inc Investor Social Media Twitter: @AMPG_IR StockTwits: @AMPG_IR Company Contact: Jorge Flores Tel: 631-521-7831 [email protected]Jazz Corner: Alternate Jazz Masterpieces – Part 1
Known for their postgame hugs of each other , the goaltending tandem of Jeremy Swayman and Linus Ullmark became one of the best in the league over three seasons for the Boston Bruins. Unfortunately for the duo, with Swayman's emergence in the playoffs last season and Ullmark's pending free agency in 2025, Boston sent Ullmark to the Ottawa Senators in June for depth forward Mark Kastelic, backup goaltender Joonas Korpisalo and a first-round pick in 2024. However, things haven't gone to plan for the Senators (9-11-1) or Bruins (10-9-3) with their starting netminders this season. Swayman and Ullmark have struggled immensely, each sporting a save percentage below .890. Here is what has gone wrong for the netminders: Jeremy Swayman's holdout The Bruins, who host the Vancouver Canucks on Tuesday night, decided in the offseason that Swayman would be their full-time starter, but they still had to sign the restricted free agent to a new contract. Unfortunately for Boston, that didn't come easily. Swayman held out until Oct. 6, two days before the Bruins' opener against Florida. After missing all of training camp and preseason, Swayman struggled in his first regular-season game, stopping just 20 of 24 shots in a 6-4 win over the Montreal Canadiens. Swayman's struggles could be attributed to the lack of preseason games that would've allowed him to ease back into the swing of things. Too many games to handle? Although Ullmark won the Vezina Trophy as the league's best goaltender in 2022-23, he only started 48 games, the lowest number of games started for a Vezina Trophy winner in a non-shortened season. In the three seasons Swayman and Ullmark were teammates with the Briuns, Swayman played 122 games and Ullmark 130, a near-even split. After spending three seasons in a tandem, perhaps neither goalie was prepared for a full-time starter role. Typically, a starting goaltender plays 50 or more games during a regular season. For Ullmark, the 48 games he started for Boston in 2022-23 were a career high. What the analytics say In addition to their poor save percentages, analytics also show that Swayman and Ullmark aren't necessarily victims of poor team defense in front of them. Ottawa, which plays next at San Jose on Wednesday, and Boston are fifth and 14th in shots against per game, respectively. When it comes to goals saved above expected , Swayman is the eighth-worst goalie in the league with a -6.5 mark, while Ullmark is 10th worst with -5.7. Ullmark is even worse in five-versus-five situations, ranking last among goaltenders with an -8.6 5v5 goals saved above expected. Swayman sports a -0.9 figure. Additionally, when it comes to their value provided to their teams, both Ullmark and Swayman have a negative 5v5 Wins Above Replacement, per MoneyPuck . Ullmark's is a league worst -1.43 while Swayman's is a -0.15. Can they turn things around? With both teams sitting outside the playoff picture, they'll need their netminders to return to form to make it to the postseason. Swayman's November was an improvement from October, albeit slight (.890 save percentage to .884 save percentage in October). On the flip side, Ullmark's has played worse, going from .904 to just .864 save percentage. Given their play before this season, it's likely that both find their form. However, if Swayman and Ullmark don't bounce back soon, Boston could be out of the playoffs for the first time since 2016, and Ottawa will miss the playoffs for the eighth straight season.The world stands at the dawn of a “third nuclear age” in which Britain is threatened by multiple dilemmas, the head of the armed forces has warned. But alongside his stark warning of the threats facing Britain and its allies, Admiral Sir Tony Radakin said there would be only a “remote chance” Russia would directly attack or invade the UK if the two countries were at war. The Chief of the Defence Staff laid out the landscape of British defence in a wide-ranging speech, after a minister warned the Army would be wiped out in as little as six months if forced to fight a war on the scale of the Ukraine conflict. The admiral cast doubt on the possibility as he gave a speech at the Royal United Services Institute (Rusi) defence think tank in London. He told the audience Britain needed to be “clear-eyed in our assessment” of the threats it faces, adding: “That includes recognising that there is only a remote chance of a significant direct attack or invasion by Russia on the United Kingdom, and that’s the same for the whole of Nato.” Moscow “knows the response will be overwhelming”, he added, but warned the nuclear deterrent needed to be “kept strong and strengthened”. Sir Tony added: “We are at the dawn of a third nuclear age, which is altogether more complex. It is defined by multiple and concurrent dilemmas, proliferating nuclear and disruptive technologies and the almost total absence of the security architectures that went before.” The first nuclear age was the Cold War, while the second was “governed by disarmament efforts and counter proliferation”, the armed forces chief said. He listed the “wild threats of tactical nuclear use” by Russia, China building up its weapon stocks, Iran’s failure to co-operate with a nuclear deal, and North Korea’s “erratic behaviour” among the threats faced by the West. But Sir Tony said the UK’s nuclear arsenal is “the one part of our inventory of which Russia is most aware and has more impact on (President Vladimir) Putin than anything else”. Successive British governments had invested “substantial sums of money” in renewing nuclear submarines and warheads because of this, he added. The admiral described the deployment of thousands of North Korean soldiers on Ukraine’s border alongside Russian forces as the year’s “most extraordinary development”. He also signalled further deployments were possible, speaking of “tens of thousands more to follow as part of a new security pact with Russia”. Defence minister Alistair Carns earlier said a rate of casualties similar to Russia’s invasion of Ukraine would lead to the army being “expended” within six to 12 months. He said it illustrated the need to “generate depth and mass rapidly in the event of a crisis”. In comments reported by Sky News, Mr Carns, a former Royal Marines colonel, said Russia was suffering losses of around 1,500 soldiers killed or injured a day. “In a war of scale – not a limited intervention, but one similar to Ukraine – our Army for example, on the current casualty rates, would be expended – as part of a broader multinational coalition – in six months to a year,” Mr Carns said in a speech at Rusi. He added: “That doesn’t mean we need a bigger Army, but it does mean you need to generate depth and mass rapidly in the event of a crisis.” Official figures show the Army had 109,245 personnel on October 1, including 25,814 volunteer reservists. Mr Carns, the minister for veterans and people, said the UK needed to “catch up with Nato allies” to place greater emphasis on the reserves. The Prime Minister’s official spokesman said Defence Secretary John Healey had previously spoken about “the state of the armed forces that were inherited from the previous government”. The spokesman said: “It’s why the Budget invested billions of pounds into defence, it’s why we’re undertaking a strategic defence review to ensure that we have the capabilities and the investment needed to defend this country.”
ATLANTA , Dec. 23, 2024 /PRNewswire/ -- KORE Group Holdings, Inc. (NYSE: KORE) ("KORE" or the "Company"), the global pure-play Internet of Things ("IoT") hyperscaler and provider of IoT Connectivity, Solutions, and Analytics, today announced it has received notification (the "Acceptance Letter") from the New York Stock Exchange (the "NYSE") that the NYSE has accepted the Company's previously-submitted plan (the "Plan") to regain compliance with the NYSE's continued listing standards set forth in Section 802.01B of the NYSE Listed Company Manual relating to minimum market capitalization and stockholders' equity. In the Acceptance Letter, the NYSE granted the Company an 18-month period from September 12, 2024 (the "Plan Period") to regain compliance with the continued listing standards. As part of the Plan, the Company is required to provide the NYSE quarterly updates regarding its progress towards the goals and initiatives in the Plan. In the Plan, Kore included details regarding previously reported operational restructuring activities, as well as an outlook on the Company's business. The Company expects its common stock will continue to be listed on the NYSE during the Plan Period, subject to the Company adherence to the Plan and compliance with other applicable NYSE continued listing standards. The Company's receipt of such notification from the NYSE does not affect the Company's business, operations or reporting requirements with the U.S. Securities and Exchange Commission. Cautionary Note on Forward-Looking Statements This press release includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "believe," "guidance," "project," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding expected progress with the Company's compliance plan submitted to the NYSE, expected compliance with continued listing standards of the NYSE and expected continued listing of the Company's common stock on the NYSE. These statements are based on various assumptions and on the current expectations of KORE's management. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by any investor or other person as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of KORE. These forward-looking statements are subject to a number of risks and uncertainties, including general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; the potential effects of COVID-19; risks related to the rollout of KORE's business and the timing of expected business milestones; risks relating to the integration of KORE's acquired companies, including the acquisition of Twilio's IoT business, changes in the assumptions underlying KORE's expectations regarding its future business; our ability to negotiate and sign a definitive contract with a customer in our sales funnel; our ability to realize some or all of estimates relating to customer contracts as revenue, including any contractual options available to customers or contractual periods that are subject to termination for convenience provisions; the effects of competition on KORE's future business; and the outcome of judicial proceedings to which KORE is, or may become a party. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that KORE presently does not know or that KORE currently believes are immaterial that could also cause actual results to differ materially from those contained in the forward-looking statements. In addition, forward-looking statements reflect KORE's expectations, plans or forecasts of future events and views as of the date of this press release. KORE anticipates that subsequent events and developments will cause these assessments to change. However, while KORE may elect to update these forward-looking statements at some point in the future, KORE specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing KORE's assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements. KORE Investor Contact: Vik Vijayvergiya Vice President, IR, Corporate Development and Strategy vvijayvergiya@korewireless.com (770) 280-0324 View original content to download multimedia: https://www.prnewswire.com/news-releases/kore-announces-nyse-acceptance-of-plan-to-regain-listing-compliance-302338621.html SOURCE KORE Group Holdings, Inc.NEW YORK, Nov. 26, 2024 (GLOBE NEWSWIRE) -- At the end of the settlement date of November 15, 2024, short interest in 3,070 Nasdaq Global Market SM securities totaled 11,973,515,318 shares compared with 12,172,949,545 shares in 3,083 Global Market issues reported for the prior settlement date of October 31, 2024. The mid-November short interest represents 2.25 days compared with 3.02 days for the prior reporting period. Short interest in 1,668 securities on The Nasdaq Capital Market SM totaled 2,044,997,906 shares at the end of the settlement date of November 15, 2024, compared with 2,128,624,815 shares in 1,664 securities for the previous reporting period. This represents a 1.00 day average daily volume; the previous reporting period's figure was 1.05 In summary, short interest in all 4,738 Nasdaq ® securities totaled 14,018,513,224 shares at the November 15, 2024 settlement date, compared with 4,747 issues and 14,301,574,360 shares at the end of the previous reporting period. This is 1.83 days average daily volume, compared with an average of 2.36 days for the prior reporting period. The open short interest positions reported for each Nasdaq security reflect the total number of shares sold short by all broker/dealers regardless of their exchange affiliations. A short sale is generally understood to mean the sale of a security that the seller does not own or any sale that is consummated by the delivery of a security borrowed by or for the account of the seller. For more information on Nasdaq Short interest positions, including publication dates, visit http://www.nasdaq.com/quotes/short-interest.aspx or http://www.nasdaqtrader.com/asp/short_interest.asp . About Nasdaq: Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn , on X @Nasdaq , or at www.nasdaq.com . Media Contact: Jennifer Lawson [email protected] A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f227accd-cd52-4299-9a83-e3bcaa7a247c NDAQO
For many years, historians knew of only ten first-edition copies of Niccolò Machiavelli’s The Prince —the controversial 16th-century political treatise—all held by institutions. However, they recently learned of an 11th copy owned by a private collector, which is now heading to the auction block. Sotheby’s will sell the book at an upcoming Books & Manuscripts auction in London, where it could fetch as much as $375,000. The book was printed in 1532, five years after the author’s death. The dominant text inside is actually Machiavelli’s Florentine Histories , a lengthy chronicle of Florence commissioned by Pope Leo X . But experts are more interested in the book’s inclusion of The Prince , Machiavelli’s most famous work, which he wrote around 1513. “We were not aware of any other copies in private hands, and this is the first copy that we are aware of to have come to auction, certainly in recent decades,” Gabriel Heaton , Sotheby’s books and manuscripts specialist, tells CNN ’s Amarachi Orie. He adds that this particular first-edition copy of The Prince , which features an early 17th-century Italian binding, is “very interesting.” Per a statement from Sotheby’s, The Prince is “one of the most notorious and influential books of all time.” In the early 16th century, its author was a civic official in the Florentine Republic . But in 1512, the infamous Medici family regained power over Florence. Machiavelli was imprisoned and tortured on suspicion of conspiracy against the Medicis, and while exiled to his father’s property south of Florence, he wrote The Prince —which some consider the first modern treatise on political science. The Prince is essentially a “handbook for statesmen” that offers guidance on “how political rulers can stay in power,” as NPR ’s Sylvia Poggioli wrote on the treatise’s 500th anniversary in 2013. One of the work’s most famous lines is: “My view is that it is desirable to be both loved and feared; but it is difficult to achieve both and, if one of them has to be lacking, it is much safer to be feared than loved.” Machiavelli dedicated The Prince to Lorenzo di Piero de’ Medici , who ruled Florence between 1513 and 1519. The text circulated as a manuscript while Machiavelli was alive, and historians know that at least seven copies were made before its official publication in 1532 , per Sotheby’s. In 1559, the Catholic church banned The Prince ; it wouldn’t be published again in Italy until 1630. Since The Prince ’s publication , Machiavelli’s name has become “synonymous with political deceit, cynicism and the ruthless use of power,” as NPR wrote, though some scholars have argued that the philosopher doesn’t deserve this reputation. Today, the term “ Machiavellian ” is frequently used to describe deceitful actions taken in an attempt to gain power. “We have one of the great works of political theory of all time, one of the most famous books of the 16th century, and it’s a very first edition,” Heaton tells CNN. Sotheby’s is “delighted” to offer the “incredibly rare book,” he adds. This copy is also lightly annotated. An anonymous reader bracketed a section of text in chapter 18, which includes “some of The Prince ’s most strikingly modern pronouncements about the necessity for a savvy politician to manipulate the gulf between appearances and reality to his own ends,” per the statement. Get the latest stories in your inbox every weekday. Sonja Anderson | READ MORE Sonja Anderson is a writer and reporter based in New York City.
PREGNANT Charlotte Crosby has told fans 'my eyes sting from crying' after her terrifying armed robbery ordeal. The Geordie Shore star, 34, revealed she's having sleepless nights and feels 'unsettled and scared' following the horror break-in. 4 Charlotte Crosby has told fans 'my eyes sting from crying' after her terrifying armed robbery Credit: Instagram Taking to her Instagram Story this evening, Charlotte told how her daughter Alba, two, has been clinging to both her and her fiancé Jake Ankers in fear. The TV personality, who is expecting her second child next month, cradled her bump in her latest update, wearing black knitwear from her clothing line, Pepper Girls Club. Charlotte wrote in her caption, "Had a completely sleepless night last night with my little Alba. "She's not settled well since being back. I don't know whether that's because she's been away with us and we've all been together constantly or whether it's just because she's a little scared in the house since what happened. read more on Charlotte Crosby burglary hell Inside the terrifying crime wave sweeping reality stars’ homes CROS-WORD MasterChef’s Gregg Wallace branded ‘extremely unpleasant’ by Charlotte Crosby "She's stuck so close to both our sides when we have been home, and it's really not like her. She's normally running wild playing with all her toys." Charlotte admitted she is worried about Alba and is preparing for another sleepless night by her side. She said, "That girl is honestly my life. I'll just do anything to make her feel settled and safe." The reality star shared her exhaustion as she prepares to welcome her second daughter. Most read in Celebrity FOREVER YOUNG Emotional tribute at Aberdeen v Celtic as tragic hero remembered 20 years on CASH BACK Celtic 'in line to land £7m' as Manchester City prepare major transfer u-turn ROAD SMASH Cyclist rushed to hospital after hit-and-run in Scots town as cops hunt driver SHUTTERS DOWN Two restaurants in major Scots city close their doors for good Charlotte said, "It was my first day off in a while. I've been absolutely knackered. My eyes sting from having a little cry. "And it's gotten even colder! I'm having my baby next month, and I'm praying for some peace and calm." Pregnant Charlotte Crosby in floods of tears and says ‘it’s just so hard’ as she reveals huge mum guilt The frightening ordeal occurred last month when Charlotte was upstairs with Alba in their £1 million Sunderland home. Jake, 33, revealed on social media that a gang of masked robbers armed with machetes stormed inside their stunning mansion. The Sun later told how the pair have taken extra measures to make sure that they are free from danger. A source said: “It’s been a horrible week for them. "What happened really shook them up and Charlotte doesn’t feel safe at home. "They’ve hired close protection security for the house. “Charlotte’s pregnant so keeping her, the baby and their daughter safe is the priority. "They are taking no chances.” Just days after their scary ordeal, Charlotte was rushed to hospital, where it was revealed that she had a urine infection. The influencer posted some pictures of her medicine while in the car on the way home on her Snapchat Story. Charlotte said: "Thank the lord I have answers for the pain I was in. "Urine infection my little baby girl is all well strong and healthy!" Charlotte also wrote online: “I now have the BEST security in the northeast with man guards, security dogs and 24/7 surveillance. Read more on the Scottish Sun DECEMBER MISERY Scots face blizzards and travel chaos as weather map reveals 75mph storm CHOC OFF Mums fume at Poundland’s ‘rotten’ advent calendar they thought was ‘for dogs’ “I've been living in fear since last week. Not feeling safe in your own home with small children is really something else. “I've been trying my hardest to put what happened out of my head! And I'm sorry for being on here! It's just took some time dealing with everything that's gone on and then I was in hospital!” 4 Charlotte and her fiance Jake Ankers have hired security after their burglary ordeal Credit: Alamy 4 Charlotte and her two-year-old daughter Alba Credit: Instagram 4 The Geordie Shore star is having sleepless nights and feels 'unsettled and scared' Credit: InstagramGautam Adani, one of Asia’s top billionaires, is embroiled in an alleged bribery conspiracy and faces a firestorm of legal action from US to India, the most urgent of which could be a piling up of investor lawsuits, say lawyers. With criminal charges or action by the Securities and Exchange Commission, it’s very common that, within hours sometimes, investor lawsuits start pouring in, said William Devaney, partner at international law firm Baker & McKenzie LLP and a former federal prosecutor. “They tend to play out for years and often end up in settlements,” he added. From Avon to Petroleo Brasileiro SA, or Petrobras, companies have paid from a few million dollars to as much as $3 billion to settle securities suits under the US Foreign Corrupt Practices Act that claim financial loss due to material misstatement or breach of fiduciary duties. This and the civil action by SEC are likely to present more urgent liabilities for Adani than the criminal case. 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Without that the criminal case goes on hold but the defendant (Adani) becomes a “prisoner of his own country,” as he can be arrested outside India on an Interpol red notice that typically follows such charges, Devaney said. The SEC civil action can only result in monetary penalties and a ban on serving as officer or director of a US publicly traded company. There is also scope for a settlement. The US cases could also spark investigations in India. Irrespective of what the US authorities do, any Indian authority can investigate the matter if they so deem fit, said Sidharth Luthra, senior advocate and a former government lawyer. In the past, cases filed under foreign corruption laws against Indian entities have generated prosecutions by the Central Bureau of Investigation, Luthra said. These include Xerox Modicorp and De-Nocil Crop Protection. A corruption conviction could result in jail time. India’s securities regulator is also examining if Adani failed to make adequate disclosure of the US investigation against him. A violation of the disclosure rules can result in monetary penalties to board bans and restrictions on access to capital markets, depending on whether it was an omission or an effort to conceal. Here too a settlement is possible depending on the nature of the infraction. According to lawyers including Devaney, the timing of Adani’s indictment suggests the US Department of Justice might have been racing the end of the Biden administration. The new Trump administration has the power to seek dismissal of these charges, he said in a nod to speculation that the Trump-Modi relationship may spare Adani the blushes. But, even in a new administration, it would be extraordinary if these very serious charges which are now public just disappeared, Devaney said. (You can now subscribe to our Economic Times WhatsApp channel )