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2025-01-24
2025 is expected to be a robust year for mergers and acquisitions, and IPOs. Consequently, some investment banks are bulking up on hiring, industry recruiters say. Here's a look at which firms are staffing up and what sectors are seeing the most action. When John Weinberg, the chairman and CEO of the elite boutique investment bank Evercore , sat down for a fireside chat in December at an annual Goldman Sachs conference, he revealed that his firm has been ramping up hiring. Advertisement "Most of the time, you don't really do much recruiting in November or December," he told listeners — but this year has been different. "If you could see my schedule, you'd see that virtually every day I am speaking with and recruiting" new talent, he said. "You could probably anticipate that our recruiting efforts will increase, not decrease." Weinberg isn't the only Wall Street dealmaker for whom recruiting is top of mind. According to industry headhunters , hiring across the Street is expected to gain steam as 2025 gets underway. One headhunter said he's been so flooded with mandates as the end of the year approaches that his pipeline of work is up by as much as 70% over normal levels at this point in the year. Advertisement "We're probably up 60% to 70%," Kevin Mahoney, managing partner in the global financial-services practice at Christoph Zeiss Partners, told Business Insider. Next year is going to be "bonkers" in terms of hiring volumes, he said, adding: "We haven't been this busy in a long time." After several years of lackluster deal activity, Wall Street is finally starting to see signs of a thaw in mergers and public offerings . A cocktail of lower interest rates , pent-up demand, and expectations for a friendlier landscape under Trump has left many dealmakers across the Street feeling bullish about the 2025 prospects for 2025. Robert Stowe, head of Americas equity capital markets at Barclays, told BI that he predicts some $50 billion in IPO volumes in the US next year. That would be a roughly 20% increase from 2024's just over $41 billion worth of IPO volumes in the Americas, as recorded by the deal-tracking firm Dealogic. BI got an update on the latest investment-banking hiring trends from three top Wall Street headhunters: Mahoney; Meridith Dennes, managing director of recruiting at the firm Prospect Rock; and Brianne Sterling, head of the investment-banking recruiting practice at Selby Jennings. Advertisement Dennes said the industry's "musical chairs" will start to spike around January or February after bankers have received their bonuses. Many, she said, have gotten early hints about their bonus numbers this year and are privately grumbling. "Bonuses are not coming out as strong as we expected them to be, and I think the reason is because there's been so much hiring at the senior level and at the MD level," she explained. "A lot of that compensation pool may be spoken for." So, with moves on the way, which sectors will see the most activity? Here are a few key trends the headhunters say are worth watching in 2025. Advertisement The hot sectors Banks big and small are already dialing up recruiting for their technology, media, and telecommunications teams, known as TMT in Wall Street parlance. Related stories One reason, Mahoney said, is that those sectors are popular acquisition targets for financial sponsors. Indeed, private-equity firms are itching to deploy the billions they've raised from limited partners, but have been waiting for interest rates to decline. "Something that I think will be interesting within the tech space, as well, is how teams are looking at staffing and positioning" for AI deals , as well as deals for cryptocurrency and digital-assets companies that may consolidate over the next year, Sterling of Selby Jennings said. Advertisement Tech has been a major area for banker movement, said Dennes, who also named healthcare, restructuring, industrials, consumer retail, and financial institutions (FIG) as hot. According to some of the early findings of her firm Prospect Rock's annual compensation survey, bankers in tech and restructuring displayed the highest levels of dissatisfaction with pay. "Now, if they're not really paid," Dennes said, "they're going to want to jump — and there's opportunity for those folks to jump." Tech dealmakers on the move Union Square Advisors , a boutique technology-focused investment bank based in San Francisco, has onboarded a series of dealmakers recently, including tapping managing director Terry Jackson who previously worked at JPMorgan and Bank of America Securities. The firm also hired Todd Meadow to pitch in with sponsor coverage and brought on the banker Chris Appaneal to focus on software for governance, risk, and compliance. Advertisement Houlihan Lokey, a midsize firm long respected for its prowess in restructuring and distressed deals, has also been growing its wallet share in tech to win competitive M&A mandates. This spring, the bank appointed Ryan Lund as co-head of US technology. It's been deepening the granularity of its software coverage with subsequent hires, as well — like Nana Kyei, a managing director who joined from Jefferies this fall and focuses on education tech. Geoff Rhizor joined the tech team in San Francisco in late summer; his coverage, in part, intersects with the fintech group's. Barclays has also emphasized hiring managing directors focused on tech and healthcare deals, a company spokesperson told BI. Rob Patterson, who serves as head of data and information platforms coverage within tech investment banking, came over from Morgan Stanley. And the bank appointed David King, a former top-level banker at Bank of America, as global head of technology mergers and acquisitions this summer. Advertisement Big banks are staffing up Some banks have already initiated widespread recruiting plans for juniors. JPMorgan Chase , for instance, was engaged in a vigorous off-cycle recruiting spree for junior investment bankers as deal flow picked up speed this fall, according to industry sources and postings on its job board, as BI previously reported. Goldman Sachs' careers portal recently displayed roughly a dozen openings for junior bankers in New York, San Francisco, and London. Vacancies included analyst and associate positions in coverage groups like financial institutions, entertainment banking, TMT, and industrials, as well as product-focused functions like equity capital markets. Advertisement Bankers need fresh blood: 'Send them our way' The last time there was an M&A boom during the pandemic, many banks were caught unprepared and understaffed , resulting in complaints from overworked junior bankers. This time, Wall Street employers say they won't make the same mistake twice — and many are eyeing boosting their junior ranks in preparation, the recruiters said. Dennes expects an emphasis on associates and mid-level vice presidents to help juggle the ins and outs of executing the manifold deals coming down the pike. "Experienced bankers are always in demand," she said. "Anyone who has closed a couple of deals and is able to train junior staff is very valuable." Advertisement Dennes' firm, Prospect Rock, is currently working on filling four analyst roles, six associate roles, and two VP roles, postings on its website showed. Still, she doesn't see 2025 hiring following the same frenetic pattern it did during the pandemic-era M&A boom. "In 2021, you just needed bodies — more horsepower. This is very different," she said. Now, banks are markedly more vigilant in emphasizing quality over quantity. "Nobody wants a 2021, 2022 redo," she added. "A lot of those hires were not strong." Some senior dealmakers are already worried about short-staffing. A managing director at a Wall Street bank told BI he was confident that 2025 would deliver a volume of work comparable with 2021 levels, if perhaps not the same soaring valuations. Advertisement "Part of the conversation that we're going to have to think through is augmenting the team at the mid-level" to handle execution, he said. In this hiring market, though, "it's almost impossible" to find impressive associates or VPs, he cautioned. "Send them our way — because it's hard." Are you an investment-banking insider or do you have knowledge of industry moves on Wall Street? Get in touch with these reporters. Reed Alexander can be reached via email at ralexander@businessinsider.com or via the encrypted messaging app Signal at 561-247-5758 . Emmalyse Brownstein can be reached at ebrownstein@businessinsider.com or via Signal at 305-857-5516 .WILLIAMSBURG, Va. (AP) — Keller Boothby's 16 points helped William & Mary defeat Navy 82-76 on Sunday. Boothby went 6 of 8 from the field (4 for 6 from 3-point range) for the Tribe (6-7). Gabe Dorsey scored 16 points and added three steals. Noah Collier went 7 of 9 from the field to finish with 14 points, while adding seven rebounds. Austin Benigni finished with 16 points for the Midshipmen (3-10). Jinwoo Kim added 15 points for Navy. Donovan Draper had 14 points and seven rebounds. The loss was the Midshipmen's sixth in a row. Collier scored 10 points in the first half for William & Mary, who led 41-33 at the break. William & Mary took the lead for good with 3:03 left in the second half on a layup from Dorsey to make it a 73-71 game. The Associated Press created this story using technology provided by Data Skrive and data from Sportradar .golden empire jili slot png

Wall Street headhunters are gearing up for a 'bonkers' hiring market in 2025 — here's what to expectBURLINGTON, Mass. and FRISCO, Texas , Dec. 10, 2024 /PRNewswire/ -- Keurig Dr Pepper (NASDAQ: KDP) announced today that its Board of Directors has declared a regular quarterly cash dividend of $0.23 per share, payable in U.S. dollars, on the Company's common stock. The regular quarterly dividend will be paid on January 17, 2025 to shareholders of record on January 3, 2025 . Investor Contacts: Investor Relations T: 888-340-5287 / IR@kdrp.com Media Contact: Katie Gilroy T: 781-418-3345 / katie.gilroy@kdrp.com ABOUT KEURIG DR PEPPER Keurig Dr Pepper ( Nasdaq : KDP ) is a leading beverage company in North America , with a portfolio of more than 125 owned, licensed and partner brands and powerful distribution capabilities to provide a beverage for every need, anytime, anywhere. With annual revenue of approximately $15 billion , we hold leadership positions in beverage categories including soft drinks, coffee, tea, water, juice and mixers, and have the #1 single serve coffee brewing system in the U.S. and Canada . Our innovative partnership model builds emerging growth platforms in categories such as premium coffee, energy, sports hydration and ready-to-drink coffee. Our brands include Keurig ® , Dr Pepper ® , Canada Dry ® , Mott's ® , A&W ® , Snapple ® , Peñafiel ® , 7UP ® , Green Mountain Coffee Roasters ® , Clamato ® , Core Hydration ® and The Original Donut Shop ® . Driven by a purpose to Drink Well. Do Good., our 28,000 employees aim to enhance the experience of every beverage occasion and to make a positive impact for people, communities and the planet. For more information, visit www.keurigdrpepper.com and follow us on LinkedIn. View original content to download multimedia: https://www.prnewswire.com/news-releases/keurig-dr-pepper-declares-quarterly-dividend-302328016.html SOURCE Keurig Dr Pepper Inc.

Solana’s Comeback, Celestia’s Vision, and Qubetics’ 10% Discount Deadline Lead the Best Cryptos to Invest in Today

NEW YORK (AP) — President-elect Donald Trump’s recent dinner with Canadian Prime Minister Justin Trudeau and his visit to Paris for the reopening of the Notre Dame Cathedral were not just exercises in policy and diplomacy. They were also prime trolling opportunities for Trump. Throughout his first term in the White House and during his campaign to return, Trump has spun out countless provocative, antagonizing and mocking statements. There were his belittling nicknames for political opponents, his impressions of other political figures and the plentiful memes he shared on social media. Now that's he's preparing to return to the Oval Office, Trump is back at it, and his trolling is attracting more attention — and eyerolls. On Sunday, Trump turned a photo of himself seated near a smiling first lady Jill Biden at the Notre Dame ceremony into a social media promo for his new perfume and cologne line, with the tag line, “A fragrance your enemies can’t resist!” The first lady’s office declined to comment. When Trudeau hastily flew to Florida to meet with Trump last month over the president-elect's threat to impose a 25% tax on all Canadian products entering the U.S., the Republican tossed out the idea that Canada become the 51st U.S. state. The Canadians passed off the comment as a joke, but Trump has continued to play up the dig, including in a post Tuesday morning on his social media network referring to the prime minister as “Governor Justin Trudeau of the Great State of Canada.” After decades as an entertainer and tabloid fixture, Trump has a flair for the provocative that is aimed at attracting attention and, in his most recent incarnation as a politician, mobilizing fans. He has long relished poking at his opponents, both to demean and minimize them and to delight supporters who share his irreverent comments and posts widely online and cheer for them in person. Trump, to the joy of his fans, first publicly needled Canada on his social media network a week ago when he posted an AI-generated image that showed him standing on a mountain with a Canadian flag next to him and the caption “Oh Canada!” After his latest post, Canadian Immigration Minister Marc Miller said Tuesday: “It sounds like we’re living in a episode of South Park." Trudeau said earlier this week that when it comes to Trump, “his approach will often be to challenge people, to destabilize a negotiating partner, to offer uncertainty and even sometimes a bit of chaos into the well established hallways of democracies and institutions and one of the most important things for us to do is not to freak out, not to panic.” Even Thanksgiving dinner isn't a trolling-free zone for Trump's adversaries. On Thanksgiving Day, Trump posted a movie clip from “National Lampoon’s Christmas Vacation” with President Joe Biden and other Democrats’ faces superimposed on the characters in a spoof of the turkey-carving scene. The video shows Trump appearing to explode out of the turkey in a swirl of purple sparks, with the former president stiffly dancing to one of his favorite songs, Village People’s “Y.M.C.A." In his most recent presidential campaign, Trump mocked Florida Gov. Ron DeSantis, refusing to call his GOP primary opponent by his real name and instead dubbing him “Ron DeSanctimonious.” He added, for good measure, in a post on his Truth Social network: “I will never call Ron DeSanctimonious ‘Meatball’ Ron, as the Fake News is insisting I will.” As he campaigned against Biden, Trump taunted him in online posts and with comments and impressions at his rallies, deriding the president over his intellect, his walk, his golf game and even his beach body. After Vice President Kamala Harris took over Biden's spot as the Democratic nominee, Trump repeatedly suggested she never worked at McDonalds while in college. Trump, true to form, turned his mocking into a spectacle by appearing at a Pennsylvania McDonalds in October, when he manned the fries station and held an impromptu news conference from the restaurant drive-thru. Trump’s team thinks people should get a sense of humor. “President Trump is a master at messaging and he’s always relatable to the average person, whereas many media members take themselves too seriously and have no concept of anything else other than suffering from Trump Derangement Syndrome,” said Steven Cheung, Trump’s communications director. “President Trump will Make America Great Again and we are getting back to a sense of optimism after a tumultuous four years.” Though both the Biden and Harris campaigns created and shared memes and launched other stunts to respond to Trump's taunts, so far America’s neighbors to the north are not taking the bait. “I don’t think we should necessarily look on Truth Social for public policy,” Miller said. Gerald Butts, a former top adviser to Trudeau and a close friend, said Trump brought up the 51st state line to Trudeau repeatedly during Trump’s first term in office. “Oh God,” Butts said Tuesday, “At least a half dozen times.” “This is who he is and what he does. He’s trying to destabilize everybody and make people anxious,” Butts said. “He’s trying to get people on the defensive and anxious and therefore willing to do things they wouldn’t otherwise entertain if they had their wits about them. I don’t know why anybody is surprised by it.” Gillies reported from Toronto. Associated Press writer Darlene Superville contributed to this report.Woman killed in crash as officer responds to threat at Rep. Marjorie Taylor Greene's homeJimmy Carter: Many evolutions for a centenarian ‘citizen of the world’

Insurgents reach gates of Syria’s capital, threatening to upend decades of Assad rule

A winless run through the Maui Invitational led to predictions of UConn’s demise after two straight national championships. Not so fast. Re-energized by a return trip home, the Huskies showed they’re still a formidable team with an impressive win over Baylor. UConn carried the momentum from that to Austin, where the Huskies beat Texas by 11. The pair of victories held a lot of sway with AP Top 25 voters, who moved the Huskies up seven spots to No. 18 in this week’s poll. “Maybe the people with the shovels and the dirt, maybe they were too quick to grab the shovel and throw the dirt on us,” UConn coach Dan Hurley said. The Huskies have another big game on Saturday, facing No. 8 Gonzaga at Madison Square Garden. The Zags have some impressive wins this season, including a blowout of Baylor and two victories at The Battle 4 Atlantis. Gonzaga is coming off one of college basketball’s best games of the early season, a 90-89 loss to No. 5 Kentucky in Seattle. Both teams will have at least six days to prepare for the game in the Garden, so it will likely be must-watch TV. Surging Cyclones Iowa State had its highest preseason ranking at No. 5 and, after a two-point loss to No. 2 Auburn, have climbed to their highest ranking in decades. The Cyclones beat No. 6 Marquette by 11 and blew out Jackson State, earning them a No. 3 ranking in this week’s poll — highest since 1956-57. Keshon Gilbert was named the Big 12 player of the week after scoring 24 points and adding seven assists in the win over Marquette. Iowa State has what should be an emotional game on Thursday, playing at rival Iowa. The Hawkeyes are off to a solid start at 7-2, but are coming off a two-point loss No. 14 Michigan. Vols on top Tennessee lost four starters from last year’s SEC championship team, but it has done nothing to slow the Vols down. Led by dynamic senior guard Chaz Lanier, Tennessee (8-0) is off to its best start since opening the 2000-01 season 9-0 and is No. 1 in the NET rankings. The Vols moved to No. 1 for the first time since 2018-19 season, moving up two spots after Kansas lost twice and Auburn lost to No. 4 Duke. “It doesn’t mean a whole lot other than its a compliment to the start we’ve gotten off to and it’s a compliment to them,” Vols coach Rick Barnes said. “They’ve certainly worked hard and they want to be No. 1, but they want to be No. 1 at the end of the year.” Tennessee kicked off its first week at No. 1 against Miami at Madison Square Garden on Tuesday, then heads to Champaign to face a tough Illinois team on Saturday. Aggies and Boilermakers No. 11 Purdue has handled losing two-time AP player of the year Zach Edey quite well. The Boilermakers already have wins over two ranked teams — No. 7 Alabama and No. 19 Ole Miss — and big man Trey Kaufman-Renn has been superb, averaging 18.9 points and 6.7 rebounds per game. Purdue gets another ranked team at home on Saturday. No. 17 Texas A&M opened the season with a loss to UCF, but has wins over Ohio State and Creighton. The Aggies knocked off Texas Tech in their last game and have one of the Big 12’s best guards in Wade Taylor IV, who’s averaging 16.1 points, 4.5 assists and 3.5 rebounds per game. Ratings variations The NET rankings released by the NCAA on Monday matched AP voters with Tennessee and Auburn at 1-2. KenPom came to a different conclusion, rating the Tigers ahead of the Vols. Bart Torvik came to a different conclusion completely, rating Houston — No. 15 in the AP poll — at No. 1, followed by Duke. Auburn was No. 3 and Tennessee right behind. The NET was much higher on Gonzaga, ranking the Zags third while they’re No. 8 in the AP poll. KenPom has Gonzaga fourth, behind Duke, with Bart Torvik putting the Zags fifth. Be the first to know Get local news delivered to your inbox!Osisko Metals Acquires Additional Claims Near Gaspé CopperWith Syrian rebels edging ever-closer to the capital, President Bashar Assad is making a last-ditch attempt to remain in power, including indirect diplomatic overtures to the U.S. and President-elect Donald Trump, according to people with direct knowledge of the situation. Assad is ordering his army to fall back to defend Damascus, essentially ceding much of the country to insurgents, who seized the major cities of Aleppo and Hama in a lightning offensive over the past week. They’re now on the outskirts of Homs, less than 100 miles to the north. As his remaining troops dig in, Syria’s longtime ruler is signaling his willingness to reach a deal that would allow him to hold on to the rump territory his army controls, or guarantee his safe passage into exile if needed, said the people. They spoke on condition of anonymity to discuss secret meetings. One offer Assad made to the U.S. via the United Arab Emirates is for Syria to cut all involvement with Iran-backed militant groups, such as Hezbollah, if Western powers wield influence to stem the fighting, the people said. Another initiative saw Assad dispatch a senior Christian leader to meet Hungarian Prime Minister Viktor Orban to relay what he sees as an existential threat to Syria’s Christian minority if Islamist rebels prevail, according to other people familiar with the plan. The intention was that Orban, a Trump ally, would convey this danger to the incoming U.S. president, they said. Trump, who finds himself in Paris, has responded to events on the ground. He took to X to say: “There was never much of a benefit in Syria for Russia, other than to make Obama look really stupid. In any event, Syria is a mess, but is not our friend, & THE UNITED STATES SHOULD HAVE NOTHING TO DO WITH IT. THIS IS NOT OUR FIGHT. LET IT PLAY OUT. DO NOT GET INVOLVED!” It’s a dramatic turn of events for a dynasty that’s ruled Syria with an iron fist for half a century, crushed peaceful protests in 2011 and clung to power through years of civil war that spurred one of the worst humanitarian crises of modern times. Iranian and Russian military support was crucial to the survival of the 59-year-old president, but both are now distracted and stretched thin by other conflicts. “Assad is in huge danger — it’s almost like in 2015 when the insurgents were at the gates of Damascus,” said Sergei Markov, a political consultant close to the Kremlin, referring to the year Russia intervened to save him. Western nations were equally surprised, including the US, which had largely relinquished much of its influence in Syria to Iran, Russia and Turkey but has reacted to protect its interests, according to senior officials. Multiple Western officials said it was difficult to see Assad remaining in power. The fall of Homs, Syria’s third-largest city, could cut the highway linking Damascus and the country’s west and Mediterranean coast — the stronghold of the Assads and loyalists from their Alawite sect. South of Damascus, rebels have seized parts of Daraa province bordering Jordan and in the capital residents of some districts took to the streets and tore down billboards of Assad. In one area people destroyed a statue of Assad’s father Hafez. The president’s whereabouts are unclear, although he’s believed to be in Damascus or his hometown of Qardaha, close to Russia’s Khmeimim air base. It’s also possible he’s in the Iranian capital, Tehran, a person familiar with U.S. policy said Saturday. Assad’s office issued a statement condemning “rumors and fake news,” saying the president remains in the capital. Assad has ordered the bulk of Syria’s remaining army — estimated at between 30,000 to 40,000 fighters — to rush to defend Damascus, according to two people familiar with the matter. An army spokesman said in a TV address on Saturday that it was strengthening its defenses in the countryside around the city. The main rebel offensive has been led by Hayat Tahrir al-Sham, or HTS, a former al-Qaida affiliate, and various armed groups backed by Turkey. Other fighters have joined in, including army defectors who’d fought the regime and laid down arms in previous ceasefires, said the people. As rebels converge on Damascus from the north and south, Iran has drawn back its presence in Syria, leaving its military advisers concentrated around the capital, according to the people. Some Tehran-backed Iraqi militias have also returned to their country after the government ceded the eastern city of Deir Ezzor to U.S.-backed Kurdish fighters, they said. Russian personnel now remain mainly around the capital and at the Khmeimim air base and Tartous naval base, they said. After a meeting with his Iranian and Turkish counterparts in Doha on Saturday, Russian Foreign Minister Sergei Lavrov said Moscow is “trying to do everything not to allow terrorists to prevail.” “We don’t want them to follow the fate of Iraqis, Libyans and other nations who were disturbed by the people desiring to keep their domination,” he said. Trump said Saturday a withdrawal from Syria might “be the best thing that can happen” to Russia and that troops shouldn’t get involved in the fighting. Back channels Russia has launched airstrikes around Homs to try and stall the rebel advance. But with signs the Kremlin’s help may not be enough, Assad is pressing on with back-channel negotiations. A key goal would be retaining control of a portion of the country and addressing Turkey’s demands for a political transition and the potential return of millions of Syrian refugees, a major issue for Ankara. Assad is also proposing a new constitution and talks with the mostly exiled political opposition, according to the people familiar with the outreach. It’s unclear if the efforts will bear fruit. Events on the battlefield have their own momentum, and even countries such as Turkey that have influence over the rebels may not be able to fully control events. “I don’t think any of these outside powers have the leverage over their proxies to change the course of what is happening on the ground,” said Andreas Krieg, director of London-based MENA Analytica Ltd. “At this moment most bets are that the Assad regime may not be able to hold out.” Patriarch visit It was against that backdrop that Assad sent Syriac Orthodox Patriarch Ignatius Aphrem II to Hungary on Monday to relay his fears. Syria’s Christian community makes up about 10% of the country’s 24 million population. The plan to have Orban relate this message to Trump was described by an aide to the patriarch and another person with knowledge of the encounter. People close to Trump couldn’t immediately comment, but said he had dispatched his in-law and Middle East adviser, Massad Boulos, to the UAE on Saturday to discuss the situation in the region. Assad has pursued similar tactics before. HTS leader Abu Mohammed al-Golani and other rebels have in recent days attempted to allay the fears of Christians and Syria’s other minorities that they envision a form of Islamic rule. Assad’s own Alawite community, which has stuck by him since 2011 and paid a heavy price to defend the regime, also appears to sense the end may be near. Nariman, an Alawite woman reached by phone in Damascus on Friday said she, her husband who’s in the security forces and their 23-year-old son were fleeing to their ancestral village near Jableh in western Syria. She said there were many families like hers. Nobody is going to fight for Assad this time, she said, asking not to be identified by her last name for reasons of safety. ©2024 Bloomberg L.P. Visit bloomberg.com. Distributed by Tribune Content Agency, LLC.

SAN DIEGO , Dec. 29, 2024 /PRNewswire/ -- The law firm of Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Wolfspeed, Inc. (NYSE: WOLF ) securities between August 16, 2023 and November 6, 2024 , all dates inclusive (the "Class Period"), have until Friday, January 17, 2025 to seek appointment as lead plaintiff of the Wolfspeed class action lawsuit. Captioned Zagami v. Wolfspeed, Inc. , No. 24-cv-01395 (N.D.N.Y.), the Wolfspeed class action lawsuit charges Wolfspeed as well as certain of Wolfspeed's executives with violations of the Securities Exchange Act of 1934. If you suffered substantial losses and wish to serve as lead plaintiff of the Wolfspeed class action lawsuit, please provide your information here: https://www.rgrdlaw.com/cases-wolfspeed-class-action-lawsuit-wolf.html You can also contact attorneys J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at [email protected] . CASE ALLEGATIONS : Wolfspeed operates as a bandgap semiconductor company that focuses on silicon carbide and gallium nitride (GaN) technologies. The Wolfspeed class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Wolfspeed's optimistic claims of potential growth of its Mohawk Valley fabrication facility and general demand for Wolfspeed's 200mm wafers in the electronic vehicle market fell short of reality; and (ii) Wolfspeed had overstated demand for its key product and placed undue reliance on purported design wins while the Mohawk Valley facility's growth had begun to taper before recognizing the $100 million revenue per quarter allegedly achievable with only 20% utilization of the fabrication, let alone the promised $2 billion revenue purportedly achievable by the facility. The Wolfspeed class action lawsuit further alleges that on November 6, 2024 , Wolfspeed announced its financial results for the first quarter of fiscal year 2025, revealing that 20% utilization of the Mohawk Valley fabrication facility would result in 30% to 50% below the $100 million mark defendants had claimed, attributing the results and lowered guidance to "demand . . . ramp[ing] more slowly than we originally anticipated" as "EV customers revise their launch time lines as the market works through this transition period." On this news, the price of Wolfspeed stock fell more than 39%, according to the complaint. THE LEAD PLAINTIFF PROCESS : The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Wolfspeed securities during the Class Period to seek appointment as lead plaintiff in the Wolfspeed class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Wolfspeed class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Wolfspeed class action lawsuit. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Wolfspeed class action lawsuit. ABOUT ROBBINS GELLER : Robbins Geller Rudman & Dowd LLP is one of the world's leading law firms representing investors in securities fraud cases. Our Firm has been #1 in the ISS Securities Class Action Services rankings for six out of the last ten years for securing the most monetary relief for investors. We recovered $6.6 billion for investors in securities-related class action cases – over $2.2 billion more than any other law firm in the last four years. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs' firms in the world and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information: https://www.rgrdlaw.com/services-litigation-securities- fraud .html Past results do not guarantee future outcomes. Services may be performed by attorneys in any of our offices. Contact: Robbins Geller Rudman & Dowd LLP J.C. Sanchez, Jennifer N. Caringal 655 W. Broadway, Suite 1900, San Diego, CA 92101 800-449-4900 [email protected] SOURCE Robbins Geller Rudman & Dowd LLP

Bloomberg: Apple ‘investigating’ bringing cellular to the Mac for the first timeClippers’ Kawhi Leonard practices for first time this season

South Korea's embattled President Yoon Suk Yeol avoided an opposition-led attempt to impeach him over his short-lived imposition of martial law, as most ruling party lawmakers boycotted a parliamentary vote Saturday to deny a two-thirds majority needed to suspend his presidential powers. The scrapping of the motion is expected to intensify protests calling for Mr. Yoon's ouster and deepen political chaos in South Korea, with a survey suggesting a majority of South Koreans support the president's impeachment. Mr. Yoon's martial law declaration drew criticism from his own ruling conservative People Power Party, but the party is also determined to oppose Mr. Yoon's impeachment apparently because it fears losing the presidency to liberals. After the motion fell through, members of the main liberal opposition Democratic Party rallied inside the National Assembly, chanting slogans calling for Mr. Yoon's impeachment or resignation. The party's floor leader, Park Chan-dae, said it will soon prepare for a new impeachment motion. Opposition parties could submit a new impeachment motion after a new parliamentary session opens next Wednesday. "We'll surely impeach Mr. Yoon Suk Yeol, who is the greatest risk to Republic of Korea," party leader Lee Jae-myung said. "We'll surely bring back this country to normal before Christmas Day or year's end." Many experts worry Mr. Yoon won't be able to serve out his remaining 2 1⁄2 years in office. They say some PPP lawmakers could eventually join opposition parties' efforts to impeach Mr. Yoon if public demands for it grow further. The ruling party risks "further public outrage and national confusion if they don't find a formula fast for Mr. Yoon's departure," said Duyeon Kim, a senior analyst at the Center for a New American Security in Washington. PPP chair Han Dong-hun said his party will seek Mr. Yoon's "orderly" early exit but didn't say when he can resign. Protests against Mr. Yoon are swelling On Saturday, tens of thousands of people packed several blocks of roads leading to the National Assembly, waving banners, shouting slogans and dancing. Protesters also gathered in front of PPP's headquarters near the Assembly, shouting for its lawmakers to vote to impeach Mr. Yoon. A smaller crowd of Mr. Yoon's supporters, which still seemed to be in the thousands, rallied elsewhere in Seoul, calling the impeachment attempt unconstitutional. Impeaching Mr. Yoon required support from 200 of the National Assembly's 300 members. The Democratic Party and five other small opposition parties, which filed the motion, have 192 seats combined. But only three lawmakers from PPP participated in the vote. The motion was scrapped without ballot counting because the number of votes didn't reach 200. National Assembly Speaker Woo Won Shik called the result "very regrettable" and an embarrassing moment for the country's democracy. If Mr. Yoon is impeached, his powers will be suspended until the Constitutional Court decides whether to remove him from office. If he is removed, an election to replace him must take place within 60 days. The president apologizes for turmoil Earlier Saturday, Mr. Yoon issued an apology over the martial law decree, saying he won't shirk legal or political responsibility for the declaration and promising not to make another attempt to impose it. He said would leave it to his party to chart a course through the country's political turmoil, "including matters related to my term in office." "The declaration of this martial law was made out of my desperation. But in the course of its implementation, it caused anxiety and inconveniences to the public. I feel very sorry over that and truly apologize to the people who must have been shocked a lot," Mr. Yoon said. Since taking office in 2022, Mr. Yoon has struggled to push his agenda through an opposition-controlled parliament and grappled with low approval ratings amid scandals involving himself and his wife. In his martial law announcement on Tuesday night, Mr. Yoon called parliament a "den of criminals" bogging down state affairs and vowed to eliminate "shameless North Korea followers and anti-state forces." The declaration of martial law was the first of its kind in more than 40 years in South Korea. The turmoil has paralyzed South Korean politics and sparked alarm among key diplomatic partners like the U.S. and Japan. "Mr. Yoon's credibility overseas has been undermined by declaring martial law, so he won't be able to exercise leadership in his foreign policies especially when his days are numbered," Kim, the analyst, said. "Its government bureaucracy will need to continue business as usual for existing alliance and foreign policy initiatives as best it can because there is a lot of important work to do globally." Tuesday night saw special forces troops encircling the parliament building and army helicopters hovering over it, but the military withdrew after the National Assembly unanimously voted to overturn the decree, forcing Mr. Yoon to lift it before daybreak Wednesday. Eighteen lawmakers from the ruling party voted to reject Mr. Yoon's martial law decree along with opposition lawmakers. PPP later decided to oppose Mr. Yoon's impeachment motion. Mr. Yoon's speech fueled speculation that he and his party may push for a constitutional amendment to shorten his term, instead of accepting impeachment, as a way to ease public anger over the marital law and facilitate Yoon's early exit from office. Lee told reporters that Mr. Yoon's speech was "greatly disappointing" and that the only way forward is his immediate resignation or impeachment. His party called Mr. Yoon's martial law "unconstitutional, illegal rebellion or coup." Lawmakers on Saturday first voted on a bill appointing a special prosecutor to investigate stock price manipulation allegations surrounding Mr. Yoon's wife. Mr. Yoon accused of ordering arrests of politicians On Friday, Han, who criticized Mr. Yoon's martial law declaration, said he had received intelligence that during the brief period of martial law Mr. Yoon ordered the country's defense counterintelligence commander to arrest unspecified key politicians based on accusations of "anti-state activities." Hong Jang-won, first deputy director of South Korea's spy agency, told lawmakers Friday that Mr. Yoon had ordered him to help the defense counterintelligence unit to detain key politicians including Han, Lee and Woo. The Defense Ministry said Friday it suspended three military commanders including the head of the defense counterintelligence unit over their involvement in enforcing martial law. Vice Defense Minister Kim Seon Ho has told parliament that Defense Minister Kim Yong Hyun ordered the deployment of troops to the National Assembly. Opposition parties accused Kim of recommending to Mr. Yoon to enforce martial law. Kim Yong Hyun resigned Thursday, and prosecutors imposed an overseas travel ban on him. This story was reported by The Associated Press.

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