NEW BRAUNFELS, Texas--(BUSINESS WIRE)--TaskUs, Inc. (Nasdaq: TASK) ("TaskUs†or the "Company†), a leading provider of outsourced digital services and next-generation customer experience to the world's most innovative companies, today announced that at a special meeting of TaskUs stockholders, the Company did not receive the votes necessary to approve the transaction agreement with an affiliate of Blackstone, TaskUs Co-Founder and Chief Executive Officer Bryce Maddock, and TaskUs Co-Founder and. ...

NEW BRAUNFELS, Texas--(BUSINESS WIRE)--TaskUs, Inc. (Nasdaq: TASK) ("TaskUs†or the "Company†), a leading provider of outsourced digital services and next-generation customer experience to the world's most innovative companies, today reminds all stockholders to vote "FOR†the adoption of the merger agreement and take-private acquisition by an affiliate of Blackstone, TaskUs Co-Founder and Chief Executive Officer Bryce Maddock and TaskUs Co-Founder and President Jaspar Weir (collectively, the "B. ...

Group 1 - TaskUs has postponed a shareholder meeting to vote on a take-private offer from Blackstone and the company's co-founders [1] - The delay is intended to provide more time to solicit shareholder support for the deal [1]

Core Viewpoint - TaskUs, Inc. has announced the adjournment of its special meeting of stockholders to October 8, 2025, to gather additional proxies for its acquisition by an affiliate [1] Group 1 - The special meeting was initially adjourned on September 10, 2025, and is now rescheduled for October 8, 2025, at 7:30 a.m. Central Time [1] - The purpose of the meeting is to solicit additional proxies in favor of the Company's acquisition [1]

Core Points - The lawsuit against TaskUs alleges a significant data breach affecting Coinbase customers, with claims of a coordinated criminal campaign involving numerous employees [5][4][2] - Coinbase estimates that customers have lost up to $400 million due to the breach, with many victims suffering substantial financial losses [4][9] - The breach has reportedly affected at least 70,000 individuals, marking it as one of the largest security breaches in the cryptocurrency sector [5][4] Allegations of Negligence - TaskUs is accused of failing to monitor its computer network adequately, which allowed the breach to occur and continue without detection [7][8] - The lawsuit claims that TaskUs had policies in place to protect sensitive data, but these were poorly enforced and ineffective [7][8] - Employees allegedly exploited their access to sensitive information, with some reportedly taking photographs of data to sell to criminals [12][13] Impact on Victims - Victims of the breach have faced ongoing threats, including identity theft and physical attacks, with many receiving harassing communications from criminals [3][9] - The lawsuit highlights that victims were not given timely information to protect themselves, leading to significant financial losses [6][4] - The potential for future fraud and identity theft remains high, as the stolen data can be used for various criminal activities [10][9] Financial Motives - The average salary for TaskUs employees in India is significantly lower than their U.S. counterparts, which may have created financial incentives for involvement in the breach [12] - Allegations suggest that employees could earn substantial sums by selling sensitive information, with claims of bribes amounting to over $500,000 [13][12] Timeline of Events - The conspiracy is believed to have started as early as September 2024, with the breach being discovered in January 2025, but not disclosed to the public until May 2025 [14][18] - TaskUs employee Ashita Mishra was identified as a key figure in the conspiracy, allegedly taking hundreds of pictures of sensitive data [15][14] Company Responses - Coinbase's public statements regarding the breach have been described as misleading, with claims that the company delayed disclosure until threatened with a ransom [18][19] - The lawsuit demands compensation for victims and calls for reforms in TaskUs' operational infrastructure to prevent future breaches [20]

Federal Reserve Decision - The Federal Reserve cut the benchmark lending rate by 25 basis points to a range of 4-4.25%, marking the first interest rate cut of the year [1][9] - The decision was supported by 11 out of 12 voting members, with expectations of two more rate cuts of 25 basis points each this year and additional cuts in 2026 and 2027 [2] AI Infrastructure Sector - A low-interest-rate environment is expected to benefit high-growth sectors, particularly technology, consumer discretionary, and cryptocurrency [3][9] - The AI infrastructure segment is experiencing significant momentum, driven by strong demand and projected spending that will transform various industries over the next five years, including automation, robotics, healthcare, and cybersecurity [5] Recommended AI Infrastructure Stocks - Five mid-cap AI infrastructure stocks are recommended for investment: UiPath Inc. (PATH), Qualys Inc. (QLYS), Calix Inc. (CALX), TaskUs Inc. (TASK), and InterDigital Inc. (IDCC) [4][9] - Each of these companies has a Zacks Rank of 1 (Strong Buy) or 2 (Buy), indicating strong investment potential [4] Company Highlights UiPath Inc. (PATH) - UiPath offers an end-to-end automation platform with advanced AI capabilities, including generative AI features [10] - Expected revenue and earnings growth rates for the current year are 10.1% and 20.8%, respectively, with a 14.3% improvement in earnings estimates over the last 30 days [11] Qualys Inc. (QLYS) - Qualys is benefiting from the demand for cloud-based cybersecurity solutions, with a balanced customer mix that enhances resilience [12] - The company has expected revenue and earnings growth rates of 8.1% and 4.6%, respectively, with a 0.5% improvement in earnings estimates over the last week [14] Calix Inc. (CALX) - Calix provides cloud and software platforms for communication service providers and has integrated AI into its offerings [15][16] - Expected revenue and earnings growth rates for 2025 are 15.3% and over 100%, respectively, with a 25.6% improvement in earnings estimates over the last 60 days [16] TaskUs Inc. (TASK) - TaskUs specializes in outsourced digital services across various sectors and has formed strategic partnerships to enhance its AI capabilities [17][18] - Expected revenue and earnings growth rates for 2025 are 17.8% and 16.3%, respectively, with a 4.2% improvement in earnings estimates over the last 30 days [20] InterDigital Inc. (IDCC) - InterDigital focuses on technology solutions for mobile and IoT markets, with innovations in AI-powered receiver design for future wireless communications [21][22] - Expected revenue and earnings growth rates for the current year are -6.7% and -6.2%, respectively, with a 5.9% improvement in earnings estimates over the last 30 days [24]

Core Insights - A significant data breach at Coinbase exposed over 69,000 users, with damages estimated at $400 million [1] - The breach was allegedly orchestrated by an employee of TaskUs, the customer service outsourcing firm, who engaged in insider theft [2][4] - TaskUs is accused of negligence and attempting to conceal the breach, particularly during its $1.6 billion acquisition by Blackstone [5] Insider Theft Details - Ashita Mishra, a TaskUs employee, began stealing sensitive customer data in September 2024, capturing up to 200 records daily [2] - The stolen data included names, emails, addresses, bank account details, balances, and Social Security numbers [2] - Mishra sold the information to hackers for $200 per image, leading to significant user impersonation and fraud [3] Allegations Against TaskUs - The operation involved a conspiracy within TaskUs, with Mishra allegedly recruiting supervisors to facilitate the theft [3] - TaskUs is accused of firing 226 employees in an effort to suppress knowledge of the breach and dismantling its HR investigation team [4] - Plaintiffs claim that TaskUs failed to disclose the breach while pursuing its acquisition by Blackstone, indicating a pattern of concealment [5] Coinbase's Response - Coinbase reported that less than 1% of its active users were affected and acted swiftly after the breach was discovered [5] - The company reimbursed affected customers and provided free credit monitoring and identity restoration services [5] - Coinbase initiated a $20 million bounty program for information leading to arrests and convictions related to the breach [6]

Amendments to a class action in New York against TaskUs have added new claims of systemic security failures and concealment in a breach tied to Coinbase customer data. The amended complaint, filed on Tuesday at the Southern District of New York, adds key elements to earlier disclosures about how Coinbase’s customer data was handled across the timeline of the massive breach, from its origins in late 2024 to Coinbase’s eventual disclosure in May, with losses estimated to reach as much as $400 million. “This w ...

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Core Viewpoint - TaskUs (TASK) has been upgraded to a Zacks Rank 1 (Strong Buy) due to an upward trend in earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Price Movement - The Zacks rating system is based solely on a company's changing earnings picture, with the Zacks Consensus Estimate tracking EPS estimates from sell-side analysts [1][2]. - Changes in future earnings potential, as indicated by earnings estimate revisions, are strongly correlated with near-term stock price movements [4][6]. Institutional Investor Influence - Institutional investors utilize earnings estimates to determine the fair value of a company's shares, leading to buying or selling actions that affect stock prices [4]. TaskUs Earnings Outlook - TaskUs is projected to earn $1.44 per share for the fiscal year ending December 2025, indicating no year-over-year change [8]. - Over the past three months, the Zacks Consensus Estimate for TaskUs has increased by 5.3% [8]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [7]. - The upgrade of TaskUs to Zacks Rank 1 places it in the top 5% of Zacks-covered stocks, suggesting potential for higher stock movement in the near term [10].