HR tech firm Rippling raises new funding at $16.8 billion valuation, no IPO plans
Reuters· 2026-05-09 17:02AI Processing
Core Insights - Rippling, an HR software startup, raised $450 million in Series G funding, achieving a valuation of $16.8 billion, focusing on global revenue growth over immediate profitability [1][4][5] Funding and Valuation - The funding round included participation from notable investors such as Y Combinator, Elad Gil, Sands Capital, GIC, and Goldman Sachs Growth [2] - The new valuation of $16.8 billion marks an increase from the previous valuation of $13.5 billion in early 2024 [4] Employee Equity and IPO Plans - Rippling plans to repurchase up to $200 million of equity from current and former employees through a tender offer, which may become an annual event [2][3] - The CEO stated that the company does not have immediate plans for an IPO, emphasizing the need for profitability before considering going public [4][6] Business Performance and Strategy - Rippling has surpassed $100 million in annual recurring revenue and serves over 20,000 customers with a suite of more than 20 products [5] - The company is prioritizing growth over profitability, indicating a strategic choice to expand rapidly rather than slow down for immediate profit [6] Legal Challenges - Rippling is involved in ongoing legal disputes with competitor Deel, including allegations of corporate espionage, which have raised questions about competitive practices in the tech industry [7][8]
Oddity Tech Ltd. Group Limited Sued for Securities Law Violations - Contact the DJS Law Group to Discuss Your Rights - ODD
Prnewswire· 2026-03-23 05:09
Core Viewpoint - Oddity Tech Ltd. is facing a class action lawsuit for securities law violations, specifically for making false and misleading statements regarding its financial prospects and business strength during the class period from February 26, 2025, to February 24, 2026 [2]. Group 1: Lawsuit Details - The lawsuit alleges that an algorithm change by Oddity's largest advertising partner led to advertisements being sent to lower quality auctions at higher costs, significantly increasing acquisition costs [2]. - The company is accused of overstating its financial prospects and business strength to investors, resulting in public statements that were false and materially misleading throughout the class period [2]. Group 2: Shareholder Information - Shareholders who purchased shares of Oddity during the specified class period are encouraged to contact the DJS Law Group regarding possible lead plaintiff appointments, although appointment is not required to partake in any recovery [2]. - The deadline for participation in the lawsuit is set for May 11, 2026 [2].
Concorde International Group Ltd. Sued for Securities Law Violations - Contact the DJS Law Group to Discuss Your Rights - CIGL
Prnewswire· 2026-03-23 05:00
Core Viewpoint - A class action lawsuit has been filed against Concorde International Group Ltd. for securities law violations, specifically for making false and misleading statements that inflated its share price during a fraudulent stock promotion scheme [1][2]. Group 1: Lawsuit Details - The class period for the lawsuit is from April 21, 2025, to July 14, 2025, with a deadline for participation set for May 18, 2026 [2]. - The complaint alleges that insiders of Concorde sold shares while the company's stock price was artificially inflated due to misleading public statements [2]. Group 2: Investor Participation - Shareholders who purchased shares during the class period are encouraged to contact the DJS Law Group for potential lead plaintiff appointments, although being appointed as lead plaintiff is not necessary to recover losses [2][3]. Group 3: Law Firm Background - DJS Law Group specializes in securities class actions and corporate governance litigation, focusing on enhancing investor returns through advocacy [4].
India Coca‑Cola bottler SLMG says Middle East war risks pushing up prices
Reuters· 2026-03-23 04:54
Group 1 - SLMG Beverages, Coca-Cola's largest bottler in India, may increase prices due to rising packaging costs linked to the Middle East war [1][2] - The war is causing costs for key packaging materials, and some manufacturers have already raised prices [2] - SLMG has not raised prices portfolio-wide in the past 7–8 years, indicating limited room for price increases in the competitive soda market [3] Group 2 - SLMG plans to invest between 10 billion rupees ($106.58 million) and 12 billion rupees in each of four new plants over five years to tap into the growing soft drink market [4] - The non-alcoholic ready-to-drink beverages market in India is projected to double to approximately $40 billion by 2030 [4] - SLMG's sales increased by 49% to 67.73 billion rupees in fiscal year 2025, with net profit rising 76% to 2.06 billion rupees [5] Group 3 - SLMG is targeting net revenue of 100 billion rupees in 2026–27, focusing on expansion in lower-income states like Bihar and Uttar Pradesh [5]
XPeng: Q4 Net Profit, Leading Gross Margins, Cheap (NYSE:XPEV)
Seeking Alpha· 2026-03-23 04:53
Core Insights - XPeng reported better-than-expected earnings for its fourth quarter on March 20, 2026, marking the company's first quarterly net profit on a GAAP basis in its history [1] Financial Performance - The earnings report indicates a significant improvement in XPeng's financial performance, showcasing a successful transition to profitability [1]
New York's LaGuardia airport shut after Air Canada Express flight collides with ground vehicle; several injured
MINT· 2026-03-23 04:51
Operations at New York's LaGuardia Airport were suspended following a collision between an arriving Air Canada Express CRJ-900 and a ground vehicle on Runway 4. The Air Canada Express aircraft, operating a service from Montreal, reportedly struck a fire truck during landing, according to early accounts and flight- tracking data from Flightradar24. Federal Aviation Administration (FAA) has confirmed that New York City's LaGuardia Airport has been closed and a stop-ground order has been issued following a col ...
ROSEN, RECOGNIZED INVESTOR COUNSEL, Encourages Lakeland Industries, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action – LAKE
Globenewswire· 2026-03-23 04:40
Core Viewpoint - Rosen Law Firm is reminding investors who purchased Lakeland Industries, Inc. securities between December 1, 2023, and December 9, 2025, of the April 24, 2026, deadline to become a lead plaintiff in a class action lawsuit [1] Group 1: Class Action Details - Investors who bought Lakeland securities during the specified Class Period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [1] - A class action lawsuit has already been filed, and interested parties must move the Court by April 24, 2026, to serve as lead plaintiff [2] - The Rosen Law Firm emphasizes the importance of selecting qualified counsel with a successful track record in securities class actions [3] Group 2: Case Allegations - The lawsuit alleges that Lakeland made false and misleading statements regarding its Pacific Helmets and Jolly businesses, including issues with shipping delays, production problems, and a slower rollout of new products [4] - It is claimed that Lakeland's financial results were negatively impacted by tariff-related challenges, certification delays, and material flow issues in its acquired businesses [4] - The lawsuit asserts that the defendants overstated the effectiveness of their tariff mitigation measures and the strength of their M&A strategy, leading to unreliable financial guidance [4]
ROSEN, NATIONAL TRIAL LAWYERS, Encourages Navan, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action – NAVN
Globenewswire· 2026-03-23 04:40
Core Viewpoint - Rosen Law Firm is reminding investors who purchased common stock of Navan, Inc. about the upcoming lead plaintiff deadline for a class action lawsuit related to the company's October 2025 IPO [1]. Group 1: Class Action Details - Investors who purchased Navan common stock may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - A class action lawsuit has already been filed, and interested parties must move the Court to serve as lead plaintiff by April 24, 2026 [3]. - The lawsuit claims that the Offering Documents for Navan's IPO were false and misleading, particularly regarding increased "sales and marketing" expenses at the time of the offering [5]. Group 2: Legal Representation - Investors are encouraged to select qualified legal counsel with a successful track record in securities class actions, as many firms issuing notices may lack the necessary experience [4]. - Rosen Law Firm has a history of significant recoveries for investors, including over $438 million in 2019 alone, and has been recognized for its leadership in securities class action settlements [4].
Air Canada Express plane hits ground vehicle at New York's La Guardia airport, FlightRadar24 says
Reuters· 2026-03-23 04:32
Core Insights - An Air Canada Express plane experienced a collision with a ground vehicle during its landing at New York's La Guardia Airport [1] Company Impact - The incident involved an Air Canada Express flight originating from Montreal, indicating potential operational challenges for the airline [1] Industry Context - The collision highlights ongoing safety concerns within the aviation industry, particularly regarding ground operations at busy airports like La Guardia [1]
US energy, interior secretaries meet executives amid market turmoil
Reuters· 2026-03-23 04:31
Core Insights - The U.S. Energy Secretary and Interior Secretary met with energy executives to discuss domestic oil output and opportunities in Venezuela amid significant supply disruptions caused by the U.S.-Israeli conflict with Iran [1][5]. Group 1: Market Conditions - Oil prices have surged to over $100 per barrel due to the closure of the Strait of Hormuz, which is critical for approximately 20% of global oil and gas flows [2]. - Attacks on energy infrastructure in the region have resulted in long-term damage, indicating that even if the strait reopens, it may take years for supply levels to return to pre-war conditions [3]. Group 2: Industry Discussions - The meeting included discussions on the duration of the strait's closure, with no consensus reached, highlighting the unprecedented disruption in energy markets [4]. - The U.S. officials emphasized the need for support from energy executives regarding strategies for Venezuela and Iran, asserting the U.S. commitment to reopening the strait [5]. Group 3: Broader Industry Participation - The dinner gathering included a diverse range of attendees beyond oil executives, such as coal and power company leaders, reflecting the increasing importance of power generation due to rising demand from data centers [6]. - Notable attendees included CEOs from various energy sectors, indicating a collaborative approach to addressing current challenges in the energy market [7]. Group 4: Price Implications - U.S. gasoline prices have increased by nearly 30% since the onset of the conflict, approaching $4 per gallon, while average diesel prices have exceeded $5 per gallon, creating potential political challenges ahead of upcoming elections [8].