RT vittorio (@IterIntellectus)plastic recycling is one of the most successful corporate frauds in history and everyone fell for itin the 1980s the plastic industry faced regulation that would've killed their businesstheir solution was to spend $50 million convincing you that recycling would fix everything, while their own internal documents proved they knew only <10% of plastic was recyclablethey lied deliberately. with documentation.the results of their fraud:- 9% of plastic ever produced has been recycled ...

Core Viewpoint - Lugano Holdings Inc., a high-end jewelry retailer, has filed for bankruptcy following allegations against its former CEO for embezzlement and misrepresentation of investment deals [1][2][3] Group 1: Bankruptcy Filing - The company filed for Chapter 11 bankruptcy protection in Delaware, listing at least $100 million in assets and over $500 million in liabilities [2] - The bankruptcy filing is part of a process to sell the business to Enhanced Retail Funding, pending approval from a bankruptcy judge and subject to better offers [2][8] Group 2: Allegations Against Former CEO - Former CEO Mordechai Haim Ferder is accused of stealing millions and misrepresenting financial transactions, leading to a civil lawsuit filed by Lugano [3][4] - The lawsuit claims Ferder forged invoices and misled stakeholders about the company's financial performance by disguising transactions as ordinary sales [5][6] Group 3: Financial Impact - Following the allegations, the company is revising its previously reported revenue of $470 million and operating income of $180 million for 2024 to reflect significantly lower actual figures [7] - Compass, which acquired a majority interest in Lugano in 2021 for $256 million, is providing $12 million in financing to support the bankruptcy process [4][8]

In Going Private, our newsletter on private markets, we explore how rising fears of corporate fraud and unsound underwriting are spooking financiers https://t.co/rA2i4y4Vo9 ...

Core Viewpoint - A class action lawsuit has been filed against James Hardie Industries plc, alleging that the company misled investors regarding inventory destocking in its North America Fiber Cement segment, leading to a significant drop in stock price after the truth was revealed [1][2][3]. Group 1: Allegations and Misleading Statements - Robbins LLP is investigating allegations that James Hardie Industries plc made false statements during the class period, particularly regarding the strength of its North America Fiber Cement segment despite early signs of inventory destocking [2]. - The complaint states that James Hardie assured investors on May 20 and 21, 2025, that the segment remained strong, while in reality, there were signs of inventory loading by channel partners, indicating unsustainable demand [2]. Group 2: Impact on Stock Price - On August 19, 2025, James Hardie disclosed a 12% decline in sales for its North America Fiber Cement segment due to customer destocking, which had been known to the company since April and May [3]. - Following this disclosure, the company's stock price fell by over 34%, dropping from $28.43 per share on August 18, 2025, to $18.64 per share on August 20, 2025, reflecting a loss of $9.79 per share [3]. Group 3: Class Action Participation - Shareholders interested in participating in the class action must submit their papers to the court by December 23, 2025, to serve as lead plaintiff, representing other class members [4]. - It is noted that shareholders do not need to participate in the case to be eligible for recovery, allowing them to remain absent class members if they choose [4].

Core Viewpoint - A securities class action has been filed against RCI Hospitality Holdings, Inc. following an indictment of its executives for multiple crimes, including conspiracy and tax fraud, which has led to significant investor losses [1][4][5] Legal Proceedings - The class action lawsuit, Hernandez v. RCI Hospitality Holdings, Inc., seeks to represent investors who purchased RCI securities between December 15, 2021, and September 16, 2025 [1][3] - The lead plaintiff deadline for the lawsuit is set for November 20, 2025 [3] Allegations - The indictment includes 79 counts against RCI and its executives, alleging bribery of a tax auditor to evade over $8 million in sales taxes from 2010 to 2024 [4] - RCI is accused of making false statements regarding its financial compliance and internal controls, failing to disclose significant legal risks [3][5] Market Reaction - Following the announcement of the indictment, RCI's share price dropped nearly 16% on September 16, 2025, indicating a severe market reaction to the news [5] Investigation - Hagens Berman, a national shareholders rights firm, is investigating whether RCI misled investors about its legal compliance and internal controls [2][5] - The firm encourages affected investors to report their losses and assist in the investigation [2][6]