SAN DIEGO, Dec. 24, 2024 (GLOBE NEWSWIRE) -- Robbins LLP reminds investors that a class action was filed on behalf of persons and entities that purchased or otherwise acquired Five9, Inc. (NASDAQ: FIVN) securities, including call options, between June 4, 2024 and August 8, 2024. Five9 provides software for a cloud-based contact center. For more information, submit a form , email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003. The Allegations: Robbins LLP is Investigating Allegations that Five9, Inc. (FIVN) Misled Investors Regarding its Sales Execution and Efficiency Issues According to the complaint, during the class period, defendants failed to disclose that: (i) Five9’s net new business was not “strong irrespective of the macro” and was, in fact, hampered by macroeconomic issues such as constrained and scrutinized customer budgets; (ii) Five9 was in the midst of a challenging bookings quarter due, in part, to sales execution and efficiency issues, and the Company was not “seeing very strong bookings momentum”; and (iii) Defendants did not have “enough information in terms of [their] existing customers that are going live” such that the statements that Five9 would see a positive inflection in its dollar-based retention rate lacked a reasonable basis. Plaintiff alleges that on August 8, 2024, Five9 released its second quarter 2024 financial results in which the Company reduced its annual revenue guidance due to “recent bookings trends and the uncertain economic conditions.” During the earnings call held that same day, the Company revealed it “had a challenging bookings quarter” due to “constrained and scrutinized” customer budgets and sales execution issues. Defendants announced remedial changes to address Five9’s sales execution and efficiency issues. It was further revealed that “Q2 new logo bookings came in softer than expected” and that the Company was “no longer assuming” a dollar-based retention rate inflection in the second half of the year because of a “more muted seasonality in our service bookings[.]” On this news, Five9’s common stock price dropped over 26%, from $42.47 per share on August 8, 2024 to $31.22 per share on August 9, 2024. What Now: You may be eligible to participate in the class action against Five9, Inc. Shareholders who want to serve as lead plaintiff for the class must submit their application to the court by February 3, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here . All representation is on a contingency fee basis. Shareholders pay no fees or expenses. About Robbins LLP: Some law firms issuing releases about this matter do not actually litigate securities class actions; Robbins LLP does. A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. Since our inception, we have obtained over $1 billion for shareholders. To be notified if a class action against Five9, Inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today. Attorney Advertising. Past results do not guarantee a similar outcome. A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1fe5526f-ab2a-4e9b-b72d-5bc1058e1011Academy of Building Industries logo Academy of Building Industries FORT MOHAVE — The Academy of Building Industries governing board on Wednesday discussed — and ultimately declined — to open a stock account to accept a donation of stocks. According to Supt. Jean Thomas, a woman had contacted the school and offered to donate $10,000 on stocks. The woman had reportedly not wanted to sell the stocks and donate the proceeds for tax reasons. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.
Retail sales in Qatar projected to grow at an annualised rate of 2.2% up to 2028, according to researcher Alpen Capital. Main drivers are government’s ambitious strategy to make Qatar a tourist destination, growing population and rising income levels, Alpen Capital said in a recent report. The government's efforts are anchored around three pillars, which are business facilitation, family-oriented activities and enhancing cultural experiences, it said. The country is actively leveraging its modern infrastructure to enhance the MICE market while also establishing new leisure destinations and districts, launching luxury shopping centres and investing in its natural assets. Qatar is also likely to benefit from the long-list of global sporting events lined up to take place in the country during the forecasted period. Qatar’s retail industry is currently going through a period of rapid expansion with several regional and international brands expanding their presence across the country. This has led to increased footfall in markets such as Doha and the market is expected to witness significant traction as Qatar gears up to host numerous global sporting events. As part of Qatar National Vision 2030, the government is working to diversify the country's economy with the travel and retail sectors being recognised as two of the main drivers, Alpen Capital noted. The high level of wealth coupled with rising population (1.5% CAGR between 2018 and 2023), an expanding tourism sector (74.1% CAGR between 2020 and 2023), and continued investments towards infrastructure development has thus positioned the country as a promising retail market in the GCC. Consequently, the retail sector is undergoing transformation from traditional independent shops and souqs to modern shopping malls, supermarkets, and digital platforms that feature a wide range of domestic and international brands. “This transition not only offers a broader variety of products but also enhances shopping experiences, attracting a diverse consumer base,” the report said. Amid a rising demand for global brands, sales across e-commerce platforms in Qatar is estimated to have grown at a CAGR of 8.1% between 2018 and 2023 to reach $2.8bn in 2023. The sector’s contribution to GDP stood at 1.2% as of 2023, second highest in the region and above the GCC average of 1%, Alpen Capital said. This has been primarily driven by the government’s NDS-3 (2024-2030), a commitment to diversification and sustainability for future prosperity. In order to facilitate growth within the sector, the country has been leveraging customs programmes and trade agreements, investing in strong ICT infrastructure and advanced technologies, as well as using PPP models to bolster its logistics and industrial infrastructure. Although it accounted for just 13.2% of the total GCC e-commerce market as of 2023, the industry is witnessing an influx of platforms offering niche products and services. Post-pandemic, several retailers in Qatar have moved to a blended, omni-channel distribution strategy, which involves boosting and expanding their digital offerings while also maintaining a brick-and-mortar footprint. Qatar is also regarded as the world’s fastest-growing luxury market that encompasses a diverse range of goods, spanning from high-end fashion attire, accessories, timepieces, jewellery, cosmetics, fragrances, and high-end vehicles among others. Qatari luxury goods market is also in the midst of a digital transformation, as brands are adopting e-commerce platforms, utilising social media for marketing, and employing digital engagement tactics to connect with millennial and tech-savvy affluent consumers. As of 2023, Qatar’s supply of organised retail space exceeded 2.3mn sq m of gross leasable area (GLA). Supply in the organised retail real estate sector in the country has remained largely static in 2023, Alpen Capital said. Related Story Qatar's venture capital ecosystem outlook 'positive': Pulsar Qatar’s food consumption may grow to 2.5mn tonnes by 2027: Alpen Capital
Australian Environment Minister Disappointed as UN Members Fail to Reach Agreement on Plastic PollutionTrump not back in office but already pushing his agenda and negotiating with world leadersNone
It’s almost a new year, and that means it’s almost time for a bevy of new state laws to go into effect. For the 2023-24 legislative session that just wrapped up (each session spans two years) Gov. Gavin Newsom signed 1,017 bills into law, according to Chris Micheli, a veteran Sacramento lobbyist. That’s a tick more than one-fifth of t he 4,821 bills introduced over that two-year span . Most of the new laws are slated to kick in on Jan. 1. From new parking rules to health care coverage and more, here is a quick look at just 10 of those new laws: Cannabis cafes Local jurisdictions could give the green light to permit certain cannabis retailers to prepare and sell drinks and food that do not contain cannabis. The law, signed by the governor in late September , also allows the retailers to host ticketed live events on the premises. The idea is to pave the way for a version of Amsterdam-style cannabis cafes, where people can use cannabis with others while also consuming coffee, sandwiches and live music, for example. The new law “will allow cannabis retailers to diversify their business and move away from the struggling and limited dispensary model,” Assemblymember Matt Haney, a San Francisco Democrat who championed the effort in the legislature, said in a news release . Newsom vetoed similar legislation last year over concerns from public health advocates. This bill included additional provisions meant to reduce health risk, including letting employees wear employer-provided masks and allowing local governments to require filtration and ventilation systems to prevent smoke from permeating nearby buildings. Child content creators Minors who make money by producing online content should get some extra financial protection as a result of two bills the governor signed this year. One expands the Coogan Act , a longtime California law that requires parents to open a trust and set aside at least 15% of their child actor’s gross earnings. The new rules have been expanded to include “kidfluencers” — or, as the bill describes them, “child influences in paid online content or internet websites, social networks and social media” — as part of the creative or artistic services that would trigger a Coogan trust account. Another extends those financial protections to children who appear in vlogs, or video blogs. Sen. Steve Padilla, D-San Diego, noted the Coogan Act covers children under contract — not necessarily children who appear in their parents’ online content. This new law requires content creators to set aside a percentage of total gross earnings in a trust for the child (to be accessed when they become an adult) if the minor is in at least 30% of their content within a month. Education Several education bills were signed into law this year, ranging from rules to protect young people from being outed against their will to rules that require elementary schools to offer free menstruation products . Other new laws cover what is taught in the classroom, including a bipartisan measure that ensures students are being taught accurately how Native Americans in California were treated during the Gold Rush era and the Spanish colonization of California. “Classroom instruction about the Mission and Gold Rush periods fails to include the loss of life, enslavement, starvation, illness and violence inflicted upon California Native American people during those times,” said Assemblymember James Ramos, D-San Bernardino. “These historical omissions from the curriculum are misleading.” California public schools also will be required to teach Mendez v. Westminster , a landmark court case involving an Orange County family and local school districts that helped bring about the end of segregation laws in local schools around the country. E-bikes Selling a device, often called a “tuning kit,” that can modify the speed capability of an electric bicycle so that it is no longer defined as an e-bike will be prohibited . California law already has speed guidelines for e-bikes. For example, a Class 1 bike has a motor that kicks in when a rider is pedaling and tops out at 20 mph; a Class 3 motor is meant to stop at 28 mph, and those bikes include speedometers. Modifying the speed of e-bikes is already illegal and unsafe, Assemblymember Diane Dixon, R-Newport Beach, said in an analysis of her bill. The new law specifically bans the sale of products that can make the alterations. Eviction notices Tenants soon will have more time to respond to an eviction notice. California law originally dictated that a landlord could not file an eviction lawsuit until after serving their tenant with a three-day notice — which excludes Saturdays, Sundays and judicial holidays — to pay. Tenants then had five days after they were served to file their defense in court. If they failed to do so, a judge could award a default judgment to the landlord. The new law doubles those five day-windows to 10 days. Responding to eviction lawsuits is not necessarily a simple feat, supporters of the new law have argued , particularly for people struggling to pay their rent. Tenants need to obtain hard-to-find legal aid or an expensive attorney to complete their defense filing accurately, and then they have to find the means to travel to the courthouse. Fertility treatment Certain insurers must cover fertility treatments, including in vitro fertilization, in 2025. This law, which won’t take effect until July 2025 , will require large group health care service plans to cover up to three oocyte (egg) retrievals. It also prohibits health care service plans from imposing different conditions or coverage limitations on fertility medications or services. Sen. Caroline Manjivar, D-San Fernando Valley, said her bill being signed into law is “a triumph for the many Californians who have been denied a path toward family-building because of the financial barriers that come with fertility treatment, their relationship status or are blatantly discriminated against as a member of the LGBTQ+ community.” Medical debt Medical debt will no longer be shared with credit reporting agencies , meaning that debt will not show up on credit reports. That said, medical debts still must be paid. In her analysis of the bill Sen. Monique Limón, D-Santa Barbara, noted that the new rules doesn’t forgive medical debt or restrict the collection of it. Instead, she said, the new rules are meant to help “lift the credit scores of people who have been inaccurately and unfairly saddled with medical debts on their credit reports, opening opportunities for access to healthier financial products, better housing and more employment opportunities.” Online subscriptions A new law may make it easier to opt out of pesky automatic subscription renewals. Companies will now have to obtain the “express affirmative consent” to automatically renew subscriptions entered into after July 1, 2025. Consumers also will need to be sent annual reminders about automatic renewals, what the charges are, and information about how to cancel the service. Parking near crosswalks Think you’ve finally found an open parking spot? If it’s within 20 feet of any marked or unmarked crosswalk, then you may want to find a new spot. Starting in 2025, motorists could be ticketed for parking within 20 feet of a crosswalk — even if there is no sign posted. The no-parking zone decreases to 15 feet if there is a curb extension present, the law says. Newsom OK’d this law in 2023 — the bill is part of the two-year legislative session that ended in 2024 — and technically it already is in effect. However, the law only allowed jurisdictions to begin ticketing offenders starting Jan. 1, 2025. Youth in residential facilities Residential treatment facilities (also called short-term residential therapeutic programs) that provide services for minors, must report certain information to the child, their parent or guardian, and California’s Department of Social Services when seclusion or restraints are used. These facilities are allowed to use seclusion or restraints when staff believe the patient may be a danger to themselves or others, said Sen. Shannon Grove, R-Bakersfield, who championed this law. The new law mandates that children must be informed of their rights — including the right to contact state social service workers and the California Office of the Foster Care Ombudsperson — within one day of seclusion or restraints being used. Those minors also must be given an oral and written description of the incident, including who approved the disciplinary actions and the rationale behind them. That written information must be given to Dept. of Social Services within seven days, leaving it up to the state to review and determine if any laws were potentially violated by using seclusion and restraints, therefore warranting an investigation. Beginning in 2026, the department will need to publicly post information about these incidents, so parents and guardians can be better informed about where they send their children. The effort to bring more transparency to what punishments are used in youth residential facilities was championed by actress and activist Paris Hilton, who has detailed the “continuous torture” she faced while attending a boarding school as a teenager. Hilton has championed similar laws in other states related to what’s been dubbed the troubled teen industry as well as at the federal level . “For too long, these facilities have operated without adequate oversight, leaving vulnerable youth at risk,” said Hilton. “After being abused in a California facility in my teens, it is validating to see California taking a stand to protect our youth, and I hope our state is the standard for transparency and accountability in these facilities moving forward.”
North Macedonian political party demands ban on TikTok after at least 17 students injuredChina in restructuring itself in the field of avionics and military infrastructure, with its 6th generation fighter program giving stiff competition to the US Air Force . The Asian country has now announced the new sixth-generation heavy stealth jet whose images have surfaced recently, showing this previously unseen aircraft conducting daytime flight tests alongside other combat aircrafts giving it due backup. ET Year-end Special Reads Two sectors that rose on India's business horizon in 2024 2025 outlook: Is it time for cautious optimism or rekindling animal spirits? 2024: Govt moves ahead with simultaneous polls plan; India holds largest democratic exercise Has China launched its new sixth-generation heavy stealth jet? Reports claim that these tests took initiation from the Chengdu Aircraft Corporation (CAC) factory airfield, and these videos of the unseen jet went viral within minutes of it circulating on social media. Meanwhile, this would mean that there is now increased pressure on America's sixth-gen program in the coming days as the details regarding the exact identity and specifications of the Chinese fighter jet will remain a mystery for now, making it a major security threat for US and China's enemy nations. What's so special about the new Chinese stealth jets? These sixth-gen Chinese jets are tailless, which is indeed a one-of-a-kind outlook, but it reportedly gives lesser air resistance to aircrafts, and provides better maneuvering, due to the avionics involved. Moreover, the broad nose of the stealth jet raises the possibility of accommodating one or two crew members side by side, making it easier to coordinate and fly, like like regular commercial aircrafts. FAQs: Are US and China allies? China's leadership perceives the US military as “hostile” and “threatening” towards the People's Liberation Army. Is China working on next-gen fighter aircrafts? Beijing's military expansion over the past two decades has focused on developing a formidable arsenal of missiles, ships, aircraft, including the latest sixth-generation heavy stealth jet. 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Ghana’s President, Nana Addo Dankwa Akufo-Addo, delivered a reflective speech on December 27, 2024, at the official commissioning of the newly constructed Accra STEM Academy at East Legon, expressing his deep desire to be remembered as the president who prioritized education. The launch of the Academy marks a significant milestone in the government’s broader vision to improve Ghana’s education system and develop a skilled workforce that can contribute to the country’s long-term development. In his keynote address, President Akufo-Addo underscored the transformative strides his administration has made in the education sector, from the implementation of the Free Senior High School (SHS) policy to the establishment of institutions like the Accra STEM Academy. He emphasized that these initiatives were designed to equip future generations with the skills necessary to tackle both domestic challenges and global opportunities. The Accra STEM Academy, a key component of his education agenda, is set to address one of Ghana’s pressing needs: a shortage of qualified engineers. By focusing on Science, Technology, Engineering, and Mathematics (STEM) education, the Academy aims to provide students with the critical knowledge and practical expertise required to drive innovation in fields essential for the country’s development. President Akufo-Addo expressed optimism that the seeds his administration has planted in the education sector will bear fruit in the years to come, leading to a more educated, innovative, and resilient Ghana. “The foundation for a brighter future has been laid,” he said, asserting that the investments made in education will shape the country’s destiny. The President also called on Ghanaians to protect the educational vision and ensure that institutions like the Accra STEM Academy continue to inspire future generations. In his closing remarks, Akufo-Addo reminded the nation that education is the key to unlocking the country’s potential, urging students to thrive and contribute to Ghana’s development. As Ghana looks toward the future, the importance of education as a driver of economic growth and innovation has never been clearer. The launch of the Accra STEM Academy is a step towards building a knowledge-based economy, with the potential to position Ghana as a leader in science and technology across the region. However, the real challenge lies in ensuring that these ambitious projects translate into tangible results, with the success of this Academy serving as a litmus test for the government’s broader education reforms. By investing in STEM education, President Akufo-Addo aims not only to improve the quality of human capital but also to create a pipeline of skilled professionals who can meet the demands of the country’s evolving economy. This vision of an educated and technologically advanced Ghana reflects a broader global trend where nations are prioritizing educational infrastructure to secure a competitive edge in the 21st century economy. Whether this will leave a lasting legacy for the President will depend on how well these programs are sustained and scaled in the coming years.Atria Investments Inc Trims Stock Holdings in Hancock Whitney Co. (NASDAQ:HWC)
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