Stock Markets
Alti global CEO buys $230k in company stock
Michael Tiedemann, the Chief Executive Officer of AlTi Global, Inc. (NASDAQ:ALTI), has made a significant investment in the company’s stock, according to a recent SEC filing. Tiedemann purchased a total of 47,373 shares of AlTi Global’s Class A Common Stock, with transactions totaling approximately $230,459. The shares were acquired at prices ranging from $4.86 to $4.87 per share.
This move by the CEO demonstrates a strong vote of confidence in the future of AlTi Global, a firm specializing in investment advice. Tiedemann, who also serves as a director, increased his direct holdings in the company to 499,886.53 shares following the purchases made on June 3, 2024.
Investors often watch the buying and selling activity of company executives as it can indicate the leadership’s belief in the company’s prospects. A purchase of stock can suggest that the executive is bullish on the company’s future performance.
The SEC filing also disclosed footnotes indicating the price reported is a weighted average price, with the shares bought in multiple transactions at prices ranging from $4.69 to $5.00. Tiedemann has committed to providing full information regarding the number of shares bought at each separate price within this range upon request.
In addition to the direct acquisitions, the SEC document revealed Tiedemann’s indirect beneficial ownership in AlTi Global, which includes shares held in trusts and LLCs. However, he disclaims beneficial ownership of these securities except to the extent of any pecuniary interest he may have therein.
In the realm of derivative securities, the filing showed that Tiedemann was awarded Restricted Stock Units (RSUs) and Performance Restricted Stock Units (PRSUs), which represent contingent rights to receive shares of the company’s Class A Common Stock. These awards are subject to vesting conditions based on service with the company and performance thresholds.
Investors in AlTi Global will likely continue to monitor insider transactions, such as those of Tiedemann, as they evaluate their positions in the company.
In other recent news, AlTi has reported significant financial strides in its first-quarter earnings call. The company disclosed a revenue of $51 million, largely driven by recurring fees. The firm’s net income stood at $22 million, with an adjusted EBITDA of $7 million. AlTi’s assets under management (AUM) also saw a 10% increase over the past year, reaching $71 billion.
In addition to these financial highlights, AlTi announced key acquisitions of East End Advisors and Envoi, aiming to bolster their wealth management platform and expand their operations. These acquisitions, subject to regulatory approval, are expected to contribute to the company’s future results.
Despite a decrease in revenues for the Strategic Alternatives segment, AlTi remains focused on organic growth, talent acquisition, and strategic acquisitions to drive accelerated growth in 2024. The company’s management expressed confidence in these recent developments and their potential to generate long-term shareholder value.
InvestingPro Insights
Following the recent insider stock purchases by Michael Tiedemann, CEO of AlTi Global, Inc. (NASDAQ:ALTI), investors are gaining a deeper interest in the company’s financial health and future prospects. AlTi Global’s market capitalization stands at $554.44 million, reflecting the market’s current valuation of the company. Despite the challenges over the past year, with a significant drop in the stock price, there is a sense of optimism as net income is expected to grow this year, an insight supported by analysts and echoed in one of the InvestingPro Tips.
Another InvestingPro Tip suggests that AlTi Global’s stock tends to experience high price volatility, which could be an important consideration for investors looking for potential trading opportunities or those who are more risk-averse. The company’s price/book ratio, as of the last twelve months leading up to Q1 2024, is 1.41, which could indicate that the stock is reasonably valued in terms of its assets.
Revenue growth is another area where AlTi Global has shown impressive figures, with a 111.96% increase in the last twelve months as of Q1 2024. This metric highlights the company’s ability to expand its top-line income significantly, which may be a positive sign for potential investors. However, it’s worth noting that the company has not been profitable over the last twelve months, and it does not pay dividends to shareholders, which could be a factor for those who prioritize income-generating investments.
For investors seeking a more in-depth analysis, there are additional InvestingPro Tips available on InvestingPro, which can provide further guidance on AlTi Global’s performance and outlook. By using the coupon code PRONEWS24, investors can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription to access these valuable insights.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Stock Markets
BioAge Labs (BIOA) Azelaprag Trial Halt Raises Questions About Pre-IPO Disclosures – Hagens Berman
San Francisco, California–(Newsfile Corp. – December 25, 2024) – On December 9, 2024, just months after conducting an initial public offering in September 2024, BioAge Labs, Inc. (NASDAQ: BIOA) made the startling announcement that it was discontinuing a Phase 2 study for its lead product, azelaprag, intended to treat metabolic diseases such as obesity.
Hagens Berman has opened an investigation and urges investors in BioAge who purchased shares in the company’s IPO or on the open market and suffered substantial losses to submit your losses now.
Visit: www.hbsslaw.com/investor-fraud/bioa
Contact the Firm Now: BIOA@hbsslaw.com
844-916-0895
BioAge Labs, Inc. (BIOA) Investigation:
The investigation is focused on the propriety of BioAge’s disclosures about the safety data and other matters related to azelaprag, which the company said in its IPO documents has been “well-tolerated in 265 individuals across eight Phase 1 clinical trials.”
BioAge’s disclosures came into question after the market closed on December 6, 2024, when the company announced the discontinuation of the STRIDES Phase 2 clinical trial evaluating azelaprag in combination with tirzepatide for the treatment of obesity. BioAge said that liver transaminitis was observed in patients receiving azelaprag.
This news drove the price of BioAge shares down almost 80% on December 9, 2024.
“We’re focused on whether BioAge was transparent to investors about the azelaprag safety profile before the December 6 announcement,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in BioAge and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »
If you’d like more information and answers to frequently asked questions about the BioAge investigation, read more »
Whistleblowers: Persons with non-public information regarding BioAge should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email BIOA@hbsslaw.com.
# # #
About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/235182
Stock Markets
Celsius Holdings (CELH) Hit with Investor Class Action Amid Accusations of Oversold Inventory to Pepsi- Hagens Berman
CELH Investors with Losses Encouraged to Contact the Firm
San Francisco, California–(Newsfile Corp. – December 25, 2024) – Celsius Holdings (NASDAQ:), Inc. (NASDAQ: CELH) and certain of its C-Suite officers are embroiled in a securities class action lawsuit, claiming they misrepresented and concealed crucial information about the company’s financial performance, especially concerning its key customer, PepsiCo (NASDAQ:).
Hagens Berman is investigating the allegations and urges investors in Celsius who purchased shares and suffered substantial losses to submit your losses now.
Class Period: Feb. 29, 2024 – Sept. 4, 2024
Lead Plaintiff Deadline: Jan. 21, 2025
Visit: www.hbsslaw.com/investor-fraud/celh
Contact the Firm Now: CELH@hbsslaw.com
844-916-0895
Celsius Holdings, Inc. (CELH) Securities Class Action (WA:):
The lawsuit alleges that during the Class Period, Celsius failed to disclose to investors several critical points:
- Oversold Inventory: Celsius significantly oversold inventory to Pepsi beyond demand, leading to a potential drastic reduction in future purchases.
- Declining Sales: As Pepsi depleted its overstock, Celsius’ sales were projected to decline, impacting its financial health and outlook.
- Unsustainable Sales Rates: The sales rates to Pepsi were unsustainable and created a misleading impression of the company’s performance.
- Misleading Metrics: Consequently, Celsius’ business metrics and financial prospects were overstated
The situation came to light on May 28, 2024, when Celsius’ stock price plummeted nearly 13% following reports from Nielsen indicating slowed sales growth. Analysts highlighted the possibility of significantly reduced sales as Pepsi cut back its inventory.
The stock took another hit on September 4, 2024, dropping over 11% after a company presentation revealed a shortfall of $100 million to $120 million in Pepsi orders compared to the previous year. It was also disclosed that Pepsi had held several million excess cases over the last 18 months.
These revelations have led shareholder rights firm Hagens Berman to investigate the allegations.
“We’re investigating whether Celsius deliberately painted an overly optimistic picture of its relationship with Pepsi, misleading investors about the true state of its financial health and sales sustainability,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in Celsius and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »
If you’d like more information and answers to frequently asked questions about the Celsius case and our investigation, read more »
Whistleblowers: Persons with non-public information regarding Celsius Holdings should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email CELH@hbsslaw.com.
# # #
About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/235180
By Ank Kuipers
PARAMARIBO (Reuters) -Suriname’s fugitive former President Desi Bouterse has died aged 79, the country’s government said on Wednesday, almost a year after he fled authorities to avoid jail following his conviction over the murder of 15 political activists in 1982.
“The government has been informed through the family and its own investigations of the passing of Mr. D. Bouterse, ex-President of the Republic of Suriname,” Foreign Minister Albert Ramdin told Reuters.
The former leader died on Tuesday, the government said, without confirming where, or even in which country. Last week Surinamese authorities raided his home – where supporters gathered to pay their respects on Wednesday morning – but did not find him.
Surinamese President Chan Santokhi, who investigated the case as a police commissioner and later as justice minister, expressed condolences to Bouterse’s family and urged calm in a statement.
“In the spirit of the holiday season and year-end, the president calls on all to remain dignified and calm, maintain peace and order and engage in prayer in the spirit of these special days,” the statement said.
Bouterse dominated politics in the tiny South American country for decades, leading a coup in 1980 and finally leaving office in 2020.
In 2019 he and six others were convicted for their role in the 1982 murders of 15 leading government critics – including lawyers, journalists, union leaders, soldiers and university professors – for which Bouterse received a 20-year prison sentence.
Bouterse had claimed the murdered men were connected to a planned invasion of the former Dutch colony.
Following years of legal back and forth, Bouterse was ordered to report to prison in January but he did not show up on the appointed date.
Though Bouterse avoided prison by going on the run, Reed Brody, a U.S. war crimes prosecutor who monitored the case for the International Commission of Jurists, said justice had caught up with the convicted former president before he died.
“Thanks to the victims’ relatives and their supporters who never gave up, Bouterse will go down in history as a convicted murderer,” Brody said.
The former president’s family will make a statement later on Wednesday, members of his political party told journalists.
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