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Federman & Sherwood Announces Filing of Securities Class Action Lawsuit Against Textron, Inc.

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OKLAHOMA CITY–(BUSINESS WIRE)–#ClassAction–Federman & Sherwood announces that on August 22, 2019, a class action lawsuit was filed in the United States District Court for the Southern District of New York against Textron, Inc. (NYSE: TXT). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is January 31, 2018 through October 17, 2018.

To learn how to participate in this action, please visit https://www.federmanlaw.com/blog/federman-sherwood-announces-the-filing-of-a-securities-class-action-lawsuit-against-textron-inc/

Plaintiff seeks to recover damages on behalf of all Textron, Inc. shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above. You may move the Court no later than Monday, October 21, 2019 to serve as a lead plaintiff for the entire Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.

If you wish to discuss this action, obtain further information and participate in this or any other securities litigation, or should you have any questions or concerns regarding this notice or preservation of your rights, please contact:

Robin Hester

FEDERMAN & SHERWOOD

10205 North Pennsylvania Avenue

Oklahoma City, OK 73120

Email to: rkh@federmanlaw.com

Or, visit the firm’s website at www.federmanlaw.com

Contacts

Robin Hester 

FEDERMAN & SHERWOOD 

rkh@federmanlaw.com

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Business Wire

Western Digital Announces Sale of IntelliFlash Business to DDN and Intention to Exit Storage Systems

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Western Digital to Focus on Fabric-Based Data Center Storage Infrastructure and Platforms

SAN JOSE, Calif.–(BUSINESS WIRE)–Western Digital Corp. (NASDAQ: WDC) today announced that it has entered into a definitive agreement to sell its IntelliFlash™ business to DDN, a global leader in artificial intelligence (AI) and multi-cloud data management. In addition, Western Digital and DDN have agreed to expand their existing partnership through a multi-year strategic sourcing agreement, under which DDN will increase its purchase of Western Digital’s HDD and SSD storage devices.

This announcement is part of Western Digital’s strategic intention to exit Storage Systems, which consists of the IntelliFlash and ActiveScale™ businesses. The company is exploring strategic options for ActiveScale. These actions will allow Western Digital to optimize its Data Center Systems portfolio around its core Storage Platforms business, which includes the OpenFlex™ platform and fabric-attached storage technologies.

“As we look to the future, scaling and accelerating growth opportunities for IntelliFlash and ActiveScale will require additional management focus and investment to ensure long-term success,” said Mike Cordano, president and chief operating officer. “By refocusing our Data Center Systems resources on our Storage Platforms business, we are confident that the Western Digital portfolio will be better positioned to capture significant opportunities ahead and drive long-term value creation.”

“DDN has deep technical expertise and capabilities in high performance and at scale data environments, and is well positioned to build on and accelerate the success of the business,” said Phil Bullinger, senior vice president & general manager of the Data Center Systems business. “Importantly, both Western Digital and DDN are aligned in our commitment to executing a smooth transition for all stakeholders. Western Digital will remain one of the largest consumers of IntelliFlash products, and customers will continue to receive best-in-class service and support.”

The transaction is expected to close later this calendar year, subject to the satisfaction of customary closing conditions. Financial terms of the transaction were not disclosed. Western Digital’s intended exit of Storage Systems is expected to generate an annual non-GAAP EPS benefit of at least $0.20 starting in the fiscal 2020 third quarter ending April 3, 2020. The Company will also incur restructuring and other charges, which are not determinable at this time.

About Western Digital

Western Digital, a leader in data infrastructure, creates environments for data to thrive. The company is driving the innovation needed to help customers capture, preserve, access and transform an ever-increasing diversity of data. Everywhere data lives, from advanced data centers to mobile sensors to personal devices, our industry-leading solutions deliver the possibilities of data. Our data-centric solutions are marketed under the G-Technology™, SanDisk®, WD®, and the Western Digital® brands.

Western Digital, the Western Digital logo, OpenFlex, ActiveScale and IntelliFlash are registered trademarks or trademarks of Western Digital Corporation or its affiliates in the US and/or other countries. All other marks are the property of their respective owners.

Note Regarding Non-GAAP Financial Measures

This news release discloses the non-GAAP EPS benefit expected from the transaction. Non-GAAP EPS is a financial measure that is not presented in accordance with U.S. generally accepted accounting principles (“GAAP”). The expected Non-GAAP EPS benefit disclosed herein excludes the amortization of acquired intangible assets, stock-based compensation expense, employee termination, asset impairment and other charges, charges related to cost saving initiatives and convertible debt activity. The timing and amount of these charges and additional charges that may impact the non-GAAP EPS benefit cannot be quantified and are dependent on the timing and determination of certain actions and, therefore, cannot be reasonably predicted. Accordingly, a full reconciliation of non-GAAP EPS benefit to the comparable GAAP financial measure depicting the impact of the transaction on a GAAP basis is not available without unreasonable effort.

Forward-Looking Statements

This news release contains forward-looking statements that involve risks and uncertainties, including, but not limited to, statements regarding the timing and expected impact of our strategic partnership and related transaction with DDN, business strategies and growth opportunities, and product and technology portfolio. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements.

Key risks and uncertainties include the possibility that conditions to closing the transaction may not be satisfied, such that the transaction will not close or that the closing may be delayed; volatility in global economic conditions; business conditions and growth in the storage ecosystem; impact of competitive products and pricing; actions by competitors; unexpected advances in competing technologies; our development and introduction of products based on new technologies and expansion into new data storage markets; difficulties or delays in manufacturing; and other risks and uncertainties listed in the company’s filings with the Securities and Exchange Commission (the “SEC”) and available on the SEC’s website at www.sec.gov, including our most recently filed periodic report, to which your attention is directed. We do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.

Contacts

Jim Pascoe

Corporate Communications

408.717.6999

jim.pascoe@wdc.com

Peter Andrew

Investor Relations

949.672.9655

peter.andrew@wdc.com

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Business Wire

BrightView to Participate in the Berenberg US Stockpicker Conference

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BLUE BELL, Pa.–(BUSINESS WIRE)–BrightView Holdings, Inc. (NYSE: BV) (“the Company” or “BrightView”), the leading commercial landscaping services company in the United States, today announced that it will participate in the Berenberg US Stockpicker Conference. The event will consist of one-on-one meetings throughout the day. It will take place in New York City on Thursday, October 3, 2019. The expected attendees from BrightView are Andrew Masterman (President and CEO), John Feenan (Executive Vice President and CFO) and Daniel Schleiniger (Vice President, Investor Relations).

About BrightView

BrightView is the largest provider of commercial landscaping services in the United States. Through its team of approximately 22,000 employees, BrightView provides services ranging from landscape maintenance and enhancements to tree care and landscape development for thousands of customers’ properties, including corporate and commercial properties, HOAs, public parks, hotels and resorts, hospitals and other healthcare facilities, educational institutions, restaurants and retail, and golf courses, among others. BrightView is the Official Field Consultant to Major League Baseball.

Contacts

INVESTOR RELATIONS CONTACT:
Daniel Schleiniger, VP of Investor Relations

484.567.7148

Daniel.Schleiniger@BrightView.com

MEDIA CONTACT:
Fred Jacobs, VP of Communications & Public Affairs

484.567.7244

Fred.Jacobs@BrightView.com

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Business Wire

GTY’s Business Unit, Questica, Releases New Analytics Capabilities for Its Budget Suite

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Revamped dashboards and reporting features enable secure and actionable client insights

AUSTIN, Texas–(BUSINESS WIRE)–GTY Technology Holdings Inc. (Nasdaq: GTYH) (“GTY”), a leading provider of SaaS/Cloud solutions for the public sector, announces that its budgeting and transparency subsidiary, Questica Software Inc. (“Questica”), has released revamped dashboard and reporting features for its Questica Budget suite.

The new feature updates allow clients to spend less time compiling numbers and generating reports. Instead, clients can efficiently explore and analyze their budget and other data for actionable insights that can help drive priorities and positive outcomes for those they serve.

“Today’s public sector organizations are under intense pressure to deliver programs and services in a fiscally responsibly manner,” said Stephen Rohleder, CEO of GTY Technology. “Questica’s commitment to ongoing product innovation is one of the ways they deliver an exceptional customer experience. Questica consistently tailors their solutions to meet client requirements by listening to our clients’ strategic priorities, then working with them to build those features.”

Questica Budget’s latest software release (2019.3) enhances the already robust analytics and reporting functionality within the system, allowing users to:

  • Create, personalize and share intuitive dashboards and onscreen reporting with an easy-to-use drag and drop interface
  • Drill-down and drill-through dashboards and Smart reports
  • Turn on/off the table and data visualization chart options for Smart onscreen reporting
  • Access the Report Center’s ready-built, editable templates and add in any additional data desired such as other calculated columns and table features
  • Create reports that have a clean modern look with standard headers, footers, and logo embed options
  • Secure and share the data on dashboards and reports, so users only see what they need to see.

“Data is an important and strategic asset that informs decisions about the programs and services that can be provided, so we want to change how our clients see their budget and financial data,” states James Orr, Product Manager at Questica. “Our contextual dashboards with their interactive charts and widgets can provide organizations better collaboration and decision-making abilities, whether it is accessing cost center and project specific details, comparing the budget to actuals, or assessing performance trends over time.”

For more information about how Questica Budget Suite can help transform your organization’s budgeting and reporting process, please visit our website at questica.com, or schedule a personal demonstration with one of our budget professionals.

About Questica

Questica is the recognized leader in budget preparation and management software that enables data-driven budgeting and decision-making, while increasing data accuracy, saving time and improving stakeholder trust. Over 700 education, government and healthcare organizations across North America have opted for smarter planning, budgeting, management, transparency and sharing with our software solutions. Questica is a GTY Technology company (NASDAQ: GTYH).

Read Questica News & Blog: www.questica.com/news

Follow Questica on LinkedIn: www.linkedin.com/company/questica

Follow Questica on Twitter: www.twitter.com/QuesticaInc

Related links:

http://www.questica.com/

About GTY Technology Holdings Inc.

GTY Technology Holdings Inc. (NASDAQ: GTYH) (“GTY”)) brings leading public sector technology companies together to achieve a new standard in stakeholder engagement and resource management. Through its six business unites, GTY offers an intuitive cloud-based suite of solutions for state and local governments, education institutions, and healthcare organizations spanning functions in procurement, payments, grant management, budgeting, and permitting: Bonfire provides strategic sourcing and procurement software to enable confident and compliant spend; CityBase provides government payment solutions to connect constituents with utilities and government agencies; eCivis offers a grant management system to maximize grant revenues and track performance; Open Counter provides government payment software to guide applicants through complex permitting and licensing procedures; Questica offers budget preparation and management software to deliver on financial and non-financial strategic objectives; Sherpa provides public sector budgeting software and consulting services.

Contacts

Media Contacts

Wendy McLean-Cobban

Marketing Director, Questica

Wendy.mclean-cobban@questica.com
C: (416) 998-2407

W: (877) 707-7755 ext. 585

Carter Glatt

Senior Vice President, Corporate Development, GTY

carter@gtytechnology.com
(702) 945-2898

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