Tag: law

01
Oct
2020
Posted in technology

The Law Offices of Frank R. Cruz Announces Investigation of Fulton Financial Corporation (FULT) on Behalf of Investors

The Law Offices of Frank R. Cruz announces an investigation of Fulton Financial Corporation (“Fulton” or the “Company”) (NASDAQ: FULT) on behalf of investors concerning the Company’s possible violations of federal securities laws.

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On September 28, 2020, the U.S. Securities and Exchange Commission (“SEC”) announced that Fulton had been charged with accounting and disclosure violations. Specifically, the SEC stated that, in two quarters in which Fulton was on track to meet or beat analyst consensus EPS estimates, Fulton included a valuation allowance that “was at odds” with its reported methodology. Then, in mid-2017, “Fulton belatedly reversed the valuation allowance, increasing its EPS by a penny in a quarter when it otherwise would have fallen short of consensus estimates.”

On this news, the Company’s share price fell sharply during intraday trading on September 29, 2020.

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If you purchased Fulton securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201001006222/en/

Contacts

The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
fcruz@frankcruzlaw.com
www.frankcruzlaw.com

Source Article

30
Sep
2020
Posted in technology

Uber, Lyft look to kill California law on app-based drivers

LOS ANGELES (AP) — Californians are being asked to decide if Uber, Lyft and other app-based drivers should remain independent contractors or be eligible for the benefits that come with being company employees.

The battle between the powerhouses of the so-called gig economy and labor unions including the International Brotherhood of Teamsters could become the most expensive ballot measure in state history. Voters are weighing whether to create an exemption to a new state law aimed at providing wage and benefit protections to drivers.

Uber and Lyft have fought a losing battle in the Legislature and courts. So now — with help from app-based food delivery companies DoorDash, Postmates and Instacart — they are spending more than $180 million to take their fight directly to voters in the Nov. 3 election.

Early voting in California starts Monday. Uber and Lyft, both headquartered in San Francisco, have said they may leave the state if the measure fails.


The landmark labor law known known as AB5 threatens to upend the app-based business model, which offers great flexibility to drivers who can work whenever they choose. But they forego protections like minimum wage, overtime, health insurance and reimbursement for expenses.

“What’s at stake is the future of labor, the nature of work, how conditions are changing for households amidst the pandemic and recession,” said David McCuan, chair of California’s Sonoma State University political science department.

Labor-friendly Democrats in the Legislature passed the law last year to expand upon a 2018 ruling by the California Supreme Court that limited businesses from classifying workers as independent contractors.

Uber and Lyft have maintained that their drivers meet the criteria to be independent contractors, not employees. They also have argued the law didn’t apply to them because they are technology companies, not transportation companies, and drivers are