Market Signal Briefing

Dave Portnoy has re-entered the digital-asset arena with a seven-figure allocation in XRP that has raised eyebrows across the market. At a time when XRP continues to face downward pressure and muted investor sentiment, the Barstool Sports founder executed a decisive million-dollar purchase. The timing, scale, and narrative surrounding the move have prompted renewed scrutiny of an asset many assumed had exhausted its momentum.

Strategic Capital Deployment Amid XRP’s Weak Price Performance
Portnoy recently revealed that he acquired $1,000,000 worth of XRP, alongside $750,000 in Bitcoin and $400,000 in Ethereum. He framed his move bluntly, describing the market as “bleeding” and presenting his purchases as a calculated attempt to buy the dip. This timing is questionable because XRP has been struggling to maintain momentum, with the token falling nearly 15% over the past week and oscillating around the $2.13 mark with no clear breakout in sight.

This downward trajectory is particularly notable given the market’s anticipation that the recent Canary XRP ETF launch would trigger a bullish reaction. Instead, prices trended lower, making Portnoy’s re-entry a contrarian move against prevailing sentiment. His announcement generated swift public attention, with Eric Trump commenting “smart trade” under Portnoy’s post. Among XRP enthusiasts, this could be interpreted as more than casual praise—some view it as a subtle hint of potential positive developments for XRP, recalling the Trump family’s history of well-timed investments before major market spikes.

Meanwhile, market analyst Barri C has fueled optimism with a bullish projection for XRP, suggesting that the asset could experience a rapid, substantial surge in value sooner than widely expected. When combined with Portnoy’s million-dollar allocation, this positions his trade as a forward-looking strategy aligned with emerging bullish signals and broader positive market commentary.

Institutional Momentum May Explain The Timing
XRP is seeing a major institutional shift. Bitwise Asset Management recently announced its spot XRP ETF, set to trade soon on the NYSE under ticker XRP, waiving the 0.34% management fee for the first month on the first $500,000,000, making it easier for traditional investors to gain regulated exposure and participate more efficiently.

These developments create a more supportive market environment, positioning the ETF for a potentially strong launch despite short-term weakness in XRP’s price. While the chart shows a pullback, Bitwise emphasizes that XRP’s regulatory positioning, infrastructure upgrades, and broader capital-market integration have accelerated. Portnoy’s $1,000,000 XRP purchase reflects a strategic bet on these emerging market drivers and potential asset re-pricing as institutional flows begin to enter, rather than on current sentiment. 

In this environment, his decision appears less reactive and more like a calculated move. Whether Portnoy has privileged insight or simply recognizes how institutional adoption reshapes markets, the timing of his allocation signals conviction at a moment when others remain hesitant.

Price struggles to hold gains from bounce | Source: XRPUSDT on Tradingview.com
Featured image created with Dall.E, chart from Tradingview.com

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21h05 ▪
5
min read ▪ by
Luc Jose A.

Summarize this article with:

Little known outside Japan, Metaplanet now intends to play in the big leagues. With an aggressive bitcoin accumulation strategy, this Tokyo-listed company is about to raise 135 million dollars to further strengthen its treasury in BTC. A bold initiative that confirms the growing place of bitcoin in the financial strategies of listed companies, and further fuels the parallel with Strategy.

In brief

Metaplanet, a company listed on the Tokyo Stock Exchange, plans to raise $135 million through the issuance of Class B preferred shares.
This fundraising aims to strengthen its Bitcoin treasury strategy without resorting to traditional debt.
The new shares offer a fixed dividend of 4.9 % and a possibility of conversion into common shares, but without voting rights.
Despite these losses, Metaplanet continues its Bitcoin accumulation, affirming a long-term vision.

A tailored fundraising to support an ambitious Bitcoin strategy
While the company has just reached the top 5 public Bitcoin treasuries, Metaplanet plans to raise 21.2 billion yen (about 135 million dollars) through the issuance of 23.6 million perpetual Class B preferred shares according to an official document submitted to the Tokyo Stock Exchange, at a unit price of 900 yen (about 5.71 dollars).

This fundraising, which must still be approved at an extraordinary general meeting on December 22, 2025, will be conducted with foreign investors via a private placement. The stated goal is to reinforce the treasury strategy focused on bitcoin without resorting to traditional borrowing.

Metaplanet CEO Simon Gerovich confirmed this intention in a post on X : “a new step in the rise of Metaplanet’s Bitcoin treasury strategy”.

From a technical point of view, these Class B shares have several specific characteristics :

A fixed dividend of 4.9 % per year, calculated on a notional value of $6.34, or approximately $0.078 per quarter ;

Possible conversion into common shares at a price of $6.34, but without voting rights ;

Holdings come with redemption rights under certain conditions, providing flexibility to holders ;

An callable option activated by Metaplanet if the share price exceeds 130 % of the liquidation value for 20 consecutive days.

The market reaction was immediate. On the day of the announcement, Metaplanet shares closed up 3.2 %, although they still recorded a drop of more than 60 % over the past six months. This operation illustrates a strategic choice assumed, where development financing is done through hybrid capital tools rather than conventional debt.

The Mercury program : an expansion strategy despite latent losses
Alongside this fundraising, Metaplanet is restructuring its existing financial instruments. The company plans to cancel its 20th to 22nd warrants and create a new series (23rd and 24th), assigned to the Evo Fund based in the Cayman Islands, subject to regulatory approval.

This reorganization, which accompanies the implementation of the Mercury program, aims to strengthen the flexibility of capital financing while pursuing the company’s Bitcoin treasury expansion strategy.

Moreover, Metaplanet currently holds 30,823 BTC, making it the fourth largest public bitcoin holder in the world. However, its exposure is currently in the red, with a latent loss of -15.17%, linked to an average purchase price of $108,036 per BTC.

The company’s strategy raises questions, especially in a context where the Tokyo Stock Exchange is considering strengthening oversight of companies heavily exposed to cryptos, following the crash of the DAT token that already shook the Japanese market earlier this year.

This insistence on strengthening an already deficient position demonstrates a long-term committed positioning on bitcoin. However, it could also expose Metaplanet to increased volatility, both financially and regulatorily. Like Strategy by Michael Saylor, Metaplanet seems to bet on a future appreciation of BTC to validate its strategy.

With this fundraising, Metaplanet pursues a clear strategy: to transform its treasury into a bitcoin reserve. The stated goal is ambitious: Metaplanet aims for 100,000 Bitcoins by 2026, thus confirming its ambition to establish itself as a major institutional player in the crypto market.

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Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019.
Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

Argentina's Milei provided 'essential collaboration' for Libra project, congressional report findsPolicy
• November 20, 2025, 3:11PM EST

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Quick Take
An Argentine congressional committee has released its final report on the $LIBRA token collapse, alleging a pattern of state-backed crypto promotion.
The opposition-led committee claims President Javier Milei provided “essential collaboration” for the project and suggests the behavior warrants an evaluation for misconduct in office. 
New findings link similar trading patterns to the previously launched KIP Protocol.
An investigative committee within the Argentine Chamber of Deputies has released a scathing final report on the collapse of the Libra cryptocurrency, recommending that the National Congress evaluate whether President Javier Milei incurred "misconduct in office" for his role in promoting the token.

Milei had promoted the Libra cryptocurrency, intended to bootstrap funding into domestic small businesses, with an X post from his personal account that he later deleted after 8 wallets related to the Libra team cashed out $107 million.

The report, titled "$LIBRA WAS NOT AN ISOLATED EVENT," concludes that the widespread losses associated with the token were not merely the result of poor oversight, but arguably the result of a "deliberate will to evade institutional controls."

A summary of the 200-page report's final considerations, provided to The Block by Juan Marino, an Argentine politician and the secretary of the investigative committee, concluded, "Javier Milei involved the presidential investiture to allow the alleged $LIBRA scam to effectively take place: without his tweet, $LIBRA would not have had the volume of purchases it did."

Milei has denied wrongdoing in the scandal and, in May, disbanded an investigative task force set up by his office to probe the Libra scandal and its connections to Milei and his sister, Karina Milei, days after a judge asked Argentina's Central Bank to unseal both the president's and his sister's bank accounts. 

Milei and the Libra founders, including American entrepreneur Hayden Davis, are facing a judicial investigation in Argentina, as well as a class action lawsuit from Burwick Law, a New York-based firm specializing in cryptocurrency scams.

The report alleges that 114,410 wallets lost money trading Libra. 

A "pattern" of misbehaviorWhile the Libra collapse in February 2025 drew the most international attention, the committee’s report outlines a pattern of behavior beginning months earlier. Investigators flagged the launch of the KIP Protocol in December 2024 as a factual precedent.

According to the committee, President Milei publicly validated KIP shortly before its liquidity pools were drained, a sequence of events that repeated with $LIBRA. On-chain analysis cited in the report alleges that operator Manuel Terrones Godoy converted $KIP tokens to USDT and transferred funds to associate Mauricio Novelli on the same day as the token’s public launch.

The committee stated that this repetition "makes plausible the hypothesis" that the administration systematically bypassed technical bodies like the National Securities Commission (CNV) to facilitate these projects.

"In both cases, the cryptocurrencies were launched after having received some type of public validation by the President of the Nation, after which the liquidity pools were emptied, generating an abrupt drop in price," the report states.

Milei's promotion of the KIP protocol has not previously received the same level of scrutiny as the Libra scandal. "Although $KIP did not reach the repercussion of $LIBRA — given that the latter counted on sustained presidential promotion via a tweet pinned for hours—it did establish a factual and temporal precedent," the report states. 

The committee also found that Milei had promoted an NFT game called "Vulcano," created by Novelli, and "CoinX," a company raided by the Judiciary in the context of a fraud investigation initiated in 2022. 

Legislators from Milei's party La Libertad Avanza reportedly attended the Tuesday meeting of the investigative committee, according to El País, and " rejected the report and argued that the opposition did not secure enough support to move it forward," though the lawmakers did not present an alternate proposal. 

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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AUTHOR Zack Abrams is a writer and editor based in Brooklyn, New York. Before coming to The Block, he was the Head Writer at Coinage, a Web3 media outlet covering the biggest stories in Web3. The story he co-reported on Do Kwon won a 2022 Best in Business Journalism award from SABEW. Other projects included a deep dive into SBF's defense based on exclusive documents and unveiling the identity of the hacker behind one of 2023's biggest crypto hacks — so far. He can be reached via X @zackdabrams or email, [email protected]. See More

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Here's how Bitwise's XRP ETF is doing so far during its launch day.

The third-largest non-stablecoin cryptocurrency has another exchange-traded fund tracking its performance going live today on Wall Street.

After Canary Capital’s launch last week, Bitwise’s XRP ETF hit the New York Stock Exchange under the XRP ticker as of this morning. The company behind the asset described it as a “milestone day for the XRP community,” and outlined some of the most notable facts about Ripple and its native token.

Milestone day for the XRP community!

This morning, the Bitwise XRP ETF began trading on NYSE (ticker: $XRP). With today’s launch, investors have a new, convenient way to get spot exposure to XRP, the crypto asset looking to disrupt the $250 trillion market for global payments.… pic.twitter.com/DA295tl6tO

— Bitwise (@BitwiseInvest) November 20, 2025

A few hours after the new crypto-focused financial vehicle reached the US markets, Bloomberg’s ETF expert said that it had neared a $22 million trading volume on its opening day. He believes it’s “quite impressive” given the fact that it’s the second such ETF to go live in the US in just a week after Thursday’s launch of Canary Capital’s XRPC.

Recall that XRPC broke the records for a 2025 debut with a trading volume of almost $60 million on day one. Canary’s CEO was quick to congratulate Bitwise for the XRP ETF release, which shows Wall Street that “you don’t have to be BlackRock to launch the top 5 ETFs of 2025.”

Huge congratulations to our friends at @bitwise on their XRP ETF today!

We are showing Wallstreet that you don’t have to be Blackrock to launch the top 5 ETFs of 2025. We are rooting for you to get this one in top 5 too, as long as you don’t knock us out of first.

Thank you for…

— Steven McClurg (@stevenmcclurg) November 20, 2025

In the meantime, the launch of two ETFs in just a week hasn’t spared the underlying asset from tumbling alongside the rest of the cryptocurrency market. XRP is down by another 2% in the past 24 hours as it just slipped below $2.00. Moreover, the asset has plummeted by 15% since last Thursday, when Canary Capital’s ETF hit the markets.

You may also like:

$180M Liquidated in 1 Hour as BTC, ETH, and XRP Crash Harder

Ripple’s XRP Hit $2.03 for a Reason: Analysts Say the Macro Bottom Is In

Retail Fear Hits BTC, ETH, and XRP: But Analysts Say It’s a Bullish Catalyst

Tags:

About the author

Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017 and now serves as CryptoPotato's Assistant Editor-in-Chief. He has managed numerous crypto-related projects and is passionate about all things blockchain.

Bitcoin has slipped below $90,000 as crypto markets have faced renewed pressure, with U.S. spot ETFs logging nearly $3 billion in November outflows and OG wallets selling into thin liquidity amid fragile broader risk sentiment.

Key Takeaways Bullish delivered Q3 EPS of $0.10 and a 72% year-over-year jump in adjusted revenues.
Subscription, Services & Other revenues surged over 300% from the year-ago quarter.
Adjusted EBITDA climbed 271% year over year, with cash rising to $69.3 million.

Bullish (BLSH - Free Report) reported third-quarter 2025 earnings of 10 cents per share. The company reported a loss of 59 cents per share in the year-ago quarter.

Total adjusted revenues increased 72% year over year to $76.5 million. Sequentially, it increased 34%. Total revenues increased mainly due to strong growth in Subscription, Services & Other (SS&O) revenues.

BLSH shares have risen 0.96 % in pre-market trading.

BLSH Q3 Top-Line DetailsAdjusted Transaction Revenues (34.9% of total revenues) decreased 18.84% year over year to $26.7 million. Digital asset sales decreased significantly from $54.2 billion a year ago quarter to $41.6 billion.

SS&O revenues, including liquidity services and all CoinDesk-branded products, reached $49.8 million in the third quarter of 2025. This represents growth of more than 50% sequentially and over 300% year over year.

BLSH Q3 Operating DetailsIn the third quarter of 2025, the company reported adjusted operating expenses of $ 47.9 million, which increased 29.8% year over year. Sequentially, operating expenses declined 2%.

  The adjusted net income for the third quarter of 2025 was $13.8 million compared to a loss of $3.1 million in the year-ago quarter.

Adjusted EBITDA was $28.6 million, which increased 271% year over year. Sequentially, it increased 253%.

BLSH Balance Sheet DetailsAs of Sept. 30, 2025, BLSH had total cash and cash equivalents of $69.3. million compared with $36 million as of June 30, 2025.

BLSH Q4 GuidanceIn the fourth quarter of 2025, Bullish expects Subscription, Services & Other revenues to be between $47.0 million and $53.0 million.

Adjusted Operating Expenses are expected to be between $48.0 million and $50.0 million.

Zacks Rank & Other Stocks to ConsiderBLSH currently carries a Zacks Rank #2 (Buy).

Some other top-ranked stocks in the broader Zacks Computer and Technology sector are BlackBerry (BB - Free Report) , NCino (NCNO - Free Report) and Chegg (CHGG - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for BlackBerry’s third-quarter fiscal 2026 earnings is pegged at 4 cents per share, implying year-over-year growth of 100%. BB shares have gained 11.6 % in the year-to-date period.

The Zacks Consensus Estimate for NCino’s third-quarter fiscal 2026 earnings is pegged at 20 cents per share, indicating a year-over-year decrease of 4.76%. NCNO shares have declined 27.7 % in the year-to-date period.

The Zacks Consensus Estimate for Chegg’s fourth-quarter 2025 earnings is pegged at negative 1 cent per share, indicating a year-over-year decrease of 105.88%. Chegg’s shares have declined 38.5% year to date.

The Zacks Glass Products industry is poised to benefit from the rising demand for glass, both as a packaging option and for use in construction. This is backed by its endless recyclability and sustainability benefits. Growing demand for energy-efficient, smart windows or smart glass panels will be another catalyst for the industry going forward.

Companies like O-I Glass, Inc. (OI - Free Report) and Apogee Enterprises (APOG - Free Report) are expected to gain from efforts to capitalize on this demand by boosting capacity and introducing innovative products to the market.

About the Industry
The Zacks Glass Products industry comprises companies that manufacture and sell glass products. O produces glass containers for packaging beverages, food and pharmaceuticals. Another player in the industry offers coated and high-performance glass used in customized window and wall systems. It caters to the construction industry, ranging from commercial and multi-family residential to institutional buildings. It also provides coated glass for picture framing, wall décor and display applications. Nowadays, companies that make glass for buildings offer smart glass windows using artificial intelligence to adjust and suitably increase access to natural light while minimizing heat and glare. Some have developed electrokinetic technology that can be retrofitted on any glass, enabling buildings to cut energy consumption and save on heating and cooling costs.

Major Trends Shaping the Future of the Glass Products Industry
Glass Packaging Gaining Popularity: Glass is increasingly becoming the packaging choice for customers, given its endless recyclability without a loss in quality. More than 80% of recycled bottles are used in making new bottles. This also helps negate the need for raw materials. Every ton of recycled glass saves 1,400 pounds of sand, 430 pounds of soda ash and 400 pounds of limestone/dolomite. As consumers are becoming more aware of their environmental footprint, a sharp spike in demand is noticed for refillable bottles, which offer the most sustainable and economical rigid packaging option. Manufacturers are focusing on improving their products by reducing the weight of the bottles for more convenient handling. Also, premium cosmetic and beverage brands are opting for glass to differentiate their products through packaging and ensure quality maintenance.

Demand in the Construction Sector Holds Promise: In recent years, the use of glass gained popularity in construction as a sustainable alternative to traditional building materials, including wood and bricks, owing to its cost-effectiveness, lightweight, immense strength and environmentally friendly factor. Glass increases the influx of natural light in the building, reduces energy consumption, minimizes carbon emissions and enhances the aesthetic appeal of structures. Rising construction activities across the residential, commercial and industrial sectors are likely to fuel the glass products industry’s growth. Increasing investments in the renovation or modernization of the existing infrastructure will also drive the industry’s growth. Various governments are introducing favorable policies and granting incentives to promote green construction to minimize greenhouse emissions and energy consumption, which bodes well for the industry.

Technological Innovation is the Key: Some players revolutionized the industry by bringing smart glass panels or smart windows to the market. These innovative products are designed to enable people to lead healthier and more productive lives by increasing access to daylight and views while minimizing glare and heat from the sun and keeping occupants comfortable. These products also help cut down on energy consumption from lighting and HVAC, thus reducing carbon emissions.

Pricing, Improving Efficiency to Offset Cost Inflation: The industry is witnessing rising costs for transportation, chemical and fuel, and supply-chain headwinds. Therefore, industry players are increasingly focusing on pricing actions and cost reduction and resorting to automation in manufacturing to boost productivity and efficiency.

Zacks Industry Rank Indicates Bright Prospects
The Zacks Glass Products industry is a two-stock group within the broader Industrial Products sector. The industry currently carries a Zacks Industry Rank #13, which places it in the top 5% of the 245 Zacks industries.

The group’s Zacks Industry Rank, basically the average of the Zacks Rank of all the member stocks, indicates bullish prospects in the near term. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

The industry’s positioning in the top 50% of the Zacks-ranked industries is a result of a solid earnings outlook for the constituent companies in aggregate. Looking at the aggregate earnings estimate revisions, it appears that analysts are gradually gaining confidence in this group’s earnings growth potential. The industry’s earnings estimate for the current year has gone up 4% over the past three months.

Before we present two Glass Products stocks for investors’ consideration, it is worth looking at the industry’s stock-market performance and its valuation picture.

Industry Versus S&P 500 & Sector
The Glass Products industry has underperformed the S&P 500 and the sector in the past year. The stocks in this industry have collectively declined 28% against the Industrial Products sector’s gain of 11.6%. The S&P 500 composite has risen 15.8% during the said time frame.

One-Year Price Performance

Industry's Current Valuation
Based on the trailing 12-month EV/EBITDA ratio, a commonly used multiple for valuing Glass Products companies, we see that the industry is currently trading at 4.71X compared with the S&P 500’s 18.01X and the Industrial Products sector’s 24.13X. This is shown in the charts below.

Enterprise Value/EBITDA (EV/EBITDA) Ratio (TTM)

Enterprise Value/EBITDA (EV/EBITDA) Ratio (TTM)

Over the last five years, the industry traded as high as 9.42X and as low as 1.73X, the median being 5.90X.

2 Glass Products Stocks to Add to Your Portfolio
O-I Glass: The company is currently implementing the first phase of its Fit to Win initiative, which is expected to run at least through 2026. It is expected to reduce redundant production capacity, optimize the network and streamline costs in areas such as selling, general and administrative expenses. Management expects to generate benefits of $250-$300 million from the program in 2025. On a cumulative basis, it is expected to lead to more than $650 million of benefits through 2027. OI is moving forward with the rollout of ULTRA, its proprietary technology designed to reduce the weight of glass containers by up to 30%. To support these efforts, the company is collaborating with third-party vendors on research, development and engineering for projects requiring additional resources or specialized expertise.

Perrysburg, OH-based O-I Glass manufactures and sells glass containers to food and beverage manufacturers, primarily in the Americas, Europe and the Asia Pacific. OI’s earnings estimates for fiscal 2025 have moved up 8.2% over the past 60 days. The consensus estimate for earnings of $1.59 per share indicates 96.3% year-over-year growth. OI has a long-term estimated earnings growth rate of 40.6%. The company has a trailing four-quarter earnings surprise of 53.8%, on average. O-I Glass currently carries a Zacks Rank #2 (Buy).

 You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Price & Consensus: OI

Apogee: The company continues to focus on improving efficiency, cost control and driving productivity gains. In April 2025, Apogee launched the second phase of Project Fortify to drive cost efficiencies, mainly focused on the Architectural Services and Architectural Metals segments. This is expected to streamline the manufacturing footprint. Apogee expects to realize annualized pre-tax cost savings of approximately $13-$15 million. The company has been reshaping its portfolio by exiting underperforming product lines, while investing in top-performing businesses. It has also been expanding higher-margin, value-added offerings. It is also pursuing a disciplined merger and acquisition strategy, the latest being of UW Solutions. The company’s solid liquidity position, coupled with a strong free cash flow, also places it well for growth. Earlier this year, it raised its dividend by 4%, the 12th consecutive year of dividend increase. During this time, Apogee’s quarterly dividend has grown 189%.

The Minneapolis, MN-based entity has a trailing four-quarter earnings surprise of 7.31%, on average. Apogee currently carries a Zacks Rank #3 (Hold).

Price & Consensus: APOG

Salesforce said on Wednesday that it’s investigating a breach of “certain customers’ Salesforce data” that was compromised through apps published by Gainsight, a company that sells a platform for other companies to manage their customers. 

In a notice published late Wednesday, Salesforce said the hacks involve “Gainsight-published applications connected to Salesforce, which are installed and managed directly by customers.” 

Salesforce said that there is “no indication that this issue resulted from any vulnerability in the Salesforce platform,” and that the activity appears related to Gainsight’s “external connection to Salesforce.”

When reached for comment, Salesforce spokesperson Nicole Aranda referred TechCrunch to the company’s page dedicated to the incident. 

Contact Us
Do you have more information about these Salesforce and Gainsight data breaches? Or other data breaches? From a non-work device, you can contact Lorenzo Franceschi-Bicchierai securely on Signal at +1 917 257 1382, or via Telegram and Keybase @lorenzofb, or email. You also can contact TechCrunch via SecureDrop.

As of this writing, Gainsight said in a status page that it is investigating a “Salesforce connection issue,” without making any reference to a potential breach. “Our internal investigation is ongoing,” Gainsight wrote.

A spokesperson for Gainsight did not immediately respond to TechCrunch’s request for comment.

On its website, Gainsight touts several corporate customers, including Airtable, Notion, GitLab, and others. When reached by email, GitLab spokesperson Emily James told TechCrunch that the Gitlab’s “security team is investigating and we’ll get back to you when we have more to share.”

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The prolific hacking group ShinyHunters told cybersecurity news website DataBreaches.net that it was behind the breach, adding that if Salesforce doesn’t negotiate with them, they will create a new website to advertise the stolen data — a common extortion tactic by financially-motivated cybercriminals. 

“The next [data leak site] will contain the data of the Salesloft and GainSight campaigns,” the hackers told DataBreaches.net. The hackers claim to have stolen data from close to a thousand companies.

This data breach appears similar to an August breach at AI marketing chatbot maker Salesloft, which allowed the hackers to break into a number of their customers’ connected Salesforce instances to steal sensitive data, such as access tokens for other services. Among the victims included insurance giant Allianz Life, Bugcrowd, Cloudflare, Google, fashion conglomerate Kering, Proofpoint, the airline Qantas, carmaker Stellantis, credit bureau TransUnion, the employee management platform Workday, and others. 

In the case of the Salesloft breaches, the hacking group Scattered Lapsus$ Hunters, which apparently includes the ShinyHunters gang, claimed responsibility. 

Last month, the hackers launched a dedicated website to extort the victims of the breaches, where they threatened to release a billion records. 

At the time, Gainsight confirmed it was among the victims of the Salesloft-linked breaches, but it’s unclear if this new wave of hacks originated from its earlier compromise.

Lorenzo Franceschi-Bicchierai is a Senior Writer at TechCrunch, where he covers hacking, cybersecurity, surveillance, and privacy.

You can contact or verify outreach from Lorenzo by emailing [email protected], via encrypted message at +1 917 257 1382 on Signal, and @lorenzofb on Keybase/Telegram.

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Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In Molina To Contact Him Directly To Discuss Their Options

If you purchased or acquired securities in Molina between February 5, 2025 and July 23, 2025 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

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NEW YORK, Nov. 20, 2025 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Molina Healthcare, Inc. (“Molina” or the “Company”) (NYSE: MOH) and reminds investors of the December 2, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.

As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose: (1) material, adverse facts concerning the Company’s “medical cost trend assumptions;” (2) that Molina was experiencing a “dislocation between premium rates and medical cost trend;” (3) that Molina’s near term growth was dependent on a lack of “utilization of behavioral health, pharmacy, and inpatient and outpatient services;” (4) as a result of the foregoing, Molina’s financial guidance for fiscal year 2025 was substantially likely to be cut; and (5) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

On July 7, 2025, before the market opened, Molina issued a press release announcing financial results for the second quarter of 2025 and slashing full year 2025 adjusted earnings per share guidance. The press release revealed the Company’s second quarter 2025 adjusted earnings of approximately $5.50 per share, which was “below its prior expectations” due to “medical cost pressures in all three lines of business.” The Company announced it “expects these medical cost pressures to continue into the second half of the year” and cut guidance for expected adjusted earnings per share 10.2% at the midpoint, from “at least $24.50 per share” to a “range of $21.50 to $22.50 per share.” The press release revealed Molina was experiencing a “short-term earnings pressure” from a “dislocation between premium rates and medical cost trend which has recently accelerated.”

On this news, Molina’s stock price fell $6.97, or 2.9%, to close at $232.61 per share on July 7, 2025, on unusually heavy trading volume.

Then, on July 23, 2025, after the market closed, Molina issued a press release reporting its financial results for the second quarter ended June 30, 2025 and further slashing the Company’s full-year 2025 earnings guidance. The press release revealed, in part, that the Company’s “GAAP net income was $4.75 per diluted share for the second quarter of 2025, a decrease of 8% year over year;” and it “now expects its full year 2025 adjusted earnings to be no less than $19.00 per diluted share.” This represented another 13.6% cut to guidance of earnings per share at the midpoint, from the cut to guidance announced less than two weeks earlier. The Company also cut its guidance for its full year 2025 GAAP net income 27% to $912 million. The Company attributed its results a full year outlook to a “challenging medical cost trend environment,” including mere “utilization of behavioral health, pharmacy, and inpatient and outpatient services.” The Company alleged its guidance cut also reflected “new information gained in the quarterly closing process.”

On this news, Molina’s stock price fell $32.03, or 16.84%, to close at $158.22 per share on July 24, 2025, on unusually heavy trading volume.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.  

Faruqi & Faruqi, LLP also encourages anyone with information regarding Molina’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

To learn more about the Molina Healthcare, Inc. class action, go to www.faruqilaw.com/MOH or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

Follow us for updates on LinkedIn, on X, or on Facebook.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8efe611c-af3a-49a0-8555-328d07292024

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In Stride To Contact Him Directly To Discuss Their Options

If you purchased or acquired securities in Stride between October 22, 2024 and October 28, 2025 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

[You may also click here for additional information]

NEW YORK, Nov. 20, 2025 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Stride, Inc. (“Stride” or the “Company”) (NYSE: LRN) and reminds investors of the January 12, 2026 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.

As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose information regarding the Company’s products and services to public and private schools, school districts, and charter boards. Throughout the Class Period, Stride represented to investors that “[t]hese products and services, spanning curriculum, systems, instruction, and support services are designed to help learners of all ages reach their full potential through inspired teaching and personalized learning.” Unbeknownst to investors, Stride was inflating enrollment numbers, cutting staff costs beyond required statutory limits, ignoring compliance requirements, and losing existing and potential enrollments.

On September 14, 2025, Simply Wall St. published a report stating that the Gallup-McKinley County Schools Board of Education had filed a complaint against Stride, alleging fraud, deceptive trade practices, systemic violations of law, and intentional and tortious misconduct, including inflating enrollment numbers by retaining “ghost students” on rolls to secure state funding per student and ignoring compliance requirements, including background checks and licensure laws for its employees.

On this news, Stride’s stock price fell $18.60, or 11.7%, to close at $139.76 per share on September 15, 2025, thereby injuring investors.

Then, on October 28, 2025, Stride released its first quarter fiscal 2026 financial results, revealing the Company had purposely “limit[ed] enrollment growth while we improve our execution.” The Company also revealed it had experienced “system implantation issues” resulting in “higher withdrawal rates and lower conversion rate.” The Company stated that “these factors resulted in approximately 10,000 to 15,000 fewer enrollments” and “these challenges will likely restrict [its] in-year enrollment growth.”

On this news, Stride’s stock price fell as much as 51% during intraday trading on October 29, 2025, thereby injuring investors further.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.  

Faruqi & Faruqi, LLP also encourages anyone with information regarding Stride’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

To learn more about the Stride class action, go to www.faruqilaw.com/LRN or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

Follow us for updates on LinkedIn, on X, or on Facebook.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8efe611c-af3a-49a0-8555-328d07292024

Nvidia Corp (NASDAQ:NVDA, XETRA:NVD) delivered another blockbuster quarter, with demand for its AI chips still running red-hot and its newest Blackwell products selling faster than the company can produce them.

Analysts at Bank of America and UBS said the results were so strong that Wall Street will likely need to raise its earnings forecasts for several years out.

Yet despite the stellar numbers, Nvidia shares fell more than 2% on Thursday, dragging the Nasdaq lower. The pullback had little to do with the company’s performance and everything to do with how much investors had already priced in...and what they’re worried about next.

One of Nvidia’s biggest challenges now is simply how widely owned it is. Bank of America notes that more than 75% of institutional investors already hold the stock, and its weight in the S&P 500 has grown so large that it’s difficult for portfolio managers to increase their exposure meaningfully.

When nearly everyone is already invested, there aren’t many incremental buyers left to push the stock higher, especially after a long run-up into earnings. That creates a situation where even terrific results can spark profit-taking rather than another surge.

At the same time, Nvidia’s growth story is so large that it’s starting to make some investors uneasy. Bank of America estimates the company could earn $20 per share by 2030, or even $40 if global AI spending climbs toward levels Nvidia itself has suggested. UBS thinks the company could generate $350 billion to $400 billion in revenue by 2026, far ahead of current analyst forecasts. But the bigger these projections get, the more some investors question whether AI spending can really keep accelerating at this pace, and whether customers such as OpenAI and Anthropic can finance the enormous GPU purchases they want to make. The concern isn’t about Nvidia’s execution; it’s about whether the AI boom can sustain its current trajectory without cooling off.

There are also more practical constraints for investors to consider. Even with demand “off the charts,” as Nvidia put it, real-world bottlenecks remain. Data centers are running into limits on power availability and construction capacity, and rising component costs could put pressure on profits, even though Nvidia expects to hold gross margins in the mid-70s.

Meanwhile, many AI customers are relying increasingly on debt to fund their expansion, another factor that adds uncertainty around how quickly Nvidia can turn its huge order book into revenue.

UBS pointed out that Nvidia’s forecast for next quarter—$65 billion in revenue and 75% gross margins—was very strong but largely in line with what bullish analysts already expected. When expectations are sky-high, merely meeting them isn’t always enough to fuel another rally. For traders who bought ahead of the earnings release, the results offered an opportunity to lock in gains rather than double down.

In the end, Thursday’s stock drop reflects market psychology more than any shift in Nvidia’s business outlook. The company is still growing at an extraordinary pace, analysts continue to lift their estimates, and demand for its AI chips shows no sign of slowing. But when a stock becomes as widely owned and heavily anticipated as Nvidia, it takes a truly surprising result to push it even higher.

The macroeconomic headwinds that have shifted consumer habits and profoundly affected results for major retailers have created a favorable buying environment for off-price retailers like The TJX Companies, enabling it to offer attractive values to still-resilient consumers.

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Significant Losses In Nidec To Contact Him Directly To Discuss Their Options

If you suffered significant losses in Nidec stock or options and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

[You may also click here for additional information]

NEW YORK, Nov. 20, 2025 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Nidec Corporation (“Nidec” or the “Company”) (OTC: NJDCY).

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.

On September 3, 2025, Nidec disclosed it had established a third-party committee to investigate suspicions of improper accounting. The Company further revealed its "investigations found multiple documents suggesting that . . . the Company and its group companies could have engaged in improper accounting with the involvement or knowledge of its or their management[.]"

On this news, Nidec's stock price fell $0.81, or 16.5%, to close at $4.11 per share on September 4, 2025, thereby injuring investors.

Then, on September 26, 2025, Nidec disclosed further investigative findings of additional suspected inappropriate accounting practices, including "cases where the reported value for customs purposes was declared to be lower than the appropriate amount without legitimate reason." The Company also revealed that it "received an audit report containing a disclaimer of opinion" from its auditor due to the "ongoing investigations by the third-party committee, other internal investigations, and other action[s]."

On this news, Nidec's stock price fell $0.29, or 6.6%, to close at $4.09 per share on September 26, 2025.

Then, on October 23, 2025, Nidec published a press release announcing that it was withdrawing its year end forecast, and had decided not to pay a surplus dividend as "investigations by the Third Party Committee regarding suspected inappropriate accounting practices involving the Company and its group, as well as other internal investigations, are ongoing."

On this news, Nidec's stock price fell $1.17, or 25.4%, to close at $3.43 on October 23, 2025.

Finally, on October 27, 2025, the Tokyo Stock Exchange ("TSE") designated Nidec under a Special Security alert in part because "TSE deems that the improvement of the internal management system of said listed company is highly necessary." The alert noted that "[s]ince the initial issue was discovered, the scope of the investigation has continued to expand" and that "deficiencies have already been identified in the Company's company-wide internal control systems (particularly in areas related to information and communication), as well as in the internal controls related to its accounting and financial closing processes."

On this news, Nidec's stock price fell $0.80, or 20.3%, to close at $3.15 per share on October 27, 2025, thereby injuring investors further.

To learn more about the Nidec investigation, go to www.faruqilaw.com/NJDCY or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

Follow us for updates on LinkedIn, on X, or on Facebook.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8efe611c-af3a-49a0-8555-328d07292024

Palo Alto Networks CEO Nikesh Arora discusses the company's continued acquisition streak as it announces plans to buy Chronosphere for $3.35 billion. He joins Caroline Hyde and Ed Ludlow on “Bloomberg Tech.

The artificial intelligence (AI) revolution has sparked such intense demand for advanced semiconductors that it is creating a global manufacturing bottleneck. However, this is not a story of failure, but rather one of overwhelming success.

Bids for the rights to own all or some of Warner Bros. Discovery were delivered at noon Thursday – with deal insiders predicting a winning offer that will fall far short of the $30 a share that CEO David Zaslav said he wanted for the media conglomerate, On The Money has learned.

As of Thursday, the bidding war for WBD, which contains some of the news and entertainment industry’s biggest properties, pits Paramount Skydance – the burgeoning media company run by independent movie producer David Ellison and backed by his father, billionaire Trump donor and Oracle founder Larry Ellison – against Brian Roberts’ media behemoth Comcast and streaming giant Netflix, which is run by Ted Sarandos, Greg Peters and founder Reed Hastings.

Other media and tech companies like Amazon have expressed interest, but it’s unclear if they’re as committed as the main contenders in duking it out in a process that’s expected to last until the end of the year, people close to the bidding war tell On The Money.

Paramount Skydance – the burgeoning media company run by independent movie producer David Ellison and backed by his father, billionaire Trump donor and Oracle founder Larry Ellison – is seeking to buy Warner Bros. Discovery. Getty Images
Warner Bros. Discovery, known as WBD and run by Zaslav since the 2022 merger of Warner Media and Discovery Inc., owns a top studio and the No. 3 streaming service, not to mention CNN and HBO. Zaslav is expected to hold two, maybe three rounds of bidding to push the price up above the $23.50 that Paramount Skydance has already offered for the entire company, according to people close to the matter.

They said Paramount Skydance is expected to enhance its bid to around $25 a share. But people inside the company, including both Ellisons, are being advised they don’t have to engage in a costly bidding war that takes the final price much above $27 a share, the sources added.

That’s because the other major potential bidders, Comcast and Netflix, face significant regulatory hurdles from the Trump administration and its Department of Justice’s antitrust division. Plus, in the case of Comcast, there are balance sheet hurdles in meeting Zaslav’s money demands, sources said. 

Netflix and Comcast are also offering to buy just chunks of WBD – the studio and streaming portions in particular – moves that could create so-called tax leakage, or costly tax consequences for WBD if those bids emerge victorious.

Warner Bros. Discovery owns a top studio and the No. 3 streaming service, not to mention CNN and HBO. REUTERS
On top of that, it’s harder to value their bid compared to Paramount’s, which places a price on WBD in its entirety.

Comcast’s Roberts, meanwhile, has been busy looking for partners to support his bid because of high levels of debt on his balance sheet. Netflix is looking to pay stock for WBD’s streaming business and studio. 

Paramount Skydance is “offering nearly all cash – 80% of its bid — no leakage and regulatory certainty,” said one person involved in the process. “They’re selling the WBD board that by going with them, they have a bird in hand and vast uncertainty with the others.”

A WBD rep had no comment. Reps for Comcast, Netflix and Paramount Skydance had no immediate comment.

Comcast CEO Brian Roberts has been busy looking for partners to support his bid because of high levels of debt on his balance sheet. Bloomberg via Getty Images
Another complicating factor – maybe the biggest – is politics. Netflix and Comcast are run by progressive types in Silicon Valley and the mainstream media. Comcast owns the notoriously anti-MAGA MSNBC, which Trump loathes. In contrast, the Ellisons have been seeking to instill more balanced news coverage at its reliably lefty news and entertainment subsidiary, CBS. 

“I can’t imagine Trump wants to approve any deal that makes Brian Roberts or Reed Hastings stronger,” said a person close to the deal.

As first reported by On The Money, Zaslav, a veteran media executive, is looking for a final price for WBD “with a three in it” – meaning at least $30 a share, a deal valued at $70 billion. Yet the Trump administration — which can sue to stop any merger — has already made it clear what firm it would prefer in the WBD bakeoff, and that would be Paramount Skydance, run by his “friends” Larry and David Ellison.

Another complicating factor – maybe the biggest – is politics. Netflix and Comcast are run by progressive types in Silicon Valley and the mainstream media. Getty Images
Given Trump’s love of all things Ellison, their antitrust review is likely to be quick and clean – six months tops before the deal gets the green light.

If Comcast does emerge as the top WBD bidder, Trump’s antitrust chief Gail Slater is expected to launch a probe focusing on the fact that Comcast would own two of the biggest studios. The  process could last two years if Brian Roberts decides to litigate a negative finding by antitrust in federal court, where it’s unclear whether he would even win.

WBD CEO David Zaslav is expected to hold two, maybe three rounds of bidding to push the price up above the $23.50 that Paramount Skydance has already offered for the entire company, sources say. AFP via Getty Images
Ditto for Netflix, which has stayed out of the government’s regulatory spotlight in building the No. 1 streamer – by combining with WBD, it would face a similar review.

The WBD board will have to weigh the cost of waiting for the government and the courts’ long processes of evaluating bids from Comcast and Netflix — compared to a relatively quick approval expected for Paramount Skydance’s bid, said people close to the matter. In the end, Zaslav and the board could walk away from all the bids and continue with their plan to break up WBD in the spring, the sources said.

Before the bidding war began in September, Zaslav was moving forward with separating WBD into a studio and streaming company, and one that holds the cable properties. He could revisit the sale next year and begin selling WBD piecemeal.

RADNOR, Pa., Nov. 20, 2025 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that securities class action lawsuits have been filed against DexCom, Inc. (“DexCom”) (NASDAQ: DXCM) on behalf of those who purchased or otherwise acquired DexCom securities between January 8, 2024, and September 17, 2025, inclusive (the “Class Period”). The lead plaintiff deadline is December 26, 2025.

CONTACT KESSLER TOPAZ MELTZER & CHECK, LLP:
If you suffered DexCom losses, you may CLICK HERE or copy and paste the following link into your browser: https://www.ktmc.com/new-cases/dexcom-inc-1?utm_source=Globe&mktm=PR

You can also contact attorney Jonathan Naji, Esq. by calling (484) 270-1453 or by email at [email protected].

DEFENDANTS’ ALLEGED MISCONDUCT:
The complaints allege that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) DexCom had made material design changes to its G6 and G7 continuous glucose monitoring systems that were unauthorized by the FDA; (2) the foregoing design changes rendered the G6 and G7 less reliable than their prior iterations, presenting a material health risk to users relying on those devices for accurate glucose readings; (3) DexCom’s purported enhancements to the G7, as well as the device’s reliability, accuracy, and functionality, were overstated; (4) DexCom downplayed the true scope and severity of the issues and health risks posed by adulterated G7 devices; (5) all the foregoing subjected DexCom to an increased risk of heightened regulatory scrutiny and enforcement action, as well as significant legal, reputational, and financial harm; and (6) as a result, Defendants’ public statements were materially false and/or misleading at all relevant times.

Please CLICK HERE to view our video or copy and paste this link into your browser: https://youtube.com/shorts/ToTm4-K0ODs?feature=share

THE LEAD PLAINTIFF PROCESS:
DexCom investors may, no later than December 26, 2025, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.

Kessler Topaz Meltzer & Check, LLP encourages DexCom investors who have suffered significant losses to contact the firm directly to acquire more information.

CLICK HERE TO SIGN UP FOR THE CASE OR GO TO:
https://www.ktmc.com/new-cases/dexcom-inc-1?utm_source=Globe&mktm=PR

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP:
Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country and around the world. The firm has developed a global reputation for excellence and has recovered billions of dollars for victims of fraud and other corporate misconduct. All of our work is driven by a common goal: to protect investors, consumers, employees and others from fraud, abuse, misconduct and negligence by businesses and fiduciaries. The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visit www.ktmc.com.

CONTACT:

Kessler Topaz Meltzer & Check, LLP
Jonathan Naji, Esq.
(484) 270-1453
280 King of Prussia Road
Radnor, PA 19087
[email protected]

May be considered attorney advertising in certain jurisdictions. Past results do not guarantee future outcomes.

SummaryiShares MSCI Europe Financials ETF remains a "Buy," but with a less compelling bull case than earlier in the year.EUFN’s valuation is less attractive, and seasonal trends suggest sideways price action in the coming months.Technical indicators show short-term weakness, though the long-term trend remains bullish, with support around $32.50.Liquidity is strong, and the ETF offers a high dividend yield, but growth-adjusted valuation has deteriorated since summer. Gary Yeowell/DigitalVision via Getty Images

European banks were a hot trade in the first half of the year. A macro wildcard turned on the space, though. The U.S. Dollar Index (DXY) nearly settled at a six-month high on the session before NVIDIA (

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Q2: 2025-11-19 Earnings SummaryEPS of $0.23 beats by $0.03

 |

Revenue of

$11.88M

(150.04% Y/Y)

beats by $762.80K

Ellington Credit Company (EARN) Q3 2025 Earnings Call November 20, 2025 11:00 AM EST

Company Participants

Alaael-Deen Shilleh - Associate General Counsel & Secretary
Laurence Penn - CEO, President & Trustee
Christopher Smernoff - Chief Financial Officer
Gregory Borenstein - Portfolio Manager

Conference Call Participants

Crispin Love - Piper Sandler & Co., Research Division
Douglas Harter - UBS Investment Bank, Research Division
Eric Hagen - BTIG, LLC, Research Division

Presentation

Operator

Good morning, ladies and gentlemen. Thank you for standing by. Welcome to the Ellington Credit Company Second Fiscal Quarter ended September 30, 2025 Results Conference Call. Today's call is being recorded. [Operator Instructions]

It is now my pleasure to turn the floor over to Alaael-Deen Shilleh, Associate General Counsel. Sir, you may begin.

Alaael-Deen Shilleh
Associate General Counsel & Secretary

Thank you. Before we begin, I'd like to remind everyone that this conference call may include forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are not historical in nature and involve risks and uncertainties detailed in our registration statement on Form N-2. Actual results may differ materially from these statements, so they should not be considered to be predictions of future events. The company undertakes no obligation to update these forward-looking statements.

Joining me today are Larry Penn, Chief Executive Officer of Ellington Credit Company; Greg Borenstein, Portfolio Manager; and Chris Smernoff, Chief Financial Officer.

Our earnings call -- our earnings conference call presentation is available on our website, ellingtoncredit.com. Today's call will track that presentation and all statements and references to figures are qualified by the important notice and end notes at the back of the presentation.

With that, I'll turn it over to Larry.

Laurence Penn
CEO, President & Trustee

Thanks, Alaael-Deen, and good morning, everyone. We appreciate your time and

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November 20, 2025 1:26 PM EST | Source: IMPACT Silver Corp.
Vancouver, British Columbia--(Newsfile Corp. - November 20, 2025) - IMPACT Silver Corp. (TSXV: IPT) (OTCQB: ISVLF) (FSE: IKL) ("IMPACT" or the "Company") is pleased to announce further results from its underground drill program in the Juarez Zone at its Plomosas zinc (lead-silver) Mine in northern Mexico.

JUAREZ ZONE DRILLING

New drill intersections on the down dip extension of the Juarez Zone of the Plomosas Mine are as follows:

TABLE 1: JUAREZ ZONE DRILL RESULTS - PLOMOSAS MINEHole No.From
(metres)To
(metres)Interval
(metres)Estimated True Width (metres)Zinc (%)Lead
(%)Silver
(g/t)ZnEq*
(%)UGMJ-254672.0072.700.700.5517.950.659.9018.76UGMJ-254774.5179.004.493.0713.092.6314.1615.14Including76.8579.002.151.4722.083.2718.9524.69Including76.8578.001.150.7928.104.1422.3031.33UGMJ-254875.6085.459.856.401.574.549.584.41Including75.6078.152.551.663.639.9116.259.62Including77.1078.151.050.686.2619.2525.9017.62Including84.0885.451.370.893.9013.7519.8012.08UGMJ-254984.3087.202.901.650.606.735.994.43Including84.3085.701.400.790.0112.256.406.77UGMJ-255094.75100.055.302.982.539.6610.088.10Including94.7595.200.450.2520.109.6251.9027.61Including98.50100.051.550.872.7130.1017.5019.40UGMJ-255190.3592.352.000.910.018.414.684.66Including91.8592.350.500.230.0126.105.8014.04UGMJ-2552111.65111.970.320.169.094.2439.5013.18 
*Zinc Equivalent (ZnEq) is calculated using recent metal prices of US$1.47/lb Zn, US$0.92/lb Pb and US$50.44/oz Ag, and metal recoveries of 90.5% Zn, 76.5% Pb, and 85.0% Ag based on recent Plomosas production mill recoveries. Metal equivalence values allow for easier comparison of mineral zones with multiple metals reporting.

True width estimates are interpreted from current geological models. The Juarez Zone lies stratigraphically below the Mina Vieja (Tres Amigos Mine) horizon at the Plomosas Mine and has a separate access adit (see Figures 2 & 3). All these Juarez Zone drill intersections lie outside the JORC mineral resource blocks published by the previous operator (see IMPACT news release dated April 3, 2023 for details). Juarez Zone mineralization remains open for exploration.

CEO STATEMENT

President and CEO Frederick Davidson commented, "We are pleased with these new high-grade drill intersections on extensions of the Juarez Zone adding mineralization for ongoing mining. The location of these intersections on extensions of our underground mining infrastructure allows us to readily expand our mining operations into these areas. We now have two drills testing extensions of near mine targets and have begun to carry out exploration drilling on other targets along the under-explored six kilometre CRD trend."

PLOMOSAS MINE GEOLOGY AND MINERALIZATION

The Plomosas mine, a historic high-grade zinc producer in northern Mexico (Figure 1), was acquired in 2023 by the Company. Recent drill programs have been undertaken on extensions of active mine areas in the Tres Amigos Zone, the Juarez Zone and Santo Domingo Zone (see Figure 2). Mineralization at the Plomosas mine occurs as zinc-rich Carbonate Replacement zones in three bedrock units - the Mina Vieja marble (Tres Amigos Zone), the Juarez limestone (Juarez Zone) and in carbonate layers within the Cuesta Shale (Santo Domingo Zone) - where structural ground preparation along these units accommodated concentrations of zinc, lead, and silver (see Figure 3).

ABOUT IMPACT SILVER

IMPACT Silver Corp. (TSXV: IPT) is a successful producer-explorer with two mining projects in Mexico.

Royal Mines of Zacualpan Silver-Gold District: IMPACT owns 100% of the 211 km2 Zacualpan project in central Mexico where four producing underground silver mines and one open pit mine feed the central 500 tpd Guadalupe processing plant. To the south, the Capire Project includes a 200 tpd processing pilot plant adjacent to an open pit silver mine with an NI 43-101 inferred mineral resource of over 4.5 million oz silver, 48 million lbs zinc and 21 million lbs lead (see IMPACT news release dated January 18, 2016, for details and QP statement). Company engineers are reviewing Capire for a potential restart of operations to leverage improving commodity prices. Over the past 19 years, IMPACT has developed multiple exploration zones into commercial production and has produced over 13.5 million ounces of silver, generating revenue of more than $298 million, with no long-term debt.Plomosas Zinc-Lead-Silver District: Plomosas is a high-grade zinc producer in northern Mexico with exceptional exploration upside potential. In late 2023, the Company restarted mining operations and ramped up production toward design capacity levels. Exploration potential at Plomosas is exceptional along the 6 km-long structure. This is in addition to other exploration targets on the 3,019-hectare property including untested copper-gold targets with indications of high-grade material at surface. Regionally, Plomosas lies in the same belt as some of the largest carbonate replacement deposits in the world (see Figure 1).Quality Control/Quality Assurance

Drill core was NTW size (5.71 cm diameter). Half core samples were collected with a rock saw and tagged for identification. All samples were securely stored at the Plomosas Mine until shipment. A total of 5% certified assay standards and 5% blanks were inserted into every sample shipment as a quality control measure. All samples were shipped to the ALS preparation laboratory in Chihuahua, Mexico, where they were fine crushed (70% passing a 2 mm screen), pulverized (85% passing a 75 micron screen) and pulp split separated for assay. These pulps were shipped to the ALS laboratory in North Vancouver, Canada, where a 10 gram split was aqua regia digested and then analyzed for 36 elements including zinc, lead and silver by ICP-AES spectrometry (ALS code ME-ICP41). Assays for base metals >1% used an overlimit ICP-AES method (ALS code OG46). ALS is an independent, international ISO/IEC 17025 accredited laboratory.

Qualified Person and NI 43-101 Disclosure

Silvia Kohler, P.Geo., a Senior Geologist employed by IMPACT Silver Corp. and a "Qualified Person" within the meaning of NI-43101, has approved the technical information contained in this news release.

Additional information about IMPACT and its operations can be found on the Company website at www.IMPACTSilver.com. Follow us on X (formerly Twitter) @IMPACT_Silver and LinkedIn at https://www.linkedin.com/company/impactsilver

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking and Cautionary Statements

This IMPACT News Release may contain certain "forward-looking" statements and information relating to IMPACT that is based on the beliefs of IMPACT management, as well as assumptions made by and information currently available to IMPACT management. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements include, but are not limited to, statements regarding interpretation of drill results, activity at the projects and estimated timing thereof, the potential for defining and extending the known mineralization, exploration potential on the properties, and plans for drilling and future operations at the Company's projects or plans for financing.

Such forward-looking information involves known and unknown risks and assumptions, including with respect to, without limitation, exploration and development risks, expenditure and financing requirements, title matters, operating hazards, extreme weather events, criminal activity, metal prices, political and economic factors, community relations, competitive factors, general economic conditions, relationships with vendors and strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices, pandemics and one-time events. Should any one or more risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein. IMPACT does not assume the obligation to update any forward-looking statement or beliefs, opinions, projections or other factors, except as required by law.

The Company's decision to place a mine into production, expand a mine, make other production related decisions or otherwise carry out mining and processing operations, is largely based on internal non-public Company data and reports based on exploration, development and mining work by the Company's geologists and engineers. The results of this work are evident in the discovery and building of multiple mines for the Company at Zacualpan and in the track record of mineral production and financial returns of the Company since 2006. Under NI 43-101, the Company is required to disclose that it has not based its production decisions on NI 43-101 mineral resources or reserve estimates, preliminary economic assessments or feasibility studies, and historically such projects have increased uncertainty and risk of failure.

303-543 Granville Street Telephone
604 664-7707
Vancouver, BC, Canada V6C 1X8
www.impactsilver.com
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Figure 3: Schematic cross section of the Juarez Mine geology and mineralization showing new intersections on the Juarez Zone.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4729/275349_452c155ca441e924_003full.jpg

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/275349

As more major retailers post earnings, one theme is clear — value players are winning both the wealthy and the cash-strapped.

Walmart and T.J. Maxx's parent company TJX stood apart from the pack this week by hiking their full-year forecasts and expressing optimism about the start of the holiday season. Both said sales have grown as they win shoppers across the income spectrum, on the same week other major U.S. retailers Home Depot, Lowe's and Target cut their profit outlooks and said they saw reluctance to make large purchases.

In an interview with CNBC, Walmart Chief Financial Officer John David Rainey said the big-box retailer has seen "value-seeking and choiceful" spending patterns by consumers for the past several quarters. He said "it stands to reason, if there's a little incremental strain on the consumer, they're only going to become more so, they're going to look for more value."

And TJX Ernie Herrman said the company, which includes Marshalls and Home Goods, has seen a "strong start" to the holiday quarter and is "convinced that consumers will continue to seek out value."

Shares of both Walmart and TJX rose on Thursday, even as the three major U.S. stock indexes turned negative.

The performance of the two retailers, which are both strongly associated with compelling deals, jumps out at a moment when investors, industry watchers and economists are trying to predict retail sales during the critical holiday season and the outlook of the U.S. economy for next year. Their performance could bode well for other off-price chains, such as Ross and Burlington, and value-focused players, including Dollar General, Dollar Tree, Five Below and Costco, which will report their most recent earnings in the coming weeks.

In recent months, a mix of factors have made it difficult to gauge how retailers and the broader economy will fare in the months ahead. Those include jitters about the job market following major layoffs at companies including Amazon, Verizon, UPS and Target and concerns that the stock market has been propped up by artificial intelligence companies, contributing to risk of a bubble. A prolonged government shutdown also muddied the waters by delaying the release of recent jobs and inflation data.

There have also been contradictions between what consumers say and do. Consumer sentiment has tumbled to nearly the lowest level ever, even as retail sales grew stronger in October, according to the CNBC/NRF Retail Monitor.

That's led to murky holiday expectations. For example, the National Retail Federation predicted that holiday sales will grow by 3.7% to 4.2% year over year and top $1 trillion for the first time, while consulting firm PwC said consumers plan to cut their holiday spending average by 5% compared to the year-ago holiday season.

watch now

Home Depot, Lowe's and Target put their thumbs on the scale this week. All three lowered their full-year profit forecasts and spoke of pressure on their businesses as customers hesitate to take on bigger projects or make pricier purchases.

For Home Depot and Lowe's, the lack of consumer confidence may prolong a period of conservative spending driven by lower housing turnover. For more than two years, they have seen customers take on smaller home improvement projects rather than splurges like remodels and renovations that cost more or require financing. That pattern has held, even though they cater to U.S. consumers who typically own a home and have benefitted from home equity gains.

Lowe's CEO Marvin Ellison said even homeowners are "not immune" to feeling shaken by news headlines about the government shutdown, higher tariffs and other policy changes that could hit their wallets — which could encourage price-sensitivity and procrastination on purchases. He said the home improvement retailer has focused on ways it can move the needle with its own strategies, such as expanding its merchandise assortment and attracting more home professionals as customers.

Target, which has faced some struggles of its own making, expects shoppers will watch prices and make tradeoffs during the holiday season, such as spending more on gifts and less in other areas like decor or food, Chief Commercial Officer Rick Gomez said on a call with reporters. It's cut prices on 3,000 food and home essentials and tried to attract shoppers with low opening price points, such as $1 Christmas tree ornaments.

At Walmart, Rainey told CNBC the company has "been gaining [market] share among all income cohorts, but as we noted for several quarters, they're more pronounced in the upper-income segment."

For TJX, Herrman said the company's focus on value is a competitive edge. He said on the company's earnings call that it's blend of "brand, fashion, quality and price sets us apart from many other retailers and has served us extremely well through many kinds of retail and economic environments over the course of our nearly 50-year history."

In a research note, retail analyst and Telsey Advisory Group CEO Dana Telsey said TJX's repeated earnings beats "highlight the strength of its value-focused proposition, which continues to resonate with consumers amid an increasingly price-sensitive environment."

Customers of all incomes are coming to TJX's stores and website, but lower-income shoppers drove sales growth in most of its geographies in its most recent quarter, CFO John Klinger said on an earnings call.

While Walmart and TJX have weathered cracks in the economy better than many other retailers, they're not immune to economic weakness.

Walmart's Rainey said despite its strong sales forecast for the year, the retailer has spotted "pockets of moderation" among low-income shoppers as they feel more pinched than other customers. On the company's earnings call on Thursday, he referred to the sharp disparity in wage growth between high- and low-income U.S. consumers.

He also told CNBC that the retailer noticed a pullback by customers who stopped receiving Supplemental Nutrition Assistance Program, or SNAP, benefits, during the government shutdown. But he said, "that's starting to rebound now that people are receiving those funds again."

"We're seeing the same things that that others are, and we're keeping a watchful eye on it," he said on the company's earnings call. "But again, I think Walmart is better insulated than just about anybody."

ATYR Investors with Losses Encouraged to Contact Hagens Berman
November 20, 2025 1:27 PM EST | Source: Hagens Berman Sobol Shapiro LLP
San Francisco, California--(Newsfile Corp. - November 20, 2025) - The financial and legal pressures on aTyr Pharma, Inc. (NASDAQ: ATYR) intensified earlier this month as the clinical-stage biotech company reported third-quarter results on Nov. 6 that missed Wall Street estimates, all while navigating high-stakes securities class action litigation.

Global plaintiffs' rights firm Hagens Berman has been investigating the alleged claims. The firm urges investors in aTyr who suffered significant losses to submit your losses now.

Investors may also read more about the investigation here: The Stakes of Clinical Trials: Why Pharma Companies Must Be Accurate and How it Relates to the aTyr Investigation.

Expanded Class Period: Nov. 7, 2024 - Sep. 12, 2025
Lead Plaintiff Deadline: Dec. 8, 2025
Visit: www.hbsslaw.com/investor-fraud/atyr
Contact the Firm Now: [email protected]
844-916-0895

Financial Miss Adds to Pressure

aTyr posted a GAAP EPS loss of -$0.26 for the third quarter, reportedly missing analyst consensus estimates by $0.08, according to media outlets. Revenues came in at $190,000, highlighting the firm's reliance on its clinical pipeline rather than commercial sales.

In their post-earnings commentary, management attempted to project a path forward. The company confirmed that despite the disappointing topline results from the Phase 3 EFZO-FIT study, "we plan to meet with the U.S. Food and Drug Administration (FDA) in the first quarter of 2026 to review the results of the study and determine the path forward for efzofitimod in pulmonary sarcoidosis."

However, any regulatory strategy to salvage Efzofitimod is unfolding under the shadow of mounting legal issues.

aTyr Pharma, Inc. (AYTR) Securities Litigation

The financial and clinical challenges are now intertwined with securities class action litigation, which alleges that aTyr and its executives provided materially false and misleading information about Efzofitimod's efficacy to investors.

The litigation stems from the company's September 15, 2025 disclosures, when aTyr announced that the EFZO-FIT study did not meet its primary endpoint-the change from baseline in mean daily oral corticosteroid (OCS) dose. This news triggered a swift and brutal market reaction, with the stock plummeting over 83% in a single day, from $6.03 per share to $1.02.

Crucially, a new class action has significantly enlarged the alleged Class Period, now covering investors who acquired shares between November 7, 2024, and September 12, 2025, inclusive. The litigation alleges that the company's positive statements during this period concerning the drug's ability to help patients taper off steroids masked underlying deficiencies in the drug's performance or the trial's design.

Hagens Berman's Investigation

Prominent shareholder rights firm Hagens Berman is investigating whether aTyr may have misled investors about its data and trial design while emphasizing Efzofitimod's multi-billion-dollar market opportunity. "The suit alleges that aTyr was concealing material adverse facts concerning Efzofitimod's capability to allow a patient to completely taper their steroid usage, a key measure of efficacy, while making optimistic pronouncements about the drug," said Reed Kathrein, the Hagens Berman partner leading the firm's investigation.

If you invested in aTyr 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 aTyr case and our investigation, read more »

Whistleblowers: Persons with non-public information regarding aTyr 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 [email protected].

# # #

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.

Contact:
Reed Kathrein, 844-916-0895

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/275348

INSP Investors with Losses Encouraged to Contact Hagens Berman
November 20, 2025 1:28 PM EST | Source: Hagens Berman Sobol Shapiro LLP
San Francisco, California--(Newsfile Corp. - November 20, 2025) - Inspire Medical Systems, Inc. (NYSE: INSP) is now grappling with a proposed class-action lawsuit alleging the company misled investors about the commercial readiness and demand for its critical "next generation" sleep apnea device, the Inspire V. The litigation zeroes in on the disparity between the company's confident assurances and the subsequent disastrous rollout that led to a dramatic stock crash.

Prominent investor rights law firm Hagens Berman is investigating the alleged claims. The firm urges investors in Inspire who suffered significant losses to submit your losses now.

Class Period: Aug. 6, 2024 - Aug. 4, 2025
Lead Plaintiff Deadline: Jan. 5, 2026
Visit: www.hbsslaw.com/investor-fraud/insp
Contact the Firm Now: [email protected]
844-916-0895

Inspire Medical Systems, Inc. (INSP) Securities Class Action:

The case, styled City of Pontiac Reestablished General Employees' Retirement System v. Inspire Medical Systems, Inc., et al., No. 0:25-cv-04247-PJS-ECW (D. Minn.), seeks to represent investors who purchased or otherwise acquired Inspire common stock between August 6, 2024 and August 4, 2025.

The complaint asserts that throughout the Class Period, Inspire repeatedly assured investors it had met all regulatory, technical, and commercial prerequisites for the Inspire V launch, while also touting high demand and a successful commercial proceeding.

However, the lawsuit claims the reality was starkly different and undisclosed to investors. The complaint alleges the Inspire V launch was, in fact, a disaster, crippled by minimal initial demand. This weak uptake, according to the suit, was due to the company's customers already being flush with inventory of older, unsold Inspire IV devices. Furthermore, the complaint suggests Inspire had allegedly neglected basic steps necessary to ensure the new device's swift adoption by clinicians and payors.

Investors allegedly learned the truth on August 4, 2025. That day, Inspire revealed that the Inspire V launch faced an "elongated timeframe" due to previously undisclosed headwinds.

Inspire explained that "many centers did not complete the training, contracting and onboarding criteria required prior to the purchase and implant of Inspire V."

The company also said that, although Inspire V's CPT code was approved for Medicare patients, "software updates for claims submissions and processing did not take effect until July 1." This meant that implanting centers could not bill for those procedures until July 1 and, as a result, many centers opted to continue treating patients with the older generation Inspire IV.

Inspire further explained that demand for Inspire V was plagued by customers' need to "burn down" Inspire IV inventory, a headwind that would continue to negatively impact demand for Inspire V.

Lastly, as a result the disastrous launch, Inspire slashed its 2025 earnings guidance by a whopping 80% to just $0.40 to $0.50 per share.

The news sent Inspire shares crashing $42.04 the next day, a decline of roughly 32%.

"We're focused on investors' losses and whether Inspire may have intentionally misled investors about headwinds adversely affecting the next generation launch and the dramatic negative effect on the company's earnings potential," said Reed Kathrein, the Hagens Berman partner leading the firm's investigation.

If you invested in Inspire 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 Inspire case and our investigation, read more »

Whistleblowers: Persons with non-public information regarding Inspire 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 [email protected].

# # #

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.

Contact:
Reed Kathrein, 844-916-0895

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/275337