Credit: Kenishirotie/Adobe Stock US Bankruptcy Filings Rise 16.2% as Interest Rates, Inflation, End of COVID Relief Hit Hard
"Two of the biggest factors—inflation and rising interest rates—are unlikely to shift rapidly, even if the new administration tries to address them," said Scott A. Underwood, a founding partner at Underwood Murray.
November 07, 2024 at 06:38 PM
3 minute read
Bankruptcy
The original version of this story was published on Daily Business Review
Personal and business bankruptcy filings rose 16.2% in the 12-month period that ended Sept. 30, compared with the previous year, the Administrative Office of the U.S. Courts stated Thursday.
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Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
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Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
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