Entwistle & Cappucci LLP Files Amended Securities Class Action Complaint Against KnowBe4, Inc. and Related Defendants
NEW YORK--(BUSINESS WIRE)--Entwistle & Cappucci LLP today announced that it filed a First Amended Class Action Complaint ('Complaint') against KnowBe4, Inc. ('KnowBe4'), certain of KnowBe4's directors, KKR & Co. Inc., Elephant Partners, Vista Equity Partners Management, LLC ('Vista') and certain of their affiliates (collectively, 'Defendants') on behalf of a class ('Class') consisting of all persons or entities that: (a) sold shares of KnowBe4 common stock from October 12, 2022 through February 1, 2023, including those who sold shares into the 'take private' acquisition ('Merger') of KnowBe4 by Vista and its affiliates on February 1, 2023; and/or (b) held shares of KnowBe4 as of the December 7, 2022 record date and were entitled to vote on the Merger.
The action ('Action') seeks to recover damages on behalf of investors that were damaged as a result of allegedly false and misleading statements and omissions of material facts in the October 12, 2022 press release issued by KnowBe4 and Vista announcing the Merger, December 22, 2022 proxy statement and subsequent amendment issued by Defendants on January 18, 2023 ('Proxy'), and related filings with the U.S. Securities and Exchange Commission ('SEC'). Among other things, the Complaint alleges the Proxy and other solicitation materials misled investors regarding the true value of KnowBe4's shares, omitted that KKR increased its equity rollover into the post-Merger entity after it learned of the Merger price, and failed to disclose advantages Defendants provided to Vista over other potential bidders during the sales process leading to the Merger.
The Action was filed in the United States District Court for the Southern District of Florida and is captioned: Water Island Event-Driven Fund v. KnowBe4, Inc., No. 25-cv-22574-CMA. The Complaint asserts claims under Sections 10(b), 14(a) and 20(a) of the Exchange Act and SEC Rules 10b-5 and 14a-9 promulgated thereunder.
As indicated in a prior press release dated June 6, 2025, if you wish to serve as a lead plaintiff in this matter, you must file a motion with the Court no later than August 5, 2025. Any member of the proposed Class may move the Court to serve as a lead plaintiff through counsel of their choice, or they may choose to do nothing and remain a member of the Class.
If you wish to discuss this Action or have any questions concerning this notice or your rights or interests, please contact: Robert N. Cappucci, Esq. or Andrew M. Sher, Esq. of Entwistle & Cappucci at (212) 894-7200 or via e-mail at rcappucci@entwistle-law.com or asher@entwistle-law.com.
About Entwistle & Cappucci
Entwistle & Cappucci is a national law firm providing exceptional legal representation to clients in the most complex and challenging legal matters. Our practice encompasses all areas of litigation, corporate transactions, bankruptcy, insurance, corporate investigations and white-collar defense. Our clients include public and private corporations, major hedge funds, public pension funds, governmental entities, leading institutional investors, domestic and foreign financial services companies, emerging business enterprises and individual entrepreneurs.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
2 days ago
- Yahoo
SR BANCORP, INC. ANNOUNCES PAYMENT OF QUARTERLY CASH DIVIDEND OF $0.05 PER SHARE
BOUND BROOK, N.J., June 20, 2025 /PRNewswire/ -- SR Bancorp, Inc. (NASDAQ: SRBK), the holding company for Somerset Regal Bank, announced that its Board of Directors has declared the payment of a quarterly cash dividend. The dividend of $0.05 per share will be paid on July 15, 2025 to stockholders of record as of June 30, 2025. David Orbach, Executive Chairman of SR Bancorp, Inc said: "We are pleased to be in a strong financial position giving us the ability to pay a cash dividend." About SR Bancorp, Inc. SR Bancorp, Inc. is the holding company for Somerset Regal Bank, a full-service New Jersey commercial bank headquartered in Bound Brook, New Jersey that operates 14 branches in Essex, Hunterdon, Middlesex, Morris, Somerset and Union Counties, New Jersey. At March 31, 2025, Somerset Regal Bank had $1.07 billion in total assets, $780.8 million in net loans, $835.6 million in deposits and total equity of $195.1 million. Additional information about Somerset Regal Bank is available on its website, Forward Looking Statements Certain statements contained herein are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act") and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements, which are based on certain current assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of the words "may," "will," "should," "could," "would," "plan," "potential," "estimate," "project," "believe," "intend," "anticipate," "expect," "target" and similar expressions. Forward-looking statements are based on current beliefs and expectations of management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. Certain factors that could cause actual results to differ materially from expected results include increased competitive pressures, changes in the interest rate environment, inflation, general economic conditions or conditions within the securities markets, our ability to successfully integrate acquired operations and realize the expected level of synergies and cost savings, real estate market values in the Bank's lending area changes in the quality of our loan and security portfolios, increases in non-performing and classified loans, economic assumptions or changes in our methodology that may impact our allowance for credit losses calculation, changes in liquidity, including the size and composition of our deposit portfolio and the percentage of uninsured deposits in the portfolio, the availability of low-cost funding, monetary and fiscal policies of the U.S. Government including policies of the U.S. Treasury and the Board of Governors of the Federal Reserve System, a failure in or breach of the Company's operational or security systems or infrastructure, including cyber attacks, the failure to maintain current technologies, failure to retain or attract employees and legislative, accounting and regulatory changes that could adversely affect the business in which the Company and the Bank are engaged. Our actual future results may be materially different from the results indicated by these forward-looking statements. Except as required by applicable law or regulation, we do not undertake, and we specifically disclaim any obligation, to release publicly the results of any revisions that may be made to any forward-looking statement. View original content to download multimedia: SOURCE SR Bancorp, Inc. Sign in to access your portfolio
Yahoo
3 days ago
- Yahoo
Encrypted QR Codes are here. Should workplaces be using them?
Companies go to great lengths to protect sensitive personal and financial information. But as cybercriminals become increasingly sophisticated, scams are on the rise, putting key information at risk of being compromised. Scammers often use phishing techniques to access secure data or personal information. Cybersecurity company Egress reports that QR Code scams in emails accounted for 12.4% of all phishing emails in 2023, jumping from 1.4% just a year prior. Health care, hospitality, education, and insurance industries are most likely to be targeted with phishing schemes, according to a 2024 report from cybersecurity firm KnowBe4. While companies have long been aware of email phishing scams, QR Code "quishing" (QR Code + phishing) scams have presented a new way to manipulate and deceive. Quishing targets businesses in a few ways: Instead of taking users to legitimate websites, QR Codes direct users to fake websites that may prompt them to provide banking access or enter personal information like passwords. Fake QR Codes can also prompt users to download malware onto their devices, which can wreak havoc. Phishing is one of the most common crimes, according to the Federal Bureau of Investigation's Internet Crime Complaint Center. Phishing crimes were reported nearly 299,000 times in 2023—a 161% increase since 2019, according to a 2023 report from the Bureau. Some of those scams include the ubiquitous black-and-white squares that people have hijacked in phishing scams, prompting the Federal Trade Commission to issue a warning about the risks of QR Codes in 2023. Savvy workers might assume they're not susceptible to scams, but those geometric codes, difficult to distinguish from one another, may appear more benign than a sketchy URL. "They want you to scan the QR Code and open the URL without thinking about it," Alvaro Puig, a consumer education specialist for the FTC, said in a statement. Quishing scams often leverage brand names or familiar emails to dupe busy employees. A common scam is phishing emails that impersonate Docusign. Bad actors ask people to access funds from a "funds settlement agreement" by scanning a QR Code, which points them to a fake Docusign website where they can fork over their sign-in credentials. Other common Quishing attempts include Zoom meeting invitations and HR reminders for policy reviews, according to KnowBe4. The company's research found that globally, nearly 49% of clicks on phishing links in the third quarter of 2024 purported to be emails about HR or IT matters. Consumers may be familiar with public-facing scams, such as fraudsters tricking people into sharing payment information on fraudulent websites using fake QR Codes stickered onto parking meters. Fraud investigations into fake QR Codes have been underway across the nation, with cities like Austin, Houston, and San Antonio in Texas, as well as Newtown, Massachusetts, for instance. Meanwhile, however, businesses may face a different kind of threat from within if employees aren't aware of the risks of QR Codes or if hackers infiltrate systems to access information protected by QR Codes that lack extra security. As workplaces grapple with new security threats, businesses may seek extra protective measures. Uniqode examined industry reports and news coverage to find out how new technologies like encrypted QR Codes and ink authentication can help protect workplaces from scams. Companies can protect themselves by using encrypted QR Codes to secure their links further. There are varying levels of encryption, but they generally utilize a secret decryption key that allows the scanner, typically a phone, to read the QR Code before moving forward. For example, Google experimented in 2012 with encrypted QR Codes that allowed people to log into their email from a public computer. Users could scan the QR Code on their smartphone with the approved credentials; once this decryption passed, the email on the public computer would automatically log in. QR Codes can also be password protected, requiring a code to open the link and proceed. Dynamic QR Codes allow users to add passwords that can be changed later, whereas static QR Codes, once created, stay the same. Encrypted QR Codes can be helpful in settings where the shared information requires confidentiality or added security, such as health care records, event tickets, and legal documentation. Encryption helps protect the data stored inside a QR Code so only authorized users can access it. Businesses can use encrypted information to protect confidential consumer information during a breach and as an extra safeguard against extortion. An extra layer of security to guard data from bad actors can also give companies greater peace of mind. Massachusetts Institute of Technology researchers pioneered Invisible ink authentication, an advanced security measure designed to hide QR Codes in plain sight, such as on documents, to prevent counterfeiting. Invisible QR Codes have fluorescence—so they cannot be seen by the naked eye or detected by a camera lens. Only users aware of the fluorescence can utilize a specialized filter to detect and scan the code, accessing key information securely. Another advancement is algorithm-driven anti-copy technology, which adds a layer of security to QR Codes by preventing counterfeiters from passing off knock-offs as the real thing. Unlike regular QR Codes, which can be copied or modified to point users to a fake website, anti-copy security QR Codes have a subtle watermark and use an algorithm for authentication that makes them extremely hard to fake. They're particularly useful when used in pairs for shipping a product, where the top QR Code can be used multiple times along the shipping route, but the bottom QR Code can only be used once—authenticating the product. Old-school, street-smart techniques should not be underestimated in their capacity to protect people from quishing scams. "The good news is that the way to [be] safe from this malicious activity is to use the steps we have already learned from phishing and other social engineering attacks, such as only scanning codes from trusted sources, verifying links are legitimate and looking out for other red flags," Garrett McManaway, chief information security officer of Wayne State University, wrote in a blog post. Duke University security guidelines recommend only using native QR Code scanners, checking the URL to see if the code sends the user to the anticipated website, and other website details that signal authenticity, such as a matching logo and color scheme. Another hallmark of a quishing scam is a false sense of urgency—attempts to push victims to act quickly without thinking, such as contacting someone immediately to deliver a package or log in to an account due to alleged suspicious activity. People can protect themselves by being wary. Take a moment to think before scanning, avoid short URLs, and, if it seems fishy, there's a good chance it is phishy. Story editing by Alizah Salario. Additional editing by Elisa Huang. Copy editing by Kristen Wegrzyn. Photo selection by Lacy Kerrick. This story was produced by Uniqode (Beaconstac) and was produced and distributed in partnership with Stacker.
Yahoo
3 days ago
- Yahoo
Vista Unveils Ultra-High-Net-Worth Travel Trends: Singapore Ascends as Southeast Asia's Premier Destination
Vista Unveils Ultra-High-Net-Worth Travel Trends: Singapore Ascends as Southeast Asia's Premier Destination Vista Unveils Ultra-High-Net-Worth Travel Trends: Singapore Ascends as Southeast Asia's Premier DestinationPress images available for download here. Singapore, Thursday 19 June 2025 – Vista, the world's leading private aviation group and parent company of VistaJet and XO, hosted a panel discussion on Ultra-High-Net-Worth Trends in Singapore, bringing together influential voices from across its partner network within the city's luxury ecosystem. The invitation-only event explored the evolving trends of luxury among Southeast Asia's ultra-high-net-worth-individuals (UHNWIs) whose lifestyle choices are increasingly driven by meaning, mobility, and long-term value. Held against the backdrop of rising demand for premium experiences and increased regional UHNWI mobility, the panel featured insights from: Amy Yang, Vice President, Marketing – APAC & IMEA, Vista Christine Li, Head of Research Asia Pacific, Knight Frank Ewa Stachurska, Chief Marketing & Sustainability Officer, Sanlorenzo Asia Pacific The speakers examined the burgeoning demand for private aviation, luxury real estate, and superyachts which highlight Singapore's status as a premier destination and how brands are responding to the rising desire for privacy and personalization. Vista's Amy Yang shared, 'With the rising trend of bleisure travel — where business and leisure are seamlessly intertwined — Singapore has consistently ranked among the top destinations for Vista's clientele. Its unique blend of Asian cultures and its status as an international business hub make it an ideal gateway for today's global travelers. At a time where excellence standards and consistency are paramount — whether flying long-haul between Asia and the United States aboard the industry-leading Global 7500 or regionally within Europe or the Middle East on the popular super-mid-size fleet — Vista is uniquely positioned to meet this growing demand with a global infrastructure that spans 96% of the world.' In 2024, VistaJet further saw a 10% growth in its Memberships in Southeast Asia, whereas XO — Vista's instantaneous and real-time priced private jet marketplace — saw doubled flight traffic year-on-year growth in Singapore. Knight Frank's Christine Li reveals: "According to The Wealth Report 2025, Asia Pacific is predicted to account for 47.5% of the global UHNW population created between 2025-2028. The inaugural Family Office survey displays an increasing trend to view prime real estate as an attractive combination of steady income generation and capital growth potential. Confidence in Singapore's prime assets are underscored by the significant UHNWI commercial property transactions for 2024/2025 — notably US$520 million for the 21 Collyer Quay office building and US$43 million for River Valley Apartments enbloc. This blend of strategic diversification, expectations for long-term asset appreciation, and sustained high-value investment activity, solidifies Singapore's position as a premier destination for sophisticated capital.' Sanlorenzo Asia Pacific's Ewa Stachurska adds: 'Singapore is emerging as a premier yachting hub with 8 boat clubs and marinas and 4000 boats and yachts stationed in the city. Coupled with Southeast Asia's extensive coastlines that are easily accessible by yachts with adequate range and storage capacity, this creates a unique environment for the rising demand of highly customized superyachts. This trend reflects a broader shift towards exceptional purchases that offer not only immediate enjoyment but also generational significance, and purpose underscoring the evolving aspirations of Asia's affluent clientele. Sanlorenzo Asia Pacific prioritizes intimate activations and experiences with like-minded yacht owners at the Sanlorenzo Elite community, ensuring the holistic customer journey is complete in discreet elegance and effortless style.' Singapore: Rising Capital of Premier Experiences With its concentration of wealth, political stability and service excellence, Singapore is emerging as Southeast Asia's main hub for luxury experiences and financial conferences. This is evidenced by the three-digit growth figures in Vista's flight traffic during key event periods. In comparison with the daily average of flight traffic in Singapore across 2024, a tremendous 362% increase was seen during the Taylor Swift Eras tour in Singapore due to the fact that this was the singer's sole stop in Southeast Asia for her global concert. The Singapore Grand Prix also instigated a 168% surge in daily average flight traffic while it coincided with other major financial events in the city, such as The Milken Institute Asia Summit and Global Trade Review Congress and more. On the other hand, the Singapore Yachting Festival supported a 46% higher business jet traffic as compared to the daily average for the year. Southeast Asia's Emerging Luxury Destinations While Singapore remains the anchor of Southeast Asia's luxury ecosystem, Vista shared the hidden gems amongst its exclusive flight destinations in 2024, locations that fuse nature, culture and exclusivity. Kuching, Malaysia — the international gateway to Borneo attracts luxury eco-tourists keen to explore the island's ancient rainforests and orangutan sanctuaries. Da Nang, Vietnam — a coastal city gaining traction for its resort offerings, vibrant culinary scene and proximity to UNESCO sites. Sorong, Indonesia — the preferred entry point to Raja Ampat, offering access to one of the world's most pristine and remote marine reserves. Meanwhile, established favourites such as the Maldives, Phuket and Bali continue to see robust traffic, with Phuket in particular benefitting from global pop culture visibility, most notably through HBO's The White Lotus, which set its third season in Thailand. According to Knight Frank, Manila has emerged as the world's fastest-growing market for prime residential prices in 2024. In Malaysia, government incentives have further strengthened the residential property sector, making it an attractive option for those seeking both personal homes and long-term value appreciation. Meanwhile, foreign buyers continue to shape Bangkok's prime real estate landscape, with Chinese investors at the forefront of this growing demand. Based on the findings from Sanlorenzo Asia Pacific, the superyacht market in Singapore and Southeast Asia is experiencing dynamic growth, driven by a rapidly expanding population of ultra-high-net-worth individuals who increasingly seek passion assets that combine lifestyle, legacy, and long-term value. Unlike traditional markets, wealth in the region is largely newly created and is now being passed on to a younger generation that prioritizes experiential discreet luxury and family-oriented investments. Aligned with trends in yachting and luxury real estate, private and exclusive travel experiences are increasingly sought after by Vista Members. With access to the most prestigious establishments through its global network of over 600 partners across 35 categories — from private island villas to yachting services, fine art to automobiles — Vista's Private World offers bespoke journeys and itineraries tailored to each client's passions. At Vista, meeting the demands of UHNWIs extends far beyond the cabin — it encompasses every aspect of in Member's life, before they step onboard, and long after they land. – ENDS – InformationVista | press@ About Vista Vista Global Holding's (Vista) subsidiaries provide worldwide business flight services. A global group headquartered at the DIFC in Dubai, Vista integrates a unique portfolio of companies offering asset free services to cover all key aspects of business aviation: guaranteed and on demand global flight coverage; subscription and membership solutions; trading and management services; and cutting-edge mobility technology. Innovating the industry for 20 years through continuous investment in people, technology and infrastructure, the Group's mission is to lead the change to provide clients with the most advanced flying services at the very best value, anytime, anywhere around the world. Vista's knowledge and understanding of all facets of the industry deliver the best end-to-end offering and technology to all business aviation clients, through its VistaJet and XO branded services and duly licensed carriers. Vista is not a direct air carrier and does not operate or charter flights. More Vista information and news at About VistaJetVistaJet is the first and only global business aviation company, leading the industry by setting higher standards of service and safety for over 20 years. On its fleet of silver and red business jets, VistaJet has flown corporations, governments and private clients to 207 countries and territories, covering 96% of the world. Founded in 2004, the company pioneered an innovative business model where customers have access to an entire fleet whilst paying only for the hours they fly, free of the responsibilities and asset risks linked to aircraft ownership. VistaJet's signature Program membership offers clients a bespoke subscription of flight hours with guaranteed access to the Vista Members' fleet of over 300 aircraft around the world, to fly them anytime, anywhere. VistaJet is part of Vista — the world's first private aviation ecosystem, integrating a unique portfolio of companies offering asset free solutions to cover all key aspects of business aviation. More VistaJet information and news at About XOXO is revolutionizing the private aviation industry by combining data intelligence with distinct service, allowing clients to book a flight in seconds to anywhere in the world. Built on 20 years of innovation and skill, XO is the world's premier aviation network. XO has created an open future for private aviation with more transparency, efficiency and accessibility than ever before. Members and clients have access to over 2,400 aircraft around the world, including the Vista Members' fleet, covering the full spectrum of cabin classes. Flyers can book an entire aircraft or individual seats through the XO mobile app, website or an XO Aviation Advisor. XO is part of Vista — the world's first private aviation ecosystem, integrating a unique portfolio of companies offering asset free solutions to cover all key aspects of business aviation. More XO information and news at Attachments 20250619_FINAL_VISTA_PR_SGPANEL Vista Unveils Ultra-High-Net-Worth Travel Trends: Singapore Ascends as Southeast Asia's Premier DestinationSign in to access your portfolio
