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Top related persons:
Jonathan Ernst - 1 Canoo - 1 Ulrich Kranz - 1 Paul Balciunas - 1 Kranz - 1 Balciunas - 1 Daniel Wachtell - 1 Nikola - 1
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3 mentions found


☆ US fines Canoo $1.5 mln over revenue projection reporting
  + stars: | 2023-08-04 | by ( Jody Godoy | Thomson Reuters | Jody Godoy Reports On Banking | ) www.reuters.com   time to read: +3 min
REUTERS/Jonathan Ernst/File PhotoCompanies Canoo Inc FollowNikola Corp FollowAug 4 (Reuters) - The U.S. Securities and Exchange Commission fined electric vehicle company Canoo Inc $1.5 million on Friday for what the regulator alleges were reporting failures related to hundreds of millions of dollars of unreasonable revenue projections. In the run-up to the deal, Canoo (GOEV.O) had projected revenue of $120 million in 2021 and $250 million in 2022 based on deals to provide engineering services to other companies. In March 2021, the carmaker's stock tumbled 21% after it announced it would not achieve the anticipated revenue, the SEC said in court papers. The SEC said Kranz and Balciunas knew before the merger that the projects were unlikely to generate revenue. Canoo said in May it had tentatively agreed to pay a $1.5 million penalty to settle with the SEC.
Persons: Jonathan Ernst, Canoo, Ulrich Kranz, Paul Balciunas, Kranz, Balciunas, Daniel Wachtell, Nikola, Jody Godoy, Jonathan Oatis, Nick Macfie, Deepa Babington, David Gregorio Our Organizations: U.S . Securities, Exchange, SEC, REUTERS, Nikola, Exchange Commission, DraftKings Inc, Thomson Locations: Washington, Texas, New York
☆ Lithuanian pipeline blast blamed on rupture not attack
  + stars: | 2023-01-14 | by ( ) www.reuters.com   time to read: +1 min
[1/3] Workers inspect the aftermath of a gas pipeline explosion in Pasvalys, Lithuania January 14, 2023. REUTERS/Janis LaizansPASVALYS, Lithuania, Jan 14 (Reuters) - A rupture in an old natural gas pipe has emerged as the most likely cause of Friday's blast in the Lithuania-Latvia pipeline, the head of its operator said on Saturday. The explosion yielded flames up to 50 meters high, but there was no immediate evidence of an attack. "The initial survey showed that a welding seam simply tore open", Nemunas Biknius, head of Lithuania's gas transmission operator Amber Grid, told BNS wire. The fire emanating from the more than 40-year old pipeline was put out on Friday but a highway next to the blast site remains closed.
☆ Lithuania-Latvia gas pipeline hit by explosion, operator says
  + stars: | 2023-01-13 | by ( Andrius Sytas | ) www.reuters.com   time to read: +1 min
VILNIUS, Jan 13 (Reuters) - A gas pipeline connecting Lithuania and Latvia was hit by an explosion on Friday, Lithuania gas transmission operator Amber Grid told Reuters. Video published by Lithuania's public broadcaster LRT showed a fire raging at the blast site in the Panevezys county in northern Lithuania. "We are investigating the cause of the explosion," the Amber Grid spokesperson said. Povilas Balciunas, the head of public administration in the nearby town of Pasvalys, told Reuters the flames were still burning at 1750 GMT. Reporting by Andrius Sytas, writing by Terje Solsvik; Editing by Kirsten Donovan and David EvansOur Standards: The Thomson Reuters Trust Principles.
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