Meta launches a new tool to combat scams and restore locked accountsNextNav Inc. ( NASDAQ:NN – Get Free Report ) shares rose 6.7% during mid-day trading on Thursday . The stock traded as high as $16.01 and last traded at $15.92. Approximately 119,245 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 896,740 shares. The stock had previously closed at $14.92. Analyst Upgrades and Downgrades Separately, B. Riley increased their target price on NextNav from $12.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. View Our Latest Research Report on NextNav NextNav Stock Up 0.4 % Insider Activity at NextNav In other NextNav news, SVP Arun Raghupathy sold 3,332 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $18.32, for a total transaction of $61,042.24. Following the transaction, the senior vice president now directly owns 1,087,019 shares in the company, valued at approximately $19,914,188.08. This represents a 0.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink . Also, CEO Mariam Sorond sold 200,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $16.40, for a total transaction of $3,280,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,574,117 shares in the company, valued at $25,815,518.80. This trade represents a 11.27 % decrease in their position. The disclosure for this sale can be found here . Insiders sold a total of 209,367 shares of company stock valued at $3,442,705 over the last quarter. Corporate insiders own 15.70% of the company’s stock. Institutional Trading of NextNav Several institutional investors and hedge funds have recently made changes to their positions in the business. Wolf Hill Capital Management LP increased its stake in shares of NextNav by 14.6% in the 2nd quarter. Wolf Hill Capital Management LP now owns 2,123,062 shares of the company’s stock valued at $17,218,000 after acquiring an additional 269,754 shares during the last quarter. Empyrean Capital Partners LP grew its holdings in NextNav by 56.6% during the second quarter. Empyrean Capital Partners LP now owns 660,845 shares of the company’s stock valued at $5,359,000 after purchasing an additional 238,845 shares during the period. DigitalBridge Group Inc. bought a new stake in NextNav in the second quarter valued at approximately $1,741,000. Marshall Wace LLP acquired a new stake in NextNav in the second quarter worth $1,571,000. Finally, Geode Capital Management LLC boosted its position in shares of NextNav by 10.3% during the third quarter. Geode Capital Management LLC now owns 1,691,508 shares of the company’s stock worth $12,672,000 after purchasing an additional 158,455 shares in the last quarter. Institutional investors own 79.16% of the company’s stock. NextNav Company Profile ( Get Free Report ) NextNav Inc provides next generation positioning, navigation, and timing (PNT) solutions in the United States. It offers Pinnacle, a dedicated vertical positioning network to cover entire metropolitan areas including devices equipped with a barometric pressure sensor with the highest quality wide-area altitude service. Featured Articles Receive News & Ratings for NextNav Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NextNav and related companies with MarketBeat.com's FREE daily email newsletter .Franklin Resources Inc. Has $1.60 Million Position in Newmark Group, Inc. (NASDAQ:NMRK)
Structure Therapeutics Inc. ( NASDAQ:GPCR – Get Free Report )’s share price was up 5.6% during mid-day trading on Thursday . The stock traded as high as $29.87 and last traded at $29.84. Approximately 85,014 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 797,037 shares. The stock had previously closed at $28.25. Wall Street Analysts Forecast Growth Several equities analysts recently commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $65.00 price target on shares of Structure Therapeutics in a report on Monday, September 23rd. Morgan Stanley assumed coverage on shares of Structure Therapeutics in a report on Monday, September 23rd. They set an “overweight” rating and a $118.00 price objective for the company. JMP Securities restated a “market outperform” rating and issued a $91.00 target price on shares of Structure Therapeutics in a research note on Wednesday, December 18th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $80.00 price target on shares of Structure Therapeutics in a research note on Thursday, December 19th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $86.50. Check Out Our Latest Research Report on GPCR Structure Therapeutics Stock Down 1.7 % Institutional Investors Weigh In On Structure Therapeutics A number of hedge funds have recently made changes to their positions in GPCR. Point72 Asset Management L.P. raised its holdings in Structure Therapeutics by 196.5% in the third quarter. Point72 Asset Management L.P. now owns 1,238,268 shares of the company’s stock worth $54,348,000 after purchasing an additional 820,589 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Structure Therapeutics by 18.0% in the 3rd quarter. Janus Henderson Group PLC now owns 3,956,878 shares of the company’s stock worth $173,623,000 after buying an additional 602,609 shares during the last quarter. Vestal Point Capital LP raised its stake in shares of Structure Therapeutics by 105.4% during the 3rd quarter. Vestal Point Capital LP now owns 1,150,000 shares of the company’s stock worth $50,474,000 after acquiring an additional 590,000 shares in the last quarter. First Light Asset Management LLC lifted its position in Structure Therapeutics by 296.1% during the second quarter. First Light Asset Management LLC now owns 590,647 shares of the company’s stock valued at $23,195,000 after acquiring an additional 441,534 shares during the last quarter. Finally, FMR LLC grew its holdings in Structure Therapeutics by 6.7% in the third quarter. FMR LLC now owns 6,128,444 shares of the company’s stock worth $268,977,000 after purchasing an additional 383,635 shares during the last quarter. 91.78% of the stock is currently owned by hedge funds and other institutional investors. Structure Therapeutics Company Profile ( Get Free Report ) Structure Therapeutics Inc, a clinical stage global biopharmaceutical company, develops and delivers novel oral therapeutics to treat a range of chronic diseases with unmet medical needs. The company’s lead product candidate is GSBR-1290, an oral and biased small molecule agonist of glucagon-like-peptide-1 receptor, a validated G-protein-coupled receptors (GPCRs) drug target for type-2 diabetes mellitus and obesity. Featured Articles Receive News & Ratings for Structure Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Structure Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter .
(The Center Square) – The latest federal numbers show the U.S. deficit is soaring as President Joe Biden heads out of office. The U.S. Congressional Budget Office released its monthly budget review on Monday, which showed that in the first two months of this fiscal year, the federal government has run up a deficit of $622 billion. “That amount is $242 billion more than the deficit recorded during the same period last fiscal year,” CBO said in its report . That figure means the deficit is nearly 40% higher than this time last year. “The most alarming turkey in November was the federal government’s inability to live within its means,” Maya MacGuineas, president of the Committee for a Responsible Federal Budget, said in a statement. “We are only two months into the fiscal year, and we have already borrowed a staggering $622 billion, with $365 billion in the month of November alone." Deficits never surpassed one trillion dollars before the COVID-19 pandemic. Since then, they remain well above one trillion and for this next fiscal year are well beyond the pace to surpass $1 trillion. The deficit last fiscal year was about $1.8 trillion. Billionaire Elon Musk, now an advisor to President-elect Donald Trump, lamented the debt, which is about $36 trillion, on X Monday. “If we don’t fix the deficit, everything will suffer, including essential spending like DoD, Medicare & Social Security,” Musk said. “It’s not optional.” CBO did explain that some of the increase is from accounting changes. From CBO: The change in the deficit was influenced by the timing of outlays and revenues alike. Outlays in October 2023 were reduced by shifts in the timing of certain federal payments that otherwise would have been due on October 1, 2023, which fell on a Sunday. (Those payments were made in September 2023.) Outlays in November 2024 were boosted by the shift to that month of payments due December 1, 2024, a Saturday. If not for those shifts, the deficit thus far in fiscal year 2025 would have been $541 billion, or $88 billion more than the shortfall at this point last year, and outlays would have been $38 billion more.” Get any of our free email newsletters — news headlines, sports, arts & entertainment, state legislature, CFD news, and more.Habs rook posts rare debut shutout vs. Cup champ
Hodge scores 21 as UNC Wilmington scores 85-74 win over UNC AshevilleNEW YORK , Dec. 9, 2024 /PRNewswire/ -- Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches of fiduciary duties to shareholders relating to: Altair Engineering Inc. (NASDAQ: ALTR)'s sale to Siemens for $113.00 per share in cash. If you are an Altair shareholder, click here to learn more about your legal rights and options . Mid Penn Bancorp, Inc. (NASDAQ: MPB)'s merger with William Penn Bancorporation. If you are a Mid Penn shareholder, click here to learn more about your rights and options . Avid Bioservices, Inc. (NASDAQ: CDMO)'s sale to funds managed by GHO Capital Partners LLP and Ampersand Capital Partners for $12.50 per share in cash. If you are an Avid shareholder, click here to learn more about your rights and options . AeroVironment, Inc. (NASDAQ: AVAV)'s merger with BlueHalo LLC. Per the terms of the proposed transaction, AeroVironment will issue approximately 18.5 million shares of AeroVironment common stock to BlueHalo. Upon closing of the proposed transaction, AeroVironment shareholders will own approximately 60.5% of the combined company. If you are an AeroVironment shareholder, click here to learn more about your legal rights and options . Halper Sadeh LLC may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits on behalf of shareholders. We would handle the action on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses. Shareholders are encouraged to contact the firm free of charge to discuss their legal rights and options. Please call Daniel Sadeh or Zachary Halper at (212) 763-0060 or email sadeh@halpersadeh.com or zhalper@halpersadeh.com . Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors. Attorney Advertising. Prior results do not guarantee a similar outcome. Contact Information: Halper Sadeh LLC Daniel Sadeh, Esq. Zachary Halper, Esq. (212) 763-0060 sadeh@halpersadeh.com zhalper@halpersadeh.com https://www.halpersadeh.com View original content to download multimedia: https://www.prnewswire.com/news-releases/shareholder-investigation-halper-sadeh-llc-investigates-altr-mpb-cdmo-avav-on-behalf-of-shareholders-302326334.html SOURCE Halper Sadeh LLPEDITOR'S NOTE — This story includes discussion of suicide. If you or someone you know needs help, the national suicide and crisis lifeline in the U.S. is available by calling or texting 988. Suchir Balaji, a former OpenAI engineer and whistleblower who helped train the artificial intelligence systems behind ChatGPT and later said he believed those practices violated copyright law, has died, according to his parents and San Francisco officials. He was 26. Balaji worked at OpenAI for nearly four years before quitting in August. He was well-regarded by colleagues at the San Francisco company, where a co-founder this week called him one of OpenAI's strongest contributors who was essential to developing some of its products. "We are devastated to learn of this incredibly sad news and our hearts go out to Suchir's loved ones during this difficult time," said a statement from OpenAI. Balaji was found dead in his San Francisco apartment on Nov. 26 in what police said "appeared to be a suicide. No evidence of foul play was found during the initial investigation." The city's chief medical examiner's office confirmed the manner of death to be suicide. His parents Poornima Ramarao and Balaji Ramamurthy said they are still seeking answers, describing their son as a "happy, smart and brave young man" who loved to hike and recently returned from a trip with friends. Balaji grew up in the San Francisco Bay Area and first arrived at the fledgling AI research lab for a 2018 summer internship while studying computer science at the University of California, Berkeley. He returned a few years later to work at OpenAI, where one of his first projects, called WebGPT, helped pave the way for ChatGPT. "Suchir's contributions to this project were essential, and it wouldn't have succeeded without him," said OpenAI co-founder John Schulman in a social media post memorializing Balaji. Schulman, who recruited Balaji to his team, said what made him such an exceptional engineer and scientist was his attention to detail and ability to notice subtle bugs or logical errors. "He had a knack for finding simple solutions and writing elegant code that worked," Schulman wrote. "He'd think through the details of things carefully and rigorously." Balaji later shifted to organizing the huge datasets of online writings and other media used to train GPT-4, the fourth generation of OpenAI's flagship large language model and a basis for the company's famous chatbot. It was that work that eventually caused Balaji to question the technology he helped build, especially after newspapers, novelists and others began suing OpenAI and other AI companies for copyright infringement. He first raised his concerns with The New York Times, which reported them in an October profile of Balaji . He later told The Associated Press he would "try to testify" in the strongest copyright infringement cases and considered a lawsuit brought by The New York Times last year to be the "most serious." Times lawyers named him in a Nov. 18 court filing as someone who might have "unique and relevant documents" supporting allegations of OpenAI's willful copyright infringement. His records were also sought by lawyers in a separate case brought by book authors including the comedian Sarah Silverman, according to a court filing. "It doesn't feel right to be training on people's data and then competing with them in the marketplace," Balaji told the AP in late October. "I don't think you should be able to do that. I don't think you are able to do that legally." He told the AP that he gradually grew more disillusioned with OpenAI, especially after the internal turmoil that led its board of directors to fire and then rehire CEO Sam Altman last year. Balaji said he was broadly concerned about how its commercial products were rolling out, including their propensity for spouting false information known as hallucinations. But of the "bag of issues" he was concerned about, he said he was focusing on copyright as the one it was "actually possible to do something about." He acknowledged that it was an unpopular opinion within the AI research community, which is accustomed to pulling data from the internet, but said "they will have to change and it's a matter of time." He had not been deposed and it's unclear to what extent his revelations will be admitted as evidence in any legal cases after his death. He also published a personal blog post with his opinions about the topic. Schulman, who resigned from OpenAI in August, said he and Balaji coincidentally left on the same day and celebrated with fellow colleagues that night with dinner and drinks at a San Francisco bar. Another of Balaji's mentors, co-founder and chief scientist Ilya Sutskever, had left OpenAI several months earlier, which Balaji saw as another impetus to leave. Schulman said Balaji had told him earlier this year of his plans to leave OpenAI and that Balaji didn't think that better-than-human AI known as artificial general intelligence "was right around the corner, like the rest of the company seemed to believe." The younger engineer expressed interest in getting a doctorate and exploring "some more off-the-beaten path ideas about how to build intelligence," Schulman said. Balaji's family said a memorial is being planned for later this month at the India Community Center in Milpitas, California, not far from his hometown of Cupertino. —————- The Associated Press and OpenAI have a licensing and technology agreement allowing OpenAI access to part of the AP's text archives.
A $70 billion AI data centre industrial park is being proposed for northwestern Alberta, with a well-known Canadian investor attached to the project. On Monday, the Municipal District of Greenview announced it had signed a letter of intent with investor Kevin O’Leary Ventures to purchase and develop thousands of acres of land within the Greenview Industrial Gateway (GIG) just south of Grande Prairie. If the mega industrial park is built, it will be considered the largest of its kind in the world. Wonder Valley, which is planned to roll out in multiple phases, would include building off-grid natural gas and geothermal power infrastructure to support the behemoth AI data centre industrial park. A seemingly AI-generated video promoting the project was posted on the O’Leary Ventures . It depicts hyper-futuristic buildings set in a valley where “technology and nature come together in perfect harmony.” O’Leary Ventures, chaired by Canadian multi-millionaire and former investor Kevin O’Leary, claims the area’s cold-weather climate, skilled labour force, and Alberta’s pro-business policies make the GIG an “ideal site” for the project. “My joint venture team, led by Paul Palandjian, CEO of O’Leary Ventures, and Carl Agren, CEO of HPC and AI Data Centres, has sourced what we believe is the most compelling site in North America to generate and offer 7.5 gigawatts of low-cost power to hyperscalers over the next 5-10 years,” said O’Leary. “With existing permits, proximity to stranded natural gas, pipeline infrastructure, water, and a fibre optic network just a few kilometres away, we will be in the ground and up and running sooner than any scale project of its kind.” The project’s first phase, producing 1.4 gigawatts of power, is projected to cost $2 billion, with annual expansions of 1 gigawatt increments. The total investment, including infrastructure and ancillary structures, is expected to exceed $70 billion over its lifetime. “This is fantastic news for Alberta. Our efforts to attract investment, grow our technology and innovation sector, and leverage our natural and human resources are being noticed. I’m excited to watch this project unfold in the months and years to come,” said Premier Danielle Smith. Plans also include engaging Indigenous communities to create a mutually beneficial relationship. The stated Wonder Valley is expected to attract attention from global investors and industry leaders, setting a “new benchmark” for large-scale data infrastructure projects worldwide. “Beyond jobs and financial benefits, this venture promises to establish Alberta and Canada as world leaders and as a center of excellence in this emerging industry.”Bancroft Fund Ltd. ( NYSE:BCV – Get Free Report ) insider Mario J. Gabelli sold 1,500 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $17.74, for a total transaction of $26,610.00. Following the transaction, the insider now directly owns 28,000 shares of the company’s stock, valued at $496,720. This represents a 5.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website . Bancroft Fund Trading Up 0.3 % BCV opened at $18.24 on Friday. The firm’s fifty day moving average price is $17.84 and its two-hundred day moving average price is $16.76. Bancroft Fund Ltd. has a fifty-two week low of $14.51 and a fifty-two week high of $18.64. Bancroft Fund Announces Dividend The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, November 22nd will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $1.28 dividend on an annualized basis and a yield of 7.02%. Institutional Inflows and Outflows About Bancroft Fund ( Get Free Report ) Bancroft Fund Ltd. is a closed-ended equity mutual fund launched by GAMCO Investors, Inc It is managed by Gabelli Funds, LLC. The fund invests in the public equity markets. It primarily invests in convertible securities including convertible debt and convertible preferred stocks. The fund invests in stocks of companies across market capitalization. Further Reading Receive News & Ratings for Bancroft Fund Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bancroft Fund and related companies with MarketBeat.com's FREE daily email newsletter .
Manchester United teammates Rasmus Hojlund and Amad Diallo exchanged words after the final whistle of a 2-1 victory on Thursday. And manager Ruben Amorin has no problem with it. “For me, it’s a very, very good sign,” Amorin said after his team beat Viktoria Plzen to stay unbeaten in the Europa League. Hojlund scored two goals and hoped for a centering pass from Diallo to go for a hat trick in the final minutes. The Denmark striker didn't get the pass, though. Viktoria had been pushing forward looking for an equalizer, which created space for United counters. On another break shortly afterward, Hojlund opted to keep the ball. The pair then had a heated post-game exchange. “We need to feel something,” Amorin said. “If we need to fight each other, it's like a family. When you don't care, you don't do nothing. When you care — you fight with your brother, with your mother, your father.” AP soccer: https://apnews.com/hub/soccer
AP Sports SummaryBrief at 1:54 p.m. ESTNigeria booked their spot at the 2024 African Nations Championship (CHAN) with a 3-1 victory over Ghana at the Godswill Akpabio Stadium in Uyo on Saturday. The victory ensured that Super Eagles B will feature in the tournament’s eighth edition, set to take place across Tanzania, Kenya, and Uganda in February 2025. The match was a spectacular showcase of Nigeria’s dominance, with three well-crafted goals in just six minutes. Despite Ghana’s coach Mas-Ud Didi Dramani expressing confidence before the game, it was Nigeria that dictated proceedings from the outset. Captain Junior Nduka’s pinpoint long pass in the 18th minute found Ismaila Sodiq, who effortlessly beat the offside trap and fired past goalkeeper Benjamin Asare to open the scoring. Two minutes later, Nigeria nearly doubled their lead, but Adamu Abubakar’s effort was deflected just wide by Ghanaian defender Abban Ebenezer. From the resulting corner kick, Nduka capitalised on a lapse in Ghana’s defence to slot home Nigeria’s second goal. The Super Eagles added their third in the 23rd minute after a defensive mix-up between Asare and Nurudeen Abdulai allowed Saviour Isaac to pounce and calmly finish past the stranded goalkeeper. Ghana managed to pull one back in the 72nd minute when Stephen Amankona’s quick interplay with Albert Amoah resulted in a well-placed shot past Nigerian goalkeeper Henry Ozoemena. However, it was merely a consolation as Nigeria celebrated their return to CHAN at the expense of their archrivals. The victory capped a year of disappointment for Ghana, following the Black Stars’ early exit at the 2023 Africa Cup of Nations (AFCON), failure to qualify for next year’s AFCON, and the inability of the Black Starlets to secure a spot in the Africa U17 Cup of Nations. Nigeria will now focus on preparing for the 2024 CHAN finals, aiming to improve on their previous silver medal finish in Morocco in 2018.
CLS Holdings plc ( LON:CLI – Get Free Report )’s stock price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 90.18 ($1.13) and traded as low as GBX 79.80 ($1.00). CLS shares last traded at GBX 80.20 ($1.01), with a volume of 95,038 shares changing hands. Analyst Ratings Changes Separately, Berenberg Bank reissued a “buy” rating and set a GBX 114 ($1.43) price objective on shares of CLS in a research note on Monday, September 2nd. Get Our Latest Report on CLS CLS Trading Down 2.1 % CLS Company Profile ( Get Free Report ) CLS Holdings plc, together with its subsidiaries, engages in the investment, development, and management of commercial properties in the United Kingdom, Germany, and France. The company operates in two segments, Investment Properties and Other Investments. It also invests in a hotel and other corporate investments. Featured Stories Receive News & Ratings for CLS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CLS and related companies with MarketBeat.com's FREE daily email newsletter .
In 2023, the Magnificent Seven stocks—Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta Platforms, and Tesla—proved their worth with substantial gains, dominating market movements. In 2024, their performance has continued to impress, further solidifying their significant influence on the market. Due to their massive market capitalizations, these stocks hold outsized influence on the Nasdaq Composite and S&P 500 indexes, driving broader market trends. Here’s a closer look at each of them: 1. Nvidia (NVDA) - +183.2% YTD Nvidia has been a standout performer in 2024, with a massive 183.2% year-to-date (YTD) gain. The company continues to be the leader in AI and GPU technologies, benefiting from surging demand for AI-powered applications and its dominant position in the AI chip market. Nvidia's Q3 earnings exceeded Wall Street expectations, with a substantial increase in both earnings and revenue compared to last year. However, the stock recently faced a 3% decline amid reports of an investigation in China for anti-monopoly violations. Despite this setback, Nvidia's growth prospects in the AI space remain robust, and it continues to be a key driver of the tech sector.OTTAWA — First Nations leaders are split over next steps after a landmark $47.8 billion child welfare reform deal with Canada was struck down, prompting differing legal opinions from both sides. The Assembly of First Nations and a board member of the First Nations Child and Family Caring Society have received competing legal opinions on potential ways forward. Ontario Regional Chief Abram Benedict says the chiefs he represents are still hoping the reform agreement with Ottawa that chiefs outside the province voted down two months ago is not moot. Chiefs in Ontario are interveners in the Canadian Human Rights Tribunal case that led to its realization. He added there are also concerns that some of the elements in the new negotiation mandate outlined by chiefs in an October assembly go beyond the current governance structure of the Assembly of First Nations. “There will have to be action by the Assembly of First Nations in the very near future to advance these positions, but you also need willing partners,” Benedict said. “We’re still considering what our options are.” Those options are also being debated in legal reviews commissioned by the Assembly of First Nations and a board member of the First Nations Child and Family Caring Society, which are both parties to the human rights case, along with Nishnawbe Aski Nation. Khelsilem, a chairperson from the Squamish Nation who penned a resolution that defeated the deal in October, critiqued the stance of Ontario First Nations by saying they negotiated a “bad agreement” for First Nations outside the province and now that chiefs want to go back to the table for a better deal, they want to split from the process entirely. “It potentially undermines the collective unity of First Nations to achieve something that is going to benefit all of us,” he said. The $47.8 billion agreement was struck in July after decades of advocacy and litigation from First Nations and experts, seeking to redress decades of discrimination against First Nations children who were torn from their families and placed in foster care. The Canadian Human Rights Tribunal said Canada’s underfunding was discriminatory because it meant kids living on reserve were given fewer services than those living off reserves, and tasked Canada with reaching an agreement with First Nations to reform the system. The agreement was meant to cover 10 years of funding for First Nations to take control of their own child welfare services from the federal government. Chiefs and service providers critiqued the deal for months, saying it didn’t go far enough to ensure an end to the discrimination. They have also blasted the federal government for what they say is its failure to consult with First Nations in negotiations, and for the exclusion of the First Nations Child and Family Caring Society, which helped launched the initial human rights complaint. In October at a special chiefs assembly in Calgary, the deal was struck down through two resolutions. The Assembly of First Nations sought a legal review of those resolutions by Fasken Martineau DuMoulin LLP — a firm where the former national chief of the organization, Perry Bellegarde, works as a special adviser. In the legal review from Fasken, it appears as though the assembly asked for direction on how to get “rid” of two resolutions used to vote down the deal, with an employee of the firm saying they can review the resolutions together if they want them both gone, or they can “leave room for compromise” with one of the resolutions. In a statement, the Assembly of First Nations said the review was conducted to access the legal, technical and operational aspects of the resolutions to ensure their “effective implementation.” “The opinions formed by external counsel are their own and do not reflect the views or positions of the AFN,” said Andrew Bisson, the chief executive officer, who added it’s not unusual for the organization to seek such reviews. Bisson did not address the language used by a Fasken employee to “get rid” of resolutions, but said “the legal and technical reviews were conducted in good faith, not to undermine the Chiefs’ direction. The Chiefs have provided clear direction, and the AFN is committed to following that direction.” The legal reviews from Fasken, dated Nov. 15, argue that the October resolutions on child welfare require a significant review of who voted for them, along with changes to the organization’s charter should they be implemented. Resolution 60 called for a rejection of the final settlement agreement, and for the establishment of a Children’s Chiefs Commission that will be representative of all regions and negotiate long-term reforms. It also called for the AFN’s executive committee to “unconditionally include” the Caring Society in negotiations. Fasken said that commission is contrary to the AFN’s charter, and the law, because the AFN’s executive committee doesn’t have the power to create one, and that the executive committee “alone” has the authority to execute mandates on behalf of the assembly. It adds there are no accountability measures for the new negotiation body, and that it will represent regions that are not participants in the AFN. Resolution 61, which built upon resolution 60, is similarly against the charter for the same reasons, the review says. As such, it says, the resolutions can’t be implemented. The firm also wrote that there were alleged conflicts of interest during the October vote, saying “numerous proxies were also employees, shareholders, directors, agents or otherwise had a vested interest” in the First Nations child and family service agencies whose interests were the subject of the resolutions voted the deal down. Chief Joe Miskokomon of Chippewas of the Thames First Nation in southwestern Ontario called that “political deception.” In response to that review, a board member of the Caring Society, which has been a vocal critic of the July deal, sought their own. The review penned by Aird Berlis for Mary Teegee and dated as Dec. 2, stated it was “inappropriate for the AFN to seek, and not disclose, legal opinions which are then cited to attempt to second-guess decisions already made by the First Nations in Assembly.” It also states that while the AFN’s vice president of strategic policy and integration, Amber Potts, raised concerns with the movers and seconders of the resolutions, the entirety of the legal opinion the assembly sought was not shared with them. Teegee’s review challenges that of the AFN’s by saying the resolutions are consistent with the AFN’s charter, and that nothing restricts First Nations in Assembly from expressing their sovereign will by delegating authority to another entity. “AFN’s role and purpose at all times is to effect the sovereign will of First Nations, however it is expressed, on ‘any matter’ that they see fit,” the review from Aird Berlis reads. “It is too late to attempt to question the resolutions. They are now final.” This report by The Canadian Press was first published Dec. 9, 2024. Alessia Passafiume, The Canadian Press
Garmin: Defying The Odds
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