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The New York attorney general is investigating the parent company of MoviePass, a source familiar with the probe confirmed to CNN Business.The state is looking into whether Helios and Matheson (HMNY) misled investors about its finances, the source said. The investigation is being conducted under New York's Martin Act, an anti-fraud and investor protection law. The existence of the probe was first reported Wednesday by CNBC.The movie subscription service exploded in popularity last year when it began offering customers the ability to watch as many movies in theaters as they wanted for per month. But that business model proved unsustainable, and the company has since changed its subscription plans and pricing as well as the number of movies it makes available to its customers.As the company's troubles worsened this year, its stock price also cratered.Helios and Matheson stock was trading at an all-time high of nearly a share in October 2017. Now the stock is trading at 2 cents — and that's after the company approved a reverse split to boost the price 250-fold earlier this summer.Nasdaq has even warned Helios and Matheson that it could delist the stock.Helios and Matheson and MoviePass did not respond to requests for comment Wednesday.The company is wrestling with other problems as well.Board member Carl Schramm, an economist and Syracuse University professor, recently quit his job and claimed that executives mismanaged the business and withheld crucial information from the board.Purported stockholders have filed two federal class-action complaints against Helios and Matheson in August, claiming the company made "materially false or misleading" statements to the market. The company said at the time that it intended to "vigorously defend" itself and believed the complaints were "without merit."Last month, the company filed new paperwork with the Securities and Exchange Commission indicating that it was going to ask shareholders to vote on another reverse split — one that this time could increase the stock by as much as 500-fold.That meeting was scheduled to happen Thursday. In documents filed with the government on Tuesday, the company said the meeting would be moved to November 1 so stockholders had more time to consider the split before voting. 2323
The holiday season is upon us, and for many, that means it’s time to hit the road and travel for Thanksgiving.In 2016, AAA estimated that more than 48 million Americans were expected to travel for turkey day.According to the AAA Autumn travel guide, most travelers plan to stay within the United States, with Orlando, Southern California, Hawaii and New York being the most popular domestic travel destinations. 419
The official schedule of memorial services for former President George H.W. Bush, who died late Friday at the age of 94, was released Saturday evening.An arrival ceremony involving both the House and Senate will be held at 4:45 p.m. ET on Monday at the US Capitol, where Bush will lie in state in the rotunda until Wednesday morning. The public can pay their respects to the 41st president from 7:30 p.m. ET Monday to 8:45 a.m. ET Wednesday.On Wednesday, family and friends will gather at the National Cathedral in Washington, DC, for an 11 a.m. ET memorial service.President Donald Trump designated Wednesday as a national day of mourning, the White House said.The former president will also lie in repose at St. Martin's Episcopal Church in Houston, where Bush lived, from 7:45 p.m. ET Wednesday until 7 a.m. ET Thursday. A second memorial service for Bush will be held at St. Martin's Episcopal Church at 11 a.m. ET Thursday.Bush will then be taken by a motorcade procession to the George H.W. Bush Presidential Library in College Station, Texas, where he will be laid to rest.. The remains will be transported by funeral car (train) to College Station.The arrival ceremony at Texas A&M University will be at 4:45 p.m. ET and will be followed by another ceremony and the interment at 5:15 p.m. ET at the George Bush Presidential Library & Museum.Both Bush's wife Barbara, the former first lady who died in April, and their daughter Robin, who died of leukemia as a child, are laid to rest on the library's grounds.A tribute website for Bush has been set up on which funeral details will be posted.In lieu of flowers, the Bush family has requested that donations be made to the George Bush School of Government and Public Service at Texas A&M University.To honor the former president, the international nonprofit Points of Light, founded by Bush, invited the public to celebrate Bush by giving a day of service in his memory. 1947
The Pentagon is preparing to send about 5,000 additional active duty troops to support border authorities' efforts to stop Central American migrants bound for the US, according to a defense official and an official familiar with the current plan.The announcement comes days before midterm elections in which President Donald Trump has repeatedly warned of dangers related to immigration and of specific but unsubstantiated threats posed by the migrants, who are still weeks away from the US border.Trump tweeted Monday that the group of Central Americans includes "gang members and some very bad people."The tweet to the President's 55.5 million followers came just two days after a man with virulently anti-immigrant views, who referred to immigrant "invasions," killed 11 people in a Pittsburgh synagogue."Please go back," Trump tweeted Monday to the migrants, who are some 900 miles away from the border and moving at a pace of 20 to 30 miles a day. "You will not be admitted into the United States unless you go through the legal process. This is an invasion of our Country and our Military is waiting for you!"The migrants are seeking asylum, which can be applied for only once someone seeking protection from persecution or fleeing violence in their home country is inside another country or is at the border."Operation Faithful Patriot" is expected to start on November 5 and last until December 15, the defense official said. The current plan is to send the additional active duty troops to Brownsville, Texas, Nogales, Arizona and likely near San Diego, California.Asked Monday whether the administration was considering closing the southern border, White House spokeswoman Sarah Sanders said, "we have a number of options on the table and we're exploring those."The official said that while no final decision has been made, the commander of Northern Command, which will oversee the operation, has the authority to preposition forces. The troops will be deployed from Fort Bragg in North Carolina, Fort Campbell and Fort Knox in Kentucky and Fort Hood in Texas.The official added that verbal orders went out this past weekend to some units and additional written orders are starting Monday. The official added that some troops were already moving and that their number could increase or decrease as needs are assessed.Last week, CNN reported that the US could send 800 or more troops to the border.Trump has said migrant groups will be a central issue of the campaign and has repeatedly linked them to Democrats. He threatened to cut off aid to Central American countries that allow the estimated 6,500 people fleeing Honduras, Guatemala and El Salvador to continue moving north.The officials emphasized the troops will be at the border to support civil authorities and that they are not expected to come into any contact with migrants. If the troops carry arms, it will be solely for self defense, the officials said.Last week, Homeland Security Secretary Kirstjen Nielsen told Fox News that her agency had asked for defense department help to "bolster our capabilities" in an effort to avoid a repeat of clashes on the Guatemalan-Mexican border between some of the northbound migrants and Mexican troops.Specifically, she said DHS has asked for air, engineering, logistics and planning support as well as vehicle barriers and "ways in which we can protect my officers and agents as well as the ports of entry themselves."This deployment is separate from an ongoing National Guard effort to support border authorities with technical assistance. There are approximately 4,000 personnel authorized for that mission, but only 2,100 are currently in place, according to the Pentagon.Asked why the President felt to compelled to send additional troops to do essentially the same thing, Sanders told reporters Monday that the "President's number one job and number one priority is protecting the safety" of Americans.The-CNN-Wire 3941
The Macy's at Herald Square boarded up its windows in anticipation of protests from the result of the presidential election. PIX11 News cameras saw workers boarding up along the famous storefront Friday evening.A spokesperson for Macy’s told PIX11 News on Saturday the windows were initially scheduled to be covered up next week."Our windows at Macy’s Herald Square were previously scheduled to be dark next week in set-up for our annual holiday displays. Out of an abundance of caution, we are implementing additional security measures at several of our stores,” the spokesperson said.A variety of Fifth Avenue stores also were boarded up on Friday afternoon, some as early as 9 a.m. Many Manhattan stores, including Macy's at Herald Square, were looted in the unrest following protests against the police custody death of George Floyd in Minneapolis.PIX11 News' James Ford also contributed to this story. 915