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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 police chief in Columbia, S.C. announced on Thursday that Master Police Officer David Hurt has been suspended for five days without pay and removed from the K-9 unit after the dog he was handling, Turbo, died after Hurt left Turbo in a police car for eight hours, The State newspaper reported. Hurt was participating in all-day training and left the air conditioning running and the windows down in his police car. He also reportedly had deactivated a heat sensor in the vehicle, which could have warned him to the car's rising temperatures. Hurt reportedly had an officer check on Turbo at 11:30 a.m. on July 26, which was four hours into the training. When Hurt returned to the vehicle at 3:30 p.m., he found Turbo was panting heavily, foaming at the mouth and unsteady on his feet, The State reported. Hurt then took Turbo to a veterinarian, where the 2-year-old dog was euthanized. Turbo's official cause of death was organ failure from prolonged heat exposure. In addition to his unpaid suspension and removal from the K-9 unit, Hurt will also be removed from the Columbia Police's bomb squad for six months. Last month's incident has also prompted the Columbia Police to make institutional changes to how it cares for K-9s. Among the changes include requiring hourly checks on dogs left in police cars. 1355
The Pennsylvania Supreme court has ordered that the names of 11 priests accused of sexual abuse in a grand jury report remain permanently redacted.Pennsylvania Attorney General Josh Shapiro had requested that the priests' names be made public. The clergymen are among more than 300 "predator priests" accused of sexually abusing more than 1,000 child victims. The names of more than 270 priests were made public when the report was released in August. 459
The National Rifle Association is setting aside years of documents related to its interactions with a Kremlin-linked banker, as the gun-rights group appears to be bracing for a possible investigation, according to sources familiar with the situation.The NRA has faced fresh scrutiny from congressional investigators about its finances and ties to Alexander Torshin, one of the 17 prominent Russian government officials the US Treasury Department recently slapped with sanctions. The gun-rights group has said it is reexamining its relationship with Torshin, who is a lifetime NRA member, in the wake of the sanctions.The renewed attention has highlighted the close-knit if sometimes uneasy alliance between top NRA officials and Torshin -- a relationship that ensnared members of Trump's team during the presidential campaign, inviting further congressional scrutiny.Those inquiries could shed light on the tightly held fundraising practices and political activities of the NRA. The political powerhouse shelled out more than million in 2016 to back Donald Trump's candidacy -- more than it spent on 2008 and 2012 political races combined, according to the Center for Responsive Politics. Vice President Mike Pence is slated to speak at the National Rifle Association's annual convention in Dallas next Friday, an official told CNN.The NRA recently found itself facing allegations that the FBI was investigating whether Torshin illegally funneled money through the group to bolster Trump, according to a McClatchy report. The NRA has publicly denied any contact from the FBI and insisted it hasn't accepted illegal donations.Despite the public denials, officials at the gun-rights group have been anxiously preparing as if they were already under investigation, sources said. Some employees have been tasked with preserving years of documents mentioning Torshin or his associate, Maria Butina, who runs a pro-guns group in Russia, a source familiar with the situation said. Privately, some officials have expressed anxiety about a potential investigation and the group's Russian ties.The NRA's precautions could be little more than due diligence as the group faces inquiries from congressional investigators and the media about its relationship with Torshin. But the feeling among some officials internally is that the group appears to be readying for an investigation."True believers to the cause are getting very antsy," said a person privy to the NRA's internal deliberations. "They were definitely preparing, they were bracing themselves."The NRA declined to comment. 2589
The number of unauthorized immigrants in the US continued to decrease in 2016, a trend that started in 2007, according to a new report from Pew Research Center. Eleven years ago, there were around 12.2 million undocumented immigrants in the US (up from 3.5 million in 1990) while Pew's most recent report estimates there were around 10.7 million living here in 2016, the lowest estimate in a decade.Among the countries with the most immigrants in the US, the biggest decrease in undocumented immigrants was from Mexico. In 2007, around 6,950,000 unauthorized Mexican immigrants were living in the US. That figure was down to 5,450,000 in 2016. In 2012, specialists from Pew wrote in an opinion piece for CNN that Mexican immigration had decreased in the US due to a number of reasons including the weak US economy, heightened law enforcement on the border, Mexico's recession from 2008 to 2009, and a decline in Mexican birth rates.Jeffrey S. Passel and D'Vera Cohn of Pew wrote back then, "What caused the big immigration wave to stop? We think that many factors were at work, on both sides of the border. We cannot say how much of a role each of them played in tamping down migration to the United States and setting up the large reverse flows, but they all seem to have had an impact."In the new 2016 figures, the countries with the most unauthorized immigrants (besides Mexico) have remained steady in their numbers since 2007, with the exception of increased immigration from El Salvador, Guatemala, Honduras, and a slight increase from the Dominican Republic.Related: How bad is it in the countries families are fleeing? This badBetween 2012 and 2017, El Salvador, Honduras, and Guatemala were in the top five for countries whose immigrants were most likely to be denied asylum -- between 75% and 79% of applicants were denied. On average, applying for asylum can take around six months, and even then, the decision may not be finalized.As the number of unauthorized immigrants has gotten smaller, the length of time they've spent in the US, on average, has risen. The median number of years for adult unauthorized immigrant to have been in the US was 14.8 years in 2016, up from 7.1 years in 1995. Two-thirds of undocumented immigrants in 2016 had been living in the US for more than 10 years, up from only 35% in 2005.Pew's estimates for the unauthorized immigrant population living in the US is based on data from the American Community Survey or the Current Population Survey that provides the number of foreign-born residents and the number of estimated legal immigrant population. Pew deduces its figure for undocumented immigrants using that data adjusted for omissions from the survey.The-CNN-Wire 2719