Pending Home Sales Dropped 2.0% in August - NAR.realtor

WASHINGTON (September 28, 2022) – Pending home sales sagged for the third straight month in August, according to the National Association of REALTORS^®. Three out of four major regions experienced month-over-month decreases in transactions, however, the West saw a modest gain. Year-over-year, all four regions posted double-digit declines.

The Pending Home Sales Index (PHSI),* www.nar.realtor/pending-home-sales, a forward-looking indicator of home sales based on contract signings, fell 2.0% to 88.4 in August. Year-over-year, pending transactions dwindled by 24.2%. An index of 100 is equal to the level of contract activity in 2001.

"The direction of mortgage rates – upward or downward – is the prime mover for home buying, and decade-high rates have deeply cut into contract signings," said NAR Chief Economist Lawrence Yun. "If mortgage rates moderate and the economy continues adding jobs, then home buying should also stabilize."

Yun expects the economy will remain sluggish throughout the remainder of this year, with mortgage rates rising to close to 7% in the coming months.

"Only when inflation calms down will we see mortgage rates begin to steady," said Yun.

As a result of the current interest rate environment and weaker economic activity, NAR expects existing-home sales to decline 15.2% in 2022, to 5.19 million units, while new home sales are projected to fall by 20.9%.

Yun notes that limited housing inventory and almost non-existent distressed property sales have supported home prices. Overall, he forecasts prices will rise by 9.6% in 2022.

In 2023, Yun foresees slower price appreciation and corresponding increases in sales as the year progresses.

"Next year, the annual median home price is expected to rise by only 1.2%," Yun added. "Home sales will pick up in the second half of 2023, but will be down by 7.1% overall."

Pending Home Sales Regional Breakdown

The Northeast PHSI decreased 3.4% from last month to 76.6, down 19.0% from August 2021. The Midwest index fell 5.2% to 88.4 in August, a 21.1% drop from the previous year.

The South PHSI slid 0.9% to 105.4 in August, a decline of 24.2% from a year ago. The West index rose by 1.4% in August to 71.0, down 31.3% from August 2021.

"Home prices are the least affordable in the West and, consequently, the region suffered deeper annual declines in contract signings due to rising interest rates when compared to other areas of the country," Yun added. "However, the recent increases of the last two months, though small, are encouraging."

The National Association of REALTORS^® is America's largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries.

# # #

*The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

Pending contracts are good early indicators of upcoming sales closings. However, the amount of time between pending contracts and completed sales is not identical for all home sales. Variations in the length of the process from pending contract to closed sale can be caused by issues such as buyer difficulties with obtaining mortgage financing, home inspection problems, or appraisal issues.

The index is based on a sample that covers about 40% of multiple listing service data each month. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity parallels the level of closed existing-home sales in the following two months.

An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined. By coincidence, the volume of existing-home sales in 2001 fell within the range of 5.0 to 5.5 million, which is considered normal for the current U.S. population.

NOTE: Existing-Home Sales for September will be reported on October 20. The next Pending Home Sales Index will be on October 28. All release times are 10 a.m. Eastern.

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DuPont and Rogers Provide Update on Pending Merger - PR Newswire

WILMINGTON, Del. and CHANDLER, Ariz., Sept. 30, 2022 /PRNewswire/ -- DuPont de Nemours, Inc. (NYSE: DD) ("DuPont") and Rogers Corporation (NYSE: ROG) ("Rogers") today provided the following update on regulatory approval of the pending merger of Rogers and Cardinalis Merger Sub, Inc., a wholly owned subsidiary of DuPont, which was previously expected to close in the third quarter of 2022.

The parties have received all regulatory approvals required to consummate the merger except for approval, which remains pending, of the State Administration for Market Regulation of China ("SAMR"). At the request of SAMR, DuPont recently withdrew and refiled with SAMR the notice of the parties' planned merger. The parties continue to hold cooperative discussions with SAMR with the aim of securing regulatory approval of the planned merger. The parties continue to seek to close the merger as soon as possible, subject to regulatory approval by SAMR and the satisfaction of other customary closing conditions set forth in the merger agreement.

As previously announced on November 2, 2021, Rogers entered into a definitive merger agreement to be acquired by DuPont for $277.00 per share in cash. Rogers' shareholders approved the merger agreement at a special shareholder meeting held on January 25, 2022.

About DuPont

DuPont (NYSE: DD) is a global innovation leader with technology-based materials and solutions that help transform industries and everyday life. Our employees apply diverse science and expertise to help customers advance their best ideas and deliver essential innovations in key markets including electronics, transportation, construction, water, healthcare and worker safety. More information about the company, its businesses and solutions can be found at www.dupont.com. Investors can access information included on the Investor Relations section of the website at investors.dupont.com.

About Rogers Corporation

Rogers Corporation (NYSE: ROG) is a global leader in engineered materials to power, protect and connect our world. Rogers delivers innovative solutions to help our customers solve their toughest material challenges. Rogers' advanced electronic and elastomeric materials are used in applications for EV/HEV, automotive safety and radar systems, mobile devices, renewable energy, wireless infrastructure, energy-efficient motor drives, industrial equipment and more. Headquartered in Chandler, Arizona, Rogers operates manufacturing facilities in the United States, Asia and Europe, with sales offices worldwide.

Safe Harbor Statement

Statements included in this release that are not a description of historical facts are forward-looking statements. Words or phrases such as "believe," "may," "could," "will," "estimate," "continue," "anticipate," "intend," "seek," "plan," "expect," "should," "would" or similar expressions are intended to identify forward-looking statements, and are based on Rogers' current beliefs and expectations. This release contains forward-looking statements, which concern the planned acquisition of Rogers by DuPont de Nemours, Inc. (the "DuPont Merger"), Rogers' plans, objectives, outlook, goals, strategies, future events, future net sales or performance, capital expenditures, future restructuring, plans or intentions relating to expansions, business trends and other information that is not historical information. All forward-looking statements are based upon information available to Rogers on the date of this release and are subject to risks, uncertainties and other factors, many of which are outside of Rogers' control, which could cause actual results to differ materially from those indicated by the forward-looking statements. Rogers' actual future results may differ materially from Rogers' current expectations due to the risks and uncertainties inherent in its business and risks relating to the DuPont Merger. These risks include, but are not limited to: uncertainties as to the timing and structure of the DuPont Merger; the possibility that various closing conditions for the transaction may not be satisfied or waived, including that a governmental entity may prohibit, delay or refuse to grant approval for the consummation of the DuPont Merger; the risk that management's time and attention is diverted on transaction related issues; the risk that Rogers is unable to retain key personnel; the effects of disruptions caused by the transaction making it more difficult to maintain relationships with employees, customers, vendors and other business partners; and the risk that stockholder litigation in connection with the DuPont Merger may result in significant costs of defense, indemnification and liability. Other risks and uncertainties that could cause such results to differ include: the duration and impacts of the novel coronavirus global pandemic and efforts to contain its transmission and distribute vaccines, including the effect of these factors on Rogers' business, suppliers, customers, end users and economic conditions generally; continuing disruptions to global supply chains and Rogers' ability, or the ability of Rogers' suppliers, to obtain necessary product components; failure to capitalize on, volatility within, or other adverse changes with respect to Rogers' growth drivers, including advanced mobility and advanced connectivity, such as delays in adoption or implementation of new technologies; uncertain business, economic and political conditions in the United States (U.S.) and abroad, particularly in China, South Korea, Germany, the United Kingdom, Hungary and Belgium, where Rogers maintains significant manufacturing, sales or administrative operations; the trade policy dynamics between the U.S. and China reflected in trade agreement negotiations and the imposition of tariffs and other trade restrictions, including trade restrictions on Huawei Technologies Co., Ltd. (Huawei); fluctuations in foreign currency exchange rates; Rogers' ability to develop innovative products and the extent to which Rogers' products are incorporated into end-user products and systems and the extent to which end-user products and systems incorporating Rogers' products achieve commercial success; the ability and willingness of Rogers' sole or limited source suppliers to deliver certain key raw materials, including commodities, to Rogers in a timely and cost-effective manner; intense global competition affecting both Rogers' existing products and products currently under development; business interruptions due to catastrophes or other similar events, such as natural disasters, war, including the ongoing conflict between Russia and Ukraine, terrorism or public health crises; the impact of sanctions, export controls and other foreign asset or investment restrictions; failure to realize, or delays in the realization of anticipated benefits of acquisitions and divestitures due to, among other things, the existence of unknown liabilities or difficulty integrating acquired businesses; Rogers' ability to attract and retain management and skilled technical personnel; Rogers' ability to protect Rogers' proprietary technology from infringement by third parties and/or allegations that Rogers' technology infringes third party rights; changes in effective tax rates or tax laws and regulations in the jurisdictions in which Rogers operates; failure to comply with financial and restrictive covenants in Rogers' credit agreement or restrictions on Rogers' operational and financial flexibility due to such covenants; the outcome of ongoing and future litigation, including Rogers' asbestos-related product liability litigation; changes in environmental laws and regulations applicable to Rogers' business; and disruptions in, or breaches of, Rogers' information technology systems. Should any risks and uncertainties develop into actual events, these developments could have a material adverse effect on Rogers or the DuPont Merger. For additional information about the risks, uncertainties and other factors that may affect Rogers' business, please see Rogers' most recent annual report on Form 10-K and any subsequent reports filed with the Securities and Exchange Commission, including quarterly reports on Form 10-Q. Rogers Corporation assumes no responsibility to update any forward-looking statements contained herein except as required by law.

SOURCE DuPont

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Populus Financial Group moves for dismissal of CFPB lawsuit and stay pending Fifth Circuit decision - Consumer Finance Monitor

Populus Financial Group, Inc., which does business as ACE Cash Express, has filed a motion to dismiss the lawsuit filed by the CFPB in July 2022 against Populus in a Texas federal district court in which the CFPB alleges that Populus engaged in unfair, deceptive, and abusive acts or practices by concealing the option of a free repayment plan to consumers and making unauthorized debit-card withdrawals.  Populus also filed a motion to stay all proceedings in the case pending the Fifth Circuit’ decision in Community Financial Services Association of America Ltd. v. CFPB.

In its motion to dismiss, Populus argues that the CFPB’s enforcement action is invalid because the CFPB’s funding structure violates the separation-of-powers principle embodied in the Appropriations Clause of the U.S. Constitution.  Pursuant to Dodd-Frank, the CFPB receives its funding through requests made by the CFPB Director to the Federal Reserve, subject to a cap equal to 12% of the Federal Reserve’s budget, rather than through the Congressional appropriations process.  Populus argues:

• This structure shields the CFPB from Congressional oversight in violation of the Appropriations Clause, which mandates that Congress alone wields the power of the federal purse.
• The CFPB is “doubly insulated” from the appropriations process because the Federal Reserve itself is insulated from the appropriations process due to its own self-funding mechanism. 
• The U.S. Supreme Court’s decision in Seila Law, which invalidated the CFPB Director’s for-cause removal protection, makes Congress’s abdication of its power over the purse even more dangerous because it puts that power in the President’s hands without any Congressional oversight.
• No other federal agency is doubly insulated from the appropriations process and wields the Bureau’s range of legislative, executive, and judicial power.  Populus contrasts the narrower missions and authority of the Federal Reserve, FDIC, and OCC, which are also self-funded.  With regard to the OCC, Populus distinguishes the OCC’s reliance on fees from the entities it regulates which it asserts creates political accountability for the OCC.  With regard to the Federal Reserve and FDIC, Populus distinguishes their multimember, bi-partisan leadership structure.

In challenging the constitutionality of the CFPB’s funding structure, Populus places substantial reliance on the concurring opinion of Judge Edith Jones in the Fifth Circuit’s en banc May 2022 decision in All American Check Cashing.  The en banc Fifth Circuit ruled that that the CFPB’s enforcement action against All American Check Cashing could proceed despite the unconstitutionality of the CFPB’s single-director-removable-only-for-cause-structure at the time the enforcement action was filed.  However, in a scholarly concurring opinion in which four other Fifth Circuit judges joined, Judge Edith Jones agreed with All American Check Cashing’s argument that the CFPB’s funding mechanism is unconstitutional.  (The majority opinion did not consider the funding argument but indicated that the district court could consider other constitutional challenges on remand.)

Although the en banc Fifth Circuit did not reach the funding argument, a Fifth Circuit panel is expected to consider that issue in the CFSA lawsuit which challenges the payment provisions in the CFPB’s 2017 final payday/auto title/high-rate installment loan rule.  The trade groups have appealed from the district court’s final judgment granting the CFPB’s summary judgment motion and staying the compliance date for the payment provisions.  On May 9, 2022, a Fifth Circuit panel heard oral argument in the CFSA lawsuit. 

The trade groups’ primary argument on appeal continues to be that the 2017 Rule was void ab initio because the CFPA’s unconstitutional removal restriction means that the Bureau did not have the authority to promulgate the 2017 Rule.  However, the trade groups submitted the concurring opinion in All American Check Cashing as supplemental authority to the Fifth Circuit panel hearing their appeal and have argued that the panel should adopt the reasoning of the concurring opinion and invalidate the 2017 Rule.

In its stay motion, Populus argues that, because the Fifth Circuit panel is poised to rule on the constitutionality of the CFPB’s funding structure in the CFSA lawsuit, the district court should stay all proceedings in the CFPB’s enforcement action pending the panel’s decision.

Populus argues that a stay would be efficient for the court and the parties because a decision on the constitutionality issue would substantially simplify the issues in the enforcement action and potentially resolve it outright.  It also argues that a stay will avoid inconsistent outcomes by ensuring that the district court’s orders do not conflict with the forthcoming Fifth Circuit decision, Populus would be prejudiced if a stay is not granted because it could be forced to unnecessarily expend substantial resources defending an enforcement action that could soon be found to be invalid, and the CFPB would not be prejudiced by a stay.

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U.S. asks court to halt sugar deal closing pending appeal - Reuters.com

WASHINGTON, Sept 29 (Reuters) - The U.S. Justice Department asked an appeals court on Thursday to prevent the closing of U.S. Sugar's plan to buy Imperial Sugar Co after a lower court ruled that the $315 million deal could go forward.

The department asked the court to order the companies to delay closing until an appeal could be heard. It argued that the relief was needed to "protect competition and to preserve the Government's ability to obtain an effective remedy on appeal." It said that if the appeals court does not act that the companies could close on October 3.

U.S. Sugar, which has fought the government to preserve the merger, did not immediately reply to a request for comment.

Judge Maryellen Noreika of the U.S. District Court for Delaware had ruled for the companies on Sept. 23, rejecting the government's request that she stop the deal from going forward. read more

The case is in the U.S. Court of Appeals for the Third Circuit in Philadelphia.

Reporting by Diane Bartz; Editing by Chizu Nomiyama

Our Standards: The Thomson Reuters Trust Principles.

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McFaddens murder case still pending - Yahoo News

Sep. 28—Over four years since Corbin resident Sherry Rose was killed, the two people charged with her murder still have no trial date.

Joseph Craig McFadden and his wife, Christie Rose McFadden, both of Corbin (southern Laurel County), have appeared in Laurel Circuit Court to answer the charges, but their case is now set for a status hearing on November 16.

The McFaddens lived with Sherry Rose, the mother of Mrs. McFadden, in southern Laurel County. But when Rose did not show up for work in mid-June 2018, her co-workers contacted police since she was never late or missed work and hadn't been heard from.

That report sent police to Rose's home on Thoroughbred Trail in a mobile home park off Cumberland Gap Parkway and American Greetings Road. The investigation from that visit — with information from neighbors — revealed that Rose had not been seen in several days and that her daughter and son-in-law had been seen unloading cleaning supplies from Rose's vehicle on the weekend she was reported missing.

After more investigation, Laurel Sheriff's officials located two men who assisted the McFaddens in disposing of Rose's body. Sheriff's officials began searching for the McFaddens, who led them on a chase before being taken into custody. Further investigation indicated that Rose and the McFaddens had an argument on June 15, 2018 and that Joseph McFadden had stabbed Rose in the neck. The couple then loaded Rose's body into a suitcase in her vehicle and transported it to a friend's home in southern Laurel County. The body was transferred to another vehicle owned by the friend, then taken to a wooded area in Clay County where it was discovered several days later.

Two men were charged in connection with transporting the body and have settled their cases in Laurel Circuit Court. Michael Hinkle and Cody Allen Hinkle pled guilty to tampering with physical evidence in July 2021 and were sentenced to serve two years. Another charge — abuse of a corpse — was dropped as part of their plea agreement.

The trial date for the McFaddens was one of many postponed during the COVID-19 pandemic in 2020. Other trial dates have been postponed as well, leaving the case pending for nearly five years.

Joseph McFadden is charged in three different cases with charges ranging from murder, theft by unlawful taking under $10,000, tampering with physical evidence, abuse of a corpse, two counts of fleeing and evading police (on foot), terroristic threatening, resisting arrest, public intoxication controlled substance, and flagrant non-support.

Christie McFadden is charged with murder, theft by unlawful taking under $10,000, tampering with physical evidence, abuse of a corpse, fleeing and evading police (on foot), hindering prosecution/apprehension, terroristic threatening, resisting arrest and public intoxication controlled substance.

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Pending Home Sales Dropped 2.0% in August - NAR.realtor

WASHINGTON (September 28, 2022) – Pending home sales sagged for the third straight month in August, according to the National Association of REALTORS^®. Three out of four major regions experienced month-over-month decreases in transactions, however, the West saw a modest gain. Year-over-year, all four regions posted double-digit declines.

The Pending Home Sales Index (PHSI),* www.nar.realtor/pending-home-sales, a forward-looking indicator of home sales based on contract signings, fell 2.0% to 88.4 in August. Year-over-year, pending transactions dwindled by 24.2%. An index of 100 is equal to the level of contract activity in 2001.

"The direction of mortgage rates – upward or downward – is the prime mover for home buying, and decade-high rates have deeply cut into contract signings," said NAR Chief Economist Lawrence Yun. "If mortgage rates moderate and the economy continues adding jobs, then home buying should also stabilize."

Yun expects the economy will remain sluggish throughout the remainder of this year, with mortgage rates rising to close to 7% in the coming months.

"Only when inflation calms down will we see mortgage rates begin to steady," said Yun.

As a result of the current interest rate environment and weaker economic activity, NAR expects existing-home sales to decline 15.2% in 2022, to 5.19 million units, while new home sales are projected to fall by 20.9%.

Yun notes that limited housing inventory and almost non-existent distressed property sales have supported home prices. Overall, he forecasts prices will rise by 9.6% in 2022.

In 2023, Yun foresees slower price appreciation and corresponding increases in sales as the year progresses.

"Next year, the annual median home price is expected to rise by only 1.2%," Yun added. "Home sales will pick up in the second half of 2023, but will be down by 7.1% overall."

Pending Home Sales Regional Breakdown

The Northeast PHSI decreased 3.4% from last month to 76.6, down 19.0% from August 2021. The Midwest index fell 5.2% to 88.4 in August, a 21.1% drop from the previous year.

The South PHSI slid 0.9% to 105.4 in August, a decline of 24.2% from a year ago. The West index rose by 1.4% in August to 71.0, down 31.3% from August 2021.

"Home prices are the least affordable in the West and, consequently, the region suffered deeper annual declines in contract signings due to rising interest rates when compared to other areas of the country," Yun added. "However, the recent increases of the last two months, though small, are encouraging."

The National Association of REALTORS^® is America's largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries.

# # #

*The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

Pending contracts are good early indicators of upcoming sales closings. However, the amount of time between pending contracts and completed sales is not identical for all home sales. Variations in the length of the process from pending contract to closed sale can be caused by issues such as buyer difficulties with obtaining mortgage financing, home inspection problems, or appraisal issues.

The index is based on a sample that covers about 40% of multiple listing service data each month. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity parallels the level of closed existing-home sales in the following two months.

An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined. By coincidence, the volume of existing-home sales in 2001 fell within the range of 5.0 to 5.5 million, which is considered normal for the current U.S. population.

NOTE: Existing-Home Sales for September will be reported on October 20. The next Pending Home Sales Index will be on October 28. All release times are 10 a.m. Eastern.

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Wallace State Community College: Employee placed on administrative leave pending investigation into ‘offensive’ statements - WBRC

HANCEVILLE, Ala. (WBRC) - Wallace State Community College leaders said an employee was placed on administrative leave pending an investigation into recent ‘offensive’ statements.

Wallace State Community College emailed this news release Wednesday afternoon:

Wallace State Community College condemns racism and bigotry in all its forms, and addresses any infractions of our policies decisively, including and especially those that prohibit discrimination. The recent statements made by one of our employees are offensive to everyone who values human life, equity, diversity, inclusion and accessibility. The employee has been placed on administrative leave pending further investigation.

Wallace State has made a sustained, conscious commitment to learning that transforms lives and communities in a positive and meaningful way through student-centered and supportive learning environments, teaching excellence, and respect for uniqueness and diversity, which are at the very essence of our mission. Wallace State was named a Caring Campus by the institute for Evidence-Based Change several years ago, and that designation is based in part on the holistic services, welcoming environment and sense of acceptance students find here, and on our work toward diversity, equity, inclusion and belonging. Our efforts to create an inclusive, caring campus will always be ongoing. This incident is a reminder that we must never think this work is done.

As a college, we affirm our commitment to recognizing, addressing, and eliminating racism, bigotry and discrimination in all its forms, and to serving as a beacon of equity, equality, inclusivity and accessibility for our community.

Wallace State will follow policies and procedures regarding this issue and will work towards a swift resolution.

If members of the college community need support, please reach out to the following resources:

Vice President for Students Office, vpforstudents@wallacestate.edu, 256.352.8340

College Mental Health Counselor, counselor@wallacestate.edu, 256.427.9336

Campus Ministries, campusministries@wallacestate.edu, 256.352.8280, or bcm@wallacestate.edu, 256.339.3765

CARE Team, wallacecares@wallacestate.edu, 256.352.8462

Campus Police, police@wallacestate.edu, 256.735.9975

Submit a CARE Report here: https://www.wallacestate.edu/submit-a-care-report.html

Copyright 2022 WBRC. All rights reserved.

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Pending notice: Almon J. Sorenson, 87 - Austin Daily Herald - Austin Herald

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Pending notice: Almon J. Sorenson, 87 - Austin Daily Herald  Austin Herald
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Pending Record Catfish Caught in Tennessee - Wired2Fish

Micka Burkhart caught a monster blue catfish that will likely be the new Tennessee state record catfish on Saturday Sep. 24, 2022 at 12:30 p.m. on the Cumberland River in Stewart County, Tennessee on a skipjack and a 30-pound test line!

The 118-pound, 7-ounce blue cat will be a new Tennessee record pending verification and certification.

Official measurements:

• Weight: 118 pounds, 7 ounces
• Length: 54 inches long
• Girth: 41-inch girth

For all who are wondering, Burkhart successfully released this pending record back into the Cumberland River.

Here’s what he posted on his Facebook page:

“Well it was a day to say the least,” Burkhart said. “I’d like to give a huge shout out to #MADKATZ , Bryan Ladd and Brandon Ladd ,Doyle and Pam Hinson Scarborough and Bone Town  planer boards and everyone else that help me out today with this 118.7-pound blue cat that is right now the unofficial new state record.

“Going to have to wait for all the papers to be processed. I am truly blessed to have family and friends that stopped everything to help with this fish. Thank you all.”

Check out the pics of this massive fish!

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Two Rockford officers on leave pending teen shooting investigation - WIFR

ROCKFORD, Ill. (WIFR) - The Winnebago-Boone Integrity Task Force takes over an investigation Saturday after an officer-involved shooting.

Police responded around 9 p.m. to a domestic dispute involving a mother and her son in the 4400 block of St. Anne’s Way in Rockford.

During the investigation, it was believed that the teenage boy left the home and was involved in a car accident. Later, police found the 17-year-old in the basement of the residence.

“The suspect had two knives on him and started approaching the officers and family members,” said Deputy Chief Robert Reffett in an interview.

Reffett says during that time, one officer reportedly fired their weapon, and a taser was also deployed.

The teenage boy was then taken to a nearby hospital and treated for a non-life-threatening gunshot wound.

The Rockford Police Department shared information about the incident Saturday via Twitter:

Officer-involved shooting in the 4400 block of St. Anne’s Way. 17-year-old male sustained non-life-threatening injuries. Further details will follow when available and confirmed.

— RockfordILPolice (@RockfordPD) September 25, 2022

Both officers at the scene have been placed on administrative leave pending the outcome of the investigation.

Copyright 2022 WIFR. All rights reserved.

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Two Rockford officers on leave pending teen shooting investigation - WIFR

ROCKFORD, Ill. (WIFR) - The Winnebago-Boone Integrity Task Force takes over an investigation Saturday after an officer-involved shooting.

Police responded around 9 p.m. to a domestic dispute involving a mother and her son in the 4400 block of St. Anne’s Way in Rockford.

During the investigation, it was believed that the teenage boy left the home and was involved in a car accident. Later, police found the 17-year-old in the basement of the residence.

“The suspect had two knives on him and started approaching the officers and family members,” said Deputy Chief Robert Reffett in an interview.

Reffett says during that time, one officer reportedly fired their weapon, and a taser was also deployed.

The teenage boy was then taken to a nearby hospital and treated for a non-life-threatening gunshot wound.

The Rockford Police Department shared information about the incident Saturday via Twitter:

Officer-involved shooting in the 4400 block of St. Anne’s Way. 17-year-old male sustained non-life-threatening injuries. Further details will follow when available and confirmed.

— RockfordILPolice (@RockfordPD) September 25, 2022

Both officers at the scene have been placed on administrative leave pending the outcome of the investigation.

Copyright 2022 WIFR. All rights reserved.

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Angler on date with wife lands pending record catfish - For The Win

A Tennessee angler on Saturday landed a pending state-record blue catfish while enjoying ‘kind of a date’ with his wife.

The 118-pound, 7-ounce catfish was reeled from the Cumberland River by Micka Burkhart, who was fishing with his wife, Amy. The fish was weighed in front of witnesses, including a state biologist, and released.

ALSO: Texas restaurant involved in shark-fin possession case identified 

“The blue cat will be a new Tennessee record pending verification and certification,” The Tennessee Wildlife Resources Agency boasted Sunday on Facebook.

The current record, 112 pounds, was set in 1998, also on the Cumberland River.

Burkhart, in reference to Amy, told News 9: “We don’t get to fish together a whole lot this was kind of like a date. In fact, that morning she made a joke saying, ‘Every time we go on a date, somehow or another your friends get involved.’ I told her, ‘Nope, today it’s just you and me on the river.’ ”

Burkhart was fishing with 30-pound-test line and using skipjack shad for bait. The catfish, kept in a live-well during his search for a certified scale, measured 54 inches with a girth of 41 inches.

For comparison, the world record for blue catfish stands at 143 pounds. That catch was made in 2011 by Richard Nicholas Anderson at Kerr Lake in Virginia.

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'Bloodbath': Citrix buyout debt sale casts shadow over pending deals - Financial Times

Banks lost $600mn this week when they closed the largest corporate junk bond sale of 2022. Yet the financial damage inflicted from underwriting the $16.5bn leveraged buyout of Citrix may only be beginning.

After offloading $8.55bn of bonds and loans at knockdown prices, lenders including Bank of America, Goldman Sachs and Credit Suisse still have billions more Citrix debt on their books worth far less than when they agreed to underwrite it in January. And banks still hold vastly more debt from financial packages backing buyouts of television ratings group Nielsen, TV broadcaster Tegna, car parts maker Tenneco and — if completed — Elon Musk’s $44bn takeover of Twitter.

The Citrix debt sale was viewed as a test of capital markets that have been shaken since Russia invaded Ukraine, global growth cooled briskly and central banks from Frankfurt to Washington began to aggressively raise interest rates. Demand was weak, with money managers preferring to hold cash or higher quality investments than lend to risky companies and private equity firms. One banker involved in the deal said it was a “bloodbath”.

Interest was so scant that one of the investors to buy $1bn worth of the bonds was Elliott Management — which along with Vista Equity Partners is also one of the two private investment groups buying out Citrix, according to people briefed on the matter and documents viewed by the Financial Times.

“We had to get the pig through the python,” a second banker involved in the buyout financing said. “Everyone was getting comfortable in August again but unfortunately Jackson Hole happened and then everything went haywire,” the banker added, alluding to Federal Reserve chair Jay Powell’s remarks in Jackson Hole, Wyoming last month, where he made clear his resolve to tame inflation with higher interest rates.

Borrowing costs have surged. When banks were racing to lend to companies and private equity firms at the start of the year, a US business with a lowly single B debt rating could expect an interest rate of roughly 4.74 per cent. The rate is 9.2 per cent today. As Citrix demonstrated, even that level may not be enough to entice would-be creditors.

Bankers ended up selling $4bn of secured Citrix bonds at a discounted price of about 83.6 cents on the dollar to yield 10 per cent. A further $4.55bn of loans were sold at 91 cents on the dollar, also to yield 10 per cent. For the banks that agreed to lend to Citrix’s buyers before the Fed began tightening, the resulting losses have been painful.

“​​After a period of superabundant liquidity, when rates go up this much a bubble that has formed somewhere bursts,” said Bob Michele, head of JPMorgan Asset Management’s global fixed income, currency and commodities unit. “It has happened every single time, and that shows you the Fed has done its job.”

The Citrix deal captivated the market in part because of its size, but also because of the relatively small amounts of equity investment that Elliott and Vista were putting in to buy the enterprise software company. To support the gargantuan debt sale, Elliott contributed more than $2bn in cash while Vista merged its already leveraged Tibco software business at a more than $4bn valuation.

So flush were the banks in January, that they had little problem getting risk managers to sign off on the jumbo-sized deal they agreed to underwrite. The high level of gearing at Citrix has become increasingly costly, with some dealmakers privately worrying that rising interest costs could absorb most of its cash flow.

Citrix is not alone. Among the deals causing heartburn for Wall Street is Musk’s takeover of Twitter, a deal he is trying to back out of. But unless a judge sides with the billionaire — or the social media group’s board agrees to terminate the transaction — a group of seven banks that agreed to lend $13bn in April for the buyout are still on the hook despite recent troubles at the company and the market downturn. It is a deal that investors believe would heap mammoth losses on underwriters.

Bankers involved in the Citrix financing told the FT they were relieved that they were able to finalise the $8.55bn debt deal and that it did not fall apart. While they are still holding roughly $6.45bn of Citrix debt on their balance sheets — including some of the riskiest bonds that they could not sell — the fact that markets were not fully shut has given them hope they will be able to sell on more debt sitting on their books.

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But the lacklustre demand, including the banks’ failed attempt to offload the junior Citrix debt over the summer, will nonetheless hamstring Wall Street’s ability to write new low-rated loans. The fact that some of the largest lenders in the US are stuck holding some of the riskiest debt may also concern regulators.

“It feels like even when the banks are through the deal, there’s still an overhang,” said a top executive at a large lender.

Bank of America, Credit Suisse and Goldman Sachs declined to comment.

As banks have closed to new business in order to clear problematic financings, frustrated private equity buyers have turned to direct lenders such as Blackstone, Apollo and Ares, which have financed ambitious privatisations as with Zendesk and Avalara this summer.

“Banks have basically gone on hold,” the head of a large firm that buys syndicated bank debts said. “Direct lenders are going upmarket into larger deals and taking business away.”

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Ravens officially agree to terms with pass rusher Jason Pierre-Paul, pending physical - Ravens Wire

The Baltimore Ravens needed help in the pass rushing department, especially after losing Steven Means in Week 2 against the Miami Dolphins to a torn achilles. On Thursday, it was reported by multiple outlets that Baltimore was signing veteran pass rusher Jason Pierre-Paul to a one-year deal worth up to $5.5 million dollars.

While the news wasn’t confirmed by the team on Thursday, they announced that they’ve officially agreed to terms with Pierre-Paul, pending a physical. He enters his 13th-NFL season, playing his first eight with the New York Giants before sending his last four with the Tampa Bay Buccaneers.

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Three Multnomah County Corrections Deputies Are on Leave Pending a Criminal Investigation - Willamette Week

Three Multnomah County sheriff’s corrections deputies, Mirzet Sacirovic, Jorge Troudt and Gustavo Valdovinos, were placed on paid administrative leave Sept. 21, WW has learned.

Corrections deputies typically supervise inmates in the county’s jails.

The suspensions are “related” to a joint investigation by the sheriff’s office and Oregon State Police. A spokesman for OSP confirmed the investigation, as did a spokesman for Sheriff Mike Reese.

“The Multnomah County Sheriff’s Office takes all allegations of misconduct seriously and is thoroughly investigating these matters,” spokesman Chris Liedle said in a statement. “To protect the integrity of the ongoing investigation, we cannot comment further at this time.”

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Canada's pending COVID-19 vaccine decision has major effect on Red Wings - ClutchPoints

Detroit Red Wings forward Tyler Bertuzzi could not play in Canada last season due to his vaccination status. This season, his vaccination status may not matter.

According to a report from The Globe and Mail, the Canadian government is set to drop the COVID-19 vaccination requirement for entry by the end of September. This move would allow Bertuzzi to play games in Canada this upcoming season.

This would be a welcomed change for the Red Wings. Bertuzzi enjoyed a career year last season. He scored 30 goals and 62 points in 68 games last season. He enters the final year of his contract in 2022-23.

“Hopefully that is true,” general manager Steve Yzerman said Wednesday. “That looks like that opens the door to get back to normal to have the ability to play in Canada, which will help us.”

He’s been on our top power play unit, our top six. To lose him for those games is tough. If chance we win more games, we’re more competitive this year, those points are more and more important to us eventually to push for a playoff spot, whether it’s this year or next year or what not,” the Red Wings GM continued.

“And then the likelihood of us playing a team in Canada when we become a playoff team is pretty high. We’re a better team with Tyler Bertuzzi in the lineup. So if that is true, that is good news for us.”

Overall, this is positive news for the Red Wings and their star forward. Bertuzzi being in the lineup always gives them an extra edge against their opponents.

Furthermore, if the Red Wings are out of the playoff picture, this increases his trade value. Canadian teams such as the Edmonton Oilers and Vancouver Canucks surely covet the forward. The changed vaccination policy would allow Bertuzzi to play home games in Canada.

The Red Wings were the most active team in the league this off-season. However, it seems as if their biggest acquisition may have been on their roster the entire time.

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Tri-Cities pending home sales down for fourth month - elizabethton.com

Tri-Cities pending home sales down for fourth month

Published 1:28 pm Wednesday, September 21, 2022

One of the primary forward-looking monthly housing reports is down for the fourth straight month. Sellers accepted 868 new contracts, down 20 from July and 102 fewer than August last year.

Pending sales are a leading indicator of housing activity based on signed contracts for existing single-family homes and condominium sales in the region monitored by the Northeast Tennessee Association of Realtors (NETAR). Since resales go under contract 30 to 60 days before they close, accepted contracts offer insight into home sales’ direction.

“The housing market roll-over from last year’s all-time highs is underway and moving at a snail’s pace,” NETAR President Rick Chantry said. “Buyers are beginning to get a little more bargaining power and some sellers are doing more negotiating before accepting a contact. But it’s still a sellers’ market and given all the current indictors will be that way for a while. The typical sales price has been flat for the last three months. It’s at an all time high and on track for another annual double-digit price appreciation.”

At mid-month, the region had 977 properties on the market. That’s a little over a month’s inventory, and down from last month’s and last year’s totals. “It’s down because sellers with the resources snapped up some of the new listings coming on the market and took advantage of sellers’ willingness to come off their asking price.”

The typical home that sold in August was on the market for 45 days before it closed, up one day from July. This time last year it was 49 days, so current demand is actually a little stronger. Time on the market is a demand indicator. When it increases, demand is softening. When it declines, demand is increasing.

The average listings went under contract in about two weeks last month.

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CRS Updates Report on Windfall Elimination Provision to Reflect Pending Legislation - ASPPA Net

The Congressional Research Service (CRS) has released an updated version of its report concerning the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO). It includes discussion of pending legislation that would affect both. 

The updated version of “Social Security: The Windfall Elimination Provision (WEP),” the CRS report that concerns the WEP and the GPO—benefit formulas that reduce Social Security benefits for workers and their eligible family members if the worker receives (or is entitled to) a pension based on earnings from employment not covered by Social Security—now includes information concerning bills before chambers of Congress that would affect the formulae. “Recent legislation has generally proposed either to eliminate the provision for all or some affected beneficiaries, or replace the current-law provision with a new proportional formula based on past earnings from both covered and noncovered employment,” notes the report.

About the WEP

The WEP is a modified benefit formula that reduces the Social Security benefits of certain retired or disabled workers who are also entitled to pension benefits based on earnings from jobs that were not covered by Social Security and thus not subject to the Social Security payroll tax. It is intended to remove an advantage or “windfall” that these workers would otherwise inadvertently receive due to the interaction between the regular Social Security benefit formula and the workers’ relatively short careers in Social Security-covered employment. 

In December 2021, the WEP affected approximately about 2 million people — mainly state and local government employees covered by alternative staff-retirement systems, as well as most permanent civilian federal employees hired before Jan. 1, 1984, who are covered by the Civil Service Retirement System (CSRS). 

There are pro and con arguments concerning the WEP: 

• Supporters argue that the formula is a reasonable means to prevent overgenerous payments and unintended benefits to people who have earnings not covered by Social Security and receive pensions from noncovered work.
• Opponents argue that the provision substantially reduces a benefit that workers may have included in their retirement plans, and it reduces benefits disproportionately for lower-earning households. Others criticize the current WEP formula as an imprecise way to determine the actual windfall when applied to individual cases. 

Legislation that Would Affect the WEP

Pending federal legislation generally proposes either to eliminate the provision for all or some affected beneficiaries, or replace the current-law provision with a new proportional formula based on past earnings from both covered and noncovered employment.

The Equal Treatment of Public Servants Act of 2021

Rep. Kevin Brady (R-TX) introduced the Equal Treatment of Public Servants Act of 2021, H.R. 5834, on Nov. 3, 2021. The bill would replace the WEP with the new proportional formula for individuals who become eligible for Social Security benefits in 2023 or later. Individuals becoming eligible during the transitional period between 2023 and 2061 would receive the higher of their benefit under the current-law WEP or the proportional formula. For those who become eligible in 2062 and later, benefits would be based solely on the proportional formula. The bill also would provide a rebate payment starting nine months after enactment for workers (up to $100 per month) and their dependents (up to $50 per month) affected by the current WEP. The rebate payments would increase with cost-of-living adjustments.

Status. The measure was referred to the Ways and Means Committee; specifically, its Subcommittee on Social Security. It has not taken action. 

Social Security 2100: A Sacred Trust

The Social Security 2100: A Sacred Trust was introduced in both chambers of Congress on Oct. 26, 2021. Rep. John Larson (D-CT) introduced the House version, H.R. 5723; Sen. Richard Blumenthal (D-CT) introduced the Senate version, S. 3071. 

The bills include provisions that would repeal the WEP and the GPO for benefits payable during 2022-2026. The Social Security Administration’s  Office of the Chief Actuary estimated that enactment of this provision alone would increase the net long-term cost by 0.01% of taxable payroll.

Status. H.R. 5723 was referred to the House Ways and Means Committee — specifically, its Subcommittee on Social Security; it also was referred to the House Energy and Commerce Committee — specifically, its Subcommittee on Health. S. 3071 was referred to the Senate Finance Committee. They remain pending in those bodies. 

Wellbeing for Every Public Servant Act of 2021

Rep. Julia Letlow (R-LA) introduced the Wellbeing for Every Public Servant Act of 2021, H.R. 4788, on July 29, 2021. It provides that individuals whose combined monthly benefits from Social Security and noncovered public pensions are below a wage-indexed amount of $5,500 would be exempt from the WEP. Beneficiaries whose combined monthly benefits from Social Security and noncovered public pensions are between $5,500 and $6,333 would be subject to a partial WEP reduction. The legislation would apply to benefits payable for months after the enactment of this act.

Status. The measure was referred to the Ways and Means Committee; specifically, its Subcommittee on Social Security. It has not taken action. 

Social Security Fairness Act of 2021

On Jan. 4, 2021, Rep. Rodney Davis (D-IL) introduced H.R. 82, the House version of the Social Security Fairness Act of 2021. The bill would amend title II of the Social Security Act to eliminate the WEP and the GPO; it also would repeal provisions that reduce Social Security benefits for individuals who receive other benefits, such as a pension from a state or local government. These changes would be effective for benefits payable after December 2021. On April 22, Sen. Sherrod Brown (D-OH) introduced the Senate version, S. 1302. 

Status. On July 15, 2022, a motion was filed in the House to place the bill on the consensus calendar; on Sept. 20, the House did so; this means that the bill could be considered by the House of Representatives be the end of September. S. 1302 was referred to the Senate Finance Committee, which has not taken action on it yet. 

Public Servants Protection and Fairness Act of 2021

On April 1, 2021, Rep. Richard Neal (D-MA), Chairman of the House Ways and Means Committee, introduced H.R. 2337, the Public Servants Protection and Fairness Act. 

The bill would replace the WEP with the new proportional formula for individuals who become eligible for OASDI benefits in 2023 or later. A benefit guarantee provision would allow individuals to receive the higher of their benefit under the current-law WEP or the proportional formula. The proposal would also provide a rebate payment starting nine months after enactment for retired-worker and disabled-worker beneficiaries affected by the current WEP (up to $150 per month); the rebate payments would increase with cost-of-living adjustments. 

Status. The measure was referred to the Ways and Means Committee; specifically, its Subcommittee on Social Security. It has not taken action.

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Library books 'pending review' by district – Action News Jax - ActionNewsJax.com

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Library books 'pending review' by district – Action News Jax  ActionNewsJax.com
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Chalmette High teacher punched trying to break up fight; charges pending - FOX 8 Local First

ST. BERNARD PARISH, La. (WVUE) - A Chalmette High School teacher is recovering after being punched in the face trying to stop a fight in her class.

The fight broke out Friday afternoon (Sept. 16) and was captured on cell phone widely circulated on social media.

Two students have been suspended from campus and the school system says it wants a criminal investigation. The St. Bernard Sheriff’s Office says it is reviewing video of the incident to determine what criminal charges the students might face.

Parents say they are appalled at the fight and the fact that a teacher who tried to stop it took a punch to the face.

“It was horrible because the two kids just wouldn’t stop fighting,” said Ruby Espino.

“I think it’s sad. They should’ve taken that outside and she should’ve called security,” said Tim Lannes.

St Bernard’s longtime school superintendent Doris Voitier says she too was stunned by what she saw.

“When I saw the video I was appalled, our teacher shouldn’t be involved in an environment like that and our students should have ways to settle their differences,” she said.

The video raises questions about school security and whether teachers should intervene.

School officials are seeking to press charges after a Chalmette High School teacher was punched while trying to break up a fight between two students on Fri., Sept. 16.(WVUE)

“She’s bruised. Her nose is not broken but she is bruised and I am very upset and we are fully supporting our teacher,” said Voitier.

St. Bernard deputies were on campus Monday as the investigation continued.

“We are proceeding with pressing charges and then the students will also be subject to the disciplinary practices of our school system,” said Voitier.

This is the second major incident at Chalmette High in a week’s time. On Sept. 12, a former student was arrested after school hours for allegedly pulling a gun during a fight on campus.

“We have adults, students, sometimes their anger gets the best of them. I’ve seen behavior that’s more intense than it used to be,” said Voitier.

School officials are seeking to press charges after a Chalmette High School teacher was punched while trying to break up a fight between two students on Fri., Sept. 16.(WVUE)

The school system has two full-time resource officers which some believe is not enough.

“Not really, they need to do more for everybody in the community,” said Espino.

”I told [the teacher] to take some time and make sure she gets fully healed before she comes back,” said Voitier.

Many are relieved the teacher, who has asked not to be identified, wasn’t hurt any worse.

The St. Bernard Sheriff’s Office says they are reviewing the video of the incident to determine what the students may be charged with.

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Chalmette High teacher punched trying to break up fight; charges pending - FOX 8 Local First

ST. BERNARD PARISH, La. (WVUE) - A Chalmette High School teacher is recovering after being punched in the face trying to stop a fight in her class.

The fight broke out Friday afternoon (Sept. 16) and was captured on cell phone widely circulated on social media.

Two students have been suspended from campus and the school system says it wants a criminal investigation. The St. Bernard Sheriff’s Office says it is reviewing video of the incident to determine what criminal charges the students might face.

Parents say they are appalled at the fight and the fact that a teacher who tried to stop it took a punch to the face.

“It was horrible because the two kids just wouldn’t stop fighting,” said Ruby Espino.

“I think it’s sad. They should’ve taken that outside and she should’ve called security,” said Tim Lannes.

St Bernard’s longtime school superintendent Doris Voitier says she too was stunned by what she saw.

“When I saw the video I was appalled, our teacher shouldn’t be involved in an environment like that and our students should have ways to settle their differences,” she said.

The video raises questions about school security and whether teachers should intervene.

School officials are seeking to press charges after a Chalmette High School teacher was punched while trying to break up a fight between two students on Fri., Sept. 16.(WVUE)

“She’s bruised. Her nose is not broken but she is bruised and I am very upset and we are fully supporting our teacher,” said Voitier.

St. Bernard deputies were on campus Monday as the investigation continued.

“We are proceeding with pressing charges and then the students will also be subject to the disciplinary practices of our school system,” said Voitier.

This is the second major incident at Chalmette High in a week’s time. On Sept. 12, a former student was arrested after school hours for allegedly pulling a gun during a fight on campus.

“We have adults, students, sometimes their anger gets the best of them. I’ve seen behavior that’s more intense than it used to be,” said Voitier.

School officials are seeking to press charges after a Chalmette High School teacher was punched while trying to break up a fight between two students on Fri., Sept. 16.(WVUE)

The school system has two full-time resource officers which some believe is not enough.

“Not really, they need to do more for everybody in the community,” said Espino.

”I told [the teacher] to take some time and make sure she gets fully healed before she comes back,” said Voitier.

Many are relieved the teacher, who has asked not to be identified, wasn’t hurt any worse.

The St. Bernard Sheriff’s Office says they are reviewing the video of the incident to determine what the students may be charged with.

See a spelling or grammar error in our story? Click Here to report it. Please include the headline.

Copyright 2022 WVUE. All rights reserved.

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Lake High School assistant principal and head football coach takes leave pending investigation. - WTVG

MILLBURY, Ohio (WTVG) - Lake Local Schools District officials announced their decision to relieve the high school assistant principal and football coach of his duties on Monday.

According to a brief statement released by district officials, Josh Andrews has been “relieved of his duties at Lake High School pending the outcome of an investigation into improper communications.”

Details of the investigation or incident in question have yet to be released at this time. In addition, according to the statement, district officials will not further comment.

According to the district’s statement, school officials named the high school’s defensive coordinator David Rymers as the Interim Head Football Coach “moving forward”.

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Adnan Syed's life sentence vacated, given home detention pending new trial - wmar2news.com

BALTIMORE — Adnan Syed is a free man, pending a potential new trial.

On Monday, Baltimore Circuit Court judge Melissa M. Phinn agreed to grant a motion by the Baltimore City State's Attorney's Office to vacate Syed's 1999 murder conviction.

Syed has been jailed since 1999, serving a life sentence for the murder of his high school girlfriend Hae Min Lee, whose body was discovered in Leakin Park.

New footage of Adnan Syed as he walks out of the courtroom

The case gained national recognition when it was featured on the podcast Serial, which questioned some evidence used to convict Syed.

Other information has since come to light leading some to doubt whether Syed was ever in fact guilty.

After the hearing, Syed's attorney and the Maryland Office of the Public Defenders said "he never should have waited this long for his name to be cleared and his freedom restored."

Adnan Syed never should have waited this long for his name to be cleared and his freedom restored. The information pointing to other, more likely, suspects was within the possession of the State Attorney's Office for 23 years. Withholding evidence is unconscionable and morally reprehensible. I applaud my colleague, Assistant Public Defender & Innocence Project Clinic Director, Erica Suter for her outstanding work which led the State to correct this injustice. It is her tenacity, thoroughness, and commitment which got us here today. As public defenders, we are at the forefront of uncovering withheld evidence and shining light on the grave issues and wrongs. The State must continue to correct past injustice and engage in meaningful reform focused on preventing wrongful convictions and prosecutions. OPD is proud to be part of this critical moment in Mr. Syed's journey and we remain steadfast in our commitment to him and similarly situated individuals.

Prosecutors now say they've uncovered previously undisclosed material suggesting two other suspects would have potentially been responsible for the murder.

They asked Phinn on Monday to release Syed pending further investigation which will determine if a new trial is warranted.

"To be clear, the State is not asserting, at this time, that Mr. Syed is innocent," The Baltimore City State's Attorney's Office said when announcing their decision to seek a new trial. "While the investigation remains ongoing, when considering the totality of the circumstances, the State lacks confidence in the integrity of the conviction."

Phinn agreed, ordering Syed to be released under home detention. A new trial date has not yet been set.

RELATED: Hearing set for Monday on joint request to set Adnan Syed free

Defense attorneys claim that both of the 'alternate' suspects were known to investigators at the time Syed was charged, but they failed to disclose it.

Syed's team says one of the potential suspects previously threatened to kill and make Lee disappear. The defense adds there is documentation that may provide that person's motive. Lee's car, they say had actually been found behind the home of one of those suspect's family members.

Much of Syed’s original trial hinged on cell phone data records, which prosecutors say is flawed and no longer reliable. They are also in the process of analyzing and reviewing new DNA findings.

At the time, the state contended dozens of calls were received placing Syed at Leakin Park on the date and time of the murder.

He has long claimed to have been elsewhere at the time, despite one witness testifying that he helped Syed dig a hole for Lee's body. Prosecutors have since called that witness's credibility into question, as well as a detective who had worked on the case.

The U.S. Supreme Court and Maryland's high court have previously refused to overturn the conviction.

An attorney for Lee's family asked Phinn to postpone the hearing so that her brother in California could attend, but the judge denied the request, and instead suggested he listen in via zoom.

After a brief recess, the brother spoke to the judge virtually about what his family's had to deal with since his sister's murder.

Following the judge's ruling, City State's Attorney Marilyn Mosby again reiterated that she is not yet prepared to declare Syed innocent.

She says there is also ongoing investigation into the other potential suspects, whose names for now are being withheld.

For now, it's unclear if and when the state will convene a new jury for Syed's case to be heard again.

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