Market Newsdesk

July 16, 2021 10:00 pm

Monmouth Real Estate Investment Corporation Announces Receipt of Amendment to Unsolicited Acquisition Proposal

No Action Needs to be Taken by Monmouth Shareholders at This Time

HOLMDEL, N.J., July 16, 2021 (GLOBE NEWSWIRE) — Monmouth Real Estate Investment Corporation (NYSE: MNR, “Monmouth” or “the Company”) today announced that it received an amendment to the unsolicited acquisition proposal it previously received on July 8, 2021 from a certain large private investment firm. The amendment to the proposal reflects an increase of $0.18 per share in the consideration that would be paid for each share of Monmouth Common Stock, resulting in a net cash consideration of $18.88 per share, reflecting a stated purchase price of $19.51 per share reduced by the termination fee of approximately $62.2 million, or $0.63 per share, if Monmouth terminates the merger agreement it previously entered into with Equity Commonwealth (“EQC”) in accordance with its terms to accept the amended proposal. The increase results from the investment firm’s decision that the purchase price would no longer be reduced by the $0.18 per share dividend on Monmouth’s common stock previously declared by Monmouth’s Board on July 1, 2021 and payable on or about September 15, 2021. On July 16, 2021, Monmouth’s common shares closed at $19.23 per share.

As previously announced, on May 4, 2021, Monmouth entered into a definitive merger agreement with EQC pursuant to which EQC agreed to acquire Monmouth in an all-stock transaction valued at approximately $3.4 billion, including the assumption of debt. The combined company is expected to have a pro forma equity market capitalization of approximately $5.5 billion.

Consistent with its statutory duties and in consultation with its financial and legal advisors, Monmouth’s Board is now evaluating the amended proposal and has not made any determination as to what action to take in response to the proposal. The Company’s Board intends to respond to the proposal in due course and remains committed to acting in the best interests of the Company and its shareholders.

J.P. Morgan Securities LLC and CS Capital Advisors, LLC are acting as financial advisors and Stroock & Stroock & Lavan LLP is serving as legal advisor to Monmouth.

About Monmouth

Monmouth Real Estate Investment Corporation, founded in 1968, is one of the oldest public equity REITs in the world. The Company specializes in single tenant, net-leased industrial properties, subject to long-term leases, primarily to investment grade tenants. Monmouth Real Estate Investment Corporation is a fully integrated and self-managed real estate company, whose property portfolio consists of 120 properties containing a total of approximately 24.5 million rentable square feet, geographically diversified across 31 states. The Company’s occupancy rate as of this date is 99.7%.

Forward-Looking Statements

Some of the statements contained in this press release constitute forward-looking statements within the meaning of the federal securities laws, including, but not limited to, statements regarding the merger with EQC. Any forward-looking statements contained in this press release are intended to be made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward looking terminology such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. You can also identify forward looking statements by discussions of strategy, plans or intentions. Any forward-looking statements contained in this press release reflect Monmouth’s current views about future events and are subject to numerous known and unknown risks, uncertainties, assumptions and changes in circumstances that may cause actual results to differ significantly from those expressed in any forward looking statement. For a further discussion of other factors that could cause Monmouth’s future results to differ materially from any forward-looking statements, see the section entitled “Risk Factors” in Monmouth’s most recent Annual Report on Form 10-K and in its Quarterly Reports on Form 10-Q. While forward-looking statements reflect Monmouth’s good faith beliefs, they are not guarantees of future performance. Monmouth disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes.

Participants in the Solicitation

Monmouth and certain of its directors and executive officers and other employees may be deemed to be participants in the solicitation of proxies from Monmouth’s stockholders in connection with the proposed merger with EQC under the rules of the SEC. Investors may obtain information regarding the names, affiliations and interests of directors and executive officers of Monmouth in Monmouth’s Annual Report on Form 10-K for Monmouth’s fiscal year ended September 30, 2020, which was filed with the SEC on November 23, 2020, as well as in Monmouth’s other filings with the SEC. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement/prospectus and other relevant proxy materials filed with the SEC in respect of the proposed merger.

No Offer or Solicitation

This communication is not intended to and shall not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made, except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended.

Additional Information and Where to Find It

In connection with the proposed merger with EQC, Monmouth intends to file a proxy statement/prospectus with the U.S. Securities and Exchange Commission (“SEC”), which will be sent to the common stockholders of Monmouth seeking their approval of the proposed merger and the common stockholders of EQC seeking their approval of the issuance of EQC common stock in connection with the merger. Monmouth and EQC may also file other documents regarding the proposed merger with the SEC. This press release is not intended to be, and is not, a substitute for such filings or for any other document that Monmouth and/or EQC may file with the SEC in connection with the proposed merger. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS AND SECURITY HOLDERS ARE URGED TO CAREFULLY READ THE DEFINITIVE PROXY STATEMENT/PROSPECTUS, WHEN IT BECOMES AVAILABLE, AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT MONMOUTH, EQC, AND THE PROPOSED MERGER. Investors and security holders will be able to obtain free copies of the proxy statement/prospectus and other documents filed with the SEC by Monmouth, when they become available, through the website maintained by the SEC at www.sec.gov. In addition, investors and security holders will be able to obtain free copies of the proxy statement/prospectus and other documents filed with the SEC on Monmouth’s website at www.mreic.reit.

Contacts:

Investors

Becky Coleridge
(732) 577-9996
mreic@mr eic.com

Media

Andrew Siegel / Amy Feng / Kara Brickman
Joele Frank
(212) 355-4449

July 16, 2021 7:32 pm

Red Cat Holdings, Inc. Announces Proposed Public Offering of Common Stock

PR Newswire

HUMACAO, Puerto Rico, July 16, 2021 /PRNewswire/ — Red Cat Holdings, Inc. (NASDAQ: RCAT) (“Red Cat” or the “Company”) a technology provider to the drone industry, today announced that it intends to offer to sell shares of its common stock in an underwritten public offering. All of the shares of common stock are to be sold by the Company.

ThinkEquity, a division of Fordham Financial Management, Inc., is acting as the sole book-running manager for the offering.

The offering is subject to market conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

The Company intends to use the net proceeds from the offering primarily for general corporate purposes.

The securities will be offered and sold pursuant to a shelf registration statement on Form S-3 (File No. 333-256216), including a base prospectus, filed with the U.S. Securities and Exchange Commission (the “SEC”) on May 17, 2021 and declared effective on June 14, 2021. The offering will be made only by means of a written prospectus. A preliminary prospectus supplement and accompanying prospectus describing the terms of the offering has been or will be filed with the SEC on its website at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the offering may also be obtained, when available from the offices of ThinkEquity, a division of Fordham Financial Management, Inc., 17 State Street, 22nd Floor, New York, New York 10004, by telephone at (877) 436-3673 or by email at [email protected]. Before investing in this offering, interested parties should read in their entirety the preliminary prospectus supplement and the accompanying prospectus and the other documents that the Company has filed with the SEC that are incorporated by reference in such preliminary prospectus supplement and the accompanying prospectus, which provide more information about the Company and such offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

About Red Cat Holdings, Inc.

Red Cat provides products, services and solutions to the drone industry. Spanning multiple industries and segments, the spectrum of companies in Red Cat’s portfolio provides diverse and comprehensive reach into multiple markets including: enterprise remote flight technology; SaaS solutions for secure flight data storage; consumer hardware and communication technology; and consumer e-commerce and lifestyle brands. For more information on Annovis, please visit the company’s website: https://www.redcatholdings.com/.

Forward-Looking Statements

This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Red Cat Holdings, Inc.’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the final prospectus related to the public offering filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Red Cat Holdings, Inc. undertakes no duty to update such information except as required under applicable law.

For Investor Relations Inquiries:

Chad Kapper

Phone: (818) 906-4701
E-mail: [email protected]

View original content to download multimedia:https://www.prnewswire.com/news-releases/red-cat-holdings-inc-announces-proposed-public-offering-of-common-stock-301335926.html

SOURCE Red Cat Holdings, Inc.

July 16, 2021 7:24 pm

PPL Capital Funding, Inc. Announces the Expiration and Final Results of its Tender Offer to Purchase Certain Outstanding Debt Securities

PR Newswire

ALLENTOWN, Pa., July 16, 2021 /PRNewswire/ — PPL Capital Funding, Inc. (“PPL Capital Funding”), a wholly-owned subsidiary of PPL Corporation (NYSE: PPL), today announced the expiration and final results of the previously announced tender offers (collectively, the “Tender Offers” and each a “Tender Offer”) to purchase for cash (1) any and all of its outstanding 4.200% Senior Notes due 2022, 3.500% Senior Notes due 2022, 3.400% Senior Notes due 2023 and 3.950% Senior Notes due 2024 (collectively, the “Any and All Notes”) and (2) up to the Aggregate Maximum Purchase Price (as defined in the Offer to Purchase) of its outstanding 4.700% Senior Notes due 2043, 5.000% Senior Notes due 2044, 4.000% Senior Notes due 2047, 4.125% Senior Notes due 2030 and 3.100% Senior Notes due 2026 (collectively, the “Maximum Tender Offer Notes,” and the Maximum Tender Offer Notes together with the Any and All Notes, the “Securities”).

The Tender Offers expired at 11:59 p.m., New York City time, on July 13, 2021 (the “Expiration Date”). The terms of the Tender Offers are described in the Offer to Purchase, dated June 14, 2021, as amended by the press release dated June 23, 2021, and as further amended by the press release dated June 29, 2021 (the “Offer to Purchase”).

PPL Capital Funding accepted for purchase $1,961,603,000 aggregate principal amount of the Securities that were validly tendered and not validly withdrawn as of 5 p.m.New York City time on June 28, 2021 (the “Early Tender Date”). Settlement for such Securities occurred on June 30, 2021. Following the Early Tender Date, no additional Securities were validly tendered prior to the Expiration Date.

In accordance with the indentures governing the Any and All Notes, PPL Capital Funding redeemed all of the remaining 4.200% Senior Notes due 2022, 3.500% Senior Notes due 2022, 3.400% Senior Notes due 2023 and 3.950% Senior Notes due 2024 that were not validly tendered and accepted for purchase in the Any and All Tender Offers on July 15, 2021. PPL Capital Funding also redeemed at par all of its outstanding 5.900% 2013 Series B Junior Subordinated Rate Notes due 2073 (the “2073 Notes”) on July 15, 2021 (the “Redemption Date”) in accordance with the indenture governing the 2073 Notes. The 2073 Notes were redeemed for a redemption price equal to 100% of the principal amount of the 2073 Notes plus accrued and unpaid interest to the Redemption Date. Notices of redemption were sent by The Bank of New York Mellon Trust Company, N.A., as trustee, to all registered holders of the Notes and 2073 Notes on June 14, 2021.

J.P. Morgan Securities LLC, Barclays Capital Inc. and Morgan Stanley & Co. LLC are acting as the lead dealer managers for the Tender Offers (the “Lead Dealer Managers”) and BMO Capital Markets Corp., RBC Capital Markets, LLC, and Scotia Capital (USA) Inc. are acting as the co-dealer managers (the “Co-Dealer Managers”). The information agent and tender agent is D.F. King & Co., Inc. Copies of the Offer to Purchase and related offering materials are available by contacting D.F. King & Co., Inc. by telephone at (212) 269-5550 (for banks and brokers only) or (877) 283-0323 (for all others toll-free), or via email at [email protected]. Questions regarding the Tender Offers should be directed to J.P. Morgan Securities LLC at (212) 834-3424 (toll-free) or (866) 834-4666, Barclays Capital Inc. at (800) 438-3242 (toll-free) or (212) 528-7581 (collect), or Morgan Stanley & Co. LLC at (800) 624-1808 or (212) 761-1057. This press release shall not constitute an offer to sell, a solicitation to buy or an offer to purchase or sell any securities. The Tender Offers are being made only pursuant to the Offer to Purchase and only in such jurisdiction as is permitted under applicable law.

About PPL

PPL Corporation (NYSE:PPL), based in Allentown, Pennsylvania, is a leading U.S. energy company focused on providing electricity and natural gas safely, reliably and affordably to more than 2.5 million customers in the U.S. PPL’s high-performing, award-winning utilities are addressing energy challenges head-on by building smarter, more resilient and more dynamic power grids and advancing sustainable energy solutions. For more information, visit www.pplweb.com.

Cautionary Statement Concerning Forward-Looking Statements

Statements contained in this news release, including without limitation terms and phrases that include “anticipate,” “believe,” “intend,” “estimate,” “expect,” “continue,” “should,” “could,” “may,” “plan,” “project,” “predict,” “will,” “potential,” “forecast,” “target,” “guidance,” “outlook,” or other similar terminology, are “forward-looking statements” within the meaning of the federal securities laws. Although PPL Corporation believes that the expectations and assumptions reflected in these forward-looking statements are reasonable, these statements are subject to a number of risks and uncertainties, and actual results may differ materially from the results discussed in the statements. The following are among the important factors that could cause actual results to differ materially from the forward-looking statements:
strategic acquisitions, dispositions, or similar transactions, including the sale of our U.K. utility business and the expected acquisition of The Narragansett Electric Company, and our ability to consummate these business transactions or realize expected benefits from them; the COVID-19 pandemic or other pandemic health events or other catastrophic events, including severe weather, and their effect on financial markets, economic conditions and our businesses; weather conditions affecting customer energy usage and operating costs; significant decreases in demand for electricity in the U.S.; the effect of any business or industry restructuring; the profitability and liquidity of PPL Corporation and its subsidiaries; new accounting requirements or new interpretations or applications of existing requirements; operating performance of our facilities; the length of scheduled and unscheduled outages at our generating plants; environmental conditions and requirements, and the related costs of compliance; system conditions and operating costs; development of new projects, markets and technologies; performance of new ventures; receipt of necessary government permits, approvals, rate relief and regulatory cost recovery; capital market conditions, including interest rates, and decisions regarding capital structure; the impact of state, federal or foreign investigations applicable to PPL Corporation and its subsidiaries; the outcome of litigation involving PPL Corporation and its subsidiaries; stock price performance; the market prices of debt and equity securities and the impact on pension income and resultant cash funding requirements for defined benefit pension plans; the securities and credit ratings of PPL Corporation and its subsidiaries; political, regulatory or economic conditions in states, regions or countries where PPL Corporation or its subsidiaries conduct business, including any potential direct or indirect effects of threatened or actual cyberattack, terrorism, or war or other hostilities; new state, federal or foreign legislation or regulatory developments, including new tax legislation; and the commitments and liabilities of PPL Corporation and its subsidiaries. Any such forward-looking statements should be considered in light of such important factors and in conjunction with factors and other matters discussed in PPL Corporation’s Form 10-K and other reports on file with the Securities and Exchange Commission.

Note to Editors: Visit our media website at

www.pplnewsroom.com

for additional news about PPL Corporation.

Contacts:

For news media: Ryan Hill, 610-774-4033

For financial analysts: Andy Ludwig, 610-774-3389

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SOURCE PPL Corporation

July 16, 2021 7:03 pm

INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against DiDi Global Inc. and Encourages Investors to Contact the Firm Before September 7, 2021

INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against DiDi Global Inc. and Encourages Investors to Contact the Firm Before September 7, 2021

NEW YORK–(BUSINESS WIRE)–
The law firm of Kirby McInerney LLP reminds investors of the upcoming September 7, 2021 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired DiDi Global Inc. (“DiDi” or the “Company”) (NYSE: DIDI): (a) American Depositary Shares (“ADSs” or “shares”) pursuant and/or traceable to the registration statement and prospectus (collectively, the “Registration Statement”) issued in connection with the Company’s June 2021 initial public offering (“IPO” or the “Offering”); and/or (b) securities between June 30, 2021 and July 2, 2021, inclusive (the “Class Period”).

DiDi purports to be the world’s largest mobility technology platform. The Company claims to be the “go-to brand in China for shared mobility,” offering a range of services including ride hailing, taxi hailing, chauffeur, and hitch.

On or about June 30, 2021, DiDi sold about 316.8 million ADSs in its IPO for $14 per share, raising nearly $4.5 billion in new capital.

On July 2, 2021, the Cyberspace Administration of China (“CAC”) stated that it had launched an investigation into DiDi to protect national security and the public interest. It also reported that it had asked DiDi to stop new user registrations during the course of the investigation. On this news, the Company’s ADS price declined by $0.87 per ADS, or approximately 5.3%, from $16.40 per ADS on July 1, 2021 to close at $15.53 per ADS on July 2, 2021.

Then, on Sunday, July 4, 2021, DiDi reported that the CAC ordered smartphone app stores to stop offering the “DiDi Chuxing” app because it “collect[ed] personal information in violation of relevant PRC laws and regulations.” Though users who previously downloaded the app could continue to use it, DiDi stated that “the app takedown may have an adverse impact on its revenue in China.”

On July 5, 2021, The Wall Street Journal reported that the CAC had asked the Company as early as three months prior to the IPO to postpone the offering because of national security concerns and to “conduct a thorough self-examination of its network security.” On this news, the Company’s ADS declined by $3.04 per ADS, or approximately 19.6%, from $15.53 per ADS on July 2, 2021, to close at $12.49 per ADS on July 6, 2021.

The lawsuit alleges that the Registration Statement was materially false and misleading and omitted to state material adverse facts. Throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that DiDi’s apps did not comply with applicable laws and regulations governing privacy protection and the collection of personal information; (2) that, as a result, the Company was reasonably likely to incur scrutiny from the CAC; (3) that the CAC had already warned DiDi to delay its IPO to conduct a self-examination of its network security; (4) that, as a result of the foregoing, DiDi’s apps were reasonably likely to be taken down from app stores in China, which would have an adverse effect on its financial results and operations; and (5) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

If you purchased or otherwise acquired DiDi ADSs, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at [email protected], or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.

Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: http://www.kmllp.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210716005478/en/

Kirby McInerney LLP

Thomas W. Elrod, Esq.

212-371-6600

https://www.kmllp.com

[email protected]

KEYWORDS: China United States North America Asia Pacific New York

INDUSTRY KEYWORDS: Legal Professional Services

MEDIA:

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July 16, 2021 7:03 pm

INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against 360 DigiTech, Inc. and Encourages Investors to Contact the Firm Before September 13, 2021

INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against 360 DigiTech, Inc. and Encourages Investors to Contact the Firm Before September 13, 2021

NEW YORK–(BUSINESS WIRE)–
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of those who acquired 360 DigiTech, Inc. (“360 DigiTech” or the “Company”) (NASDAQ: QFIN) securities from April 30, 2020 through July 7, 2021, inclusive (the “Class Period”). Investors have until September 13, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

360 DigiTech, through its subsidiaries, operates a digital consumer finance platform under the 360 Jietiao brand in the People’s Republic of China (“PRC”). Its platform provides online consumer finance products to the borrowers funded by institutional funding partners. The Company also provides incremental credit assessment, collection, and other services, as well as guarantee for defaulted loans. The Company was formerly known as 360 Finance, Inc. and changed its name to 360 DigiTech, Inc. in September 2020.

On July 8, 2021, reports circulated on social media to the effect that the Company’s core product, the 360 IOU app, had been removed from major app stores. The reports came on the heels of the removal of other companies’ apps as Chinese regulators investigated their customer data protection practices. On this news, 360 DigiTech’s stock price declined by $7.12 per share, or approximately 21.48%, from $33.14 per share to close at $26.02 per share on July 8, 2021.

Then, on July 9, 2021, Seeking Alpha reported that 360 DigiTech confirmed the removal of its 360 IOU app from the Android app store and quoted a Company spokesperson, who disclosed that the Company had “submitted a new rectification plan and stepped up the whole process.”

The lawsuit alleges throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company had been collecting personal information in violation of relevant PRC laws and regulations; (ii) accordingly, 360 DigiTech was exposed to an increased risk of regulatory scrutiny and/or enforcement action; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.

If you purchased or otherwise acquired 360 DigiTech securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at [email protected], or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210716005474/en/

Kirby McInerney LLP

Thomas W. Elrod, Esq.

212-371-6600

https://www.kmllp.com

[email protected]

KEYWORDS: United States North America New York

INDUSTRY KEYWORDS: Legal Professional Services

MEDIA:

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July 16, 2021 7:03 pm

INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That Class Action Lawsuits Have Been Filed Against Athira Pharma, Inc. and Encourages Investors to Contact the Firm Before August 24, 2021

INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That Class Action Lawsuits Have Been Filed Against Athira Pharma, Inc. and Encourages Investors to Contact the Firm Before August 24, 2021

NEW YORK–(BUSINESS WIRE)–
The law firm of Kirby McInerney LLP reminds investors that securities fraud class action lawsuits have been filed in the United States District Court for the Western District of Washington against Athira Pharma, Inc. (NASDAQ: ATHA) (“Athira” or the “Company”) on behalf of those who purchased or acquired Athira common stock: (a) pursuant and/or traceable to the registration statement and prospectus (collectively, the “Registration Statement”) issued in connection with Athira’s September 2020 initial public offering (“IPO”); and/or (b) between September 18, 2020 and June 17, 2021, inclusive (the “Class Period”). Investors have until August 24, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuits.

In September 2020, the Company closed its initial public offering, in which the Company sold and issued 12,000,000 shares of common stock at a price to the public of $17.00 per share. In January 2021, the Company completed a follow-on public offering of its common stock. As part of the follow-on offering, the Company issued and sold 4,000,000 shares of its common stock at a public offering price of $22.50 per share.

On June 17, 2021, Athira issued a press release announcing that the Company’s Chief Operating Officer had “assumed day-to-day leadership responsibilities for the Company, effective immediately.” The Company further disclosed that the Board of Directors placed the President and Chief Executive Officer Leen Kawas (“Kawas”), “on temporary leave pending a review of actions stemming from doctoral research [the CEO] conducted while at Washington State University.” The Company also disclosed that the “Board has formed an independent special committee to undertake this review.” On this news, Athira’s share price declined by $7.09 per share, or approximately 38.9%, from $18.24 per share to close at $11.15 per share on June 18, 2021.

The lawsuits allege that Defendants made materially false and misleading statements and omitted material adverse facts regarding the Company’s business. Specifically, Defendants failed to disclose to investors: (1) that the research conducted by Kawas, which formed the foundation for Athira’s product candidates and intellectual property, was tainted by Kawas’ scientific misconduct, including the manipulation of key data; and (2) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and omitted material facts necessary in order to make the statements made not misleading.

If you purchased or otherwise acquired Athira securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at [email protected], or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210716005473/en/

Kirby McInerney LLP

Thomas W. Elrod, Esq.

212-371-6600

https://www.kmllp.com

[email protected]

KEYWORDS: United States North America Washington New York

INDUSTRY KEYWORDS: Legal Professional Services

MEDIA:

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July 16, 2021 7:03 pm

INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against Full Truck Alliance Co. Ltd. and Encourages Investors to Contact the Firm Before September 10, 2021

INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against Full Truck Alliance Co. Ltd. and Encourages Investors to Contact the Firm Before September 10, 2021

NEW YORK–(BUSINESS WIRE)–
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of New York on behalf of those who acquired Full Truck Alliance Co. Ltd. (“FTA” or the “Company”) (NYSE: YMM) American Depositary Shares (“ADSs”) from June 19, 2021 through July 12, 2021, inclusive (the “Class Period”). Investors have until September 10, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

On or about June 22, 2021, FTA sold about 82.5 million ADSs in its initial public offering (the “IPO”) for $19 per share, raising nearly $1.6 billion in new capital.

On July 5, 2021, FTA reported that the Company was subject to a review by the Cyberspace Administration of China and that “FTA’s Yunmanman apps and Huochebang apps . . . are required to suspend new user registration in China during the review period.”

On this news, the Company’s ADS price declined by $1.27 per ADS, or approximately 6.7%, from $19.02 per ADS on July 2, 2021 to close at $17.75 per ADS on July 6, 2021, which is approximately 6.6% below the IPO price, thereby injuring investors.

If you purchased or otherwise acquired FTA ADSs, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at [email protected], or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210716005472/en/

Kirby McInerney LLP

Thomas W. Elrod, Esq.

212-371-6600

https://www.kmllp.com

[email protected]

KEYWORDS: United States North America New York

INDUSTRY KEYWORDS: Legal Professional Services

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July 16, 2021 7:03 pm

INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against Frequency Therapeutics, Inc. and Encourages Investors to Contact the Firm Before August 2, 2021

INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against Frequency Therapeutics, Inc. and Encourages Investors to Contact the Firm Before August 2, 2021

NEW YORK–(BUSINESS WIRE)–
The law firm of Kirby McInerney LLP announces that a securities class action lawsuit has been filed in the U.S. District Court for the District of Massachusetts on behalf of those who acquired Frequency Therapeutics, Inc. (“Frequency” or the “Company”) (NASDAQ: FREQ) securities from November 16, 2020 through March 22, 2021, inclusive (the “Class Period”). Investors have until August 2, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

Frequency is a Massachusetts-based pharmaceutical company focused on the development of treatments for hearing loss, including its drug “FX-322.” Frequency has conducted several clinical studies evaluating the safety and effectiveness of FX-322, the most significant of which was a Phase 2a study that began in October 2019.

In April 2020, Frequency’s Chief Executive Officer (“CEO”), David L. Lucchino, began selling his shares of Frequency, totaling over 350,000 shares sold and earning over $10.5 million.

On March 23, 2021, before the market opened, Frequency disclosed in a press release disappointing interim results of the Phase 2a study, revealing that subjects who had mild to moderate sensorineural hearing loss did not demonstrate improvements in hearing measures versus placebo. On this news, Frequency’s stock price declined by $28.30 per share, or approximately 78%, from $36.29 per share to close at $7.99 per share on March 23, 2021, thereby damaging investors.

If you purchased or otherwise acquired Frequency securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at [email protected], or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210716005469/en/

Kirby McInerney LLP

Thomas W. Elrod, Esq.

212-371-6600

https://www.kmllp.com

[email protected]

KEYWORDS: United States North America New York

INDUSTRY KEYWORDS: Legal Professional Services

MEDIA:

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July 16, 2021 7:03 pm

INVESTOR ALERT: Kirby McInerney LLP Announces the Filing of a Securities Class Action Lawsuit Against James River Group Holdings, Ltd.

INVESTOR ALERT: Kirby McInerney LLP Announces the Filing of a Securities Class Action Lawsuit Against James River Group Holdings, Ltd.

NEW YORK–(BUSINESS WIRE)–
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of Virginia on behalf of those who acquired James River Group Holdings, Ltd. (“James River” or the “Company”) (NASDAQ: JRVR) common stock from August 1, 2019 through May 5, 2021, inclusive (the “Class Period”). Investors have until September 7, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

On October 8, 2019, after the market closed, James River disclosed it had delivered a notice of early cancellation of all policies issued to its largest customer, Rasier LLC, a subsidiary of Uber. On this news, James River’s stock price declined by $11.06 per share, or approximately 22.6% from $48.94 per share to close at $37.88 per share on October 9, 2021.

On May 5, 2021, the Company announced its first quarter 2021 financial results, reporting $170 million of “unfavorable development in Commercial Auto, primarily driven by a previously canceled account that has been in runoff since 2019.” On this news, James River’s stock price declined by $12.27 per share, or approximately 26.39%, from $46.50 per share to close at $34.23 per share on May 6, 2021.

The lawsuit alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) James River had not adequately reserved for its Uber policies; (2) James River was using an incorrect methodology for setting reserves that materially understated its true exposure to Uber claims; (3) as a result, the Company was forced to increase its unfavorable reserves in subsequent quarters, even after cancelling the Uber policies; and (4) as a result of the foregoing, Defendants’ statements about James River’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.

If you purchased or otherwise acquired James River common stock, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at [email protected], or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210716005485/en/

Kirby McInerney LLP

Thomas W. Elrod, Esq.

212-371-6600

https://www.kmllp.com

[email protected]

KEYWORDS: United States North America New York

INDUSTRY KEYWORDS: Legal Professional Services

MEDIA:

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July 16, 2021 7:03 pm

INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against CarLotz, Inc. and Encourages Investors to Contact the Firm Before September 7, 2021

INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against CarLotz, Inc. and Encourages Investors to Contact the Firm Before September 7, 2021

NEW YORK–(BUSINESS WIRE)–
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of those who acquired CarLotz, Inc. (“CarLotz” or the “Company”) (NASDAQ: LOTZ) securities from December 30, 2020 through May 25, 2021, inclusive (the “Class Period”). Investors have until September 7, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

On March 15, 2021, CarLotz announced its fourth quarter and full year 2020 financial results. During a related conference call, the Company stated that gross profit and gross profit per unit (“GPU”) “were softer than . . . expected” due to “the surge in inventory during the quarter and the resulting lower retail unit profitability.” CarLotz also reported that the additional inventory “created a logjam that resulted in slower processing and higher days to sell.” On this news, the Company’s stock price declined by $0.79 per share, or approximately 8.5%, from $9.24 per share to close at $8.45 per share on March 16, 2021.

Then, on May 10, 2021, after the market closed, CarLotz announced its first quarter 2021 financial results revealing that the GPU fell below expectations. In particular, the Company had expected retail GPU between $1,300 and $1,500 but reported $1,182. On this news, the Company’s stock price declined by $0.94 per share, or approximately 14.4%, from $6.51 per share to close at $5.57 per share on May 11, 2021.

Then, on May 26, 2021, before the market opened, CarLotz announced an update to its profit-sharing sourcing partner arrangement. Specifically, CarLotz stated that its “profit-sharing corporate vehicle sourcing partner informed the Company that, in light of current wholesale market conditions, it has paused consignments to the Company.” Moreover, this partner “accounted for more than 60% of the cars sold and sourced” during first quarter 2021 and “less than 50% of the cars sold and approximately 25% of cars sourced” during second quarter 2021 to date. On this news, the Company’s stock price declined by $0.70 per share, or approximately 13.4%, from $5.21 per share to close at $4.51 per share on May 26, 2021.

The lawsuit alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants made material misrepresentations concerning the following: (1) that, due to a surge in inventory during the second half of fiscal 2020, CarLotz was experiencing a “logjam” resulting in slower processing and higher days to sell; (2) that, as a result, the Company’s GPU would be negatively impacted; (3) that, to minimize returns to the corporate vehicle sourcing partner responsible for more than 60% of CarLotz’s inventory, the Company was offering aggressive pricing; (4) that, as a result, CarLotz’s GPU forecast was likely inflated; (5) that this Company’s corporate vehicle sourcing partner would likely pause consignments to the Company due to market conditions, including increasing wholesale prices; and (6) as a result, Defendants’ statements about its business, operations, and prospects were materially false and misleading and/or lacked reasonable basis at all relevant times.

If you purchased or otherwise acquired CarLotz securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at [email protected], or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210716005481/en/

Kirby McInerney LLP

Thomas W. Elrod, Esq.

212-371-6600

https://www.kmllp.com

[email protected]

KEYWORDS: United States North America New York

INDUSTRY KEYWORDS: Legal Professional Services

MEDIA:

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