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CytRx Issues Statement Regarding U.S. Regulatory Review of Arimoclomol for Niemann-Pick Disease Type C

CytRx Issues Statement Regarding U.S. Regulatory Review of Arimoclomol for Niemann-Pick Disease Type C

LOS ANGELES–(BUSINESS WIRE)–
CytRx Corporation (OTCQB: CYTR) (“CytRx” or the “Company”), a specialized biopharmaceutical company focused on research and development for the oncology and neurodegenerative disease categories, today provided an update on the U.S. Food and Drug Administration’s (“FDA”) review of Orphazyme A/S’s (NASDAQ: ORPH) (“Orphazyme”) New Drug Application (“NDA”) for arimoclomol to treat Niemann-Pick Disease Type C (“NPC”). According to Orphazyme, the FDA has extended the review period with a standard extension of three months in order to complete the NDA review. The updated Prescription Drug User Fee Act (“PDUFA”) target action date is June 17, 2021.

Orphazyme disclosed that the FDA has confirmed that the NDA remains under Priority Review. The FDA grants Priority Review to applications for potential therapies that, if approved, could offer a significant improvement in safety or effectiveness, diagnosis, or prevention of serious conditions. Notably, the FDA has confirmed that the extension does not impede eligibility for a Pediatric Rare Disease Priority Review Voucher.

Arimoclomol previously received the FDA’s Fast-Track and Breakthrough Therapy Designations for NPC as well as Orphan Drug and Rare Pediatric Disease Designations. If approved in the U.S., arimoclomol will be the first and only approved medicine for NPC. In November 2020, Orphazyme also submitted a Marketing Authorisation Application to the European Medicines Agency for arimoclomol to treat NPC.

Orphazyme’s U.S. President issued the following statement on December 27, 2020:

“Orphazyme is working closely with the FDA to support the final review of the new drug application for arimoclomol. There is significant unmet medical need for the treatment of NPC, and we are committed to bringing arimoclomol to patients in the U.S. and Europe as soon as possible.”

Orphazyme’s Chief Medical Officer added:

“We have responded to all FDA information requests and submitted all outstanding information regarding the arimoclomol NDA for NPC. The Phase 3 trials for Amyotrophic Lateral Sclerosis and Inclusion Body Myositis remain on track for read-out in the first half of 2021 and we look forward to providing an update on our progress.”

Steven A. Kriegsman, Chairman and Chief Executive Officer of CytRx, commented:

“We believe Orphazyme has taken a number of important steps in 2020 ahead of potential commercialization of arimoclomol for NPC upon prospective FDA approval during the first half of 2021. Orphazyme has strengthened its financial position through a successful capital raise and subsequently established a strong U.S. footprint with new headquarters in Chicago and the addition of more than 30 employees. In our view, Orphazyme is well positioned for future distribution and expanded engagement with providers, patients, regulators and the clinical testing community in 2021. It is also noteworthy that next year, Orphazyme may receive a response to its submission for regulatory approval in Europe for arimoclomol to treat NPC.”

We will continue to provide updates that are relevant to our agreement with Orphazyme.

About CytRx Corporation

CytRx Corporation (OTCQB: CYTR) is a biopharmaceutical company with expertise in discovering and developing new therapeutics principally to treat patients with cancer and neurodegenerative diseases. CytRx’s drug candidate, arimoclomol, was sold to Orphazyme A/S (Nasdaq Copenhagen exchange: ORPHA.CO) in exchange for milestone payments and royalties. Orphazyme is developing arimoclomol in four indications including Amyotrophic Lateral Sclerosis (“ALS”), Niemann-Pick disease Type C (“NPC”), Gaucher disease and sporadic Inclusion Body Myositis (“sIBM”). Learn more at www.cytrx.com.

About Orphazyme

Orphazyme is a biopharmaceutical company focused on bringing novel treatments to patients living with life threatening or debilitating rare diseases. Their research focuses on developing therapies for diseases caused by misfolding of proteins including lysosomal storage diseases. Arimoclomol, the company’s lead candidate, is in clinical development for four orphan diseases: Niemann-Pick disease Type C, Gaucher disease, sporadic Inclusion Body Myositis, and Amyotrophic Lateral Sclerosis. Orphazyme is headquartered in Denmark and has operations in the U.S. and Switzerland. Orphazyme shares are listed on Nasdaq (ORPHA). For more information, please visit www.orphazyme.com.

Forward-Looking Statements

This press release contains forward-looking statements, including statements relating to the potential receipt of EMA and FDA approval of arimoclomol, the Company’s potential receipt of future milestone and royalty payments from Orphazyme and the achievement of long-term value for the Company’s stockholders. Such statements involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements, including risks and uncertainties relating to the ability of Orphazyme to obtain regulatory approval for, manufacture and commercialize its products and therapies that use arimoclomol; the results of clinical trials involving arimoclomol; the amount, if any, of future milestone and royalty payments that we may receive from Orphazyme; and other risks and uncertainties described in the most recent annual and quarterly reports filed by the Company with the SEC and current reports filed since the date of the Company’s most recent annual report. All forward-looking statements are based upon information available to the Company on the date the statements are first published. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For Investors:

Greg Marose / Charlotte Kiaie

[email protected]

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Oncology FDA Health Clinical Trials Pharmaceutical Biotechnology

MEDIA:

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Leading Proxy Advisory Firms, Institutional Shareholder Services and Glass Lewis, Recommend That Shareholders Vote AGAINST Elazar Rabbani at Enzo’s Upcoming Annual Meeting

Evermore – One of Enzo’s Largest Shareholders – Expresses Support for Roumell’s Campaign for Immediate Board Change

Roumell Will Continue to Solicit Support to Elect Matt Loar and Ed Terino to the Board

VOTE ON ROUMELL’S GREEN PROXY CARD BY PHONE OR INTERNET TODAY!!!

PR Newswire

CHEVY CHASE, Md., Dec. 31, 2020 /PRNewswire/ — Roumell Asset Management, LLC (“Roumell”), which owns 5.78% of the outstanding shares of common stock of Enzo Biochem, Inc. (NYSE: ENZ) (“Enzo” or “the Company”), today acknowledged that each of Institutional Shareholder Services Inc. (“ISS”) and Glass Lewis & Co., LLC (“Glass Lewis”), the world’s leading proxy advisory firms, have recognized the need for change to the status quo in Enzo’s boardroom by recommending against the re-election of Enzo Chairman and co-founder, Elazar Rabbani, Ph.D., to the board of directors (the “Board”) at the upcoming annual meeting of shareholders to be held on January 4, 2021 (the “Annual Meeting”).


ISS and Glass Lewis Agree that Shareholders Should Vote Against Dr. Rabbani’s Re-Election

Roumell is pleased that ISS and Glass Lewis agree that shareholders should not vote to re-elect Dr. Rabbani to the Board. Shareholders should carefully review the voting recommendation reports by ISS and Glass Lewis. Among many criticisms of the Company made by the proxy advisors, Roumell particularly agrees with ISS’ contention that one reason shareholders should vote against Dr. Rabbani’s re-election is the “[C]ompany’s lack of responsiveness to last year’s low say-on-pay votes” and lack of “disclosure around shareholder feedback on pay programs … and the specific actions taken to address those concerns.” Roumell also highlights the following important statements by Glass Lewis in its voting recommendation report:1

Glass Lewis:

“[…] the hallmarks of the [B]oard’s regressive methodologies remain, in our view, disconcertingly evident, from a muddled representation of refreshment to plainly questionable management of compensation programs to seemingly inflexible reverie for Elazar Rabbani, a chairman and CEO who still cannot be bothered to participate in calls with the Company’s owners and investment community […]” (emphasis added).

“We would again emphasize our general view that [Roumell] has otherwise presented sufficient cause to suggest shareholders would benefit from the replacement of certain incumbent candidates, including Dr. Rabbani, in lieu of maintaining a status quo which continues to lean on, in our view, regressive governance protocols to deflect investor feedback fueled, in no small part, by Enzo’s dismal returns profile” (emphases added).


Evermore Global Advisors, LLC (“Evermore”) Supports Roumell’s Campaign for Immediate Change

2

During the past few weeks, Roumell has been privileged to engage with many of Enzo’s shareholders.  Among them was Evermore, one of the Company’s largest shareholders, which has expressed support for Roumell’s campaign.  Roumell also notes that the Company’s largest shareholder, Harbert Fund Advisors Inc., has already publicly acknowledged its well-founded frustration with the Company, the Board and management.3 Roumell believes that the positions of two of the Company’s five largest shareholders speak volumes.  

Roumell will continue its campaign for the election of its highly-qualified independent candidates, Matthew M. Loar and Edward Terino, to the Board at the Annual Meeting.  Each is a seasoned public-company executive with significant public board experience, who will, if elected, help to right the ship for all Enzo shareholders.  

Roumell intends to take all actions necessary to compel the Board to honor Matt’s and Ed’s nominations, as well as all proxies Roumell receives from shareholders on the GREEN proxy card.  Shareholders should be on high-alert for any last-minute entrenchment efforts by the Board to thwart the ground-swelling support for change and removal of Dr. Rabbani.

Roumell urges shareholders to bring positive change to Enzo
by voting on the GREEN proxy card.

Shareholders may only vote for Roumell’s candidates by phone or internet, and will not be permitted to vote for Roumell’s candidates virtually during the Annual Meeting. All votes must be cast by 11:59 PM ET on Sunday, January 3, 2021. Should you have any questions or need assistance with voting, please contact Saratoga Proxy Consulting LLC at (888) 368-0379 or (212) 257-1311 or by email at [email protected].

Contacts

Saratoga Proxy Consulting LLC
John Ferguson / Joe Mills, 212-257-1311
[email protected] / [email protected]

Important Additional Information

Roumell Asset Management, LLC, Matthew M. Loar, James C. Roumell and Edward Terino (collectively, the “Participants”), have filed with the Securities and Exchange Commission (the “SEC”) a definitive proxy statement and accompanying GREEN proxy card to be used in connection with the solicitation of proxies from the shareholders of the Company. The Participants strongly advise all shareholders of the Company to read the definitive proxy statement, accompanying GREEN proxy card and other proxy materials filed by Roumell Asset Management, LLC, as they contain important information. Such proxy materials are available at no charge on the SEC’s website at http://www.sec.gov. In addition, the participants in this proxy solicitation will provide copies of the proxy statement without charge upon request. Requests for hard copies should be directed to the Participants’ proxy solicitor, Saratoga Proxy Consulting LLC at (888) 368-0379 or (212) 257-1311 or by email at [email protected].

As of the date hereof, Roumell Asset Management, LLC beneficially owns 2,769,479 shares of common stock, $0.01 par value per share (the “Common Stock”) of the Company. Mr. Roumell, as the President of Roumell Asset Management, LLC, may be deemed the beneficial owner of the 2,769,479 shares of Common Stock beneficially owned by Roumell Asset Management, LLC. As of the date hereof, neither of Messrs. Loar or Terino own any shares of Common Stock.

The views expressed herein represent the opinions of the Participants and are based on publicly available information with respect to the Company.


1 Permission to quote from the ISS and Glass Lewis reports was neither sought nor obtained.


2 References to Evermore, and its support of Roumell’s campaign are used with permission.


3 Harbert called for the removal of Dr. Rabbani at the 2019 annual meeting of shareholders, and on December 30, 2020, sent a letter to the Board’s newly appointed directors, urging the resignation of Dr. Rabbani as director and CEO. The letter is available at https://www.sec.gov/Archives/edgar/data/316253/000090266420004371/p20-2230exhibit99.htm  

 

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SOURCE Roumell Asset Management, LLC

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Indiana State Senator Eddie Melton Announces Aggressive 2021 Legislative Agenda

INDIANAPOLIS, Dec. 31, 2020 (GLOBE NEWSWIRE) — State Senator Eddie Melton (D-Gary) announced his aggressive legislative agenda for the 2021 legislative session.

“This year, Hoosiers are dealing with an unprecedented number of issues,” Sen. Melton said.

“While a great deal of our residents’ struggles are directly tied to the impacts of the coronavirus pandemic, many of the struggles Hoosiers are facing predate this virus. This pandemic has merely worsened the problems of many, while exposing to others the deep cracks in several of our state’s institutions.”

“My 2021 legislative agenda is a direct response to the calls of residents who are looking for meaningful and fundamental change. We have a difficult session ahead, but I’m looking forward to working on behalf of all Hoosiers in my new role as Assistant Minority Leader for the Indiana Senate Democratic Caucus.”

Sen. Melton’s legislative agenda and focuses highlight four areas: justice reform, public health, pandemic relief and economic growth and development in Northwest Indiana.

Areas of Importance in 2021:

Protect the health and safety of workers:

“There is an aggressive push by Republican legislators to protect businesses from potential COVID-19 lawsuits. This is a blow to essential workers who have risked their lives to keep our economy open, and I want to ensure that all workers are protected from employers that are negligent with their workers’ health and safety.”

Protect public education funding:

“Earlier this year public schools were threatened that they would only receive 85% of their state funding because they were forced to go virtual due to the pandemic. As the Ranking Minority Member on the Appropriations Committee, I will fight for full funding for our public schools and advocate for reforming our existing funding formula to reflect the growing need for our schools.”

Justice Reform:

“After the death of George Floyd and Breanna Taylor, and even deaths at the hands of police in our own state, we heard loud and clear from citizens that they demand reform in our justice system. I will be filing legislation to ban the use of chokeholds and no-knock warrants. The Indiana Black Legislative Caucus will file a series of bills to address our current system as it is today.”

Public Health Reform:

“Indiana has one of the worst public health rankings in the country and many Hoosiers continue to struggle with the rising cost of life saving medication like insulin. In 2009, a 30-day supply of insulin was around $93; in 2019, the average cost of a 30-day supply of insulin was $275. It’s astronomical and I will fight to cap the copay of insulin to make it more affordable for Hoosiers. It will also be a priority to end implicit bias that exists in our healthcare system for women and black women in particular. The news stories of deaths of African American women in our local healthcare systems shows how much work we have to do. That’s why I’m filing legislation to require implicit bias training among healthcare professionals.”

Pandemic Relief for individuals and small businesses:

“Individuals and small businesses everywhere have been impacted by the pandemic economically. My pandemic relief focus seeks to address several of the issues brought on and exacerbated by this virus, including livable wages and assistance for small businesses. We must acknowledge that many of our essential workers are paid low wages and that our neighbors and local businesses are struggling. This is why we must raise the minimum wage, offer renter protection and provide tax relief for small businesses.”

Provide support for our local municipalities:

“The new stimulus bill that congress passed provided no support for local cities and towns that have been on the front lines of addressing local crises caused by the pandemic. Through my property tax amnesty bill and other policy proposals, I will be working to provide my district with economic tools to address their fiscal shortfall due to COVID-19. In an effort to strengthen the Gary school corporation, I’ll be seeking a charter school moratorium within the city limits to allow the district to address its fiscal needs and promote growth in its student population.”

Related Posts

Senate Democrats Media Office

200 W. Washington Street
Indianapolis, IN 46204

FOR MORE INFORATION, CONTACT:

Taroue Brooks


[email protected]


202-431-1119

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7a88c663-a1a3-4411-9c8e-29cf92439bde



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Ponce De Leon Foundation Announces Grant Awards

BRONX, N.Y., Dec. 31, 2020 (GLOBE NEWSWIRE) — The Board of Directors of the Ponce De Leon Foundation is pleased to announce it has awarded a total amount of $375,000 to nonprofits that are making a difference in our communities. Since its inception in 2017, the Foundation has granted over $1 million in grants.

Madeline V. Marquez, Executive Director of the Ponce De Leon Foundation, stated, “We are honored to support these organizations during the challenging times of COVID-19.” Carlos P. Naudon, President and Director of the Ponce De Leon Foundation, stated, “COVID-19 has proven that non-profits are ever so important in the well-being of our communities.” Steven A. Tsavaris, Chairman of the Ponce De Leon Foundation, stated, “The way our communities have pulled together and our non-profits stepped up to help has been the silver lining during these difficult times and I am excited to be a part of the Ponce De Leon Foundation which strives to help non-profits support the communities we serve.”

Act Now Foundation, Inc.:
$10,000 for the Alzheimer’s Care Project – “Aging in Place” Project.

Ali Forney Center, Inc.: $25,000 for the Financial Literacy Training for Homeless LGBTQ Youth Project.

Andromeda Community Initiative, Inc.: $20,000 for the Masonry Restoration Project.

Council for Unity Inc.: $15,000 for The Council for Unity “Dragon Slayer” Expansion Project.

Daniel’s Music Foundation: $10,000 for the DMF Virtual Community Project.

Family Life Academy Charter Schools.: $25,000 for the FLACS K-2 Home Library Project.

Jersey City Connections, Inc.: $20,000 for the Pride Assists Project.

Little Sisters of the Assumption Family Health Service: $20,000 for the Integrated Case Management Services Project.

My Time, Inc.: $20,000 for the “Me Time” A Social/Recreational Program.

Neighborhood SHOPP, Inc.: $30,000 for the SHOPP Senior Virtual Connections Initiatives Project.

New York Women’s Chamber of Commerce, Inc.: $25,000 for the Financial Management and Loan Readiness Program for Small Businesses Project.

Per Scholas, Inc.: $25,000 for the 1,000 Careers in Tech Project.

Sapna NYC, Inc.: $20,000 for the Sapna NYC COVID Community Response Project.

Save Latin America, Inc.: $20,000 for the SLA – Diabetes Outreach Campaign.

Spanish Speaking Elderly Council RAICES, Inc.: $25,000 for the Raices Pilot Telemental Health Program.

The Forum for Urban Design: $25,000 for the Neighborhoods Now Project.

The Point Community Development Corporation, Inc.: $10,000 for the Blank Plate Empowered Meals Project.

Upper Manhattan Empowerment Zone Development Corp.: $20,000 for the Business Resources Investment Services Center Project.

Union City Music Project, Inc.: $10,000 for the After School Orchestral Music Foundation Program.

About the Ponce De Leon Foundation: Ponce De Leon Foundation is a private 501(c)3 charitable corporation launched in 2017 with a generous gift of stock and cash from Ponce Bank, when the Bank was converted to mutual holding company. Ponce De Leon Foundation’s mission is to improve the quality of life in the communities in which Ponce Bank maintains full-service branches. With this gift, Ponce Bank made clear its commitment to continue its tradition of supporting the communities it serves. For further information on the Ponce De Leon Foundation you can send an email to [email protected].

About Ponce Bank: Ponce Bank is a subsidiary of PDL Community Bancorp, a NASDAQ company trading under the symbol PDLB. Ponce Bank is a federally chartered stock savings association headquartered in the Bronx, New York. The Bank’s business is conducted through the administrative office and 13 branch banking offices. The banking offices are located in the Bronx (4 branches), Manhattan (2 branches), Queens (3 branches) and Brooklyn (3 branches), New York and Union City (1 branch), New Jersey. The primary market area currently consists of the New York City metropolitan area. www.poncebank.com (718) 931-9000.



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Covia Successfully Completes Financial Restructuring and Emerges from Chapter 11

  • Reduced obligations by over $1 billion
  • Improved operational flexibility to better serve customers and other stakeholders
  • Strengthened competitive position of high-quality assets
  • Emerges with approximately $175 million of total liquidity

INDEPENDENCE, Ohio, Dec. 31, 2020 (GLOBE NEWSWIRE) — Covia today announced that it has successfully completed its financial restructuring and emerged from Chapter 11. Through the restructuring, Covia has reduced its long-term debt by approximately $750 million and its fixed costs, including railcar obligations, by an additional $300 million.

“Today marks a new beginning for Covia. Through this reorganization process, we emerge as a stronger company that will better serve our customers and other stakeholders with a sustainable capital structure and improved operational flexibility,” said Richard Navarre, Chief Executive Officer and President. “Many thanks go to our employees, customers, vendors and lenders, all of whom played important roles in creating a stronger Covia.”

Mr. Navarre added, “Covia’s diversified mineral solutions and services will continue to be critical inputs in products that are important parts of everyday life. By emerging as a more streamlined organization backed by owners with strong financial resources and expertise in the industrial minerals space, we have improved our ability to accelerate growth in our higher-margin industrial segment and be the low-cost provider to our customers. We are confident that we are emerging from this process positioned for long-term success.”

Following emergence from the restructuring, the Company’s strengthened capital structure consists of:

  • Approximately $175 million in total liquidity consisting of $105 million in cash and $70 million of availability under a $135 million asset-based lending facility expected to mature in December 2025 and provided by PNC Bank, N.A.; and
  • An $806 million term loan B maturing in July 2026.

Kirkland & Ellis LLP, PJT Partners, LP and AlixPartners, LLP advised the Company throughout this reorganization.

Additional Information

Additional information about Covia’s restructuring is available on the website of the Company’s claims and noticing agent, Prime Clerk LLC, at https://cases.primeclerk.com/Covia. The Company has also established a call center for questions: 877-606-3610 if calling from within the U.S. or Canada, or 929-955-3452 if calling from outside the U.S. or Canada.

About Covia

Covia is a leading provider of diversified mineral solutions to the oil and gas, glass, ceramics, coatings, metals, foundry, polymers, construction, water filtration, sports and recreation markets. The Company serves its Industrial customers through a broad array of high-quality products, including high-purity silica sand, nepheline syenite, feldspar, clay, kaolin, resin systems and coated materials, delivered through its comprehensive distribution network. Covia offers its Energy customers an unparalleled selection of proppant solutions, additives, and coated products to enhance well productivity and to address both surface and down-hole challenges in all well environments. Covia has built long-standing relationships with a broad customer base consisting of blue-chip customers. Underpinning these strengths is an unwavering commitment to safety and to sustainable development, further enhancing the value that Covia delivers to all of its stakeholders. For more information, visit CoviaCorp.com.

Forward Looking Statements

This communication contains forward-looking statements. Forward-looking statements generally may be identified by the use of terms such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “project,” “continue” or other similar words. Forward-looking statements are not historical facts and involve inherent risks and uncertainties. Several factors may cause actual results to differ materially from those contained in any forward-looking statement. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date thereof. The Company undertakes no obligation to update forward-looking statements, whether as a result of new information, future events or otherwise.

Covia contact:

Matthew Schlarb
440-214-3284
[email protected]



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SHAREHOLDER ALERT: WeissLaw LLP Investigates Fintech Acquisition Corp. IV

PR Newswire

NEW YORK, Dec. 31, 2020 /PRNewswire/ — WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Fintech Acquisition Corp. IV (“FTIV” or the “Company”) (NASDAQ: FTIV) in connection with the Company’s proposed merger with Perella Weinberg Partners (“Perella”), a privately-held investment bank.  Under the terms of the merger agreement, FTIV will acquire Perella through a reverse merger that will result in Perella becoming a public company traded on the Nasdaq under the ticker symbol “PWP.”  The transaction has an implied equity value of approximately $975 million.


If you own FTIV shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:


https://www.weisslawllp.com/FTIV/


Or please contact:



Joshua Rubin, Esq.

WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY  10036
(212) 682-3025
(888) 593-4771
[email protected]

WeissLaw is investigating whether FTIV’s board acted in the best interest of FTIV’s public shareholders in agreeing to the proposed transaction, whether the board was fully informed as to the valuation of Perella, and whether all information regarding the process undertaken by the board and the valuation of the transaction will be fully and fairly disclosed to FTIV public shareholders. 

WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties.  We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases.  If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected]

 

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SOURCE WeissLaw LLP

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High Times Announces Final Extension of Reg. A Offering Through Q1

The Most Well-Known Brand in Cannabis Expects to List on the Public Markets In Q1

LOS ANGELES, Dec. 31, 2020 (GLOBE NEWSWIRE) — Hightimes Holding Corp., the owner of High Times®, the oldest brand in the cannabis industry, has today announced the final extension of its highly successful Regulation A + crowdfunding campaign, having raised over $35 million from more than 30,000 investors. While the company has extended it’s offering through the 31st of March, 2021, it anticipates to list on the public markets during Q1 of this upcoming year.

“After the transformative year that was 2020, we could not be more excited to push on into 2021 and finally introduce our company to the public markets,” Hightimes Holding Corp.’s Executive Chairman Adam Levin stated. “It’s been a long road to get here, but the widespread support from investors from all over the world illustrates the global reach of the High Times brand!”

The Regulation A+ offering comes during a time of massive growth for the brand. After announcing its intent to enter into plant-touching operations less than 12 months ago, High Times is on its way to becoming one of the largest operators in California. Having already amassed a portfolio of cannabis licenses including operational stores as well as a thriving delivery service, the company additionally entered into a licensing deal that brought THC products and retail stores bearing the brands name into the Michigan market. While the 46-year-old industry cornerstone is famous for proliferating the cannabis market before it existed legally, the company has started selling the products it has talked about for many years.

The Regulation A+ offering, which is paused pending the filing of the Hightimes annual report on Form 1-K for the year ended 2019 and its semi-annual report on Form 1-SA, has been extended through March 31, 2021,

About High Times:

For more than 46 years, High Times has been the world’s most well-known cannabis brand – championing the lifestyle and educating the masses on the benefits of this natural flower. From humble beginnings as a counterculture lifestyle publication, High Times has evolved into a rapidly growing network of cannabis dispensaries and products, the host and creator of industry-leading events like the Cannabis Cup, the producer of globally distributed merchandise, benefactor of international licensing deals and provider of content for millions of fans and supporters across the globe. In the world of Cannabis, High Times is the most trusted arbiter of quality. For more information on High Times visit http://www.hightimes.com.

Forward Looking Statements

This press release contains information about Hightimes Holding Corp.’s view of its future expectations, plans and prospects that constitute forward-looking statements. In addition, consumption of the transactions contemplated with Harvest Health or any other dispensaries remain subject to certain closing conditions, including the receipt of certain regulatory and third-party consents.

Actual results may differ materially from historical results or those indicated by these forward-looking statements as a result of a variety of factors including, but not limited to, risks and uncertainties associated with its ability to maintain and grow its business, variability of operating results, its development and introduction of new products and services, marketing and other business development initiatives, among other things. For further information about Hightimes, Hightimes encourages you to review its filings with the Securities and Exchange Commission, including its Form 1-A Offering Circular dated July 27, 2018, its Offering Circular supplement dated May 31, 2019, and all subsequent filings, including its Current Reports on Form 1-U, dated December 31, 2020.


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BetterInvesting™ Magazine Chooses CVS Health Corp. As “Growth” Stock and Charles Schwab Corp. As “Undervalued” For March 2021 Issue

PR Newswire

MADISON HEIGHTS, Mich., Dec. 31, 2020 /PRNewswire/ — The Editorial Advisory and Securities Review Committee of BetterInvesting Magazine today announced CVS Health Corp. (NYSE: CVS) as its “Stock to Study” and Charles Schwab Corp. (NYSE: SCHW) its “Undervalued Stock” in the March 2021 issue for investors’ informational and educational use.

“Interest and participation in the stock market among individual investors, accelerated by the pandemic, has reached unprecedented levels,” said Doron P. Levin, editor of BetterInvesting Magazine. “Never before have skill, knowledge and the time-tested principles for intelligently selecting equities yielded so much value for those who possess them.”

Check BetterInvesting’s March 2021 issue for more details about these stock selections. Go to the trial version of BetterInvesting’s online tools to study the investment potential of CVS and Charles Schwab by viewing their fundamental data and applying judgments.

Committee members are Robert M. Bilkie, Jr., CFA; Daniel J. Boyle, CFA; Marisa Bradbury, CFA; Philip Keating, CFA; Philip S. Dano, CFA; and Walter J. Kirchberger, CFA.

As stated, the BetterInvesting committee’s Stock to Study and Undervalued Stock choices are for the informational and educational uses of investors and are not intended as investment recommendations. BetterInvesting urges investors to educate themselves about the stock market so they can make informed decisions about stock purchases.

About BetterInvesting:

BetterInvesting, a national 
501(c)(3) nonprofit, investment education organization, has been empowering everyday Americans since 1951. Also known as the National Association of Investors Corporation (NAIC), we have helped more than 5 million people from all walks of life learn how to improve their financial future. BetterInvesting is dedicated to providing unbiased, in-depth investing education and powerful online stock analysis tools in order to create successful lifelong investors. BetterInvesting staff along with a dedicated community of volunteers across America teach the organization’s principles and time-tested methodology to both individuals and investment clubs. For more information about BetterInvesting, please visit www.betterinvesting.org.

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Kessler Topaz Meltzer & Check, LLP Reminds Splunk Inc. Investors of Important Deadline in Securities Fraud Class Action Lawsuit

RADNOR, Pa., Dec. 31, 2020 (GLOBE NEWSWIRE) — The law firm of Kessler Topaz Meltzer & Check, LLP reminds Splunk Inc. (NASDAQ: SPLK) (“Splunk”) investors that a securities fraud class action lawsuit has been filed in the United States District Court for the Northern District of California against Splunk on behalf of those who purchased or otherwise acquired Splunk common stock between October 21, 2020 and December 2, 2020, inclusive (the “Class Period”).


Important Deadline Reminder:


Investors who purchased or otherwise acquired Splunk common stock


during the Class Period may,



no later than February 2, 2021



, seek to be appointed as a lead plaintiff representative of the class. For additional information or to learn how to participate in this litigation please click

https://www.ktmc.com/splunk-inc-securities-class-action?utm_source=PR&utm_medium=link&utm_campaign=splunk

.

According to its filings with the SEC, Splunk “provides innovative software solutions that ingest data from different sources including systems, devices and interactions, and turn[s] that data into meaningful business insights across the organization.” Splunk states that its “Data-to-Everything platform enables users to investigate, monitor, analyze and act on data regardless of format or source.”

The Class Period commences on October 21, 2020, when Splunk held a call with several analysts at the Virtual Analyst & Investor Session at .conf.20. On this call, Splunk assured investors that everything was on track for the close of the third quarter, which was just ten days after the call.

However, the truth regarding its third quarter was revealed after the market closed on December 2, 2020, when Splunk announced its financial results for its third fiscal quarter for 2021. In its announcement, Splunk reported total revenues of $559 million, down 11% year-over-year and which missed estimates by nearly $60 million. Furthermore, Splunk announced quarterly non-GAAP earnings per share of -$0.07, missing estimates by $0.15, as well as GAAP earnings per share of -$1.26, missing by $0.24 per share.

Following this news, shares of Splunk common stock fell, closing at $158.03 per share on December 3, 2020, down over 23% from the December 2, 2020 closing price of $205.91 per share.

The complaint alleges that, throughout the Class Period, the defendants misrepresented and/or failed to disclose to investors that: (1) Splunk was not closing deals with its largest customers in the third fiscal quarter of 2021; (2) Splunk was not hitting the financial targets it had previously announced; and (3) as a result of the foregoing, the defendants’ public statements were materially false and misleading at all relevant times.

If you wish to discuss this securities fraud class action lawsuit or have any questions concerning this notice or your rights or interests with respect to this litigation, please contact Kessler Topaz Meltzer & Check, LLP (James Maro, Jr., Esq. or Adrienne Bell, Esq.) at (844) 887-9500 (toll free) or (610) 667–7706, or via e-mail at [email protected].

Splunk investors may, no later than February 2, 2021, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP, or other counsel, or may choose to do nothing and remain an absent class member.  A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation.  In order to be appointed as a lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. 

Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world.  The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars).  The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.

CONTACT:

Kessler Topaz Meltzer & Check, LLP
James Maro, Jr., Esq.
Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087
(844) 887-9500 (toll free)
(610) 667-7706
[email protected]



Posted on

BSX SHAREHOLDER DEADLINE: Bernstein Liebhard LLP Reminds Investors of the Deadline to File a Lead Plaintiff Motion In a Securities Class Action Lawsuit Against Boston Scientific Corporation

NEW YORK, Dec. 31, 2020 (GLOBE NEWSWIRE) — Bernstein Liebhard, a nationally acclaimed investor rights law firm, reminds investors of the deadline to file a lead plaintiff motion in a securities class action lawsuit that has been filed on behalf of investors who purchased or acquired the securities of Boston Scientific Corporation (“Boston Scientific” or the “Company”) (NYSE: BSX) from April 24, 2019 through November 16, 2020 (the “Class Period”). The lawsuit filed in the United States District Court for the Eastern District of New York alleges violations of the Securities Exchange Act of 1934.

If you purchased Boston Scientific securities, and/or would like to discuss your legal rights and options please visit Boston Scientific Shareholder Class Action Lawsuit or contact Matthew E. Guarnero toll free at (877) 779-1414 or [email protected]

The complaint alleges that during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) the LOTUS Edge Aortic Valve System’s product delivery system was dysfunctional and threatened the continued viability of the entire product line; (2) as a result, the Company had materially overstated the continued commercial viability and profitability of the LOTUS Edge Aortic Valve System; and (3) as a result, the Company’s public statements were materially false and misleading at all relevant times.

On November 17, 2020, pre-market, Boston Scientific announced a global recall of all unused inventory of the LOTUS Edge Aortic Valve System due to “complexities associated with the product delivery system.” Boston Scientific also announced that “[g]iven the additional time and investment required to develop and reintroduce an enhanced delivery system, the company has chosen to retire the entire LOTUS product platform immediately.”

On this news, Boston Scientific’s stock price fell $3.00 per share, or 7.89%, to close at $35.03 per share on November 17, 2020.

If you wish to serve as lead plaintiff, you must move the Court no later than February 2, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.

If you purchased Boston Scientific securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/bostonscientificcorporation-bsx-shareholder-class-action-lawsuit-fraud-stock-341/apply/ or contact Matthew E. Guarnero toll free at (877) 779-1414 or [email protected]

Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.

ATTORNEY ADVERTISING. © 2020 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The lawyer responsible for this advertisement in the State of Connecticut is Michael S. Bigin. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Contact Information

Matthew E. Guarnero
Bernstein Liebhard LLP
https://www.bernlieb.com
(877) 779-1414
[email protected]