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ROSEN, A TRUSTED LAW FIRM, Announces Filing of Securities Class Action Lawsuit Against GoodRx Holdings, Inc.; Encourages Investors with Losses in Excess of $100K to Contact the Firm – GDRX

PR Newswire

NEW YORK, Dec. 21, 2020 /PRNewswire/ — Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of GoodRx Holdings, Inc. (NASDAQ: GDRX) between September 23, 2020 to November 16, 2020, inclusive (the “Class Period”). The lawsuit seeks to recover damages for GoodRx investors under the federal securities laws.

To join the GoodRx class action, go to http://www.rosenlegal.com/cases-register-2011.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.

The GoodRx class action lawsuit alleges that, at the time of the IPO, unbeknownst to investors, Amazon.com, Inc. was developing and would soon introduce its own online and mobile prescription medication ordering and fulfillment service that would directly compete with GoodRx.  Defendants timed the IPO so that it was priced before Amazon announced its online pharmaceutical business to facilitate the IPO and create artificial demand for the common shares sold therein, as well to maximize the amount of money the Company and the selling stockholders could raise in the IPO.  According to the GoodRx class action lawsuit, given defendants’ knowledge of Amazon’s intention to enter the online pharmaceutical business, their statements in the Registration Statement and during the Class Period about GoodRx’s competitive position were materially false and/or misleading when made and caused GoodRx Class A common stock to trade at artificially inflated prices of more than $64 per share during the Class Period.

Then on November 17, 2020, just weeks after GoodRx completed its IPO, Amazon announced two new pharmacy offerings, a Prime Rx plan and a discount card program, which, among other things, would compete directly with GoodRx’s platform by making it “simple for customers to compare prices and purchase medications for home delivery, all in one place.”  In response to this news, the price of GoodRx Class A common stock declined 23%, from $46.72 per share to $36.21 per share by market close on November 17, 2020, damaging investors.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than February 16, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-register-2011.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at [email protected] or [email protected].

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR’S ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm’s attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors. Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:
      Laurence Rosen, Esq.
      Phillip Kim, Esq.
      The Rosen Law Firm, P.A.
      275 Madison Avenue, 40th Floor
      New York, NY 10016
      Tel: (212) 686-1060
      Toll Free: (866) 767-3653
      Fax: (212) 202-3827
      [email protected]
      [email protected]
      [email protected]
      www.rosenlegal.com

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SOURCE Rosen Law Firm, P.A.

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Dubber Acquires Leading UK Mobile Recording Company Speik

PR Newswire

MELBOURNE, Australia, Dec. 21, 2020A$38 million performance-based acquisition payable in two parts accelerates Dubber’s revenue growth, increases consolidated bottom line and broadens Dubber compliance offerings

Key highlights:

  • Speik supports O2’s mobile recording service: Increases Dubber’s UK footprint
  • Speik provides PCI Compliance solutions with UK Carriers: Enriches Dubber’s solution portfolio as leader in Unified Call Recording, Compliance, secure voice data management
  • Speik has annual revenue of circa £7m (circa A$12.4m): Growing month-on-month
  • Speik is profitable: Enhancing Dubber’s consolidated bottom line
  • Accretive Fundamentals: Service provider and solution footprint, technology synergies and lean operating structure expected to contribute to revenue growth
  • Scrip and cash consideration with earn-out: Over half the consideration subject to a 16-month performance based earn-out to incentivise performance and preserve Dubber’s strong cash position
  • Attractive acquisition multiple: Efficient addition of revenue, service provider networks and subscribers that increases Dubber’s market-leading position
  • Key shareholder support: All key management shareholders retained in the business with incentives to continue strong performance

/PRNewswire/ — Dubber Corporation Limited (ASX: DUB) (Dubber), the global leader in Unified Call Recording & Voice Intelligence today announced it has acquired Speik – a leading UK-based provider of call recording and PCI Compliance solutions.

The acquisition furthers Dubber’s vision of dubbing the world’s networks and communications solutions to put AI on every phone, transforming voice data into a source of value for Enterprises and Governments globally.

Speik was formed in 2019 through a merger of Aeriandi Ltd (Aeriandi) and Voxygen Ltd (Voxygen). Voxygen had been supplying a hardware-based recording platform to Telefonica UK Limited (O2), one of the UK’s leading networks, and Aeriandi had been providing PCI compliance solutions in conjunction with leading UK service providers including Vodafone and Gamma. Speik is headquartered in Oxford and has 38 employees in the UK and Europe.

Speik will continue to operate as an independent division within the Dubber group, serving existing and future customers with its current product portfolio as supplemented by Dubber solutions.


Steve McGovern, CEO, Dubber on the Speik acquisition:

“Dubber’s acquisition of Speik is fundamentally accretive on all levels. Speik brings to Dubber a strong footprint in the leading UK-based mobile network provider, world-class technology resources, and a growing base of subscribers.

The team at Speik has been a pioneer in terms of network-based mobile recording together with O2.

Their success with one recording partner over seven years provides an insight into Dubber’s ambitions for its own 130-plus service provider partners, globally.

The Dubber product suite has a capability to expand Speik’s revenue opportunities with O2 – and other service providers – from its current enterprise focus into the larger addressable markets of mobile SME and across unified communications (UC) and Microsoft Teams services with Unified Call Recording.

We believe that Dubber can substantially accelerate growth and adoption in that and other key UK-based relationships while using Speik’s PCI services to drive additional revenues with our service provider partners. We welcome the Speik team to our growing Dubber family and look forward to serving our mutual customers like never before.”


James Slaney, Co- Founder & COO, Dubber:

“Dubber and Speik have complementary products that are easily integrated. We will bring significant benefits to Speik’s existing customers by making the entire Dubber solution set available to them – and assist Speik in winning new customers by enhancing their offerings with the scale and power of Dubber’s cloud platform and technology.”


Sergio Budkin, Director of Business Products and Propositions, Telefonica UK Ltd (O2):

“Together with Speik, O2 has been providing mobile recording services in the UK, enabling compliance, improved customer experience and productivity gains for Enterprises and Government. We welcome the opportunity to expand those services via Dubber’s industry-leading offering across multiple sectors and delivery platforms.”


Matthew Townend, Executive Director, Cavell on the Speik Acquisition:

“Service and Solution Providers are in a race to achieve differentiation and answer the accelerating compliance, security and productivity demands of Enterprises. Dubber with Speik will build on Dubber’s already industry-leading offering for service and solution providers and deep capability in addressing compliance and call recording needs within SME’s and Enterprises.”


Matthew Bryars, Founder and Vice Chairman, Speik:

“Dubber is the clear category leader in Unified Call Recording and we are excited to join the team – accelerating our growth, delivering richer solutions to Service and Solution providers, and unlocking the power of voice data for Government and Enterprises. Together we offer an unmatched capability in Unified Call Recording across any endpoint. I want to recognise and thank the Speik team for the tremendous effort put in over several years.  Today opens a new chapter in our journey that I couldn’t be more excited about.”

Transaction Summary:



Key Acquisition Terms:

  • Dubber has acquired all of the issued share capital of Aeriandi and its wholly owned subsidiary Voxygen, both UK companies. These companies own and operate the Speik business.
  • The aggregate consideration is approx. £21.5 million (A$38 million) based on known and estimated numbers (see below). Payable in cash and/or shares, as elected by the selling shareholders, with a 5% reduction if taken in cash.
  • Initial consideration of £10.1 million (A$17.9 million) was paid at completion, with £7.9 million paid in cash and loan notes (see below) (£1.07 million of which was paid to satisfy commercial loan debt of Aeriandi) and the balance, representing 22% of the initial consideration, to be satisfied by way of the issue of 2,441,533 Dubber fully paid ordinary shares at a deemed issued price of A$1.60. All shares to be issued will be within Dubber’s existing Listing Rule 7.1 issue capacity. Initial consideration will be adjusted on customary terms post-completion for movement in targeted working capital.
  • Earn-out consideration is payable in mid-2022 subject to achievement of an agreed EBITDA target, with the amount payable determined as multiples of specified revenue streams across the Speik business. While the amount is unknown as at the completion date, based on Speik management forecasts for the relevant period, the earn out consideration if the EBITDA target is achieved would be £10.3 million (A$18.3 million at the present-day AUD/GBP exchange rate). If the forecasts are exceeded, the cash component of the earn-out will be capped in any event at approx. £8.8 million while the share component,
    which represents approx. 23% of the aggregate earn-out payment, is not capped. The issue price of earn-out shares will be determined by the 30-day VWAP prior to the end of the earn-out period.
  • The mechanism for payment of the consideration includes, for some of the selling shareholders, customary short-term loan notes that will be exchanged for an agreed amount of cash or shares either at or post-completion and earn-out. This is a standard structure and will have no material adverse financial impact on Dubber.
  • The agreement also includes provisions customary for a transaction of this nature, including clauses for post-completion undertakings, employment of key personnel, post-completion adjustments and obligations, warranties and representations, confidentiality and non-competition/solicitation.



About Aeriandi and the Sellers

Aeriandi is a small proprietary company with numerous selling shareholders at completion, comprising:

  • Several individual founders and key management personnel, namely Matthew Bryars, Paul Glover, Daniel Bryars, Thomas Harwood and Jonny Shanmuganathan
  • A private UK investment vehicle, Celvam Capital Limited
  • Over 30 employee shareholders who had acquired shares under Aeriandi’s enterprise management incentive scheme.

None of these sellers are related parties of Dubber.



Strategic Rationale

  • Accelerates Dubber’s service provider footprint in the UK, revenue growth, and subscribers
  • Broadens Dubber’s compliance offerings, specifically in PCI compliance
  • Dubber to accelerate the adoption of Speik using Dubber Voice Intelligence Cloud and integrations
  • Strong synergies in product approach mean technologies can be easily unified into common platforms with the potential to create efficiencies over time
  • Provides Speik with critical sales and marketing resources to scale go-to-market capabilities
  • Attractive acquisition multiple and profitable business



Financial Impact

  • Aggregate cash payments for the acquisition consideration are capped, with the earn-out component subject to performance against agreed metrics. Balance of acquisition consideration payable in Dubber shares
  • Operating synergies to be realised over time
  • No incremental investment in staff or technology required to achieve scaling

This announcement has been approved for release to ASX by Steve McGovern, CEO & Managing Director.

About Dubber:
Dubber is unlocking the potential of voice data from any call or conversation. Dubber is the world’s most scalable Unified Call Recording service and Voice Intelligence Cloud adopted as core network infrastructure by multiple global leading telecommunications carriers in North America, Europe and Asia Pacific. Dubber allows service providers to offer call recording for compliance, business intelligence, sentiment analysis, AI and more on any phone. Dubber is a disruptive innovator in the multi-billion-dollar call recording industry, its Software as a Service offering removes the need for on-premise hardware, applications or costly and limited storage.

About Cavell:
Cavell is a leading Analyst and Consulting company and acted as a key advisor to Dubber for this acquisition. 

For more information, please contact:

Investors:
Simon Hinsley

[email protected]

+61 (0) 401 809 653

AU & NZ Media:
Terry Alberstein

[email protected]

+61 (0) 458 484 921

UK Media:
James Taylor | The PR Network
+44 (0)7796 138291
[email protected]

US Media:

Charlie Guyer, Guyer Group for Dubber
+1.617.599.8830
[email protected]

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SOURCE Dubber

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OneConnect CEO: Fintech Transformation Now a Driver of Growth in Banking Sector

PR Newswire

SHENZHEN, China, Dec. 21, 2020 /PRNewswire/ — Financial technology has moved from the innovation fringe of the financial services sector to become the engine of its growth, says Ye Wangchun, Chairman and CEO of OneConnect Financial Technology Co., Ltd. (NYSE: OCFT) (“OneConnect” or “the Company”), the leading technology-as-a-service platform provider.

Mr. Ye made his remarks at the fourth annual China Digital Banking Forum, which OneConnect co-organized with the Internet Finance Association of Small and Medium-sized Banks, China Banking Magazine and the Shenzhen Banking Association, under the guidance of the China Banking Association and the Shenzhen Municipal Financial Regulatory Bureau.

“It is widely recognized in the industry that banks should accelerate the strategic layout of the development of fintech, which has become a driving force for small and medium-sized banks to adapt to the digital economy,” Mr. Ye said. “The global fintech adoption rate increased from 16 percent in 2015 to 64 percent in 2019, and the rate for China now stands at about 87 percent.”

The forum attracted about 300 industry experts, scholars and media professionals to share insights on the digital transformation of banks and how technology has become a major driver for them to enhance the quality and efficiency of their financial services. The event has become an influential platform for regulators, banks and financial technology firms to exchange ideas and advance potential cooperation.

Fintech transformation is moving from “making spare parts to manufacturing the entire vehicle,” Mr. Ye said. The Internet Finance Association of Small and Medium-sized Banks “aims to become the most valuable platform for banks to exchange ideas and cooperate to realize digital transformation” by effectively integrating the resources of its partners into the ecosystem to promote more cooperation and interaction among all players in the industry.

Technological transformation moves in sync with industry changes

China’s economy is moving towards a new pattern of development, as the digital economy has gradually become the main driver of the economy, starting with the comprehensive transformation of the financial industry.

OneConnect has enabled many financial institutions to initiate digital transformation and has accumulated rich first-hand experience, Ye said.

The industry is rapidly moving to end-to-end transformation, integration of resources, smart innovation, domestic core and cloud infrastructure construction. OneConnect is upgrading its services by integrating products and solutions to provide end-to-end service to better meet the digital transformation needs of financial institutions, regulators and the government. The association will also support small and medium-sized banks to integrate cloud-to-end services.


About OneConnect

OneConnect is a leading technology-as-a-service platform for financial institutions in China. The Company’s platform provides cloud-native technology solutions that integrate extensive financial services industry expertise with market-leading technology. The Company’s solutions provide technology applications and technology-enabled business services to financial institutions. Together they enable the Company’s customers’ digital transformations, which help them increase revenue, manage risks, improve efficiency, enhance service quality, and reduce costs.

Our technology-as-a-service platform strategically covers multiple verticals in the financial services industry, including banking, insurance and asset management, across the full scope of their businesses – from sales and marketing and risk management to customer services, as well as technology infrastructures such as data management, program development, and cloud services.

 

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SOURCE OneConnect

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Customers Bancorp Provides Additional Information About BankMobile Divestiture

Customers Bancorp Provides Additional Information About BankMobile Divestiture

WEST READING, Pa.–(BUSINESS WIRE)–
Customers Bancorp, Inc. (NYSE: CUBI), the parent company of Customers Bank and its operating division BankMobile (collectively “Customers”), today announced that it has been informed by Megalith Financial Acquisition Corp. (“Megalith”) that at Megalith’s previously announced special meeting of stockholders its stockholders voted in favor of all proposals relating to the proposed business combination between Megalith and BankMobile Technologies, Inc. (“BankMobile”).

As previously announced, Megalith, MFAC Merger Sub Inc. (“Merger Sub”) , Customers Bancorp, Customers Bank and BankMobile Technologies, Inc., (“BankMobile”) are parties to an Agreement and Plan of Merger (as amended to date, the “Merger Agreement”) providing for the merger of BankMobile with and into Merger Sub (the “Merger”), with Merger Sub surviving the Merger as a wholly-owned subsidiary of Megalith. It is expected that Megalith, upon the closing of the Merger, will change its name to “BM Technologies, Inc.”

To ensure economic efficiency, the parties currently expect the Merger to close on January 4, 2021, which among other reasons could be beneficial to Customers’ shareholders for tax planning purposes. Closing of the Merger is subject to a number of customary conditions, including the approval of Megalith stockholders that occurred today.

No Offer or Solicitation

This press release is intended to provide information to Customers Bancorp shareholders and is not an offer to sell or the solicitation of an offer to buy any securities pursuant to the Merger or otherwise.

Institutional Background

Customers Bancorp, Inc. is a bank holding company located in West Reading, Pennsylvania engaged in banking and related businesses through its bank subsidiary, Customers Bank, a full-service bank with $18.8 billion in assets as of September 30, 2020. A member of the Federal Reserve System with deposits insured by the Federal Deposit Insurance Corporation, Customers Bank is an equal opportunity lender that provides a range of banking and lending services to small and medium-sized businesses, professionals, individuals and families. Services and products are available wherever permitted by law through digital-first apps, online portals, and a network of offices and branches. Customers Bancorp, Inc.’s voting common shares are listed on the New York Stock Exchange under the symbol CUBI.

“Safe Harbor” Statement

In addition to historical information, this press release may contain “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements with respect to Customers Bancorp, Inc.’s strategies, goals, beliefs, expectations, estimates, intentions, capital raising efforts, financial condition and results of operations, future performance and business. Statements preceded by, followed by, or that include the words “may,” “could,” “should,” “pro forma,” “looking forward,” “would,” “believe,” “expect,” “anticipate,” “estimate,” “intend,” “plan,” or similar expressions generally indicate a forward-looking statement. These forward-looking statements involve risks and uncertainties that are subject to change based on various important factors (some of which, in whole or in part, are beyond Customers Bancorp, Inc.’s control). Numerous competitive, economic, regulatory, legal and technological events and factors, among others, could cause Customers Bancorp, Inc.’s financial performance to differ materially from the goals, plans, objectives, intentions and expectations expressed in such forward-looking statements, including: the adverse impact on the U.S. economy, including the markets in which we operate, of the coronavirus outbreak, and the impact of a slowing U.S. economy and increased unemployment on the performance of our loan and lease portfolio, the market value of our investment securities, the demand for our products and services and the availability of sources of funding; the effects of actions by the federal government, including the Board of Governors of the Federal Reserve System and other government agencies, that effect market interest rates and the money supply; actions that we and our customers take in response to these developments and the effects such actions have on our operations, products, services and customer relationships; the effects of changes in accounting standards or policies, including Accounting Standards Update (“ASU”) 2016-13, Financial Instruments—Credit Losses (“CECL”); and, our ability to divest BankMobile on terms and conditions acceptable to us, in the timeframe we currently intend, and the possible effects on our business and results of operations of a divestiture of BankMobile or if we are unable to divest BankMobile for an extended period of time. Customers Bancorp, Inc. cautions that the foregoing factors are not exclusive, and neither such factors nor any such forward-looking statement takes into account the impact of any future events. All forward-looking statements and information set forth herein are based on management’s current beliefs and assumptions as of the date hereof and speak only as of the date they are made. For a more complete discussion of the assumptions, risks and uncertainties related to our business, you are encouraged to review Customers Bancorp, Inc.’s filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K for the year ended December 31, 2019, subsequently filed quarterly reports on Form 10-Q and current reports on Form 8-K, including any amendments thereto, that update or provide information in addition to the information included in the Form 10-K and Form 10-Q filings, if any. Customers Bancorp, Inc. does not undertake to update any forward-looking statement whether written or oral, that may be made from time to time by Customers Bancorp, Inc. or by or on behalf of Customers Bank, except as may be required under applicable law.

Jay Sidhu, Chairman & CEO 610-935-8693

Richard Ehst, President & COO 610-917-3263

Carla Leibold, CFO 484-923-8802

KEYWORDS: United States North America Pennsylvania

INDUSTRY KEYWORDS: Banking Other Professional Services Professional Services Finance

MEDIA:

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Megalith Financial Acquisition Corp. Stockholders Approve Business Combination with BankMobile Technologies, Inc.

NEW YORK, NY, Dec. 21, 2020 (GLOBE NEWSWIRE) — Megalith Financial Acquisition Corp. (the “Company” or “MFAC”) (NYSE American: MFAC, MFAC.W, MFAC.U), a special purpose acquisition company, today held its previously announced special meeting of stockholders (the “Special Meeting”). In connection therewith, the Company’s stockholders voted in favor of all proposals, including the proposed business combination between the Company and BankMobile Technologies, Inc., a Pennsylvania corporation (“BankMobile”) (the “Proposed Transaction”). In connection with the Special Meeting, 500 shares of Class A common stock were redeemed.

To ensure economic efficiency, the parties currently expect the Proposed Transaction to close on January 4, 2021.

About Megalith Financial Acquisition Corp.

Megalith Financial Acquisition Corp. is a blank check company incorporated in Delaware for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, with a focus on the fintech or financial services industries. MFAC consummated its initial public offering on the NYSE in August 2018 and is listed under the symbol “MFAC.” More information can be found on its website at http://www.megalithfinancial.com.

Additional Information and Where to Find It

This communication is being made in respect of the Proposed Transaction. The Company filed with the Securities and Exchange Commission (the “SEC”) a preliminary proxy statement on September 21, 2020 (the “Preliminary Proxy Statement”), a registration statement on Form S-4 (File No. 333-249815) on November 3, 2020, as amended on November 18, 2020 and December 9, 2020 (the “Registration Statement”) (which includes a prospectus (the “Prospectus”) and the Preliminary Proxy Statement, as amended), and a final Prospectus on December 11, 2020 (the “Final Prospectus,” and together with the definitive proxy statement, dated December 11, 2020, included therein, the “Definitive Proxy Statement”) in connection with the Proposed Transaction, and will file other documents regarding the Proposed Transaction with the SEC. Before making any investment decision, investors and stockholders of the Company are urged to carefully read the Registration Statement and the Definitive Proxy Statement, and other relevant documents filed with the SEC, because such documents will contain important information about the Company, BankMobile and the Proposed Transaction. The Company began mailing the Definitive Proxy Statement to its stockholders on December 11, 2020. Stockholders may also obtain copies of the Definitive Proxy Statement, without charge, at the SEC’s website at www.sec.gov or by directing a request to: Megalith Financial Acquisition Corp., 535 Fifth Avenue, 29th Floor, New York, New York 10017.

Non-Solicitation

The disclosure herein is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the Proposed Transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of MFAC, nor shall there be any sale of any such 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. No offer of securities shall be made except by means of a definitive document.

Forward Looking Statements

This release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainty. Words such as “anticipate,” “estimate,” “expect,” “intend,” “plan,” and “project” and other similar words and expressions are intended to signify forward-looking statements.  Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties.  Such statements are based on management’s current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Investors are cautioned that there can be no assurance actual results or business conditions will not differ materially from those projected or suggested in such forward-looking statements as a result of various factors. Please refer to the risks detailed from time to time in the reports we file with the SEC, including the Preliminary Proxy Statement, the Registration Statement, the Definitive Proxy Statement, our Annual Report on Form 10-K for the year ended December 31, 2019, as well as other filings on Form 10-Q and periodic filings on Form 8-K, for additional factors that could cause actual results to differ materially from those stated or implied by such forward-looking statements. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, unless required by law.

Contact

A.J. Dunklau
Chief Executive Officer
[email protected] 



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ROSEN, A TOP RANKED LAW FIRM, Announces Investigation of Securities Claims Against CD Projekt S.A.; Encourages Investors with Losses in Excess of $100K to Contact the Firm – OTGLY, OTGLF

PR Newswire

NEW YORK, Dec. 21, 2020 /PRNewswire/ — Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of CD Projekt S.A. (OTC: OTGLY, OTGLF) resulting from allegations that CD Projekt may have issued materially misleading business information to the investing public.

On December 18, 2020, Market Insider reported that “Sony announced on Friday that it was pulling [Cyberpunk 2077] from its PlayStation Store and offering full refunds to players following a wave of complaints about the long-awaited title.” The Market Insider report also quoted the Company’s co-CEO stating during an analyst call that “[a]fter three delays, we were too focused on releasing the game,” and “[w]e ignored signals about the need for additional time to refine the game on the base last-gen consoles.”

On this news, the Company’s American depositary share (“ADS”) price fell $3.49 per ADS, or 15%, to close at $18.50 per ADS on December 18, 2020.

Rosen Law Firm is preparing a securities lawsuit on behalf of CD Projekt shareholders. If you purchased securities of CD Projekt please visit the firm’s website at http://www.rosenlegal.com/cases-register-2010.html to join the securities action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at mailto:[email protected] or [email protected].

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.

Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm’s attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

      Laurence Rosen, Esq.
      Phillip Kim, Esq.
      The Rosen Law Firm, P.A.
      275 Madison Avenue, 40th Floor
      New York, NY 10016
      Tel: (212) 686-1060
      Toll Free: (866) 767-3653
      Fax: (212) 202-3827
      [email protected]
      [email protected]
      [email protected]
      www.rosenlegal.com

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SOURCE Rosen Law Firm, P.A.

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Government of Canada Rejects TMAC Sale to Shandong Gold Mining Co., Ltd.

Government of Canada Rejects TMAC Sale to Shandong Gold Mining Co., Ltd.

TORONTO–(BUSINESS WIRE)–
TMAC Resources Inc. (TSX: TMR) (“TMAC” or the “Company”) has been informed that the Governor in Council has issued an order under the Investment Canada Act (Canada) directing Shandong Gold Mining Co., Ltd. and its affiliate (“Shandong”) not to implement the plan of arrangement (the “Transaction”). As a result, the Transaction between TMAC and Shandong will not proceed. TMAC and Shandong are in discussions regarding termination of the Transaction.

Jason Neal, President and Chief Executive Officer of TMAC, stated, “The Transaction whereby Shandong would acquire 100% of TMAC, as announced on May 8, 2020 and approved by 97% of our shareholders on June 26, 2020, did not receive Canadian regulatory approval and will not proceed.”

Jason Neal continued, “While we are disappointed with the outcome, we are very pleased that TMAC achieved significant operation improvements at Hope Bay. We will continue to build on these improvements while considering options to manage our balance sheet. We continue to believe that the Hope Bay gold belt holds substantial value with long life production potential that presents a significant development opportunity. We have developed and are currently evaluating mining and processing plant alternative scenarios with the objectives of reducing capital expenditures and financing requirements compared with the 2020 PFS, while maximizing value. Given our September 30, 2020 unrestricted cash balance of C$71.5 million and current positive cash flow being generated, we expect to have sufficient cash on hand to fund the 2021 sealift, but not to fully repay maturing debt recently extended to June 30, 2021. We have the required consumables, materials and supplies to continue operating at current levels until the third quarter 2021 sealift arrives, including recommencement of development at Doris Central and Madrid early in 2021 and have turned our focus to addressing our June debt maturity.”

Jason Neal concluded, “I would like to thank the TMAC employees and contractors for their hard work and dedication this year as we have dealt with the unprecedented COVID-19 pandemic and the uncertainties of the Transaction, while concurrently improving our safety performance and productivity. I would also like to thank the Inuit communities and leadership of Nunavut, our business partners and other stakeholders for their patience during the regulatory review process.”

MANAGEMENT CHANGES

Gil Lawson, Chief Operating Officer of TMAC, has left the Company. The Board of Directors would like to thank Mr. Lawson for his dedication to TMAC since joining in this role in August 2017. The Hope Bay operations have been reporting directly to Calum Semple, Executive Vice President, Operations and a Director of TMAC, since he joined the Company in February 2020. With Mr. Lawson’s departure, Calum Semple will now report solely to the President & CEO.

ABOUT TMAC RESOURCES INC.

TMAC operates the Hope Bay property located in Nunavut, Canada. The property and operations are remote but not isolated, serviced by both a port and airstrip. Hope Bay is an 80 km by 20 km Archean greenstone belt that has been explored by BHP, Miramar, Newmont and TMAC over a period spanning more than 30 years. In that time, more than $1.5 billion of expenditures have been spent in exploration and evaluation, surface infrastructure, and mine and process plant development. TMAC began producing gold in early 2017 from Doris, its first mine at Hope Bay, and processed gold at the Doris processing plant which originally had nameplate capacity of 1,000 tpd and expanded to 2,000 tpd midway through 2018. There is potential to grow TMAC’s established deposits considerably at depth, and then grow resources further through the prioritized exploration of the more than 90 other identified regional targets. TMAC is now permitted to produce from both Madrid and Boston.

FORWARD-LOOKING INFORMATION

This release contains “forward-looking information” within the meaning of applicable securities laws that is intended to be covered by the safe harbours created by those laws. “Forward-looking information” includes statements that use forward-looking terminology such as “may”, “will”, “expect”, “anticipate”, “believe”, “continue”, “potential” or the negative thereof or other variations or comparable terminology. Forward-looking information in this release includes, but is not limited to, statements regarding the termination of the Transaction, TMAC’s intentions and expectations regarding its balance sheet, its operations, the potential of the Hope Bay gold belt, mining and processing alternatives, its ability to fund the 2021 sealift and operate until it arrives, and addressing its debt.

“Forward-looking information” is not a guarantee of future performance and management bases forward-looking statements on a number of estimates and assumptions at the date the statements are made. Furthermore, such “forward-looking information” involves a variety of known and unknown risks, uncertainties and other factors, which may cause the actual plans, intentions, activities, results, performance or achievements expressed or implied. See “Risk Factors” in the Company’s Annual Information Form dated May 12, 2020 filed on SEDAR at www.sedar.com for a discussion of these risks.

TMAC Resources Inc.

Jason Neal

President and Chief Executive Officer

Phone: 647-480-3111

Lisa Wilkinson

Vice President, Investor Relations and Strategic Development

Phone: 647-480-3110

Email: [email protected]

www.tmacresources.com

KEYWORDS: North America Canada

INDUSTRY KEYWORDS: Natural Resources Other Natural Resources Mining/Minerals

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ZOSANO ALERT: Bragar Eagel & Squire, P.C. Reminds Investors That a Class Action Lawsuit Has Been Filed Against Zosano Pharma Corp. and Encourages Investors to Contact the Firm

ZOSANO ALERT: Bragar Eagel & Squire, P.C. Reminds Investors That a Class Action Lawsuit Has Been Filed Against Zosano Pharma Corp. and Encourages Investors to Contact the Firm

NEW YORK–(BUSINESS WIRE)–
Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that a class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of investors that purchased Zosano Pharma Corp. (NASDAQ: ZSAN) securities between February 13, 2017 and September 30, 2020 (the “Class Period”). Investors have until December 28, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

Click here to participate in the action.

Zosano is a clinical stage pharmaceutical company. Its lead product candidate is Qtrypta (M207), a formulation of zolmitriptan coated onto the Company’s microneedle patch. Its pivotal efficacy trial, called ZOTRIP, began in July 2016. In December 2019, Zosano submitted its New Drug Application (“NDA”) to the U.S. Food and Drug Administration (“FDA”) seeking regulatory approval for Qtrypta.

On September 30, 2020, Zosano disclosed receipt of a discipline review letter (“DRL”) from the FDA regarding its NDA for Qtrypta and stated that approval was not likely. According to the Company’s press release, the FDA “raised questions regarding unexpected high plasma concentrations of zolmitriptan observed in five study subjects from two pharmacokinetic studies and how the data from these subjects affect the overall clinical pharmacology section of the application.” The FDA also “raised questions regarding differences in zolmitriptan exposures observed between subjects receiving different lots of Qtrypta in the company’s clinical trials.”

On this news, the Company’s share price fell $0.92, or 57%, to close at $0.70 per share on October 1, 2020.

On October 21, 2020, Zosano disclosed receipt of a Complete Response Letter (“CRL”) from the FDA. As a result of the previously identified deficiencies, the FDA recommended that Zosano conduct a repeat bioequivalence study between three of the lots used during development.

On this news, the Company’s share price fell $0.17, or 27%, to close at $0.04440 per share on October 21, 2020.

The complaint, filed on October 29, 2020, 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 failed to disclose to investors: (1) that the Company’s clinical results reflected differences in zolmitriptan exposures observed between subjects receiving different lots; (2) that pharmocokinetic studies submitted in connection with the Company’s NDA included patients exhibiting unexpected high plasma concentrations of zolmitriptan; (3) that, as a result of the foregoing differences among patient results, the FDA was reasonably likely to require further studies to support regulatory approval of Qtrypta; (4) that, as a result, regulatory approval of Qtrypta was reasonably likely to be delayed; and (5) as a result of the foregoing, defendants’ public statements were materially false and misleading at all relevant times.

If you purchased Zosano securities during the Class Period and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at [email protected], telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.

About Bragar Eagel & Squire, P.C.:

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.

Bragar Eagel & Squire, P.C.

Brandon Walker, Esq.

Melissa Fortunato, Esq.

Marion Passmore, Esq.

(212) 355-4648

[email protected]

www.bespc.com

KEYWORDS: New York United States North America

INDUSTRY KEYWORDS: Legal Professional Services

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DEADLINE ALERT: Bragar Eagel & Squire, P.C. Reminds Investors That a Class Action Lawsuit Has Been Filed Against Citigroup, Inc. and Encourages Investors to Contact the Firm

DEADLINE ALERT: Bragar Eagel & Squire, P.C. Reminds Investors That a Class Action Lawsuit Has Been Filed Against Citigroup, Inc. and Encourages Investors to Contact the Firm

NEW YORK–(BUSINESS WIRE)–
Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of investors that purchased Citigroup, Inc. (NYSE: C) common stock between January 15, 2016 and October 12, 2020 (the “Class Period”). Investors have until December 29, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

Click here to participate in the action.

On February 25, 2017, the Company submitted its 2016 Annual Report to the SEC. In that filing, and throughout the Class Period, Citi assured investors that there were no significant deficiencies or material weaknesses in the Company’s internal controls. When faced with periodic regulatory penalties for noncompliance, the Company continued to assure investors that the specific deficiencies at issue were being remediated promptly and that internal controls and regulatory compliance were a top priority at Citi. In particular, Citi assured investors that it satisfied all regulatory requirements and maintained adequate internal controls, data governance, compliance risk management, and enterprise risk management.

In reality, during the Class Period and unbeknownst to investors, Citi’s internal controls and risk management capabilities suffered from “serious” and “longstanding” inadequacies that exposed the Company to massive regulatory penalties and will cost significantly more than $1 billion to remediate. Specific control failures about which Citi executives were warned remained unresolved for years and the Company’s culture of non-compliance was so widespread that Citi’s CEO, Defendant Michael Corbat, exhorted employees in an internal memo that regulatory compliance required more than “checking boxes.”

The truth began to emerge on September 14, 2020, when reports surfaced that regulators were preparing to reprimand Citi for failing to improve its risk-management systems.

That disclosure caused the price of Citi’s stock to decline $2.85 per share, from $51.00 to $48.15, erasing $5.91 billion in shareholder value.

After the market closed on September 14, 2020, an internal memo sent to Citi employees revealed for the first time the Company’s disregard for adequate internal controls and regulatory compliance.

As a result, the price of Citi’s stock declined an additional $3.34 per share, from $48.15 to $44.81, erasing $6.93 billion in shareholder value.

Then, on October 13, 2020, Citi reported earnings for the third quarter of 2020, and disclosed that the Company’s expenses increased during the third quarter by 5%, to $11 billion, due to an increase in costs including a $400 million fine, investments in infrastructure, and other remediation costs related to control deficiencies.

These disclosures caused Citi’s stock price to decline by $2.20 per share, from $45.88 to $43.68, erasing $4.57 billion in shareholder value.

If you purchased Citigroup common stock during the Class Period and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at [email protected], telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.

About Bragar Eagel & Squire, P.C.:

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.

Bragar Eagel & Squire, P.C.

Brandon Walker, Esq.

Melissa Fortunato, Esq.

Marion Passmore, Esq.

(212) 355-4648

[email protected]

www.bespc.com

KEYWORDS: United States North America New York

INDUSTRY KEYWORDS: Legal Professional Services

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TRIT, TRITW CLASS ACTION NOTICE: Glancy Prongay & Murray LLP Files Securities Fraud Lawsuit Against Triterras, Inc. f/k/a Netfin Acquisition Corp.

TRIT, TRITW CLASS ACTION NOTICE: Glancy Prongay & Murray LLP Files Securities Fraud Lawsuit Against Triterras, Inc. f/k/a Netfin Acquisition Corp.

LOS ANGELES–(BUSINESS WIRE)–Glancy Prongay & Murray LLP (“GPM”), announces that it has filed a class action lawsuit in the United States District Court for the Southern District of New York captioned Ferraiori v. Triterras, Inc., f/k/a Netfin Acquisition Corp., et al., (Case No. 1:20-cv-10795) on behalf of persons and entities that purchased or otherwise acquired Triterras, Inc. (“Triterras” or the “Company”) f/k/a Netfin Acquisition Corp. (“Netfin”) (NASDAQ: TRIT, TRITW) securities between August 20, 2020 and December 16, 2020, inclusive (the “Class Period”). Plaintiff pursues claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”).

Investors are hereby notified that they have until 60 days from this notice to move the Court to serve as lead plaintiff in this action.

If you suffered a loss on your Triterras investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https://www.glancylaw.com/cases/triterras-inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [email protected] or visit our website at www.glancylaw.com to learn more about your rights.

Triterras is a fintech company focused on trade and trade finance. It operates Kratos, a commodity trading and trade finance platform that connects commodity traders to trade and source capital from lenders directly online. Triterras formed via merger of Netfin and Triterras Fintech Pte. Ltd., which closed on November 11, 2020.

Rhodium Resources Pte. Ltd. (“Rhodium”) is a commodity trading business controlled by Srinivas Koneru, the Company’s Chief Executive Officer (“CEO”). Rhodium enabled the launch of the Kratos platform, and substantially all of the Company’s users were referred to it by Rhodium.

On December 17, 2020, Triterras stated that Rhodium was seeking a moratorium to shield itself from creditor actions while it planned a restructuring of its debts and continue its business as a going concern.

On this news, the Company’s share price fell $4.11, or 31%, to close at $9.09 per share on December 17, 2020, on unusually heavy trading volume. The Company’s warrant price fell $1.09, or 35%, to close at $2.01 per warrant on December 17, 2020, on unusually heavy trading volume.

The complaint filed in this class action 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 failed to disclose to investors: (1) the extent to which Company’s revenue growth relied on Triterras’ relationship with Rhodium to refer users to the Kratos platform; (2) that Rhodium faced significant financial liabilities that jeopardized its ability to continue as a going concern; (3) that, as a result, Rhodium was likely to refer fewer users to the Company’s Kratos platform; and (4) 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.

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If you purchased or otherwise acquired Triterras securities during the Class Period, you may move the Court no later than 60 days from this notice ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.  

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

Glancy Prongay & Murray LLP, Los Angeles

Charles H. Linehan, 310-201-9150 or 888-773-9224

1925 Century Park East, Suite 2100

Los Angeles, CA 90067

www.glancylaw.com

[email protected]

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Legal Professional Services

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