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FOUNDATION BUILDING (FBM) SHAREHOLDER ALERT – Andrews & Springer LLC Is Seeking More Cash for Shareholders of Foundation Building Materials, Inc.

WILMINGTON, Del., Nov. 16, 2020 (GLOBE NEWSWIRE) — Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential breach of fiduciary duty claims against the Board of Directors of Foundation Building Materials, Inc. (NYSE: FBM) (“Foundation Building” or the “Company”) relating to the sale of the Company to affiliates of private equity firm American Securities, LLC (“American Securities”). On November 13, 2020, the two parties announced the signing of a definitive merger agreement pursuant to which American Securities will acquire Foundation Building in a merger in a deal worth $1.37 billion. As a result of the merger, Foundation Building shareholders are only anticipated to receive $19.25 per share in cash in exchange for each share of Foundation Building.

Andrews & Springer’s investigation so far has revealed that the consideration Foundation Building shareholders are expected to receive is inadequate. While the Company claims that shareholders will receive a premium for their shares, the deal consideration is less than the Company’s $19.41 per share price as of the closing of the markets earlier this year on January 15, 2020. Our investigation has also revealed that the process leading up to the announcement of the merger appears to have significant conflicts of interest thus making the process and consideration unfair.

If you own shares of Foundation Building and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/foundation-building-class-action-investigation/ or contact Craig J. Springer, Esq. at [email protected], or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook – www.facebook.com/AndrewsSpringer for future updates.

Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.

Contact:  Craig J. Springer, Esq.
  [email protected] 
  Toll Free: 1-800-423-6013



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RealPage to Participate in Upcoming Investor Conferences

RealPage to Participate in Upcoming Investor Conferences

RICHARDSON, Texas–(BUSINESS WIRE)–RealPage, Inc. (NASDAQ: RP), a leading global provider of software and data analytics to the real estate industry, today announced that RealPage management will present at the following investor conferences:

  • RBC Capital Markets Global Technology, Internet, Media & Telecommunications Conference on Tuesday, November 17, 2020; and
  • Stephens Annual Investment Conference on Wednesday, November 18, 2020.

Where applicable, webcasts will be accessible on the Investor Relations page of the RealPage website at https://investor.realpage.com/.

About RealPage

RealPage provides a technology platform that enables real estate owners and managers to change how people experience and use rental space. Clients use the platform to gain transparency into asset performance, leverage data insights and monetize space to create incremental yields. Founded in 1998 and headquartered in Richardson, Texas, RealPage currently serves over 19 million units worldwide from offices in North America, Europe and Asia. For more information about RealPage, please visit https://www.RealPage.com.

Steve Calk

RealPage Investor Relations

972-810-8138

[email protected]

KEYWORDS: Texas United States North America

INDUSTRY KEYWORDS: Data Management Technology Residential Building & Real Estate Commercial Building & Real Estate Software Construction & Property

MEDIA:

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Micron Solutions, Inc. Reports 2020 Third Quarter Results

FITCHBURG, Mass., Nov. 16, 2020 (GLOBE NEWSWIRE) — Micron Solutions, Inc. (OTCQB: MICR) (the “Company”), a diversified contract manufacturing organization, through its wholly-owned subsidiary, Micron Products, Inc., producing highly-engineered, innovative components requiring precision machining and injection molding, announced results for its third quarter ended September 30, 2020.

In the third quarter of 2020, the Company reported $5,636,000 in revenue, as compared to $4,331,000 in the third quarter of 2019, a 30.1% increase. Net Income for the third quarter of 2020 was $324,000 compared to a net loss of $507,000 in the third quarter of 2019. Gross Margin improved to 23.0% in the third quarter of 2020, compared to 9.2% in the third quarter of 2019.

Adjusted EBITDA for the third quarter of 2020, was $766,000 compared to $80,000 in the third quarter of 2019, an approximate 950% increase.

Outlook:

CEO Bill Laursen commented, “We are excited about our performance in the third quarter of 2020, which was characterized by a strong improvement in gross profit and significantly increased Adjusted EBITDA. We are pleased to report that we had successive quarters of profitability which is attributable to the accomplishments of our team as we work to complete the turn-around we began less than two years ago. As an essential services provider, we believe that we have fared comparatively well given the unpredictable impacts of the pandemic as demonstrated by our 30.1% increase in revenues. While we, like all companies, face continued uncertainty during these difficult times, we credit the resiliency of our workforce with these healthy gains.”

CFO Wayne Coll commented, “On August 25, 2020, we announced that we entered into a purchase and sale agreement for the sale and leaseback of our main manufacturing facility. The transaction was subject to a number of conditions and was expected to close in the fourth quarter of 2020. We continue to work through due diligence matters with purchaser, and now expect the closing of the sale-leaseback to take place by the end of the fourth quarter of 2020 or within the first quarter of 2021.”

About Micron Solutions, Inc.

Micron Solutions, Inc., through its wholly-owned subsidiary, Micron Products, Inc., is a diversified contract manufacturing organization that produces highly-engineered, innovative medical device components requiring precision machining and injection molding. The Company also contract manufactures components, devices and equipment for military, law enforcement, industrial and automotive applications. In addition, the Company is a market leader in the production and sale of silver/silver chloride coated and conductive resin sensors used as consumable component parts in the manufacture of integrated disposable electrophysiological sensors. The Company’s strategy for growth is to build a best-in-class contract manufacturer with a specialized focus on plastic injection molding and highly-engineered medical devices and components requiring precision machining.

The Company routinely posts news and other important information on its website: http://www.micronsolutions.com

FINANCIAL TABLES FOLLOW.

Third Quarter 2020 (unaudited) 
 
$ In thousands Q3 2020 Q3 2019 $ Change % Change
Net sales $ 5,636   $ 4,331   $ 1,305     30.1  
Gross profit $ 1,298   $ 517   $ 781     151.1  
Gross margin   23.0 %   9.2 %        
Net Income (loss) $ 324   $ (507 ) $ 831               
Net Income (loss) per share, basic $ 0.11   $ (0.16 ) $ .27        
Net Income (loss) per share, diluted $ 0.11   $ (0.16 ) $ .27        

 
MICRON SOLUTIONS, INC.
EBITDA RECONCILIATION
(1)
($ in thousands) 
           
  Three Months Ended
  September 30,
  2020   2019
Net income (loss) $ 324      $ (507 )
Interest expense   69       110  
Depreciation and amortization   317       358  
Share-based compensation   6       52  
Non-cash incentive plan accruals   50       50  
Non-recurring (income) expenses   –       (17 )
Adjusted EBITDA $            766     $ 80  
Adjusted EBITDA margin %   13
.
6 		%     1.
9 		%
               



(1)



Non-GAAP Financial Measures


In addition to reporting net income (loss), a U.S. generally accepted accounting principle (“GAAP”) measure, this news release contains information about Adjusted EBITDA (income from continuing operations adjusted for income taxes, interest, depreciation and amortization, share-based compensation expense and certain non-recurring income and expenses), which is a non-GAAP measure. Share-based compensation includes directors fees paid by means of stock grants versus cash as well as non-cash incentives. The Company believes Adjusted EBITDA allows investors to view its performance in a manner similar to the methods used by management and provides additional insight into its operating results. Adjusted EBITDA is not calculated through the application of GAAP. Accordingly, it should not be considered as a substitute for the GAAP measure of net income (loss) and, therefore, should not be used in isolation of, but in conjunction with, the GAAP measure. The use of any non-GAAP measure may produce results that vary from the GAAP measure and may not be comparable to a similarly defined non-GAAP measure used by other companies.

Safe Harbor Statement

Forward-looking statements made herein, including but not limited to, the duration and effect of Covid-19 on our results of operations and business, the timing and effect of our turnaround plan, the resiliency of our workforce, and the terms, conditions and timing on closing a sale leaseback transaction are based on current expectations of Micron Solutions, Inc. (“our” or the “Company”) that involve a number of risks and uncertainties and should not be considered as guarantees of future performance. Therefore, actual results may differ materially from what is expressed in or implied by these forward-looking statements. The factors that could cause our actual results of operations, financial condition, performance or achievements to be affected materially include, but are not limited to, our ability to obtain and retain order volumes from customers who represent significant proportions of net sales; our ability to maintain our pricing model, offset higher costs with price increases and/or decrease our cost of sales; variability of customer delivery requirements; the level of and ability to generate sales of higher margin products and services; our ability to manage our level of debt and provisions in the debt agreements which could make the Company sensitive to the effects of economic downturns and limit our ability to react to changes in the economy or our industry; failure to comply with financial and other covenants in our credit facility; our ability to refinance the terms of our credit facility on commercially reasonable terms or at all; the impact on the Company’s financial results due to economic uncertainty and disruption including, but not limited to, recent events concerning COVID-19; changes to regulations governing the forgiveness of the Company’s PPP Loan; reliance on revenues from exports and impact on financial results due to economic uncertainty or downturns in foreign markets; volatility in commodity and energy prices and our ability to offset higher costs with price increases; continued availability of supplies or materials used in manufacturing at competitive prices; variations in the mix of products sold; continued availability of supplies or materials used in manufacturing at competitive prices; the amount and timing of investments in capital equipment, sales and marketing, engineering and information technology resources; and the terms, timing, and ability to close the sale-leaseback transaction. The Company assumes no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise. More information about the Company’s financial results is included in the Company’s most recent Annual Report on Form 10-K, and the Company’s Quarterly Report for the period ending September 30, 2020, which is posted at https://www.otcmarkets.com/stock/MICR/ and https://micronsolutions.com/.

For more information, contact:
 
Mr. Wayne Coll
Chief Financial Officer
978.345.5000



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Federman & Sherwood Announces Filing of Securities Class Action Lawsuit Against Interface, Inc.

 Federman & Sherwood Announces Filing of Securities Class Action Lawsuit Against Interface, Inc.

OKLAHOMA CITY–(BUSINESS WIRE)–
Federman & Sherwood announces that on November 12, 2020, a class action lawsuit was filed in the United States District Court for the Eastern District of New York against Interface, Inc. (NASDAQ: TILE). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is March 2, 2018 through September 28, 2020.

To learn how to participate in this action, please visit https://www.federmanlaw.com/blog/federman-sherwood-announces-the-filing-of-a-securities-class-action-lawsuit-against-interface-inc/.

Plaintiff seeks to recover damages on behalf of all Interface, Inc. shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above. You may move the Court no later than Monday, January 11, 2021 to serve as a lead plaintiff for the entire Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.

If you wish to discuss this action, obtain further information and participate in this or any other securities litigation, or should you have any questions or concerns regarding this notice or preservation of your rights, please contact:

Robin Hester

FEDERMAN & SHERWOOD

10205 North Pennsylvania Avenue

Oklahoma City, OK 73120

Email to: [email protected]

Or, visit the firm’s website at www.federmanlaw.com

Robin Hester

[email protected]

KEYWORDS: Oklahoma United States North America

INDUSTRY KEYWORDS: Legal Professional Services

MEDIA:

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Dominion Energy Warns Customers About Expected Surge in Scams During Holidays

– Customers urged to remain vigilant as scams increase during holidays

– Company provides helpful tips to identify scam activity, including aggressive threats, insistence on immediate payment

– Customers encouraged to use Dominion Energy app to verify account balance, payment due date

PR Newswire

RICHMOND, Va., Nov. 16, 2020 /PRNewswire/ — As the holiday season approaches, Dominion Energy is helping its customers prepare for an expected increase in scam activity. Throughout Utility Scam Awareness Week (Nov. 16 – 20), the company is providing its customers with helpful tips and resources so they can easily spot and protect themselves against the most common utility scams.

“We want our customers to have the information and resources they need to protect themselves against scams,” said Corynne Arnett, Dominion Energy’s senior vice president of regulatory affairs and customer experience. “Utility scammers are very sophisticated, and they use a variety of tactics to take advantage of you. Sometimes they will use scare tactics and a false sense of urgency to obtain your personal information, while other times they will sound friendly and sympathetic to gain your trust. The most important thing to remember is Dominion Energy will never demand payment information over the phone. If you suspect you’re the target of a scam, hang up and you can always verify your account information on the Dominion Energy app.” 

Here are some easy tips to help customers spot a utility scam and the immediate steps they can take to protect themselves:

Spot a scam:  

  • Dominion Energy will never threaten immediate service disconnection if payment information is not provided over the phone.
  • The company will never ask for payment using money orders, prepaid debit or gift cards.  
  • Company employees will never request to enter a customer’s home without proper identification, an appointment or a reported emergency. Additionally, employees do not ask for payment in person.

Outsmart a scammer:  

  • Hang up. If a customer is unsure if a call is valid, even if Dominion Energy’s number shows on the caller ID, they should immediately hang up and never provide personal information.  
  • Verify. Customers can verify their account status, balances or due dates by signing into the Dominion Energy app, checking their online account, or by calling the number located on their energy bill. 
  • Ignore. Customers should not respond to suspicious emails or text messages or click on links or attachments prompting energy bill payment. 
  • Report. Tell local authorities about suspicious calls, texts and emails.

Connect with the company:  

  • Access many payment options conveniently 24/7 by signing into the Dominion Energy app or online account.
  • Call the number located on the energy bill for account questions. Company representatives will work with customers to determine the best payment option for their unique situation. Both short-term payment extensions and long-term payment plans are available.  
  • Learn about Dominion Energy’s additional contributions to its energy assistance programs and support of various community partners to help customers facing financial hardship. 

For more scam prevention tips, visit dominionenergy.com/our-stories/scammers-and-personal-safety. 

About Dominion Energy 
More than 7 million customers in 16 states energize their homes and businesses with electricity or natural gas from Dominion Energy (NYSE: D), headquartered in Richmond, Va. The company is committed to sustainable, reliable, affordable and safe energy and to achieving net zero carbon dioxide and methane emissions from its power generation and gas infrastructure operations by 2050. Please visit DominionEnergy.com to learn more. 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/dominion-energy-warns-customers-about-expected-surge-in-scams-during-holidays-301173731.html

SOURCE Dominion Energy

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Abbott Named Industry Sustainability Leader for the Eighth Year in a Row on the Dow Jones Sustainability Index (DJSI)

– Abbott achieves top industry scores in governance/economic and social performance, earns more than triple the average industry score in its industry sector

– Company recognized for sustainability on DJSI for 16 consecutive years

– Abbott to introduce its 2030 sustainability plan later this year

PR Newswire

ABBOTT PARK, Ill., Nov. 16, 2020 /PRNewswire/ — For the eighth consecutive year, Abbott (NYSE: ABT) has been named the industry leader in sustainability by the Dow Jones Sustainability Index (DJSI), one of the most prestigious global benchmarks for corporate sustainability. As the Global Industry Leader in the Health Care Equipment & Supplies sector, the company earned top scores for governance/economic and social performance. This is the 16th consecutive year that Abbott has been recognized as a sustainability leader through its inclusion on the DJSI, including both the Dow Jones Sustainability World Index and North America Index.

“Sustainability in health care is about designing accessibility and affordability into the life-changing health technologies and products we create to help more people live healthier, fuller lives,” said Robert B. Ford, president and chief executive officer, Abbott. “Abbott people have risen to that challenge this year, producing seven tests to help fight COVID-19 while continuing to advance new innovations in critical areas like diabetes, heart disease and nutrition, ultimately reaching nearly 2 billion people.”

Abbott’s overall score of 86 was more than triple the average score of 28 for other companies in its industry sector. Abbott achieved the top industry score in 11 of DJSI’s 25 specific governance/economic, social and environmental criteria, including strategy to improve access to drugs or products, health outcome contribution, social reporting, human capital development, risk & crisis management, information security/cybersecurity & systems availability, customer relationship management, marketing practices, environmental reporting, operational eco-efficiency and occupational health and safety.

In addition to being included on DJSI, Abbott was named the 2020 World-Changing Company of the Year by Fast Company and was highlighted on Fortune’s Change the World list. Abbott was also ranked No. 1 for social responsibility in its industry sector on Fortune’s Most Admired Companies list for seven consecutive years (2014-2020), and was named one of the 100 Best Corporate Citizens by 3BL Media for 12 consecutive years (2009-2020).

Abbott’s continued recognition demonstrates our longstanding commitment to sustainable, responsible business. Looking ahead, Abbott will further extend this commitment with the launch of its 2030 sustainability plan later this year. With forward-looking targets closely aligned to Abbott’s purpose of helping people live fuller lives through better health, our 2030 plan will build a stronger, more sustainable Abbott that better serves the many people who depend on us.

To learn more about Abbott’s strategic approach to sustainability, please visit abbott.com/sustainability.

For additional information on DJSI, please see the news release and DJSI Corporate Sustainability Assessment site.  

About Abbott
Abbott is a global healthcare leader that helps people live more fully at all stages of life. Our portfolio of life-changing technologies spans the spectrum of healthcare, with leading businesses and products in diagnostics, medical devices, nutritionals and branded generic medicines. Our 107,000 colleagues serve people in more than 160 countries.

Connect with us at www.abbott.com, on LinkedIn at www.linkedin.com/company/abbott-/, on Facebook at www.facebook.com/Abbott and on Twitter @AbbottNews.

 

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SOURCE Abbott

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Norton Rose Fulbright appoints Richard Krumholz as Global Head of Litigation and Disputes

Steve Jansma named firm’s US Co-Head of Litigation and Disputes

Dallas, Texas, Nov. 16, 2020 (GLOBE NEWSWIRE) — Norton Rose Fulbright’s Global Chief Executive Gerry Pecht today appointed Richard Krumholz as the law firm’s new Global Head of Litigation and Disputes. Krumholz will lead one of the world’s largest Litigation and Disputes Practice Groups, with more than 1,200 lawyers across 52 cities worldwide.

Krumholz succeeds Gerry Pecht in this leadership role, following Pecht’s recent election to Global Chief Executive. Krumholz has led the US Litigation and Disputes Practice Group since 2014.

With his global appointment, Krumholz will now share leadership duties of the US Litigation and Disputes Practice Group, which consists of approximately 350 lawyers in 11 cities. Steve Jansma, the firm’s US Head of Products, Pharma, Medical and Mass Tort, assumes the role of US Co-Head of Litigation and Disputes alongside Krumholz.

Gerry Pecht, Norton Rose Fulbright’s Global Chief Executive, said:

“Richard has proven himself as a dynamic and inspiring leader of some of the finest litigators in the world, and this experience makes him a perfect fit to lead our global disputes group. He understands and embraces the client-focused commitment and strategies the firm has always embodied, and the collaboration that is critically important to managing our world-leading practice.”

Norton Rose Fulbright advises many of the world’s largest corporations and financial institutions on complex, high-value and sensitive multijurisdictional disputes. The Global Litigation and Disputes Practice Group has lawyers working across the United States, Europe, Asia, Canada, Latin America, Australia, Africa and the Middle East.

Krumholz, who is a member of Norton Rose Fulbright’s Global Executive Committee, said:

“Around the globe, Norton Rose Fulbright is known as a trusted advisor to clients in some of the most important matters they face, both in particular regions and in cross-border disputes and investigations. Our partners have a well-deserved reputation for achieving exceptional results for clients, with our industry focus and innovative efficiencies providing important competitive advantages. I look forward to working with our partners across the globe to build on our successes.”

Krumholz continues to represent clients in a broad range of disputes, including complex business disputes, securities/merger litigation, multijurisdictional qui tam cases, bankruptcy adversary proceedings, energy litigation and multi-district litigation. He has litigated and tried cases in state and federal courts and in arbitration proceedings in the US and before international tribunals, representing telecommunications, energy and financial institution clients in bet-the-company litigation.

Jansma has a national practice defending mass tort and complex product liability disputes. Jansma has served as national and regional coordinating counsel and lead trial counsel for numerous Fortune 500 companies in multi-district litigation, class actions and product liability.

Krumholz and Jansma have both spent nearly three decades at Norton Rose Fulbright, as both joined the law firm in 1992.


Notes for editors:

Norton Rose Fulbright

Norton Rose Fulbright is a global law firm providing the world’s preeminent corporations and financial institutions with a full business law service. The firm has more than 4,000 lawyers and other legal staff based in Europe, the United States, Canada, Latin America, Asia, Australia, Africa and the Middle East.

Recognized for its industry focus, Norton Rose Fulbright is strong across all the key industry sectors: financial institutions; energy; infrastructure, mining and commodities; transport; technology and innovation; and life sciences and healthcare. Through its global risk advisory group, the firm leverages its industry experience with its knowledge of legal, regulatory, compliance and governance issues to provide clients with practical solutions to the legal and regulatory risks facing their businesses.

Norton Rose Fulbright operates in accordance with its global business principles of quality, unity and integrity, aiming to provide the highest possible standard of legal service in each of its offices and to maintain that level of quality at every point of contact.

Norton Rose Fulbright Verein, a Swiss verein, helps coordinate the activities of Norton Rose Fulbright members but does not itself provide legal services to clients. Norton Rose Fulbright has offices in more than 50 cities worldwide, including London, Houston, New York, Toronto, Mexico City, Hong Kong, Sydney and Johannesburg.

For more information, see nortonrosefulbright.com/legal-notices.

Law around the world

nortonrosefulbright.com

Attachment 



Dan McKenna
Norton Rose Fulbright
+1 713 651 3576
[email protected]

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Greenbacker Renewable Energy Company LLC Acquires Solar Portfolio Totaling 80 MW

New York, NY, Nov. 16, 2020 (GLOBE NEWSWIRE) — Greenbacker Renewable Energy Company LLC (“GREC”) announced today that, through a wholly-owned subsidiary, it purchased a to-be-constructed 80 MW solar project from Broad Reach Power LLC. The project, Fall River Solar, is located in Fall River County, South Dakota and has a 20-year Power Purchase Agreement (“PPA”) in place with the investment-grade utility Black Hills Power, Inc. (“BHP”). Greenbacker will oversee the construction which is expected to reach COD in Q4 2022.

“We’re excited to have worked with Broad Reach Power on our largest solar project to date.” said Charles Wheeler, CEO of Greenbacker. “Expanding our solar portfolio in South Dakota will provide a clean energy option and a source for local employment in the state. We see tremendous potential in large scale pipeline investments such as Fall River Solar for both the people of South Dakota and our shareholders.”

“We also enjoyed our collaboration with the Greenbacker team and look forward to seeing this project continue to advance,” added Broad Reach Power Managing Partner and Chief Executive Officer Steve Vavrik.

With the acquisition of Fall River Solar, Greenbacker will own approximately 753.5 MW of generating capacity (including assets that are to be constructed), comprising 529.8MW of utility-scale and distributed solar facilities, 192.6MW of wind facilities, 19.1 MW of battery storage, and 12.0MW of biomass facilities.


About Greenbacker Renewable Energy Company

Greenbacker Renewable Energy Company LLC is a publicly reporting, non-traded limited liability energy company that acquires and manages income-generating renewable energy and energy efficiency projects, and other energy-related businesses. The projects in which we invest, such as solar and wind facilities, sell power under long-term contract to high credit worthy counterparties such as utilities, municipalities, and corporations. For more information, please visit www.greenbackercapital.com.


About Broad Reach Power

Broad Reach Power is a utility-scale storage independent power producer (IPP) based in Houston backed by leading energy investors EnCap Investments L.P., Yorktown Partners, and Mercuria Energy. The company owns a five gigawatt portfolio of utility scale solar and energy storage power projects in Montana, California, Wyoming, Utah and Texas which give utilities, generators and customers access to technological insight and tools for managing merchant power risk so they can better match supply and demand. Broad Reach is led by a team comprised of solar, wind, and storage experts who have delivered more than four gigawatts of projects and have a combined 80 years of experience in the field. For more information about the company, visit www.broadreachpower.com. 


Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. Although Greenbacker believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. Greenbacker undertakes no obligation to update any forward-looking statement contained herein to conform to actual results or changes in its expectations.

Media Contacts:

Greenbacker:

Joseph Kuo / Chris Clemens
Haven Tower Group
424 317 4851 or 424 317 4854
[email protected]		 Broad Reach Power

Mike Gehrig
Pierpont Communications
512 448-4950
[email protected]



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Cerevance’s CVN058 Achieves Primary Endpoint in Phase Ib Schizophrenia Cognition Study

Positive results with biomarker of cerebral cortical dysfunction raises hope for treatment of cognitive impairment associated with schizophrenia

BOSTON, Nov. 16, 2020 (GLOBE NEWSWIRE) — Cerevance, a private drug discovery and development company focused on brain diseases, today announced positive results from a Phase 1b clinical trial evaluating the company’s oral compound, CVN058, in a biomarker study evaluating its potential as a treatment for cognitive impairment associated with schizophrenia (CIAS).

“A single dose of CVN058 elicited a statistically significant improvement in mismatch negativity (MMN), an auditory evoked potential generated in the cerebral cortex that is typically impaired in schizophrenics,” noted David H. Margolin, M.D., Ph.D., senior vice president of clinical and translational medicine at Cerevance. “The normalization of MMN brainwaves, a biomarker of cortical dysfunction, leads us to believe our approach can potentially improve diverse aspects of cognition in schizophrenic patients.”

CVN058 is a novel, brain-penetrant, small-molecule antagonist of the type 3 receptor for serotonin, an important neurotransmitter. The Phase 1b, double-blind, placebo-controlled, three-period cross-over study evaluated CVN058 target engagement in the cerebral cortex by measuring mismatch negativity (MMN) as a pharmacodynamic marker.

Nineteen male and female subjects with schizophrenia or schizoaffective disorder, aged 18 to 50 years old, received a single oral dose of CVN058 (low-dose, 15 mg or 75 mg; high-dose, 150 mg) or matching placebo at each study visit. MMN and other cortical biomarkers were recorded in the hours after dosing. The sequence in which a subject took each of the three regimens was randomized, with a minimum of a seven-day washout between doses. These treatments had no serious or severe adverse effects.

The number of diagnosed prevalent cases of schizophrenia with comorbid cognitive impairment is expected to exceed 4 million in the seven major pharmaceutical markets in 2022. Cognitive impairment associated with schizophrenia (CIAS)—which may include deficits in attention, working memory and executive function—has a negative impact on patients’ quality of life and ability to function. Although cognitive symptoms in schizophrenia are well characterized, no formal diagnostic criteria exist. Furthermore, no pharmacological agents are approved to treat the condition, and no marketed therapy tested to date has established clear, meaningful efficacy, which underscores the difficulty of drug development in this arena and accentuates the need for proven treatment options.

“The cognitive impairment experienced by many patients with schizophrenia desperately needs an effective treatment,” said Daniel C. Javitt, M.D., Ph.D., lead investigator and a world-renowned researcher in the study of schizophrenia and cognition. Dr. Javitt directs the Schizophrenia Research Program at the Nathan S. Kline Institute for Psychiatric Research and is also Professor and Director of the Division of Experimental Therapeutics in the Department of Psychiatry and Neuroscience at Columbia University College of Physicians and Surgeons. “We are very encouraged by CVN058’s results in our MMN translational study and look forward to confirming its potential cognitive benefits in future clinical trials.”

About Cerevance

Cerevance, a private, clinical-stage pharmaceutical company focused on brain diseases, is applying a new technology, called NETSseq, to reveal transcriptional and epigenetic differences between specific cell types in mature human brains. NETSseq profiles neuronal and glial cell populations at depths not possible with other approaches, generating unprecedented data sets and insights. The company has thus far partnered with 17 brain banks around the world to assemble a growing collection of more than 8,000 clinically annotated, human brain tissue samples from healthy and diseased donors spanning nine decades in age. By applying NETSseq to specific cell types critical to circuits disrupted by disease and comparing vulnerable and resilient cell populations, Cerevance’s scientists have begun identifying targets and advancing a pipeline of novel therapeutics that modulate them for CNS diseases.

Contacts

Cerevance:

Robert Middlebrook, +1-408-220-5722

Media:

Andrew Mielach, [email protected], +1-646-876-5868



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ROSEN, A TOP RANKED LAW FIRM, Announces Filing of Securities Class Action Lawsuit Against Wells Fargo & Company – WFC

ROSEN, A TOP RANKED LAW FIRM, Announces Filing of Securities Class Action Lawsuit Against Wells Fargo & Company – WFC

NEW YORK–(BUSINESS WIRE)–
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 Wells Fargo & Company (NYSE: WFC) between October 13, 2017 and October 13, 2020, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Wells Fargo investors under the federal securities laws.

To join the Wells Fargo class action, go to http://www.rosenlegal.com/cases-register-1985.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.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Wells Fargo had systematically failed to follow appropriate underwriting standards and due diligence guidelines in issuing billions of dollars’ worth of commercial loans, including by inflating the net income and future expected cash flows of its commercial clients to justify issuing excessive loan amounts; (2) a materially higher proportion of Wells Fargo’s commercial loan customers were of poor credit quality and/or at a substantially higher risk of default than disclosed to investors; (3) Wells Fargo had failed to timely write down commercial loans, collateralized loan obligations (“CLOs”) and commercial mortgage backed securities (“CMBS”) on its books that had suffered impairments; (4) Wells Fargo had materially understated the reserves needed for expected credit losses in its commercial portfolios; (5) Wells Fargo had systematically misrepresented the credit quality and likelihood of default of the loans it packaged and securitized into CLOs and CMBS, including by artificially inflating the net income and expected cash flows of its commercial clients in loan and securitization documentation; (6) the CLO and CMBS-related loans issued and investment securities held by Wells Fargo were of lower credit quality and worth far less than represented to investors; (7) as a result of the foregoing, Wells Fargo’s Class Period statements regarding the credit quality of its commercial loans, its underwriting and due diligence practices, and the value of its CLO and CMBS books were materially false and misleading and (8) as a result of the foregoing, Wells Fargo was exposed to severe undisclosed risks of financial, reputational and legal harm, in particular in the event of significant and sustained stress in the commercial credit markets. When the true details entered the market, the lawsuit claims that investors suffered damages.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 29, 2020. 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-1985.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.

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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.

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

KEYWORDS: United States North America New York

INDUSTRY KEYWORDS: Legal Professional Services

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