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JACKSONVILLE, FL, Nov. 12, 2020 (GLOBE NEWSWIRE) — Shepherd’s Finance, LLC (“Shepherd’s,” the “Company,” “we,” or “our”) announced its operating results for the quarter and nine months ended September 30, 2020.

2020 Overview to Date

The Company has been impacted by and continues to face risks related to COVID-19, which has caused disruptions to the economy and in all of the markets in which the Company lends. The Company’s operating results depend significantly on the homebuilding industry.

As of June 30, 2020, the Company had 46 loans at a gross loans receivable balance of approximately $13.0 million which were impaired primarily due to COVID-19. In addition, we recognized approximately $1.5 million in loan loss expense and approximately $0.1 million in impairment loss of foreclosed assets during the quarter ended June 30, 2020.

As of September 30, 2020, the Company had 37 loans at a gross loans receivable balance of approximately $11.9 million which were impaired primarily due to COVID-19. In addition, we reversed approximately $0.2 million in loan loss expense and approximately $27,000 in impairment loss of foreclosed assets during the quarter ended September 30, 2020 related to write offs from the quarter ended June 30, 2020.

The Company continues to lose interest income on assets that do not accrue interest. During the quarters ended June 30 and September 30, 2020, the estimated loss on interest income related to impaired and foreclosed assets was approximately $0.6 million and approximately $0.5 million, respectively. Looking ahead, we expect the estimated loss on interest income related to impaired and foreclosed assets to decrease by year end and again by the end of the first quarter of 2021. We anticipate the lack of interest income will primarily be resolved by the end of the first quarter of 2021.

Finally, loan originations decreased prior to and during the COVID-19 pandemic which impacts our earnings through the loss of fee income. Loan originations and fee income for the first six months of 2020 and 2019 was approximately $18.5 million and approximately $0.8 million and approximately $32.9 million and approximately $1.3 million, respectively. For the quarter ended September 30, 2020, loan originations increased to approximately $21.4 million compared to approximately $13.1 million for the same period of 2019 and we anticipate this rate of increase to continue through the fourth quarter of 2020 and first quarter of 2021.

2020 Financial Highlights to Date

●	Interest and Fee Income – Interest and fee income on loans decreased approximately $0.7 million, or 26.6%, to approximately $1.9 million for the quarter ended September 30, 2020, compared to the same period of 2019. Interest and fee income on loans decreased approximately $1.6 million, or 22.0%, to approximately $5.8 million for the nine months ended September 30, 2020, compared to the same period of 2019.
●	Net income (loss) – Net income (loss) decreased approximately $0.1 million and approximately $2.8 million to approximately $0.1 million and approximately ($2.2) million for the quarter and nine months ended September 30, 2020, respectively, compared to the same periods of 2019.

The Chief Executive Officer of Shepherd’s Finance, Daniel M. Wallach, commented: “We returned to profitability in the third quarter after the impact of COVID-19 on our second quarter earnings. We are paying all of our investors interest and principal when due and we plan on continuing to do so. We are focused on executing the Company’s current business plan, which has three primary goals, as follows:

1. Reduce non-accruing real estate loans (with a goal returning to normal levels by the second quarter of 2021);
2. Continue to originate new loans with certain customers at profitable levels; and
3. Increase capital and reduce nonperforming assets to ensure we have the funds to create new loans.

We anticipate a profit the last quarter of the year, however, not enough to make up for losses incurred in the second quarter. We appreciate the continued support of our investors.”

Results of Operations

●	Interest income decreased approximately $0.5 million to approximately $1.5 million and approximately $0.9 million to approximately $4.6 million for the quarter and nine months ended September 30, 2020, respectively, compared to the same periods of 2019. The decrease was due primarily to direct write offs of interest income of approximately $0.5 million for the nine months ended September 30, 2020. In addition, the Company estimated approximately $0.4 million and approximately $0.8 million in reduced interest income for the quarter and nine months ended September 30, 2020 due to non-performing loans not accruing interest as a result of COVID-19.
●	Fee income decreased approximately $0.2 million to approximately $0.4 million and approximately $0.8 million to approximately $1.2 million for the quarter and nine months ended September 30, 2020, respectively, compared to the same periods of 2019. The increase in originations for the quarter ended September 30, 2020 was primarily due to stronger demand and less competition. The decrease in originations for the nine months ended September 30, 2020 was primarily due to the impact of the COVID-19 pandemic.
●	Loan loss provision increased approximately $0.1 million to approximately $0.1 million and approximately $1.5 million to approximately $1.7 million for the quarter and nine months ended September 30, 2020, respectively, compared to the same periods of 2019. The increase was due primarily to impairment on loans related to COVID-19.
●	Gain on sale of foreclosed assets increased approximately $0.1 million for the both quarter and nine months ended September 30, 2020 compared to the same periods of 2019. During the quarter ended September 30, 2020, the Company sold four foreclosed assets with a gain on sale of approximately $0.1 million compared to none for the same period of 2019. During the nine months ended September 30, 2020, the Company sold five foreclosed assets with a gain on sale of approximately $0.1 million compared to none for the same period of 2019.
●	Impairment gain on foreclosed assets increased approximately $0.1 million during both the quarter and nine months ended September 30, 2020, compared to the same periods of 2019. The increase was due primarily to percentage of completion of foreclosed assets increasing while costs remained low. In addition, during the third quarter of 2020, the Company reversed approximately $27,000 in losses recognized during the second quarter of 2020.
●	Loss on sale of foreclosed assets decreased approximately $0.2 million to approximately $0.1 million for both the quarter and nine months ended September 30, 2020, compared to the same periods of 2019. The decreases related primarily to the sale of four and five foreclosed assets during the quarter and nine months ended September 30, 2020, respectively. During both the quarter and nine months ended September 30, 2019, the Company sold one foreclosed asset for a loss of approximately $0.3 million.
●	Impairment loss on foreclosed assets increased approximately $4,000 and approximately $0.1 million for the quarter and nine months ended September 30, 2020, compared to the same periods of 2019. During the nine months ended September 30, 2020, the Company recognized approximately $0.1 million in impairment loss on foreclosed assets due to COVID-19.

Balance Sheet Management

●	Cash totaled approximately $3.2 million as of September 30, 2020, compared to approximately $1.9 million as of December 31, 2019. The increase in cash was one result of management’s responses and changes to lending procedures related to the uncertainty created by the COVID-19 pandemic.
●	Loans receivable, net totaled approximately $48.0 million as of September 30, 2020, compared to approximately $55.4 million as of December 31, 2019. As of September 30, 2020, loans receivable, net included approximately $9.1 million of impaired loans due to COVID-19.
●	Foreclosed assets totaled approximately $3.7 million and approximately $4.9 million as of September 30, 2020 and December 31, 2019, respectively. As of September 30, 2020, approximately $0.3 million of additional loans were reclassified from loans receivable, net to foreclosed assets compared to approximately $3.4 million as of December 31, 2019.
●	Notes payable unsecured, net totaled approximately $26.5 million as of September 30, 2020 and December 31, 2019. A significant portion of our notes payable unsecured, net was from our public note offerings, constituting approximately $20.9 million and approximately $19.9 million as of September 30, 2020 and December 31, 2019, respectively.
●	Notes payable secured, net totaled approximately $22.8 million as of September 30, 2020, compared to approximately $27.0 million as of December 31, 2019. The decrease resulted primarily from lower balances on our loan purchase and sale agreements which decreased approximately $4.0 million to approximately $22.8 million as of September 30, 2020 compared to the year ended December 31, 2019.

 Interest Rates for the Subordinated Notes Program – Shepherd’s offers the following interest rates for its public notes offering, effective as of June 4, 2020:

Maturity (Duration)		Annual Interest Rate				Annual Effective Yield (i)				Effective Yield to Maturity (ii)
12 Months			7.00	%			7.23	%			7.23	%
24 Months			8.00	%			8.30	%			17.29	%
36 Months			5.00	%			5.12	%			16.15	%
48 Months			10.00	%			10.47	%			48.94	%

(i)	The Annual Effective Yield is determined by taking the Annual Interest Rate as a decimal and dividing it by 12 for a monthly rate, then taking that rate plus 1 and multiplying that by itself 11 more times, then subtracting the one back off and converting back to a percentage. For instance, for an Annual Interest Rate of 7.00%, we take .07/12 which is 0.0058 plus 1 which is 1.0058, and then multiply 1.0058 by itself 11 more times which yields 1.0723, then subtracting off the 1, leaving 0.0723, and finally converting to a percentage, which gives us an Annual Effective Yield of 7.23%.
(ii)	The Effective Yield to Maturity is determined by taking the Annual Interest Rate as a decimal and dividing it by 12 for a monthly rate, then taking that rate plus 1 and multiplying that by itself by (the total number of months of the investment minus one) times, then subtracting the one back off and converting back to a percentage. For instance, for a 48 month investment with an Annual Interest Rate of 10.00%, we take .10/12 which is 0.0083333 plus 1 which is 1.0083333, and then multiply 1.0083333 by itself 47 more times which yields 1.4894, then subtracting off the 1, leaving 0.4894, and finally converting to a percentage, which gives us an Effective Yield To Maturity of 48.94%.

About Shepherd’s Finance, LLC

Shepherd’s Finance, LLC is headquartered in Jacksonville, Florida and is focused on commercial lending to participants in the residential construction and development industry. As of September 30, 2020, Shepherd’s Finance, LLC had approximately $48.0 million in loan assets with 235 construction and eight development loans in 21 states with 67 borrowers. For more information, please visit http://www.shepherdsfinance.com.

Forward Looking Statements

This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as “may,” “will,” “expect,” “intend,” “anticipate,” “estimate,” “believe,” “continue,” or other similar words. Because such statements include risks, uncertainties, and contingencies, actual results may differ materially from the expectations, intentions, beliefs, plans, or predictions of the future expressed or implied by such forward-looking statements. These risks, uncertainties, and contingencies include, but are not limited to: uncertainties relating to the effects of COVID-19; the length of the COVID-19 pandemic and severity of such outbreak nationally and across the globe; the pace of recovery following the COVID-19 pandemic; general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth; the rate and the pace of economic recovery following economic downturns; and those other risks described in other risk factors as outlined in our Registration Statement on Form S-1, as amended, and our Annual Report on Form 10-K. The Company undertakes no obligation to update these statements following the date of this press release, except as required by law. In addition, the Company, through its senior management, may make from time to time forward-looking public statements concerning the matters described herein. Such forward-looking statements are necessarily estimates reflecting the best judgment of the Company’s senior management based upon current information and involve a number of risks and uncertainties. Certain factors that could affect the accuracy of such forward-looking statements are identified in the public filings made by the Company with the Securities and Exchange Commission, and forward-looking statements contained in this press release or in other public statements of the Company or its senior management should be considered in light of those factors. This is neither an offer nor a solicitation to purchase securities.

 Shepherd’s Finance, LLC
Interim Condensed Consolidated Balance Sheets

(in thousands of dollars)		September 30, 2020				December 31, 2019
		(Unaudited)
Assets
Cash and cash equivalents		$	3,150			$	1,883
Accrued interest receivable			748				1,031
Loans receivable, net			47,984				55,369
Real estate investments			1,154				–
Foreclosed assets			3,690				4,916
Premises and equipment			911				936
Other assets			462				202
Total assets		$	58,099			$	64,337
Liabilities and Members’ Capital
Customer interest escrow		$	447			$	643
Accounts payable and accrued expenses			234				466
Accrued interest payable			3,047				2,533
Notes payable secured, net of deferred financing costs			22,753				26,991
Notes payable unsecured, net of deferred financing costs			26,484				26,520
PPP Loan and EIDL Advance			371				–
Due to preferred equity member			10				37
Total liabilities		$	53,346			$	57,190
Commitments and Contingencies (Note 10)
Redeemable Preferred Equity
Series C preferred equity		$	3,197			$	2,959
Members’ Capital
Series B preferred equity			1,550				1,470
Class A common equity			6				2,718
Members’ capital		$	1,556			$	4,188
Total liabilities, redeemable preferred equity and members’ capital		$	58,099			$	64,337

Shepherd’s Finance, LLC

Interim Condensed Consolidated Statements of Operations – Unaudited

For the Three and Nine Months Ended September 30, 2020 and 2019

		Three Months Ended								Nine Months Ended
		September 30,								September 30,
(in thousands of dollars)		2020				2019				2020				2019
Interest Income
Interest and fee income on loans		$	1,909			$	2,600			$	5,841			$	7,486
Interest expense:
Interest related to secured borrowings			727				746				2,354				2,196
Interest related to unsecured borrowings			793				736				2,335				2,077
Interest expense			1,520				1,482				4,689				4,273
Net interest income			389				1,118				1,152				3,213
Less: Loan loss provision			70				3				1,665				201
Net interest income after loan loss provision			319				1,115				(513	)			3,012
Non-Interest Income
Gain on sale of foreclosed assets			135				–				138				–
Gain on foreclosure of assets			–				86				–				181
Impairment gain on foreclosed assets			95				–				95				–
Total non-interest income			230				86				233				181
Income			549				1,201				(280	)			3,193
Non-Interest Expense
Selling, general and administrative			367				703				1,536				1,947
Depreciation and amortization			21				21				64				66
Loss on sale of foreclosed assets			51				274				86				274
Loss on foreclosure of assets			2				–				2				169
Impairment loss on foreclosed assets			4				–				205				107
Total non-interest expense			445				998				1,893				2,563
Net Income		$	104			$	203			$	(2,173	)		$	630
Earned distribution to preferred equity holders			104				118				322				333
Net income attributable to common equity holders		$	–			$	85			$	(2,495	)		$	297

Boston, Nov. 12, 2020 (GLOBE NEWSWIRE) — Centering Healthcare Institute (CHI) announced today that it has received $13 million in philanthropic funding to support scaling access to the Centering model throughout the United States. New multi-year grants from the Bezos Family Foundation and MacKenzie Scott, along with reinvestments from Valhalla Charitable Foundation, Imaginable Futures and Overdeck Family Foundation, will provide the organization to continue its multi-year growth strategy and make necessary technology pivots to design and offer the Centering model of group care in virtual formats. This increased accessibility will allow for the expansion of the model to reach the most vulnerable populations and continue to provide relationship-based care that improves health outcomes.

The 2020 investments add new depth to an impressive list of CHI funders, mark the largest round of funding in CHI history and reiterate confidence for the impact that Centering can have in advancing maternal and child health. With a mission to improve health, transform care and disrupt inequitable systems through its Centering model of group care, CHI seeks to improve the health and well-being of pregnant women, young children and their families. The evidence-based model known to reduce racial disparities and improve health outcomes, has a positive impact on lowering the risk of preterm birth, elevating lived experience alongside clinical care, supporting healthy parent-child interactions and increasing parental behaviors that lead to positive life outcomes for children. 

“We are honored by the support and confidence we continue to receive from funders who are committed to supporting women and children through Centering,” said Angie Truesdale, Chief Executive Officer at CHI. “This year has brought to light an even greater need for relationship-based healthcare and the challenges in delivering it. The immense support we have received will be instrumental in CHI’s efforts at making Centering available to more communities where it matters most and keeping patients connected, especially through this challenging time.”

 Through the COVID-19 pandemic, CHI, with support from its funding partners, has responded to the strong demand from the Centering community to continue Centering groups. It has awarded a total of $240,000 in small grants to sites across the country to enable Centering telehealth capabilities and help remove some of the barriers experienced in care delivery during the pandemic. In addition to the grants, CHI has also been supporting Centering sites with technical assistance, thought partnership and digital resources for adapting the Centering curricula to a virtual format.

“We are proud to partner with Centering Healthcare at this important time in their organizational growth,” said Megan Wyatt, Managing Director at the Bezos Family Foundation. “Now more than ever, parents need connection and support to build their skills and well-being so they can nurture their families. By creating strong networks of parents and providing relationship-based care, Centering Healthcare is addressing inequities and building stronger communities for children and their families.”

With two models, CenteringPregnancy® and CenteringParenting®, Centering is the only intervention that offers continuity of care from pregnancy through the critical early childhood period of health and development (P-2+) with a focus on parent activation and empowerment.  Centering reduces social isolation, creates a community of support and empowers parents with knowledge and skills to support their family’s health. The available evidence suggests that Centering has a combined effect of stress reduction, education and patient activation that brings about these impressive results.

 CenteringPregnancy was recently recognized as a recommended strategy to improve maternal and child health outcomes in the inaugural Prenatal-to-3 (PN-3) State Policy Roadmap that identifies effective policies and strategies that states should implement to build a robust and more equitable prenatal-to-3 system of care. CenteringParenting, CHI’s pediatric group care model was recognized by The Center for the Study of Social Policy (CSSP) as an innovative pediatric intervention in a study released late last year.

### 

About Centering Healthcare Institute

CHI is a national non-profit organization, based in Boston, MA, with a mission to improve health, transform care and disrupt inequitable systems through the Centering group model. With over two decades of experience as the go-to resource for group healthcare, CHI has pioneered and sustained the Centering model of group care currently offered across 560 healthcare practice sites. The evidence-based model combines health assessment, interactive learning and community building to help support positive health behaviors and drive better health outcomes. CHI partners with clinical practices to implement systems change and build the infrastructure to support a successful and sustainable Centering practice. Centering is appropriate and effective for all families and is offered in every type of healthcare setting including Federally Qualified Health Centers (FQHCs), community & hospital clinics, academic medical settings, private practice, the U.S. military and Indian Health Service. 

CenteringPregnancy® and CenteringParenting® provide the highest quality of care to families from pregnancy through age two of the child. The CenteringHealthcare® model of care is being extended to many different health conditions including groups for asthma, diabetes, opioid recovery, cancer survivors, chronic pain and other patient populations. Visit www.centeringhealthcare.org for more information.

About Bezos Family Foundation

Bezos Family Foundation is a private, independent foundation based in Seattle that believes young people are born with incredible potential and deserve supportive experiences to learn and thrive. The Foundation invests in the science of learning and partners with remarkable organizations and individuals to transform how we prepare young people from birth through high school to pursue their own path for success and meaningfully contribute to society. In addition to grantmaking, the Foundation runs four in-house programs: Bezos Scholars Program, Mind in the Making, Students Rebuild, and Vroom.

Vandana Devgan
Centering Healthcare Institute
(857) 284-7570
[email protected]

RAPIDLY APPROACHING


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AD PLAINTIFF DEADLINE


OF


NOVEMBER


2


4


, 2020

NEW YORK, Nov. 12, 2020 (GLOBE NEWSWIRE) — Wolf Haldenstein Adler Freeman & Herz LLP reminds that a federal securities class action lawsuit has been filed against Garrett Motion Inc. (“Garrett” or the “Company”) (OTC: GTXMQ) in the United States District Court for the Southern District of New York on behalf of those who purchased or acquired the securities of Garrett Motion Inc. Between   October 1, 2018 and September 18, 2020, inclusive (the “Class Period”).

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who
purchased
shar
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of
against Garrett Motion Inc
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a
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incurred losses
a
re
u
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to contact the firm
i
mmediately at

[email protected]

or (800) 575-0735 or (212) 545-4774.
You may o
btain additional information conc
erning the action
or

join the case

on our
website
,

www.whafh.com


.

If you have incurred losses in the shares of against Garrett Motion Inc., youmay,nolater than November 24, 2020, request that the Court appoint you lead plaintiff of the proposed class.   Please contact Wolf Haldenstein to learn more about your rights as an investor in the shares of Garrett Motion Inc.

CLICK HERE TO JOIN CASE

Garrett designs, manufactures and sells turbocharger, electric-boosting and connected vehicle technologies for original equipment manufacturers and the aftermarket. In October 2018, the Company formed as a spin-off of the Transportation Systems business of Honeywell International Inc. (“Honeywell”).

On August 26, 2020, before the market opened, the Company disclosed that its “leveraged capital structure poses significant challenges to its overall strategic and financial flexibility and may impair its ability to gain or hold market share in the highly competitive automotive supply market, thereby putting Garrett at a meaningful disadvantage relative to its peers.” Garrett further stated that its “high leverage is exacerbated by significant claims asserted by Honeywell against certain Garrett subsidiaries under the disputed subordinated asbestos indemnity and the tax matters agreement.”

On this news, the Company’s share price fell $3.04, or 44%, to close at $3.84 per share on August 26, 2020.

On Sunday, September 20, 2020, Garrett announced that it had filed for Chapter 11 bankruptcy.

The following business day, the New York Stock Exchange (“NYSE”) announced that it would commence proceedings to delist Garrett’s stock from the NYSE after the Company’s disclosure that it had filed for bankruptcy.

On this news, the Company’s stock began trading on the over-the-counter exchange and closed at $1.76 per share on September 22, 2020, a 12% decline from the closing price on September 18, 2020.

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at [email protected], or visit our website at www.whafh.com.

Contact:

Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: [email protected], [email protected] or [email protected]
Tel: (800) 575-0735 or (212) 545-4774

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

TAMPA, Fla., Nov. 12, 2020 (GLOBE NEWSWIRE) — Ultimate Medical Academy (UMA), a Tampa-based non-profit higher education institution with the mission of equipping and empowering students to excel in healthcare careers, will virtually host its second biannual INSIGHT HEALTHCARE SERIES,  a series of training events that bring relevant healthcare topics to the forefront, on November 17 and December 15.

This year’s series focus is mental health, and will be facilitated by licensed psychiatrist Dr. J. Andrew Chacko. The wide range of unexpected, stressful and unprecedented events that have transpired in 2020 have pushed mental health issues into the spotlight. In fact, mental health disorders have reached epidemic proportions, putting primary care and emergency departments on the front line.

Each five-hour session will help healthcare providers use screening tools for depression and substance abuse, select patient treatment plans, and perform brief interventions, in addition to other critical mental health treatment strategies. Attendees who complete the training will be able to receive Continuing Medical Education (CME) credits for completion of the course. This activity is accredited for AMA PRA Category 1 credit(s)^TM by Ultimate Medical Academy.  

“One in five adults in the United States experiences some form of mental illness,” said Geordie Hyland, Ultimate Medical Academy’s Executive Vice President. “We’re excited to be able to offer this interactive event to help equip physicians and healthcare team members with strategies and tactics for engaging their patients in difficult discussions about their physical and mental health.”

CME training activities are a critical part of the development and improvement of healthcare practice. Recent survey results from Global Education Group show CME was the number one cause for respondents to make changes to their own medical practice, with 95 percent using the information and practices they learned into their daily activities. Respondents also ranked CME as the most effective method for improving their patient care, above colleagues, peer-reviewed articles and medical science liaison visits.

For more information on the Insight Healthcare Series, visit https://go.ultimatemedical.edu/riskfactors/ or call (813) 496-7737. Click here to register.

 

About Ultimate Medical Academy:

The need for skilled healthcare workers in the United States is critical and continues to grow. Ultimate Medical Academy (UMA) is an accredited, nonprofit educational institution that helps to meet that need by equipping and empowering students to do vital work at the heart of healthcare. In addition to offering diploma and degree programs, UMA works closely with healthcare companies to connect students directly to job opportunities.

Founded in 1994 and based in Tampa, Florida, UMA offers hands-on learning at its main campus in Clearwater, Florida as well as content-rich, interactive programs through its online campus. The institution supports students through every step of their journey with access to academic support, interview and resume coaching, job search assistance, technical support and more.

UMA has more than 63,000 alumni and 14,000 students nationwide. The institution also provides continuing medical education (CME) through ongoing professional development opportunities to more than 30,000 physicians, nurses and other medical professionals throughout the U.S. annually.

UMA is institutionally accredited by the Accrediting Bureau of Health Education Schools (ABHES, www.ABHES.org) and is also accredited by the Accreditation Council for Continuing Medical Education (ACCME). The continuing medical education programs are individually accredited and are not included within the institution’s grant of accreditation from ABHES. Learn more by visiting www.ultimatemedical.edu.

Attachment

• uma insights healthcare cme

Crystal L. Lauderdale
Ultimate Medical Academy
[email protected]

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AD PLAINTIFF DEADLINE IS


DECEMBER 1


5


, 2020

NEW YORK, Nov. 12, 2020 (GLOBE NEWSWIRE) — Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed in the United States District Court for the Southern District of New York against Evolus, Inc. (“Evolus” or the “Company”) (NASDAQ: EOLS) on behalf of all persons or entities that purchased or otherwise acquired Evolus stock between February 1, 2019 and July 6, 2020, both dates inclusive (the “Class Period”).

All i
nvestors
who
purchased
shar
es
of
Evolus, Inc. and incurred losses are urged to contact the firm immediately at [email protected] or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the caseon our website, www.whafh.com.

If you have incurred losses in the shares of Evolus, Inc., youmay,nolater thanDecember 15, 2020, request that the Court appoint you lead plaintiff of the proposed class.   Please contact Wolf Haldenstein to learn more about your rights as an investor in the shares of Evolus, Inc.

CLICK HERE TO JOIN CASE

On July 6, 2020, the Initial Final Determination was issued by the United States International Trade Commission (“ITC”) in a case brought by Allergan and Medytox against Evolus, asserting that Evolus stole certain trade secrets to develop Jeuveau™. The ITC Judge determined that the Company misappropriated the botulinum toxin strain as well as the manufacturing processes that led to its development and manufacture. As a result, the ITC Judge recommended a ten-year long ban on the Company’s ability to import Jeuveau™ into the United States and a ten-year-long cease and desist order preventing Evolus from selling Jeuveau™ in the United States.

On this news, the Company’s share price declined materially, falling 37% over the course of two trading days, to close at $3.35 on July 8, 2020

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at [email protected], or visit our website at www.whafh.com.

Contact:

Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: [email protected], [email protected] or [email protected]
Tel: (800) 575-0735 or (212) 545-4774

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

Oakville, Ontario, Nov. 12, 2020 (GLOBE NEWSWIRE) — Iovate Health Sciences International Inc./Iovate USA Inc. (“Iovate”) is pleased to announce that Larry Daley has assumed the role of Executive Vice President, North American Sales.  Larry is a seasoned consumer goods sales executive who has held executive sales leadership roles at Merck & Company Inc., Procter & Gamble as well as Campbell’s Soup.  His most recent role was Vice President, Kroger with Campbell’s.  Larry has partnered with all major Tier 1 customers in the Club, Mass, Grocery, Drug, Specialty, E-Commerce, Dollar and Convenience Channels. He will be based in Media, Pennsylvania.

Iovate’s CEO, Tim Toll commented that, “I am confident that Larry’s energy and experience will add strength and value to our Sales Team as well as our Executive Team.  I believe that his focus on people and process combined with his passionate approach to leadership will benefit us immensely. “

“I am thrilled to join the company at such an exciting time”, said Larry Daley.  “Iovate is a consumer driven company with a portfolio of exceptional brands.  I look forward to partnering with the Iovate team and our customers to build winning strategies that drive sustainable growth.”

Larry joined the Iovate executive team on November 6, 2020.

About Iovate Health Sciences International: 

Founded in 1995 and based in Oakville, Canada, Iovate is a dynamic, leading-edge nutrition company that delivers some of the highest quality, most innovative and effective active nutrition and weight management products in the world. With brand innovations like MuscleTech®, Six Star Pro Nutrition®, Purely Inspired®, Hydroxycut®, and Conscious Kitchen™ the company is committed to be the number one active nutrition and weight management lifestyle company in the world and enabling consumers everywhere to live more active lives. Iovate distributes across all major channels of distribution, including food, drug, mass and club, health food stores and online, as well as in more than 140 countries worldwide. Iovate products are available nationwide at GNC®, the Vitamin Shoppe®, Bodybuilding.com®, Walmart®, Target®, Walgreen’s®, Sam’s Club®, Amazon® and other fine retailers.

Jake Duhaime
Iovate Health Sciences International
617-285-8087
[email protected]