Market Newsdesk

NEW YORK, Nov. 24, 2020 (GLOBE NEWSWIRE) — 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 Precigen, Inc. f/k/a Intrexon Corporation (NASDAQ: PGEN; XON) securities between May 10, 2017 and September 25, 2020 (the “Class Period”). Investors have until December 4, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

Click here to participate in the action.

On September 25, 2020, the U.S. Securities and Exchange Commission (“SEC”) issued a cease and desist order against Precigen. The cease and desist order involved “inaccurate reports concerning the company’s purported success converting relatively inexpensive natural gas into more expensive industrial chemicals using a proprietary methane bioconversion (‘MBC’) program.” The order noted that the Company was “primarily using significantly more expensive pure methane for the relevant laboratory experiments but was indicating that the results had been achieved using natural gas.” The cease-and-desist order further stated that although the Company “pitched the MBC program privately to numerous potential business partners over the course of 2017 and 2018” and “[a] number of these potential partners performed due diligence on the MBC program including reviewing lab results and plans for commercialization. [The Company] has not yet found a partner for the MBC program.”

The complaint, filed on October 5, 2020, alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose to investors that: (1) the Company was using pure methane as feedstock for its announced yields for its methanotroph bioconversion platform instead of natural gas; (2) yields from natural gas as a feedstock were substantially lower than the aforementioned pure methane yields; (3) due to the substantial price difference between pure methane and natural gas, pure methane was not a commercially viable feedstock; (4) the Company’s financial statements for the quarter ended March 31, 2018 were false and could not be relied upon; (5) the Company had material weaknesses in its internal controls over financial reporting; (6) the Company was under investigation by the SEC since October 2018; and (7) as a result of the foregoing, defendants’ public statements were materially false and misleading at all relevant times.

If you purchased Precigen 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.

Contact Information:

Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
Marion Passmore, Esq.
(212) 355-4648
[email protected]
www.bespc.com

WINNIPEG, Manitoba, Nov. 24, 2020 (GLOBE NEWSWIRE) — DELTA 9 CANNABIS INC. (TSX: DN) (OTCQX: VRNDF) (“Delta 9” or the “Company”), is pleased to announce it has expanded its click-and-collect and same-day home delivery service program to the Thompson and Brandon, Manitoba markets. As a result, Delta 9 becomes the only retail store chain offering the above services in Winnipeg, Brandon, and Thompson, Manitoba.

“As Canada deals with the second wave of COVID-19, contactless shopping options and access to cannabis products while enabling social distancing become an essential part of our business offering,” said John Arbuthnot, CEO of Delta 9. “As we have rolled out increased online services, we have noticed a major increase in the usage of our click-and-collect and same-day delivery programs with online sales up 265% over last year and with customer basket sizes much larger than in-store. If these consumer trends continue in a post-COVID world Delta 9 will be prepared as a market leader with innovative online services.”

The Company is pleased to provide the next phase of convenience for customers and further enhance safety during the COVID-19 pandemic by minimizing contact time between customers and staff. With the click of a mouse, customers can browse and sort through a complete inventory of cannabis products by store and reserve any products from whichever retail location that is most convenient.

Delta 9’s online platform features allow an order to be ready in two hours or less along with delivery services for all Manitobans. Customers will receive direct email and text order updates from their chosen store and can visit the Delta 9 website to seamlessly place an order. Customer service operators are available by phone or online chat.

“We custom architected and developed a made in Manitoba solution to meet the current demands of our customers. Building upon what Shopify provides out of the box today, we were able to create a seamless omnichannel experience for both online and in-store shopping.” said Matthew Sodomsky, CTO of Delta 9.

Check our Click-and-Collect and Same Day Delivery on the Delta 9 website today. https://www.delta9.ca/ 

For more information contact:

Investor & Media Contact:

Ian Chadsey VP Corporate Affairs
Mobile: 204-898-7722
E-mail: [email protected] 

About Delta 9 Cannabis Inc.

Delta 9 Cannabis Inc. is a vertically integrated cannabis company focused on bringing the highest quality cannabis products to market. Delta 9’s wholly-owned subsidiary, Delta 9 Bio-Tech Inc., is a licensed producer of medical and recreational cannabis and operates an 80,000 square foot production facility in Winnipeg, Manitoba, Canada. Delta 9 owns and operates a chain of retail stores under the Delta 9 Cannabis Store brand. Delta 9’s shares trade on the Toronto Stock Exchange under the symbol “DN” and on the OTCQX under the symbol “VRNDF”. For more information, please visit www.delta9.ca. 

Disclaimer for Forward-Looking Information

Certain statements in this release may be forward-looking statements, which reflect the expectations of management regarding the Company’s Click and Collect and Home delivery service plans and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release include Click and Collect and Home delivery service plans. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including all risk factors set forth in the annual information form of Delta 9 dated March 19, 2020 which has been filed on SEDAR. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Readers are urged to consider these factors carefully in evaluating the forward-looking statements contained in this news release and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements. These forward-looking statements are made as of the date hereof and the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.

NEW YORK, Nov. 24, 2020 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of JPMorgan Chase & Co. (NYSE: JPM), First American Financial Corporation (NYSE: FAF), Bayerische Motoren Werke AG (“BMW”) (Other OTC: BMWYY, BAMXF), and Zosano Pharma Corporation (NASDAQ: ZSAN). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.

JPMorgan Chase & Co. (NYSE: JPM)

Class Period: February 23, 2016 to September 23, 2020

Lead Plaintiff Deadline: December 23, 2020

On November 6, 2018, the Department of Justice announced in a press release that former JPMorgan precious metals trader John Edmonds pled guilty to commodities fraud and a spoofing conspiracy.

On August 20, 2019, the Department of Justice announced that another JPMorgan employee, Christian Trunz, pled guilty to spoofing charges, and had done so with the knowledge and consent of his supervisors.

On September 23, 2020, Bloomberg reported that the Company was nearing a settlement to resolve the spoofing charges.

On this news, shares of JPMorgan stock fell $2.04 per share, or 2%, to close at $92.74 per share on September 23, 2020.

On September 29, 2020, the Commodity Futures Trading Commission (“CFTC”) formally announced that it had ordered JPMorgan to pay $920 million to settle the spoofing and manipulation charges. According to the order, the Company failed to monitor its employees and ignored multiple red flags. The Company also provided the CFTC with misleading information.

The complaint, filed on October 24, 2020, alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) traders at the Company, with the knowledge and consent of their superiors, manipulated the precious metals market by “spoofing,” or placing fake orders to generate the appearance of market demand; (2) the Company had insufficient controls and compliance protocols to enable it to identify and stop the misconduct; (3) the Company’s earnings in the physical commodity market were, at least in part, ill-gotten; (4) such conduct would result in enhanced regulatory scrutiny; (5) the Company provided misleading information to CFTC investigators at early stages of the investigation into the misconduct; (6) resolution of the governmental investigation into the Company would result in a record-breaking $920 million fine; and (7) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

For more information on the JPMorgan securities class action case go to: https://bespc.com/cases/JPM

First American Financial Corporation (NYSE: FAF)

Class Period: February 17, 2017 to October 22, 2020

Lead Plaintiff Deadline: December 24, 2020

On May 24, 2019, KrebsOnSecurity.com (“KrebsOnSecurity”), a noted cybersecurity blog, reported a massive data exposure by First American in which approximately 885 million customer files were exposed by First American.

On this news, shares of First American fell $3.46, or over 6%, to close at $51.80 per share on May 25, 2019.

On October 22, 2020, First American filed a quarterly report on Form 10-Q with the SEC, announcing that the Company had received a Wells Notice regarding its massive security breach.

On this news the price of First American shares fell approximately $4.83 per share, or 9%, to close at $46.75 per share on October 22, 2020.

The complaint, filed on October 25, 2020, alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company failed to implement basic security standards to protect its customers’ sensitive personal information and data; (2) the Company faced a heightened risk of cybersecurity failure due to its automation and efficiency initiatives; and (3) as a result, defendants’ public statements were materially false and misleading at all relevant times.

For more information on the First American Financial class action go to: https://bespc.com/cases/FAF

Bayerische Motoren Werke AG (“BMW”) (
Other
OTC: BMWYY, BAMXF)

Class Period: November 3, 2015 to September 24, 2020

Lead Plaintiff Deadline: December 28, 2020

On December 23, 2019, the Wall Street Journal reported that the SEC was probing BMW’s sales practices.

On this news, BMWYY ADRs fell $1.33 per ADR, or nearly 6.87%, to close at $18.02 per ADR on December 23, 2019. The same day, BAMXF ADRs fell $1.25, or 1.5%, to close at $80.60.

On September 24, 2020, the SEC announced a settlement agreement with BMW regarding the investigation. According to the SEC’s order, from January 2015 to March 2017, BMW US “used its demonstrator and service loaner programs to boost reported retail sales volume and meet internal targets, resulting in demonstrator and loaner vehicles accounting for over one quarter of BMW [US]’s reported retail sales in this period.” Additionally, the order found that BMW US, from 2015 to 2019, maintained a reserve of unreported retail vehicles sales – referred to internally as the “bank” – that it used to meet internal monthly sales targets regardless of when the actual sale occurred. The order also found that BMW improperly designated vehicles as demonstrators or loaners so they would be counted as sold when in actuality they were not. Without admitting to or denying the order’s findings, BMW agreed to a settlement to pay $18 million and cease and desist from future violations.

On this news, BMWYY ADRs fell $0.51 per ADR, or approximately 2.2%, to close at $23.07 per ADR on September 25, 2020. The same day, BAMXF ADRs fell $2.54, or about 3.5%, to close at $68.91.

The complaint, filed on October 27, 2020, alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) BMW kept a “bank” of retail vehicle sales that it used to meet internal monthly sales targets regardless of when the sales actually occurred; (2) BMW artificially manipulated sales figures by having dealers register cars as sold when the cars were still in inventory; (3) as a result, BMW’s key operating metrics were inaccurate and misleading; and (4) as a result, defendants’ statements about BMW’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis at all relevant times.

For more information on the BMW class action go to: https://bespc.com/cases/BMW

Zosano Pharma Corporation (NASDAQ: ZSAN)

Class Period: February 13, 2017 to September 30, 2020

Lead Plaintiff Deadline: December 28, 2020

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.

For more information on the Zosano class action go to: https://bespc.com/cases/ZSAN

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.

Contact Information:

Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
Marion Passmore, Esq.
(212) 355-4648
[email protected]
www.bespc.com