Market Newsdesk

QUINCY, Mass., Dec. 18, 2020 (GLOBE NEWSWIRE) — Today Stop & Shop announced that UFCW Local 1500 has ratified an agreement for the company to make a $229 million investment in pension benefits for its members.

“We’re pleased this agreement has been ratified as it will improve the security of future retirement benefits for our union associates, while reducing financial risk going forward. This represents a significant investment in our associates who are dedicated to serving our communities every day,” said Gordon Reid, President, Stop & Shop.

As part of the agreement, the following actions will occur:

• Stop & Shop will end its participation in the UFCW Local 1500 Pension Fund.
• Stop & Shop union associates will participate in the Local 1500 Annuity plan, which is intended to sustainably provide future retirement benefits and reduce financial risk to the company.

The agreement covers approximately 8,000 current Stop & Shop associates who are members of UFCW Local 1500.

About Stop & Shop                

A neighborhood grocer for more than 100 years, today’s Stop & Shop is refreshed, reenergized and inspired, delivering convenient new solutions for customers. Committed to helping its communities enjoy better food and better lives, Stop & Shop has a longstanding history of giving back to the neighborhoods it serves with a focus on fighting hunger and pediatric cancer research and care. The Stop & Shop Supermarket Company LLC is an Ahold Delhaize USA Company and employs nearly 58,000 associates and operates over 400 stores throughout Massachusetts, Connecticut, Rhode Island, New York and New Jersey. To learn more about Stop & Shop, visit stopandshop.com. 

Contact: [email protected]

HAMILTON, Bermuda, Dec. 18, 2020 (GLOBE NEWSWIRE) — American Overseas Group Limited (BSX: AORE.BH) (Pink Sheets: AOREF.PK) ( the “Company”) today announced that it completed private repurchases of the remaining $3.6M liquidation value of its Series A Preference Shares (the “Shares”) from undisclosed holders. With these liquidations, the Company no longer carries any Series A Preference Shares on its balance sheet.

Information About the Company

American Overseas Group Limited is an insurance holding company incorporated in Bermuda and a tax resident of the United Kingdom. One of its operating subsidiaries, American Overseas Reinsurance Company Ltd., historically wrote financial guaranty reinsurance for U.S. and international public finance and structured finance transactions. The Company’s financial guaranty reinsurance obligations were retired in April of 2020 with a final commutation transaction between it and its last remaining cedant. The Company’s primary subsidiary is Old American Capital Corp, whose operating subsidiaries are licensed in 16 states and focused on serving monoline personal auto customers. More information can be found at www.aoreltd.com.

SOURCE: American Overseas Group Limited

[email protected]

BENSALEM, Pa., Dec. 18, 2020 (GLOBE NEWSWIRE) — Law Offices of Howard G. Smith continues its investigation on behalf of SolarWinds Corporation (“SolarWinds” or the “Company”) (NYSE: SWI) investors concerning the Company and its officers’ possible violations of federal securities laws.

On December 13, 2020, Reuters reported hackers have been monitoring email traffic at the U.S. Treasury and Commerce departments. The hackers are believed to have breached the emails by deceptively interfering with updates released by SolarWinds, which services various government vendors in the executive branch, the military, and the intelligence services.

On December 14, 2020, the Company disclosed that “a vulnerability [was inserted] within its Orion monitoring products which, if present and activated, could potentially allow an attacker to compromise the server on which the Orion products run.” The vulnerability was inserted in Orion products downloaded, as well as updates released, between March and June 2020.

On this news, the Company’s stock price fell $3.93, or 17%, to close at $19.62 per share on December 14, 2020, thereby injuring investors.

Then, on December 15, 2020, Reuters reported that Vinoth Kumar, a security researcher, alerted the Company last year that anyone could access SolarWinds’ update server by using the password “solarwinds123.” The article also reported that co-founder of cybersecurity company Huntress, Kyle Hanslovan, noticed the malicious updates were still available for download even days after SolarWinds was aware their software was compromised.

On this news, the Company’s stock price fell $1.56, or 8%, to close at $18.06 per share on December 15, 2020, thereby injuring investors further.

If you purchased SolarWinds securities, have information or 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.

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

Contacts

Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
[email protected]
www.howardsmithlaw.com

KENNETT SQUARE, Pa., Dec. 18, 2020 (GLOBE NEWSWIRE) — Residents and healthcare workers at The Reservoir Center, a Genesis HealthCare- (NYSE:GEN) (Genesis or the Company) affiliated nursing home, became the first long-term care facility in Connecticut and among the first in the U.S. to receive the COVID-19 vaccination today. Genesis HealthCare is one of the nation’s largest providers of post-acute care.

“These vials of hope have arrived. Today is a historic day, and this vaccine is critical to our ability to end this pandemic,” Dr. Richard Feifer, Genesis’ chief medical officer said. “We are so grateful to the State of Connecticut and our selected pharmacy partner, CVS Health, for their support and collaboration in opening the door to a safer future. The example our frontline workers and residents have set today for our communities and our nation will help to build further trust in the vaccine, the most critical tool in our fight against COVID-19.”

“As a minority, I know I am setting a great example for the Black community,” said Sophia Walker, RN and Unit Manager, discussing what getting the vaccine meant to her.

The event, held outside the center in West Hartford, Connecticut, featured remarks by Jonathan Roberts Executive Vice President, Chief Operating Officer of CVS Health; Deidre S. Gifford, MD, MPH, Acting Commissioner of the Connecticut Department of Public Health; Connecticut Governor, Ned Lamont; Dr. Richard Feifer (MD, MPH, FACP), Chief Medical Officer of Genesis HealthCare; and Marnie Talamona, Regional Vice President of Operations–Connecticut, Genesis HealthCare. Comments were followed by vaccinations of Zac Mundakkal (Physical Therapist Assistant); Sophia Walker (Registered Nurse and Unit Manager); Craig Dumont (The Reservoir Center Executive Director); Frank Tirado (Housekeeper, The Reservoir Center and employee of Healthcare Services Group – a Genesis care partner); and Dr. Feifer.

Genesis is working closely with state governments to determine when vaccines will be available for all employees and residents at its facilities across the nation. As part of The Pharmacy Partnership for Long-Term Care Program announced in October by The U.S. Department of Health and Human Services and the Department of Defense, Genesis selected CVS Health Corp. as its pharmacy partner to provide and administer the vaccine in all states that are working with CVS or Walgreens Boots Alliance Inc. for vaccine management.

Assets captured at today’s event will be made available to the media. If you are interested in receiving these, please contact [email protected].

About Genesis HealthCare

Genesis HealthCare is a holding company with subsidiaries that, on a combined basis, comprise one of the nation’s largest post-acute care companies, providing services to more than 325 skilled nursing facilities and assisted/senior living communities in 24 states nationwide. Genesis subsidiaries also supply rehabilitation therapy to approximately 1,200 healthcare providers in 44 states, the District of Columbia and China. References made in this release to “Genesis,” “the Company,” “we,” “us” and “our” refer to Genesis Healthcare, Inc. and each of its wholly-owned companies. Visit our website at www.genesishcc.com.

Contact:

Lori Mayer, Media Relations
610-283-4995
[email protected]

UNIONDALE, N.Y., Dec. 18, 2020 (GLOBE NEWSWIRE) — Flushing Financial Corporation (the “Company”) (Nasdaq-: FFIC), the parent holding company for Flushing Bank (the “Bank”), announced today that the Bank hosted two ribbon-cutting ceremonies at its new Islandia and Shirley locations in Suffolk County. These are two of the four locations resulting from the Bank’s recent acquisition of Empire National Bank.  Members of Flushing Bank’s management team were joined by several state and local elected officials at the event.

John R. Buran, President and CEO of Flushing Bank, stated: “I am extremely excited about the opportunity made possible by our recent acquisition of Empire National Bank to expand our Long Island presence and introduce Flushing Bank to the Suffolk County market. We look forward to building upon the relationships that have been established with our customers and expanding our banking services to the individuals, families, and businesses in the surrounding areas. As a community bank, we recognize the importance of giving back and demonstrating our commitment to the communities we serve. And, we are extremely excited to be a part of their economic recovery, growth, and development.”

About Flushing Financial Corporation

Flushing Financial Corporation (Nasdaq: FFIC) is the holding company for Flushing Bank^®, a New York State—chartered commercial bank insured by the Federal Deposit Insurance Corporation. The Bank serves consumers, businesses, professionals, corporate clients, and public entities by offering a full complement of deposit, loan, equipment finance, and cash management services through its banking offices located in Queens, Brooklyn, Manhattan, and on Long Island. As a leader in real estate lending, the Bank’s experienced lending teams create mortgage solutions for real estate owners and property managers both within and outside the New York City metropolitan area. Flushing Bank is an Equal Housing Lender. The Bank also operates an online banking division consisting of iGObanking^®, which offers competitively priced deposit products to consumers nationwide, and BankPurely^®, an eco-friendly, healthier lifestyle community brand.

Additional information on Flushing Bank and Flushing Financial Corporation may be obtained by visiting the Company’s website at FlushingBank.com

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995
: Statements in this Press Release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors discussed in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019 and in other documents filed by the Company with the Securities and Exchange Commission from time to time. Forward-looking statements may be identified by terms such as “may”, “will”, “should”, “could”, “expects”, “plans”, “intends”, “anticipates”, “believes”, “estimates”, “predicts”, “forecasts”, “goals”, “potential” or “continue” or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The Company has no obligation to update these forward-looking statements.

Contact:

Maria A. Grasso
Senior Executive Vice President, Chief Operating Officer
Flushing Bank
718-961-5400

LAS VEGAS, Nevada, Dec. 18, 2020 (GLOBE NEWSWIRE) — Consumer Portfolio Services, Inc. (Nasdaq: CPSS) (“CPS” or the “Company”) today announced that on December 18, 2020 it renewed its two-year revolving credit agreement with Citibank, N.A.

Loans under the renewed credit agreement will be secured by automobile receivables that CPS now holds, will originate directly, or will purchase from dealers in the future. CPS may borrow on a revolving basis through December 18, 2022, after which CPS will have the option to repay the outstanding loans in full or to allow them to amortize for a one-year period.

“We are pleased for this opportunity to continue to business with Citibank, with whom we have enjoyed a long and mutually beneficial relationship,” said Charles E. Bradley, Jr., President and Chief Executive Officer. “With this renewal we continue to maintain our strategy of having three $100 million warehouse lines with multi-year revolving commitments followed by amortization periods.”

About Consumer Portfolio Services, Inc.

Consumer Portfolio Services, Inc. is an independent specialty finance company that provides indirect automobile financing to individuals with past credit problems, low incomes or limited credit histories. We purchase retail installment sales contracts primarily from franchised automobile dealerships secured by late model used vehicles and, to a lesser extent, new vehicles. We fund these contract purchases on a long-term basis primarily through the securitization markets and service the contracts over their lives.

Forward-looking statements in this news release include the Company’s recorded revenue, expense and provision for credit losses, because these items are dependent on the Company’s estimates of incurred losses. The accuracy of such estimates may be adversely affected by various factors, which include (in addition to risks relating to the economy generally) the following: possible increased delinquencies; repossessions and losses on retail installment contracts; incorrect prepayment speed and/or discount rate assumptions; possible unavailability of qualified personnel, which could adversely affect the Company’s ability to service its portfolio; possible increases in the rate of consumer bankruptcy filings, which could adversely affect the Company’s rights to collect payments from its portfolio; other changes in government regulations affecting consumer credit; possible declines in the market price for used vehicles, which could adversely affect the Company’s realization upon repossessed vehicles; and economic conditions in geographic areas in which the Company’s business is concentrated. All of such factors also may affect the Company’s future financial results, as to which there can be no assurance. Any implication that the results of the most recently completed quarter are indicative of future results is disclaimed, and the reader should draw no such inference. Factors such as those identified above in relation to the provision for credit losses may affect future performance.

Investor Relations Contact

Jeffrey P. Fritz, Chief Financial Officer
844 878-2777