Market Newsdesk

NEW YORK, Nov. 13, 2020 (GLOBE NEWSWIRE) — The law firm of Kirby McInerney LLP reminds investors that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of those who acquired Evolus, Inc. (“Evolus” or the “Company”) (NASDAQ: EOLS) securities during the period February 1, 2019 through July 6, 2020, inclusive (the “Class Period”). Investors have until December 15, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

On July 6, 2020, the Initial Final Determination was issued by the U.S. 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 significantly, falling 37% over the course of two trading days, to close at $3.35 on July 8, 2020, thereby injuring investors.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements and/or failed to disclose that: (1) the real source of botulinum toxin bacterial strain as well as the manufacturing processes used to develop Jeuveau™ originated with and were misappropriated from Medytox; (2) sufficient evidentiary support existed for the allegations that Evolus misappropriated certain trade secrets relating to the botulin toxin strain and the manufacturing processes for the development of Jeuveau™; (3) as a result, Evolus faced a real threat of regulatory and/or court action, prohibiting the import, marketing, and sale of Jeuveau™; (4) which in turn seriously threatened Evolus’ ability to commercialize Jeuveau™ in the United States and generate revenue; and (5) any revenues generated from the sale of Jeuveau™ were based on Evolus’ unlawful activities, including the misappropriation of trade secrets and secret manufacturing processes belonging to Allergan and Medytox.

If you acquired Evolus securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney at 212-371-6600, by email at [email protected], or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.

Kirby McInerney is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, and whistleblower litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney’s website: www.kmllp.com.

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

Contacts

Kirby McInerney LLP
Thomas W. Elrod, Esq., (212) 371-6600
[email protected]
www.kmllp.com

VANCOUVER, British Columbia, Nov. 13, 2020 (GLOBE NEWSWIRE) — Sandfire Resources America Inc. (TSX.V: “SFR”; OTCQB: “SRAFF”) (“Sandfire” or the “Company“) announces that it will conduct a rights offering to raise gross proceeds of up to approximately C$30.0 million (the “Rights Offering“).

The Company will issue rights (the “Rights“) to existing shareholders in Canada and to eligible shareholders in the United States and in certain other jurisdictions at the close of business on the record date of November 24, 2020 (the “Record Date“). The Company is pleased that shareholders in Montana and in certain other states in the U.S. will be entitled to participate in the Rights Offering.

Eligible shareholders will receive ten (10) Rights for each common share of the Company (each a “Share“) held. Forty-one (41) Rights will entitle the holder to subscribe for one (1) Share upon payment of the subscription price of C$0.15 per Share (the “Subscription Price“). For example, a holder of 410 Shares will be entitled to subscribe for 100 Shares for an aggregate subscription price of C$15.

Shareholders who fully exercise their Rights will also be entitled to subscribe for additional Shares in the Rights Offering, if available as a result of unexercised Rights prior to 5:00 p.m. (Toronto time) on December 22, 2020 (the “Expiry Time“), subject to certain limitations set out in the Company’s rights offering circular (the “Circular“).  

The Rights will trade on the TSX Venture Exchange under the symbol SFR.RT commencing on the first trading day prior to the Record Date and until 12:00 p.m. (Toronto time) on December 22, 2020.  The Rights will expire at the Expiry Time, after which time unexercised Rights will be void and of no value. No fractional Shares will be issued under the Rights Offering.

A rights offering notice and rights certificate will be mailed to each registered shareholder of the Company resident in Canada and to each shareholder in the United States other than in the states of Arizona, Arkansas, California, Minnesota, New York, Ohio and Wisconsin as at the Record Date. Registered shareholders who wish to exercise their Rights must forward the completed rights certificate, together with the applicable funds, to the rights agent, Computershare Investor Services Inc., on or before the Expiry Time. Shareholders who own their Shares through an intermediary, such as a bank, trust company, securities dealer or broker, will receive materials and instructions from their intermediary.  Further details of the Rights Offering are contained in the Company’s Circular, which has been filed on SEDAR under the Company’s profile at www.sedar.com.  

The Company currently has 822,213,031 Shares issued and outstanding. If all of the Rights issued under the Rights Offering are validly exercised, an aggregate of up to 200,539,763 Shares would be issued.  The Company intends to use the net proceeds of the Rights Offering to advance the Black Butte Copper Project and for general working capital purposes.

The Company is also registering the offer and sale of the Shares issuable on exercise of the Rights on a Form F-7 registration statement under the United States Securities Act of 1933, as amended. Shareholders in the United States should also review the Company’s Registration Statement on Form F-7 which will be filed with the United States Securities and Exchange Commission and when filed, can be found at www.sec.gov.

This news release shall not constitute an offer to sell or solicitation of an offer to buy the securities of the Company. There shall be no offer or sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification of such securities under the laws of any such jurisdiction.

Purchase Commitment Agreement

In connection with the Rights Offering, the Company has entered into a purchase commitment agreement (the “Commitment Agreement“) with Sandfire BC Holdings Inc. (the “Purchaser“).  The Purchaser has agreed, subject to the satisfaction of certain conditions, to fully exercise its basic subscription privilege to purchase its pro rata share of the Shares offered in the Rights Offering. The subscription amount for the Purchaser will be approximately C$25,630,415. Further details of the Commitment Agreement are contained in the Company’s Circular.

As of the date hereof, the Purchaser owns approximately 85% of the Company’s issued and outstanding Shares. If the purchase obligations of the Purchaser are fulfilled in full, the Purchaser does not subscribe for additional shares in the Rights Offering and no other shareholders exercise their Rights, the Purchaser will own approximately 88% of the issued and outstanding Shares on completion of the Rights Offering.

About Sandfire Resources America Inc.

Sandfire Resources America Inc. is a growth company focused on the exploration, development, and mining of its 100% owned flagship property, the Black Butte Copper project in central Montana, USA.  The Company is led by a highly experienced executive management team that has a successful track record of building shareholder value through exploration, corporate finance, and mine development. 

Contact Information:

Sandfire Resources America Inc.
Nancy Schlepp, VP of Communications
Mobile: 406-224-8180
Office: 406-547-3466
Email: [email protected]

Cautionary statement regarding forward‐looking information

Certain disclosures in this release constitute “forward-looking information” within the meaning of Canadian securities legislation and “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, “forward-looking statements”). Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as the following: expects, plans, anticipates, believes, intends, estimates, projects, assumes, potential and similar expressions. Forward-looking statements also include reference to events or conditions that will, would, may, could or should occur, including, without limitation, statements regarding the Company’s plans for advancing the Black Butte Copper Project (including plans to complete permitting), details of the Rights Offering, the intended use of proceeds of the Rights Offering, resource estimates and expected outcomes. In making the forward-looking statements in this news release, the Company has applied certain factors and assumptions that the Company believes are reasonable, including that the Company’s permitting will proceed as expected; that the Rights Offering will be completed and will raise the expected proceeds; that the results of exploration and development activities are consistent with management’s expectations and that the assumptions underlying mineral resource estimates are valid.  However, the forward-looking statements in this news release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including without limitation: that the Rights Offering will otherwise not be completed or will raise less than the expected proceeds; uncertainties as to the costs to completion of the Rights Offering; the results of exploration and development activities will not be consistent with management’s expectations, the risk of unexpected variations in mineral resources, grade or recovery rates, delays in obtaining or inability to obtain required government or other regulatory approvals or financing, failure of plant, equipment or processes to operate as anticipated, the risk of accidents, labor disputes, inclement or hazardous weather conditions, unusual or unexpected geological conditions, ground control problems, earthquakes, flooding and all of the other risks generally associated with the development of mining facilities and the operation of a producing mine.  There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

NEW YORK, Nov. 13, 2020 (GLOBE NEWSWIRE) — The law firm of Kirby McInerney LLP reminds investors that a class action lawsuit has been filed in the U.S. District Court for the District of Michigan on behalf of those who acquired Credit Acceptance Corporation (“Credit Acceptance” or the “Company”) (NASDAQ: CACC) securities during the period from November 1, 2019 through August 28, 2020, inclusive (the “Class Period”). Investors have until December 1, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

On Friday, August 28, 2020, the Massachusetts Attorney General (“AG”) filed a complaint against Credit Acceptance alleging that the Company made unfair and deceptive auto loans to consumers and engaged in unfair debt collection practices. Among other things, the complaint alleged that, since 2013, Credit Acceptance topped off the pools of loans that it packaged and securitized with higher risk loans. It further alleged that Credit Acceptance made high interest subprime auto loans that the Company knew borrowers would be unable to pay, thereby ignoring the likelihood that the borrowers would default on their loans.

On Monday, August 31, 2020, the Massachusetts AG issued a press release announcing the lawsuit and stating that the Company’s “unaffordable and illegal loans” caused borrowers “to fall into thousands of dollars of debt and even lose their vehicles.”

On this news, the Company’s share price fell $85.36, or 18%, to close at $374.07 per share on September 1, 2020, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company was topping off the pools of loans that they packaged and securitized with higher-risk loans; (2) that the Company was making high interest subprime auto loans to borrowers that the Company knew borrowers would be unable to repay; (3) that the borrowers were subject to hidden finance charges, resulting in loans exceeding the usury rate ceiling mandated by state law; (4) that the Company took excessive and illegal measures to collect debt from defaulted borrowers; (5) that, as a result, the Company was likely to face regulatory scrutiny and possible penalties from various regulators or lawsuits; and (6) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

If you acquired Credit Acceptance securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney at 212-371-6600, by email at [email protected], or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.

Kirby McInerney is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, and whistleblower litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney’s website: www.kmllp.com.

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

Contacts

Kirby McInerney LLP
Thomas W. Elrod, Esq., (212) 371-6600
[email protected]
www.kmllp.com

LONDON and NEW YORK, Nov. 13, 2020 (GLOBE NEWSWIRE) — MeiraGTx Holdings plc (Nasdaq: MGTX), a vertically integrated, clinical stage gene therapy company, today announced 12-month data from the ongoing Phase 1/2 clinical trial (NCT03252847) of AAV-RPGR, an investigational gene therapy in development for the treatment of X-linked retinitis pigmentosa (XLRP). Statistically significant vision improvement in the dose escalation phase of the trial was sustained one year after treatment. These data were presented today as a late-breaker oral presentation at the American Academy of Ophthalmology (AAO) 2020 Virtual Annual Meeting.

MeiraGTx and Janssen Pharmaceuticals, Inc. (Janssen), one of the Janssen Pharmaceutical Companies of Johnson & Johnson, are jointly developing AAV-RPGR as part of a broader collaboration to develop and commercialize gene therapies for the treatment of inherited retinal diseases.

In the ongoing Phase 1/2 MGT009 clinical trial, each patient was treated with subretinal delivery of AAV-RPGR in one eye and the patient’s other eye served as an untreated control. The primary endpoint of the trial is safety, with secondary endpoints assessing changes in visual function at pre-specified timepoints post-treatment. Baseline values were determined in triplicate.

In the dose escalation phase of the trial, data at the 12-month time point demonstrated statistically significant improvement in retinal sensitivity in treated eyes in both the low (n=3) and intermediate (n=4) dose cohorts, with six of seven patients demonstrating improved or stable vision in the treated eye one year after treatment.

“Significant vision improvement in XLRP patients was sustained one year after treatment with this novel gene therapy,” said Michel Michaelides¹, BSc MB BS MD(Res) FRCOphth FACS, MGT009 trial investigator, Consultant Ophthalmologist, Moorfields Eye Hospital and Professor of Ophthalmology, University College London. “XLRP is a degenerative disease that progresses to blindness in working-age adults. These findings suggest AAV-RPGR has the potential to not only stabilize vision, but to actually improve vision in patients who have no current therapeutic options.”

AAO


Data Summary


:

Retinal sensitivity

XLRP is characterized by progressive deterioration of the visual field. Octopus 900 full-field static perimetry and MAIA microperimetry were employed to determine change in retinal sensitivity following intervention.

Perimetry is a sensitive, standard-of-care measure of retinal function that reproducibly determines retinal sensitivity both cross-sectionally and longitudinally, thereby accurately evaluating disease progression over time.

At the 12-month analysis, compared to baseline:

• Six out of seven patients in the low (n=3) and intermediate (n=4) dose cohorts demonstrated improvement or stability in retinal sensitivity in the treated eye.
• Statistically significant differences in mean retinal sensitivity were observed between treated and untreated eyes in the intermediate dose cohort: 1.05 dB; (90% CI: 0.81, 1.29).
• Statistically significant differences were observed in central visual field progression rate (V30) between treated and untreated eyes in the low: 1.10 dB-sr/year; (90% CI: 0.10, 2.10) and intermediate: 1.26 dB-sr/year; (90% CI: 0.65, 1.86) dose cohorts.
• Efficacy signals were observed at the first post-treatment assessments at three months, with improvements sustained or increased at 12 months.

Vision-guided mobility

Markedly impaired mobility in low illumination is a hallmark symptom of XLRP. As part of the trial, patients completed a vision-guided mobility maze at baseline and nine months to assess their ability to navigate across a broad range of controlled light levels (1 lux = deep twilight, 4 lux = residential street lighting, 16 lux = twilight conditions, 64 lux = car park and 256 lux = office work). These results were first presented at the EURETINA 2020 Virtual Congress in October 2020.

At the nine-month analysis, compared to baseline:

• Five of six patients demonstrated improvement in walk time for the treated eye at lux levels 1, 4 or 16.
• Significant improvement was observed between treated and untreated eyes in the low and intermediate dose cohorts (n=6) at 1 lux, -16.1 seconds (90% CI: 9.91, 22.1) and 4 lux, -3.71 seconds (90% CI: 2.83, 4.96); with the greatest improvement at the lowest light level (1 lux).
• Vision-guided mobility assessment was not carried out in the high dose cohort at the nine-month timepoint due to a protocol revision implemented to align with the dose-expansion cohort assessment schedule.

Safety and tolerability

Safety data obtained to date continue to suggest AAV-RPGR is well-tolerated. No dose-limiting events occurred. As previously presented, signs of inflammation were observed in two of three patients in the high dose cohort, which may have been associated with decreased activity of the AAV-RPGR treatment in these patients. Inflammation was effectively managed with an extended steroid protocol.

Based on the safety and efficacy profile, the low and intermediate doses are being evaluated in the ongoing randomized, controlled expansion portion of the Phase 1/2 study, which completed enrollment in the first half of 2020.

MeiraGTx and development partner Janssen are preparing to initiate the pivotal Phase 3 Lumeos clinical trial of AAV-RPGR for the treatment of patients with XLRP.

About AAV-RPGR

AAV-RPGR is an investigational gene therapy for the treatment of patients with XLRP caused by disease-causing variants in the eye-specific form of the RPGR gene (RPGR ORF15). AAV-RPGR is designed to deliver functional copies of the RPGR gene to the subretinal space in order to improve and preserve visual function. MeiraGTx and development partner Janssen are currently conducting a Phase 1/2 clinical trial of AAV-RPGR in patients with XLRP with disease-causing variants in RPGR ORF15. AAV-RPGR has been granted Fast Track and Orphan Drug designations by the U.S. Food and Drug Administration (FDA) and PRIME, ATMP and Orphan designations by the European Medicines Agency (EMA).

About the Phase 1/2
MGT009
Clinical Trial

MGT009 is a multi-center, open-label Phase 1/2 trial (NCT03252847) of AAV-RPGR gene therapy for the treatment of patients with XLRP associated with disease-causing variants in the RPGR gene. MGT009 consists of three phases: dose-escalation, dose-confirmation, and dose-expansion. Each patient was treated with subretinal delivery of AAV-RPGR in the eye that was more affected at baseline. The patient’s other eye served as an untreated control. In the dose-escalation phase (n=10), adults were administered low, intermediate, or high dose AAV-RPGR. The primary endpoint was safety. Visual function was assessed at baseline, three, six, nine and 12 months with Octopus 900 full-field static perimetry and mesopic fundus-guided microperimetry (MP); mean retinal sensitivity, visual field modeling and analysis (VFMA; Hill-of-vision volumetric measure), and pointwise comparisons were examined.

About X-Linked Retinitis Pigmentosa (XLRP)

XLRP is the most severe form of retinitis pigmentosa (RP), a group of inherited retinal diseases characterized by progressive retinal degeneration and vision loss. In XLRP, both rods and cones function poorly, leading to degeneration of the retina and total blindness. The most frequent cause of XLRP is disease-causing variants in the RPGR gene, accounting for more than 70% of cases of XLRP, and up to 20% of all cases of RP. There are currently no approved treatments for XLRP.

About 
MeiraGTx

MeiraGTx (Nasdaq: MGTX) is a vertically integrated, clinical stage gene therapy company with six programs in clinical development and a broad pipeline of preclinical and research programs. MeiraGTx has core capabilities in viral vector design and optimization and gene therapy manufacturing, as well as a potentially transformative gene regulation technology. Led by an experienced management team, MeiraGTx has taken a portfolio approach by licensing, acquiring and developing technologies that give depth across both product candidates and indications. MeiraGTx’s initial focus is on three distinct areas of unmet medical need: inherited retinal diseases, neurodegenerative diseases and severe forms of xerostomia. Though initially focusing on the eye, central nervous system and salivary gland, MeiraGTx intends to expand its focus in the future to develop additional gene therapy treatments for patients suffering from a range of serious diseases.

For more information, please visit www.meiragtx.com.

Forward Looking Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the development and efficacy of AAV-RPGR, plans to advance AAV-RPGR into Phase 3 clinical trial and anticipated milestones regarding our clinical data and reporting of such data and the timing of results of data, including in light of the COVID-19 pandemic, as well as statements that include the words “expect,” “intend,” “plan,” “believe,” “project,” “forecast,” “estimate,” “may,” “should,” “anticipate” and similar statements of a future or forward-looking nature. These forward-looking statements are based on management’s current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, our incurrence of significant losses; any inability to achieve or maintain profitability, raise additional capital, identify additional and develop existing product candidates, successfully execute strategic priorities, bring product candidates to market, expansion of our manufacturing facilities and processes, successfully enroll patients in and complete clinical trials, accurately predict growth assumptions, recognize benefits of any orphan drug designations, retain key personnel or attract qualified employees, or incur expected levels of operating expenses; the impact of the COVID-19 pandemic on the status, enrollment, timing and results of our clinical trials and on our business, results of operations and financial condition; failure of early data to predict eventual outcomes; failure to obtain FDA or other regulatory approval for product candidates within expected time frames or at all; the novel nature and impact of negative public opinion of gene therapy; failure to comply with ongoing regulatory obligations; contamination or shortage of raw materials or other manufacturing issues; changes in healthcare laws; risks associated with our international operations; significant competition in the pharmaceutical and biotechnology industries; dependence on third parties; risks related to intellectual property; changes in tax policy or treatment; our ability to utilize our loss and tax credit carryforwards; litigation risks; and the other important factors discussed under the caption “Risk Factors” in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2020, as such factors may be updated from time to time in our other filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, unless required by law, we disclaim any obligation to do so, even if subsequent events cause our views to change. Thus, one should not assume that our silence over time means that actual events are bearing out as expressed or implied in such forward-looking statements. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.

Contacts

Investors:

MeiraGTx
Elizabeth (Broder) Anderson
(646) 860-7983
[email protected]

or

Media:

W2O pure
Christiana Pascale
(212) 257-6722
[email protected]

¹ Professor Michaelides is a scientific founder of and consultant to MeiraGTx.

NEW YORK, Nov. 13, 2020 (GLOBE NEWSWIRE) — The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the District of Nevada on behalf of those who acquired Las Vegas Sands Corp. (“Las Vegas Sands” or the “Company”) (NYSE: LVS) securities during the period from February 27, 2016 through September 15, 2020, inclusive (the “Class Period”). Investors have until December 21, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Marina Bay Sands, a Las Vegas Sands resort in Singapore, casino’s control measures pertaining to fund transfers had weaknesses; (2) the Marina Bay Sands’ casino was consequently prone to illicit fund transfers that implicated, among other issues, the transfer of customer funds to unauthorized persons and potential breaches in the Company’s anti-money laundering procedures; (3) the foregoing foreseeably increased the risk of litigation against the Company, as well as investigation and increased oversight by regulatory authorities; (4) Las Vegas Sands had inadequate disclosure controls and procedures; (5) consequently, all the foregoing issues were untimely disclosed; and (6) as a result, the Company’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

If you acquired Las Vegas Sands securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney at 212-371-6600, by email at [email protected], or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.

Kirby McInerney is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, and whistleblower litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney’s website: www.kmllp.com.

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

Contacts

Kirby McInerney LLP
Thomas W. Elrod, Esq., (212) 371-6600
[email protected]
www.kmllp.com

WESTPORT, Conn., Nov. 13, 2020 (GLOBE NEWSWIRE) — HMG Strategy, the world’s #1 digital platform for connecting technology executives to reimagine the enterprise and reshape the business world, is excited to have launched its HMG Security Innovation Accelerator Panel webinar series. The webinar series connects enterprise CISOs and security leaders with the top emerging cybersecurity companies that are solving the most critical cyber challenges facing companies today.

“CISOs, CIOs and executives with a stake in
cybersecurity need help in protecting their organizations from an ever-increasing scale and complexity of cyber threats and attacks
,” said Hunter Muller, President and CEO at HMG Strategy. “The HMG Security Innovation Accelerator Panel series enables security leaders to look around the corner at the technologies that can help them to better protect their companies while delivering innovation to the CEO and the business.”

HMG Strategy’s inaugural Security Innovation Accelerator Panel discussion on November 11 featured Glenn Chisholm, Co-Founder and CEO, Obsidian Security; Nikhil Gupta, Co-Founder and CEO, ArmorCode; Nayeem Islam, CEO, Blue Hexagon Inc.; and Patrick Sweeney, President and CEO, Area 1 Security. These entrepreneurs shared how their companies are differentiated in the market, the specific challenges they address for their clients, along with the white space they saw in the market which they and their teams used to develop their unique products and services.

Here are some examples of the insights they each shared during the 60-minute webinar:

Glenn Chisholm, Co-Founder and CEO, Obsidian Security: We saw this adoption for SaaS and began asking how one goes about securing SaaS and addressing breaches and posture management. We’re utilizing SaaS along with protecting SaaS.

Nikhil Gupta, Co-Founder and CEO, ArmorCode: We started our company right in the middle of COVID. There’s a big opportunity happening with digital disruption. There is a gap in addressing security across various platforms and ecosystems.

Nayeem Islam, CEO, Blue Hexagon: You have hybrid enterprises that have workloads in the cloud with APIs available from major cloud providers. It’s all fairly uniform – whether on-prem on in the cloud – and we allow you to view all of this infrastructure with deep learning. We can prevent attacks before they become a problem in the enterprise.

Patrick Sweeney, President and CEO, Area 1 Security: For us, there’s been a major disruption with Office 365 dominating mail in the cloud and 95 percent of security threats coming in through email. Any company that does business is subject to fraud and nefarious attacks. We have stopped a half billion dollars in fraud payments in the last six months alone for our clients.

HMG Strategy will be hosting its next HMG Security Innovation Accelerator Panel on December 8. Featured speakers will include George Avetisov, Co-Founder and CEO, HYPR; Glenn Chisholm, Co-Founder and CEO, Obsidian Security; Nikhil Gupta, Co-Founder and CEO, ArmorCode Inc.; and Ali Golshan, Co-Founder and CTO, StackRox.

To learn more about this webinar and to register for the event, click here.

Click here to view HMG Strategy’s complete calendar of upcoming and on-demand webinars.

About HMG Strategy

HMG Strategy is the world’s leading digital platform for connecting technology executives to reimagine the enterprise and reshape the business world. Our regional and virtual CIO and CISO Executive Leadership Series, authored books and Digital Resource Center deliver unique, peer-driven research from CIOs, CISOs, CTOs and technology executives on leadership, innovation, transformation and career ascent. The HMG Strategy global network consists of over 400,000 senior IT executives, industry experts and world-class thought leaders.

To learn more about the 7 Pillars of Trust for HMG Strategy’s unique business model, click here.

HMG Strategy: Your #1 Trusted Digital Platform Connecting Technology Executives to Reimagine the Enterprise and Reshape the Business World.

Tom Hoffman
203-221-2702
[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/dd9f3cbb-22b3-4f11-9d5c-15cbbc357766

NEW YORK, Nov. 13, 2020 (GLOBE NEWSWIRE) — The law firm of Kirby McInerney LLP reminds investors that a class action lawsuit has been filed in the U.S. District Court for the Central District of California on behalf of those who acquired Wrap Technologies, Inc. (“Wrap” or the “Company”) (NASDAQ: WRTC) securities during the period from April 29, 2020 through September 23, 2020, inclusive (the “Class Period”). Investors have until November 23, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

In December 2019, the Company announced that the Los Angeles Police Department (“LAPD”) would train its officers on the BolaWrap and deploy 200 devices in the field for a 90-day pilot program beginning in January 2020.

On July 22, 2020, White Diamond Research published a report alleging that the BolaWrap had limited use in the field and therefore Wrap has a very small total addressable market. The report also alleged that it was likely Wrap did not secure a contract with the LAPD. On this news, the Company’s share price fell $0.55, or 4.6%, to close at $11.34 per share on July 22, 2020, on unusually heavy trading volume.

On August 25, 2020, after the market closed, an article by Los Angeles Times reported that “[s]ince the initial 180-day pilot began in February, LAPD officers have used the BolaWrap a total of nine times[, and it] was deemed ‘effective’ in six instances.” As a result, the LAPD sought a 180-day extension to continue evaluating the device. On this news, the Company’s share price fell $0.50, or 5.7%, to close at $8.27 per share on August 27, 2020, on unusually heavy trading volume.

On September 23, 2020, White Diamond Research published a second report, alleging that, despite previously touting the LAPD pilot program, Wrap failed to disclose the key findings from the initial 180-day testing period because it was “bad news.” The report described the nine incidents in which the BolaWrap had been used, thereby highlighting its limited utility. On this news, the Company’s share price fell $2.07, or 25%, close at $6.07 per share on September 23, 2020, thereby damaging investors.

The Complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that there were limited instances in which Wrap’s BolaWrap could potentially be used because it requires a minimum of 10 feet between the officer and the suspect; (2) that, as a result, the BolaWrap was reasonably unlikely to be effective in most situations; (3) that the LAPD sought extensions of the pilot program because they needed a larger sample size to assess the effectiveness of the BolaWrap; (4) that the LAPD had not found the BolaWrap to be useful or effective during its pilot program; (5) that, as a result, Wrap had not received positive feedback from the LAPD about the BolaWrap and therefore it was unlikely that the Company would secure a sizeable contract with the LAPD; and (6) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

If you acquired Wrap securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney at 212-371-6600, by email at [email protected], or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.

Kirby McInerney is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, and whistleblower litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney’s website: www.kmllp.com.

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Contacts

Kirby McInerney LLP
Thomas W. Elrod, Esq., (212) 371-6600
[email protected]
www.kmllp.com