Market Newsdesk

NEW YORK, Nov. 16, 2020 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Credit Acceptance Corporation (“Credit Acceptance” or the “Company”) (NASDAQ: CACC). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.

The investigation concerns whether Credit and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On August 13, 2020, Credit Acceptance disclosed that on August 11, 2020, the Company had received subpoenas from the Attorney General of the State of Maryland and from the Attorney General of the State of New Jersey. Describing the subpoenas as “substantively identical” to one another, Credit Acceptance advised investors that the subpoenas both “relat[ed] to the Company’s repossession and sale policies and procedures” and “the Company’s origination and collection policies and procedures.” Taken together with previously disclosed subpoenas received in March 2016 and April 2020, Credit Acceptance advised investors that the inquiries it faced now related to its operations in 39 states. 

On this news, Credit Acceptance’s stock price fell $19.05 per share, or 3.84%, over the following two trading sessions, closing at $476.78 per share on August 17, 2020.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980

NEW YORK, Nov. 16, 2020 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Turquoise Hills Resources Ltd. (“Turquoise Hills” or the “Company”) (NYSE: TRQ). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.

The investigation concerns whether Turquoise Hills and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On February 26, 2019, Turquoise Hill disclosed that although “the project cost” for the Company’s Oyu Tolgoi mine in Mongolia “was expected to remain within the $5.3 billion budget,” a review had determined that “there was an increasingly likely risk of a further delay to sustainable first production beyond Q3‘21.” Turquoise Hill attributed the “likely risk” to productivity delays in completing Shaft 2 and “challenging ground conditions that have had a direct impact on the project’s critical path.” On this news, Turquoise Hill’s stock price fell $2.10 per share, or 12.68%, to close at $1.83 per share on February 27, 2019. 

Then, on July 15, 2019, Turquoise Hill issued a press release announcing a further delay and that the underground project would cost substantially more than the Company had earlier stated. Sustainable first production from the underground development of Oyu Tolgoi would now be delayed by a further nine to twenty-one months until May 2022 to June 2023, and “the development capital spend for the project may increase by $1.2 to $1.9 billion over the $5.3 billion previously disclosed.” Turquoise Hill attributed the change to “[i]mproved rock mass information and geotechnical data modelling,” which “confirmed that there are stability risks associated with components of the existing mine design.” Turquoise Hill disclosed that the issues with the mine design were sufficiently unsettled that it would take until the second half of 2020 to develop a revised design for the mine.

Finally, on July 31, 2019, Turquoise Hill issued a press release and Management Discussion & Analysis making further disclosures about the status of the project, including that Turquoise Hill took a $600 million impairment charge and a substantial “deferred income tax recognition adjustment” tied to the Oyu Tolgoi project, and that it suffered a loss in the second quarter. The next day, pre-market, Rio Tinto issued a release concerning in part the project status, disclosing that it had also taken an impairment charge of $800 million related to the Oyu Tolgoi project. On this news, Turquoise Hill’s stock price fell $0.05 per share, or 8.62%, to close at $0.53 per share on August 1, 2019.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980

NEW YORK, Nov. 16, 2020 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Golar LNG Limited (“Golar” or the “Company”) (NASDAQ: GLNG).   Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.

The investigation concerns whether Golar and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On September 24, 2020, media outlets reported that Eduardo Navarro Antonello, Chief Executive Officer of Golar’s joint-venture subsidiary Hygo Energy Transition Ltd., had been implicated in a bribery network investigated in connection with the ongoing Brazilian criminal investigation Operation Car Wash. 

On this news, Golar’s stock price fell $3.28 per share, or approximately 32%, to close at $6.86 per share on September 24, 2020.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT: 
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980

ARLINGTON, Texas, Nov. 16, 2020 (GLOBE NEWSWIRE) — Greenway Technologies, Inc. (OTCQB: GWTI), (the “Company”), an advanced gas-to-liquids (“GTL”) technology development company, today responds to the November 4, 2020 Texas Railroad Commission (RRC) announcement aimed at further reducing flaring from oil and gas sites across the state.

The agency’s commissioners announced approval of revamped exceptions associated with Statewide Rule 32 which states that “all gas from any oil well, gas well, gas gathering system, gas plant or other gas handling equipment shall be utilized for purposes and uses authorized by law.”

RRC commissioners approved a revamped Form R-32 used for exceptions to Rule 32. Among the changes are a reduction in the period of time for a flaring exception, and incentives for operators that deploy technologies to reduce the amount of gas flared, as well as more strict reporting requirements.

GWTI offers a modular, relocatable, technology solution that converts flared gas into valuable end products including liquid fuel, water, and long chain organic hydrocarbons which was developed in conjunction with the University of Texas at Arlington. The patented technology has the potential to reduce flaring in Texas as well as to transform the global energy landscape by facilitating the conversion of previously uneconomic and often polluting natural gas into valuable fuels and chemicals.

Kent Harer, GWTI CEO stated that “GWTI has devoted itself over the last ten years to develop and prove this technology based on proprietary processes and procedures to perfect its clean fuels gas-to-liquids solution. We are pleased to offer this unique technology solution to support Texas’ efforts to reduce gas flaring. GWTI’s solution not only reduces or eliminates gas flaring, it also facilitates the monetization of the source gas paying for itself.”

About Greenway Technologies, Inc.

Based in Arlington, Texas, the Company, through its wholly owned subsidiary, Greenway Innovative Energy, Inc., is engaged in the research and development of proprietary GTL syngas conversion systems that can be scaled to meet oil and gas field production requirements. The Company’s patented technology has been integrated into its recently completed first-generation commercial G-Reformer^™ unit, a unique component used to convert natural gas into synthesis gas. When combined with a FT reactor and catalyst, G-Reformer^™ units can be deployed to process a variety of natural gas streams including pipeline gas, associated gas, flared gas, vented gas, coal-bed methane, and biomass to produce fuels including gasoline, diesel, jet fuel, and methanol. When derived from natural gas, these fuels are incrementally cleaner than conventionally produced oil-based fuels. For additional information about the Company, visit www.gwtechinc.com.

Forward-Looking Statements

Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend,” or similar expressions or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based only on information available to the Company as of the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including, without limitation, those set forth in the Company’s filings with the Securities and Exchange Commission, those associated with the uncertainty of obtaining future technology licensing agreements or sales, and those related to the ability of the Company to: (i) integrate the Company’s technology with existing plant technologies, (ii) produce and sell liquid fuels from such facility, and (iii) receive certification of the Company’s intellectual property. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events, or otherwise, except as required by law.

###

Investors & Analysts Contact:
Greenway Investor Relations
800-289-2515
[email protected]
SEC filings can be found at:
http://gwtechinc.com/SEC-filings/

For more information, visit GWTI’s website: www.gwtechinc.com

NEW YORK, Nov. 16, 2020 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Tactile Systems Technology, Inc. (“Tactile” or the “Company”) (NASDAQ: TCMD).   Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980. 

The investigation concerns whether Tactile and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On March 20, 2019, aftermarket hours, an amended federal qui tam complaint filed against Tactile by one of the Company’s competitors and pending in the Southern District of Texas was unsealed.  The qui tam complaint contained detailed allegations of illegal sales practices on the part of Tactile, causing the Company to submit fraudulent claims to Medicare and the Veteran’s Administration.  Specifically, the qui tam complaint accused Tactile of illegally paying hospital staff to induce physicians to prescribe its medical devices.  The qui tam complaint further alleged that the Company had violated anti-kickback laws by paying physicians to be “advisors” and “paid spokesmen” when these financial relationships were merely a way to secure those doctors’ business.  

On this news, Tactile’s stock price fell $4.53 per share over the next two trading days, or 7.5%, to close at $55.57 per share on March 22, 2019. 

Then, on February 21, 2020, the court issued an order in the qui tam action, denying Tactile’s motion to dismiss the complaint in its entirety.  On this news, Tactile’s stock price fell $6.65 per share, or 10.59%, to close at $56.09 per share on February 24, 2020.  Finally, on June 8, 2020, the research firm OSS Research (“OSS”) published a report about the Company entitled “Strong Sell on Tactile Systems: Bloated Stock Needs Compression Therapy.”  In the report, OSS accused Tactile of (1) overstating its total addressable market by nearly $4.7 billion, (2) using a “‘daisy-chaining kickback scheme’ that has resulted in rampant overprescribing and rapid market share gains at the expense of patients, insurers and the public,” and (3) concealing Medicare audits resulting in denials, for failure to establish medical necessity, of 71% of Tactile’s submitted claims. 

On this news, the Company’s stock price fell $6.05 per share, or 11.69%, to close at $45.67 per share on June 9, 2020.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT: 
Robert S. Willoughby
Pomerantz LLP 
[email protected]
888-476-6529 ext. 7980

NEW YORK, Nov. 16, 2020 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Pintec Technology Holdings Limited (“Pintec” or the “Company”) (NASDAQ: PT).   Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.

The investigation concerns whether Pintec and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

In October 2018, Pintec completed its initial public offering (“IPO”), selling more than 3.7 million American Depositary Shares (“ADSs”) priced at $11.88 per share.  On July 30, 2019, after the market closed, the Company filed its fiscal 2018 annual report, in which it restated previously disclosed financial results.  Among other things, the Company reported net income of $315,000 for fiscal 2018, compared to its prior disclosure of $1.068 million net income.  

Pintec also disclosed that there were material weaknesses in its internal control over financial reporting related to cash advances outside the normal course of business to Jimu Group, a related party, and to a non-routine loan financing transaction with a third-party entity, Plutux Labs.  On this news, Pintec’s ADS price fell $0.53 per share, or more than 13%, over the following trading sessions, to close at $3.40 per share on August 5, 2019. 

Then, on June 15, 2020, Pintec disclosed that it could not timely file its fiscal 2019 annual report and that it anticipated reporting a significant change in results of operations.  Specifically, the Company disclosed that it “erroneously recorded revenue earned from certain technical service fee on a net basis” for fiscal 2017 and 2018.  Moreover, Pintec “announced a net loss of RMB906.5 million in the full year of 2019 due to RMB890.7 million of provision for credit loss in amounts due from a related party, Jimu Group, and RMB200 million of impairment in prepayment for long-term investment.”  Since the IPO, Pintec’s ADSs have closed as low as $0.47 per share, representing a decline of more than 96% from the IPO price.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980

NEW YORK, Nov. 16, 2020 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Fluidigm Corporation (“Fluidigm” or the “Company”) (NASDAQ: FLDM). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.

The investigation concerns whether Fluidigm and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On August 1, 2019, Fluidigm reported second quarter 2019 revenues of $28.2 million, well below analysts’ expectations of $32 million, citing weakness in the Company’s microfluidics segment. On this news, Fluidigm’s stock price fell $4.10 per share, or 34%, to close at $8.05 per share on August 2, 2019. 

Then, on November 5, 2019, Fluidigm reported that its third quarter 2019 revenue had declined 8.5% year-over-year. On this news, Fluidigm’s stock price fell $2.60 per share, or 51%, to close at $2.51 per share on November 6, 2019.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980

NEW YORK, Nov. 16, 2020 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of NextCure (“NextCure” or the “Company”) (NASDAQ: NXTC). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.

The investigation concerns whether NextCure and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

[Click here for information about joining the class action]

On January 13, 2020, NextCure disclosed in a U.S. Securities and Exchange Commission filing that Eli Lilly and Company had ended its 2018 research and development collaboration agreement with NextCure.

On this news, NextCure’s stock price fell $4.70 per share, or 8.29%, to close at $52.00 per share on January 13, 2020.

Then, on July 13, 2020, NextCure issued a press release announcing that the Company no longer planned to “advance the non-small cell lung cancer (NSCLC) and ovarian cancer cohorts in the stage 2 portion of the Simon 2-stage trial” for its NC318 immunomedicine product, citing “clinical response data” and “current enrollment criteria.” NextCure concurrently announced the resignation of Kevin N. Heller from his role as the Company’s Chief Medical Officer.

On this news, NextCure’s stock price fell $9.73 per share, or more than 54%, to close at $8.15 per share on July 13, 2020.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980

NEW YORK, Nov. 16, 2020 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Peabody Energy Corporation (“Peabody” or the “Company”) (NYSE: BTU).   Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.

The investigation concerns whether Peabody and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On September 28, 2018, a fire occurred at Peabody’s North Goonyella coal mine in Central Queensland, Australia, forcing Peabody to suspend its operations indefinitely.  On this news, Peabody’s stock price fell $5.54 per share, or 15.3%, to close at $35.64 per share on September 28, 2018. 

On February 6, 2019, Peabody disclosed that contrary to the Company’s previous statements, production at the North Goonyella would not resume in 2019, but was instead targeted to begin to ramp in the early months of 2020.  On this news, Peabody’s stock price fell $3.80 per share, or 10.6%, to close at $32.05 per share on February 6, 2019. 

On May 1, 2019, Peabody reported that it had received a directive from the Queensland Mines Inspectorate (“QMI”) which could lead to further delays and necessitate a reevaluation of the Company’s reentry plan for the mine.  On this news, Peabody’s stock price fell $1.61 per share, or 5.6%, to close at $27.16 per share on May 1, 2019. 

On July 31, 2019, Peabody reported additional delays to the reentry of North Goonyella, explaining that QMI’s requirements had resulted in a slower rate of progress than Peabody’s initial plan had contemplated.  As a results, Peabody suspended its 2020 production guidance at the mine and informed investors that it was reevaluating its entire reentry plan.  On this news, Peabody’s stock price fell $1.06 per share, or 4.8%, to close at $21.06 per share on July 31, 2019.

On August 9, 2019, QMI released preliminary investigative findings indicating that Peabody had deficient safety systems in place at its North Goonyella mine and that the Company was not cooperating fully with QMI’s investigation.  On this news, Peabody’s stock price fell $0.37 per share, or 2%, to close at $18.13 per share on August 9, 2019. 

Finally, on October 29, 2019, Peabody disclosed that QMI was placing stringent restrictions on restarting operations at the North Goonyella mine, forcing Peabody to drastically adjust its reentry plan, ultimately announcing that there would be a delay of at least three years before any meaningful coal could be produced at the North Goonyella mine.  On this news, Peabody’s stock price fell $3.56 per share, or 22.19%, to close at $12.48 per share on October 29, 2019.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980