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Cincinnati Financial Corporation Declares Regular Quarterly Cash Dividend

PR Newswire

CINCINNATI, Nov. 13, 2020 /PRNewswire/ — Cincinnati Financial Corporation (Nasdaq: CINF) announced that, at today’s regular meeting, the board of directors declared a 60-cents-per-share regular quarterly cash dividend. The dividend is payable January 15, 2021, to shareholders of record as of December 16, 2020.

Steven J. Johnston, chairman, president and chief executive officer, commented: “Regular dividends are the company’s primary method of returning capital to shareholders. We continue to see positive trends in our core insurance business, reflecting the strength of our agency relationships and demonstrating our associates’ steady dedication to executing on our strategy. Combining those positive trends with the company’s outstanding financial strength supports rewarding shareholders now, and in the future.”

About Cincinnati Financial

Cincinnati Financial Corporation offers primarily business, home and auto insurance through The Cincinnati Insurance Company and its two standard market property casualty companies. The same local independent insurance agencies that market those policies may offer products of our other subsidiaries, including life insurance, fixed annuities and surplus lines property and casualty insurance. For additional information about the company, please visit cinfin.com.

Mailing Address:

Street Address:

P.O. Box 145496

6200 South Gilmore Road

Cincinnati, Ohio 45250-5496

Fairfield, Ohio 45014-5141

Safe Harbor Statement

This is our “Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995. Our business is subject to certain risks and uncertainties that may cause actual results to differ materially from those suggested by the forward-looking statements in this report. Some of those risks and uncertainties are discussed in our 2019 Annual Report on Form 10-K, Item 1A, Risk Factors, Page 35 and Item 1A, Risk Factors in our subsequent Quarterly Reports on Form 10-Q.

Factors that could cause or contribute to such differences include, but are not limited to:

  • Effects of the COVID-19 pandemic that could affect results for reasons such as: 
    • Securities market disruption or volatility and related effects such as decreased economic activity that affect the company’s investment portfolio and book value
    • An unusually high level of claims in our insurance or reinsurance operations that increase litigation-related expenses
    • An unusually high level of insurance losses, including risk of legislation or court decisions extending business interruption insurance in commercial property coverage forms to cover claims for pure economic loss related to the COVID-19 pandemic
    • Decreased premium revenue and cash flow from disruption to our distribution channel of independent agents, consumer self-isolation, travel limitations, business restrictions and decreased economic activity
    • Inability of our workforce, agencies or vendors to perform necessary business functions
  • Unusually high levels of catastrophe losses due to risk concentrations, changes in weather patterns, environmental events, terrorism incidents or other causes
  • Increased frequency and/or severity of claims or development of claims that are unforeseen at the time of policy issuance
  • Inadequate estimates, assumptions or reliance on third-party data used for critical accounting estimates
  • Declines in overall stock market values negatively affecting the company’s equity portfolio and book value
  • Prolonged low interest rate environment or other factors that limit the company’s ability to generate growth in investment income or interest rate fluctuations that result in declining values of fixed-maturity investments, including declines in accounts in which we hold bank-owned life insurance contract assets
  • Domestic and global events resulting in capital market or credit market uncertainty, followed by prolonged periods of economic instability or recession, that lead to:
    • Significant or prolonged decline in the fair value of a particular security or group of securities and impairment of the asset(s)
    • Significant decline in investment income due to reduced or eliminated dividend payouts from a particular security or group of securities
    • Significant rise in losses from surety and director and officer policies written for financial institutions or other insured entities
  • Our inability to integrate Cincinnati Global and its subsidiaries into our on-going operations, or disruptions to our on-going operations due to such integration
  • Recession or other economic conditions resulting in lower demand for insurance products or increased payment delinquencies
  • Difficulties with technology or data security breaches, including cyberattacks, that could negatively affect our ability to conduct business; disrupt our relationships with agents, policyholders and others; cause reputational damage, mitigation expenses and data loss and expose us to liability under federal and state laws
  • Disruption of the insurance market caused by technology innovations such as driverless cars that could decrease consumer demand for insurance products
  • Delays, inadequate data developed internally or from third parties, or performance inadequacies from ongoing development and implementation of underwriting and pricing methods, including telematics and other usage-based insurance methods, or technology projects and enhancements expected to increase our pricing accuracy, underwriting profit and competitiveness
  • Increased competition that could result in a significant reduction in the company’s premium volume
  • Changing consumer insurance-buying habits and consolidation of independent insurance agencies that could alter our competitive advantages
  • Inability to obtain adequate ceded reinsurance on acceptable terms, amount of reinsurance coverage purchased, financial strength of reinsurers and the potential for nonpayment or delay in payment by reinsurers
  • Inability to defer policy acquisition costs for any business segment if pricing and loss trends would lead management to conclude that segment could not achieve sustainable profitability
  • Inability of our subsidiaries to pay dividends consistent with current or past levels
  • Events or conditions that could weaken or harm the company’s relationships with its independent agencies and hamper opportunities to add new agencies, resulting in limitations on the company’s opportunities for growth, such as:
    • Downgrades of the company’s financial strength ratings
    • Concerns that doing business with the company is too difficult
    • Perceptions that the company’s level of service, particularly claims service, is no longer a distinguishing characteristic in the marketplace
    • Inability or unwillingness to nimbly develop and introduce coverage product updates and innovations that our competitors offer and consumers expect to find in the marketplace
  • Actions of insurance departments, state attorneys general or other regulatory agencies, including a change to a federal system of regulation from a state-based system, that:
    • Impose new obligations on us that increase our expenses or change the assumptions underlying our critical accounting estimates
    • Place the insurance industry under greater regulatory scrutiny or result in new statutes, rules and regulations
    • Restrict our ability to exit or reduce writings of unprofitable coverages or lines of business
    • Add assessments for guaranty funds, other insurance–related assessments or mandatory reinsurance arrangements; or that impair our ability to recover such assessments through future surcharges or other rate changes
    • Increase our provision for federal income taxes due to changes in tax law
    • Increase our other expenses
    • Limit our ability to set fair, adequate and reasonable rates
    • Place us at a disadvantage in the marketplace
    • Restrict our ability to execute our business model, including the way we compensate agents
  • Adverse outcomes from litigation or administrative proceedings
  • Events or actions, including unauthorized intentional circumvention of controls, that reduce the company’s future ability to maintain effective internal control over financial reporting under the Sarbanes-Oxley Act of 2002
  • Unforeseen departure of certain executive officers or other key employees due to retirement, health or other causes that could interrupt progress toward important strategic goals or diminish the effectiveness of certain longstanding relationships with insurance agents and others
  • Events, such as an epidemic, natural catastrophe or terrorism, that could hamper our ability to assemble our workforce at our headquarters location

Further, the company’s insurance businesses are subject to the effects of changing social, global, economic and regulatory environments. Public and regulatory initiatives have included efforts to adversely influence and restrict premium rates, restrict the ability to cancel policies, impose underwriting standards and expand overall regulation. The company also is subject to public and regulatory initiatives that can affect the market value for its common stock, such as measures affecting corporate financial reporting and governance. The ultimate changes and eventual effects, if any, of these initiatives are uncertain.

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/cincinnati-financial-corporation-declares-regular-quarterly-cash-dividend-301172869.html

SOURCE Cincinnati Financial Corporation

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OXE Marine AB distributor Diesel Outboards LLC confirmes order for more than 50 OXE300 from US government for deployment in Central America

PR Newswire

STOCKHOLM, Nov. 10, 2020 /PRNewswire/ — OXE Marine AB (the Company) distributor, Diesel Outboards LLC, announced today that Spartan Corporation a premier Dealer for Diesel Outboards LLC has been awarded a US Government multiyear contract to outfit and support operations in Central America.

The initial order received is for fifty (50) OXE300 and has been received and accepted from Spartan Corporation (a premium dealer for Diesel Outboards LLC). Spartan will also supply the full life cycle support, logistical support and maintenance within the contracted operational area in Central America as part of the parts/service/spares solutions.

Spartan Corp is answering the US government call to support interdiction operations in Central America to stem the tide of illicit operations in the region. This undertaking demands dependable and powerful engines to meet the requirements of peacekeepers. Spartan Corp has chosen the OXE Diesel outboards to provide engines to meet the challenges of this austere environment to ensure the success of this critical work.

“We are honored and thrilled to focus our experienced team on building a flagship sales and service operation as new OXE Diesel Dealers as part of the Diesel Outboards family in the Tampa Bay Area. Our team is ready to support the Government, Commercial, and private customers in the region.” Jess Loban Founder / CEO of Spartan Corp.

The OXE Diesel is designed and built for commercial users. Endurance, reliability, power and control is key. The world’s first commercial diesel outboard, the OXE Diesel combines, the reliability and endurance of marine inboards with the flexibility and agility of outboard engines, offering unprecedented efficiency, range and torque.

The OXE300 is the latest edition in the diesel outboard family from OXE Marine AB. The OXE300 is a bi-turbo configuration that provides its full 680Nm of torque at the crankshaft already at 1750rpm, at 1000rpm the engine provides over 500Nm at the crankshaft. These torque numbers provide end users with massive bollard pulling power as well as fast whole shot acceleration.

Spartan recently established a new facility to sell and service OXE Diesel outboards engines in St. Petersburg FL. They will be a fully stocked dealer offering technical and service support to the surrounding areas.

Diesel Outboards LLC, a division of the Outdoor Network. Outdoor Network LLC, are a premiere dealer and distributor powerhouse with one goal in mind: to get the user equipped with OEM equipment and parts and keep them running at the best pricing available, whether they need a completely new machine or just the parts in the fastest and efficient time possible. They service both retail and commercial accounts in over 120 countries.

Certified Adviser

FNCA Sweden AB is Certified Adviser for OXE Marine AB (publ). Contact details to FNCA Sweden AB: tel. +46 8 528 00 399, e-mail [email protected].

For further information, please contact:

Myron Mahendra, CEO, [email protected], +46 76 347 59 82
Anders Berg, Chairman, [email protected], +46 70 358 91 55

About OXE Marine AB

OXE Marine AB (publ) (NASDAQ STO: OXE, OTCQX: CMMCF) has, after several years of development, constructed the OXE Diesel, the world’s first diesel outboard engine in the high-power segment. The Company’s unique patented engine-to-propulsion power transmission solutions have led to high demand for the Company’s engines worldwide. 

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/oxe-marine-ab/r/oxe-marine-ab-distributor-diesel-outboards-llc-confirmes-order-for-more-than-50-oxe300-from-us-gover,c3234430

The following files are available for download:


https://mb.cision.com/Main/16067/3234430/1333034.pdf

OXE Marine AB distributor Diesel Outboards LLC confirm order from US government for deployment in Central America


https://news.cision.com/oxe-marine-ab/i/oxe-back-free,c2848277

OXE back free

SOURCE OXE Marine AB

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Serena Ryder, The Trews to headline star-studded CP ‘Holiday Train at Home’ concert; Holiday Train approaches $20 million raised

PR Newswire

CALGARY, AB, Nov. 13, 2020 /PRNewswire/ – Serena Ryder and The Trews will headline CP’s 2020 “Holiday Train at Home” concert, which will stream on CP’s Facebook page on Dec. 12. The event will raise money and awareness and help local food banks collect much-needed donations.

The Dec. 12 concert, scheduled for 6 p.m. MT/8 p.m. ET, will also feature performances by JoJo Mason, Logan Staats and Kelly Prescott. CP Holiday Train fans will be able to view the concert by visiting facebook.com/canadian.pacific at the show’s start time. An archived version of the show will remain on the page for later viewing.

“For more than two decades, the CP family has supported Canadians and Americans in need through the CP Holiday Train program,” said CP President and CEO Keith Creel. “In a year full of challenge and loss, we will host this concert as a call to action for the train’s supporters to donate generously if they can this Christmas season. The spirit of the Holiday Train will come alive even though the train itself will not operate due to the COVID-19 pandemic.”

CP will donate $1.24 million this year to 201 food banks in communities that ordinarily host CP Holiday Train events. In a normal year, CP calls on attendees at local shows to make a cash or non-perishable food donation. With the “Holiday Train at Home” concert, CP hopes to inspire donations from across North America even though local shows won’t occur. Viewers seeking to donate will be directed to Food Banks Canada and Feeding America, the national organizations that support community food banks in their respective countries. Viewers are also encouraged to give to their local food bank.

“I’m so excited to be part of the virtual CP Holiday Train this year, helping raise awareness and funds for local food banks in this time of extraordinary need,” headliner Serena Ryder said. “Watch the concert on Dec. 12, and if you can, please give a little bit to support those in need!”

CP’s 2020 corporate donation will bring the total amount of money raised at CP Holiday Train stops to $19.05 million since the train’s inception in 1999. Food banks have also collected 4.8 million pounds of food donations at local Holiday Train events.

About Canadian Pacific
Canadian Pacific is a transcontinental railway in Canada and the United States with direct links to major ports on the west and east coasts. CP provides North American customers a competitive rail service with access to key markets in every corner of the globe. CP is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpr.ca to see the rail advantages of CP.

Cision View original content:http://www.prnewswire.com/news-releases/serena-ryder-the-trews-to-headline-star-studded-cp-holiday-train-at-home-concert-holiday-train-approaches-20-million-raised-301172450.html

SOURCE Canadian Pacific

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Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Credit Acceptance Corporation (CACC)

PR Newswire

LOS ANGELES, Nov. 13, 2020 /PRNewswire/ — Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming December 1, 2020 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Credit Acceptance Corporation (“Credit Acceptance” or the “Company”) (NASDAQ: CACC) common stock between November 1, 2019 and August 28, 2020, inclusive (the “Class Period”).

If you suffered a loss on your Credit Acceptance investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https://www.glancylaw.com/cases/credit-acceptance-corporation/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, via email [email protected] or visit our website at www.glancylaw.com to learn more about your rights.   

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.  

Follow us for updates on LinkedIn, Twitter, or Facebook.

If you purchased or otherwise acquired Credit Acceptance common stock during the Class Period, you may move the Court no later than December 1, 2020 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.  

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

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/glancy-prongay–murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-credit-acceptance-corporation-cacc-301172546.html

SOURCE Glancy Prongay & Murray LLP

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Cummins Closes on NPROXX Joint Venture for Hydrogen Storage

Cummins Closes on NPROXX Joint Venture for Hydrogen Storage

COLUMBUS, Ind.–(BUSINESS WIRE)–
Cummins Inc. (NYSE: CMI) today announced that it closed on the previously announced NPROXX joint venture with ETC for hydrogen storage tanks.

“NPROXX’s leading hydrogen storage products are an exciting complement to our broad and differentiated hydrogen portfolio,” said Amy Davis, Vice President and President, New Power at Cummins Inc. “Many companies aspire to shape tomorrow’s hydrogen economy, but very few have all of the elements required. We are excited to bring together Cummins’ 100 years of experience in launching new products, partnerships and customer support with NPROXX’s innovative hydrogen storage tank solutions.”

The joint venture will provide customers with hydrogen products for both on-highway and rail applications. Leveraging more than 40 years of centrifuge technology from ETC, NPROXX has been supplying carbon fiber tanks for more than two years with products in bus, truck, train and other on-highway applications.

“We admire Cummins’ scale advantage, global reach and deep understanding of their customers, and our teams are united in our shared commitment to unlock the potential of hydrogen,” said Rainer vor dem Esche, Managing Director, NPROXX. “Together, we can provide unique and reliable hydrogen storage options that will accelerate the availability of hydrogen solutions for our customers.”

NPROXX’s type 4 hydrogen pressure vessels are equipped to serve a wide range of industries, including commercial vehicles, passenger vehicles, trains and refueling infrastructure applications. The technology can also be modified for use in multiple fuel types, including natural gas.

Cummins and ETC will each own 50 percent of the new joint venture. The unconsolidated joint venture results will be included as part of Cummins’ New Power business segment, led by Davis.

Cummins is quickly emerging as the hydrogen leader for commercial and industrial industries. To date, the company has more than 500 electrolyzer installations and 2,000 fuel cell installations worldwide. Its electrolyzers are in fueling stations on five continents, including the first fueling stations in Scotland, Sweden, Norway and Southeast Asia.

Want to learn more about Cummins investments across the hydrogen supply chain? Join company leaders including Chairman and CEO Tom Lingebarger at 10:30 a.m. (EST) Nov. 16 for Cummins Hydrogen Day. Click here to register.

About Cummins Inc.

Cummins Inc., a global power leader, is a corporation of complementary business segments that design, manufacture, distribute and service a broad portfolio of power solutions. The company’s products range from diesel, natural gas, electric and hybrid powertrains and powertrain-related components including filtration, aftertreatment, turbochargers, fuel systems, controls systems, air handling systems, automated transmissions, electric power generation systems, batteries, electrified power systems, hydrogen generation and fuel cell products. Headquartered in Columbus, Indiana (U.S.), since its founding in 1919, Cummins employs approximately 61,600 people committed to powering a more prosperous world through three global corporate responsibility priorities critical to healthy communities: education, environment and equality of opportunity. Cummins serves its customers online, through a network of company-owned and independent distributor locations, and through thousands of dealer locations worldwide and earned about $2.3 billion on sales of $23.6 billion in 2019. See how Cummins is powering a world that’s always on by accessing news releases and more information at https://www.cummins.com/always-on.

About NPROXX

NPROXX is a global leader in designing, developing and manufacturing Type 4 pressure vessels for the storage of hydrogen under high pressure. Based on 40 years experience in carbon-fibre-reinforced polymer (CFRP) products and systems in various industries NPROXX provides composite tank systems and tailor made solutions for hydrogen storage applications: Transport and storage (500 bar, 1000 bar), Heavy duty vehicles, busses and ships (350 bar), Automotive (700 bar). More information can be found on our news and case studies page at https://www.nproxx.com/news-and-case-studies/

Forward-looking disclosure statement

Information provided in this release that is not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our forecasts, guidance, preliminary results, expectations, hopes, beliefs and intentions on strategies regarding the future. These forward-looking statements include, without limitation, statements relating to our plans and expectations for our revenues and EBITDA. Our actual future results could differ materially from those projected in such forward-looking statements because of a number of factors, including, but not limited to: market slowdown due to the impacts from COVID-19 pandemic, other public health crises, epidemics or pandemics; impacts to manufacturing and supply chain abilities from an extended shutdown or disruption of our operations due to the COVID-19 pandemic; supply shortages and supplier financial risk, particularly from any of our single-sourced suppliers, including suppliers that may be impacted by the COVID-19 pandemic; aligning our capacity and production with our demand, including impacts of COVID-19; a major customer experiencing financial distress, particularly related to the COVID-19 pandemic; any adverse results of our internal review into our emissions certification process and compliance with emission standards; increased scrutiny from regulatory agencies, as well as unpredictability in the adoption, implementation and enforcement of emission standards around the world; disruptions in global credit and financial markets as the result of the COVID-19 pandemic; adverse impacts from government actions to stabilize credit markets and financial institutions and other industries; product recalls; the development of new technologies that reduce demand for our current products and services; policy changes in international trade; a slowdown in infrastructure development and/or depressed commodity prices; the U.K.’s decision to end its membership in the European Union (EU); labor relations or work stoppages; reliance on our executive leadership team and other key personnel; lower than expected acceptance of new or existing products or services; changes in the engine outsourcing practices of significant customers; our plan to reposition our portfolio of product offerings through exploration of strategic acquisitions and divestitures and related uncertainties of entering such transactions; exposure to potential security breaches or other disruptions to our information technology systems and data security; challenges or unexpected costs in completing cost reduction actions and restructuring initiatives; failure to realize expected results from our investment in Eaton Cummins Automated Transmission Technologies joint venture; political, economic and other risks from operations in numerous countries; competitor activity; increasing competition, including increased global competition among our customers in emerging markets; foreign currency exchange rate changes; variability in material and commodity costs; the actions of, and income from, joint ventures and other investees that we do not directly control; changes in taxation; global legal and ethical compliance costs and risks; product liability claims; increasingly stringent environmental laws and regulations; the performance of our pension plan assets and volatility of discount rates, particularly those related to the sustained slowdown of the global economy due to the COVID-19 pandemic; future bans or limitations on the use of diesel-powered products; the price and availability of energy; our sales mix of products; protection and validity of our patent and other intellectual property rights; the outcome of pending and future litigation and governmental proceedings; continued availability of financing, financial instruments and financial resources in the amounts, at the times and on the terms required to support our future business; and other risks detailed from time to time in our SEC filings, including particularly in the Risk Factors section of our 2019 Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. More detailed information about factors that may affect our performance may be found in our filings with the SEC, which are available at http://www.sec.gov or at http://www.cummins.com in the Investor Relations section of our website.

Jon Mills – Director, External Communications

(317) 658-4540

[email protected]

KEYWORDS: Indiana United States North America

INDUSTRY KEYWORDS: Public Transport Other Transport Trucking Rail Maritime Other Energy Transport Alternative Energy Energy Logistics/Supply Chain Management

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InterRent Announces November 2020 Distributions

InterRent Announces November 2020 Distributions

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

OTTAWA, Ontario–(BUSINESS WIRE)–
InterRent Real Estate Investment Trust (TSX-IIP.UN) (“InterRent”) announced today that its distribution declared for the month of November 2020 is $0.027125 per Trust unit, equal to $0.3255 per Trust unit on an annualized basis. As previously announced, the trustees decided to increase the amount of future distributions as a result of InterRent’s portfolio demonstrating strong sustainable results. This month’s distribution represents a 5% increase over the previous 2020 monthly distributions. Payment will be made on or about December 15, 2020 to unitholders of record on November 30, 2020.

About InterRent

InterRent REIT is a growth-oriented real estate investment trust engaged in increasing Unitholder value and creating a growing and sustainable distribution through the acquisition and ownership of multi-residential properties.

InterRent’s strategy is to expand its portfolio primarily within markets that have exhibited stable market vacancies, sufficient suites available to attain the critical mass necessary to implement an efficient portfolio management structure and, offer opportunities for accretive acquisitions.

InterRent’s primary objectives are to use the proven industry experience of the Trustees, Management and Operational Team to: (i) to grow both funds from operations per Unit and net asset value per Unit through investments in a diversified portfolio of multi-residential properties; (ii) to provide Unitholders with sustainable and growing cash distributions, payable monthly; and (iii) to maintain a conservative payout ratio and balance sheet.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Mike McGahan

Chief Executive Officer

Tel: (613) 569-5699 Ext 244

Fax: (613) 569-5698

e-mail: [email protected]

Brad Cutsey, CFA

President

Tel: (613) 569-5699 Ext 226

Fax: (613) 569-5698

e-mail: [email protected]

Curt Millar, CPA, CA

Chief Financial Officer

Tel: (613) 569-5699 Ext 233

Fax: (613) 569-5698

e-mail: [email protected]

KEYWORDS: North America Canada

INDUSTRY KEYWORDS: Commercial Building & Real Estate Construction & Property Finance Consulting Banking Professional Services REIT Residential Building & Real Estate

MEDIA:

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Digirad Corporation to Present at Investor Conferences in November

SUWANEE, Ga., Nov. 13, 2020 (GLOBE NEWSWIRE) — Digirad Corporation (Nasdaq: DRAD; DRADP) (“Digirad” or the “Company”), a diversified holding company with three divisions: Healthcare, Building & Construction, and Real Estate & Investments, today announced that its management team will participate at the following investors conferences:

  • November 17: Craig-Hallum Alpha Select Virtual Conference
  • November 18: The Benchmark Company Discovery One on One Virtual Investor Conference

Digirad’s management will be hosting virtual meetings with investors during both days. Investors can download a PDF copy of the presentation by visiting Digirad’s Investor Relations section of the website: http://ir.digirad.com/

About Digirad Corporation

Digirad Corporation is a diversified holding company with three divisions: Healthcare, Building & Construction, and Real Estate & Investments.

Healthcare Division (Digirad Health)

Digirad Health designs, manufactures, and distributes diagnostic medical imaging products. Digirad Health operates in three businesses: Diagnostic Services, Mobile Healthcare, and Diagnostic Imaging. The Diagnostic Services business offers imaging and monitoring services to healthcare providers as an alternative to purchasing the equipment or outsourcing the procedure. The Mobile Healthcare business provides contract diagnostic imaging, including computerized tomography (“CT”), magnetic resonance imaging (“MRI”), positron emission tomography (“PET”), PET/CT, and nuclear medicine and healthcare expertise through a convenient mobile service. The Diagnostic Imaging business develops, sells, and maintains solid-state gamma cameras.

Building & Construction Division (ATRM)

ATRM Holdings, Inc. (“ATRM”) manufactures modular housing units for commercial and residential applications. ATRM operates in two businesses: (i) modular building manufacturing and (ii) structural wall panel and wood foundation manufacturing, including building supply retail operations. The modular building manufacturing business is operated by KBS Builders, Inc. (“KBS”), the structural wall panel and wood foundation manufacturing segment is operated by EdgeBuilder, Inc. (“EdgeBuilder”), and the retail building supplies are sold through Glenbrook Building Supply, Inc. (“Glenbrook”). KBS, EdgeBuilder and Glenbrook are wholly-owned subsidiaries of ATRM, which is a wholly-owned subsidiary of Digirad.

Real Estate & Investments Division

This business division manages the Company’s real estate assets and investments.

Forward-Looking Statements Disclaimer Statement

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this release that are not statements of historical fact are hereby identified as “forward-looking statements” for the purpose of the safe harbor provided by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking Statements include, without limitation, statements regarding (i) the plans and objectives of management for future operations, including plans or objectives relating to acquisitions and related integration, development of commercially viable products, novel technologies, and modern applicable services, (ii) projections of income (including income/loss), EBITDA, earnings (including earnings/loss) per share, free cash flow (FCF), capital expenditures, cost reductions, capital structure or other financial items, (iii) the future financial performance of Digirad Corporation or acquisition targets and (iv) the assumptions underlying or relating to any statement described above. Moreover, forward-looking statements necessarily involve assumptions on the Company’s part. These forward-looking statements generally are identified by the words “believe”, “expect”, “anticipate”, “estimate”, “project”, “intend”, “plan”, “should”, “may”, “will”, “would”, “will be”, “will continue” or similar expressions. Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and may not be realized because they are based upon the Company’s current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to a number of risks and uncertainties and other influences, many of which the Company has no control over. Actual results and the timing of certain events and circumstances may differ materially from those described above as a result of these risks and uncertainties. Factors that may influence or contribute to the inaccuracy of forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, the substantial amount of debt of the Company and the Company’s ability to repay or refinance it or incur additional debt in the future; the Company’s need for a significant amount of cash to service and repay the debt and to pay dividends on the Company’s preferred stock; the restrictions contained in the debt agreements that limit the discretion of management in operating the business; legal, regulatory, political and economic risks in markets and public health crises that reduce economic activity and cause restrictions on operations (including the recent coronavirus COVID-19 outbreak); the length of time associated with servicing customers; losses of significant contracts or failure to get potential contracts being discussed; disruptions in the relationship with third party vendors; accounts receivable turnover; insufficient cash flows and resulting in liquidity; the Company’s inability to expand the Company’s business; unfavorable changes in the extensive governmental legislation and regulations governing healthcare providers and the provision of healthcare services and the competitive impact of such changes (including unfavorable changes to reimbursement policies); high costs of regulatory compliance; the liability and compliance costs regarding environmental regulations; the underlying condition of the technology support industry; the lack of product diversification; development and introduction of new technologies and intense competition in the healthcare industry; existing or increased competition; risks to the price and volatility of the Company’s common stock and preferred stock; stock volatility and in liquidity; risks to preferred stockholders of not receiving dividends and risks to the Company’s ability to pursue growth opportunities if the Company continues to pay dividends according to the terms of the Company’s preferred stock; the Company’s ability to execute on its business strategy (including any cost reduction plans); the Company’s failure to realize expected benefits of restructuring and cost-cutting actions; the Company’s ability to preserve and monetize its net operating losses; risks associated with the Company’s possible pursuit of acquisitions; the Company’s ability to consummate successful acquisitions and execute related integration, including to successfully integrate ATRM’s operations and realize the synergies from the acquisition of ATRM, as well as factors related to the Company’s business (including ATRM) including economic and financial market conditions generally and economic conditions in the Company’s markets; failure to keep pace with evolving technologies and difficulties integrating technologies; system failures; losses of key management personnel and the inability to attract and retain highly qualified management and personnel in the future; and the continued demand for and market acceptance of the Company’s services. For a detailed discussion of cautionary statements and risks that may affect the Company’s future results of operations and financial results, please refer to the Company’s filings with the Securities and Exchange Commission, including, but not limited to, the risk factors in the Company’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. This release reflects management’s views as of the date presented.

All forward-looking statements are necessarily only estimates of future results, and there can be no assurance that actual results will not differ materially from expectations, and, therefore, you are cautioned not to place undue reliance on such statements. Further, any forward-looking statement speaks only as of the date on which it is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events.


For more information contact:
 		 
Digirad Corporation The
Equity Group
Jeffrey E. Eberwein Lena Cati
Chairman of the Board The Equity Group
203-489-9501 212-836-9611
[email protected] [email protected]

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Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Intercept Pharmaceuticals, Inc. (ICPT)

Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Intercept Pharmaceuticals, Inc. (ICPT)

BENSALEM, Pa.–(BUSINESS WIRE)–
Law Offices of Howard G. Smith reminds investors of the upcoming January 4, 2021 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased Intercept Pharmaceuticals, Inc. (“Intercept” or the “Company”) (NASDAQ: ICPT) securities between September 28, 2019 and October 7, 2020,inclusive (the “Class Period”).

Investors suffering losses on their Intercept investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to [email protected].

Intercept is a biopharmaceutical company that focuses on the development and commercialization of therapeutics to treat progressive non-viral liver diseases in the U.S. Its lead product candidate is Ocaliva (“OCA”) used for the treatment of primary biliary cholangitis (“PBC”). The Company is also developing Ocaliva for other indications, including nonalcoholic steatohepatitis (“NASH”).

On May 22, 2020, Intercept stated that the U.S. Food and Drug Administration (“FDA”) “has notified Intercept that its tentatively scheduled June 9, 2020 advisory committee meeting (AdCom) relating to the company’s [NDA] for [OCA] for the treatment of liver fibrosis due to [NASH] has been postponed” to “accommodate the review of additional data requested by the FDA that the company intends to submit within the next week.”

On this news, Intercept’s stock price fell $11.18 per share, or 12%, to close at $80.51 per share on May 22, 2020.

On June 29, 2020, Intercept disclosed receipt of a Complete Response Letter (“CRL”) from the FDA rejecting its NDA for Ocaliva for the treatment of liver fibrosis due to NASH. According to the CRL, “[t]he FDA recommends that Intercept submit additional post-interim analysis efficacy and safety data from the ongoing REGENERATE study in support of potential accelerated approval and that the long-term outcomes phase of the study should continue.”

On this news, the Company’s stock price fell $30.79 per share, or nearly 40%, to close at $46.70 per share on June 29, 2020.

On October 8, 2020, news outlets reported that the Company was “facing an investigation from the [FDA] over the potential risk of liver injury in patients taking Ocaliva, [Intercept’s] treatment for primary biliary cholangitis, a rare, chronic liver disease.”

On this news, the Company’s stock price fell $3.30 per share, or 8%, to close at $37.69 per share on October 8, 2020.

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 that: (1) Defendants downplayed the true scope and severity of safety concerns associated with Ocaliva’s use in treating PBC; (2) the foregoing increased the likelihood of an FDA investigation into Ocaliva’s development, thereby jeopardizing Ocaliva’s continued marketability and the sustainability of its sales; (3) any purported benefits associated with OCA’s efficacy in treating NASH were outweighed by the risks of its use; (4) as a result, the FDA was unlikely to approve the Company’s NDA for OCA in treating patients with liver fibrosis due to NASH; and (5) as a result of all the foregoing, the Company’s public statements were materially false and misleading at all relevant times.

If you purchased or otherwise acquired Intercept securities during the Class Period, you may move the Court no later than January 4, 2021 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you 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.

Law Offices of Howard G. Smith

Howard G. Smith, Esquire

215-638-4847

888-638-4847

[email protected]

www.howardsmithlaw.com

KEYWORDS: Pennsylvania United States North America

INDUSTRY KEYWORDS: Legal Professional Services

MEDIA:

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Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Mesoblast Limited (MESO)

LOS ANGELES, Nov. 13, 2020 (GLOBE NEWSWIRE) — Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming December 7, 2020 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Mesoblast Limited (“Mesoblast” or the “Company”) (NASDAQ: MESO) securities between April 16, 2019 and October 1, 2020, inclusive (the “Class Period”).

If you suffered a loss on your Mesoblast investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https://www.glancylaw.com/cases/mesoblast-limited/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [email protected] to learn more about your rights.

Mesoblast develops allogeneic cellular medicines using its proprietary mesenchymal lineage cell therapy platform. Its lead product candidate, RYONCIL (remestemcel-L), is an investigational therapy comprising mesenchymal stem cells derived from bone marrow. In February 2018, the Company announced that remestemcel-L met its primary endpoint in a Phase 3 trial to treat children with steroid refractory acute graft versus host disease (“aGVHD”).

In early 2020, Mesoblast completed its rolling submission of its Biologics License Application (“BLA”) with the FDA to secure marketing authorization to commercialize remestemcel-L for children with steroid refractory aGVHD.

On August 11, 2020, the FDA released briefing materials for its Oncologic Drugs Advisory Committee (“ODAC”) meeting to be held on August 13, 2020. Therein, the FDA stated that Mesoblast provided post hoc analyses of other studies “to further establish the appropriateness of 45% as the null Day-28 ORR” for its primary endpoint. The briefing materials stated that, due to design differences between these historical studies and Mesoblast’s submitted study, “it is unclear that these study results are relevant to the proposed indication.”

On this news, the Company’s share price fell $6.09, or approximately 35%, to close at $11.33 per share on August 11, 2020, on unusually heavy trading volume.

On October 1, 2020, Mesoblast disclosed that it had received a Complete Response Letter (“CRL”) from the FDA regarding its marketing application for remestemcel-L for treatment of SR-aGVHD in pediatric patients. According to the CRL, the FDA recommended that the Company “conduct at least one additional randomized, controlled study in adults and/or children to provide further evidence of the effectiveness of remestemcel-L for SR-aGVHD.” The CRL also “identified a need for further scientific rationale to demonstrate the relationship of potency measurements to the product’s biologic activity.”

On this news, the Company’s stock fell $6.56, or 35%, to close at $12.03 per share on October 2, 2020, on unusually heavy trading volume.

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 that: (1) comparative analyses between Mesoblast’s Phase 3 trial and three historical studies did not support the effectiveness of remestemcel-L for steroid refractory aGVHD due to design differences between the four studies; (2) as a result, the FDA was reasonably likely to require further clinical studies; (3) as a result, the commercialization of remestemcel-L in the U.S. was likely to be delayed; and (4) 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.

Follow us for updates on LinkedIn, Twitter, or Facebook.

If you purchased or otherwise acquired Mesoblast securities during the Class Period, you may move the Court no later than December 7, 2020 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.  

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

Contacts

Glancy Prongay & Murray LLP, Los Angeles
Charles H. Linehan, 310-201-9150 or 888-773-9224
1925 Century Park East, Suite 2100
Los Angeles, CA 90067
www.glancylaw.com  
[email protected]

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Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Precigen, Inc. f/k/a Intrexon Corporation (PGEN, XON)

LOS ANGELES, Nov. 13, 2020 (GLOBE NEWSWIRE) — Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming December 4, 2020 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Precigen, Inc. (“Precigen” or the “Company”) f/k/a Intrexon Corporation (“Intrexon”) (NASDAQ: PGEN, XON) securities between May 10, 2017 and September 25, 2020, inclusive (the “Class Period”).

If you suffered a loss on your Precigen investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https://www.glancylaw.com/cases/precigen-inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com or visit our website at www.glancylaw.com to learn more about your rights.

The Company develops technologies using synthetic biology, an evolving discipline that applies engineering principles to biological systems to enable design-based control of cellular function for a specific purpose. Its methane bioconversion platform (“MBP”) purports to convert natural gas into commercial end products, such as isobutanol for gasoline blending, 2,3 Butanediol (“2,3 BDO”) for conversion to synthetic rubber, and 1,4 Butanediol for polyester.

Between May and November 2017, the Company touted that its MBP achieved yields of 2,3 BDO at profitable levels using “current natural gas and product prices.” The Company then engaged in discussions with potential partners, including strategic and financial companies, to seize the purported $100 billion market opportunity.

However, on February 28, 2019, the Company disclosed “that there is substantial doubt about its ability to continue as a going concern” because it lacked sufficient funding for operations beyond 12 months.

On this news, the Company’s share price fell $2.91, or 36%, to close at $5.06 per share on March 1, 2019, on unusually heavy trading volume. The stock price continued to fall during the next trading session by $0.92, or 18%, to close at $4.14 per share on March 4, 2019, on unusually heavy trading volume.

Then, on August 8, 2019, after the market closed, the Company announced that it would contribute the MBP and all its associated technologies and facilities to a newly formed company called MBP Titan, LLC. Though the Company would begin with a supermajority equity stake, the Company expected “to be dilutive in this enterprise.”

On this news, the Company’s share price fell $0.67, or 8.8%, to close at $6.95 per share on August 9, 2019, on unusually heavy trading volume.

Then, on March 2, 2020, after the market closed, the Company disclosed that it had been under investigation by the SEC since October 2018 “concerning the Company’s disclosures regarding its methane bioconversion platform.”

On this news, the Company’s share price fell $0.67, or 17%, to close at $3.24 per share on March 3, 2020, on unusually heavy trading volume.

On August 10, 2020, after the market closed, the Company disclosed that it had “suspended MBP Titan’s operations” as it “assess[ed] potential next steps relating to this intellectual property and MBP Titan’s other long-lived assets.”

On this news, the Company’s share price fell $0.52, or 10%, to close at $4.60 per share on August 11, 2020, on unusually heavy trading volume.

On September 25, 2020, investors learned why the Company had not been able to capitalize the MBP, “the most valuable biotechnology ever created.” Specifically, the SEC issued a cease-and-desist order in connection with misleading statements the Company had issued in 2017: the yields from MBP had been achieved using pure methane as a feedstock, rather than natural gas as the Company had claimed. Because pure methane gas costs $650 per unit, whereas natural gas costs $3 per unit, the MBP was not producing results at commercially profitable rates.

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 used pure methane, rather than natural gas, as the feedstock to achieve the reported results from its methane bioconversion platform; (2) that yields from natural gas as a feedstock were substantially lower than yields using pure methane; (3) that, due to the substantial price difference between pure methane and natural gas, pure methane was not a commercially viable feedstock; (4) that, due to the high costs of pure methane, the Company could not sustain operations of the methane bioconversion platform without pursuing financial alternatives; (5) that, due to the reduced yields from natural gas and high costs of pure methane, the Company could not find a financial or strategic partner for its methane conversion platform; (6) that, as a result of the foregoing, the Company was forced to divest its methane bioconversion platform and associated intellectual property, allowing the Company to focus on its other strategic assets; (7) that the Company was under investigation by the SEC; and (8) that, as a result of the foregoing, Defendants’ public statements were materially false and misleading at all relevant times.

Follow us for updates on LinkedIn, Twitter, or Facebook. 

If you purchased or otherwise acquired the Company’s securities during the Class Period, you may move the Court no later than December 4, 2020 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.   

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

Contacts

Glancy Prongay & Murray LLP, Los Angeles
Charles H. Linehan, 310-201-9150 or 888-773-9224
1925 Century Park East, Suite 2100
Los Angeles, CA 90067
www.glancylaw.com  
[email protected]