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Arco Platform Limited Closes the Acquisition of Escola da Inteligência

Arco Platform Limited Closes the Acquisition of Escola da Inteligência

Arco welcomes to its portfolio of supplemental solutions a high-quality asset inserted in favorable market trends with exciting growth potential

SÃO PAULO–(BUSINESS WIRE)–Arco Platform Limited, or Arco (Nasdaq: ARCE),today announced that it has received the final antitrust approval from Brazil’s Administrative Council for Economic Defense (Conselho Administrativo de Defesa Econômica – CADE), with no conditions, for its previously announced acquisition of Escola de Inteligência Cursos Educacionais (“EI” or “Escola da Inteligência”). Following this final approval, Arco closed the acquisition today.

Escola da Inteligência is the largest social-emotional learning (SEL) solution in Brazil, serving more than 330 thousand students in 900 schools. EI was founded based on the Theory of Multifocal Intelligence, created by the psychiatrist, researcher and writer Augusto Cury. Mr. Cury has sold more than 30 million books in Brazil and has published his works in more than 70 countries.

“In our industry, brand reputation, quality and distribution are the winning factors, and they all take time to build. We are thrilled to welcome to our portfolio the leading solution in social-emotional learning, a company that has continuously pursued those factors. Together, Escola da Inteligência and Arco will offer high-quality cognitive and social-emotional educational solutions to more than 1.6 million students,” said Ari de Sá Neto, CEO and founder of Arco.

The deal unlocks large growth potential for Arco and Escola da Inteligência. First, it allows Arco to serve the exciting SEL vertical with the leading company in the sector. SEL offers favorable demand trends, further intensified by the COVID-19 pandemic, which have led to >30% organic growth for EI over the past years. Second, it significantly expands the cross-selling potential of both companies, as they share a similar profile of partner schools with a low overlap of existing clients. Finally, the accelerated rollout of technology features in EI’s solution and sales and marketing enhancements are expected to further drive customer satisfaction and demand for an already established and highly regarded solution.

About the Acquisition

The acquisition involves only the private sector business of Escola da Inteligência. The payment terms are:

  1. 60% of EI’s shares valued at R$288 million, with R$200 million to be paid at closing and the remaining R$88 million in 2Q21. This implies an EV of R$480 million, 12.5x 2019 EBITDA. This value is subject to adjustments according to EI’s 2021 ACV bookings.
  2. 40% of EI’s shares at 6.0x 2023 ACV (equivalent to 2.4x 2023 ACV), to be paid in 2Q23.

About Arco Platform Limited

Arco has empowered hundreds of thousands of students to rewrite their futures through education. Our data-driven learning, interactive proprietary content, and scalable curriculum allows students to personalize their learning experience with high-quality solutions while enabling schools to provide a broader approach to education.

About Escola da Inteligência

Developed by Augusto Cury, EI provides an educational program focused on the development of social-emotional skills within the K-12 school environment. The main goals of the program are the self-management of emotions, development of cognitive functions, improvement of school performance and learning, and development of skills to build healthy relationships and manage conflicts. It also encourages entrepreneurial posture and creativity, increasing the quality of life of teachers, parents and students.

Forward-Looking Statements

This press release contains forward-looking statements as pertains to Arco Platform Limited (the “Company”) within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, the Company’s expectations or predictions of future financial or business performance conditions. The achievement or success of the matters covered by statements herein involves substantial known and unknown risks, uncertainties and assumptions. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, the Company’s results could differ materially from the results expressed or implied by the statements we make. You should not rely upon forward-looking statements as predictions of future events. Forward looking statements are made on the basis of the Company’s current expectations and projections relating to its financial conditions, result of operations, plans, objectives, future performance and business, and these statements are not guarantees of future performance.

Statements which herein address activities, events, conditions or developments that the Company expects, believes or anticipates will or may occur in the future are forward -looking statements. You can generally identify forward-looking statements by the use of forward-looking terminology such as “anticipate,” “believe,” “can,” “continue,” “could,” “estimate,” “evaluate,” “expect,” “explore,” “forecast,” “guidance,” “intend,” “likely,” “may,” “might,” “outlook,” “plan,” “potential,” “predict,” “probable,” “project,” “seek,” “should,” “view,” or “will,” or the negative thereof or other variations thereon or comparable terminology. Moreover, all statements in this press release, whether forward looking or of historical fact, are based on the limited information available to the Company during the due diligence process of EI and its business operations (the “EI Business”) prior to the signing of the acquisition agreement discussed herein. This limited access to information may have impaired the Company’s ability to conduct a full and comprehensive assessment of the EI Business, thus leading to risks and uncertainties. Reasons for this uncertainty include, but are not limited to, the following: (i) the analysis was conducted on the basis of pro forma, unaudited and adjusted financial statements of the EI Business; (ii) the accounting parameters and criteria adopted by the EI Business are different from the ones adopted by the Company; (iii) the transfer of the EI Business to a new entity limits the Company’s ability to assess the proper transfer of all assets and rights to such new entity. In addition, the forward-looking statements regarding the EI Business include risks and uncertainties related to statements about competition for the combined business; risks relating to the continued use of the EI brand in schools not run by the Company; restrictions and/or limitations on the acquisition of the EI Business that may be imposed by antitrust authorities or other regulatory agencies; risks relating to the Company’s ability to attract, upsell and retain customers of the EI Business; and general market, political, economic, and business conditions in Brazil or abroad.

Forward-looking statements represent the Company management’s beliefs and assumptions only as of the date such statements are made, and the Company undertakes no obligation to update any forward-looking statements made in this presentation to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.

Further information on these and other factors that could affect the Company’s financial results is included in filings the Company makes with the Securities and Exchange Commission from time to time, including the section titled “Risk Factors” in the Company’s most recent Forms 20-F and 6-K. These documents are available on the SEC Filings section of the Investor Relations section of the Company’s website at: https://investor.arcoplatform.com/

Investor Relations Contact:

Arco Platform Limited

Carina Carreira

[email protected]

KEYWORDS: United States South America North America Brazil New York

INDUSTRY KEYWORDS: Primary/Secondary Preschool Education Technology Other Technology Continuing Training

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Outset Medical Announces Pricing of Secondary Public Offering

Outset Medical Announces Pricing of Secondary Public Offering

SAN JOSE, Calif.–(BUSINESS WIRE)–
Outset Medical, Inc. (Nasdaq: OM) (“Outset”), a medical technology company pioneering a first-of-its-kind technology to reduce the cost and complexity of dialysis, announced today the pricing of an underwritten public offering of 4,000,000 shares of its common stock by certain of its stockholders at a public offering price of $53.00 per share. In addition, such selling stockholders granted the underwriters a 30-day option to purchase up to an additional 600,000 shares of its common stock at the public offering price, less the underwriting discounts and commissions. The underwriting discounts and commissions will be borne by the selling stockholders. Outset is not selling any shares and will not receive any of the proceeds from the sale of the shares of common stock being offered by the selling stockholders. The offering is expected to close on December 7, 2020, subject to the satisfaction of customary closing conditions.

BofA Securities, Morgan Stanley and Goldman Sachs & Co. LLC are acting as joint lead book-running managers for the offering. SVB Leerink and Stifel are acting as co-managers for the offering.

A registration statement on Form S-1 relating to the shares being sold in this offering was filed with and declared effective by the U.S. Securities and Exchange Commission. The offering is being made only by means of a prospectus. When available, a copy of the prospectus may be obtained from BofA Securities, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attention: Prospectus Department, or by email at [email protected]; Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, NY 10014, Attention: Prospectus Department, or by email at [email protected]; and Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, via telephone: 1-866-471-2526, or via email: [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification of these securities under the securities laws of any such state or jurisdiction.

About Outset Medical, Inc.

Outset is a medical technology company pioneering a first-of-its-kind technology to reduce the cost and complexity of dialysis. The Tablo Hemodialysis System, FDA cleared for use from the hospital to the home, represents a significant technological advancement that transforms the dialysis experience for patients and operationally simplifies it for providers. Tablo serves as a single enterprise solution that can be utilized across the continuum of care, allowing dialysis to be delivered anytime, anywhere and by anyone. The integration of water purification and on-demand dialysate production enables Tablo to serve as a dialysis clinic on wheels, with 2-way wireless data transmission and a proprietary data analytics platform powering a new holistic approach to dialysis care. Tablo is a registered trademark of Outset Medical, Inc.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include statements regarding an offering of Outset Medical’s common stock. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. These risks and uncertainties, many of which are beyond our control, include risks described in the section entitled Risk Factors in the preliminary prospectus related to this offering filed with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof and should not be unduly relied upon. Outset Medical disclaims any obligation to update these forward-looking statements.

Investor Contact

Lynn Lewis or Brian Johnston

Gilmartin Group

[email protected]

KEYWORDS: United States North America California

INDUSTRY KEYWORDS: Medical Supplies Health Medical Devices Technology Other Technology Other Health Biotechnology

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Twist Bioscience Announces Pricing of a $300Million Upsized Public Offering of Common Stock

Twist Bioscience Announces Pricing of a $300Million Upsized Public Offering of Common Stock

SOUTH SAN FRANCISCO, Calif.–(BUSINESS WIRE)–
Twist Bioscience Corporation (NASDAQ: TWST), a company enabling customers to succeed through its offering of high-quality synthetic DNA using its silicon platform, today announced the pricing of an underwritten public offering of 2,802,272 shares of its common stock at a price to the public of $110.00 per share, which consists of 2,727,272 shares to be sold by Twist and 75,000 shares to be sold by certain selling stockholders. The gross proceeds of the offering to Twist before deducting the underwriting discount and commissions and estimated offering expenses, and assuming no exercise of the underwriters’ option to purchase additional shares from the Company, are expected to be approximately $300 million. Twist has granted the underwriters a 30-day option to purchase up to an additional 409,090 shares of common stock at the public offering price, less the underwriting discount and commissions. The offering is expected to close on or about December 7, 2020, subject to the satisfaction of customary closing conditions. Twist will not receive any proceeds from the sale of common stock by the selling stockholders.

Twist intends to use the net proceeds to be received by it in the offering, along with its existing cash, cash equivalents and short-term investments to increase its operational capacity, tooling, and scaling an additional manufacturing location to support its growth in NGS, synbio, DNA prep, its pharmaceutical biologics antibody platform and IgG products; increase its investment in automation and research and development, which includes investing in NGS, synbio, its pharmaceutical biologics antibody platform, and in DNA data storage; increase its investment in its commercial organization and its IT infrastructure; and for the remainder to fund working capital and general corporate purposes. Twist may also use a portion of the net proceeds to in-license, acquire or invest in complementary businesses or products.

J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC, Cowen and Company, LLC and Evercore Group L.L.C. are acting as joint book-running managers. Robert W. Baird & Co. Incorporated is acting as lead manager.

The securities described above are being offered by Twist and the selling stockholders pursuant to an automatic shelf registration statement on Form S-3 that was filed with the U.S. Securities and Exchange Commission (the “SEC”) on June 3, 2020. The offering will be made only by means of a written prospectus and a prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement and accompanying prospectus relating to the offering has been filed with the SEC and is available on the SEC’s website at http://www.sec.gov. When available, copies of the final prospectus supplement and the accompanying prospectus relating to the offering may also be obtained by request from J.P. Morgan Securities LLC c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204, or by email at [email protected], or from Goldman Sachs & Co. LLC, 200 West Street, New York, NY 10282, Attn: Prospectus Department, by telephone at (866) 471-2526, or by email at [email protected], or from Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attn: Prospectus Department, by email at [email protected] or by telephone at (833) 297-2926, or from Evercore Group L.L.C. c/o Equity Capital Markets, 55 East 52nd Street, 35thFloor, New York, NY 10055, or by telephone at (888) 474-0200, or by email at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any offer, solicitation, or sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Legal Notice Regarding Forward-Looking Statements

This press release contains forward-looking statements. All statements other than statements of historical facts contained herein, including without limitation statements regarding expected net proceeds to be received by Twist in the offering, expected use of proceeds by Twist, and the timing of the closing of the offering, are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties, and other important factors that may cause Twist Bioscience’s actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the risks and uncertainties set forth in Twist Bioscience’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on November 27, 2020, the preliminary prospectus supplement related to the public offering and subsequent filings with the SEC. Any of these risks and uncertainties could materially and adversely affect Twist Bioscience’s results of operations, which would, in turn, have a significant and adverse impact on Twist Bioscience’s stock price. Any forward-looking statements contained in this press release speak only as of the date hereof, and Twist Bioscience specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

Twist Media Contact:

Angela Bitting

925- 202-6211

[email protected]

Twist Investor Contact:

Argot Partners

Maeve Conneighton

212-600-1902

[email protected]

KEYWORDS: United States North America California

INDUSTRY KEYWORDS: Sports General Sports Biotechnology Technology Health General Health Pharmaceutical Other Science Research Nanotechnology Science

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Kedaara Capital Chooses SS&C for Fund Administration

SS&C enters India market with private capital fund accounting services

PR Newswire

WINDSOR, Conn., Dec. 2, 2020 /PRNewswire/ — SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that Kedaara Capital Advisors (Kedaara), the Mumbai-based private equity firm, has appointed SS&C GlobeOp as their fund administrator.

Kedaara will use SS&C GlobeOp’s private capital fund services to support its funds, including SS&C’s investor services technology and performance reporting tools. SS&C’s India team will support the business.

“We are excited to support Kedaara in their efforts to bring investment capital to Indian businesses,” said Bhagesh Malde, Global Head of Real Assets at SS&C GlobeOp. “India’s rapid expansion demands cutting-edge technology to support its growing investment management industry. SS&C has long focused on developing an expert team in India, servicing some of the world’s leading private capital firms. We are excited to focus them on the fast growing Indian investment managers that are competing on the global stage by providing them with capabilities honed in other markets.”

About Kedaara Capital

Kedaara Capital is an operationally oriented private equity firm pursuing control and minority investment opportunities in India. Kedaara Capital combines the strengths of a well-networked, highly experience local investment advisor with the experience of our strategic partner, Clayton, Dubilier & Rice, a pioneering global private equity firm whose investment model blends financial skills with operating expertise. We partner with entrepreneurs, management teams, and family-owned businesses and provide deep strategic and operational expertise, consultative approach, and global connectivity to build enduring value and competitiveness in such businesses.

About SS&C Technologies

SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 18,000 financial services and healthcare organizations, from the world’s largest companies to small and mid-market firms, rely on SS&C for expertise, scale and technology.

Additional information about SS&C (Nasdaq: SSNC) is available at www.ssctech.com.
Follow SS&C on Twitter, LinkedIn and Facebook.

SOURCE: SS&C

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/kedaara-capital-chooses-ssc-for-fund-administration-301185239.html

SOURCE SS&C

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Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Raytheon, Intercept Pharmaceuticals, Neovasc and Interface and Encourages Investors to Contact the Firm

NEW YORK, Dec. 02, 2020 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of Raytheon Technologies Corporation (NYSE: RTX), Intercept Pharmaceuticals, Inc. (NASDAQ: ICPT), Neovasc, Inc. (NASDAQ: NVCN), and Interface, Inc. (NASDAQ: TILE). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.

Raytheon Technologies Corporation (NYSE: RTX)

Class Period: February 10, 2016 to October 27, 2020

Lead Plaintiff Deadline: December 29, 2020

On October 27, 2020, after market hours, Raytheon filed its quarterly report on Form 10-Q with the SEC for the quarter ended September 30, 2020 (the “3Q20 Report”). The 3Q20 Report announced the DOJ Investigation, stating in pertinent part: “On October 8, 2020, the Company received a criminal subpoena from the DOJ seeking information and documents in connection with an investigation relating to financial accounting, internal controls over financial reporting, and cost reporting regarding Raytheon Company’s Missiles & Defense business since 2009.”

On this news, the price of Raytheon shares fell $4.19 per share, or 7%, to close at $52.34 per share on October 28, 2020, on unusually heavy trading volume, damaging investors.

The complaint, filed on October 30, 2020, alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Raytheon had inadequate disclosure controls and procedures and internal control over financial reporting; (2) Raytheon had faulty financial accounting; (3) as a result, Raytheon misreported its costs regarding Raytheon’s Missiles & Defense business since 2009; (4) as a result of the foregoing, Raytheon was at risk of increased scrutiny from the government; (5) as a result of the foregoing, Raytheon would face a criminal investigation by the U.S. Department of Justice (“DOJ”); and (6) as a result, defendants’ public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

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

Intercept Pharmaceuticals, Inc. (NASDAQ: ICPT)

Class Period: September 28, 2019 to October 7, 2020

Lead Plaintiff Deadline: January 4, 2021

Intercept’s lead product candidate is Ocaliva (obeticholic acid (“OCA”)), a farnesoid X receptor agonist used for the treatment of primary biliary cholangitis (“PBC”), a rare and chronic liver disease, in combination with ursodeoxycholic acid in adults. The Company is also developing OCA for various other indications, including nonalcoholic steatohepatitis (“NASH”).

On May 22, 2020, Intercept reported that the 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 12.19%, to close at $80.51 per share on May 22, 2020.

On June 29, 2020, Intercept issued a press release announcing that the FDA had issued a Complete Response Letter (“CRL”) rejecting the Company’s NDA for Ocaliva for the treatment of liver fibrosis due to NASH.

On this news, Intercept’s stock price fell $30.79 per share, or 39.73%, to close at $46.70 per share on June 29, 2020.

Then, on October 8, 2020, news outlets reported that Intercept 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, Intercept’s stock price fell $3.30 per share, or 8.05%, to close at $37.69 per share on October 8, 2020.

The complaint, filed on November 5, 2020, alleges that throughout the Class Period defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically defendants made false and/or misleading statements and/or failed to disclose that: (i) Defendants downplayed the true scope and severity of safety concerns associated with Ocaliva’s use in treating PBC; (ii) 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; (iii) any purported benefits associated with OCA’s efficacy in treating NASH were outweighed by the risks of its use; (iv) 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 (v) as a result of all the foregoing, the Company’s public statements were materially false and misleading at all relevant times.

For more information on the Intercept class action go to: https://bespc.com/cases/ICPT-2

Neovasc, Inc. (NASDAQ: NVCN)

Class Period: October 10, 2018 to October 27, 2020

Lead Plaintiff Deadline: January 4, 2021

Neovasc is a specialty medical device company that develops, manufactures and markets products for cardiovascular diseases, including the Tiara technology and the Reducer. The Company’s Reducer is a medical device that treats refractory angina by altering blood flow in the heart’s circulatory system.

On October 28, 2020, before the market opened, the Company announced that an FDA advisory panel voted overwhelmingly against the safety and effectiveness of the Reducer. The panel noted concerns with the Company’s clinical data, including “that the lack of blinding assessment made the primary endpoint difficult to interpret.” As a result, the panel reached a consensus “that additional premarket randomized clinical data was necessary.”

On this news, the Company’s share price fell $0.77, or 42%, to close at $1.06 per share on October 28, 2020.

The complaint, filed on November 5, 2020, alleges that throughout the Class Period defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, defendants failed to disclose to investors: (1) that the results of COSIRA, Neovasc’s clinical study for the Reducer, contained imbalances in missing information present in the control group versus the treatment group, including significant missing information for secondary endpoints but none for the primary endpoint; (2) that the imbalance in missing information indicated that control subjects were aware of their treatment assignment (not blinded) and less inclined to participate in additional data collection; (3) that blinding is critical when studying a placebo-responsive condition such as angina; (4) that the lack of blinding assessment made the primary endpoint difficult to interpret; (5) that, as a result of the foregoing, the FDA was reasonably likely to require additional premarket clinical data; (6) that, as a result, the Company’s PMA for Reducer was unlikely to be approved without additional clinical data; and (7) 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.

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

Interface, Inc. (NASDAQ: TILE)

Class Period: March 2, 2018 to September 28, 2020

Lead Plaintiff Deadline: January 11, 2021

On April 24, 2019, Defendants filed a current report on Form 8-K with the SEC, disclosing, inter alia, that Interface “received a letter in November 2017 from the [SEC] requesting that the Company voluntarily provide information and documents in connection with an investigation into the Company’s historical quarterly [EPS] calculations and rounding practices during the period 2014-2017”; that “[t]he Company subsequently received subpoenas from the SEC in February 2018, July 2018 and April 2019 requesting additional documents and information”; and that “[i]n the fourth quarter of 2018, the Company conducted at the SEC’s request an internal investigation into these and other related issues for seven quarters in 2015, 2016 and 2017.”

On this news, Interface’s stock price fell $1.43 per share, or 8.37%, to close at $15.66 per share on April 25, 2019.

Then, on September 28, 2020, the SEC announced the conclusion of its investigation into Interface’s historical quarterly EPS calculations and rounding practices. Interface agreed to pay a $5 million fine to resolve the matter and was ordered to cease and desist from violating the federal securities laws. In the SEC’s enforcement order issued that same day, the SEC also disclosed how, inter alia, “Interface employees caused Interface to produce documents in response to Commission investigative requests that were suggestive of contemporaneous support for journal entries that, in truth, did not exist at the time the entries were recorded,” and had modified certain documents after the SEC’s investigation began.

On this news, Interface’s stock price fell $0.20 per share, or 3.13%, over the following two trading sessions to close at $6.18 per share on September 29, 2020.

The complaint, filed on November 12, 2020, alleges that throughout the Class Period defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (i) Interface had inadequate disclosure controls and procedures and internal control over financial reporting; (ii) consequently, Interface, inter alia, reported artificially inflated income and earnings per share (“EPS”) in 2015 and 2016; (iii) Interface and certain of its employees were under investigation by the Securities and Exchange Commission (“SEC”) with respect to the foregoing issues since at least as early as November 2017, had impeded the SEC’s investigation, and downplayed the true scope of the Company’s wrongdoing and liability with respect to the SEC investigation; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.

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

About
Bragar
Eagel
& Squire, P.C.:

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information:

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



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BrainChip Confirms Completion of the Akida™ Production Design

BrainChip Confirms Completion of the Akida™ Production Design

Socionext to Provide Physical Design Services in Preparation for Production Mask Set and Wafer Fabrication at TSMC

ALISO VIEJO, Calif.–(BUSINESS WIRE)–BrainChip Holdings Ltd (ASX: BRN), a leading provider of ultra-low power high performance artificial intelligence technology, today provides the following update on the development of the Company’s Akida™ Neuromorphic System-on-Chip. (NSoC).

The Company confirms that the Register-Transfer Level (RTL) design has been completed and transferred to the Company’s manufacturing partner, Socionext America (SNA). SNA will complete the physical design of the device and all related engineering tasks required to transfer the full device files (tape-out) to Taiwan Semiconductor Manufacturing Company (TSMC) for mask creation and wafer fabrication.

The mask set will be utilized to manufacture production wafers as well as support qualification testing and parametric testing of the Akida device. Production wafers will be used to support potential customer requirements, including a full range of Quality and Reliability (QA) data as well as a detailed Data Sheet (DS) and User’s Manual.

BrainChip CEO Louis DiNardo commented, “The Akida device design will be transferred to TSMC for use in manufacturing production wafers in support of potential customer requirement in 2021 and beyond. This is a major milestone for the Company as we move to commercialize the Akida NSoC.” He continued, “Our chosen markets in Smart Home, Smart Transportation, Smart Medical and Smart City include some of the most discriminating customers in the electronics industry. Through our partnership with SNA and TSMC we have world-class resources and expect to have a robust Integrated Circuit (IC) that suits their requirements for both performance and reliability.”

Akida brings artificial intelligence to the edge in a way that existing technologies are not capable. The solution is high-performance, small, ultra-low power and enables a wide array of edge capabilities. The Akida NSoC and intellectual property, can be used in applications including Smart Home, Smart Health, Smart City and Smart Transportation. These applications include but are not limited to home automation and remote controls, industrial IoT, robotics, security cameras, sensors, unmanned aircraft, autonomous vehicles, medical instruments, object detection, sound detection, odor and taste detection, gesture control and cybersecurity.

About Brainchip Holdings Ltd (ASX: BRN)

BrainChip is a global technology company that is producing a groundbreaking neuromorphic processor that brings artificial intelligence to the edge in a way that is beyond the capabilities of other products. The chip is high performance, small, ultra-low power and enables a wide array of edge capabilities that include on-chip training, learning and inference. The event-based neural network processor is inspired by the spiking nature of the human brain and is implemented in an industry standard digital process. By mimicking brain processing BrainChip has pioneered a processing architecture, called Akida™, which is both scalable and flexible to address the requirements in edge devices. At the edge, sensor inputs are analyzed at the point of acquisition rather than through transmission via the cloud to a data center. Akida is designed to provide a complete ultra-low power and fast AI Edge Network for vision, audio, olfactory and smart transducer applications. The reduction in system latency provides faster response and a more power efficient system that can reduce the large carbon footprint of data centers.

Additional information is available at https://www.brainchipinc.com.

Follow BrainChip on Twitter: https://www.twitter.com/BrainChip_inc

Follow BrainChip on LinkedIn: https://www.linkedin.com/company/7792006

JPR Communications

Mark Smith, [email protected]

KEYWORDS: California Australia/Oceania Australia United States North America

INDUSTRY KEYWORDS: Semiconductor Engineering Technology Manufacturing Software Hardware

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Nexstar Media Group forces blackout of nearly 5.4 million DISH customers

– Nexstar initiates largest local station blackout in TV history, holds viewers hostage to create negotiation leverage

– Broadcaster giant demands more than $1 billion for local broadcast station fees

– Nexstar ignores extension offers and takes away local stations

PR Newswire

ENGLEWOOD, Colo., Dec. 2, 2020 /PRNewswire/ — Nexstar Media Group today forced the largest broadcast affiliate station blackout in TV history, rejecting DISH’s calls for a contract extension and taking away local programming from nearly 5.4 million DISH subscribers.

“We made a fair offer to keep Nexstar stations available to our customers, but Nexstar rejected it,” said Brian Neylon, Group President, DISH TV. “Earlier today, we offered to extend the current contract and hold subscribers harmless while negotiations continue — once at 11:53am MST and again at 3:11pm MST — but Nexstar never responded. We don’t understand why Nexstar insists on prioritizing greed above American viewers, many of whom rely on local programming for their news and entertainment, especially during this global pandemic.”

In recent years, Nexstar went on a $12 billion local broadcast station buying spree to become the largest and most powerful station owner in the country. Now that Nexstar is the biggest in the industry, it is strong-arming companies like DISH to pay outrageous rates and force unprecedented increases onto customers. In its latest move, the broadcaster has blacked out its stations from DISH customers to gain negotiation leverage in an effort to line its wallet with viewers’ hard-earned money — a tactic it used last year against DirecTV and AT&T U-verse.

“Nexstar is demanding over $1 billion in fees for stations that are available for free over the air,” added Neylon. “This shocking increase is the largest we have ever seen. While we work to keep subscribers’ TV bills as low as possible, Nexstar has no problem passing the buck on to American consumers. It has turned its back on its public interest obligation and is demanding significantly more money for the same programming.”

Nexstar is also forcing DISH to carry WGN America as part of this deal, a channel that has experienced declining viewership in recent years. Nexstar acquired this channel when it bought Tribune last year. Now, the broadcast owner is looking to DISH customers to pay back this investment. Nexstar is demanding a significant payment for this low-rated channel that airs syndicated reruns found on other DISH stations and features a news program that can be accessed for free online.

“We have been working tirelessly to come to a deal that is fair for DISH, Nexstar, and most importantly, our subscribers, but Nexstar is only interested in increasing its own wealth,” said Neylon. “We will not sit by and accept Nexstar’s unreasonable demands. We will continue fighting on behalf of our customers to come to a deal that is beneficial for all.”

Affected Stations

Nexstar Media Group’s action affects viewers of various ABC, CBS, FOX and NBC stations in 120 markets across 42 states and the District of Columbia, as well as viewers of WGN America in all markets. For a full list of affected stations, click here.

DISH customers can visit DISHPromise.com for the most updated information.


About DISH

DISH Network Corporation is a connectivity company. Since 1980, it has served as a disruptive force, driving innovation and value on behalf of consumers. Through its subsidiaries, the company provides television entertainment and award-winning technology to millions of customers with its satellite DISH TV and streaming SLING TV services. In 2020, the company became a nationwide U.S. wireless carrier through the acquisition of Boost Mobile. DISH continues to innovate in wireless, building the nation’s first cloud-native, Open RAN-based 5G broadband network. DISH Network Corporation (NASDAQ: DISH) is a Fortune 250 company.

 

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SOURCE DISH Network Corporation

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RM LAW Announces Class Action Lawsuit Against K12 Inc.

PR Newswire

BERWYN, Pa., Dec. 2, 2020 /PRNewswire/ — RM LAW, P.C. announces that a class action lawsuit has been filed on behalf of all persons or entities that purchased K12 Inc. (“K12” or the “Company”) (NYSE: LRN) securities during the period from April 27, 2020 through September 18, 2020 inclusive (the “Class Period”).

K12 shareholders may, no later than January 19, 2021 move the Court for appointment as a lead plaintiff of the Class. If you purchased shares of K12 and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (844) 291-9299 or to sign up online, click here.

According to the Complaint, the Company made false and misleading statements to the market. K12 failed to build and maintain the necessary technology, infrastructure, and knowledgebase necessary to support increased demand for distance learning caused by the COVID-19 pandemic. The Company lacked the appropriate cybersecurity measures necessary to prevent its systems from being disabled by bad actors. The Company failed to provide support and training to educators, parents, and students. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about K12, investors suffered damages.

If you are a member of the class, you may, no later than January 19, 2021 request that the Court appoint you as lead plaintiff of the class.  A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation.  In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Under certain circumstances, one or more class members may together serve as “lead plaintiff.”  Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff.  You may retain RM LAW, P.C. or other counsel of your choice, to serve as your counsel in this action.

For more information regarding this, please contact RM LAW, P.C.  (Richard A. Maniskas, Esquire) toll-free at (844) 291-9299 or by email at [email protected] or click here.   For more information about class action cases in general or to learn more about RM LAW, P.C. please visit our website by clicking here. 

RM LAW, P.C. is a national shareholder litigation firm.  RM LAW, P.C. is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.


CONTACT:         



RM LAW, P.C.

Richard A. Maniskas, Esquire

1055 Westlakes Dr., Ste. 300

Berwyn, PA 19312

484-324-6800

844-291-9299


[email protected]

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SOURCE RM LAW, P.C.

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TBWA\Asia Pacific Swoops Double Network Of The Year Titles At Campaign Asia Agency Of The Year Awards 2020

WINNING THE TOP REGIONAL ACCOLADE FOR BOTH CREATIVE AND DIGITAL

PR Newswire

SINGAPORE, Dec. 2, 2020 /PRNewswire/ — Wrapping the regional festival across six regions; Australia/New Zealand, Greater China, Japan and Korea, South Asia and Southeast Asia, Campaign Asia concluded their highly anticipated and well-respected Agency of the Year announcements on December 2, 2020.

In an extraordinary year underpinned by the current of uncertainty, TBWA finishes 2020 as Campaign Asia Pacific Creative and Digital Network of the Year.

TBWA\Asia Pacific won 31 Agency of the Year titles including regional recognitions across Southeast Asia and Greater China for Integrated, Creative, Digital and Production. The Collective’s leadership was also recognized with six People Achievement Awards across the region.

Said Sean Donovan, president TBWA\Asia: “I couldn’t be prouder of our leaders and our teams across the region. This recognition, coupled with the recent Campaign Brief Asia #1 Creative Network of the Year ranking, exemplifies their efforts over the past year. It really is a fitting acknowledgement of the results they have delivered and the value they have created for our client partners in this extraordinary year.

“And all of this success can be attributed in no small part to the humanity, compassion and empathy our leaders have showed throughout 2020. They are an outstanding team of people.”

Added Troy Ruhanen, CEO, TBWA\Worldwide: “This would be an outstanding accomplishment in any year, but to be named creative and digital network of the year in 2020 says everything about the exceptional people who make up our Asia collective. Up against considerable headwinds they continued to innovate in how they work, in pushing the boundaries of our creative product, and in helping our clients successfully navigate business and human challenges. Their success is a testament to the power of a creative collective, and of course to Disruption®.”

In addition to the Asia Pacific Network titles, TBWA’s impressive combined performance across Southeast Asia saw the Collective pick up two additional regional titles; Southeast Asia Creative Agency of the Year, and Southeast Asia Digital Agency of the Year, while TBWA\Singapore was named Southeast Asia Integrated Agency of the Year.

TBWA\Vietnam was named Vietnam’s Creative and Digital Agency of the Year – GOLD, while TCP-TBWA Indonesia, TBWA\Santiago Mangada Puno (Philippines) and TBWA\Singapore picked up Creative Agency of the Year in their respective markets with SILVER, and TBWA\Malaysia and TBWA\Thailand were named Creative Agency of the Year securing BRONZE.

TBWA\Thailand was named Thailand’s Digital Agency of the Year – SILVER, while TBWA\Singapore was named Singapore’s Digital Agency of the Year – BRONZE.

TBWA\Singapore was also named Best Culture Agency of the Year – SILVER and Best Talent Development Programme – SILVER.

In Japan and Korea, for the 10th time, TBWA\Hakuhodo was named Japan’s Creative Agency of the Year – GOLD. The agency secured two additional GOLD awards for Best Culture and Best Brand Partnership with Nissan, while chief operating officer, Chris Iki was named Agency Head of the 2nd time.

TBWA\Korea received two regional nods, awarded Japan\Korea Integrated Agency  of the Year – SILVER, and Consultancy of the Year – SILVER. In addition to these titles, TBWA\Korea was named Media Agency of the Year – SILVER, and Creative Agency of the Year – BRONZE.

In Greater China, TBWA\Greater China was named Integrated Agency of the Year – GOLD, Greater China Production Agency of the Year – GOLD, and Best Culture Agency of the Year – SILVER. While TBWA\Hong Kong was named Creative Agency of the Year – GOLD, Digital Agency of the Year – GOLD, and TBWA\China was named Digital Agency of the Year – BRONZE.

In South Asia, TBWA\Sri Lanka picked up SILVER for Creative Agency of the Year (no GOLD was awarded) while TBWA\India, operating under the world’s largest lockdown of well over 200 days was shortlisted in the Creative Agency of the Year category.

In Australia/New Zealand, TBWA\Eleven was named PR Agency of the Year – SILVER (no GOLD was awarded). This is the fourth PR Agency of the Year title Eleven Australia has won throughout 2020.

In total the TBWA won 31 Agency of the Year titles; Asia Pacific Creative Network of the Year, Asia Pacific Digital Network of the Year, Southeast Asia Creative Agency of the Year, Southeast Asia Digital Agency of the Year, plus 10 GOLD, 12 SILVER and 5 BRONZE Agency awards.

TBWA also excelled in People Achievement recognition securing six titles:

  • Agency Head of the Year – Chris Iki, TBWA\Hakuhodo
  • Account Person of the Year – Sayaka Ohno, TBWA\Hakuhodo
  • Strategic\Brand Planner of the Year – Patrycja Sojka, TBWA\Hakuhodo
  • Creative Person of the Year – Masaya Asai, TBWA\Hakuhodo
  • South Asia Young Achiever of the Year Award – Shayan Gershon,
  • Marketing Communications Team of the Year


About TBWA\Worldwide


TBWA is The Disruption® Company: the cultural engine for 21st century business. Named one of the World’s Most Innovative Companies by Fast Company, we create disruptive ideas that locate and involve brands in culture, giving them a larger share of the future. Our collective has 11,300 creative minds across 275 offices in 95 countries and also includes brands such as Auditoire, Digital Arts Network (DAN), eg+ worldwide, GMR, The Integer Group®, TBWA\Media Arts Lab, TBWA\WorldHealth and TRO. Global clients include adidas, Apple, Gatorade, Henkel, Hilton Hotels, McDonald’s, Nissan and Singapore Airlines. Follow us on Twitter, LinkedIn and Instagram, and like us on Facebook. TBWA is part of Omnicom Group (NYSE: OMC).


About Omnicom Group Inc.

Omnicom Group Inc. (NYSE: OMC) (www.omnicomgroup.com) is a leading global marketing and corporate communications company. Omnicom’s branded networks and numerous specialty firms provide advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations and other specialty communications services to over 5,000 clients in more than 100 countries.

 

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SOURCE TBWA\Worldwide

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WuXi AppTec Recognized by Frost & Sullivan with 2020 Global Customer Value Leadership Award

PR Newswire

SHANGHAI, Dec. 2, 2020 /PRNewswire/ — WuXi AppTec, a leading global provider of R&D and manufacturing enabling services in the pharmaceutical, biotechnology and medical device industries, today announced that it has received the 2020 Global Customer Value Leadership Award from Frost & Sullivan, a global business research and consulting firm. This marks the fourth consecutive year WuXi AppTec has been recognized by Frost & Sullivan for its leadership and innovative services.

The Frost & Sullivan Best Practices Awards honor companies demonstrating outstanding achievement and superior performance in the areas of leadership, technological innovation, customer service, and business development. WuXi AppTec was recognized by Frost & Sullivan for its unmatched breadth of expertise in facilitating early-stage innovation and clinical research with a global footprint, keen customer focus, and customized solutions. The company’s agility and distinguished strategic leadership allowed WuXi AppTec to ensure its business continuity and reliability to global partners while also prioritizing employee welfare in the midst of the COVID-19 pandemic.

“WuXi AppTec’s differentiated customer service approach emphasizes understanding the different needs of its customers and accordingly curating customized packages,” said Frost & Sullivan industry analyst Deepak Jayakumar. “Robust demand, an increase in capacity utilization, and efficient operations, along with its focus on providing best-in-class services, have helped WuXi AppTec garner significant business opportunities across different stages of the drug development process.”

“We thank Frost & Sullivan for recognizing the value of our global platform to customers,” said Dr. Ge Li, Chairman and CEO of WuXi AppTec. “By providing open-access capabilities and technology, we will continue to enable our global partners and bring the best medicines to patients in need.”

About WuXi AppTec

WuXi AppTec provides a broad portfolio of R&D and manufacturing services that enable companies in the pharmaceutical, biotech and medical device industries worldwide to advance discoveries and deliver groundbreaking treatments to patients. As an innovation-driven and customer-focused company, WuXi AppTec helps our partners improve the productivity of advancing healthcare products through cost-effective and efficient, socially responsible and sustainable solutions – and has received ESG (Environment, Social and Governance) A Ratings from Morgan Stanley Capital International since 2019. With industry-leading capabilities such as R&D and manufacturing for small molecule drugs, cell and gene therapies, and testing for medical devices, WuXi AppTec’s open-access platform is enabling more than 4,100 collaborators from over 30 countries to improve the health of those in need – and to realize our vision that “every drug can be made and every disease can be treated.” Please visit: www.wuxiapptec.com

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SOURCE WuXi AppTec