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APELLIS DEADLINE ALERT: Bragar Eagel & Squire, P.C. Reminds Investors that a Class Action Lawsuit Has Been Filed Against Apellis Pharmaceuticals, Inc.
RTX DEADLINE ALERT: Bragar Eagel & Squire, P.C. Reminds Investors that a Class Action Lawsuit Has Been Filed Against RTX Corporation and Encourages In
LIVE NATION DEADLINE ALERT: Bragar Eagel & Squire, P.C. Reminds Investors that a Class Action Lawsuit Has Been Filed Against Live Nation Entertainment
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SOTERA ALERT: Bragar Eagel & Squire, P.C. is Investigating Sotera Health Co. on Behalf of Long-Term Stockholders and Encourages Investors to Contact t
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HAYWARD DEADLINE ALERT: Bragar Eagel & Squire, P.C. Reminds Investors that a Class Action Lawsuit Has Been Filed Against Hayward Holdings, Inc. and En
NEW YORK--(BUSINESS WIRE)--#A--Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, reminds investors that a class action lawsuit has been filed against Hayward Holdings, Inc. (“Hayward” or the “Company”) (NASDAQ: HAYW) in the United States District Court for the District of New Jersey on behalf of all persons and entities who purchased or otherwise acquired Hayward securities between March 2, 2022 and July 27, 2022, both dates inclusive (the “Class Period”). Investors have until October 2, 2023 to apply to the Court to be appointed as lead plaintiff in the lawsuit. Click here to participate in the action. On July 28, 2022, Hayward Holdings announced financial results for the second fiscal quarter of 2022, shocking analysts and investors by revealing that Hayward Holdings was expecting its channel partners to reduce their inventory on hand by approximately four to six weeks in the second half of 2022. As a result, Hayward Holdings reduced its 2022 guidance to reflect massive inventory reduction in the second half of the year. Notably, during an earnings call held that same day, defendant CEO Kevin Holleran admitted that the inventory bottleneck traced back to inventory decisions made “at the end of 2021” – i.e., before the Class Period. As a result, the price of Hayward Holdings common stock fell nearly 24%, damaging investors. As the Hayward Holdings class action lawsuit alleges, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Hayward Holdings and its management had engaged in a channel-stuffing scheme designed to artificially boost Hayward Holdings’ short-term sales and earnings; (ii) Hayward Holdings had flooded its channel partners with inventory that they did not want or need at a level that far outpaced then-existing consumer demand; (iii) Hayward Holdings’ channel partners were suffering from an inventory glut as a result of the channel-stuffing scheme that would require a massive de-stocking in the second half of 2022; (iv) Hayward Holdings’ channel-stuffing scheme had cannibalized future sales, materially impairing Hayward Holdings’ ability to sell to its customers; (v) the demand for pool equipment had slowed down, which, combined with flooding channel partners with more inventory, led to an inventory glut and the need for these channel partners to reduce inventory levels; and (vi) as a result of the above, Hayward Holdings’ projected 2022 financial results were not achievable and lacked a reasonable basis in fact. If you purchased or otherwise acquired Hayward shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you. About Bragar Eagel & Squire, P.C.: Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. 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. Contacts Bragar Eagel & Squire, P.C. Brandon Walker, Esq. Marion Passmore, Esq. (212) 355-4648 investigations@bespc.comwww.bespc.com
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KEYCORP DEADLINE ALERT: Bragar Eagel & Squire, P.C. Reminds Investors that a Class Action Lawsuit Has Been Filed Against KeyCorp and Encourages Invest
NEW YORK--(BUSINESS WIRE)--#A--Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, reminds investors that a class action lawsuit has been filed against KeyCorp (“KeyCorp” or the “Company”) (NYSE: KEY) in the United States District Court for the Northern District of Ohio on behalf of all persons and entities who purchased or otherwise acquired KeyCorp securities between February 27, 2020 and June 9, 2023, both dates inclusive (the “Class Period”). Investors have until October 3, 2023 to apply to the Court to be appointed as lead plaintiff in the lawsuit. Click here to participate in the action. Key operates as the holding company for KeyBank National Association, which provides various retail and commercial banking products and services in the U.S. One of the Company's principal sources of revenue is net interest income ("NII"), which is calculated as the difference between interest income received on earning assets (such as loans and securities) and loan-related fee income, and interest expense paid on deposits and borrowings. Key has repeatedly downplayed concerns regarding its liquidity while touting the effectiveness of its long-term liquidity strategy. For example, the Company has repeatedly assured investors that its strong core deposit base, in conjunction other funds, supports the Company's liquidity risk management strategy, and that the Company's liquid asset portfolio, inter alia, exceeds the estimated amount needed to manage through an adverse liquidity event. On March 6, 2023, Key filed its presentation slides for the 2023 RBC Capital Markets Financial Institutions Conference as an exhibit to a Securities and Exchange Commission filing, wherein the Company disclosed that it had downwardly revised its FY 2023 guidance for NII, stating that it expects FY 2023 NII to rise by 1% to 4% (assuming a cumulative beta in the mid- to high 30s) compared to FY 2022, representing a significant reduction from the Company's prior guidance that FY 2023 NII would rise 6% to 9% compared to FY 2022. The Company attributed this negatively revised guidance to "Deposit Beta and Funding Costs", explaining that "[m]arginal funding costs are increasing with rising market interest rates, and are expected to weigh on [NII.]" On this news, Key's stock price fell $0.60 per share, or 3.31%, to close at $17.55 per share on March 7, 2023. On March 13, 2023, following the collapse of Silvergate Bank on March 8, 2023, Silicon Valley Bank on March 10, 2023, and Signature Bank on March 12, 2023, investors grew increasingly concerned about Key's own liquidity. That same day, Odeon Capital Group LLC downgraded the Company's stock to hold from buy and BofA Global Research cut its price target on the Company's stock to $17 from $20. On this news, Key's stock price fell $6.59 per share, or 40.69%, to close at $11.38 per share on March 13, 2023. Then, on June 12, 2023, at the Morgan Stanley US Financials, Payments, & CRE Conference, Key's Chief Financial Officer, Defendant Clark H. I. Khayat, disclosed that the Company anticipated Q2 2023 NII to be softer than earlier expected, "based on funding mix and deposit cost pressures." At the same conference, Key's Chairman and Chief Executive Officer, Defendant Christopher M. Gorman, disclosed that clients are demanding higher interest rates on their deposits, and that banks of Key's size are likely facing higher capital and liquidity requirements by regulators. On this news, Key's stock price fell $0.46 per share, or 4.31%, to close at $10.22 per share on June 12, 2023. The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Key downplayed concerns with its liquidity while overstating the effectiveness of its long-term liquidity strategy; (ii) Key overstated its projected NII for the second quarter ("Q2") and full year ("FY") of 2023, as well as related positive NII drivers, while downplaying negative NII drivers; (iii) as a result, Key was likely to negatively revise its previously issued NII guidance; (iv) all the foregoing, once revealed, was likely to negatively impact Key's business, financial results, and reputation; and (v) as a result, Defendants' public statements were materially false and/or misleading at all relevant times. If you purchased or otherwise acquired KeyCorp shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you. About Bragar Eagel & Squire, P.C.: Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. 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. Contacts Bragar Eagel & Squire, P.C. Brandon Walker, Esq. Marion Passmore, Esq. (212) 355-4648 investigations@bespc.comwww.bespc.com
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VERIZON DEADLINE ALERT: Bragar Eagel & Squire, P.C. Reminds Investors that a Class Action Lawsuit Has Been Filed Against Verizon Communications, Inc.
NEW YORK--(BUSINESS WIRE)--#A--Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, reminds investors that a class action lawsuit has been filed against Verizon Communications, Inc. (“Verizon” or the “Company”) (NYSE: VZ) in the United States District Court for the Western District of Pennsylvania on behalf of all persons and entities who purchased or otherwise acquired Verizon securities between February 4, 2020 to July 26, 2023, both dates inclusive (the “Class Period”). Investors have until October 2, 2023 to apply to the Court to be appointed as lead plaintiff in the lawsuit. Click here to participate in the action. On July 9, 2023, the Wall Street Journal published an article reporting that more than 2,000 abandoned lead cables, previously used by Verizon and other telecommunication companies, were degrading and leaching into soil and groundwater, posing a significant public health risk. In a related article, the Wall Street Journal estimated that cleanup costs could run into the tens of billions of dollars. Following publication of these articles, analysts downgraded AT&T and other telecommunication company stocks. Following this news, Verizon stock dropped $2.55 per share, or 7.5%, to close at $31.46 on July 17, 2023. According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose, among other things, that: (1) Verizon owns cables around the country that are highly toxic due to being wrapped in lead, and which harm Company employees and non-employees alike; (2) it faces potentially significant litigation risk, regulatory risk, and reputational harm as a result of its ownership of these lead cables and the health risks stemming from their presence around the United States; (3) it was warned about the damages and risks presented by these cables but did not disclose that they posed a threat to employee safety, to everyday people, and communities around the country; and (4) as a result, Defendants’ statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages. If you purchased or otherwise acquired Verizon shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you. About Bragar Eagel & Squire, P.C.: Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. 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. Contacts Bragar Eagel & Squire, P.C. Brandon Walker, Esq. Marion Passmore, Esq. (212) 355-4648 investigations@bespc.comwww.bespc.com
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Datron World Communications, Inc. Announces Acquisition by Cyberlux Corporation
SAN DIEGO--(BUSINESS WIRE)--Datron World Communications, Inc., a U.S. based supplier of tactical communications products, is happy to announce its recent acquisition by Cyberlux Corporation (OTC: CYBL), a leading provider of innovative defense technology systems. This milestone marks the union of two industry pioneers, creating a powerhouse of integrated technologies to meet the complex needs of modern defense and communication landscapes. “We are delighted to become part of the Cyberlux family,” commented Art Barter, President & CEO of Datron World Communications, Inc. “We’ve deployed thousands of Datron built radios in over 80 countries, a testament to our unwavering commitment to advancing U.S. Security Assistance objectives and meeting host-country defense requirements. Each radio represents a vital connection that strengthens global security and cooperation. I have full confidence in the Cyberlux team to carry our exceptional record into the future.” The acquisition reinforces Cyberlux Corporation’s dedication to advancing mission critical solutions within the Unmanned Aircraft Systems (UAS), security, and tactical communications markets. By leveraging Datron’s 52-year legacy and proven track record of designing tactical communications products for the U.S. Partner Nation and FMS / FMF markets – including over 100,000 HF and VHF radios deployed during the company’s tenure as the primary supplier of tactical communications to the Afghan National Defense and Security Force (ANDSF) – the acquisition aims to enhance the global interconnectedness and overall effectiveness of tactical operations across the world. “This strategic acquisition is a game-changer for both Cyberlux and Datron,” said Mark Schmidt, CEO of Cyberlux Corporation. “We are eager to build upon Datron’s 52-year legacy and are steadfast in our commitment to driving growth as we unite these two exceptional teams. Together, we embark on a journey to build a stronger, more integrated company that sets new benchmarks in innovation and excellence.” Cyberlux Corporation’s track record of delivering state-of-the-art Unmanned Aircraft Systems aligns seamlessly with Datron’s reputation of providing robust, reliable, and mission-critical solutions to customers in austere, demanding environments. As both companies share a commitment to excellence, innovation, and customer satisfaction, this acquisition is poised to deliver unparalleled value to customers worldwide. By uniting the Cyberlux defense technology expertise with Datron’s tactical communications prowess, the stage is set for an exciting future of synergy, progress, and success. About Cyberlux Corporation Cyberlux Corporation (OTC Bulletin Board: CYBL) is “Harnessing the Future” by developing, acquiring, and deploying critical defense technology capabilities across the global Defense Industry. By driving operational growth through acquisitions and joint ventures, the Company continuously fuels its growth with ongoing technology developments, including fundamental organic growth from the Company’s four business units – Unmanned Aircraft Solutions, Advanced Communications Solutions, Advanced Lighting Solutions, and Special Activities & Solutions, targeting U.S. government agencies, Foreign Military Sales, and targeted commercial markets. For more information, please visit www.cyberlux.com. For investor information, please contact: ir_cybl@cyberlux.com About Datron World Communications, Inc. Datron World Communications, Inc. delivers communications products and systems worldwide. The company’s product offerings enable governments, security forces, and commercial users to establish and maintain mission-critical voice, data, and video connectivity. Known for their ease-of-use and reliability, Datron’s products and systems are currently deployed in over 80 countries worldwide. Datron World Communications, Inc. was established in 1971 and is headquartered in San Diego, California, USA. For more information visit: www.dtwc.com. SAFE HARBOR STATEMENT This press release contains forward-looking statements that can be identified by terminology such as “believes,” “expects,” “potential,” “plans,” “suggests,” “may,” “should,” “could,” “intends,” or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company’s control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made. Contacts For media inquiries, please contact:Lisa Courtemanche, Executive AdministratorCustomerService@dtwc.com, (760) 597-3727
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Geberit Unveils First Flagship Showroom in Singapore, Showcasing Swiss Excellence
SINGAPORE, Sept. 30, 2023 /PRNewswire/ -- Geberit, a European leader in the field of sanitary products, officially opened its first flagship showroom in Southeast Asia (SEA) at Marina Square, Singapore, on Friday, 29 September 2023, at an event graced by Ambassador Frank Grütter of the Embassy of Switzerland in Singapore, among other esteemed luminaries. Ribbon cutting ceremony with (Left to Right): Michael Allenspach, Managing Director of Geberit North & South East Asia, Ambassador Frank Grütter, Swiss Ambassador to Singapore and Brunei, and Mr Yeo Siew Hong, Managing Director of Econflo Systems. The Marina Square showroom spans 140 square metres, offering visitors the ultimate Geberit brand experience. It marks a significant milestone in Geberit's journey, being the first in SEA to showcase Geberit's full spectrum of revolutionary sanitary products. Geberit's decision to establish its showroom in a bustling shopping centre reflects its commitment to engaging retail customers and industry professionals. Geberit, a longstanding industry pioneer, has redefined the entire water path from cistern to water closet (WC) and drainage pipe over decades. The showroom's innovative concept revolves around presenting Geberit's dual product arms – the technology behind the wall and the products in front of the wall – creating a harmonious bathroom experience that seamlessly combines efficient water management with visually appealing bathroom décor. Visitors can witness live demonstrations of Geberit's cutting-edge technologies, including: The full range of behind-the-wall and in-front-of-the-wall cisterns Geberit ONE bathroom series, available exclusively at the Marina Square showroom Geberit Xeno2, Acanto, iCon and Smyle bathroom series range Geberit AquaClean shower toilet range Geberit VariForm washbasins range Geberit Sigma concealed cisterns and actuator plates range, including the Sigma70 actuator plate introduced in June 2023 The upcoming Geberit Omega concealed cistern for low-height applications Geberit SuperTube, a groundbreaking building drainage solution Geberit's product range caters to diverse customer segments, from discerning retail consumers to building and construction industry professionals. These products seamlessly blend elegant design with functionality, offering user-friendly installation and maintenance. Geberit's offerings include space-saving solutions and comfort-enhancing technologies that elevate the user experience. The showroom is thoughtfully divided into four zones: 1) An impressive entrance wall showcases Geberit's Swiss Excellence.2) The Inspiration Zone features a bathroom setup with Geberit's bathroom products, including sinks and mirrors.3) The Technology Zone offers a glimpse of Geberit's advanced technology with live demonstrations of its superior flushing systems.4) The Academy offers a dedicated space for staff and customers to discuss and find practical solutions. Singapore's reputation as an innovation hub made it the ideal location for Geberit's flagship showroom. In a strategic partnership, Econflo Systems, a family business turned corporate entity specialised in supplying large private residential and government projects in Singapore, joins forces with Geberit as its local partner. The partnership leverages Econflo's extensive expertise in the retail segment and Geberit's strong reputation to enhance awareness and desirability for Geberit's products. Interior designer Henry Yew from Index Design led the showroom's design, seamlessly incorporating Geberit's brand identity and values into a minimalist interior that perfectly embodies the concept of "Design Meets Function." Geberit's unwavering commitment to quality, reliability, sustainability, and innovation shines through every facet of this extraordinary showroom. For more information about Geberit and its products, please visit the official website at https://www.geberit.com.sg/. About Geberit The globally operating Geberit Group is a European leader in the field of sanitary products. Geberit operates with a strong local presence in most European countries, providing unique added value when it comes to sanitary technology and bathroom ceramics. The production network encompasses 26 production facilities, of which four are located overseas. The Group is headquartered in Rapperswil-Jona, Switzerland. With around 12,000 employees in approximately 50 countries, Geberit generated net sales of CHF 3.4 billion in 2022. The Geberit shares are listed on the SIX Swiss Exchange and have been included in the SMI (Swiss Market Index) since 2012. Geberit showroom grand opening with guests.
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AffiniPay Sells North American Legal Accounting Platform Soluno, Previously Owned by MyCase, to Actionstep
AUSTIN, Texas--(BUSINESS WIRE)--Actionstep, the global cloud practice management platform for midsize law firms, today announced the acquisition of Toronto-based legal accounting software company Soluno, from professional services payments company AffiniPay. The acquisition brings together two complementary, category-leading software products with exceptional legal practice management and legal accounting capabilities to best serve the needs of modern, midsize law firms across the U.S. and Canada. Early Stephens, Global CEO of Actionstep, commented: "This is an important milestone for Actionstep in the U.S. and Canada. As Actionstep continues to innovate and refine our technology for the legal midmarket, the addition of Soluno brings advanced legal accounting capabilities to our already comprehensive practice management offering." "I can't imagine a better home than Actionstep for Soluno's customers and team," added Alan Tuback, CEO of Soluno. "Actionstep's vision for modernizing midsize firms with innovative, adaptable practice management technology is completely aligned with Soluno's ethos. Our first priority is to ensure Soluno customers know they will continue to be well taken care of by our team now and in future." Dru Armstrong, CEO of AffiniPay, endorsed the acquisition: "AffiniPay remains focused on providing market leading financial services and practice management to the legal industry and is committed to continuing payments partnerships with mid-market and enterprise level partners." Armstrong continued, "It was super important for us to find a good home for Soluno. In partnership with Actionstep, Soluno will have an opportunity to have a bigger mid-market impact in the U.S. and Canada. We are excited to continue our strategic partnerships with both Actionstep and Soluno." Software Equity Group (SEG) served as the exclusive advisor to AffiniPay. About AffiniPay AffiniPay is the market leader in professional services software serving legal, accounting, architectural, engineering and construction firms. AffiniPay has been recognized as one of Inc. 5000’s fastest growing companies for 12 years in a row. Each of its brands leads the market it serves with solutions purpose-built by industry including MyCase and LawPay. AffiniPay’s solutions are trusted by more than 50,000 firms with more than 150 strategic partnerships and endorsements, including the American Bar Association and the American Institute of Certified Public Accountants. Visit affinipay.com to learn more. Contacts Keely Leonard kleonard@affinipay.com
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Metropolitan Issues Statement on Passing of Senator Dianne Feinstein
Launched process to rename Southern California’s largest reservoir in her honorLOS ANGELES--(BUSINESS WIRE)--Metropolitan Water District Chair Adán Ortega, Jr. and General Manager Adel Hagekhalil have issued the following statement on the death of Senator Dianne Feinstein: “On behalf of the Metropolitan Water District of Southern California, we are expressing our sorrow over the passing of U.S. Senator Dianne Feinstein. Symbolizing our esteem and deep appreciation of Senator Feinstein, we immediately convened our facilities naming committee which today voted to recommend the renaming of our Diamond Valley Lake in her honor as the Dianne Feinstein Lake at Diamond Valley. “Senator Feinstein was a true champion of water, conservation, and sustainability. She headlined the opening of Diamond Valley Lake and stood by Metropolitan and the people of Southern California through several rounds of negotiations on the Colorado River. Our general managers and board chairs over the decades cherished her for being honest and forthright as we began facing the realities of climate change also impacting our supplies from the Sacramento Bay-Delta. “Throughout her distinguished career, Senator Feinstein worked tirelessly to address the complex and critical water challenges facing our state. She understood the delicate balance between meeting the water needs of our growing population and protecting the fragile ecosystems of our region and agriculture. Her leadership was instrumental in advancing legislation that aimed to secure a reliable water supply for California while promoting responsible stewardship of our natural resources. And her vision for a sustainable water future inspired us all to think long term and prioritize conservation efforts each and every day. “Our thoughts and condolences go out to Senator Feinstein's family, friends, and colleagues. We will forever be grateful for her leadership, dedication, and passion for California's water and environmental issues. Senator Feinstein's legacy will continue to guide us as we work to protect and preserve our state's most precious resource.” Contacts Rebecca Kimitch, (213) 217-6450; (202) 821-5253, mobile; rkimitch@mwdh2o.comMaritza Fairfield, (213) 217-6853; (909) 816-7722, mobile; mfairfield@mwdh2o.com
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Dontzin Nagy & Fleissig Announces Settlement for Disruptive CEO Alex Davis and Kenneth Rickel
LOS ANGELES--(BUSINESS WIRE)--Alex Davis and Ken Rickel jointly announce the settlement of their litigation regarding Davis’ Disruptive business. Rickel said “I am deeply proud of the success my stepson Alex has achieved for himself, his family and his loyal investors. His leadership, hard work and unique insights regarding cutting edge technology has the potential to change all of our lives.” Davis stated: “I am pleased to have come to a resolution and I am ready to put this conflict with Ken behind us. Under my leadership and vision, Disruptive has evolved and expanded with a proven track record and significant growth for our investors. I am confident about the investments currently in our portfolio, and excited for our future plans supporting innovative companies and executives who are disrupting the world.” Rickel acknowledges the extremely hurtful nature and media attention of this litigation and regrets it. Rickel added, “I am really proud of Alex, and all that he has accomplished. I deeply regret the hurtful nature of this litigation and am extremely sorry for the way things were handled and most certainly for the things that were said about my stepson. The numerous stories that have been sensationalized by the media are untrue and do not accurately represent the true person and business leader that he is. We are ready to put this behind us and I look forward to working on repairing our family.” The settlement resolves all issues. Mr. Davis is represented by Matthew S. Dontzin and David A. Fleissig of Dontzin Nagy & Fleissig. Dontzin Nagy & Fleissig is an elite team of trial lawyers based in New York with a 25-year history of delivering successful results in high-stakes disputes. Contacts Peter Pochna, Rubenstein, 212-843-8007, ppochna@rubenstein.com
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PCT CLASS ACTION NOTICE: The Law Offices of Frank R. Cruz Files Securities Fraud Lawsuit Against PureCycle Technologies, Inc.
LOS ANGELES--(BUSINESS WIRE)--$STOCKS--The Law Offices of Frank R. Cruz announces that it has filed a class action lawsuit in the United States District Court for the Southern District of New York, captioned Southgate v. PureCycle Technologies, Inc., et al., Case No. 23-cv-08605, on behalf of persons and entities that purchased or otherwise acquired PureCycle Technologies, Inc. (“PureCycle” or the “Company”) (NASDAQ: PCT) securities between August 8, 2023 and September 13, 2023, inclusive (the “Class Period”). Plaintiff pursues claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”). Investors are hereby notified that they have until 60 days from this notice to move the Court to serve as lead plaintiff in this action. If you are a shareholder who suffered a loss, click here to participate. On September 13, 2023, after the market closed, PureCycle disclosed that its Ironton Facility experienced a full plant power outage on August 7, 2023, which required the Ironton Facility to halt operations. The Company further disclosed that it replaced a seal that purportedly failed as a result of the power outage, and initiated facility restart procedures on September 11, 2023. On this news, PureCycle’s stock price fell $1.395, or 18.4%, to close at $6.18 per share on September 14, 2023, 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: (1) that the Ironton Facility experienced a full plant power outage on August 7, 2023; (2) that there was a risk of additional failures resulting from the August 7, 2023 power outage; and (3) 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 Twitter: twitter.com/FRC_LAW. If you purchased PureCycle securities during the Class Period, you may move the Court no later than 60 days from this notice 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 purchased PureCycle securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.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 The Law Offices of Frank R. Cruz, Los Angeles Frank R. Cruz, 310-914-5007 fcruz@frankcruzlaw.comwww.frankcruzlaw.com
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Sarepta Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Sarepta Therapeutics, Inc. (NASDAQ:SRPT), the leader in precision genetic medicine for rare diseases, granted equity awards on September 29, 2023 that were previously approved by the Compensation Committee of its Board of Directors under Sarepta’s 2014 Employment Commencement Incentive Plan, as a material inducement to employment to 24 individuals hired by Sarepta in September 2023. The equity awards were approved in accordance with Nasdaq Listing Rule 5635(c)(4). The employees received, in the aggregate, options to purchase 16,575 shares of Sarepta's common stock, and in the aggregate 8,575 restricted stock units (“RSUs”). The options have an exercise price of $121.22 per share, which is equal to the closing price of Sarepta's common stock on September 29, 2023 (the “Grant Date”). One-fourth of the shares underlying each employee’s option will vest on the one-year anniversary of the Grant Date and thereafter 1/48th of the shares underlying each employee’s option will vest monthly, such that the shares underlying the option granted to each employee will be fully vested on the fourth anniversary of the Grant Date, in each case, subject to each such employee’s continued employment with Sarepta on such vesting dates. One-fourth of the RSUs will vest yearly on each anniversary of the Grant Date, such that the RSUs granted to each employee will be fully vested on the fourth anniversary of the Grant Date, in each case, subject to each such employee’s continued employment with Sarepta on such vesting date. About Sarepta Therapeutics Sarepta is on an urgent mission: engineer precision genetic medicine for rare diseases that devastate lives and cut futures short. We hold leadership positions in Duchenne muscular dystrophy (DMD) and limb-girdle muscular dystrophies (LGMDs), and we currently have more than 40 programs in various stages of development. Our vast pipeline is driven by our multi-platform Precision Genetic Medicine Engine in gene therapy, RNA and gene editing. For more information, please visit www.sarepta.com or follow us on Twitter, LinkedIn, Instagram and Facebook. Internet Posting of Information We routinely post information that may be important to investors in the 'For Investors' section of our website at www.sarepta.com. We encourage investors and potential investors to consult our website regularly for important information about us. Source: Sarepta Therapeutics, Inc. Contacts Investor Contact:Ian Estepan, 617-274-4052 iestepan@sarepta.com Media Contact:Tracy Sorrentino, 617-301-8566 tsorrentino@sarepta.com
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Investor Update: The Rosen Law Firm, P.A. Approved as Lead Counsel in Polished.com Inc. f/k/a Goedeker Inc. Class Action- POL, GOED
NEW YORK--(BUSINESS WIRE)--On September 8, 2023, the United States District Court for the Eastern District of New York approved The Rosen Law Firm, P.A. as lead counsel in Maschhoff v. Polished.com Inc. f/k/a 1834 Goedeker Inc., et al, 1:22-cv-06606 (E.D.N.Y.). On October 31, 2022, The Rosen Law Firm, P.A. filed a class action complaint against Polished.com Inc. f/k/a 1847 Goedeker Inc. (“Polished,” “Goedeker,” or the “Company”), Douglas T. Moore, Robert D. Barry, Albert Fouerti, Maria Johnson, Ellery W. Roberts, ThinkEquity, a division of Fordham Financial Management, Inc., Aegis Capital Corp., and Spartan Capital Securities, LLC (collectively, “Defendants”). This class action was brought on behalf of persons or entities who purchased or otherwise acquired publicly traded Polished securities: (1) pursuant and/or traceable to the registration statement and related prospectus (collectively, the “Registration Statement”) issued in connection with the Company’s 2020 initial public offering (the “IPO” or “Offering”); and/or (2) between July 27, 2020 and August 25, 2022, inclusive (the “Class Period”), seeking to recover compensable damages caused by Defendants’ violations of the Securities Exchange Act of 1933 and the Securities Exchange Act of 1934. In its September 8, 2023 order approving The Rosen Law Firm, P.A. as lead counsel and appointing Eden Alpha C.I., LP (“Eden Alpha”) lead plaintiff, the court cited a prior finding that “[t]he Rosen Law Firm, P.A. has substantial experience litigating securities fraud class actions”. If you bought Polished Securities in connection with the Company’s 2020 IPO and/or between July 27, 2020 and August 25, 2022 and have questions concerning your legal rights or your ability to participate in the Class action please contact Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or go to https://rosenlegal.com/case/polished-com-inc-f-k-a-1847-goedeker-inc/ for further information. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm’s attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors. Attorney Advertising. Prior results do not guarantee a similar outcome. Contacts Gonen Hakley, Esq. Jacob A. Goldberg, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 ghakley@rosenlegal.comjgoldberg@rosenlegal.compkim@rosenlegal.comcases@rosenlegal.comwww.rosenlegal.com
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Evergy reaches unanimous settlement with parties to Kansas rate case
Including this case, Evergy’s Kansas electric rates have only increased 1% since 2017KANSAS CITY, Mo.--(BUSINESS WIRE)--Evergy, Inc. (NASDAQ: EVRG) today announced that a unanimous agreement has been reached with parties to its Kansas rate case. The agreement was filed Friday with the Kansas Corporation Commission and must be approved by the state’s Commissioners, who are scheduled to issue an order in December. "This settlement is a very strong result for our customers," said David Campbell, Evergy president and chief executive. "As a result of this settlement, average retail rates in Kansas will have increased just one percent, cumulatively, since 2017. And Evergy will recover investments made to improve the electric grid and build a cleaner, more reliable energy future for our Kansas customers, all while improving our record of regional rate competitiveness." If the agreement is approved, Evergy Kansas Central will implement a net increase of $74.0 million and Evergy Kansas Metro will have a net decrease of $32.9 million. Costs for residential customers in Evergy Kansas Central, which includes Topeka, Pittsburg, Wichita, Hutchinson and other communities in the eastern third of the state, will increase about 4.05%, which translates to an increase of approximately $4.64 per month for the average residential customer. For Evergy Kansas Metro, which includes Lenexa, Overland Park and other communities near the Kansas City metro area, rates for residential customers will decrease about 4.75%, and the average residential customer will pay about $6.07 less per month. Significant Improvement of Regional Electric Rate Competitiveness Five years ago, regional utilities Westar Energy and KCP&L merged to form Evergy with the commitment to become a more efficient energy company, sharing those benefits with customers and continuing to provide reliable and affordable electrical service to the communities we serve in Kansas and Missouri. By combining companies, Evergy has saved more than $1 billion in operating costs in the first five years since the merger. These savings have allowed the company to offset steep inflationary pressures in the broader economy while at the same time undertaking significant investments to enhance electrical system reliability. Kansas customers have received significant benefits from the merger, as more than $232 million in merger credits were returned to customers. And despite record U.S. inflation of more than 21.5% since 2017, Evergy’s Kansas rates have remained well under inflation and steady over the same period. Including today’s rate settlement, Evergy’s Kansas rates have increased only 1% since 2017. That is in contrast with neighboring states, where during the same period regional rates increased 12.7%. Competitive Rates Bolster Economic Development in Kansas Economic development is vitally important to Evergy. Our business is local. If Kansas does not thrive and grow, Evergy does not thrive and grow. Evergy is focused on having competitive electric rates to enable economic investment and development in Kansas. This settlement advances regional rate competitiveness and will bolster the already strong economic development efforts over the last six years. Since 2019, Evergy has played a role in attracting 73 major economic development projects to our service territory in Kansas and Missouri. Of those projects, 47 of them (or approximately 64%) chose to invest in Kansas. This represents more than 12,000 jobs created, $7.3 billion in investment and major successes in attracting businesses in emerging market segments including new energy technologies, re-shored and advanced manufacturing, as well as major data centers. These projects are energy-intensive users where electric rates, cost competitiveness and reliability are primary considerations in choosing where to locate. Related: Evergy Files Kansas First Rate Review in Five Years to Recover Investments to Modernize the Power Grid, Increase Reliability and Enhance Customer Service About Evergy Evergy, Inc. (NASDAQ: EVRG), serves 1.7 million customers in Kansas and Missouri. Evergy’s mission is to empower a better future. Our focus remains on producing, transmitting and delivering reliable, affordable, and sustainable energy for the benefit of our stakeholders. Today, about half of Evergy’s power comes from carbon-free sources, creating more reliable energy with less impact to the environment. We value innovation and adaptability to give our customers better ways to manage their energy use, to create a safe, diverse and inclusive workplace for our employees, and to add value for our investors. Headquartered in Kansas City, our employees are active members of the communities we serve. For more information about Evergy, visit us at www.evergy.com. Forward Looking Statements Statements made in this document that are not based on historical facts are forward-looking, may involve risks and uncertainties, and are intended to be as of the date when made. Forward-looking statements include, but are not limited to, statements relating to Evergy's strategic plan, including, without limitation, those related to earnings per share, dividend, operating and maintenance expense and capital investment goals; the outcome of legislative efforts and regulatory and legal proceedings; future energy demand; future power prices; plans with respect to existing and potential future generation resources; the availability and cost of generation resources and energy storage; target emissions reductions; and other matters relating to expected financial performance or affecting future operations. Forward-looking statements are often accompanied by forward-looking words such as "anticipates," "believes," "expects," "estimates," "forecasts," "should," "could," "may," "seeks," "intends," "proposed," "projects," "planned," "target," "outlook," "remain confident," "goal," "will" or other words of similar meaning. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from the forward-looking information. In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the Evergy, Inc., Evergy Kansas Central, Inc. and Evergy Metro, Inc. (collectively the Evergy Companies) are providing a number of risks, uncertainties and other factors that could cause actual results to differ from the forward-looking information. These risks, uncertainties and other factors include, but are not limited to: economic and weather conditions and any impact on sales, prices and costs; changes in business strategy or operations; the impact of federal, state and local political, legislative, judicial and regulatory actions or developments, including deregulation, re-regulation, securitization and restructuring of the electric utility industry; decisions of regulators regarding, among other things, customer rates and the prudency of operational decisions such as capital expenditures and asset retirements; changes in applicable laws, regulations, rules, principles or practices, or the interpretations thereof, governing tax, accounting and environmental matters, including air and water quality and waste management and disposal; the impact of climate change, including increased frequency and severity of significant weather events and the extent to which counterparties are willing to do business with, finance the operations of or purchase energy from the Evergy Companies due to the fact that the Evergy Companies operate coal-fired generation; prices and availability of electricity and natural gas in wholesale markets; market perception of the energy industry and the Evergy Companies; the impact of future Coronavirus (COVID-19) variants on, among other things, sales, results of operations, financial condition, liquidity and cash flows, and also on operational issues, such as supply chain issues and the availability and ability of the Evergy Companies' employees and suppliers to perform the functions that are necessary to operate the Evergy Companies; changes in the energy trading markets in which the Evergy Companies participate, including retroactive repricing of transactions by regional transmission organizations (RTO) and independent system operators; financial market conditions and performance, current disruptions in the banking industry, including changes in interest rates and credit spreads and in availability and cost of capital and the effects on derivatives and hedges, nuclear decommissioning trust and pension plan assets and costs; impairments of long-lived assets or goodwill; credit ratings; inflation rates; effectiveness of risk management policies and procedures and the ability of counterparties to satisfy their contractual commitments; impact of physical and cybersecurity breaches, criminal activity, terrorist attacks, acts of war and other disruptions to the Evergy Companies' facilities or information technology infrastructure or the facilities and infrastructure of third-party service providers on which the Evergy Companies rely; impact of the Russian, Ukrainian conflict on the global energy market, ability to carry out marketing and sales plans; cost, availability, quality and timely provision of equipment, supplies, labor and fuel; ability to achieve generation goals and the occurrence and duration of planned and unplanned generation outages; delays and cost increases of generation, transmission, distribution or other projects; the Evergy Companies' ability to manage their transmission and distribution development plans and transmission joint ventures; the inherent risks associated with the ownership and operation of a nuclear facility, including environmental, health, safety, regulatory and financial risks; workforce risks, including those related to the Evergy Companies' ability to attract and retain qualified personnel, maintain satisfactory relationships with their labor unions and manage costs of, or changes in, wages, retirement, health care and other benefits; disruption, costs and uncertainties caused by or related to the actions of individuals or entities, such as activist shareholders or special interest groups, that seek to influence Evergy's strategic plan, financial results or operations; the impact of changing expectations and demands of the Evergy Companies' customers, regulators, investors and stakeholders, including heightened emphasis on environmental, social and governance concerns; the possibility that strategic initiatives, including mergers, acquisitions and divestitures, and long-term financial plans, may not create the value that they are expected to achieve in a timely manner or at all; difficulties in maintaining relationships with customers, employees, regulators or suppliers; and other risks and uncertainties. This list of factors is not all-inclusive because it is not possible to predict all factors. You should also carefully consider the information contained in the Evergy Companies' other filings with the Securities and Exchange Commission (SEC). Additional risks and uncertainties are discussed from time to time in current, quarterly and annual reports filed by the Evergy Companies with the SEC. Each forward-looking statement speaks only as of the date of the particular statement. The Evergy Companies undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. Contacts Investor Contact:Pete Flynn Director, Investor Relations Phone: 816-652-1060 Peter.Flynn@evergy.com Media Contact:Gina Penzig Director, Corporate Communications Phone: 785-508-2410 Gina.Penzig@evergy.comMedia line: 888-613-0003
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Can a roof’s material cool the outside air and lower energy demand? An Argonne study says it can.
LEMONT, Ill.--(BUSINESS WIRE)--With increasingly warming temperatures during the summer months, urban cities like Chicago need to arm decision makers and communities with information about strategies to help keep their residents cool. One strategy involves something all buildings already have: a roof. Certain roofing materials can help cool the surrounding outside air and decrease the need for air conditioning (AC). To help understand how climate is affecting urban communities, researchers at the U.S. Department of Energy’s Argonne National Laboratory examined three different types of roofing strategies and their impact on near-surface temperature and cooling energy demand through regional modeling in the Chicago metropolitan area. The team ran a regional climate model simulating the Chicago metro area and three types of roofs: cool (painted a heat-reflecting white), green (vegetation), and solar panels. They found that the three types of roofs reduced the near-surface temperature and AC consumption demand during daytime hours when air temperature is the highest. Because all the roofing strategies offer cooling effects, they reduce AC consumption. Cool roofs reduced AC energy consumption the most, followed by green roofs and solar panel roofs. Energy demand was shown to be reduced by 16.6%, 14.0%, and 7.6%, when cool roofs, green roofs, and solar panel roofs are deployed, respectively. Overall, the large-scale deployment of cool roofs showed the best potential for cooling effects and cooling energy saving. They cost less than the other two technologies and they do not require additional water. Stakeholders can use results of the study to inform sustainable development approaches, lower summertime cooling energy demand, and help minimize greenhouse gas emissions in the long term over the Chicago region. This work was conducted as part of the Community Research on Climate & Urban Science (CROCUS) Urban Integrated Field Laboratory. CROCUS is led by Argonne in partnership with academic and community organizations and civic and industry champions. Focused on the Chicago region, CROCUS studies urban climate change and its implications for environmental justice. The results of this baseline study will help CROCUS communities plan and test mitigation options and are a good starting point for what the researchers hope to achieve next, a city-scale and global-scale model for each of the roofing options. Contacts Christopher J. Kramer Head of Media Relations Argonne National Laboratory media@anl.govOffice: 630.252.5580
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Helix Announces Its 6.75% Convertible Senior Notes Due 2026 Will Become Convertible
HOUSTON--(BUSINESS WIRE)--Helix Energy Solutions Group, Inc. (NYSE: HLX) announced today that its 6.75% Convertible Senior Notes due 2026 (the “Notes”) will become convertible at the option of the holders from October 1, 2023 through December 31, 2023, as provided in the indenture governing the Notes (as supplemented, the “Indenture”). This press release is made pursuant to a provision in the Indenture that requires publication of this notice of convertibility. As of October 1, 2023 the Notes will become convertible and will remain convertible through December 31, 2023, as a result of the Closing Sale Price of Helix’s Common Stock being more than the Conversion Trigger Price in effect on each applicable Trading Day during at least 20 of the last 30 consecutive Trading Days of the calendar quarter ending September 30, 2023. To convert interests in a Global Note held through the Depository Trust Company (“DTC”), a holder must deliver to DTC the appropriate instruction form for conversion pursuant to DTC’s conversion program and pay the amount of interest and tax or duty, if required. To convert a Certificated Note, a holder must (a) complete and manually sign the Conversion Notice, as set forth in the Note, with appropriate signature guarantee, or facsimile of the Conversion Notice and deliver the completed Conversion Notice to The Bank of New York Mellon Trust Company, N.A., the trustee, as conversion agent (the “Conversion Agent”), (b) surrender the Note to the Conversion Agent, (c) furnish appropriate endorsements and transfer documents, if required by the Registrar or Conversion Agent, (d) pay the amount of interest, if required and (e) pay any tax or duty, if required. Upon surrendering Notes for conversion in accordance with the Indenture, a holder of the Notes will receive through the Conversion Agent either shares of Common Stock, cash or a combination of cash and shares of Common Stock, at Helix’s election. Holders of the Notes may obtain further information on how to convert their Notes by contacting the Conversion Agent at: The Bank of New York Mellon Trust Company, N.A., 2001 Bryan Street, 10th Floor, Dallas, TX 75201, Attention: Corporate Trust Reorg. or email inquiries to CT_Reorg_Unit_Inquiries@bnymellon.com. Capitalized terms used in this press release and not otherwise defined herein have the meanings given to them in the Indenture. About Helix Helix Energy Solutions Group, Inc., headquartered in Houston, Texas, is an international offshore energy services company that provides specialty services to the offshore energy industry, with a focus on well intervention, robotics and full field decommissioning operations. Our services are centered on a three-legged business model well positioned for a global energy transition by maximizing production of remaining oil and gas reserves, supporting renewable energy developments and decommissioning end-of-life oil and gas fields. For more information about Helix, please visit our website at ww.helixesg.com. Forward-Looking Statements This press release contains forward-looking statements that involve risks, uncertainties and assumptions that could cause our results to differ materially from those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, any statements regarding settlement of the Notes, conversion consideration and any impact on our financial and operating results and estimates. Forward-looking statements are subject to a number of known and unknown risks, uncertainties and other factors that could cause results to differ materially from those in the forward-looking statements, including but not limited to market conditions and other risks described from time to time in our reports filed with the Securities and Exchange Commission (“SEC”), including our most recently filed Annual Report on Form 10-K and in our other filings with the SEC, which are available free of charge on the SEC's website at www.sec.gov. We assume no obligation and do not intend to update these forward-looking statements, which speak only as of their respective dates, except as required by law. Contacts Erik Staffeldt, Executive Vice President and CFO Ph: 281-618-0465 email: estaffeldt@helixesg.com
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ProShares to Launch First ETF Targeting the Performance of Ether
Also to launch two groundbreaking ETFs that target the blended performance of bitcoin and etherBETHESDA, Md.--(BUSINESS WIRE)--ProShares, the global leader in crypto-linked ETFs, announces the launch on Monday, October 2, of the ProShares Ether Strategy ETF (EETH), the first ETF to target the performance of the cryptocurrency ether. At the same time, ProShares is also launching two ETFs that each look to provide performance that corresponds to a blended return of bitcoin and ether. EETH will be the first exchange-traded fund to seek results that correspond to the performance of ether. Ether, the native currency of the Ethereum platform, is the second largest cryptocurrency. “We have seen substantial demand from investors for access to the performance of cryptocurrencies through ETFs with the success of our bitcoin-linked ETF, BITO, which was launched almost two years ago and has become the largest crypto-linked ETF in the world,” said ProShares’ CEO Michael L. Sapir. “Now, with the launch of EETH, investors who want to target the performance of bitcoin or ether through an ETF, with all of the structure’s benefits, will not need to wait.” ProShares is also launching two ETFs that each offer investors exposure to the returns of both bitcoin and ether, the two cryptocurrencies that make up the dominant share of the cryptocurrency market. ProShares Bitcoin & Ether Equal Weight Strategy ETF (BETE) rebalances monthly to a 50/50 weighting between the two cryptocurrencies. ProShares Bitcoin & Ether Market Cap Weight Strategy ETF (BETH) rebalances monthly based on the market capitalization of bitcoin and ether. “We believe that BETE and BETH are groundbreaking in that they offer investors the opportunity to target the performance of the two leading cryptocurrencies in their brokerage accounts through one transaction with a single ticker,” said Sapir. “We are offering two weightings depending on an investor’s desired exposure.” All three of these ETFs will be available to investors through brokerage accounts with no need for a crypto custodian, exchange account or wallet. These ETFs will be listed on the New York Stock Exchange. "We think that many investors who are interested in cryptocurrencies but are concerned about custody risks, or who are challenged by the learning curve and complexities required to buy them directly, will be attracted to our crypto-linked ETFs,” Sapir added. EETH, BETE and BETH expand ProShares’ line-up of crypto-linked ETFs. In 2021, ProShares launched BITO, the first U.S. bitcoin-linked ETF which has gathered more than $2 billion of net inflows. In 2022, ProShares introduced BITI, the first U.S. short bitcoin-linked ETF. All five ETFs invest primarily in ether futures, bitcoin futures, or in both. These futures trade on a regulated exchange and historically have had a .99 correlation to their respective cryptocurrencies, according to ProShares’ research. The Funds do not invest directly in bitcoin or ether. About ProShares ProShares has been at the forefront of the ETF revolution since 2006. ProShares offers one of the largest lineups of ETFs and, along with its affiliates, now manages over $60 billion in assets. The company is a leader in strategies such as crypto, dividend growth, and geared (leveraged and inverse) ETF investing. ProShares continues to innovate with products that provide strategic and tactical opportunities for investors to manage risk and enhance returns. Investing involves risk, including the possible loss of principal. There is no guarantee any ProShares ETF will achieve its investment objective. These ETFs invest in bitcoin and ether futures contracts and do not invest directly in bitcoin or ether. Bitcoin and bitcoin futures, and ether and ether futures, are each a relatively new asset class, and the market for bitcoin and ether is subject to rapid changes and uncertainty. Bitcoin and bitcoin futures, and ether and ether futures, are subject to unique and substantial risks, such as rapid price swings and lack of liquidity, including as a result of changes in the supply of and demand for bitcoin and bitcoin futures contracts, and ether and ether futures contracts. Bitcoin and ether are largely unregulated and may be more susceptible to fraud and manipulation than more regulated investments. The value of an investment in these funds could decline significantly and without warning, including to zero. These ETFs are actively managed. The costs associated with rolling (buying and selling) futures and the impact of margin requirements, collateral requirements and other limits may have a negative impact on performance and prevent each Fund from achieving its objective. The price and performance of bitcoin futures and ether futures should be expected to differ from the current ‘‘spot’’ prices of bitcoin and ether (the prices of bitcoin and ether that can be purchased immediately). These differences could be significant. These ETFs are non-diversified and are subject to risks associated with the use of futures contracts, leverage, and market price variance, all of which can increase volatility and decrease performance. Shares of any ETF are generally bought and sold at market price (not NAV) and are not individually redeemed from the fund. Your brokerage commissions will reduce returns. Carefully consider the investment objectives, risks, charges, and expenses of ProShares before investing. This and other information can be found in their summary and full prospectuses. Read them carefully before investing. Obtain them from your financial professional or visit ProShares.com. ProShares are distributed by SEI Investments Distribution Co. ("SIDCO"), which is not affiliated with the funds' advisor or sponsor. SIDCO is located at 1 Freedom Valley Drive, Oaks, PA 19456. ©2023 Contacts Media ContactTucker Hewes, Hewes Communications, Inc., (212) 207-9451, tucker@hewescomm.com Investor ContactProShares, (866) 776-5125, ProShares.com
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AETH and BTOP, Two First-of-their-Kind Ethereum Futures ETFs From Bitwise, Intend to Launch October 2
"AETH and BTOP unlock access to the world's most interesting crypto asset with confidence, through regulated futures ETFs," said Bitwise CEO Hunter Horsley. “The two funds continue to expand Bitwise’s leading suite of crypto products, providing investors with a wide set of options for accessing opportunities in the space.”SAN FRANCISCO--(BUSINESS WIRE)--Bitwise Asset Management, the largest crypto index fund manager in America, announced today that two groundbreaking Ethereum-themed ETFs intend to begin trading on Monday, October 2: the Bitwise Ethereum Strategy ETF (ticker: AETH) and the Bitwise Bitcoin and Ether Equal Weight Strategy ETF (ticker: BTOP). With the launch, investors will for the first time gain exposure to CME Ether futures through the widely popular and regulated ETF format. “Ethereum now has billions in revenue, millions of users, and thousands of distinct apps and developers,” said Bitwise CEO Hunter Horsley. “As the leading operating system for crypto, Ethereum has spread like wildfire. With blue-chip brands like Nike, Starbucks, Adidas, Pepsi, PayPal, JPMorgan and others building and using applications on Ethereum, the momentum is only building.1 AETH and BTOP give investors the opportunity to participate in that growth with confidence through regulated ETFs.” Ethereum-based applications have seen considerable progress in recent years. Stablecoins—a payments alternative to card networks, the Automated Clearing House (ACH) and SWIFT—processed more than $1 trillion in transactions in Q1 2023 alone and have grown from virtual nonexistence in 2019 to a $125 billion market today.2 Similarly, total capital deposited across decentralized finance (DeFi) applications built on Ethereum has risen 60-fold since 2019, to $40 billion today.3 “The portfolio opportunity with Ethereum is broader than bitcoin,” said Bitwise CIO Matt Hougan. “Some investors consider Ethereum an alternative, while others see it as a traditional growth investment. It has elements of both. Like alternatives, Ethereum’s correlation to traditional equities over the last two years has been low, and trending lower. At the same time, its increased usage and cash flows suggest it has the characteristics of a growth asset.4 That combination makes Ethereum a distinct asset in portfolios.” Historical performance data reinforces Ethereum's distinct return pattern relative to stocks. Over the past five years, Ethereum has had the following median correlations with major equity indexes: Large cap equities (S&P 500 Index): 0.28. Blue-chip tech stocks (Nasdaq-100 Index): 0.33. Small-cap equities (Russell 2000 Index): 0.24.5 Hougan added: “We find that, to some investors, Ethereum makes more intuitive sense than bitcoin. Every time people use an Ethereum-based app they pay a fee in Ethereum, which ultimately accrues value to investors in a manner similar to stock buybacks. With cash flows and real-world applications, Ethereum is often easier to grasp and value for experienced investors.” A Leader in Crypto ETFs The launch of the Bitwise Ethereum Strategy ETF (ticker: AETH) and the Bitwise Bitcoin and Ether Equal Weight Strategy ETF (ticker: BTOP) adds to Bitwise’s broad suite of professionally managed vehicles. As of their launch, Bitwise’s lineup of more than 20 products includes five ETFs: Bitwise Crypto Industry Innovators ETF (ticker: BITQ) Bitwise Bitcoin Strategy Optimum Roll ETF (ticker: BITC) Bitwise Web3 ETF (ticker: BWEB) Bitwise Ethereum Strategy ETF (ticker: AETH) Bitwise Bitcoin and Ether Equal Weight Strategy ETF (ticker: BTOP). Bitwise’s other product offerings include the Bitwise 10 Crypto Index Fund (ticker: BITW), private placement funds, multi-strategy solutions, and separately managed accounts. More information, including crypto insights and educational resources, can be found at www.bitwiseinvestments.com. The Bitwise Ethereum Strategy ETF (ticker: AETH) The Bitwise Ethereum Strategy ETF (ticker: AETH) invests in regulated CME Ether futures focused on front-month contracts. The fund custodian is Bank of New York Mellon, and the expense ratio is 0.85%. More information can be found at www.AETHetf.com. The Bitwise Bitcoin and Ether Equal Weight Strategy ETF (ticker: BTOP) The Bitwise Bitcoin and Ether Equal Weight Strategy ETF (ticker: BTOP) provides equal exposure to regulated CME Bitcoin Futures and CME Ether Futures. The fund custodian is Bank of New York Mellon, and the expense ratio is 0.85%. More information can be found at www.BTOPetf.com. -------------- About Bitwise Asset Management Based in San Francisco, Bitwise is one of the largest and fastest-growing crypto asset managers, offering both index and active strategies across a wide array of investment vehicles. The firm is known for creating the world’s largest crypto index fund (OTCQX: BITW) and a broad suite of products spanning Bitcoin, Ethereum, DeFi, NFTs, the Metaverse, and crypto-focused equity indexes. Bitwise focuses on partnering with financial advisors and investment professionals to provide quality education and research. The team at Bitwise combines expertise in technology with decades of experience in traditional asset management and indexing, coming from firms including BlackRock, Blackstone, Meta, and Google, as well as the U.S. Attorney’s Office. Bitwise is backed by leading institutional investors and asset management executives, and has been profiled in Institutional Investor, CNBC, Barron’s, Bloomberg, and The Wall Street Journal. Risks and Important Information Carefully consider the investment objectives, risk factors, charges, and expenses of any Bitwise investment product before investing. This and additional information can be found in each Fund’s full or summary prospectus, which may be obtained for the Bitwise Ethereum Strategy ETF (AETH) by visiting https://www.aethetf.com/materials and for the Bitwise Bitcoin and Ether Equal Weight Strategy ETF (BTOP) by visiting https://www.btopetf.com/materials. Investors should read this information carefully before investing. Investing involves risk, including the possible loss of principal. There is no guarantee or assurance that the Fund’s methodology will result in the Fund achieving positive investment returns or outperforming other investment products. AETH invests in Ether Futures Contracts. BTOP invests in Bitcoin Futures Contracts and Ether Futures Contracts. AETH and BTOP do not invest directly in or hold either bitcoin or Ethereum. Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. Risk of Loss. Bitcoin, Ethereum, Bitcoin Futures Contracts and Ether Futures Contracts are relatively new investments. They are subject to unique and substantial risks, and historically, have been subject to significant price volatility. The value of an investment in the Fund could decline significantly and without warning, including to zero. Liquidity Risk. The market for Bitcoin Futures Contracts and Ether Futures Contracts is still developing and may be subject to periods of illiquidity. During such times it may be difficult or impossible to buy or sell a position at the desired price. Market disruptions or volatility can also make it difficult to find a counterparty willing to transact at a reasonable price and sufficient size. Ethereum Risk. Ethereum is a relatively new innovation and the market for Ethereum is subject to rapid price swings, changes and uncertainty. The further development of the Ethereum Network and the acceptance and use of Ethereum are subject to a variety of factors that are difficult to evaluate. Ethereum is not legal tender and generally operates without central authority (such as a bank) and is not backed by any government. The slowing, stopping or reversing of the development of the Ethereum Network or the acceptance of Ethereum may adversely affect the price of Ethereum. Borrowing Risk. The Fund may borrow for investment purposes using reverse repurchase agreements. The cost of borrowing may reduce the Fund’s return. Borrowing may cause a Fund to liquidate positions under adverse market conditions to satisfy its repayment obligations. Borrowing increases the risk of loss and may increase the volatility of the Fund. Frequent Trading Risk. The Fund regularly purchases and subsequently sells (i.e., “rolls”) individual futures contracts throughout the year so as to maintain a fully invested position. This frequent trading of contracts may increase the amount of commissions or markups to broker-dealers that the Fund pays when it buys and sells contracts, which may detract from the Fund’s performance. New Fund Risk. The Fund is a recently organized investment company with a limited operating history. As a result, prospective investors have a limited track record or history on which to base their investment decision. Nondiversification Risk. As a nondiversified fund, the Fund may hold a smaller number of portfolio securities than many other funds. The value of the Fund Shares may be more volatile than the values of shares of more diversified funds. Leverage Risk. The BTOP Fund seeks to achieve and maintain the exposure to the spot price of bitcoin and Ethereum, and the AETH Fund seeks to achieve and maintain the exposure to the spot price of Ethereum, by using leverage inherent in futures contracts. Therefore, each Fund is subject to leverage risk. As a result, these investments may magnify losses to a Fund, and even a small market movement may result in significant losses to a Fund. Leverage may also cause a Fund to be more volatile because it may exaggerate the effect of any increase or decrease in the value of the Fund’s portfolio securities. Bitwise Investment Manager, LLC serves as the investment advisor of the Funds. The Funds are distributed by Foreside Fund Services, which is not affiliated with Bitwise Investment Manager LLC, Bitwise, or any of its affiliates. BTOP Risks The price of Bitcoin and Ether Futures Contracts should be expected to differ from the current cash price of bitcoin or Ethereum, which is sometimes referred to as the “spot” price of bitcoin or Ethereum. Consequently, the performance of the Fund should be expected to perform differently from the spot price of bitcoin or Ethereum. These differences could be significant. Investors seeking direct exposure to the price of bitcoin or Ethereum should consider an investment other than the Fund. Cost of Futures Investment Risk. Bitcoin and Ether Futures Contracts have historically experienced extended periods of contango. Contango in the Bitcoin and Ether Futures Contracts market may have a significant adverse impact on the performance of the Fund and may cause Bitcoin and Ether Futures Contracts, and the Fund, to underperform the spot price of bitcoin or Ethereum. Bitcoin Risk. Bitcoin is a relatively new innovation and the market for bitcoin is subject to rapid price swings, changes and uncertainty. Trading prices of bitcoin and other digital assets have experienced significant volatility in recent periods and may continue to do so. AETH Risks The price of Ether Futures Contracts should be expected to differ from the current cash price of Ethereum, which is sometimes referred to as the “spot” price of Ethereum. Consequently, the performance of the Fund should be expected to perform differently from the spot price of Ethereum. These differences could be significant. Investors seeking direct exposure to the price of Ethereum should consider an investment other than the Fund. Cost of Futures Investment Risk. Ether Futures Contracts have historically experienced extended periods of contango. Contango in the Ether Futures Contracts market may have a significant adverse impact on the performance of the Fund and may cause Ether Futures Contracts and the Fund to underperform the spot price of Ethereum. Carefully consider the investment objectives, risk factors, charges, and expenses of the Bitwise Crypto Industry Innovators ETF (BITQ) before investing. This and additional information can be found in the Fund’s full or summary prospectus, which may be obtained by visiting www.BITQETF.com. Investors should read it carefully before investing. Exchange Traded Concepts, LLC serves as the investment advisor of the fund. The Fund is distributed by SEI Investments Distribution Co. (SIDCO), which is not affiliated with Exchange Traded Concepts, LLC, Bitwise, or any of its affiliates. Carefully consider the investment objectives, risk factors, charges, and expenses of the Bitwise Bitcoin Strategy Optimum Roll ETF (BITC) before investing. This and additional information can be found in the Fund’s full or summary prospectus, which may be obtained by visiting www.BITCetf.com/materials. Investors should read it carefully before investing. Bitwise Investment Manager, LLC serves as the investment advisor of the fund. The Fund is distributed by Foreside Fund Services, which is not affiliated with Bitwise Investment Manager LLC, Bitwise, or any of its affiliates. Carefully consider the investment objectives, risk factors, charges, and expenses of the Bitwise Web3 ETF (BWEB) before investing. This and additional information can be found in the Fund’s full or summary prospectus, which may be obtained by visiting www.BWEBetf.com/materials. Investors should read it carefully before investing. Bitwise Investment Manager, LLC serves as the investment advisor of the fund. The Fund is distributed by Foreside Fund Services, which is not affiliated with Bitwise Investment Manager LLC, Bitwise, or any of its affiliates. _______________ 1 AETH and BTOP do not invest in the companies mentioned here. 2 Source: Bitwise Q2 Crypto Market Quarterly Review. 3 Source: DeFi Llama. Data as of September 25, 2023. 4 Cash flow is the net cash and cash equivalents transferred in and out of a company. Cash received represents inflows, while money spent represents outflows. 5 Indicates the median of the 90-day rolling correlations between Ethereum and referenced equity indexes from September 27, 2018 to September 27, 2023. Correlation is a statistic that measures the degree to which two variables move in relation to each other. The S&P 500® Index (SPX) tracks the performance of 500 large-cap publicly traded companies in the U.S. The Nasdaq-100 Index (NDX) tracks 100 of the largest domestic and international non-financial companies, ranked by market cap, that are listed on the Nasdaq Stock Market. The Russell 2000 Index (RTY) is comprised of the smallest 2000 companies in the Russell 3000 Index, representing approximately 8% of the Russell 3000 total market capitalization. Contacts Frank Taylor/Ryan Dicovitsky Dukas Linden Public Relations Bitwise@DLPR.com
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Board Announces Removal of Merger Proposal from Annual Meeting Agenda
NEW YORK--(BUSINESS WIRE)--The Boards of Trustees of Nuveen Pennsylvania Quality Municipal Income Fund (NYSE: NQP) and Nuveen AMT-Free Municipal Credit Income Fund (NYSE: NVG) announce the removal of a previously approved merger proposal from the funds’ upcoming annual meeting agenda. The Boards of Trustees considered current market conditions and other relevant considerations for each fund in assessing whether to move forward with the proposed merger. It was determined that the proxy solicitation process and its associated costs would not be in the best interests of shareholders, therefore resulting in the removal of this proposal from the upcoming annual shareholder meeting agenda. As a result, each fund will continue to operate as a standalone fund pursuant to its current investment objectives and policies, and shareholders of each fund will remain shareholders of their current fund. Nuveen is a leading sponsor of closed-end funds (CEFs) with $53 billion of assets under management across 51 CEFs as of 30 Jun 2023. The funds offer exposure to a broad range of asset classes and are designed for income-focused investors seeking regular distributions. Nuveen has more than 35 years of experience managing CEFs. About Nuveen Nuveen, the investment manager of TIAA, offers a comprehensive range of outcome-focused investment solutions designed to secure the long-term financial goals of institutional and individual investors. Nuveen has $1.1 trillion in assets under management as of 30 Jun 2023 and operations in 27 countries. Its investment specialists offer deep expertise across a comprehensive range of traditional and alternative investments through a wide array of vehicles and customized strategies. For more information, please visit www.nuveen.com. Nuveen Securities, LLC, member FINRA and SIPC. The information contained on the Nuveen website is not a part of this press release. The annual and semi-annual reports and other regulatory filings of Nuveen closed-end funds with the Securities and Exchange Commission (“SEC”) are accessible on the SEC’s web site at www.sec.gov and on Nuveen’s web site at www.nuveen.com/cef and may discuss the abovementioned or other factors that affect Nuveen closed-end funds. IMPORTANT INFORMATION Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation. Shares of closed-end funds are subject to investment risks, including the possible loss of principal invested. Past performance is no guarantee of future results. Closed-end funds frequently trade at a discount to their net asset value. EPS-3139258CR-E0923W Contacts For more information, please visit Nuveen’s CEF homepage www.nuveen.com/closed-end-funds or contact: Financial Professionals: 800-752-8700 Investors: 800-257-8787 Media: media-inquiries@nuveen.com
