Yahoo Finance’s Myles Udland, Julie Hyman, Brian Sozzi, and Andy Serwer discuss the world of crypto.
Yahoo Finance’s Myles Udland, Julie Hyman, Brian Sozzi, and Andy Serwer discuss the world of crypto.
Here’s what to know about the increase of gas prices and why they may continue to rise.
We'll take one in every colour.
Emma-Jayne Magson was originally convicted of murder and jailed for a minimum of 17 years at Leicester Crown Court in November 2016.
AM Best will participate in the opening discussion at the 2021 Virtual Reinsurance & ESSL Symposium taking place online for two days beginning March 11, 2021.
OTTAWA — The Supreme Court of Canada says two men convicted of terrorism offences received a fair trial even though the judge made errors in assembling the jury. The top court explained its reasoning today for ruling last October there would be no new trial for Raed Jaser and Chiheb Esseghaier. The men were found guilty in 2015 of terror-related charges arising mainly from an alleged al-Qaida-inspired plot to derail a passenger train travelling between the United States and Canada. They appealed their convictions, with counsel for Jaser and a court-appointed lawyer for Esseghaier arguing the jury at the trial was improperly constituted. In August 2019, the Ontario Court of Appeal ordered a fresh trial for the men on grounds the jury was indeed chosen incorrectly. The Crown successfully argued in a Supreme Court hearing last fall the convictions should not be overturned on the basis of an error in the jury-selection process that did not deny the men fair trial rights. This report by The Canadian Press was first published March 5, 2021. The Canadian Press
TORONTO — Losses in the technology sector led Canada's main stock index lower in late-morning trading despite strength in energy stocks as the price of oil marched higher. The S&P/TSX composite index was down 92.43 points at 18,033.29. In New York, the Dow Jones industrial average was down 75.41 points at 30,848.73. The S&P 500 index was down 24.92 points at 3,743.55, while the Nasdaq composite was down 232.39 points at 12,491.08. The Canadian dollar traded for 78.85 cents US compared with 79.13 cents US on Thursday. The April crude oil contract was up US$1.73 at US$65.56 per barrel and the April natural gas contract was down five cents at US$2.70 per mmBTU. The April gold contract was down US$7.20 at US$1,693.50 an ounce and the May copper contract was up 10 cents at US$4.07 a pound. This report by The Canadian Press was first published March 5, 2021. Companies in this story: (TSX:GSPTSE, TSX:CADUSD=X) The Canadian Press
March 17, 2021, TrackVia hosts Forrester analyst John Bratincevic and PMI and Stearns Lending leaders in discussing the citizen developer movement
WAKEFIELD, Mass., March 05, 2021 (GLOBE NEWSWIRE) -- Innovation Pharmaceuticals (OTCQB:IPIX) (“the Company”), a clinical stage biopharmaceutical company, today reports that eight sites are now participating in the Company’s international Phase 2 clinical trial assessing Brilacidin as a novel therapeutic in hospitalized patients with COVID-19. The trial is now posted on clinicaltrials.gov (https://clinicaltrials.gov/ct2/show/NCT04784897), which shows seven sites as recruiting and enrolling patients. An eighth site is also now enrolling in addition, and the Company has informed clinicaltrials.gov of the change in status. Fifteen patients have already been dosed in the trial. More sites are coming online, which is expected to further accelerate enrollment and treatment. The trial doesn’t exclude any variants of SARS-CoV-2, the virus responsible for COVID-19. Virulent coronavirus strains have scoured different countries around the world recently, including highly contagious versions, such as P1 and B.1.1.7. Brazil this week reported that COVID -19 daily deaths reached a new high due to P1. According to Russian news agency Tass, nearly 1,500 coronavirus mutations have been discovered in Russia, a country where seven sites are currently enrolling patients in the Company’s COVID-19 clinical trial. The Company is interested to see what information, if any, might be gleaned from the trial regarding variants considering laboratory studies have indicated Brilacidin to have strong pan-coronavirus treatment potential, remaining unaffected by viral mutations. “We are pleased to see patient recruitment and enrollment in our Brilacidin for COVID-19 clinical trial ramping up,” said Leo Ehrlich, Chief Executive Officer at Innovation Pharmaceuticals. “COVID-19 is making a resurgence worldwide, with cases up 9 percent last week in Europe and cases no longer decreasing in the United States. Emerging variants are likely partially to blame for this rise. With its unique three-in-one therapeutic profile—antiviral, anti-inflammatory and antibacterial—we believe Brilacidin can play an important role in treating COVID-19. A broad-spectrum therapeutic that can be shown to inhibit coronaviruses would be a valuable countermeasure in fighting coronavirus disease and other viral outbreaks, now and in the future.” Brilacidin COVID-19 Clinical Trial The Phase 2 clinical trial is a randomized, double-blind, placebo-controlled, international, multi-center study with planned enrollment of ~120 subjects with moderate-to-severe COVID-19. Two treatment arms are enrolling patients—active and placebo, with ~60 patients per arm. The trial’s primary endpoint is time to sustained recovery through Day 29, using a clinical status ordinal scale based on that used in the series of National Institute of Allergy and Infectious Diseases (NIAID) Adaptive COVID-19 Treatment Trials (ACTTs). Additional endpoints include: in-hospital outcomes, all-cause mortality, measurement of disease biomarkers and inflammation-related biomarkers, changes to SARS-CoV-2 viral load, and other key measures. Brilacidin and COVID-19 Brilacidin, which has received FDA Fast Track designation for the potential treatment of COVID-19, is one of the few drugs targeting COVID-19 that has been tested in human trials (a total of 8) for other clinical indications, providing established safety and efficacy data on over 460 subjects, thereby potentially enabling it to rapidly help address the novel coronavirus crisis. Pre-clinical testing at independent laboratories supports Brilacidin’s antiviral ability to safely and potently inhibit SARS-CoV-2, and multiple strains of human coronaviruses (H-CoVs). In a human lung cell line against SARS-CoV-2, Brilacidin achieved a Selectivity Index of 426. A molecular screening study of 11,552 compounds also supports Brilacidin as a promising novel coronavirus treatment. Brilacidin antiviral research to date has been limited to laboratory-based experiments. Additional pre-clinical and clinical data support Brilacidin’s inhibition of IL-6, IL-1β, TNF-α and other pro-inflammatory cytokines and chemokines, which have been identified as central drivers in the worsening prognoses of hospitalized COVID-19 patients. Brilacidin’s robust antimicrobial properties might also help to fight secondary bacterial infections, which can co-present in up to 20 percent of COVID-19 patients. Collectively, these data support Brilacidin as a unique 3-in-1 combination—antiviral, immuno/anti-inflammatory, and antimicrobial—COVID-19 therapeutic candidate, with pan-coronavirus treatment potential. The Company has initiated a randomized, placebo-controlled Phase 2 clinical trial of Brilacidin for treatment of COVID-19 in moderate-to-severe hospitalized patients. A peer-reviewed article in Viruses supporting Brilacidin’s COVID-19 treatment potential can be accessed at the link below. Bakovic, A.; Risner, K.; Bhalla, N. (et al). Brilacidin Demonstrates Inhibition of SARS-CoV-2 in Cell Culture. Viruses 2021, 13, 271; https://doi.org/10.3390/v13020271https://www.mdpi.com/1999-4915/13/2/271 Global COVID-19 Cases and Mortality An online tool tracking COVID-19 cases and mortality, both in the U.S. and globally, can be found on the Company’s website (http://www.ipharminc.com), and at the following link:https://ipixcovid19tracker.com/ Alerts Sign-up for Innovation Pharmaceuticals email alerts is available at: http://www.ipharminc.com/email-alerts/ About Innovation Pharmaceuticals Innovation Pharmaceuticals Inc. (IPIX) is a clinical stage biopharmaceutical company developing a world-class portfolio of innovative therapies addressing multiple areas of unmet medical need, including inflammatory diseases, cancer, infectious diseases, and dermatologic diseases. Brilacidin, a versatile compound with broad therapeutic potential, is in a new chemical class called defensin-mimetics. A Phase 2 trial of Brilacidin as an oral rinse for the prevention of Severe Oral Mucositis (SOM) in patients with Head and Neck Cancer met its primary and secondary endpoints, including reducing the incidence of SOM. The Company plans to advance Brilacidin oral rinse into Phase 3 development, subject to available financial resources. Positive results were also observed in a Phase 2 Proof-of-Concept trial treating patients locally with Brilacidin for Ulcerative Proctitis/Ulcerative Proctosigmoiditis (UP/UPS). Brilacidin for UP/UPS was licensed to Alfasigma S.p.A. in July 2019, who have recently completed a Phase 1 study with their formulation. A Phase 2b trial of Brilacidin showed a single intravenous dose of the drug delivered comparable outcomes to a seven-day dosing regimen of the FDA-approved blockbuster daptomycin in treating Acute Bacterial Skin and Skin Structure Infection. Brilacidin, based on promising in vitro antiviral activity against SARS-CoV-2, is being evaluated in a Phase 2 clinical trial as a potential treatment for COVID-19. Kevetrin is a novel anti-cancer drug shown to modulate p53, often referred to as the “Guardian Angel Gene” due to its crucial role in controlling cell mutations and has successfully completed a Phase 2 trial in Ovarian Cancer. More information is available on the Company website at www.IPharmInc.com. Forward-Looking Statements: This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 including statements concerning future drug development plans, statements regarding the antiviral capabilities and therapeutic potential of Brilacidin and its impact on SARS-CoV-2 (COVID-19) and other coronaviruses, as well as government regulatory approvals to continue clinical testing. Other statements regarding future product developments, and markets, including with respect to specific indications, and any other statements which are other than statements of historical fact. These statements involve risks but not limited to risks related to conducting pre-clinical studies and clinical trials and seeking regulatory and licensing approvals for Brilacidin and Kevetrin in the US and other jurisdictions; that prior test results may not be replicated in future studies and trials, uncertainties and assumptions that could cause the Company’s actual results and experience to differ materially from anticipated results and expectations expressed in these forward-looking statements. The Company has in some cases identified forward-looking statements by using words such as “anticipates,” “believes,” “hopes,” “estimates,” “looks,” “expects,” “plans,” “intends,” “goal,” “potential,” “may,” “suggest,” and similar expressions. Among other factors that could cause actual results to differ materially from those expressed in forward-looking statements are the Company’s need for, and the availability of, substantial capital in the future to fund its operations and research and development; including the amount and timing of the sale of shares of common stock under securities purchase agreements; the fact that the Company’s licensee(s) may not successfully complete pre-clinical or clinical testing and the Company will not receive milestone payments, or the fact that the Company’s compounds may not successfully complete pre-clinical or clinical testing, or be granted regulatory approval to be sold and marketed in the United States or elsewhere. A more complete description of these risk factors is included in the Company’s filings with the Securities and Exchange Commission. You should not place undue reliance on any forward-looking statements. The Company undertakes no obligation to release publicly the results of any revisions to any such forward-looking statements that may be made to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events, except as required by applicable law or regulation. INVESTOR AND MEDIA CONTACTS Innovation Pharmaceuticals Inc. Leo Ehrlich email@example.com
Health Canada has authorized the Johnson & Johnson COVID-19 vaccine, produced by Janssen Inc., the first single-dose vaccine approved for use in Canada.
The one-tonne robot wiggles its wheels before rolling forwards across Jezero Crater's dusty terrain.
High-flying growth stocks like Shopify Inc. could continue to drop at the hands of the tech stock market crash, but you still shouldn't panic. The post Start of a Stock Market Crash? Probably Not. Here’s What Beginner Investors Should Do appeared first on The Motley Fool Canada.
LOS ANGELES, March 05, 2021 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming April 20, 2021 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Immunovant, Inc. f/k/a Health Sciences Acquisitions Corporation ("HSAC", "Immunovant", or the “Company”) (NASDAQ: IMVT) securities between October 2, 2019 and February 1, 2021, inclusive (the “Class Period”). If you suffered a loss on your Immunovant investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https://www.glancylaw.com/cases/immunovant-inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at firstname.lastname@example.org to learn more about your rights. On September 29, 2019, HSAC entered into an agreement with Immunovant Sciences Ltd. (“Legacy Immunovant”) to effect a merger between the two entities (the “Merger”). Immunovant is developing IMVT-1401, a novel fully human monoclonal antibody, which is Phase IIa clinical trials for the treatment of myasthenia gravis (“MG”) and thyroid eye disease (“TED”). The Company has also completed initiation of Phase II clinical trials of IMVT-1401 for the treatment of warm autoimmune hemolytic anemia (“WAIHA”). On February 2, 2021, the Company issued a press release “announc[ing] a voluntary pause of dosing in its ongoing clinical trials for IMVT-1401.” The Company also disclosed that it “has become aware of a physiological signal consisting of elevated total cholesterol and LDL [low-density lipoproteins] levels in IMVT-1401-treated patients” and “[o]ut of an abundance of caution, the Company has decided to voluntarily pause dosing in ongoing clinical studies in both TED and in [WAIHA], in order to inform patients, investigators, and regulators as well as to modify the monitoring program.” On this news, the Company’s stock price fell $18.22 per share, or 42.08%, to close at $25.08 per share on February 2, 2021, thereby injuring investors. The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) HSAC had performed inadequate due diligence into Legacy Immunovant prior to the Merger, and/or ignored or failed to disclose safety issues associated with IMVT-1401; (2) IMVT-1401 was less safe than the Company had led investors to believe, particularly with respect to treating TED and WAIHA; (3) the foregoing foreseeably diminished IMVT-1401's prospects for regulatory approval, commercial viability, and profitability; and (4) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times. Follow us for updates on LinkedIn, Twitter, or Facebook. If you purchased or otherwise acquired Immunovant securities during the Class Period, you may move the Court no later than April 20, 2021 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to email@example.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. Contacts Glancy Prongay & Murray LLP, Los Angeles Charles Linehan, 310-201-9150 or 888-773-9224 firstname.lastname@example.org www.glancylaw.com
The AIOps Market is expected to grow at a CAGR of 26. 2% during the forecast period 2021 to 2026. Large volumes of alerts, significant IT noise, and signals distributed across disparate tools hold back DevOps professionals.New York, March 05, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "AIOps Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" - https://www.reportlinker.com/p06030480/?utm_source=GNW Meanwhile, teams’ requirement to improve performance across IT infrastructure and more accurately solve and resolve incidents faster is growing.- Large volumes of alerts, significant IT noise, and signals distributed across disparate tools hold back DevOps professionals. Meanwhile, the requirement for teams to improve performance across IT infrastructure and more accurately solve and resolve incidents faster is growing.- With the increasing awareness of how AI can address these challenges and help run IT operations, enterprises are shifting focus towards the adoption of the AI-based solutions. A recent study from New Relic found that 89% of 750 global senior IT decision-makers surveyed believe that AI and machine learning are essential for how organizations run IT operations. Nearly 84% have mentioned AI, and machine learning will ultimately make their role more manageable. This positive outlook for AI is set to transform into widespread usage of AIOps over the next few years.- Further, as devices are gaining intelligence, systems have become more complicated with increasing data volume, thus increasing the adoption of AIOps. The increasing cloud adoption, across the world, is also fueling automation of these processes. Therefore, as more enterprises are migrating to the cloud, the need for AIOps platforms is also expected to increase.- According to LogicMonitor, 83% of enterprise workloads are expected to be in the cloud by 2020. The company also estimated that, by 2020, 41% of enterprise workloads would be running on public cloud platforms. An additional 20% are expected to be private-cloud-based, followed by another 22% deploying on hybrid cloud platforms. Also, on-premise workloads are anticipated to shrink to 27% by 2020, from 37% in 2017. The rising need for the orchestration and automation solutions for these cloud services is also forcing the cloud user to adopt AIOps platforms.- The IT Operations Management (ITOM) industry is already reacting to the emergence of SaaS ITOM. SaaS as a delivery model for IT helpdesks and infrastructure monitoring has proven to be useful. These solutions typically incorporate log management, website monitoring, server monitoring, and cloud management from acquired SaaS vendors. However, lack of awareness is one of the major concerns restraining market growth, during the forecast period.- In March 2020, Sumo Logic Inc. announced a number of free analytics solutions and resources to help support enterprises and the broader community during the coronavirus pandemic. It unveiled a bundle of SaaS apps designed to help IT and security teams ensure critical business applications are up, running and secure.Key Market TrendsBFSI is Expected to Hold Significant Share- Banking operations include many periodic and aperiodic activities and transactions performed by employees, customers, and external agencies. These activities are complex, which makes its monitoring essential. With AIOps delivering realtime information, automated problem solving amongst others, it is expected to boost the market growth over the forecast period. For instance, the AIOps platform from CA technologies, i.e., CA Digital Experience Insights, enables the financial firms in solving complex IT problems, including performance, capacity, and configuration issues.- Banks and other financial institutions are primarily focusing on ensuring the security of the data they generate, especially due to the numerous high-profile data breaches that took place over the past few years.- The implementation of reliable IT operation management solution is essential for banks, in order to provide the best possible service levels, primarily to support its internal workflows, as well as to deliver better customer service. Furthermore, they are focusing on maintaining optimal service efficiency in their day-to-day IT operations.- The rising implementation of regulatory standards and the increasing adoption of cloud-based IT solutions, along with increasing modes of online payments, are expected to drive the market.- Moreover, banks are increasingly deploying robust IT applications and services, in order to meet the rising needs of internal users and consumers, as there is a constant shift toward online digital platforms and mobile forms of financial services.- Furthermore, the integration of AI in operation services, across the financial institutions, enhanced the capabilities built into the service desk systems, thus providing the oversight and critical performance indicators, which are necessary for the higher management, in order to identify operational trends, before they adversely impact the existing products and processes.Europe to Witness Significant Growth- One of the primary reasons for the growth of the AIOps market in Europe is the region’s MSPs seeking to offer comprehensive services to enterprises undergoing large-scale digital transformation and requiring modern operations solutions.- According to the survey “The 2020 State of IT” done by Spiceworks on 1005 respondents (which included North American and European business technology buyers) in July 2019, 43% said that their company was currently using IT automation, with a further 15 % planning to use it within the following 12 months and 11% planning to use in 1- 2 years.- Moreover, according to The Artificial Intelligence Report published by Microsoft in 2019 (done on AI leaders in 277 countries across seven sectors and 15 countries in Europe), 89% of the respondents expect AI to generate business benefits by optimizing their companies’ operations in the future. This is followed by 74% that expect AI to be key to engaging customers.- The most widely reported AI adoption (47%) was in the IT/Technology function, followed by R&D with 36%, and customer service 24%. This signifies the growing importance given to AI in the IT operations field.- As per the estimates by Pitchbook and Crunchbase, as of January 2020, 20 European unicorns were active in finance, insurance, and real estate. In comparison, there were roughly eight unicorns specifically dedicated to health and pharmaceuticals, and IT & telecommunications, respectively. This indicates an increase in the future adoption of AIOps for these industries.Competitive LandscapeThe competitive rivalry amongst the players in the market is high owing to the presence of some key players such as IBM, HCL, Tech Mahindra, amongst others. The ability to continually innovate their products and services has allowed them to gain a competitive advantage over other players in the market. Through strategic partnerships, mergers & acquisitions, and research and development activities, these players can attain a greater market footprint.- May 2020: IBM Corporation partnered with PagerDuty to connect the human and machine data to provide a more powerful AIOps solution for the PagerDuty’s customers. By leveraging PagerDuty’s 350+ integrations and over 11 years of analytics on how customers respond to incidents, IBM Watson AIOps will be able to provide users with comprehensive insights on events that may impact IT to take action in real-time to resolve the issues.Reasons to Purchase this report:- The market estimate (ME) sheet in Excel format- 3 months of analyst supportRead the full report: https://www.reportlinker.com/p06030480/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________ CONTACT: Clare: email@example.com US: (339)-368-6001 Intl: +1 339-368-6001
COPENHAGEN, Denmark – March 5, 2021 - Bavarian Nordic A/S (OMX: BAVA, OTC: BVNRY) will announce its 2020 annual report on Friday, March 12, 2021. The management of Bavarian Nordic will host a conference call at 2:00 pm CET (8:00 am EST) on the same day to present the full-year results followed by a Q&A session. A live and replay version of the call and relevant slides will be available at http://bit.ly/3rkKNed. To join the Q&A session dial one of the following numbers and state the participant code 5589045: Denmark: +45 32 72 80 42, UK: +44 (0) 844 571 8892, USA: +1 631-510-7495. About Bavarian Nordic Bavarian Nordic is a fully integrated vaccines company focused on the development, manufacture and commercialization of life-saving vaccines. We are a global leader in smallpox vaccines and have been a long-term supplier to the U.S. Strategic National Stockpile of a non-replicating smallpox vaccine, which has been approved by the FDA under the trade name JYNNEOS®, also for the protection against monkeypox. The vaccine is approved as a smallpox vaccine in Europe under the trade name IMVANEX® and in Canada under the trade name IMVAMUNE®. Our commercial product portfolio furthermore contains the market-leading vaccine Rabipur®/RabAvert® against rabies and Encepur® against tick-borne encephalitis. Using our live virus vaccine platform technology, MVA-BN®, we have created a diverse portfolio of proprietary and partnered product candidates designed to save and improve lives by unlocking the power of the immune system, including an Ebola vaccine, MVABEA®, which is licensed to Janssen. For more information visit www.bavarian-nordic.com. Contacts Europe: Rolf Sass Sørensen, Vice President Investor Relations & Communications. Tel: +45 61 77 47 43 U.S.: Graham Morrell, Paddock Circle Advisors (US), Tel: +1 781 686 9600
Glancy Prongay & Murray LLP ("GPM") reminds investors of the upcoming May 3, 2021 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Renewable Energy Group, Inc. ("Renewable Energy" or the "Company") (NASDAQ: REGI) securities between May 3, 2018 and February 25, 2021, inclusive (the "Class Period").
Carmakers attempting to navigate their way through a shortage of microchips while mitigating the effects of a global pandemic might have a new problem to worry about. The severe winter storms that left thousands without power and water in Texas in February 2021 also shut down the refineries that provide the raw materials in seat foam. Getting to the root of the problem requires following a surprisingly long supply chain.
WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of Leidos Holdings, Inc. (NYSE: LDOS) between May 4, 2020 and February 23, 2021, inclusive (the "Class Period"). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 3, 2021.
Peter Migliorato has been elected to the board of directors of State Automobile Mutual Insurance Company.
LOS ANGELES, March 05, 2021 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming March 22, 2021 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased or otherwise acquired 9F Inc. (“9F” or the “Company”) (NASDAQ: JFU) securities: (a) pursuant and/or traceable to the registration statement and related prospectus in connection with the Company’s August 14, 2019 initial public offering (the “IPO” or “Offering”); and/or (b) between August 14, 2019 and September 29, 2020, inclusive (the “Class Period”). If you suffered a loss on your 9F investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https://www.glancylaw.com/cases/9f-inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at firstname.lastname@example.org to learn more about your rights. In August 2019, 9F completed its initial public offering (“IPO”), selling approximately 8.9 million American Depositary Shares at $9.50 a share. On September 27, 2019, 9F reported its second quarter 2019 financial results for the period that ended prior to the IPO. The Company stated that its net accounts receivable increased from RMB277 million as of March 31, 2019 to RMB 858 million as of June 30, 2019, a 210% sequential increase. On this news, 9F shares fell $0.59, or 5%, to close at $10.35 per ADS on September 27, 2019. On December 5, 2019, 9F reported its third quarter 2019 financial results for the quarter during which the IPO had been conducted. The Company stated that its net accounts receivables had increased more than ten-fold from RMB180 million as of December 31, 2018 to RMB1.9 billion as of September 30, 2019. On this news, 9F shares fell $0.50, or nearly 5%, over two consecutive trading sessions to close at $9.60 per ADS on December 6, 2019. On June 12, 2020, 9F revealed an ongoing dispute with Property and Casualty Company Limited (“PICC”) involving RMB2.2 billion in unpaid service fees. The Company stated that RMB1.4 billion in service fees that had previously been recorded as accounts receivable were now recognized as fully impaired. On June 17, 2020, 9F described the devastating consequences of the Company’s dispute with PICC, including that the two entities “are pursuing legal actions against each other” and that 9F sought damages of approximately RMB2.3 billion from PICC to cover the outstanding service fees and related late payment losses. Moreover, 9F had “suspended [its] cooperation with PICC on new loans under [its] direct lending program since December 2019,” causing total net revenues to decrease by 54.4% year-over-year. On this news, 9F shares fell $0.31 per ADS, or nearly 5%, to close at $6.00 per ADS on June 17, 2020. On June 24, 2020, the Company reported a valuation allowance for the accounts receivable from PICC of more than $1.4 billion. On this news, 9F shares fell $0.57, or 14%, to close at $4.05 per ADS on June 25, 2020. On September 29, 2020, 9F announced its unaudited financial results for the first half of 2020 ended June 30, 2020. The Company disclosed that its loan origination volume had fallen over 90%, the number of active borrowers utilizing their platform had decreased over 80% and the Company’s total net revenues had plummeted over 60% during the first half of 2020 as compared to the latter half of 2019. On this news, 9F shares fell $0.20, or 18%, to close at $0.91 per ADS on September 29, 2020, thereby damaging investors. Since the IPO, 9F ADSs have traded as low as $1.40 per ADS, an 85% decline from the IPO price. The complaint filed alleges that Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the purported value and benefits of the Company’s financial institution partners and its tri-party cooperation business model did not in fact exist and/or were materially overstated, given that 9F and PICC had been engaged in an ongoing contractual dispute regarding payment of service fees under the Cooperation Agreement; (2) the collectability of service fees owed to 9F by PICC under the Cooperation Agreement was in doubt and at serious risk of non-payment; (3) there was a significant risk that PICC would no longer provide credit insurance and guarantee protection to investors and institutional funding partners; and (4) as a result of the foregoing, the Company’s platform, business model, reputation and financial results had been materially impaired. Follow us for updates on LinkedIn, Twitter, or Facebook. If you purchased or otherwise acquired 9F securities pursuant/traceable to the IPO and/or during the Class Period, you may move the Court no later than March 22, 2021 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to email@example.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. Contacts Glancy Prongay & Murray LLP, Los Angeles Charles Linehan, 310-201-9150 or 888-773-9224 firstname.lastname@example.org www.glancylaw.com
Northern Trust announced today that Kelley Conway has joined the company as Head of Corporate and Digital Strategy.