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Updated December 19, 2022 at 5:21 PM ET
The maker of the popular Fortnite video game will pay $520 million in penalties and refunds to settle complaints revolving around children's privacy and its payment methods that tricked players into making unintended purchases, U.S. federal regulators said Monday.
The Federal Trade Commission reached the settlements to resolve two cases against Epic Games Inc., which has parlayed Fortnite's success in the past five years to become a video game powerhouse.
The $520 million covered in the settlement consists of $245 million in customer refunds and a $275 million fine for collecting personal information on Fortnite players under the age of 13 without informing their parents or getting their consent. It's the biggest penalty ever imposed for breaking an FTC rule.
"Epic used privacy-invasive default settings and deceptive interfaces that tricked Fortnite users, including teenagers and children," FTC Chair Lina Khan said in a statement.
Even before the settlement was announced, Epic said in a statement it had already rolled out a series of changes "to ensure our ecosystem meets the expectations of our players and regulators, which we hope will be a helpful guide for others in our industry." The Cary, North Carolina, company also asserted that it no longer engages in the practices flagged by the FTC.
The $245 million in customer refunds will go to players who fell victim to so-called "dark patterns" and billing practices. Dark patterns are deceptive online techniques used to nudge users into doing things they didn't intend to do.
In this case, "Fortnite's counterintuitive, inconsistent, and confusing button configuration led players to incur unwanted charges based on the press of a single button," the FTC said.
Players could, for example, be charged while trying to wake the game from sleep mode, while the game was in a loading screen, or by pressing a nearby button when simply trying to preview an item, it said.
"These tactics led to hundreds of millions of dollars in unauthorized charges for consumers," the FTC said.
Epic said it agreed to the FTC settlement because it wants "to be at the forefront of consumer protection and provide the best experience for our players."
"No developer creates a game with the intention of ending up here," Epic said.
During the past two years, Epic also has been locked in a high-profile legal battle with Apple in an attempt to dismantle the barriers protecting the iPhone app store, which has emerged as one of the world's biggest e-commerce hubs during the past 14 years. After Epic introduced a different payment system within its Fortnite app in August 2020, Apple ousted the video from the app store, triggering a lawsuit that went to trial last year.
A federal judge ruled largely in Apple's favor, partly because she embraced the iPhone maker's contention that its exclusive control of the app store helped protect the security and privacy of consumers. The ruling is currently under appeal, with a decision expected at some point next year.
Copyright 2022 NPR. To see more, visit https://www.npr.org. | https://www.publicradiotulsa.org/npr-national-news/npr-national-news/2022-12-19/fortnite-maker-epic-games-will-pay-520-million-to-settle-privacy-and-deception-cases | 2022-12-19T23:09:20 | en | 0.970065 |
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Dallas man held for allegedly carving Nazi symbols into menorah
Published: Dec. 19, 2022 at 4:50 PM CST|Updated: 19 minutes ago
BEVERLY HILLS, Calif. (AP) - A man has been arrested after Nazi symbols were carved into a menorah in Southern California.
A Beverly Hills police statement says officers responded Sunday night to reports that a menorah on private property was being vandalized. Use of surveillance video led to the arrest of Eric Brian King, of Dallas, Texas, for investigation of felony vandalism and a hate crime.
It’s not immediately known if King has an attorney. Online Los Angeles County inmate information shows that the 47-year-old King is scheduled for a court appearance on Tuesday.
Copyright 2022 The Associated Press. All rights reserved. | https://www.ktre.com/2022/12/19/dallas-man-held-allegedly-carving-nazi-symbols-into-menorah/ | 2022-12-19T23:09:56 | en | 0.955854 |
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Ex-Baylor student charged in sexual assault of fellow student pleads guilty to reduced misdemeanor charge
WACO, Texas (KWTX) - A former Baylor University student charged with sexually assaulting another student at a party in 2018 pleaded guilty Monday to a reduced misdemeanor charge.
Judge Thomas West accepted the state’s plea bargain with Christopher Brian Darby, 24, and placed him on deferred probation for 18 months. Darby pleaded guilty to indecent assault, a Class A misdemeanor.
Darby was set to stand trial in Waco’s 19th State District Court on a second-degree felony sexual assault charge in September. However, West was forced to postpone the case after there were not enough eligible jurors left to complete a 12-member panel after the jury selection process.
Assistant District Attorney Will Hix said they negotiated the plea agreement with Darby based, in part, on the responses some potential jurors gave during the jury selection process in September. Some indicated they would hold the state to a higher burden of proof that beyond a reasonable doubt, Hix said.
“We busted the panel last time when we went through the jury selection process,” Hix said. “Enough people had concerns about issues they were going to be faced with during the trial that we were concerned about being able to get a panel seated. So we took that information to help us evaluate the case.”
Others on the 60-person panel of prospective jurors said they could not consider the entire range of punishment, including probation, in the case, while others told the court that their own life experiences, such as knowing a sexual assault victim or someone accused of sexual assault, would unjustly affect their jury service.
Darby’s attorney, Rob Swanton, said Darby, a college student now living in Colorado, is pleased to put the matter behind him.
“Mr. Darby fully intends to comply with all the terms and conditions of his probation and meet the expectations of the court,” Swanton said. “It was very important for him to be able to resolve this matter without a conviction on his record and without the requirements of sexual offender registration, and that is what we have done.”
In deferred probation cases, there is no final judgment of guilt if the defendant completes the terms and conditions of probation.
Darby, a former management information systems major from Highlands Ranch, Colo., last attended school at Baylor in the 2018 fall semester, Baylor officials said.
According to arrest records, the Baylor student reported she was sexually assaulted at a party near South Second Street and Gurley Avenue in Waco. The woman told police she met Darby at the party when he offered her an alcoholic drink. She told police she drank several alcoholic drinks at the party, and others at the party described her to police investigators as being intoxicated, an arrest affidavit states.
The affidavit says the woman stayed in Darby’s bedroom “cuddling” with him and woke up with blood on her and Darby’s hand. A sexual assault exam showed injuries consistent with sexual assault, according to the affidavit. Darby’s DNA was found on her body, the affidavit alleges.
Police obtained a copy of a text message in which Darby admitted trying to have sex with the woman but said he was too drunk, the affidavit states.
COPYRIGHT 2022 KWTX TV. ALL RIGHTS RESERVED. | https://www.ktre.com/2022/12/19/ex-baylor-student-charged-sexual-assault-fellow-student-pleads-guilty-reduced-misdemeanor-charge/ | 2022-12-19T23:10:06 | en | 0.978784 |
Texas man pleads guilty to romance scam of Missouri woman
Published: Dec. 19, 2022 at 4:46 PM CST|Updated: 23 minutes ago
ST. LOUIS (AP) - A Texas man has admitted that he helped steal $1.2 million from a Missouri woman in a romance scam.
Federal prosecutors said 37-year-old Rotimi Oladimeji admitted during a plea hearing Monday that in August 2019 he and others began communicating with a St. Louis woman who had created an online dating profile.
The woman believed she was communicating with a veterinarian and animal behaviorist who was a Belgian national living in St. Louis. For several months, the woman sent money to the scammers, after being told the Belgian man needed money to get out of the United Arab Emirates.
Two other men were accused of helping with the scam.
Copyright 2022 The Associated Press. All rights reserved. | https://www.ktre.com/2022/12/19/texas-man-pleads-guilty-romance-scam-missouri-woman/ | 2022-12-19T23:10:07 | en | 0.967512 |
WASHINGTON, Dec. 19, 2022 /PRNewswire/ -- Last week, the U.S. Department of Agriculture (USDA) mailed the 2022 Census of Agriculture paper questionnaires to all known agriculture producers across the nation and Puerto Rico. Last month, producers in the states received their survey codes with an invitation to respond online. Any producer who did not respond online now has the option to complete the ag census at agcounts.usda.gov or by mail. Producers who have already responded to the 2022 Census of Agriculture online do not need to respond again. The deadline for response is Feb. 6, 2023.
"We encourage producers to respond online," said USDA National Agricultural Statistics Service (NASS) Administrator Hubert Hamer. "We know producers are busy, which is why NASS worked to make responding to the ag census more convenient than ever before. The online questionnaire is secure and user friendly with several time saving features, such as skipping questions that do not pertain to the operation, pre-filling some information with previously reported data, and automatically calculating totals."
The Census of Agriculture remains the nation's only comprehensive and impartial agriculture data for every state, county, and U.S. territory. Farm operations of all sizes, urban and rural, which produced and sold, or normally would have sold, $1,000 or more of agricultural products in 2022, are included in the ag census. The data inform decisions about policy, programs, rural development, research, and more. The Census of Agriculture is the producer's voice in the future of American agriculture.
Responding to the Census of Agriculture is required by law under Title 7 USC 2204(g) Public Law 105-113. The same law requires NASS to keep all information confidential, to use the data only for statistical purposes, and only publish in aggregate form to prevent disclosing the identity of any individual producer or farm operation. NASS will release the results of the ag census in 2024.
To learn more about the Census of Agriculture, visit www.nass.usda.gov/agcensus.
NASS is the federal statistical agency responsible for producing official data about U.S. agriculture and is committed to providing timely, accurate, and useful statistics in service to U.S. agriculture.
USDA is an equal opportunity provider, employer, and lender.
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Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In Alico To Contact Him Directly To Discuss Their Options
NEW YORK, Dec. 19, 2022 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Alico, Inc. ("Alico" or the "Company") (NASDAQ: ALCO).
If you suffered losses exceeding $50,000 investing in Alico stock or options and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/ALCO.
There is no cost or obligation to you.
Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.
On December 13, 2022, Alico filed with the Securities and Exchange Commission ("SEC") its Annual Report on Form 10-K for the year ended September 30, 2022 (the "2022 10-K"). In the 2022 10-K, Alico "restate[d] the Company's previously issued audited consolidated balance sheet, audited consolidated statements of changes in equity and related disclosures as of September 30, 2021 included in the Company's Annual Report on Form 10-K for the year ended September 30, 2021 (the '2021 10-K') previously filed with the SEC and the Company's previously issued unaudited consolidated balance sheet, unaudited consolidated statements of changes in equity and related disclosures as of the end of each quarterly periods ended June 30, 2022, March 31, 2022, December 31, 2021, June 30, 2021, March 31, 2021 and December 31, 2020 included in the Company's respective Quarterly Report on Form 10-Q for each of the quarters then ended previously filed with the SEC (together with the 2021 10-K, the 'Financial Statements')." The Company also disclosed that "[o]n December 12, 2022, the audit committee (the 'Audit Committee') of the board of directors of the Company concluded that the Company's previously issued Financial Statements can no longer be relied upon due to an error identified during the completion of the 2022 10-K." Specifically, Alico stated that "[t]he error that led to the Audit Committee's conclusion relates to the calculation of the deferred tax liabilities for the fiscal years 2015 through 2019, which resulted in a cumulative reduction in the Company's deferred tax liability, and a corresponding cumulative increase in retained earnings, of approximately $2,512,000 on the Company's balance sheet as of September 30, 2022."
On this news, Alico's stock price fell $2.64 per share, or 9.53%, to close at $25.05 per share on December 14, 2022.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
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Architecture is Within Us: The Selected Works of Balkrishna Doshi
BOSTON, Dec. 19, 2022 /PRNewswire/ -- The Boston Architectural College (BAC) is pleased to announce an original international exhibit featuring works by Pritzker Prize winning Indian architect and BAC's honorary alumnus Balkrishna Doshi, Architecture is Within Us: The Selected Works of Balkrishna Doshi. Doshi is considered one of the leading architects of our time having worked with Le Corbusier and Louis Kahn. As a pioneer of culturally-rooted modernist architecture and urban design, Doshi has contributed to elevating architectural discourse throughout his life's career.
Considerable planning went into bringing this distinctive collection of Doshi's work to the BAC—led by the BAC's President, Dr. Mahesh Daas and Dean of Architecture, Karen Nelson—along with close collaboration with architect Khushnu Panthaki Hoof, curator of the exhibition, who notes, "For Doshi, humanism and empathy have been the guiding principles that inform his approach to architecture. This exhibition of selected projects further explores and underlines his search for intangibles that celebrate the architecture within." The exhibition has been generously underwritten by the Commonwealth of Massachusetts.
This original exhibit commissioned by the BAC reveals Doshi's emerging sense of architecture as a platform for living with dignity and joy and evolution. Doshi's illustrious work spans over 60 years at multiple scales. His projects exemplify the crucial role architecture plays in connecting society and promoting wellbeing, a sense of identity, and communal spirit. This exhibit, along with complementary programming spearheaded by the BAC, will bring to the fore the need for social, economic, gender, and racial diversity in architecture and allied fields. Doshi's work and this exhibit opens up opportunities for divergent discourses and ideas.
"We are honored to present an original exhibit of this magnitude, ambition, and cultural impact to the BAC and the greater community," said Dr. Mahesh Daas, president. "As the BAC's 2021 honorary doctorate recipient, commencement speaker, and inaugural guest on BAC Channel, Doshi has cultivated deep roots within our global community. He has graciously offered his precious time—even in the midst of the global pandemic—connecting across thousands of miles to offer us precious insights into design education, theory, rituals, space, and architecture. Daas continues, "This exhibit offers people an opportunity to experience a sense of Doshi's immeasurable impact as guests move through different moments in his life. Offering all who attend to come away with a sense of appreciation for his view of architecture as it relates to varying cultures, the natural world, our life stories, and our human experience."
Architecture is Within Us: The Selected Works of Balkrishna Doshi opens January 11, 2023, and runs through May 9, 2023, in the McCormick Gallery located at 320 Newbury Street in Boston.
Founded in 1889, The Boston Architectural College (BAC) is an internationally recognized institution with a diverse student and alumni population representing more than 54 countries. Providing excellence in practice-integrated design education, the BAC was Ranked #1 for Best Graduate School in Architecture for Earning Potential and #4 for Best Architecture School Offering Bachelor's Degrees in the U.S. in 2020 by GradReports. The BAC offers bachelor and graduate degrees in architecture, interior architecture, landscape architecture, design studies as well as offering continuing education certificates and courses. The BAC upholds the importance of inclusive admission, diversity, innovation, dedicated faculty, and the intrinsic value of both academic and experiential education.
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SOURCE Boston Architectural College | https://www.ktre.com/prnewswire/2022/12/19/boston-architectural-college-commissions-international-exhibit-debuting-january-2023/ | 2022-12-19T23:10:16 | en | 0.952759 |
CHARLOTTE, N.C., Dec. 19, 2022 /PRNewswire/ -- Nucor Corporation (NYSE: NUE) announced today that California Steel Industries, Inc. (CSI) will build a continuous galvanizing line at its mill in Fontana, California. The new galvanizing line will serve construction end markets in the western United States and is expected to have an annual capacity of 400,000 tons. With the addition of this new line, CSI will have a total hot dip galvanizing capacity of 1.2 million tons per year. The investment is expected to cost approximately $370 million and take 30 months to construct following regulatory approvals.
"With recent closures of galvanizing capacity in the western region, CSI is seizing an opportunity to provide the high-quality value-added products that our customers have requested," said Leon Topalian, Chair, President and Chief Executive Officer of Nucor Corporation. "This investment continues the strong partnership we have cultivated with JFE Steel of growing together in North America."
CSI is a flat-rolled steel converter with the capability to produce more than 2 million tons of finished steel and steel products annually. The company has five product lines including hot rolled, pickled and oiled, cold rolled, galvanized, and ERW pipe. Key end-use markets served by CSI include the construction, service center and energy markets. CSI employs more than 800 full-time and temporary teammates. CSI is the second partnership between Nucor and JFE Steel of Japan, following the formation of Nucor JFE Steel Mexico, which completed construction in 2020 and is in qualification trials with the burgeoning regional automotive market. Nucor acquired a 51% stake in CSI earlier this year.
In addition to its majority ownership of CSI, Nucor currently operates five strategically located sheet mills that utilize thin slab casters to produce flat-rolled steel for automotive, appliance, construction, pipe and tube, and many other industrial and consumer applications. The company also has a sixth wholly owned sheet mill under construction in West Virginia. The capacity of Nucor's sheet mills is currently estimated at 14 million tons per year and, inclusive of this investment and the planned additions in West Virginia and South Carolina, Nucor will grow to 6.4 million tons of galvanizing capacity in the United States. All of Nucor's sheet mills are equipped with galvanizing lines and five of them are equipped with cold rolling mills for the further processing of hot-rolled sheet steel.
About Nucor
Nucor and its affiliates are manufacturers of steel and steel products, with operating facilities in the United States, Canada and Mexico. Products produced include: carbon and alloy steel -- in bars, beams, sheet and plate; hollow structural section tubing; electrical conduit; steel racking; steel piling; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; precision castings; steel fasteners; metal building systems; insulated metal panels; overhead doors; steel grating; and wire and wire mesh. Nucor, through The David J. Joseph Company, also brokers ferrous and nonferrous metals, pig iron and hot briquetted iron / direct reduced iron; supplies ferro-alloys; and processes ferrous and nonferrous scrap. Nucor is North America's largest recycler.
Forward-Looking Statements
Certain statements contained in this news release are "forward-looking statements" that involve risks and uncertainties which we expect will or may occur in the future and may impact our business, financial condition and results of operations. The words "anticipate," "believe," "expect," "intend," "project," "may," "will," "should," "could" and similar expressions are intended to identify those forward-looking statements. These forward-looking statements reflect the Company's best judgment based on current information, and, although we base these statements on circumstances that we believe to be reasonable when made, there can be no assurance that future events will not affect the accuracy of such forward-looking information. As such, the forward-looking statements are not guarantees of future performance, and actual results may vary materially from the projected results and expectations discussed in this news release. Factors that might cause the Company's actual results to differ materially from those anticipated in forward-looking statements include, but are not limited to: (1) competitive pressure on sales and pricing, including pressure from imports and substitute materials; (2) U.S. and foreign trade policies affecting steel imports or exports; (3) the sensitivity of the results of our operations to prevailing market steel prices and changes in the supply and cost of raw materials, including pig iron, iron ore and scrap steel; (4) the availability and cost of electricity and natural gas, which could negatively affect our cost of steel production or result in a delay or cancellation of existing or future drilling within our natural gas drilling programs; (5) critical equipment failures and business interruptions; (6) market demand for steel products, which, in the case of many of our products, is driven by the level of nonresidential construction activity in the United States; (7) impairment in the recorded value of inventory, equity investments, fixed assets, goodwill or other long-lived assets; (8) uncertainties surrounding the global economy, including excess world capacity for steel production, inflation and interest rate changes; (9) fluctuations in currency conversion rates; (10) significant changes in laws or government regulations affecting environmental compliance, including legislation and regulations that result in greater regulation of greenhouse gas emissions that could increase our energy costs, capital expenditures and operating costs or cause one or more of our permits to be revoked or make it more difficult to obtain permit modifications; (11) the cyclical nature of the steel industry; (12) capital investments and their impact on our performance; (13) our safety performance; and (14) the impact of the COVID-19 pandemic and any variants of the virus. These and other factors are discussed in Nucor's regulatory filings with the Securities and Exchange Commission, including those in "Item 1A. Risk Factors" of Nucor's Annual Report on Form 10-K for the year ended December 31, 2021. The forward-looking statements contained in this news release speak only as of this date, and Nucor does not assume any obligation to update them, except as may be required by applicable law.
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CHICAGO, Dec. 19, 2022 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE), a leading provider of global market infrastructure and tradable products, today announced the election of Hillary A. Sale as a new member of the Boards of Directors for the Cboe U.S. Securities Exchanges, Cboe Futures Exchange, and Cboe SEF. Ms. Sale is the Associate Dean for Strategy, the Agnes Williams Sesquicentennial Professor of Leadership and Corporate Governance, and a Professor of Management at Georgetown University.
Ms. Sale is being added as an additional director on each of the boards, bringing the number of directors on each board to nine.
"We are pleased to welcome Hillary Sale as our newest director on these boards," said Brian Schell, Chief Financial Officer and Treasurer of Cboe Global Markets and Chair of these boards. "Hillary's expertise in leadership and corporate strategy will offer an invaluable perspective as we continue to innovate and expand access to our diverse multi-asset product suite. I look forward to working with her and the rest of the directors on the initiatives that will guide our businesses into the future."
Ms. Sale joined Georgetown University in 2018, where she is currently the Associate Dean for Strategy, the Agnes Williams Sesquicentennial Professor of Leadership and Corporate Governance, and a Professor of Management. She works with business leaders in custom executive education programs at Harvard Law School, where she chairs the Women's Leadership Initiative, and at the Georgetown University McDonough School of Business and Law Center. Ms. Sale is also a member of the Advisory Board of Foundation Press, which is an educational publisher of scholarly books, as well as a faculty member with the National Association of Corporate Directors, which, among other functions, provides director education.
Ms. Sale was previously a member of the FINRA Board of Governors, where she chaired the Regulatory Policy Committee and served on the Executive, Nominating and Governance, Compensation, and Regulatory Operations Committees. Ms. Sale also previously served as a member of the board of DirectWomen, an organization working to increase the representation of women lawyers on corporate boards. Ms. Sale graduated from Harvard Law School and holds a master's degree in Economics from Boston University, where she also completed her bachelor's degree.
The Boards of Directors on which Ms. Sale will serve include the boards of Cboe BYX Exchange, Inc., Cboe BZX Exchange, Inc., Cboe C2 Exchange, Inc., Cboe EDGA Exchange, Inc., Cboe EDGX Exchange, Inc., Cboe Exchange, Inc., Cboe Futures Exchange, LLC, and Cboe SEF, LLC.
About Cboe Global Markets, Inc.
Cboe Global Markets (Cboe: CBOE), a leading provider of market infrastructure and tradable products, delivers cutting-edge trading, clearing and investment solutions to market participants around the world. The company is committed to operating a trusted, inclusive global marketplace, providing leading products, technology and data solutions that enable participants to define a sustainable financial future. Cboe provides trading solutions and products in multiple asset classes, including equities, derivatives, FX and digital assets across North America, Europe and Asia Pacific. To learn more, visit www.cboe.com.
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Cboe®, Cboe Global Markets®, and CFE® are registered trademarks and Cboe Futures ExchangeSM is a service mark of Cboe Exchange, Inc.
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FRANKLIN, N.C., Dec. 19, 2022 /PRNewswire/ -- Drake Software ("Drake" or the "Company"), a provider of comprehensive professional tax preparation software, today announced that Dermot Halpin has joined as Executive Chair. The appointment follows the completion of the acquisition of TaxAct, a leading provider of digital, do-it-yourself ("DIY") tax filing assistance software and services, and the combination of TaxAct with Drake under a single holding company.
Mr. Halpin brings significant leadership experience building and scaling high-growth consumer marketplace platforms. Throughout his career he has led businesses operating worldwide, and previously held senior leadership positions including President of Attractions and Vacation Rentals at TripAdvisor and President of Europe, Middle East and Africa at Expedia. He currently serves as a non-executive Director at Datalex.
Both Drake and TaxAct will continue to operate under their own brands to serve their distinct client bases. Dom Morea, President and CEO of Drake Software, and Curtis Campbell, President and CEO of TaxAct, will remain in their current roles and continue to lead the respective businesses.
Mr. Halpin commented:
"I am thrilled for the opportunity to partner with the exceptional Drake and TaxAct teams to accelerate growth through a focus on how the business can meet the complex needs of tax professionals and individual consumers alike. I have spent my career helping companies and brands create best-in-class organizations, and I share the Drake and TaxAct teams' unwavering focus on their customers. I look forward to working alongside Curtis and Dom to continue to build our capabilities and deliver best-in-class products for customers across the tax ecosystem."
Since it was founded in 1998, TaxAct has grown rapidly, providing DIY tax filing services to more than 90 million individual filers to date, and was the first online software provider to offer free tax filing services.
With a 45-year track record of best-in-class products and services, Drake Software provides software solutions to more than 70,000 tax offices throughout the U.S.
Mr. Campbell commented:
"We are thrilled to partner with Dermot – his deep experience leading and growing large consumer-facing, technology-enabled companies will provide invaluable expertise through our next phase of growth."
Mr. Morea commented:
"We believe that by combining our businesses, both will be better positioned to support our respective customer bases with comprehensive, industry leading products. Our complementary businesses share a collective vision for delighting customers through exceptional customer service."
Media contacts
Drake Software
Krista Lee
Email. krista.lee@drakesoftware.com
TaxAct
Amy Roepke
Email. amy.roepke@taxact.com
About Drake Software
Drake Software, a private company founded in 1977, provides software solutions to more than 70,000 tax and accounting firms that file more than 40 million tax returns every year. Known for its award-winning customer service team, Drake is also consistently recognized for excellence in quality, value, and reliability. As part of its commitment to innovation and customer success, the company has continued to expand product offerings, integrations, and customer-service efforts, more than doubling its customer base over the past decade.
About TaxAct
TaxAct is a savvy, tax-filing solution that provides filers with affordable DIY tax software to successfully navigate the U.S. tax code. As a pioneer in the industry, TaxAct's products enable all users – regardless of profession, tax bracket or complexity of their return – to quickly and accurately file their taxes all while discovering new ways to leverage their tax situation and improve their financial well-being. At TaxAct, taxes are our expertise, but we don't see them as the end goal. Rather, we believe taxes are a stepping-stone to possibility. Possibilities that are unique as every filer. Possibilities that help each hardworking American not only claim the money they deserve but also enable them to make smart money decisions. We deliver the power of possibility through straightforward technology to help filers secure their best tax outcome and elevate their financial lives.
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HOUSTON, Dec. 19, 2022 /PRNewswire/ -- Zeta Energy, a Texas-based company that has developed a safe, low-cost, high performance and sustainable battery for the electric vehicle and energy storage markets, announced today that Dr. Franz Josef Kruger has joined Zeta's advisory board.
Franz Josef Kruger is Chief Executive Officer at InnoventisConsulting S.A. and a Senior Advisor at Roland Berger, a global consultancy with extensive experience in the automotive, battery and energy sectors. He was formerly head of R&D for electric vehicle batteries at Varta AG and brings over forty years of experience working with batteries and the automotive industry.
As noted by Charles Maslin, CEO of Zeta Energy, "Franz's deep industry knowledge and expertise across the entire battery manufacturing process along with his stellar industry reputation make him an invaluable addition to the Zeta team. The fact that Franz was attracted to Zeta after being hired by a third party to evaluate the commercial viability of our technology is an affirmation of our critical path as well as an honor to our team."
Zeta Energy has developed a lithium sulfur battery system with both a proprietary cathode and a proprietary anode. Its sulfurized carbon cathodes offer superior stability and capacity by preventing the polysulfide shuttle effect that has long held back advances in lithium sulfur batteries. Zeta's sulfur-based cathodes are also inherently inexpensive, dramatically simplifying and securing the supply chain by eliminating the use of cobalt, nickel, and manganese. Zeta's lithium metal anode is dendrite free and has significantly higher energy density than current and advanced anode technologies.
Zeta Energy is a US-based privately-held company focused on developing and commercializing high performance, safe, rechargeable batteries that are lower cost and sustainably manufactured. Zeta has filed more than thirty patents on its proprietary carbon nanotube anode and sulfur cathode technology. The Company may from time to time disclose public material events via its website at http://www.ZetaEnergy.com or its social media accounts at the following locations:
https://www.linkedin.com/company/zeta-energy-corp/about/
https://twitter.com/ZetaEnergy
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Company prohibited from distributing drug products that violate the law
SILVER SPRING, Md., Dec. 19, 2022 /PRNewswire/ -- Today, the U.S. District Court for the Western District of Oklahoma entered a consent decree against Qualgen LLC, an outsourcing facility with a history of violations. The consent decree prohibits the company from directly or indirectly distributing adulterated drugs in interstate commerce.
The consent decree entered against Qualgen, its majority owner, Shaun Riney, and its Director of Quality, Jasen Lavoie, follows a complaint filed by the U.S. Department of Justice on behalf of the U.S. Food and Drug Administration. The complaint asserts that Qualgen introduced into interstate commerce adulterated drugs that were manufactured, processed, packed or held under conditions that violate current good manufacturing practice (CGMP) requirements.
"While drugs compounded by outsourcing facilities are not subject to pre-market review and approval by the FDA for safety and effectiveness, they must comply with rigorous manufacturing quality assurance requirements," said Jill P. Furman, J.D., acting director of the Office of Compliance in the FDA's Center for Drug Evaluation and Research. "The FDA's commitment to ensuring compliance with current good manufacturing practice requirements is a critical protection for patients. We will remain vigilant and hold all manufacturers accountable to best protect the public health."
Under section 503B of the Federal Food, Drug, and Cosmetic Act (FD&C Act), a compounder can register as an outsourcing facility, which is defined as a facility at one geographic location or address that is engaged in the compounding of sterile drugs, has elected to register as an outsourcing facility and complies with all the requirements of section 503B of the FD&C Act. Qualgen is registered with the FDA as an outsourcing facility.
Drugs compounded by an outsourcing facility can qualify for exemptions from FDA approval requirements and the requirement to label products with adequate directions for use, but not from CGMP requirements.
The agency inspected and cited Qualgen for violations of CGMP requirements during several inspections since 2015, issuing a safety alert in 2015 and a warning letter in 2016. The FDA's most recent inspection of Qualgen's Oklahoma facilities ended in September 2022. Qualgen manufactures and ships compounded drugs from its Oklahoma facilities.
Compounded drugs can serve an important role for patients whose medical needs cannot be met by an FDA-approved drug product. Compounded drugs are not approved by the FDA and, therefore, have not been evaluated for safety or efficacy.
The case was filed by the U.S. Department of Justice's Consumer Protection Branch, on behalf of the FDA.
Additional Resources:
Media Contact: Audra Harrison, 301-908-6101
Consumer Inquiries: 888-INFO-FDA
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The following is attributed to FDA Commissioner Robert M. Califf, M.D.
SILVER SPRING, Md., Dec. 19, 2022 /PRNewswire/ -- Earlier this year, I commissioned an external evaluation of the U.S. Food and Drug Administration's Tobacco Program, to be conducted by an external expert panel facilitated by the Reagan-Udall Foundation, led by former FDA Chief of Staff Lauren Silvis. The panel was asked to assess the Tobacco Program's regulatory processes and agency operations relating to regulations and guidance, application review, compliance and enforcement and communication with the public and other stakeholders.
Today, the panel released its findings and recommendations to the agency. I want to thank the panel and the Reagan-Udall Foundation for their work and for all those, including FDA staff and external stakeholders, who provided important feedback for the panel to consider.
Over the next several weeks, Center for Tobacco Products leadership will closely review the report's findings and recommendations, in consultation with the Commissioner's Office, to determine next steps and will provide an update by early February. Importantly, since joining the FDA as the director for the Center for Tobacco Products in July, Brian King, Ph.D., M.P.H., has continued to build on the work of his predecessors while also implementing changes to best position the center for success moving forward.
This work is particularly critical as we focus on preventing initiation, while also helping people quit, especially the deadliest form of tobacco use, combustible tobacco products. Despite meaningful declines in cigarette use over the past several decades, nearly 500,000 Americans still die every year from cigarette smoking. Additionally, with more than 3 million youth reporting current use of a tobacco product in 2022, and e-cigarettes being the most used product, we risk another generation becoming addicted to these products.
While we consider potential improvements to our operations and processes for tobacco product regulation, we are committed to communicating any changes with clarity and transparency for our many stakeholders. For the FDA to build on this work in the ever-evolving tobacco marketplace, it's also critical to ensure CTP has what it needs to adequately and efficiently address the recommendations in the report.
We've made important progress and reached science-based regulatory decisions across a broad array of products in the 13 years since Congress tasked the FDA with regulating tobacco products. And as I've noted previously, even greater challenges and opportunities lie ahead as we determine how the agency will navigate complex policy issues and determine enforcement activities for an increasing number of novel products that could potentially have significant impact on public health.
The hardworking and talented individuals in CTP, and across the FDA, deserve the best support possible so they can fulfill their strong commitment to public health – and the American public that we serve. It is my belief that this effort will continue strengthening the FDA and better position the agency to deal with the many immediate public health issues related to tobacco products we are facing, while preparing for challenges and opportunities in the future.
Media Contact: FDA Office of Media Affairs, 301-796-4540
Consumer Inquiries: Email, 888-INFO-FDA
The FDA, an agency within the U.S. Department of Health and Human Services, protects the public health by assuring the safety, effectiveness, and security of human and veterinary drugs, vaccines and other biological products for human use, and medical devices. The agency also is responsible for the safety and security of our nation's food supply, cosmetics, dietary supplements, products that give off electronic radiation, and for regulating tobacco products.
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LUBBOCK, Texas, Dec. 19, 2022 /PRNewswire/ -- Texas District Court Judge James Wesley Hendrix held a preliminary injunction hearing in case number 6:22-cv-00049-H, Schelske v. Austin.
The case involves six Army soldiers and four Army West Point cadets who have been denied their request for religious accommodation from receiving the currently available COVID-19 vaccines in violation of the Religious Freedom Restoration Act and the First Amendment.
At the end of the six-hour hearing, the United States Army was directed to notify the Court of the names of any other soldiers or cadets it intends to discharge for refusing a Covid-19 vaccine for religious reasons at least seven days before discharge. If you are in the Army and believe you are in this situation, please email wcox@sirillp.com.
Plaintiffs are represented by attorneys Aaron Siri, Wendy Cox, and Elizabeth A. Brehm of Siri & Glimstad; Chris Wiest of Chris Wiest Attorney at Law, PLLC; and Thomas Bruns of Bruns, Connell, Vollmar & Armstrong, LLC.
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PHILADELPHIA, Dec. 19, 2022 /PRNewswire/ -- FMC Corporation (NYSE: FMC) announced today it will release its fourth quarter 2022 earnings on Tuesday, February 7, 2023, after the stock market close via PR Newswire and the company's website https://investors.fmc.com.
The company will host a webcast conference call on Wednesday, February 8, 2023, at 9:00 a.m. ET that is open to the public via internet broadcast and telephone.
Fourth Quarter Conference Call Details:
Internet broadcast: https://investors.fmc.com
Dial-in telephone numbers:
US Toll Free: 1-844-200-6205
Canada Toll Free: 1-833-950-0062
Other International: 1-929-526-1599
Access code: 296895
A replay of the call will be available via the internet and telephone from 11:00 a.m. ET on February 8, 2023 until March 1, 2023.
Internet replay: https://investors.fmc.com
US Toll Free: 1-866-813-9403
Canada: 1-226-828-7578
Other International: +44-204-525-0658
Replay Access Code: 464793
About FMC
FMC Corporation is a global agricultural sciences company dedicated to helping growers produce food, feed, fiber and fuel for an expanding world population while adapting to a changing environment. FMC's innovative crop protection solutions – including biologicals, crop nutrition, digital and precision agriculture – enable growers, crop advisers and turf and pest management professionals to address their toughest challenges economically while protecting the environment. With approximately 6,400 employees at more than 100 sites worldwide, FMC is committed to discovering new herbicide, insecticide and fungicide active ingredients, product formulations and pioneering technologies that are consistently better for the planet. Visit fmc.com to learn more and follow us on LinkedIn® and Twitter®.
Statement under the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995: This release contains forward-looking statements, which are based on management's current views and assumptions regarding future events, future business conditions and the outlook for the company based on currently available information. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any results, levels of activity, performance or achievements expressed or implied by any forward-looking statement. In addition to the continued uncertainty generated by the ongoing COVID pandemic on our financial condition, results of operations, cash flows and performance, additional factors include, among other things, the risk factors and other cautionary statements included within FMC's 2021 Form 10-K filed with the SEC as well as other SEC filings and public communications. Moreover, investors are cautioned to interpret many of these factors as being heightened as a result of the ongoing and numerous adverse impacts of COVID.
FMC cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Forward-looking statements are qualified in their entirety by the above cautionary statement. FMC undertakes no obligation, and specifically disclaims any duty, to update or revise any forward-looking statements to reflect events or circumstances arising after the date on which they were made, except as otherwise required by law.
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RESTON, Va., Dec. 19, 2022 /PRNewswire/ -- General Dynamics (NYSE: GD) announced today that it has appointed chief financial officer Jason Aiken as executive vice president of the Technologies segment effective January 1, 2023. Aiken will retain his responsibilities as chief financial officer while expanding his leadership role. Christopher Marzilli, who has served as executive vice president of Technologies since 2019, has informed the company of his intent to retire in early 2023.
Phebe N. Novakovic, chairman and chief executive officer, said "Chris Marzilli has served General Dynamics with distinction for 40 years and contributed to the robust growth and profitability of the Technologies segment. We thank Chris for his many years of service to General Dynamics and we wish him well."
"Jason Aiken is a very capable, proven leader who is positioned to ensure that the Technologies segment continues to meet our customers' needs while delivering on its strong backlog and focusing on future growth," said Novakovic.
Aiken has served as senior vice president and chief financial officer of the company since January 2014.
General Dynamics is a global aerospace and defense company that offers a broad portfolio of products and services in business aviation; ship construction and repair; land combat vehicles, weapons systems and munitions; and technology products and services. General Dynamics employs more than 100,000 people worldwide and generated $38.5 billion in revenue in 2021. More information about General Dynamics is available at www.gd.com.
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Farming First is currently building what will become the largest contiguous outdoor cultivation operation in California.
VENTURA, Calif., Dec. 19, 2022 /PRNewswire/ -- Fifth generation agriculturalist William Terry and entrepreneur Stephen Walden today unveiled a new operation focused on bringing best-in-class farming practices to California sun-grown cannabis. Rooted in verdant Santa Barbara County, Farming First Holdings, LLC (the "Company") has established 134 acres of rolling outdoor cultivation, possessing entitlements for what will become the largest contiguous outdoor cultivation operation in California.
Farming First offers a variety of products and services to the cannabis industry: single-source bulk wholesale flower; white-labeling; co-packaging; and custom farming contracts for specific needs, including dried and cured flower, fresh frozen, and unique phenotypical and cannabinoid specific strains. All of Farming First's cannabis plants are sustainably sun-grown under hoop houses, focusing on rich terpene profiles expressed through the Company's hybrid farming methodology.
"Farming First isn't just our name—it's our mission," said co-founder and CEO Terry. "My family has farmed California's Central Coast region for more than 125 years, giving me immense respect for the land and surrounding community. Along with Walden and the other founders, we've assembled an incredible team that brings together unrivaled cultivation know-how and modern innovation, including agricultural experts, legacy cannabis farmers, lifelong entrepreneurs, and visionary designers and engineers."
Farming First's recently appointed executive leadership team includes:
- William Terry, Co-Founder & Chief Executive Officer: Terry has served on a variety of boards, including as president of the Ventura County Farm Bureau, University of California's Hansen Fund, California Pepper Commission, and others. He also serves as vice president of Terry Farms, a 2,000+ acre specialty crop operation.
- Stephen Walden, Co-Founder & Chief Operations Officer: Prior to co-founding Farming First, Walden founded Bosse Tools, revolutionizing hardware tools with ergonomic design that he patented and later licensed. He also launched a lifestyle cannabis brand in 2018.
- Jered Micheli, Co-Founder and Agricultural Officer: Micheli is a fourth-generation farmer from northern California with over 15 years of experience in the cannabis industry. He previously managed western U.S. agricultural operations for Canopy Growth, and helped shape the regulatory framework for recreational cannabis.
- Scott Wilson, Chief Branding Officer: Wilson is the former Chief Experience Officer at Cresco Labs, responsible for creating the industry-leading MSO's House of Brands. He is the founder and principal designer of the product development, brand strategy and business innovation firm MNML, creating billions of dollars of commercial success for brands including Nike, Nespresso, Theragun, Bang & Olufsen, Google, Meta and Xbox. Wilson received the prestigious Smithsonian Cooper-Hewitt National Design Award, an honor bestowed by the White House on the nation's top designer each year.
- Thomas Salzillo, Chief Finance Officer: A Southern California native with a background in accounting, Salzillo's demonstrable influence and financial prowess in the cannabis industry has been recognized with the designation of 2019 CPA of the Year by the California Cannabis Awards.
- Mario de la Piedra, Vice President of Operations: Born and raised in Ventura County, de la Piedra has been involved in all aspects of agriculture, including farming, political advocacy and most recently, the founding of an agribusiness insurance company. He currently serves as an advisor to Seso, an agtech labor marketplace.
"Farming First is showcasing quality flower through a diversity of strains by applying the best of indoor, greenhouse, and outdoor growing techniques to our crop," said Walden. "We like to call our farm a one-lighter because our plants are 100 percent solar-powered by the sun—the best and most natural source there is."
Added Wilson, "Today's cannabis consumer is curious about where their product comes from: where it's grown, how it's grown, and the stories behind the brands they put in their bodies and bring into their homes. We're providing California operators with flower they can be proud to put their name on, and anticipate launching our own lineup of product brands very soon."
Farming First is on a mission to revolutionize and lead the sun-grown cannabis market in California. With a focus on sustainable growing practices and ethical land management, the Company employs energy-efficient farming practices such as water saving irrigation technology, solar powered hoop house venting and sunlight deprivation, as well as sustainable cattle grazing on over 1,200 acres of surrounding lands. Additionally, Farming First is working with environmental groups to help protect the endangered California Tiger Salamander indigenous to its land.
The Company has raised over $35M in private funding since its inception, with plans to expand the farm's scale and yield.
For more information on Farming First, visit www.farmingfirst.com.
ABOUT FARMING FIRST, LLC.
Founded in 2019, Farming First is an outdoor cannabis cultivator, processor, and distributor in the heart of California's Central Coast focused on bringing best-in-class farming and sustainability practices to the state's cannabis industry. With 134 acres of rolling cultivation, Farming First possesses entitlements for what will become the largest contiguous outdoor cultivation operation in California. The Company offers a plethora of options for the cannabis industry: single-source bulk wholesale cannabis; white-labeling; co-packaging; and custom farming contracts for specific needs, including dried and cured flower, fresh frozen, unique phenotypes, cannabinoid specific strains and more. Harnessing the natural resources of California's Central Coast, Farming First supplies some of the state's leading cannabis brands, in addition to having its own soon-to-launch portfolio of brands. The team includes fourth- and fifth-generation farmers who know the land and are committed to growing high-quality sun-grown cannabis in the most sustainable way possible.
Media Contact:
Hilary Morse
Trailblaze for Farming First
farmingfirst@trailblaze.co
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– Deven McGraw to serve a 3-year term beginning in 2023 –
SAN FRANCISCO, Dec. 19, 2022 /PRNewswire/ -- Invitae (NYSE: NVTA), a leading medical genetics company, announced the appointment by the U.S. Government Accountability Office (GAO) of Deven McGraw, lead of data stewardship and data sharing at Invitae, to the National Health Information Technology Advisory Committee (HITAC).
Established as part of the 21st Century Cures Act in 2016, HITAC provides recommendations to the National Coordinator for Health Information Technology on policies, standards, implementation specifications, and certification criteria relating to the implementation of a health information technology infrastructure that advances the electronic access, exchange, and use of health information.
"I am honored to be appointed to HITAC to help shape the nation's health information policy, particularly as it relates to increasing access to important patient health data in a way that is ethical and transparent," said McGraw. "Through my participation on HITAC's 2022 Adopted Standards Task Force subcommittee, I've already had the opportunity to advise on the existing set of ONC adopted standards and am looking forward to continuing my work with this impressive group on the full committee. Invitae's mission to increase access to and interoperability of consented patient health information will provide a valuable perspective as we work towards the mission of improving healthcare IT."
McGraw's term will begin on January 1, 2023. McGraw also serves on a subcommittee advising the State of California on its data sharing framework policies and procedures. In her role at Invitae, McGraw is lead for data stewardship and data sharing. She co-founded and was the Chief Regulatory Officer of Ciitizen, a health technology company acquired by Invitae that works to enable patients to collect, manage, and share their medical information. Her previous experience includes serving as the Deputy Director of Health Information Privacy within the U.S. Department of Health and Human Services Office of Civil Rights, as the Acting Chief Privacy Officer for the Office of the National Coordinator for Health IT, and as a partner with Manatt, Phelps & Phillips, LLP. McGraw received her Juris Doctor from Georgetown University Law Center and her Master of Public Health from Johns Hopkins Bloomberg School of Public Health.
For more information on the committee, visit the HITAC website.
About Invitae
Invitae is a leading medical genetics company trusted by millions of patients and their providers to deliver timely genetic information simplified by digital technology. With accurate and actionable answers to strengthen medical decision-making, Invitae gives individuals and their families powerful, personalized insights that could improve and extend their lives. Invitae's genetics experts apply a rigorous approach to data and research, serving as the foundation of their mission: to bring comprehensive genetic information into mainstream medicine to improve healthcare for billions of people.
To learn more, visit invitae.com and follow for updates on Twitter, Instagram, Facebook and LinkedIn @Invitae.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the company's mission to increase access to and interoperability of consented patient health information. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially, and reported results should not be considered as an indication of future performance. These risks and uncertainties include, but are not limited to: the company's history of losses; the company's ability to compete; the company's failure to manage growth effectively; the company's need to scale its infrastructure in advance of demand for its tests and to increase demand for its tests; the company's ability to use rapidly changing genetic data to interpret test results accurately and consistently; security breaches, loss of data and other disruptions; laws and regulations applicable to the company's business; and the other risks set forth in the company's filings with the Securities and Exchange Commission, including the risks set forth in the company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2022. These forward-looking statements speak only as of the date hereof, and Invitae Corporation disclaims any obligation to update these forward-looking statements.
Contact:
Renee Kelley
pr@invitae.com
(628) 213-3283
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The state-of-the-art building at 3201 Cuthbert Street will be the largest life sciences research and lab facility in the city
PHILADELPHIA, Dec. 19, 2022 /PRNewswire/ -- JLL's Capital Markets group announced today that it has arranged a $290 million construction loan that will allow project partners Gattuso Development Partners and Vigilant Holdings of New York to build a state-of-the-art research facility at 3201 Cuthbert Street, an 11-story life sciences development in the heart of Philadelphia's University City submarket.
Working on behalf of Gattuso and Vigilant, JLL secured the loan through Corebridge Financial, as well as an additional equity commitment through The Baupost Group.
Designed by world-renowned architect Robert A.M. Stern Architects, the LEED® Gold-certified building will be the largest life sciences research and lab facility in the city – featuring 519,647 square feet of wet lab / dry space, 11,908 square feet of street-level retail space and 137 underground parking stalls. Critical lab infrastructure will include lab-friendly column spacing, expanded floor-to-floor heights, an HVAC system designed specifically for lab research, best practice chemical storage space and ph neutralization capability, six enclosed loading docks and generous space for tenant equipment and vertical shaft infrastructure. SmartLabs and Drexel University have pre-leased 45% of the lab space. This will mark SmartLab's seventh location and first commitment to a market outside of San Francisco or Boston, demonstrating the strength of the Philadelphia life sciences market, which was ranked fifth in the nation in JLL's 2022 Life Sciences Lab Real Estate Outlook.
3201 Cuthbert St. benefits from its location on Drexel University's campus in University City, which is the epicenter of Philadelphia's life sciences market and a global hub for gene and cell therapy, a growing segment of the sector. University City spans 2.4 square miles and is home to one of the largest concentrations of health systems, teaching institutions, life sciences, biotech and pharmaceutical companies in the world.
"We appreciate the chance to work with the great team at JLL to complete the capital stack for this important project," said John Gattuso, Gattuso's President and co-founder. "We believe the project validates Philadelphia's emergence as a global hub for life sciences research, and we are excited to begin construction."
JLL's Capital Markets Debt and Equity Advisory teams were led by Senior Managing Directors Ryan Ade, Brett Segal and Christopher Peck.
"University City stands within the top tier of national life sciences markets, and similar to other premier markets, is experiencing a shortage of supply caused by high barriers to development," Ade and Segal said. "3201 Cuthbert has already been well-received by the market with 45% of the space already leased. Given the appeal of the market, the preeminence of the planned development and the immediate access to research institutions at Drexel and The University of Pennsylvania, we expect interest in the project to attract best-in-class tenancy."
JLL's Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The group's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos, and research resources on JLL, please visit our newsroom.
About Gattuso Development Partners
Gattuso Development Partners is a developer of exceptional, sustainable high-performance workplaces. Gattuso recognizes that the right work environment is the most critical asset a business can offer to attract, retain and inspire its employees and promote long term success. For more information, please visit: gattusodevelopmentpartners.com.
About Vigilant Holdings
Vigilant Holdings was founded in 2020 to acquire strategic and diversified assets across the United States with a specific focus on life sciences developments. The platform leverages nearly 70 years of combined real estate experience and relationships to capitalize transactions of varying sizes and risk profiles. Led and co-founded by David Fowler and based in New York, Vigilant currently owns over 1 million square feet of life sciences developments on both the east and west coasts.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of September 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
Connect with us
https://www.linkedin.com/company/jll
https://www.facebook.com/jll
https://twitter.com/jll
https://www.instagram.com/jll
Contact: Kristen Murphy, JLL Director, Public Relations
Phone: +1 617 543 4873
Email: Kristen.Murphy@jll.com
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The North Platte prep swim team has already had some notable performances in the early portion of its season.
Sophomore Tanner Schmid-Sutton set a boys program mark in the 100 backstroke during the Kearney Invite on Dec. 15, and has also recorded state meet-qualifying times in three additional events: the 50 and 100 freestyle and the 100 butterfly.
The underclassman is not the only member of the team to achieved that success.
Dana Sorenson has qualifying times for the girls state meet in the 50 and 100 free, and fellow senior teammate Kadence Dowhower has done so in the 100 butterfly.
In addition, junior Cooper Leibhart has a qualifying time in the boys 100 back.
All four individuals were participants in the state meet last season.
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Juniors Sydney Hatch, Lyndee Friedrich, Noah Short, David Fitzpatrick also are returning state qualifiers along with sophomore Nora Wehr and senior RJ Stefka.
Sophomore Mackenzie Bruns is the program's only returner in the diving competition.
"She is working very hard to get the 300 points needed on her 11 dives to qualify (for state)," Jahnke said.
"This group of veteran swimmers have pretty much been lifelong swimmers," North Platte coach Brian Jahnke said. "They all train very hard and are great teammates to the younger novice group."
North Platte’s boys and girls 200 medley and 200 free relays have also qualified, and Jahnke feels the group can go even faster.
“I feel as the season progresses, our relays will get stronger and cut more time,” Jahnke said. “(The relay teams) are veteran swimmers in every sense of the word and I expect them to get stronger and stronger as the season progresses.”
There are 39 boys and girls on the roster this season, with 25 being either a sophomore or junior. Jahnke said Sorenson is close to breaking the girls program mark in the 50 free.
North Platte's next meet is Jan. 6 in Kearney, followed by an invitational in Lincoln four days later.
"Both are very challenging meets with many talented teams," Jahnke said, "which is great for our swimmers to challenge them.".
The Bulldogs have six meets or invitationals in January with the lone one at home scheduled Jan. 20 at the North Platte Recreation Center against McCook. | https://nptelegraph.com/north-platte-swimmers-posting-program-record-state-qualifying-times-so-far/article_529cebe0-7f08-11ed-899a-074c2f537cf9.html | 2022-12-19T23:11:22 | en | 0.96996 |
CHICAGO, Dec. 19, 2022 /PRNewswire/ -- A racial discrimination lawsuit has been filed against Zep Inc., a leading industrial and consumer cleaning products company, by one of its Chicago-based employees. The female employee, who is Black alleges the following:
- In November 2021, during a virtual training session, Zep's Vice President of Sales and Service said something to the effect of, "This may offend some people but...." and then repeatedly used a known racial slur, as he described Black workers in the South. The plaintiff was the only Black person in the virtual room.
- The slur was repeated in the presence of at least a dozen other employees, yet nobody voiced an objection.
- The plaintiff immediately complained to multiple people within the company including to HR.
- Zep's Executive Vice President and Chief Administrative Officer told the plaintiff that the VP of Sales did not know the word was a known racial slur.
- When the plaintiff pushed back, the Executive VP told her that since she "couldn't get over it," he would help her "transition from Zep," despite the plaintiff stating that she liked her job but that she did not feel safe.
- Then in January 2022, in an attempt to silently push her out of her job, the Executive VP handed the plaintiff a "Separation Agreement and Release of Claims," offering her 12-weeks' compensation, disguised as wages, in exchange for her confidentiality and departure from the company. She refused to leave.
- In response, Zep continued to retaliate against her by assigning her more dead accounts.
- The plaintiff is a virtual account representative for Zep, a manufacturer of cleaning products to businesses and retailers, including but not limited to Home Depot, Lowe's, Walmart, and Ace Hardware, along with manufacturing giants like Siemens.
The plaintiff is represented by Tamara Holder, who focuses her law practice on employment discrimination, sexual abuse/harassment, and institutional abuse. Holder is a nationally recognized voice on workplace equality and worked as a progressive legal analyst and host on Fox News Channel for nearly a decade. The Law Firm of Tamara N. Holder, LLC, is a boutique practice founded in 2005 by Chicago. For more information, visit tamaraholder.com.
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NEWARK, Calif., Dec. 19, 2022 /PRNewswire/ -- Lucid Group, Inc. (Nasdaq: LCID; "Lucid") announced today that it has completed its previously announced "at-the-market" equity offering program.
Through the program, Lucid sold more than 56.2 million shares of its common stock for gross proceeds of approximately $600 million.
The successful capital raise of approximately $1.515 billion, which includes approximately $915 million that Lucid expects to raise through the private placement of approximately 85.7 million shares to an affiliate of the Public Investment Fund ("PIF"), Ayar Third Investment Company ("Ayar"), pending settlement in December 2022, will be used, as previously disclosed, for general corporate purposes, which may include, among other things, capital expenditures and working capital. As previously disclosed, the price that Ayar is paying in the private placement equals the volume-weighted average price achieved in the "at-the-market" offering. This private placement is not a part of the "at-the-market" offering and is in addition thereto. Subject to certain exceptions, Ayar has agreed not to, among other things, offer, sell, pledge or otherwise transfer any shares of our common stock for six months after the date of the private placement.
Lucid expects that the additional capital raised will further strengthen its balance sheet and liquidity position.
This press release does not constitute an offer to sell or the solicitation of an offer to buy shares of Lucid's common stock, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About Lucid Group
Lucid's mission is to inspire the adoption of sustainable energy by creating advanced technologies and the most captivating luxury electric vehicles centered around the human experience. The Company's first car, Lucid Air, is a state-of-the-art luxury sedan with a California-inspired design that features luxurious full-size interior space in a mid-size exterior footprint. The Lucid Air Grand Touring features an official EPA estimated 516 miles of range or 1,050 horsepower. Deliveries of Lucid Air, which is produced at Lucid's factory in Casa Grande, Arizona, are currently underway to U.S. and Canadian customers.
Investor Relations Contact
investor@lucidmotors.com
Media Contact
media@lucidmotors.com
Trademarks
This communication contains trademarks, service marks, trade names and copyrights of Lucid Group, Inc. and its subsidiaries and other companies, which are the property of their respective owners.
Forward-Looking Statements
This communication includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "shall," "expect," "anticipate," "believe," "seek," "target," "continue," "could," "may," "might," "possible," "potential," "predict" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding plans and expectations with respect to timing and volume of sales to Lucid's majority stockholder and the promise of Lucid's technology. These statements are based on various assumptions, whether or not identified in this communication, and on the current expectations of Lucid's management. These forward-looking statements are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ from these forward-looking statements. Many actual events and circumstances are beyond the control of Lucid. These forward-looking statements are subject to a number of risks and uncertainties, including those factors discussed under the heading "Risk Factors" in Part II, Item 1A of Lucid's Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, as well as other documents Lucid has filed or will file with the SEC. If any of these risks materialize or Lucid's assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Lucid currently does not know or that Lucid currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Lucid's expectations, plans or forecasts of future events and views as of the date of this communication. Lucid anticipates that subsequent events and developments will cause Lucid's assessments to change. However, while Lucid may elect to update these forward-looking statements at some point in the future, Lucid specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Lucid's assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon the forward-looking statements.
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Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 In NeoGenomics To Contact Him Directly To Discuss Their Options
NEW YORK, Dec. 19, 2022 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against NeoGenomics, Inc ("NeoGenomics" or the "Company") (NASDAQ: NEO) and reminds investors of the February 6, 2023 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you suffered losses exceeding $100,000 investing in NeoGenomics stock or options between February 27, 2020 and April 26, 2022 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/NEO.
There is no cost or obligation to you.
Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.
According to the lawsuit, during the class period, Defendants made false and misleading statements or failed to disclose the following: (1) Defendants represented to investors that it had a "comprehensive menu" of cancer tests with "every kind of testing modality that you can use for cancer, including some of the fast-growing new ones, like next-generation sequencing," which positioned the Company as a "one-stop-shop" for pathologists and gave NeoGenomics "a competitive advantage" as a "go-to reference lab with a comprehensive menu for just about any kind of tests that you want to have done in cancer." (2) Defendants represented that NeoGenomics could "leverage" the supposedly "fixed cost" structure of its business to improve profitability as revenue increased and touted the Company's "robust Compliance Program . . . to ensure compliance with the myriad of . . . laws, regulations and governmental guidance applicable to our business."
On November 4, 2021, NeoGenomics revealed that it was, "conducting an internal investigation with the assistance of outside counsel that focuses on the compliance of certain consulting and service agreements with federal healthcare laws and regulations" including "those relating to fraud, waste and abuse," and had "accrued a reserve of $10.5 million for potential damage and liabilities associated with the federal healthcare program revenue received spanning multiple years."
Next, on March 28, 2022, NeoGenomics disclosed the departure of its CEO "effective immediately" and simultaneously reduced its financial guidance largely due to "higher than anticipated" costs.
Finally, on April 27, 2022, NeoGenomics revealed that "higher payroll and payroll related costs" drove decreased profit and increased operating expenses, and admitted that its portfolio of cancer tests "is weighted to legacy" tests "while the market is moving towards larger, more comprehensive panels." The Company further admitted that it had "not kept up" with competitors that were offering more in-demand technologically advanced cancer tests.
These disclosures caused the value of NeoGenomics stock to decline dramatically, resulting in significant harm to investors.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding NeoGenomic's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
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Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 In Polished To Contact Him Directly To Discuss Their Options
NEW YORK, Dec. 19, 2022 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Polished.com Inc. f/k/a 1847 Goedeker Inc. ("Polished" or the "Company") (NYSEAMER: POL, GOED) and reminds investors of the December 30, 2022 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you suffered losses exceeding $100,000 investing in Polished stock or options (i) pursuant and/or traceable to the registration statement and related prospectus issued in connection with the Company's 2020 initial public offering (the "IPO" or "Offering"); and/or (ii) between July 27, 2020 and August 25, 2022, both dates inclusive (the "Class Period") and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/POL.
There is no cost or obligation to you.
Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.
As detailed below, the lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) the Company would restate certain financials; (2) the Company's internal controls were inadequate; (3) the Company downplayed and obfuscated its internal controls issues; (4) as a result, the Company would engage in an independent investigation; (5) as a result of the investigation, the Company would, among other things, retain independent counsel and consultants, and delay its quarterly filings in violation of NYSE requirements of listing; (6) following the commencement of the investigation, the Company's CEO and CFO would leave the Company; and (7) as a result, defendants' public statements were materially false and/or misleading at all relevant times. Also according to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the Company's internal controls were inadequate; (2) the Company downplayed and obfuscated its internal controls issues; (3) the Company did not properly construct or remediate its inadequate and ineffective internal controls; (4) contrary to the Company's statements, the Company was not remediating its internal controls; (5) as a result, the Company would engage in an independent investigation; (6) as a result of the investigation, the Company would, among other things, retain independent counsel and consultants, and delay its quarterly filings in violation of NYSE requirements of listing; (7) following the commencement of the investigation, the Company's CEO and CFO would leave the Company; and (8) as a result, defendants' public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Polished's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
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DENVER, Dec. 19, 2022 /PRNewswire/ -- The Board of Trustees (the "Board") of Principal Real Estate Income Fund (the "Fund"), announced today that it has approved a renewal of the Fund's share repurchase program. Under the share repurchase program, the Fund may purchase up to approximately 3.5% of its outstanding common shares beginning January 21, 2023, in the open market, until January 21, 2024. As part of its evaluation of options to enhance shareholder value, the Board has authorized ALPS Advisors, Inc. (the "Advisor") to repurchase the Fund's common shares at such times and in such amounts as the Advisor reasonably believes may enhance shareholder value.
The Board and the Advisor continually analyze options to enhance shareholder value and potentially reduce the discount between the market price of the Fund's common share and the net asset value per share ("NAV"). The Board and the Advisor believe that the share repurchase program may further these goals because the program allows the Fund to acquire its shares in the open market at a discount to NAV, which will increase the NAV and thereby benefit remaining shareholders while potentially providing additional liquidity in the trading of the fund shares. The Board will monitor the repurchase program and will continue to consider strategic options to enhance shareholder value in the long-term.
The Fund's repurchase program will be implemented on a discretionary basis under the direction of the Advisor. There is no assurance that the Fund will purchase shares at any specific discount level or in any specific amount or that the market price of the Fund's shares will increase as a result of any share repurchases.
RISKS
An investment in the Fund is not appropriate for all investors and is not intended to be a complete investment program. The Fund is designed as a long-term investment and not as a trading vehicle.
Investing in the Fund involves risks, including the risk that you may receive little or no return on your investment or that you may lose part or even all of your investment and exposure to below-investment grade investments (i.e., "junk bonds"). The Fund's net asset value will vary and its distribution rate may vary and both may be affected by numerous factors, including changes in the market spread over a specified benchmark, market interest rates and performance of the broader equity markets. Fluctuations in net asset value may be magnified as a result of the Fund's use of leverage. Therefore, before investing you should carefully consider the risks that you assume when you invest in the Fund's common shares.
Securities backed by commercial real estate assets are subject to market risks similar to those of direct ownership of commercial real estate assets including, but not limited to, declines in the value of real estate, declines in rental or occupancy rates and risks related to general and local economic conditions.
The Fund's investment objectives and policies are not designed to seek to return the initial investment to investors that purchase shares.
An investor should consider investment objectives, risks, charges and expenses carefully before investing. To obtain an annual report or semi-annual report which contains this and other information visit www.principalcef.com or call 855.838.9485. Please read them carefully before investing.
Shares of closed-end investment companies frequently trade at a discount from their net asset value and initial offering prices.
NOT FDIC INSURED | May Lose Value | No Bank Guarantee
The Fund is a closed-end fund and does not continuously issue shares for sale as open-end mutual funds do. Since the initial public offering, the Fund now trades in the secondary market. Investors wishing to buy or sell shares need to place orders through an intermediary or broker. The share price of a closed-end fund is based on the market's value.
ALPS Advisors, Inc. is the investment adviser to the Fund.
Principal Real Estate Investors LLC is the investment sub-adviser to the Fund. Principal Real Estate Investors LLC is not affiliated with ALPS Advisors, Inc. or any of its affiliates.
ALPS Portfolio Solutions Distributor, Inc. is the FINRA Member firm.
SS&C is a global provider of investment and financial software-enabled services and software for the global financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut and has offices around the world. Some 18,000 financial services and healthcare organizations, from the world's largest institutions to local firms, manage and account for their investments using SS&C's products and services. For more information, visit www.ssctech.com.
ALPS Advisors, Inc., a wholly-owned subsidiary of SS&C Technologies, Inc., is a leading provider of investment products for advisors and institutions. With over $18.36 billion in assets under management as of September 30, 2022, the firm is an open architecture boutique investment manager offering portfolio building blocks, active insight, and an unwavering drive to guide clients to investment outcomes across sustainable income, thematic and alternative growth strategies. For more information, visit www.alpsfunds.com.
Principal Real Estate Investors manages or sub-advises $98.5 billion in commercial real estate assets, as of September 30, 2022. The firm's real estate capabilities include both public and private equity and debt investment alternatives. Principal Real Estate Investors is the dedicated real estate group of Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group®.
PRE000361 12/19/2023
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ST. LOUIS, Dec. 19, 2022 /PRNewswire/ -- Rapid Fire Safety & Security ("Rapid Fire"), a new multi-regional "Buy & Build" strategy in the fire safety and security industries launched by founders Mike McLeod and Colin Harrold in partnership with Concentric Equity Partners ("CEP"), announced the hiring of industry veteran Brian Modglin as Chief Operating Officer. Brian brings decades of experience in fire and life safety and a track record of success building and growing field operations, sales, and system design and installation teams.
Brian joins Rapid Fire after spending more than 25 years at Interface Systems, a managed services provider offering physical security, network, and business intelligence solutions to commercial customers. Brian began with Interface as a regional branch manager and quickly worked his way to the Vice President of the Midwest Region, responsible for all branch operations across Illinois and Indiana. More recently, Brian became the Executive Vice President of Field Operations at Interface in 2018 and has served the last five years as Interface's senior field operations leader. Brian worked alongside Rapid Fire CEO Mike McLeod for 18 years and brings a demonstrated history of leadership and knowledge to the Rapid Fire platform.
Brian's experience includes a myriad of successful enterprise level fire and security system implementations, the management and development of key relationships with Fortune 500 customers, and the leadership of multi-region branch networks, field technicians, and sales professionals. Brian has developed a substantial technical knowledge of fire and life safety systems during his career and has a strong knowledge base across fire alarm, intrusion, CCTV, and managed network technology.
"I have had the great pleasure of working with Brian for 18 years building a people-focused company" said Rapid Fire CEO Mike McLeod, "we are very fortunate to have Brian join our leadership team at the early stages of our exciting new journey". Colin Harrold, Co-Founder at Rapid Fire, said "The addition of Brian to the Rapid Fire executive team brings so many great things to our organization. I've had the pleasure of working side by side with Brian for 14 years, where over and above his respected industry skills & experience, he also brings with him, a genuine ' people caring' approach to leadership".
"Brian's senior operational, technical, and leadership expertise developed over decades of success in the field will be invaluable to growing and building the Rapid Fire platform" adds Adam Lucas of Concentric Equity Partners. "The ultimate success of Rapid Fire will be driven by the quality and capabilities of our senior leadership team, and Brian represents a key leader to help build into our next stage of growth".
Rapid Fire Safety & Security is a multi-regional fire safety and security provider that offers the commercial sector comprehensive expertise in life safety and security services. Our mission is to build relationships for life by anticipating ever-changing needs and exceeding the highest expectations. We are committed to delivering an excellent experience by putting people first and fostering teamwork and personal growth. When we excel in taking care of our team members, they excel in taking care of our customers.
For more information on Rapid Fire, visit www.rapidfiress.com.
Concentric Equity Partners is a private investment firm that partners with leading middle market companies by providing capital and strategic advisory to accelerate long term value creation. Concentric's approach is simple: support entrepreneurs and operators by providing the resources required to achieve extraordinary results. The firm's investment team is made up of individuals with distinguished track records as operators and professional investors across a variety of growth oriented middle market companies.
Concentric Equity Partners is the direct investing arm of Financial Investments Corporation, a private asset management firm and family office with over $2 billion in investment commitments under management. Financial Investments Corporation was founded in 1994 by father and daughter Harrison and Jennifer Steans and has been partnering with private companies for more than 25 years.
For more information on Concentric, visit www.ficcep.com.
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SOURCE Concentric Equity Partners | https://www.ktre.com/prnewswire/2022/12/19/rapid-fire-safety-amp-security-announces-hiring-brian-modglin-coo/ | 2022-12-19T23:11:57 | en | 0.95428 |
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NEW YORK, Dec. 19, 2022 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Argo Group International Holdings, Ltd. ("Argo" or the "Company") (NYSE: ARGO) and reminds investors of the December 20, 2022 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you suffered losses exceeding $100,000 investing in Argo stock or options between February 13, 2018 and August 9, 2022 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/ARGO.
There is no cost or obligation to you.
Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.
The complaint alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. Specifically, the lawsuit alleges that throughout the Class Period, Defendants touted that they closely monitored Argo's underwriting policies and had the ability to set appropriate reserves. Argo cultivated a narrative that it had a long history of successfully managing its reserves and that the Company had a "prudent reserving philosophy."
However, this narrative created by Argo was false and misleading. Argo's reserves were wholly inadequate, its underwriting standards were not prudent as represented, and Argo had dramatically changed its underwriting policies on certain U.S. construction contracts as far back as 2018. Further, these policies were underwritten outside of the Company's "core" business including in certain states and for certain exposures that were far riskier than investors understood and that the Company no longer would service moving forward.
The truth was partially disclosed on February 8, 2022, when Argo reported that its fourth quarter results for 2021 would be negatively impacted by $130 to $140 million worth of prior year reserve development and non-operating charges. The Company admitted that the largest reserve increases were related to construction defect claims within Argo's U.S. Operations, in addition to reserve increases in the Run-off segment. The Company also admitted that the prior year reserve increase for construction defect primarily related to the 2017 and prior underwriting years in business lines that had either been significantly remediated or discontinued.
When investors learned the truth about Argo's reserves and underwriting practices, the price of its common stock fell $7.11 per share (or 13.7%) in one day, dropping from a closing price of $51.87 per share on February 8, 2022 to close at $44.76 per share, on February 9, 2022. On February 10, 2022, the price of Argo's common stock declined to $42.82 per share, for a two-day drop of $9.05 per share (or 17.5%) wiping out over $315 million in market capitalization.
Just months later, on August 8, 2022, Argo again shocked its investors when it announced that it had entered into a Loss Portfolio Transfer agreement with a wholly owned subsidiary of Enstar Group Limited covering a majority of the company's U.S. casualty insurance reserves. On this news, the price of Argo's common stock declined $9.12 per share (or 28.3%) from an August 8, 2022 closing price of $32.22 to close at $23.10 per share on August 10, 2022. This drop caused the Company's market capitalization to fall another $320 million. Argo's stock price is down more than 60% this year, trading near its 52-week low.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Argo's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
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NEW YORK, Dec. 19, 2022 /PRNewswire/ --
If you own shares in any of the companies listed above and
would like to discuss our investigations or have any questions concerning
this notice or your rights or interests, please contact:
Joshua Rubin, Esq.
Weiss Law
305 Broadway, 7th Floor
New York, NY 10007
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
Weiss Law is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Coupa Software Incorporated (NASDAQ: COUP) in connection with the proposed acquisition of COUP by Thoma Bravo that includes a significant minority investment from a wholly owned subsidiary of the Abu Dhabi Investment Authority ("ADIA"). Under the terms of the merger agreement, COUP shareholders will receive $81.00 in cash for each share of COUP common stock owned. If you own COUP shares and wish to discuss this investigation or your rights, call us at one of the numbers listed above or visit our website: https://www.weisslaw.co/news-and-cases/coup
Weiss Law is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Horizon Therapeutics Public Limited Company (NASDAQ: HZNP) in connection with the proposed acquisition of HZNP by Amgen Inc. Under the terms of the merger agreement, HZNP shareholders will receive $116.50 in cash for each share of HZNP common stock owned. If you own HZNP shares and wish to discuss this investigation or your rights, please call us at one of the numbers listed above or visit our website: https://www.weisslaw.co/news-and-cases/hznp
Weiss Law is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of PSB Holding Corp. (OTC: PSBP) in connection with the proposed merger of PSBP with Summit Financial Group, Inc. ("Summit"). Under the merger agreement, PSBP shareholders will receive 1.2347 shares of Summit's common stock for each PSBP share, representing implied per-share consideration of $31.48 based upon Summit's 's December 16, 2022 closing price of $25.50. If you own PSBP shares and wish to discuss this investigation or your rights, please call us at one of the numbers listed above or visit our website: https://www.weisslaw.co/news-and-cases/psbp
Weiss Law is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Weber Inc (NYSE: WEBR) in connection with the proposed acquisition of WEBR by BDT Capital Partners LLC. Under the terms of the merger agreement, WEBR shareholders will receive $8.05 in cash for each share of WEBR common stock owned. If you own WEBR shares and wish to discuss this investigation or your rights, please call us at one of the numbers listed above or visit our website: https://www.weisslaw.co/news-and-cases/webr
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Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 In Silvergate To Contact Him Directly To Discuss Their Options
NEW YORK, Dec. 19, 2022 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Silvergate Capital Corporation ("Silvergate" or the "Company") (NYSE: SI) and reminds investors of the February 6, 2023 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you suffered losses exceeding $100,000 investing in Silvergate stock or options between November 9, 2021 and November 17, 2022 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/SI.
There is no cost or obligation to you.
Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company's platform lacked sufficient controls and procedures to detect instances of money laundering; (2) that Silvergate's customers had engaged in money laundering in amounts exceeding $425 million; (3) that, as a result of the foregoing, the Company was reasonably likely to receive regulatory scrutiny and face damages, including penalties and reputational harm; and (4) that, as a result of the foregoing, Defendant's positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
On November 15, 2022, Marcus Aurelius Research tweeted that "Recently subpoenaed Silvergate bank records reveal $425 million in transfers from $SI crypto bank accounts to South American money launderers. Affidavit from investigation into crypto crime ring linked to smugglers/drug traffickers."
On this news, the Company's Class A common stock price fell $6.13, or 17%, to close at $29.36 per share on November 15, 2022, on unusually heavy trading volume.
On November 17, 2022, The Bear Cave newsletter released an article about several companies with potential exposure to recently collapsed cryptocurrency exchange FTX, including Silvergate. The article highlighted the connection linking Silvergate to a money laundering operation that transferred $425 million off cryptocurrency trading platforms.
On this news, the Company's Class A common stock price fell $3.00, or 10.7%, to close at $24.90 per share on November 18, 2022, on unusually heavy trading volume.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Silvergate's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
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HONG KONG and GERMANTOWN, Md., Dec. 19, 2022 /PRNewswire/ -- Sirnaomics Ltd. (Stock Code: 2257 HK) and its affiliates and subsidiaries (collectively, "Sirnaomics"), a leading biopharmaceutical company in discovery and development of RNAi therapeutics, celebrated Sirnaomics' 15th anniversary of RNAi therapeutic innovation globally, along with the grand opening of the new headquarters and laboratories for its US subsidiary in Germantown, Maryland, on Dec. 15, 2022.
Sirnaomics USA's new facility is the site of the Company's U.S. headquarters and pre-clinical R&D center, and its recently incubated subsidiary RNAimmune, Inc., which specializes in the development of mRNA vaccine for infectious diseases. The new 50,375 square foot facility in the Seneca Meadows Corporate Center offers Sirnaomics USA ample space for current staff as well as for future expansion.
Sirnaomics USA celebration included participation by state and county representatives. Carla Meritt of Maryland Department of Commerce, Montgomery County Executive Marc Elrich and other representatives delivered congratulatory remarks and certificates to Sirnaomics.
Since 2007, Sirnaomics has been discovering and developing innovative drugs for indications with significant unmet medical needs in areas such as cancers, fibrosis diseases, viral infection, liver-metabolic diseases, and medical aesthetics. Sirnaomics is the first biopharmaceutical company to achieve positive Phase IIa clinical outcomes in oncology clinical-stage RNA therapeutics.
With nearly 200 staffers world-wide, including 80 in the U.S., Sirnaomics has established a significant presence, developing its own proprietary and novel delivery platforms. Backed by renowned institutional investors and industry players, Sirnaomics has raised close to US $340 million since its inception, and successfully listed an IPO in Hong Kong (2257.HK) in December 2021.
Sirnaomics is an RNA therapeutics biopharmaceutical company with product candidates in preclinical and clinical stages that focuses on the discovery and development of innovative drugs for indications with medical needs and large market opportunities. Sirnaomics is the first clinical-stage RNA therapeutics company to have a strong presence in both China and the United States, and also the first company to achieve positive Phase IIa clinical outcomes in oncology for an RNAi therapeutics for its core product, STP705. Learn more at www.sirnaomics.com.
Media contact: info@sirnaomics.com
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Mine Super outsources administration to SS&C
WINDSOR, Conn., Dec. 19, 2022 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced it had secured the Mine Superannuation Fund (Mine Super), which manages AUD 12 billion of funds on behalf of 55,000 members, as its first client to deliver superannuation administration services in Australia.
SS&C is the world's largest fund administrator and leading outsourcing provider. The agreement with Mine Super establishes the foundation for SS&C's new superannuation administration business for the APAC region. Mine Super brings a wealth of experience in superannuation administration to SS&C and will be central to SS&C expanding its superannuation offering in Australia.
SS&C's Head of Global Investor and Distribution Solutions, Nick Wright, said SS&C is pleased to work with Mine Super. "This agreement represents an alignment of strategies, allowing Mine Super to continue focusing on member-first outcomes through SS&C's modern, differentiated administration offering. The teams transferring to SS&C are pivotal to providing exceptional service for Mine Super's members and key to the growth of our BPO offering in Australia," he said.
Mine Super Chair Christina Langby said, "We are excited to be working with SS&C to provide our members with access to leading technology capabilities, which will allow us to deliver superior member outcomes. We look forward to working with SS&C to provide best in class member experiences."
Chief Executive Officer of Mine Super Vasyl Nair said, "Having worked with the SS&C team for a number of years, it became clear that their global expertise in BPO could be leveraged onshore. We're proud to externalise our administration to such a large and well-established business that will continue to enable Mine Super to deliver better value and service to our members."
Mine Super members will benefit from SS&C's continued investments in intelligent automation and digital technologies. The solution will deliver superior digital experiences for members, driving greater member engagement and stronger retirement outcomes.
Established in 1941, Mine Super is a 'superannuation' pension fund dedicated to serving the retirement needs of its members. Mine Super employs over 180 staff and manages approximately AUD 12 billion in funds for over 55,000 members.
SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 20,000 financial services and healthcare organizations, from the world's largest companies to small and mid-market firms, rely on SS&C for expertise, scale and technology.
Australia's superannuation industry has relied on SS&C's technology for more than 30 years to support funds under management approaching AUD $2.1 trillion per annum.
SOURCE: SS&C
Additional information about SS&C (Nasdaq: SSNC) is available at www.ssctech.com.
Follow SS&C on Twitter, LinkedIn and Facebook.
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SANTA ANA, Calif., Dec. 19, 2022 /PRNewswire/ -- VF Developments, LLC, a minority and female owned and run company, has reintroduced a historic 1920's built Spanish Villa style eight-unit multifamily community property to the revitalizing Downtown Santa Ana market in Orange County after completing major renovations.
VF Developments, LLC, in joint venture with a private investor in August 2020, acquired the Santa Ana multifamily property located at 1524-1530 North Sycamore Street, Santa Ana, California with the plan of repositioning and adding capital improvements to bring back its original 1920s glamour. Originally built in the "Roaring 20s" in 1929, VF Development's improvements included enhancements to exterior redesign to accentuate the Spanish revival style architecture. These improvements included new iron work, landscaping makeover, major roof renovation with authentic red clay barrel tile roof on the property, beautiful tiered fountain in the courtyard, newly painted white stucco and high contrasting expresso trim, completely restored and upgraded interior finishes, as well as new electrical and plumbing with central heating & cooling system.
Rancho Cucamonga based TriWest Contractors completed the stunning renovations for the ownership group and Los Angeles based Drake Real Estate Group will provide property management and leasing services.
1524-1530 North Sycamore Street, located in the heart of Santa Ana's historic Willard neighborhood features two side by side, four-unit, two-story low-rise buildings with Santa Barba style architecture. Residents of this gated community will enjoy a calming water fountain in the courtyard, private entryways to each unit, balconies, red tile roofs, and dedicated remote-controlled garage parking.
Anthony Garcia, owner of TriWest Contractors, noted, "Since the buildings were Santa Barbara style, an architectural and interior design style derived from Mediterranean and Spanish-revival architecture, we decided to enhance the deep red tones and polished wood textures that contrast with vibrant white walls."
Victoria Vu, a renowned designer and managing partner of VF Developments, LLC and formerly a leading Halloween costume designer, carefully designed and restored the rental homes. These 1920s vintage luxury rental homes feature keyless entry door locks to spacious one bedroom and two-bedroom floor plans with arched entry ways to newly renovated kitchen and bathrooms. The kitchen boasts sparkling white stone quartz countertops with brand new self-closing cabinetry and high-end Samsung stainless-steel refrigerators with matching gas cooktop with oven and microwave. Stacked washer and dryers included inside each rental home with porcelain tiled bathtubs and glass shower doors and separate guest bathrooms. Each rental home also includes central A/C cooling and heating with recessed lights with luxury style interior finishes and distressed wood plank floors.
Victoria Vu commented, "Since the property was built in 1929, our goal was to reimagine the original architect's intentions and upgrade the community to today's modern market by bringing back the life it had in the "Roaring 20s" or "Jazz Age" - it was a decade of prosperity and dissipation, and of jazz bands, bootleggers, raccoon coats, bathtub gin, flappers, flagpole sitters, bootleggers, and marathon dancers. We are also proud of this renovation as it's a prime example of the benefits of the Opportunity Zone program. All of our employees, vendors, and contractors are locally based minorities and women owned and run companies that came together to improve the buildings and the community and create jobs".
This building, located in a Qualified Opportunity Zone (QOZ), has major attributes that includes its proximity to the best of what Santa Ana has to offer. These include the Bowers Museum, Main Place Mall with city approved $300 million remodel planned, Orange County School of the Arts, The Discovery Cube of Santa Ana, The Santa Ana Zoo, and 4th Street Market. Minutes off the 5 Freeway on the 17th Street exit and nestled in the historic Willard area of Santa Ana and adjacent to French Park - an area known for its Victorian homes. The community is minutes to Downtown Santa Ana - the rapidly gentrifying area known for its eclectic eateries and elevated dining, fantastic night life, shopping and a host of other activities. Downtown Santa Ana, also called Downtown Orange County, is the historic city center of Santa Ana and the county seat of Orange County. It is the institutional center for the city of Santa Ana as well as Orange County, a retail and business hub, and has in recent years developed rapidly as a regional cultural, entertainment and culinary center for Orange County.
About VF Developments: VF Developments, minority and female owned and run company, has acquired over $69 million in multifamily properties since 2015 totaling 39 properties and 242 units. VF Developments strives to provide neighborhoods in gentrifying areas of Los Angeles and Orange County Class A building design finishes at accessible and affordable market rents to future tenants. VF prides itself with the opportunity to create modern living to add value to its communities. With properties ranging from condominiums to multifamily residences in gentrifying areas throughout the greater Los Angeles area and Orange County region. VF manages a multitude of processes including finding unique, off market opportunities, syndicating properties, overseeing renovations, and using unique architecture and interior compositions transforming distressed properties into contemporary, market-ready homes and apartment communities. VF seeks value add investment opportunities and creates significant value for clients and investors. VF Developments is an entrepreneurial company specializing in acquiring, renovating, and managing multifamily properties in Los Angeles and Orange Counties. The company targets under-performing and mismanaged multifamily properties in gentrifying areas of these counties. VF also completes significant renovations that modernize and transform dated properties into cutting edge, high quality, best in class living environments - ultimately creating substantial value enhancement for its investors.
Victoria V. Vu
Victoria_vfd@icloud.com
310.901.1189
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Pence to share insights on global and domestic realities ahead for North American businesses
WASHINGTON, Dec. 19, 2022 /PRNewswire/ -- The National Association of Wholesaler-Distributors (NAW), which is the voice of the 8.1 trillion-dollar wholesale distribution industry, and employs more than 5 million U.S. workers, announced today that Vice President Mike Pence will keynote Executive Summit 2023, the premier industry event for wholesale-distribution, January 31 – February 2, 2022, at the Fairmont, Washington, DC.
Vice President Pence will address North America's leading class of distributors and share his insights on the global and domestic realities ahead for North American businesses, the U.S. economy, the supply chain and more. NAW's Executive Summit is known in the industry as the most important and insightful event of the year; bringing together an incredible roster of distribution industry executives and service suppliers from all corners of the country to network, share best practices and innovate for the future.
"We could not be more honored to welcome Vice President Mike Pence to address distributors from across North America at Executive Summit 2023," said NAW CEO Eric Hoplin. "The Vice President's leadership has been felt throughout the business community and we are eager to hear his ideas and insights for the future advancement and prosperity of the country and to ensure that distributors can do what they do best and supply and support America," concluded Hoplin.
"Distributors are the heart of the American supply chain," said Vice President Mike Pence. "Thanks to the critical links and connections this industry makes possible, the goods and products needed to live and prosper in America make their way to communities and municipalities around the country. It is through distribution that towns and cities are built, homes are lit, families are fed, and the sick are supplied with life-saving medical products. We are thrilled to address leaders of this critical industry that keep the economy and the country moving," concluded Pence.
Each year, the Wholesale-Distribution Industry gathers in Washington, DC for NAW's Executive Summit to hear from top executives and thought leaders from across the industry on topics such as innovation, supply chain visibility, profitable growth strategies, regulation, the economy, branding, and the value in investing in a happy workforce.
NAW is one of America's leading trade associations, representing the $8.1 trillion wholesale distribution industry. Founded in 1946, NAW is comprised of national, regional, and state employers of all sizes, industry trade associations, partners, and stakeholders spanning all sectors of distribution. Our industry employs more than 5 million workers throughout the United States and accounts for 1/3 of the U.S. GDP. There are 35,000 wholesale distribution companies that operate in nearly 150,000 places of business across North America, including all 50 states.
NAW's mission is to deliver world-class programs and services, designed to help the most dynamic companies in wholesale distribution succeed. Our programming is tailored for the CEOs, senior executives, and rising leaders at our member companies and associations. Members engage with NAW through our offerings in: Thought Leadership, Networking, Executive Education, Benchmarking/Research, Shared Resourcing, Partnerships, Government Relations, and Public Affairs.
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HARTFORD, Conn., Dec. 19, 2022 /PRNewswire/ -- Virtus Artificial Intelligence & Technology Opportunities Fund (NYSE: AIO) previously announced the following monthly distribution on September 8, 2022:
Under the terms of its Managed Distribution Plan, the Fund will seek to maintain a consistent distribution level that may be paid, in part or in full, from net investment income and realized capital gains, or a combination thereof. Shareholders should note, however, that if the Fund's aggregate net investment income and net realized capital gains are less than the amount of the distribution level, the difference will be distributed from the Fund's assets and will constitute a return of the shareholder's capital. You should not draw any conclusions about the Fund's investment performance from the amount of this distribution or from the terms of the Fund's Managed Distribution Plan.
The Fund estimates that it has distributed more than its income and capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with 'yield' or 'income'.
The Fund provided this estimate of the sources of the distributions:
Information regarding the Fund's performance and distribution rates is set forth below. Please note that all performance figures are based on the Fund's NAV and not the market price of the Fund's shares. Performance figures are not meant to represent individual shareholder performance.
The amounts and sources of distributions reported in this notice are estimates only and are not being provided for tax reporting purposes. The actual amounts and sources of the distributions for tax purposes will depend on the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund or your broker will send you a Form 1099-DIV for the calendar year that will tell you what distributions to report for federal income tax purposes.
Virtus Artificial Intelligence & Technology Opportunities Fund is a diversified closed-end fund that seeks to provide total return through a combination of current income, current gains, and long-term capital appreciation. A multi-asset approach based on fundamental research is employed, dynamically allocating to attractive segments of a company's debt and equity in order to offer an attractive risk/reward profile. Virtus Investment Advisers, Inc. is the investment adviser to the Fund and Voya Investment Management is its subadviser.
For more information on the Fund, contact shareholder services at (866) 270-7788, by email at closedendfunds@virtus.com, or through the Closed-End Funds section of virtus.com.
An investment in a fund is subject to risk, including the risk of possible loss of principal. A fund's shares may be worth less upon their sale than what an investor paid for them. Shares of closed-end funds may trade at a premium or discount to their net asset value. For more information about the Fund's investment objective and risks, please see the Fund's annual report. A copy of the Fund's most recent annual report may be obtained free of charge by contacting "Shareholder Services" as set forth at the end of this press release.
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HARTFORD, Conn., Dec. 19, 2022 /PRNewswire/ -- Virtus Diversified Income & Convertible Fund (NYSE: ACV) previously announced the following monthly distribution on September 8, 2022:
Under the terms of its Managed Distribution Plan, the Fund will seek to maintain a consistent distribution level that may be paid in part or in full, from net investment income and realized capital gains, or a combination thereof. Shareholders should note, however, that if the Fund's aggregate net investment income and net realized capital gains are less than the amount of the distribution level, the difference will be distributed from the Fund's assets and will constitute a return of the shareholder's capital. You should not draw any conclusions about the Fund's investment performance from the amount of this distribution or from the terms of the Fund's Managed Distribution Plan.
The Fund provided this estimate of the sources of the distributions:
Information regarding the Fund's performance and distribution rates is set forth below. Please note that all performance figures are based on the Fund's NAV and not the market price of the Fund's shares. Performance figures are not meant to represent individual shareholder performance.
The amounts and sources of distributions reported in this notice are estimates only and are not being provided for tax reporting purposes. The actual amounts and sources of the distributions for tax purposes will depend on the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund or your broker will send you a Form 1099-DIV for the calendar year that will tell you what distributions to report for federal income tax purposes.
About the Fund
Virtus Diversified Income & Convertible Fund is a diversified closed-end fund that seeks to provide total return through a combination of current income and capital appreciation, while seeking to provide downside protection against capital loss. The Fund strives to dynamically allocate across convertibles, equities, and income-producing securities. The Fund normally invests at least 50% of total managed assets in convertibles and has the latitude to write covered call options on the stocks held in the equity portion. Virtus Investment Advisers, Inc. is the investment adviser to the Fund and Voya Investment Management is its subadviser.
For more information on the Fund, contact shareholder services at (866) 270-7788, by email at closedendfunds@virtus.com, or through the Closed-End Funds section of virtus.com.
Fund Risks
An investment in a fund is subject to risk, including the risk of possible loss of principal. A fund's shares may be worth less upon their sale than what an investor paid for them. Shares of closed-end funds may trade at a premium or discount to their net asset value. For more information about the Fund's investment objective and risks, please see the Fund's annual report. A copy of the Fund's most recent annual report may be obtained free of charge by contacting "Shareholder Services" as set forth at the end of this press release.
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Elon Musk Twitter poll ends with users seeking his departure
SAN FRANCISCO (AP) — Millions of Twitter users asked Elon Musk to step down as head of Twitter in a poll the billionaire created and promised to abide by. But by Monday afternoon there was no word from Musk on whether he’ll step aside or who a new leader might be. Twitter has grown more chaotic and confusing under Musk’s leadership with rapidly vacillating policies that are withdrawn or altered. Many of the votes for Musk to step down likely came from Tesla investors, who have grown tired of the 24/7 Twitter chaos, which they say has distracted the eccentric CEO from the electric car company, his main source of wealth.
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FTX founder agrees to extradition to US, attorney says
NEW YORK (AP) — Sam Bankman-Fried may be ready to come to the U.S. to face criminal charges related to the collapse of cryptocurrency exchange FTX following a chaotic court appearance in the Bahamas. A lawyer for Bankman-Fried was quoted as saying Monday that the disgraced FTX founder has agreed to be extradited to the United States. A court hearing was stopped earlier in the day when his attorneys said it was premature for him to stand before the court. Jerone Roberts, a local defense attorney for Bankman-Fried, told The New York Times that lawyers will prepare the necessary documents for extradition. It was not immediately clear when extradition could occur.
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EU accuses Meta of antitrust breaches with classified ads
BRUSSELS (AP) — The European Union has accused Facebook parent Meta of breaching the bloc’s antitrust rules by distorting competition in the online classified ads business. The bloc’s executive commission said Monday that it “takes issue” with the tech company tying its online classified ad business, Facebook Marketplace, to Facebook. The European Commission says that means Facebook users automatically have access to Marketplace “whether they want it or not.” The commission, the 27-nation bloc’s top antitrust enforcer, said Meta also imposes unfair trading conditions on competing online classified ad companies that advertise their services on Facebook or Instagram. Companies that breach EU antitrust rules can be hit with fines worth up to 10% of their annual global revenue.
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Christmas tree demand remains high despite inflation
SOUTH PORTLAND, Maine (AP) — Americans are cutting back on spending in some areas this holiday season. But they’re not scrimping on Christmas trees. Retailers from Home Depot and Lowes to mom and pop operations raised their prices — but people are still buying them. The National Christmas Tree Association projects that nearly 21 million live Christmas trees will be sold by the time consumers wrap up purchases over the days leading up to Christmas Day.
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Fortnite maker to pay $520M for privacy, e-commerce abuses
WASHINGTON (AP) — The maker of the popular Fortnite video game will pay $520 million in penalties and refunds to settle complaints revolving around children’s privacy and its payment methods that tricked players into making unintended purchases. The Federal Trade Commission reached the settlements to resolve two cases against Epic Games Inc., which has parlayed Fortnite’s success in the past five years to become a video game powerhouse. The settlement consists of $245 million in customer refunds and a $275 million fine for collecting personal information on Fortnite players under the age of 13 without parental consent. It’s the biggest penalty ever imposed for breaking an FTC rule.
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Wall Street loses more ground, extending a losing streak
NEW YORK (AP) — Stocks closed lower on Wall Street as investors brace for higher interest rates from central banks to fight inflation. The S&P 500 lost 0.9% Monday, the tech-heavy Nasdaq composite lost 1.5% and the Dow Jones Industrial Average fell 0.5%. Major indexes are coming off two weeks of losses. Facebook’s parent company sank after the European Union accused the company of breaching antitrust rules by distorting competition in online classified ads. Treasury yields moved higher and crude oil prices rose. Investors are awaiting several key economic reports this week on the housing market and consumer spending.
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Not just for kids: Toymakers aim more products at grown-ups
NEW YORK (AP) — Long before the pandemic, many adults turned to toys from Legos to collectible items to tap into their inner childhood for comfort. But all the stresses from the health crisis, which forced many people to isolate for months, accelerated the trend, Industry experts and toy makers from Mattel’s American Girl and Build-a-Bear see the behavior as long-lasting and are creating new products, services and websites aimed for the adult audience. Starting early this year, Mattel’s American Girl Cafe added more more adult fare like beet and goat cheese salads and cocktails like apple spritzes and Bloody Mary’s. Last year, Build-a-Bear launched a site called Bear Cave aimed at the 18-year-old and older.
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Third air bag death confirmed, owners urged to get repairs
DETROIT (AP) — Stellantis and U.S. safety regulators have confirmed that an exploding Takata air bag inflator has killed another driver. The company and the National Highway Traffic Safety Administration reiterated warnings to owners of 274,000 older Dodge and Chrysler vehicles to stop driving them until faulty inflators are replaced. Stellantis announced two deaths in November caused by the air bags and said it suspected an inflator caused another. The company formerly known as Fiat Chrysler confirmed the third death early Monday. Stellantis is urging people to stop driving Dodge Magnum wagons, Dodge Challenger and Charger muscle cars and Chrysler 300 sedans from the 2005 through 2010 model years. Since 2009, the exploding air bags have killed at least 33 people worldwide.
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The S&P 500 dropped 34.70 points, or 0.9%, to 3,817.66. The Dow Jones Industrial Average lost 162.92 points, or 0.5%, to 32,757.54. The Nasdaq tumbled 159.38 points, or 1.5%, to 10,546.03. The Russell 2000 index of smaller companies fell 24.84 points, or 1.4%, to 1,738.58. | https://www.expressnews.com/business/article/Business-Highlights-Musk-s-Twitter-exit-poll-17665069.php | 2022-12-19T23:14:44 | en | 0.948937 |
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LOS ANGELES (AP) — Jurors reached a verdict Monday at the Los Angeles rape and sexual assault trial of Harvey Weinstein.
Weinstein and lawyers for both sides are headed to the courtroom, where the verdict will be read.
Jurors got the case Dec. 2 and deliberated for nine days over a span of more than two weeks. After a monthlong trial, they had to make decisions on two rape counts and five other sexual assault counts against the 70-year-old former movie mogul.
The allegations involved four women and dated from 2005 to 2013.
If convicted on all counts, Weinstein could get a sentence of 60 years to life in prison.
Whatever the result, he won't be walking free. He still has more than 20 years left on a New York prison sentence after a rape and sexual assault conviction there.
Prosecutors urged jurors to believe the accounts of the four women, each of whom gave dramatic and emotional testimony about the allegations.
Weinstein's attorneys emphasized the shortage of physical evidence in the case, and asked jurors to set aside the emotional impact of the testimony to focus on the changes several of the women's stories had gone through in their conversations with authorities.
Weinstein pleaded not guilty and denied engaging in any non-consensual sex.
The trial came just after the fifth anniversary of the blockbuster stories about Weinstein that made him a lightning rod for the #MeToo movement.
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Follow AP Entertainment Writer Andrew Dalton on Twitter: https://twitter.com/andyjamesdalton
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For more on the Harvey Weinstein trial, visit: https://apnews.com/hub/harvey-weinstein | https://www.expressnews.com/entertainment/article/Verdict-reached-at-Harvey-Weinstein-s-2nd-rape-17665185.php | 2022-12-19T23:14:51 | en | 0.946833 |
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WASHINGTON (AP) — Supreme Court temporarily blocks order ending asylum restrictions, leaves open prospect for lifting them by Wednesday.
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WASHINGTON (AP) — The White House's Truman balcony. Staying in on Friday nights. Being first to say “I love you.”
President Joe Biden is married to a longtime teacher but he came up short on a five-question pop quiz about her. He guessed just three correct answers about first lady Jill Biden during a joint interview with talk-show host Drew Barrymore that aired Monday.
“The Final Five” is a game that Barrymore plays with her guests and said is her favorite. In a special White House edition of the game, the first lady knew the questions “so the question is, is Mr. President going to get the answers correct?" Barrymore said on the broadcast.
Biden was correct in guessing that the Truman balcony, which is part of the private residence, is his wife's favorite place in the White House, that she'd now prefer to stay in on a free Friday night and that he was the first one in their relationship to say “I love you.”
“Oh, that's easy. Me. I said it first,” Biden said. “I said it first, second, third, fourth, fifth, sixth, seventh, eighth, ninth, tenth.” She agreed to marry him after his fifth ask.
But he flunked on questions about what the longtime community college professor snacks on from the White House kitchen when she's starving and wants to be naughty, and the habit of his that she'd like to change.
“Probably something with avocado in it,” the president answered. French fries was the correct answer.
He said he thought she'd want him to “not talk to everybody I see” but the first lady said her husband of 45 years “leaves his reading light on at night” and she'd like him to start a new habit by turning it off.
The Bidens taped the interview on Dec. 9, according to the White House. Asked if the president is a good “gift giver," the first lady confirmed that he is.
“One thing that Joe gives me every year is a poem,” she said. “He has a book that he bought for me and every year he writes a poem.”
For a birthday, he gave her a rose garden. “A full rose garden. I loved that gift,” she said.
Biden said he feels good about her Christmas present this year, but obviously couldn't reveal what it is.
“He pretty much gets it right,” Jill Biden said. | https://www.expressnews.com/news/article/Biden-comes-up-short-on-guessing-game-about-his-17665084.php | 2022-12-19T23:15:03 | en | 0.987722 |
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NEW YORK (AP) — At a small patch of Central Park flanking the city's Harlem neighborhood, scores came Monday to remember the injustice that imprisoned five Black and Latino teenagers after they were wrongly accused and convicted of the 1989 rape of a white jogger.
They arrived in the chill of a late fall morning, some singing hymns, to dedicate a park entry to the men once known as the Central Park Five, but now remembered as the Exonerated Five.
The entryway, located on the northern perimeter of the park between Fifth Avenue and Malcolm X Boulevard, will be known as the “Gate of the Exonerated." It commemorates the miscarriage of justice that not only befell the five men, organizers say, but the unknown others who might have been wrongly imprisoned.
"This is a moment. This is legacy time,” said one of the men, Yusef Salaam.
“We are here because we persevere,” he said to a cheering crowd.
Monday was the first time Raymond Santana, another of the men, now deep in his 40s, has returned to Central Park since that fateful day 33 years ago.
“We were babies, who had no dealing with the law. Never knew what Miranda was,” said Santana, as he recounted a time of confusion when police rustled him up and began interrogating him.
Santana was 14 and Salaam was 16 when they and three others — Kevin Richardson, 14; Korey Wise, 16; and Antron McCray, 15 — were wrongly tried for the rape of a 28-year-old woman, whose brutal attack left with her with permanent injuries and no memory of the assault. The high-profile incident prompted police to round up Black and Brown men and boys in connection with the rape.
Matias Reyes, a murderer and serial rapist already in prison, would later confess to the crime.
Soon after, the convictions of the Central Park Five were thrown out in 2002 after the men served six to 13 years in prison.
“It needs to be known what we went through. We went to hell and back," said Richardson. “We have these scars that nobody sees.”
The three men — Wise and McCray could not attend — spoke about how the criminal justice system is stacked against people of color.
The gate, they said, would stand as reminder of the injustice of the past but also of those still being committed today.
“This is an important time right here — the Gate of the Exonerated, this is for everybody,” Richardson said. “Everybody that’s been wronged by cops.”
The modest remembrance — words etched in stone on a waist-high wall — was years in the making.
Other entrances to the park have been labeled to reflect groups of people who live and work in the city, with names like Artisans’ Gate, Scholars’ Gate and Strangers’ Gate.
Mayor Eric Adams, who was just starting his career as a New York City police officer during the 1989 incident, arrived to the ceremony to pay tribute to the men.
“To these soldiers here, you personify the black male experience,” the mayor said, addressing the men.
Alvin Bragg, who now leads the Manhattan District Attorney's Office, apologized for the men's ordeal.
“The truth is we shouldn’t be here today," he said, alluding to past mistakes. | https://www.expressnews.com/news/article/Central-Park-entry-gate-commemorates-the-17665055.php | 2022-12-19T23:15:09 | en | 0.981731 |
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Caring for sick children has become extra stressful recently for many U.S. parents due to shortages of Children’s Tylenol and other medicines.
Doctors and other experts say the problem could persist through the winter cold-and-flu season but should not last as long as other recent shortages of baby formula or prescription drugs.
They also say parents have alternatives if they encounter empty store shelves.
Here’s a closer look:
WHAT’S HAPPENING
An unusually fast start to the annual U.S. flu season, plus a spike in other respiratory illnesses, created a surge in demand for fever relievers and other products people can buy without a prescription.
“There are more sick kids at this time of year than we have seen in the past couple years,” said Dr. Shannon Dillon, a pediatrician at Riley Children’s Health in Indianapolis.
Experts say that’s the main factor behind the shortages, which vary around the country and even within communities.
“At this point, it’s more like toilet paper at the beginning of the (COVID-19) pandemic,” Dillon said “You just have to look in the right place at the right time.”
Drugmaker Johnson & Johnson says it is not experiencing widespread shortages of Children’s Tylenol, but the product may be “less readily available” at some stores. The company said it is running its production lines around the clock.
In the meantime, CVS Health has placed a two-product limit on all children’s pain relief products bought through its pharmacies or online.
Walgreens is limiting customers online to six purchases of children’s over-the-counter fever reducing products. That limit doesn’t apply in stores.
Aside from over-the-counter products, the prescription antibiotic amoxicillin also is in short supply due to increased demand, according to the Food and Drug Administration. The drug is often used to treat nose and throat infections in children.
WHAT TO DO
Check first for alternatives in the store if some products aren’t available. Generic versions of brand-name products are “perfectly safe and often a much more affordable option,” Dillon said.
Other stores nearby also may have better options. Manufacturers say there are no widespread national shortages of these medications, according to the Consumer Healthcare Products Association.
A family doctor may know which stores have decent supplies.
A doctor also may be able to tell parents whether they can try alternatives like crushing the proper dose of a pill version and mixing it with food or chocolate syrup. Doctors say parents or caregivers should not try this on their own, because determining proper doses for children can be tricky.
“You don’t need to experiment at home,” said Dr. Sarah Nosal, a South Bronx family physician. “Your family doctor wants to talk to you and see you.”
GOING WITHOUT
Doctors also caution that fevers don’t always have to be treated. They are a body’s natural defense against infection, and they make it hard for a virus to replicate.
Dillon noted, for instance, that a fever may not be intrinsically harmful to older children. However, parents should take a newborn under 2 months old to the doctor if the child has a fever of 100.4 degrees or more. And doctors say any child with a fever should be monitored for behavior changes.
Instead of medicine, consider giving the child a bath in lukewarm water. Cold water makes the body shiver, which can actually raise the temperature.
Put fans in the child’s room or set up a cool mist humidifier to help their lungs.
Nosal also said two teaspoons of honey can help control coughs in children older than a year. Avoid using honey for young children because it carries a risk of infant botulism.
WHEN WILL SUPPLIES GET BETTER?
Shortages might last in some communities until early next year.
Resolving them can depend on whether there are enough workers at warehouses and stores to deliver the product and stock the shelves, noted Erin Fox. She researches drug shortages and is the senior pharmacy director at University of Utah Health, which runs five hospitals.
Fox said there are no problems at factories or a lack of ingredients contributing to current shortages. Those obstacles can lead to long supply disruptions.
“I don’t expect this to last a year or more like some of our other shortages do,” she said.
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AP Health Writer Matthew Perrone in Washington contributed to this story. Murphy reported from Indianapolis. | https://www.expressnews.com/news/article/Children-s-medicine-shortage-hits-as-flu-season-17665089.php | 2022-12-19T23:15:16 | en | 0.954293 |
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