NEW YORK, Nov. 23, 2020 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, announces that a class action lawsuit has been filed in the United States District Court for the Northern District of Texas on behalf of investors that purchased (a) Berry Corporation (Nasdaq: BRY) common stock pursuant and/or traceable to the Company’s initial public offering conducted on or about July 26, 2018 (the “IPO” or “Offering”); or (b) Berry securities between July 26, 2018 and November 3, 2020 (the “Class Period”). Investors have until January 21, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit. Click here to participate in the action.On June 29, 2018, the Company filed its Registration Statement on Form S-l for the IPO, which, after an amendment, was declared effective by the SEC on July 25, 2018 (the “Registration Statement”). On or around July 26, 2018, Berry conducted the IPO, upon which the Company began trading on the NASDAQ Global Select market (“NASDAQ”), issuing 13 million shares of Berry common stock at $14 per share, generating over $138 million in proceeds before expenses. On July 27, 2018 Berry filed its Prospectus on Form 424B4 with the SEC (the “Prospectus” and, collectively with the Registration Statement, the “Offering Documents”).On November 3, 2020, Berry reported its financial and operating results for the third quarter of 2020. Among other results, Berry reported non-GAAP EPS and revenue that both fell short of estimates. In addition, Berry reported that during the quarter, “the Company undertook certain operational improvements that caused temporary reductions in our production. Notably, we performed some plugging and abandonment activity that resulted in the temporary shut-in of nearby wells. Additionally, improved steam management reduced overall costs but temporarily increased water disposal and well maintenance needs, resulting in a slight decrease in production.”On this news, the Company’s stock price fell $0.15 per share, or 5.28%, to close at $2.69 per share on November 4, 2020, representing an 80.78% decline from the IPO price.The complaint, filed on November 20, 2020, alleges that the Offering Documents were negligently prepared, and, as a result, contained untrue statements of material fact, omitted material facts necessary to make the statements contained therein not misleading, and failed to make necessary disclosures required under the rules and regulations governing their preparation. Additionally, throughout the Class Period, defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, the Offering Documents and defendants made false and/or misleading statements and/or failed to disclose that: (i) Berry had materially overstated its operational efficiency and stability; (ii) Berry’s operational inefficiency and instability would foreseeably necessitate operational improvements that would disrupt the Company’s productivity and increase costs; (iii) the foregoing would foreseeably negatively impact the Company's revenues; and (iv) as a result, the Offering Documents and the Company’s public statements were materially false and/or misleading and failed to state information required to be stated therein.If you purchased Berry common stock pursuant and/or traceable to the IPO or Berry securities during the Class Period and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at firstname.lastname@example.org, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.About Bragar Eagel & Squire, P.C.: Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.Contact Information: Bragar Eagel & Squire, P.C. Brandon Walker, Esq. Melissa Fortunato, Esq. Marion Passmore, Esq. (212) 355-4648 email@example.com www.bespc.com
NEW YORK, Nov. 23, 2020 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, announces that a class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of investors that purchased Pinterest, Inc. (NYSE: PINS) common stock between May 16, 2019 and November 1, 2019 (the “Class Period”). Investors have until January 22, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit. Click here to participate in the action.On October 31, 2019, the Company announced its financial results for the quarter ended September 30, 2019. The Company reported disappointing financial results, including 8% growth in the U.S. MAUs year over year, reaching 87 million, only 8 million more than the same period of the previous year. Pinterest also missed its consensus projections and reported lower than expected U.S. advertising revenue. The Company only marginally increased its full year 2019 guidance, implying further deceleration in the future quarters.On this news, the price of the Company’s shares steeply declined by 17%, to close at $20.86 on November 1, 2019.The Complaint, filed on November 23, 2020, alleges that Pinterest made false and misleading statements to the public throughout the Class Period and failed to disclose that: (i) the Company’s addressable market in the U.S. was reaching its maximum capacity; (ii) which significantly decelerated Pinterest’s future ability to monetize on U.S. average revenue per user; (iii) Pinterest was at an increased risk of losing advertising revenue; (iv) and as a result, defendants’ public statements were materially false and misleading at all relevant times or lacked a reasonable basis and omitted material facts.If you purchased Pinterest common stock during the Class Period and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at firstname.lastname@example.org, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.About Bragar Eagel & Squire, P.C.: Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.Contact Information: Bragar Eagel & Squire, P.C. Brandon Walker, Esq. Melissa Fortunato, Esq. Marion Passmore, Esq. (212) 355-4648 email@example.com www.bespc.com
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The Bearing Isolators Market will grow by USD 87.63 mn during 2020-2024
One sunny day, Tehran's mayor and foreign diplomats rode bicycles through the Iranian capital to promote cycling -- no mean feat in a city of steep roads, heavy traffic and toxic fumes.
The legendary England batsman has dished the dirt on the "only time" he's been out-sledged on a cricket pitch.
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(Bloomberg) -- U.S. equity futures and most Asian stocks climbed Tuesday after the triggering of a formal transition process to President-elect Joe Biden. The dollar dipped.S&P 500 contracts advanced after the General Services Administration acknowledged Biden as the apparent winner of the presidential election. Stocks outperformed in Japan and Australia. They also rose in South Korea and were little changed in Hong Kong and China.Earlier, U.S. equities closed in the green, with tech shares lagging and small caps jumping. AstraZeneca Plc became the latest firm to deliver positive vaccine news, bolstering demand for cruise-line operators and airlines. Treasury yields extended an advance, gold added to overnight losses and oil fluctuated.Sentiment also was boosted after people familiar with the matter said Biden plans to nominate former Federal Reserve Chair Janet Yellen to be Treasury Secretary. Chinese shares were steady after a report that senior Trump administration officials are pushing for new hard-line measures against Beijing.The General Services Administration’s acknowledgment reduces political uncertainty in the U.S., giving Biden and his team access to current agency officials, briefing books, some $6 million in funding and other government resources.Markets had already been buoyed by the latest vaccine successes and data showing U.S. business activity powered ahead in November at the fastest pace since March 2015. Investors have snapped up assets that could benefit from the end of lockdowns, even as the virus rages across the U.S. and Europe. Traders have also started to anticipate Congress will again deliver a spending bill to stave off the economic effects of new restrictions aimed at slowing the pathogen.“Having that end date on the calendar, with what looks like possibly three effective vaccines defines the bottom,” Brent Schutte, Northwestern Mutual Wealth Management Chief Investment Strategist, said on Bloomberg TV. “I think investors will come in and buy the dip, and I do think you will continue to have the rotation to those value names, small-cap names, things that are leveraged to the economic cycle.”Here are some key events coming up:Minutes of the most recent Federal Open Market Committee meeting are due Wednesday.U.S. jobless claims, GDP and personal spending data come Wednesday.U.K. expected on Wednesday to deliver the government’s spending plans for next year.Thursday sees a policy decision and briefing from the Bank of Korea.U.S. celebrates the Thanksgiving holiday on Thursday.The week ends with Black Friday, the traditional start of the U.S. holiday shopping season.These are the main moves in markets:StocksS&P 500 futures rose 0.5% as of 10:38 a.m. in Tokyo. The S&P 500 Index climbed 0.6%.Topix index rose 2.2%.Australia’s S&P/ASX 200 Index gained 1.1%.Kospi index added 0.6%.Hang Seng Index fell 0.1%.Shanghai Composite Index fell 0.3%.Euro Stoxx 50 futures gained 0.5%.CurrenciesThe yen traded at 104.57 per dollar.The Bloomberg Dollar Spot Index dipped 0.1%.The offshore yuan was at 6.5746 per dollar, up 0.1%.The euro traded at $1.1841.BondsThe yield on 10-year Treasuries rose about one basis point to 0.87%.Australia’s 10-year bond yield rose five basis points to 0.90%.CommoditiesWest Texas Intermediate crude was little changed at $43.05 a barrel.Gold was dipped 0.6% to $1,827.19 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
A posthumous legal challenge to overturn the conviction of the Lockerbie bomber Abdelbaset Mohmet Al-Megrahi is due to begin in Scotland on Tuesday.
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(Bloomberg) -- An increasingly popular fundraising tool in China is offering a potential lifeline for cash-strapped companies, as a string of high profile defaults tightens scrutiny of the country’s credit market.Private share placements are booming after rules were relaxed in February, helping revive that form of equity financing. This year has seen 151 deals raise 321 billion yuan ($49 billion) as of Monday, the most since 2017, according to data compiled by Bloomberg. Private offerings have surpassed other equity-linked fundraising tools like public placements, rights issues and convertible bonds in volume. More than 500 private placements are in the pipeline, seeking to raise at least 709 billion yuan.Such deals could offer financing alternatives for some companies amid concern over the health of distressed state-linked firms. China’s credit market has been roiled in recent weeks, triggering a selloff in bonds issued by weaker borrowers and prompting some to cancel debt sales. Notes issued by Pingdingshan Tianan Coal Mining Co. and Jizhong Energy Group Co. were among the most notable losers.“Defaults in the credit market may encourage lower-rated companies struggling to sell bonds to instead tap the equity market for financing,” said Alexander Yao, general manager at Roadshow Investment Co. in Beijing. His firm’s private-placement investment fund has gained 48% since inception in March, according to tracker Shenzhen PaiPaiWang Investment & Management Co.Xiamen Unigroup Xue Co., a subsidiary of troubled Tsinghua Unigroup Co., rose as much as 6.6% on Nov. 3 after it said the China Securities Regulatory Commission told it to prepare for a hearing on its application for a private share placement of as much as 963 million yuan. Chongqing Lummy Pharmaceutical Co. jumped nearly 13% on Nov. 12 after receiving approval from the Shenzhen Stock Exchange for a roughly 1.1 billion yuan placement.More firms are joining the queue. Among them, Offcn Education Technology Co. plans to raise up to 6 billion yuan to fund a construction project and replenish working capital, according to a stock exchange filing late Monday. Such offerings allow listed companies to sell new shares at a discount to a group of investors, with the proceeds typically used for investment projects, debt repayment and replenishment of working capital. Companies like the structure because the sales’ private nature provide firms with greater freedom in setting prices and selecting investors. The discounts versus prevailing market prices appeal to money managers.Private placements were a preferred tool for listed companies to sell additional shares, before regulatory concerns about a flood of new equity weighing on the nation’s stock market led to a crackdown in 2017. Regulators relaxed the rules in February to help increase corporate access to equity financing, as Beijing sought to cushion the impact of the pandemic on China’s slowing economy.At that time, the CSRC doubled the allowable maximum discount to 20% for placement shares, shortened the lock-up period to no less than six months from 12, and expanded the maximum number of investors to 35 for each placement. Previously, companies were restricted to 10 investors, while those listed on the ChiNext board could have only five.Since those changes, the average return after the six-month lock-up period for the deals has improved to 29% from 25% last year, according to data compiled by Bloomberg.To be sure, the booming private-share placement market doesn’t mean China’s vast number of cash-strapped companies can all find financing. The method is only possible for listed firms, and investors confronted with a growing supply of additional shares will likely be increasingly selective when it comes to companies with heavy debt burdens -- despite big discounts offered by issuers.“It will definitely be a big positive if these cash-strapped companies can raise money from the equity market,” said Chen Yicong, managing director at Beijing Chengyang Asset Management Ltd. “But it’s not certain whether companies viewed as problematic can attract enough investor demand.”(Updated notable bond losers in third paragraph and new offering plans in sixth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
On Tuesday, Victoria had no active coronavirus cases for the first time since February 29 to end its second wave.
Investors have been enjoying a broad-based rally on the ASX, which rose more than one per cent after more claims of progress towards a coronavirus vaccine.
SAN DIEGO, Nov. 23, 2020 (GLOBE NEWSWIRE) -- Beam Global, (Nasdaq: BEEM, BEEMW) (“Beam” or “the Company”), a provider of innovative sustainable technology for electric vehicle (“EV”) charging, outdoor media and energy security, today announced that it has entered into an underwriting agreement with Maxim Group LLC under which the underwriter has agreed to purchase, on a firm commitment basis, 250,000 shares of common stock of the Company, at a price to the public of $30.00 per share, less underwriting discounts and commissions. The gross proceeds from the public offering will be approximately $7.5 million, before deducting underwriting discounts and commissions and estimated offering expenses. Maxim Group LLC is acting as the sole manager for the offering.The closing of the offering is expected to occur on or about November 27, 2020, subject to satisfaction of customary closing conditions.The offering is being made pursuant to an effective shelf registration statement on Form S-3 that was filed with the U.S. Securities and Exchange Commission (the “SEC”) on May 26, 2020 and declared effective on June 4, 2020. A prospectus supplement will be filed with the SEC and will form a part of the effective registration statement. Copies of the final prospectus supplement and accompanying prospectus relating to the public offering may be obtained, when available, by contacting Maxim Group LLC, 405 Lexington Avenue, 2nd Floor, New York, NY 10174, or by telephone at (212) 895-3745.This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.About Beam GlobalBeam Global is a Cleantech company that produces innovative, sustainable technology for electric vehicle (EV) charging, outdoor media, and energy security, without the construction, disruption, risks and costs of grid-tied solutions. Products include the patented EV ARC™ and Solar Tree® lines with BeamTrak™ patented solar tracking, and ARC Technology™ energy storage, along with EV charging, outdoor media and disaster preparedness packages.The company develops, patents, designs, engineers and manufactures unique and advanced renewably energized products that save customers time and money, help the environment, empower communities and keep people moving. Based in San Diego, the company produces Made in America products. Beam Global is listed on Nasdaq under the symbols BEEM and BEEMW (formerly Envision Solar, EVSI, EVSIW). For more information visit https://BeamForAll.com/, LinkedIn, YouTube and Twitter.Forward-Looking InformationThis Beam Global Press Release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the proposed public offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed or as to the actual size or terms of the offering. These forward-looking statements also are subject to risks, uncertainties and assumptions, including those detailed from time to time in the company’s filings with the SEC, and represent the company’s views only as of the date they are made and should not be relied upon as representing the company’s views as of any subsequent date.Media Contacts: The Bulleit Group BeamGlobal@BulleitGroup.com +1 415-742-1894Investor Relations: Kathy McDermott IR@BeamForAll.com +1 858-799-4583
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Shares of Japan's ANA Holdings Inc on Tuesday sank as much as 4.2% after sources said the country's biggest airline plans to raise about 200 billion yen ($1.9 billion) by selling new shares to bolster its balance sheet. ANA Holdings will hold its first share sale since 2012, Reuters reported on Saturday, citing two sources who declined to be identified because the information was not public. Airlines around the globe are struggling to ride out a pandemic that has cast a dark shadow across the global travel industry.