Foreign Collusion, Naked Shorting (Counterfeiting) & Money Laundering — All Illicit Wealth
3 April 2020
The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Luckin Coffee Inc. (“Luckin” or “the Company”) (NASDAQ: LK) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
RM LAW Announces Class Action Lawsuit Against HF Foods Group Inc.
3 April 2020
RM LAW, P.C. announces that a class action lawsuit has been filed on behalf of all persons or entities that purchased HF Foods Group Inc. (“HF Foods” or the “Company”) (NASDAQ:HFFG) securities during the period from August 23, 2018 through March 23, 2020, inclusive (the “Class Period”).
Why Wendy’s Stock Crashed Today
Anders Bylund, 02 April 2020
Shares of fast-food chain Wendy’s (NASDAQ:WEN) fell as much as 8.6% on Thursday even though the market trended upward in general. Noted short-seller Jim Chanos appeared on CNBC in the morning and said that he still expects several food-service stocks (including Wendy’s) to continue falling. After mounting a partial recovery, the stock closed Thursday’s trading 4.4% lower.
The founder of short-selling investment firm Kynikos Associates appeared on CNBC’s Halftime Report, where he said that the firm still is short-selling restaurant stocks such as Wendy’s, Burger King parent Restaurant Brands (NYSE:QSR), and Dunkin’ Brands (NASDAQ:DNKN). Restaurant Brands shares fell as much as 5.4% today, and Dunkin bottomed out at a drop of 8.2%.
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BIONANO GENOMICS ANNOUNCES PRICING OF $18 MILLION UNDERWRITTEN PUBLIC OFFERING
GLOBE NEWSWIRE, 02 April 2020
BIONANO GENOMICS, INC. (BNGO), a genome analysis company that provides tools and services based on its Saphyr® system to scientists and clinicians conducting genetic research and patient testing, today announced the pricing of an underwritten public offering of 54,546,000 shares of its common stock (or pre-funded warrants to purchase common stock in lieu thereof) and common warrants to purchase up to an aggregate of 54,546,000 shares of common stock. Each share of common stock and, as applicable, each pre-funded warrant is being sold together with a common warrant to purchase one share of common stock at a combined effective price to the public of $0.33 per share and accompanying common warrant. For each pre-funded warrant Bionano sells, the number of shares of common stock Bionano is offering will be decreased on a one-for-one basis. Continue reading “Article: BIONANO GENOMICS ANNOUNCES PRICING OF $18 MILLION UNDERWRITTEN PUBLIC OFFERING”
1 April 2020
In November 2019, Canaan completed its initial public offering (“IPO”), selling 10 million American Depositary Shares (“ADSs”) priced at $9.00 per share. Then, on February 20, 2020, an investment analyst publishing under the pseudonym Marcus Aurelius published a short report entitled “Canaan Fodder.” The report alleged, among other things, that Canaan was engaged in several undisclosed related-party transactions that lacked economic substance, including the sale of $150 million worth of equipment to a small Hong Kong company with an undisclosed relationship with a significant Canaan shareholder.
1 April 2020
Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Mesa Air Group, Inc. (NASDAQ: MESA) on behalf of Mesa stockholders. Our investigation concerns whether Mesa has violated the federal securities laws and/or engaged in other unlawful business practices.
Short Sales Bans in Response to the COVID-19 Pandemic
Barnabas Reynolds, Thomas Donegan, Russell Sacks
Shearman & Sterling, 1 April 2020
In the wake of the COVID-19 pandemic, numerous European jurisdictions, including France, Italy, Spain, Greece and Belgium have enacted short sale bans in an attempt to stabilize financial markets and maintain investor confidence. The following note provides an overview of these bans as well as an overview of the 2008 partial ban(s) on short selling by the U.S. in response to the financial crisis. To date, the United States has not yet indicated that it is considering a ban on short selling in response to market volatility due to the COVID-19 pandemic.
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THE DOLLAR HAS NO INTRINSIC VALUE : DO YOUR ASSETS?
