Category: Publications

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Article: Mondelez, Kraft To Pay $16M To Resolve Allegations Of Futures Market Manipulation

Article - Media, Publications

Mondelez, Kraft To Pay $16M To Resolve Allegations Of Futures Market Manipulation

Jayson Derrick, 06 March 2020

Food giants Mondelez International Inc MDLZ 0.07% and Kraft Food Groups will pay $16 million to settle allegations they created unfair advantages in wheat futures, The Wall Street Journal reported.

The Mondelez, Kraft Settlement
Mondelez and Kraft were once part of a single corporate entity, and they and appear to be set on resolving a dispute with the Commodity Futures Trading Commission, the newspaper reported Thursday. Continue reading “Article: Mondelez, Kraft To Pay $16M To Resolve Allegations Of Futures Market Manipulation”

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Article: Medici Ventures Purchases Additional Equity in GrainChain

Article - Media, Publications

Medici Ventures Purchases Additional Equity in GrainChain

GLOBE NEWSWIRE, 06 March 2020

Overstock.com, Inc. (NASDAQ:OSTK) has announced that the company’s blockchain accelerator, Medici Ventures, has exercised a warrant to purchase an additional $5 million of equity in keiretsu company GrainChain to further grow its revolutionary agricultural blockchain platform. Medici Ventures is joining Eden Block and other investors in this latest round of funding for GrainChain, which resulted in $8.2 million in capital for the company. This follows Medici Ventures’ initial investment of $2.5 million in GrainChain, announced in December 2018.

GrainChain’s innovative platform enables faster payment and allows for the immediate availability of tradable commodities between buyers and farmers. Its blockchain-based infrastructure also reduces fraud and corruption through tracking and certification, and generally streamlines transactional procedures throughout the commodities supply chain. Continue reading “Article: Medici Ventures Purchases Additional Equity in GrainChain”

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Release: INVESTOR ALERT Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Canaan Inc. (CAN) Investors

Release

INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Canaan Inc. (CAN) Investors

5 March 2020

Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Canaan Inc. (“Canaan” or the “Company”)  securities pursuant and/or traceable to the Company’s registration statement and related prospectus (collectively, the “Registration Statement”) issued in connection with its November 20, 2019 initial public offering (“IPO”). Canaan investors have until May 4, 2020 to file a lead plaintiff motion.

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Article: Bragar Eagel & Squire, P.C. Announces That a Class Action Lawsuit Has Been Filed Against Canaan, Inc. and Encourages Investors to Contact the Firm

Article - Media

Bragar Eagel & Squire, P.C. Announces That a Class Action Lawsuit Has Been Filed Against Canaan, Inc. and Encourages Investors to Contact the Firm

Business Wire, 5 March 2020

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 District of Oregon on behalf of investors that purchased Canaan, Inc. (NASDAQ: CAN) securities pursuant or traceable to the Company’s initial public offering, which commenced on or about November 20, 2019 (the “IPO” or “Offering”). Investors have until May 4, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

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Article: Founder of Russian bank charged with tax fraud

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Founder of Russian bank charged with tax fraud

IRS, 05 March 2020

The founder of a Russian bank was arrested last week in London in connection with an indictment charging him with filing false tax returns, announced Internal Revenue Service (IRS) Criminal Investigation, Special Agent in Charge Kareem Carter. The Sept. 26, 2019, indictment was unsealed today Continue reading “Article: Founder of Russian bank charged with tax fraud”

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Article: Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces Investigation of PharmaCielo Ltd. (PCLOF) on Behalf of Investors

Article - Media, Publications

Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces Investigation of PharmaCielo Ltd. (PCLOF) on Behalf of Investors

BUSINESS WIRE, 04 March 2020

Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf PharmaCielo Ltd. (“PharmaCielo” or “the Company”) (OTC: PCLOF) investors concerning the Company and its officers’ possible violations of the federal securities laws.

On March 2, 2020, Hindenburg Research published a report, alleging, among other things, that PharmaCielo’s “key operating property in Rionegro, Colombia” was sold “at a massive markup, allowing insiders to enrich themselves by an estimated $5.35 million.” The report also stated that the Company’s purported greenhouse facilities on newly-purchased land is “nothing more than an empty field covered in weeds.”
Continue reading “Article: Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces Investigation of PharmaCielo Ltd. (PCLOF) on Behalf of Investors”

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Article: PharmaCielo Rocked by New Short Report

Article - Media, Publications

PharmaCielo Rocked by New Short Report

Bryan Mc Govern, 03 March 2020

The cannabis industry is facing another targeted short-seller attack leading to a massive value drop. On Monday (March 2) Colombia-based operator PharmaCielo (TSXV:PCLO,OTCQX:PCLOF) opened at a price of C$1.60 in Toronto, indicating a double-digit percentage drop in its share price directly tied to new claims raised in a report.

A group known as Hindenburg Research shared with the market a new note in which the researchers pose several claims against company co-founder and former CEO Anthony Wile. The group has picked up a short position but it did not indicate a price-target for the shares of PharmaCielo.
Continue reading “Article: PharmaCielo Rocked by New Short Report”

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Article: US Authorities Build Case Against JP Morgan Over Market Manipulation For Precious Metals

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US Authorities Build Case Against JP Morgan Over Market Manipulation For Precious Metals

Mike Papantonio, 29 February 2020

Via America’s Lawyer: RT correspondent Michele Greenstein joins Mike Papantonio to walk us through a developing criminal case against bank behemoth JPMorgan, which is being accused yet again of manipulating precious metals markets for the express profit of its own clients and investors.

Mike Papantonio: Federal prosecutors are turning their attention towards bank behemoth JP Morgan, which is accused of manipulating gold and silver prices for the benefit of their clients and their shareholders. Michele Greenstein joins me now to explain what’s happening with this case. First off, run us through these allegations, Michele, you’ve covered this story a fair amount. It’s, it’s a story that again, corporate media isn’t covering this one. What is your take on this story?

Michele Greenstein: Well, US authorities are building a case, although formal accusations have not been made against the bank, but according to two people who are familiar with the matter who spoke with Bloomberg news, US authorities, like we said, are building a criminal case against JP Morgan. Now both the bank and the DOJ declined to comment, but a bank spokesperson did confirm that the DOJ is investigating “trading practices in the metal market and related conduct.” So Pap, what we’re talking about here is metal market manipulation that is intentionally misleading or spoofing members of the metals market. So gold, silver, platinum, palladium, all of these are the precious metals, right? And what market manipulation looks like is this.

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Release: MGP INGREDIENTS ALERT Bragar Eagel & Squire, P.C. Announces That a Class Action Lawsuit Has Been Filed Against MGP Ingredients, Inc. and Encourages Investors to Contact the Firm

Release

Bragar Eagel & Squire, P.C. Announces That a Class Action Lawsuit Has Been Filed Against MGP Ingredients, Inc. and Encourages Investors to Contact the Firm

28 February 2020

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 District of Kansas on behalf of investors that purchased MGP Ingredients, Inc. (NASDAQ: MGPI) securities between February 27, 2019 and February 25, 2020 (the “Class Period”). Investors have until April 28, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

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Release: INVESTIGATION ALERT The Schall Law Firm Announces it is Investigating Claims Against Carvana Co. and Encourages Investors with Losses to Contact the Firm

Release

INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Carvana Co. and Encourages Investors with Losses to Contact the Firm

27 February 2020

The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Carvana Co. (“Carvana” or “the Company”) (NYSE: CVNA) for violations of securities laws.

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Article: Russia’s money laundering risks – what does the latest FATF report mean in practice?

Article - Media, Publications

Russia’s money laundering risks – what does the latest FATF report mean in practice?

Kateryna Boguslavska, 26 February 2020

Russia’s risk level in the Basel AML Index has hit a record low following a December 2019 Financial Action Task Force (FATF) assessment that rated the country’s anti-money laundering and counter terrorist financing (AML/CFT) systems as reasonably effective.

The Basel AML Index is the only independent, data-based index of the risk of money laundering and terrorist financing (ML/TF) around the world. Russia’s overall risk score has fallen from 5.75 to 5.60 out of 10, where 10 equals the highest assessed risk of ML/TF. It remains in the medium/high-risk category, reflecting in particular its vulnerabilities to a high level of corruption and to political and legal risks. Continue reading “Article: Russia’s money laundering risks – what does the latest FATF report mean in practice?”

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Article: Beyond Deutsche: U.S. Banks Also Implicated in Dubious Partnerships Abroad

Article - Media, Publications

Beyond Deutsche: U.S. Banks Also Implicated in Dubious Partnerships Abroad

CRISTINA MAZA, 24 February 2020

Evgeny, a retiree from the Russian city of Vladimir, always believed that the U.S. financial system had integrity. In particular Citibank, to him, was no Deutsche Bank, a bank known for getting in bed with dubious investors. And that belief, Evgeny says, may have led to his financial ruin.

The 63-year-old worked for years as a manager in the construction industry, and eventually he became a member of Russia’s minuscule middle class. He planned to retire in 2018 with roughly $100,000 in savings, the product of a lifetime of toil. For almost a decade he deposited his savings in one of Russia’s largest and most reputable financial institutions: Promsvyazbank. Evgeny was one of the bank’s top-tier clients, and he believed that he was on a path to financial stability for himself and his family. Continue reading “Article: Beyond Deutsche: U.S. Banks Also Implicated in Dubious Partnerships Abroad”

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Article: Bank of America Eroded U.S. Spoof Case, Laying Path for JPMorgan

Article - Media

Bank of America Eroded U.S. Spoof Case, Laying Path for JPMorgan

Tom Schoenberg

Bloomberg, 20 February 2020

Bank of America Corp.’s lawyers came through big for their client last year when they whittled down a U.S. case over precious metals spoofing.

Justice Department prosecutors wanted to bring criminal charges, but bank lawyers asked for none and prevailed. Prosecutors named Bank of America throughout the draft settlement document but not in the final version.

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Release: SHAREHOLDER ALERT Pawar Law Group Announces a Securities Class Action Lawsuit Against Six Flags Entertainment Corporation – SIX

Release

SHAREHOLDER ALERT: Pawar Law Group Announces a Securities Class Action Lawsuit Against Six Flags Entertainment Corporation – SIX

19 February 2020

Pawar Law Group announces that a class action lawsuit has been filed on behalf of shareholders who purchased shares of Six Flags Entertainment Corporation (NYSE: SIX) from April 25, 2018 through January 9, 2020, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Six Flags Entertainment Corporation investors under the federal securities laws.

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Release: INVESTOR ALERT Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf Luckin Coffee Inc. (LK) Investors

Release

INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf Luckin Coffee Inc. (LK) Investors

14 February 2020

Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Luckin Coffee Inc. (“Luckin Coffee” or the “Company”) NASDAQLK securities between November 13, 2019 and January 31, 2020, inclusive (the “Class Period”). Luckin investors have until April 13, 2020 to file a lead plaintiff motion.

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THE DOLLAR HAS NO INTRINSIC VALUE : DO YOUR ASSETS?