Category: Publications

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Release: SHAREHOLDER ALERT Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Momo Inc. of Class Action Lawsuit and Upcoming Deadline – MOMO

Release

SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Momo Inc. of Class Action Lawsuit and Upcoming Deadline – MOMO

17 June 2019

Pomerantz LLP announces that a class action lawsuit has been filed against Momo Inc. (“Momo” or the “Company”) (NASDAQ: MOMO) and certain of its officers. The class action, filed in United States District Court, for the Southern District of New York, and indexed under 19-cv-04433, is on behalf of a class consisting of all persons and entities who purchased or otherwise acquired Momo securities between April 21, 2015 and April 29, 2019, both dates inclusive (the “Class Period”), seeking to recover damages caused by Defendants’ violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder, against the Company and certain of its top officials.

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Article: Europol highlights Russian money as biggest laundering threat

Article - Media, Publications

Europol highlights Russian money as biggest laundering threat

John O’Donnell, 13 July 2019

Europe’s Baltic states are at risk from further Russian money laundering, a top European police official said after several big banks were hit by scandals centered on the region.

Pedro Felicio, who is responsible for fighting money laundering at European police agency Europol, told Reuters that “huge inflows of criminal money” are mainly coming into Europe from Russia and China.

Russian money is alleged to be at the heart of multi-billion dollar laundering rackets that engulfed Danske Bank, Denmark’s largest lender and Sweden’s Swedbank. Continue reading “Article: Europol highlights Russian money as biggest laundering threat”

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Article: Nymox Pharmaceutical: Assessing The Short And Long Ideas

Article - Media, Publications

Nymox Pharmaceutical: Assessing The Short And Long Ideas

Avisol Capital Partners, 13 June 2019

Nymox Pharmaceutical (NYMX) has been accused of being an outright serial scam by well-known biopharma short expert Richard Pearson. This was from August 10, 2016, and he had this headline for his article – “Nymox: This Offshore ‘Biotech’ Promotion Will Go To Zero (Yes, Zero).” In that well-written article, he went on to claim how the company hid details of poor trial data from the public, while senior management continued to dump stock without timely SEC disclosure, how the company’s auditor, legal counsel, bankers are all “closely tied to regulatory violations, stock promotions and/or outright fraud,” and how the author filed an SEC complaint against the company after publishing the article.

That article took the stock down by almost 50%. However, it quickly recovered in the same month to soar back to above where it was before the fall. Couple more short articles followed over the years. Some people, I am sure, made money during that fall and rise.
Continue reading “Article: Nymox Pharmaceutical: Assessing The Short And Long Ideas”

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Article: Swiss regulator to fine banks €80m over foreign exchange cartel

Article - Media, Publications

Swiss regulator to fine banks €80m over foreign exchange cartel

The Irish Times, 06 June 2019

Four British and US banks will be fined about 90 million Swiss francs (€80m) this week by Switzerland’s competition authority for colluding to rig foreign exchange markets, weeks after the European Union handed out €1 billion of penalties for similar misconduct.

Weko, as the Swiss regulator is known, found that traders at Barclays, JPMorgan, Citigroup and Royal Bank of Scotland worked together in a cartel-style arrangement to manipulate currency prices for their own gain, according to people briefed on the decision. Continue reading “Article: Swiss regulator to fine banks €80m over foreign exchange cartel”

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Article: Part 7: Illegal Naked Shorting: DTCC Continuous Net Settlement and Stock Borrowing Programs Have Loopholes That Facilitate Illegal Naked Shorting

Article - Media

Part 7: Illegal Naked Shorting: DTCC Continuous Net Settlement and Stock Borrowing Programs Have Loopholes That Facilitate Illegal Naked Shorting

Larry Smith

Smith On Stocks, 31 May 2019

There is an integral relationship between the DTCC and hedge funds. The DTCC is owned by Prime Brokers; these are Goldman Sachs, Morgan Stanley, Merrell Lynch and other household name investment banks. Prime Brokers provide basic services to hedge funds that allow them to trade with multiple brokerage houses while maintaining a centralized master account at their prime broker containing cash and securities. The prime broker offers stock loan services, portfolio reporting, consolidated cash management and other services. Hedge fund support is a very meaningful percentage of the net income of Prime Brokers.

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Article: THE FALLOUT FROM RUSSIAN MONEY LAUNDERING CONTINUES TO GROW FOR EUROPEAN BANKS

Article - Media, Publications

THE FALLOUT FROM RUSSIAN MONEY LAUNDERING CONTINUES TO GROW FOR EUROPEAN BANKS

Nicholas Larsen, International Banker, 20 May 2019

On April 5, Lars Idermark resigned from his position as the chairman of Swedbank, headquartered in Sweden. Idermark stepped down from his position only a week after the chief executive officer, and previously the supervisor of Swedbank operations in the Baltic states, Birgitte Bonnesen, was fired. The moves come amid sweeping allegations that Sweden’s oldest bank was involved in laundering billions of dollars’ worth of Russian money. In particular, the lender’s Baltic units have been named as being complicit in handling illegal funds from Russia as well as other smaller former Soviet countries. Continue reading “Article: THE FALLOUT FROM RUSSIAN MONEY LAUNDERING CONTINUES TO GROW FOR EUROPEAN BANKS”

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Article: ReWalk Robotics Completes One-for-Twenty-Five Reverse Share Split

Article - Media, Publications

ReWalk Robotics Completes One-for-Twenty-Five Reverse Share Split

GLOBE NEWSWIRE, 29 May 2019

YOKNEAM ILIT, Israel and MARLBOROUGH, Mass., March 29, 2019 (GLOBE NEWSWIRE) — ReWalk Robotics Ltd. (RWLK) (“ReWalk” or the “Company”) reported today that it has completed the reverse share split of ReWalk ordinary share at a ratio of one-for-twenty-five shares, which will take effect on April 1, 2019. The Company also increased its authorized and registered share capital and amended its Articles of Association to reflect the reverse share split and the increase in share capital. Following the reverse share split and increase in authorized share capital, the total number of ordinary shares that the Company is authorized to issue will be 60 million shares, the par value per share of the ordinary shares will be NIS 0.25 and the authorized share capital of the Company will be NIS 15 million.

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Article: Citron’s Andrew Left slams Jumia as a ‘fraud,’ accuses company of ‘financial colonialism’ in latest video

Article - Media

Citron’s Andrew Left slams Jumia as a ‘fraud,’ accuses company of ‘financial colonialism’ in latest video

Tonya Garcia

MarketWatch, 29 May 2019

Citron Research’s Andrew Left, a noted short seller, is once again slamming Jumia Technologies AG as a “fraud,” this time in a video that includes footage of what he says are former employees who accuse the company of placing fake orders.

Comment:  Down from $36 to $3 based on a naked short selling campaign apparently led by Andrew Left.

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Article: The implementation of the UK Anti-Bribery Act (ABC)

Article - Media, Publications

The implementation of the UK Anti-Bribery Act (ABC)

Compliance Alert, 29 May 2019

The implementation of the UK Anti-Bribery Act (ABC) 2010 on July 1, 2011 saw the long-awaited updating of the UK’s somewhat antiquated laws on bribery. For many years the UK’s anti-corruption common law and statutory offences were considered to be unsatisfactory and insufficiently robust. High-profile failures, such as the stalled investigation by the Serious Fraud Office (SFO) of allegations of corruption at BAE Systems, did little to improve the perception that UK anti-corruption laws were inadequate and lagged far behind the recommendations of the Organisation for Economic Co-operation and Development’s Anti-Bribery Convention. That convention was the first international agreement to outlaw foreign bribery and was ratified by the UK in 1998. Continue reading “Article: The implementation of the UK Anti-Bribery Act (ABC)”

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Article: Citi, JPMorgan, UBS face forex class action over ‘Mafia’ chat rooms

Article - Media, Publications

Citi, JPMorgan, UBS face forex class action over ‘Mafia’ chat rooms

Peter Vercoe, 28 May 2019

Citigroup, Royal Bank of Scotland Group and JPMorgan Chase are among five banks named in a class action lawsuit in Australia seeking damages for colluding on foreign-exchange trading strategies.

UBS Group and Barclays were also named in the suit lodged on Monday in the Federal Court by Maurice Blackburn Lawyers. The action says the banks colluded to rig foreign exchange rates, boosting profits at the expense of Australian businesses and investors, the law firm said in a statement. Continue reading “Article: Citi, JPMorgan, UBS face forex class action over ‘Mafia’ chat rooms”

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Release: ARA MAY 28 DEADLINE Pawar Law Group Announces a Securities Class Action Lawsuit Against American Renal Associates Holdings, Inc. – ARA

Release

ARA MAY 28 DEADLINE: Pawar Law Group Announces a Securities Class Action Lawsuit Against American Renal Associates Holdings, Inc. – ARA

22 May 2019

Pawar Law Group announces that a class action lawsuit has been filed on behalf of shareholders who purchased shares of American Renal Associates Holdings, Inc. (NYSE:ARA) from August 10, 2016 through March 27, 2019, inclusive (the “Class Period”). The lawsuit seeks to recover damages for American Renal investors under the federal securities laws.

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Article: Five Banks Face Lawsuit In Australia for FX Collusion

Article - Media, Publications

Five Banks Face Lawsuit In Australia for FX Collusion

finews asia, 27 May 2019

UBS and Royal Bank of Scotland are among five banks named in a class action lawsuit in Australia relating to collusion on foreign-exchange strategies.

Australian law firm Maurice Blackburn on Monday filed a class-action lawsuit against the five international investment banks, accusing them of colluding to rig foreign exchange rates during 2008-2013 so they can profit. They are UBS, Barclays Bank, Citigroup, Royal Bank of Scotland (RBS) and J.P. Morgan. Continue reading “Article: Five Banks Face Lawsuit In Australia for FX Collusion”

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Article: Citi, JPMorgan, UBS Face Forex Cartel Class Action in Australia

Article - Media, Publications

Citi, JPMorgan, UBS Face Forex Cartel Class Action in Australia

Peter Vercoe, 27 May 2019

Citigroup Inc., Royal Bank of Scotland Group Plc and JPMorgan Chase & Co. are among five banks named in a class action lawsuit in Australia seeking damages for colluding on foreign-exchange trading strategies. UBS Group AG and Barclays Plc were also named in the suit lodged Monday in the Federal Court by Maurice Blackburn Lawyers. The action claims the banks colluded to rig foreign exchange rates boosting profits at the expense of Australian businesses and investors, the law firm said in a statement. Continue reading “Article: Citi, JPMorgan, UBS Face Forex Cartel Class Action in Australia”

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Article: A $2M Scam by a Former Vanguard Supervisor

Article - Media, Publications

A $2M Scam by a Former Vanguard Supervisor

tomd37, 25 May 2019

A very interesting article in the June/July Issue (page 28) of Money Magazine. In part it reads “In March, a former Vanguard supervisor pleaded guilty to stealing more than $2 million from the accounts of deceased customers or those with inactive accounts before getting found out, according to the Philadelphia Inquirer.” More details are in the article as well as ways to help protect yourself. Continue reading “Article: A $2M Scam by a Former Vanguard Supervisor”

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