Posted on

Article: Singapore’s Marina Bay Sands casino pays Chinese gambler US$6.5 million to settle suit

Article - Media, Publications

Singapore’s Marina Bay Sands casino pays Chinese gambler US$6.5 million to settle suit

Bloomberg,  20 July 2020

(Bloomberg) Singapore casino Marina Bay Sands has agreed to settle a lawsuit brought by a former patron, meeting his demand for a S$9.1 million (US$6.5 million) payment, according to a person familiar with the matter.

Marina Bay Sands, run by US billionaire Sheldon Adelson’s Las Vegas Sands, also agreed to allow Chinese gambler Wang Xi back into the casino as long as he abides by its policies, said the person, who asked not be identified because the matter is confidential.

Read Full Article

Posted on

Article: Does the EU’s anti-money laundering strategy ignore the (Russian) elephant in the room?

Article - Media, Publications

Does the EU’s anti-money laundering strategy ignore the (Russian) elephant in the room?

Portia Kentish, 14 July 2020

With Europe’s parliament having now approved the European Commission’s new “high-risk” list of third countries deemed a threat to the bloc’s anti-money laundering (AML) efforts, several high profile critics are already voicing fears that it will do little to prevent illicit funds from being washed through Europe’s banks. This is particularly true for the Baltic states, whose vulnerability to money laundering networks based in neighbouring Russia remains an acute problem for the region. Continue reading “Article: Does the EU’s anti-money laundering strategy ignore the (Russian) elephant in the room?”

Posted on

Article: Market Movers: Facedrive Inc.

Article - Media, Publications

Market Movers: Facedrive Inc.

Braden Maccke, 14 July 2020

Market movers joins the story of Richmond Hill, Ontario based nu-tech platform company Facedrive Inc. (TSXV: FD) just as it finishes a wild Monday, ultimately giving back -$4.92 (-19%) from last week’s $10.14 (+68%) vertical move in a 596,000 share session that landed it at $20.00 flat, after touching $28.00, an intra-day and all-time high.

The 92 million share company has kept tight lines and a clean hull on the boat that is its cap structure, and has trimmed its sails perfectly to capture this market’s strongest trade winds. The company purports to be advancing business units that the market understands, in a manner that socially and ecologically conscious investors and consumers appreciate.
Continue reading “Article: Market Movers: Facedrive Inc.”

Posted on

Article: Patrick Byrne to Increase Focus on tZERO and Digital Securities Exchanges

Article - Media, Publications

Patrick Byrne to Increase Focus on tZERO and Digital Securities Exchanges

Joshua Stoner, 12 July 2021

Despite market conditions, there is no shortage of belief in the viability of blockchain. Week after week, partnerships are made, and new products ramp up development. One notable move has taken place just recently. Patrick Byrne has indicated that he will be shifting his priority and focus from Overstock.com to tZERO. This shift will see the sale of the retail side of Overstock.com. The plan is expected to come to fruition by February of 2019, as they line up potential buyers. Continue reading “Article: Patrick Byrne to Increase Focus on tZERO and Digital Securities Exchanges”

Posted on

Article: Uncertainty tax: Why Vanguard bigwigs expect economic growth to slow in 2020

Article - Media, Publications

Uncertainty tax: Why Vanguard bigwigs expect economic growth to slow in 2020

Erin Arvedlund, 11 July 2020

Vanguard’s top executives held a webcast Thursday evening addressing key factors that could affect the U.S. and global economies, trends to watch for in the financial markets, and what’s new for Vanguard clients in 2020.

“We’ve seen a significant rally last year, so for returns in bonds, we expect overall 2-2.5% over the next decade” annually, said chief investment officer Greg Davis on the one-hour program. For U.S. equities, Vanguard expects annual returns of slightly under 5% and international equities of 7.5% annually. Continue reading “Article: Uncertainty tax: Why Vanguard bigwigs expect economic growth to slow in 2020”

Posted on

Article: Novagold says potential class action amateurish, ignorant

Article - Media, Publications

Novagold says potential class action amateurish, ignorant

Cecilia Jamasmie, 10 July 2020

Canada’s Novagold (TSX, NYSE: NG), which is suing short-selling firm J Capital Research (JCAP) for defamation, said a US law firm’s potential attempt to launch a class suit against the company on alleged securities fraud would be based on “malicious and false information”. Lawyers at Hagens Berman and Portnoy said this week they were investigating whether Novagold had misled investors about the viability of its Donlin gold project, in Alaska.

Novagold said the move by San Francisco-based Hagens Berman appeared to be entirely based on JCAP’s “tapestry of deceit” as well as “false and misleading statements” about the company and its 50-50 development partner in the project, Barrick Gold (TSX: ABX) (NYSE: GOLD).
Continue reading “Article: Novagold says potential class action amateurish, ignorant”

Posted on

Article: Novagold slams law firm for ‘malicious and false’ claims on Donlin gold project

Article - Media, Publications

Novagold slams law firm for ‘malicious and false’ claims on Donlin gold project

Nahum Asher, 09 July 2020

According to the complaint, throughout the Class Period, Defendants misrepresented and concealed that (1) ACM Research’s revenues and profits were diverted to undisclosed related parties, and (2) consequently, the company materially overstated its revenues and profits.
Investors allegedly began to learn the truth on Oct. 8, 2020, when J Capital Research published a report entitled “Dirty business,” bringing ACM Research’s reported financials into serious question.
More specifically, J Capital concludes ACM Research is a fraud, over-reporting both revenue and profit. According to the report, “ACMR reports industry-beating gross margins of 47%” but “[w]e believe the real gross margins are half at the best.” J Capital also concludes revenues are overstated by 15-20%, undisclosed related parties are diverting revenue and profit from the company, the key means by which ACMR tunnels over-reported profit out of the company may be through about $20 million in overstated inventory and through cash that is inflated or compromised, and warranty and service costs are understated by at least $11 million.
Continue reading “Article: Novagold slams law firm for ‘malicious and false’ claims on Donlin gold project”

Posted on

Article: NovaGold Investors: Company Investigated by the Portnoy Law Firm

Article - Media, Publications

NovaGold Investors: Company Investigated by the Portnoy Law Firm

GLOBE NEWSWIRE, 09 July 2020

According to the complaint, throughout the Class Period, Defendants misrepresented and concealed that (1) ACM Research’s revenues and profits were diverted to undisclosed related parties, and (2) consequently, the company materially overstated its revenues and profits.

Investors allegedly began to learn the truth on Oct. 8, 2020, when J Capital Research published a report entitled “Dirty business,” bringing ACM Research’s reported financials into serious question.
More specifically, J Capital concludes ACM Research is a fraud, over-reporting both revenue and profit. According to the report, “ACMR reports industry-beating gross margins of 47%” but “[w]e believe the real gross margins are half at the best.” J Capital also concludes revenues are overstated by 15-20%, undisclosed related parties are diverting revenue and profit from the company, the key means by which ACMR tunnels over-reported profit out of the company may be through about $20 million in overstated inventory and through cash that is inflated or compromised, and warranty and service costs are understated by at least $11 million.
Continue reading “Article: NovaGold Investors: Company Investigated by the Portnoy Law Firm”

Posted on

Article: Benitec Biopharma Provides Update on BB-301 Tissue Transduction Study

Article - Media, Publications

Benitec Biopharma Provides Update on BB-301 Tissue Transduction Study

PRNewswire, 08 July 2020

Benitec Biopharma, Inc. (NASDAQ: BNTC), a development-stage, gene therapy-focused, biotechnology company developing novel genetic medicines based on the proprietary DNA-directed RNA interference (“ddRNAi”) platform, today announced the initiation of the BB-301 Tissue Transduction Study in large animal subjects. Continue reading “Article: Benitec Biopharma Provides Update on BB-301 Tissue Transduction Study”

Posted on

Article: Hedge Funds Are Dumping Cerence Inc. (CRNC)

Article - Media, Publications

Hedge Funds Are Dumping Cerence Inc. (CRNC)

Debasis Saha, 05 July 2020

At the end of February we announced the arrival of the first US recession since 2009 and we predicted that the market will decline by at least 20% in (see why hell is coming). In these volatile markets we scrutinize hedge fund filings to get a reading on which direction each stock might be going. In this article, we will take a closer look at hedge fund sentiment towards Cerence Inc. (NASDAQ:CRNC) at the end of the first quarter and determine whether the smart money was really smart about this stock.

Cerence Inc. (NASDAQ:CRNC) has experienced a decrease in enthusiasm from smart money in recent months. Our calculations also showed that CRNC isn’t among the 30 most popular stocks among hedge funds (click for Q1 rankings and see the video for a quick look at the top 5 stocks).
Continue reading “Article: Hedge Funds Are Dumping Cerence Inc. (CRNC)”

Posted on

Article: Green Plains sues ADM, alleging ethanol market manipulation

Article - Media, Publications

Green Plains sues ADM, alleging ethanol market manipulation

P.J. Huffstutter, 05 July 2020

CHICAGO (Reuters) – Green Plains Inc, one of the biggest U.S. ethanol producers, sued Archer Daniels Midland Co on Tuesday, accusing the global grain trader of manipulating the price of the biofuel to profit from its positions in the derivatives market.

Green Plains filed the proposed class action with the U.S. District Court of Nebraska, where it also claimed that senior ADM officials knew of the alleged manipulation. ADM told Reuters in an email statement that the company does not comment on pending litigation. The lawsuit seeks unspecified damages. It follows reporting by Reuters that ADM’s ethanol selling had led traders to complain to S&P Global Platts, which provides benchmark pricing for the physical ethanol contract at different U.S. delivery points. Continue reading “Article: Green Plains sues ADM, alleging ethanol market manipulation”

Posted on

Article: Form S-1/A Jupiter Wellness, Inc.

Article - Media, Publications

Form S-1/A Jupiter Wellness, Inc.

BONGIOVANNI MICHAEL J, 04 July 2020

We are offering 1,000,000 units (each, a “Unit”), each Unit consisting of one share of common stock, par value $0.001 per share, and one warrant (each a “Warrant”), in a firm commitment initial public offering at an assumed price of US$7.50 per Unit. Each Warrant is immediately exercisable, will entitle the holder to purchase one share of common stock at an exercise price of US$8.50 and will expire five (5) years from the date of issuance. The shares of common stock and Warrants may be transferred separately immediately upon issuance.

We intend to apply to list our shares of common stock and Warrants for trading on the Nasdaq Capital Market, subject to official notice of issuance, under the symbols “JUPW” and “JUPWW”. Completion of this offering is contingent on the approval of our listing application for trading on the Nasdaq Market.

We are an emerging growth company under the Jumpstart our Business Startups Act of 2012, or JOBS Act, and, as such, may elect to comply with certain reduced public company reporting requirements for future filings. Investing in our securities involves a high degree of risk.

Read Full Article

Posted on

Article: Spruce Point Capital Management Releases A Strong Sell Research Opinion On Prestige Consumer Healthcare Inc. (NYSE: PBH)

Article - Media, Publications

Spruce Point Capital Management Releases A Strong Sell Research Opinion On Prestige Consumer Healthcare Inc. (NYSE: PBH)

PRNewswire, 30 June 2020

Report entitled “Time To Nix Management” outlines how Prestige Consumer Healthcare Inc. (“PBH”, “Prestige” or “the Company”) faces 40%-60% downside risk to approximately $15 to $23 per share. The full contents of the report can be reviewed at www.sprucepointcap.com. Continue reading “Article: Spruce Point Capital Management Releases A Strong Sell Research Opinion On Prestige Consumer Healthcare Inc. (NYSE: PBH)”

Posted on

Article: Coffee’s for Closers: How a Short Seller’s Warning Helped Take Down Luckin Coffee

Article - Media, Publications

Coffee’s for Closers: How a Short Seller’s Warning Helped Take Down Luckin Coffee

Jing Yang in Hong Kong, Juliet Chung in New York and Julie Steinberg in London, 23 June 2020

In January, days after the shares of Luckin Coffee Inc. hit a record high on the Nasdaq Stock Market , giving the company a $12 billion valuation, a cryptic email arrived in the inboxes of multiple short sellers. “A new generation of Chinese Fraud 2.0 has emerged,” it said. “Companies that start off as fundamentally and structurally flawed business model [sic] that evolves into fraud.” The author offered to share customer receipts and videos from Luckin Coffee outlets, attached a long report about the company and said the short sellers could publish and take credit for it. Continue reading “Article: Coffee’s for Closers: How a Short Seller’s Warning Helped Take Down Luckin Coffee”

Posted on

Article: Why Investors Are Talking About Hyliion and Tortoise Acquisition

Article - Media, Publications

Why Investors Are Talking About Hyliion and Tortoise Acquisition

John Rosevear, 28 June 2020

Shares of Tortoise Acquisition (NYSE:SHLL) are on quite a run. The stock ended Friday’s session up 41.2% on the day — and up 140% since the morning of June 19, when it announced plans to merge with a company called Hyliion. The quick run-up has investors asking some big questions. Did I miss something? Is this a scam? Who the heck are these guys?

What is Tortoise Acquisition?
Tortoise is a special-purpose acquisition company, or SPAC, a type of company created specifically to acquire one or more other companies. Sometimes called a “shell company,” SPACs generally have no ongoing businesses of their own. In this case, Tortoise was created by a team of veteran energy-industry executives and investors with the goal of finding and investing in one or more good businesses related to their shared area of interest, renewable natural gas. That’s where Hyliion comes in.
Continue reading “Article: Why Investors Are Talking About Hyliion and Tortoise Acquisition”