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Article: Why Wendy’s Stock Crashed Today

Article - Media, Publications

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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Article: BIONANO GENOMICS ANNOUNCES PRICING OF $18 MILLION UNDERWRITTEN PUBLIC OFFERING

Article - Media, Publications

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”

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Release: SHAREHOLDER ALERT Pomerantz Law Firm Investigates Claims On Behalf of Investors of Canaan Inc. – CAN

Release

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Canaan Inc. – CAN

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.

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Release: MESA AIR GROUP ALERT Bragar Eagel & Squire, P.C. is Investigating Mesa Air Group, Inc. on Behalf of Stockholders and Encourages Investors to Contact the Firm

Release

MESA AIR GROUP ALERT Bragar Eagel & Squire, P.C. is Investigating Mesa Air Group, Inc. on Behalf of Stockholders and Encourages Investors to Contact the Firm

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.

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Web: Short Sales Bans in Response to the COVID-19 Pandemic

Web

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.

Continue reading “Web: Short Sales Bans in Response to the COVID-19 Pandemic”

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Release: SHAREHOLDER ALERT Pomerantz Law Firm Investigates Claims On Behalf of Investors of XP, Inc. – XP

Release

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of XP, Inc. – XP

30 March 2020

In December 2019, XP conducted its initial public offering (“IPO”), offering 72,510,641 shares of common stock priced at $27.00 per share. Then, on March 6, 2020, The Winkler Group published a short report questioning the accuracy of XP’s financial statements. Among other allegations, the report alleges significant discrepancies between XP’s internal audits and the financial statements that XP provided investors in its IPO prospectus. The report also alleges that “XP fired its auditor after the auditor found material weaknesses in its financial reporting[.]”

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Article: Regulators across Europe clash over bans on short selling

Article - Media

Regulators across Europe clash over bans on short selling

Philip Stafford, Laurence Fletcher, Robert Smith

Financial Times, 30 March 2020

France, Spain and Italy issued one-day prohibitions against betting on falling share prices for selected companies — and then longer bans of between one and three months, applied to all stocks listed on their domestic markets. Belgium, Austria and Greece swiftly followed suit, while Esma, the pan-European regulator, demanded tighter standards on reporting of short positions. Markus Ferber, an influential European MEP, urged a co-ordinated ban across the continent. But the clampdown has been partial.

Paywall Access to Article.

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Article: The Tide Is Going Out and JPMorgan, Deutsche Bank and AIG Appear to Be Swimming (Read Trading) Naked

Article - Media

The Tide Is Going Out and JPMorgan, Deutsche Bank and AIG Appear to Be Swimming (Read Trading) Naked

Pam Martens, Russ Martens

Wall Street on Parade, 29 March 2020

Warren Buffet is credited with the quote: “Only when the tide goes out do you discover who’s been swimming naked.”

Friday’s closing prices among some of the heavily interconnected mega Wall Street banks and insurance companies known to be counterparties to Wall Street’s derivatives appeared to show who’s swimming naked in the realm of derivatives – naked meaning who has sold derivative protection (gone short the risk) on something that is blowing up.

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Article: Russia busts card fraud ring that included an infamous hacker

Article - Media, Publications

Russia busts card fraud ring that included an infamous hacker

J. Fingas, 29 March 2020

Russia tends to turn a blind eye to some fraudsters and hackers, but it just clamped down on a particularly large group. Investigators have charged at least 25 people involved in a credit card fraud ring that included a notorious hacker. While Russian authorities didn’t provide a formal list of those caught in the bust, records and security blogger Andrey Sporov have revealed that one of those arrsted was Alexey Stroganov, also known as “Flint.” As a Krebs on Security source said, Stroganov apparently had a stake in “almost every major [card] hack” from the past 10 years, and sent “hundreds of millions of dollars” through the seized cryptocurrency exchange BTC-e. Continue reading “Article: Russia busts card fraud ring that included an infamous hacker”

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Article: Overstock accelerator plots expansion of farming blockchain

Article - Media, Publications

Overstock accelerator plots expansion of farming blockchain

Frank Cardona, 28 March 2020

Medici Ventures, a blockchain accelerator owned by internet retail company Overstock.com, announced a global expansion of agritech blockchain company GrainChain through a partnership with Symbiont’s enterprise blockchain network. Earlier this month, Medici Ventures announced it had purchased over $5 million in equity from GrainChain as part of an <$8.2 funding round for the project. Continue reading “Article: Overstock accelerator plots expansion of farming blockchain”

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Release: INVESTOR ALERT Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf Hanmi Financial Corporation (HAFC) Investors

Release

INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf Hanmi Financial Corporation (HAFC) Investors

27 March 2020

Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Hanmi Financial Corporation (“Hanmi” or the “Company”) (NASDAQ: HAFC) securities between August 12, 2019 and January 28, 2020, inclusive (the “Class Period”). Hanmi investors have until May 26, 2020 to file a lead plaintiff motion.

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Article: Domain Registrars Take Action Against Fraudulent COVID-19 Websites

Article - Media, Publications

Domain Registrars Take Action Against Fraudulent COVID-19 Websites

Sarah Coble, 27 March 2020

American domain registration companies are taking steps to combat coronavirus-related fraud. Budget hosting provider Namecheap Inc. has halted automated registration of website names that reference the COVID-19 health crisis. The Los Angeles–based company’s action comes after a surge in fraudulent websites seeking to profit from the pandemic.

Online scams proliferating from the coronavirus outbreak have included fraudulent charity websites, sites selling fake vaccines and cures, and infection-tracking sites that deliver malware. In an email to customers sent on March 26, Namecheap CEO Richard Kirkendall said the company was removing terms such as “coronavirus,” “COVID,” and “vaccine” from the company’s domain availability search tool.
Continue reading “Article: Domain Registrars Take Action Against Fraudulent COVID-19 Websites”

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Release: INVESTOR ALERT Law Offices of Howard G. Smith Continues Investigation of CIRCOR International, Inc. (CIR) on Behalf of Investors

Release

INVESTOR ALERT: Law Offices of Howard G. Smith Continues Investigation of CIRCOR International, Inc. (CIR) on Behalf of Investors

26 March 2020

Law Offices of Howard G. Smith continues its investigation on behalf of CIRCOR International, Inc. (“CIRCOR” or the “Company”) (NYSE: CIR) investors concerning the Company and its officers’ possible violations of federal securities laws.

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Article: How phantom shares on Wall Street threaten U.S. companies and investors

Article - Media

How phantom shares on Wall Street threaten U.S. companies and investors

Lucy Komisar

The Komisar Scoop, 26 March 2020

As stocks are in free fall, a scam run by the big banks/broker-dealers for the benefit of themselves and their hedge fund clients threatens to worsen the situation of large and small American companies and investors.

It’s when the bank/broker-dealers buy stocks, pocket the money and fail to deliver to clients the shares they are supposed to settle through the national stock clearing house. In another industry that might be called embezzling.

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Release: SHAREHOLDER ALERT Pomerantz Law Firm Investigates Claims On Behalf of Investors of LAIX Inc. – LAIX

Release

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of LAIX Inc. – LAIX

25 March 2020

Pomerantz LLP is investigating claims on behalf of investors of LAIX Inc. (“LAIX” or the “Company”) (NASDAQ: LAIX). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 7980.

The investigation concerns whether LAIX and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

Read full release.