Market Newsdesk

NEW YORK, Nov. 11, 2020 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of NextCure (“NextCure” or the “Company”) (NASDAQ: NXTC). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.

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

[Click here for information about joining the class action]

On January 13, 2020, NextCure disclosed in a U.S. Securities and Exchange Commission filing that Eli Lilly and Company had ended its 2018 research and development collaboration agreement with NextCure. 

On this news, NextCure’s stock price fell $4.70 per share, or 8.29%, to close at $52.00 per share on January 13, 2020. 

Then, on July 13, 2020, NextCure issued a press release announcing that the Company no longer planned to “advance the non-small cell lung cancer (NSCLC) and ovarian cancer cohorts in the stage 2 portion of the Simon 2-stage trial” for its NC318 immunomedicine product, citing “clinical response data” and “current enrollment criteria.”  NextCure concurrently announced the resignation of Kevin N. Heller from his role as the Company’s Chief Medical Officer. 

On this news, NextCure’s stock price fell $9.73 per share, or more than 54%, to close at $8.15 per share on July 13, 2020.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980

Chicago, Nov. 11, 2020 (GLOBE NEWSWIRE) — With record numbers of COVID-19 cases and deaths being reported across the country, the American Medical Association (AMA) today released a public service announcement (PSA) urging the general public to take three simple steps to help stop the spread of COVID-19: wash your hands frequently, practice physical distancing by staying at least six feet away from others and #MaskUp. The PSA is part of ongoing efforts by America’s physicians to urge individuals to take the necessary health and safety precautions this season to protect themselves, loved ones and the healthcare workers who are on the front lines handling the dramatic increase in cases.

“As we enter a third wave of a pandemic that is causing increased illness and deaths across our country, we implore everyone to follow these three-simple science- and evidence-based steps to help stop the spread of COVID-19: wash your hands, practice physical distancing and wear a mask,” said AMA President Susan R. Bailey, M.D. “Cases are at record highs across the country, and with the holidays quickly approaching, each of us must do everything possible to reduce the spread of COVID-19. Failing to do our part will prolong the suffering and disruption to our lives, and inevitably lead to more deaths of our friends, neighbors and loved ones.”

Physicians are particularly concerned by the latest spike in cases, especially as it coincides with the start of flu season. Over the past week, there have been more than 100,000 new COVID-19 cases per day. The significant increase in new cases worsens shortages of personal protective equipment (PPE), tests and testing supplies and further stretches hospitals’ intensive care unit (ICU) capacity in many states.

The national PSA deployed by the AMA is part of its ongoing effort to encourage the American people to take concrete steps to stop the spread of COVID-19. To find out more about the work of the AMA around COVID-19 and resources it is providing to physicians and patients visit: https://www.ama-assn.org/topics/coronavirus-covid-19.

AMA Media & Editorial
American Medical Association 
312-464-4430
[email protected]

NEW YORK, Nov. 11, 2020 (GLOBE NEWSWIRE) — Pomerantz LLP announces that a class action lawsuit has been filed against certain officers of Celsion Corporation (“Celsion” or the “Company”) (NASDAQ: CLSN). The class action, filed in United States District Court for the District of New Jersey, and docketed under 20-cv-015228, is on behalf of a class consisting of all persons other than Defendants who purchased or otherwise, acquired Celsion securities between November 2, 2015 and July 10, 2020, 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.

If you are a shareholder who purchased Celsion securities during the class period, you have until December 28, 2020, to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at [email protected] or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased. 

[Click here for information about joining the class action]

Celsion is an integrated development clinical stage oncology drug company that focuses on the development and commercialization of directed chemotherapies, DNA-mediated immunotherapy, and RNA-based therapies for the treatment of cancer.

Celsion’s lead product candidate is ThermoDox, a heat-activated liposomal encapsulation of doxorubicin that is in Phase III clinical development for treating primary liver cancer.

In February 2014, Celsion announced that the U.S. Food and Drug Administration (“FDA”) had reviewed and provided clearance for the Company’s planned pivotal, double-blind, placebo-controlled Phase III trial of ThermoDox in combination with radio frequency ablation (“RFA”) in primary liver cancer, also known as hepatocellular carcinoma (“HCC”), called the “OPTIMA Study.” The trial design was purportedly based on a comprehensive analysis of data from the Company’s Phase III HEAT Study, which purportedly demonstrated that treatment with ThermoDox resulted in a 55% improvement in overall survival (“OS”) in a substantial number of HCC patients that received an optimized RFA treatment.

The OPTIMA Study was expected to enroll 550 patients globally, with up to 100 sites in the U.S., Europe, China and Asia Pacific, to evaluate ThermoDox in combination with RFA. The primary endpoint for the trial was OS, and the statistical plan called for two interim efficacy analyses by an independent Data Monitoring Committee (“DMC”).

The complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading because they misrepresented and failed to disclose the following adverse facts pertaining to the Company’s business, operations, and prospects, which were known to Defendants or recklessly disregarded by them. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Defendants had significantly overstated the efficacy of ThermoDox; (ii) the foregoing significantly diminished the approval and commercialization prospects for ThermoDox; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.

On July 13, 2020, Celsion announced that “it ha[d] received a recommendation from the independent [DMC] to consider stopping the global Phase III OPTIMA Study of ThermoDox® in combination with [RFA] for the treatment of [HCC], or primary liver cancer.” According to the Company, “[t]he recommendation was made following the second pre-planned interim safety and efficacy analysis by the DMC on July 9, 2020,” which “found that the pre-specified boundary for stopping the trial for futility of 0.900 was crossed with an actual value of 0.903.”

On this news, Celsion’s stock price fell $2.29 per share, or 63.97%, to close at $1.29 per share on July 13, 2020.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980

TORONTO, Nov. 11, 2020 (GLOBE NEWSWIRE) — Mandalay Resources Corporation (“Mandalay” or the “Company”) (TSX: MND, OTCQB: MNDJF) is pleased to announce its financial results for the quarter ended September 30, 2020.

The Company’s unaudited condensed and consolidated interim financial results for the quarter ended September 30, 2020, together with its Management’s Discussion and Analysis (“MD&A”) for the corresponding period, can be accessed under the Company’s profile on www.sedar.com and on the Company’s website at www.mandalayresources.com. All currency references in this press release are in U.S. dollars except as otherwise indicated.

Third Quarter 2020 Highlights:

• Quarterly revenue of $49.8 million, highest since Q2 2016;
• Adjusted EBITDA of $26.7 million, the second highest in Company history;
• Free cash flow of $17.0 million and net cash flows from operating activities of $28.9 million; and
• Adjusted net income of $9.8 million, or $0.11 per share and consolidated net income of $0.6 million, or $0.01 per share.

Dominic Duffy, President and CEO of Mandalay, made the following comments:

“Mandalay Resources’ performance in the third quarter of 2020 was outstanding. We generated our highest quarterly revenue since the second quarter of 2016 and our quarterly adjusted EBITDA was the second highest on record – results not seen since the fourth quarter of 2012. The Company’s stellar financial performance was driven by another all-time record in quarterly adjusted EBITDA at Costerfield of $18.8 million, surpassing the $15.4 million record set last quarter. As a result, we generated a $26.7 million in adjusted EBITDA on a consolidated basis during the quarter, bringing the year-to-date total to $68.9 million – more than 400% higher than the $14.9 million amount in the same period last year. Our consolidated cash costs for the quarter were $826 per saleable gold equivalent ounce produced as compared to the $1,186 in the same period last year.”

Mr. Duffy continued, “The Company leveraged its third consecutive quarter of improved operational performance, coupled with high metal prices and consistent costs, to deliver strong free cash flow of $17.0 million. We increased our cash balance since the previous quarter by 57%, ending the third quarter of 2020 with a cash balance of $32.9 million, and are well-positioned to meet our target of becoming net debt neutral in 2021.”

Mr. Duffy added, “At Costerfield, the third quarter of 2020 was another quarter of high-quality production, with average processed grades of 11.5 g/t gold and 4.1% antimony. Costerfield recorded quarterly revenue of $27.9 million, a 22% improvement over last quarter, and an adjusted quarterly EBITDA margin of 67%. We anticipate further improvement during the fourth quarter and that Costerfield’s 2021 production will exceed 2020.”

Mr. Duffy continued, “Björkdal delivered another steady quarter of stable, profitable gold production with 11,044 ounces, which led to $21.9 million in revenue and $9.6 million in adjusted EBITDA. We expect Björkdal to improve operationally and financially in the coming quarters as we develop further into the higher-grade, lower levels of the Aurora zone.”

Mr. Duffy concluded, “Over the past nine months, Mandalay has demonstrated that it has turned the corner, both operationally and financially. With our operational turnaround complete at Costerfield, and three straight quarters of improved financial performance and cash generation, I am pleased with the Company’s current trajectory – we expect this trend to continue and are excited to finish 2020 strong.”

Thir


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Quarter


20


20


Financial


Summary

The following table summarizes the Company’s financial results for the three months and nine months ended September 30, 2020 and 2019:

	Three months ended Sept 30, 2020		Three months ended Sept 30, 2019		Nine months ended Sept 30, 2020 (3)		Nine months ended Sept 30, 2019
	$’000		$’000		$’000		$’000
Revenue	49,753		28,798		133,654		85,058
Cost of sales	21,418		21,610		59,984		65,755
Adjusted EBITDA (1)	26,727		5,555		68,901		14,906
Income from mine ops before depreciation, depletion	28,335		7,188		73,670		19,303
Adjusted net income (loss) (1)	9,823		(961	)	22,639		(5,346	)
Consolidated net income (loss)	635		(1,403	)	(5,413	)	(12,487	)
Capital expenditure	(12,083	)	(10,094	)	(32,684	)	(27,744	)
Total assets	283,379		252,042		283,379		252,042
Total liabilities	173,281		139,494		173,281		139,494
Adjusted net income (loss) per share (1)	0.11		(0.01	)	0.25		(0.07	)
Consolidated net income (loss) per share (2)	0.01		(0.02	)	(0.06	)	(0.16	)

¹Adjusted EBITDA, adjusted net income (loss) and adjusted net income (loss) per share are non-IFRS measures, defined at the end of this press release “Non-IFRS Measures”.
²As a result of share consolidation on July 2, 2019, the Company has restated its number of common shares and the income (loss) per share for all periods presented.
³Includes restated figures for the three months ended March 31, 2020 and June 30, 2020 related to a reduction of loss on financial instruments amounting to $1.5 million.

In the third quarter of 2020, Mandalay generated consolidated revenue of $49.8 million, 73% higher than in the third quarter of 2019. This increase is attributable to Mandalay selling 8,188 more gold equivalent ounces in the third quarter of 2020 compared to the third quarter of 2019. The Company’s realized gold price in the third quarter of 2020 also increased by 16% compared to the third quarter of 2019, and the realized price of antimony was flat year-over-year.
  
Consolidated cash cost per ounce of $826 decreased by 30% in the third quarter of 2020 compared to the third quarter of 2019, mainly due to higher production and slightly lower cost of sales. Cost of sales during the third quarter of 2020 versus the third quarter of 2019 were $0.5 million higher at Costerfield, offset by a $0.7 million reduction at Björkdal. Consolidated general and administrative costs were $0.03 million lower as compared to the prior year quarter.

Mandalay generated adjusted EBITDA of $26.7 million in the third quarter of 2020, 377% higher compared to the Company’s adjusted EBITDA of $5.6 million in the year ago quarter. Adjusted net income was $9.8 million in the third quarter of 2020, which excludes the $8.7 million fair value loss related to the gold hedges associated with the Syndicated Facility, and $0.5 million in care and maintenance costs, compared to an adjusted net loss of $1.0 million in the third quarter of 2019. Consolidated net income was $0.6 million for the third quarter of 2020, versus a net loss of $1.4 million in the third quarter of 2019. Mandalay ended the third quarter of 2020 with $32.9 million in cash and cash equivalents.

Thir


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Quarter


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20


Operational


Summary

The table below summarizes the Company’s capital expenditures and operational unit costs for the three and nine months ended September 30, 2020 and 2019:

		Three months ended Sept 30 , 20 20	Three months ended Sept 30 , 201 9	Nine months ended Sept 30 , 20 20	Nine months ended Sept 30 , 20 19
		$’000	$’000	$’000	$’000
Björkdal
	Gold produced (oz)	11,044	11,880	33,044	40,508
	Cash cost (1) per oz gold produced ($)	1,051	941	1,061	891
	All-in sustaining cost (1) per oz gold produced ($)	1,505	1,332	1,495	1,195
	Capital development	2,525	1,660	7,004	5,498
	Property, plant and equipment purchases	2,414	2,965	7,193	6,754
	Capitalized exploration	359	412	1,343	704
Costerfield
	Gold produced (oz)	11,749	3,103	32,722	10,509
	Antimony produced (t)	991	402	3,045	1,348
	Gold equivalent produced (oz)	14,620	4,745	43,049	17,557
	Cash cost (1) per oz gold eq. produced ($)	657	1,800	622	1,413
	All-in sustaining cost (1) per oz gold eq. produced ($)	1,088	2,714	987	2,190
	Capital development	3,956	3,736	10,632	10,191
	Property, plant and equipment purchases	1,568	521	3,065	3,073
	Capitalized exploration	1,241	783	3,308	1,315
Consolidated
	Gold equivalent produced (oz)	25,664	16,625	76,093	58,065
	Cash cost (1) per oz gold eq. produced ($)	826	1,186	812	1,049
	All-in sustaining cost (1) per oz gold eq. produced ($)	1,355	1,858	1,295	1,612
	Capital development	6,481	5,396	17,636	15,689
	Property, plant and equipment purchases	3,982	3,486	10,258	9,827
	Capitalized exploration (2)	1,620	1,212	4,790	2,228

¹Cash cost and all-in sustaining cost are non-IFRS measures. See “Non-IFRS Measures” at the end of this press release.
²Includes capitalized exploration relating to other non-core assets.

Björkdal gold mine,
Skellefteå
,
Sweden

Björkdal produced 11,044 ounces of gold in the third quarter of 2020 with cash and all-in sustaining costs of $1,051/oz and $1,505/oz, respectively, compared to cash and all-in sustaining costs of $941/oz and $1,332/oz, respectively, in the third quarter of 2019.

Costerfield gold-antimony mine, Victoria, Australia

Costerfield produced 11,749 ounces of gold and 991 tonnes of antimony for 14,620 gold equivalent ounces in the third quarter of 2020. Due to the higher gold equivalent ounces produced, cash and all-in sustaining costs at Costerfield decreased to $657/oz and $1,088/oz, respectively, compared to cash and all-in sustaining costs of $1,800/oz and $2,714/oz, respectively, in the third quarter of 2019.

Cerro Bayo silver-gold mine, Patagonia, Chile

In the third quarter of 2020, the Company spent $0.5 million on care and maintenance expenses at Cerro Bayo compared to $0.4 million in the third quarter of 2019. Cerro Bayo is currently subject to a binding option agreement between the Company and Equus Mining (“Equus”) pursuant to which Equus has an option to acquire Cerro Bayo. For further information see the Company’s October 8, 2019 press release.

Lupin
,
Nunavut
,
Canada

Care and maintenance spending at Lupin was $0.1 million during the third quarter of 2020, which was the same as in the third quarter of 2019. Reclamation spending at Lupin was $0.5 million during the third quarter of 2020 as compared to $0.8 million in the third quarter of 2019.

Challacollo, Chile

No key developments occurred during the third quarter of 2020. Further information regarding the definitive agreement signed with Aftermath Silver for the sale of Challacollo can be found in the Company’s November 12, 2019 press release.

La Quebrada
, Chile

The La Quebrada copper-silver project in Chile remained held for sale throughout the period.

COVID-19

The coronavirus (“COVID-19”) pandemic is present in all countries in which the Company operates, with cases being reported in Canada, Australia, Sweden and Chile. At this time, the Company has activated business continuity practices across all sites. Management will continue to monitor developments across all jurisdictions and will adjust its planning as necessary. More details are included in the Company’s press release dated March 20, 2020.

The Company currently expects this strong operating performance seen in the third quarter of 2020 to continue, however, the COVID-19 pandemic creates uncertainties. At this time, the Company is maintaining its existing 2020 production guidance but will continue to closely monitor the situation in both Australia and Sweden and will make adjustments, if necessary.

Conference Call

Mandalay’s management will be hosting a conference call for investors and analysts on November 12, 2020 at 8:00 AM (Toronto time).

Analysts and interested investors are invited to participate using the following dial-in numbers:

Participant Number:	(201) 689-8341
Participant Number (Toll free):	(877) 407-8289
Conference ID:	13713074

A replay of the conference call will be available until 11:59 PM (Toronto time), November 26, 2020 and can be accessed using the following dial-in number:

Encore Toll Free Dial-in Number:	(877) 660-6853
Encore ID:	13713074

About Mandalay Resources Corporation:

Mandalay Resources is a Canadian-based natural resource company with producing assets in Australia and Sweden, care and maintenance and development projects in Chile. The Company is focused on growing production at its gold and antimony operation in Australia, and gold production from its operation in Sweden to generate near-term cash flow.

Forward-Looking Statements

This news release contains “forward-looking statements” within the meaning of applicable
securities laws, including statements regarding the Company’s
anticipated performance over the balance of 2020
and into 2021.
Readers
are cautioned not to place undue reliance on forward-looking statements.
Actual results and developments may differ materially from those contemplated by these
statements depending on, among other things, changes in commodity prices and general market
and economic conditions. The factors identified above are not intended to represent a complete list
of the factors that could affect Mandalay. A description of additional risks that could result in actual
results and developments differing from those contemplated by forward-looking statements in this
news release can be found under the heading “Risk Factors” in Mandalay’s annual information form
dated March 30, 2020, a copy of which is available under Mandalay’s profile at www.sedar.com. In
addition, there can be no assurance that any inferred resources that are discovered as a result of
additional drilling will ever be upgraded to proven or probable reserves. Although Mandalay has
attempted to identify important factors that could cause actual actions, events or results to differ
materially from those described in forward-looking statements, there may be other factors that
cause actions, events or results not to be as anticipated, estimated or intended. There can be no
assurance that forward-looking statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such statements. Accordingly, readers
should not place undue reliance on forward-looking statements.

Non-IFRS Measures

This news release may contain references to adjusted EBITDA, adjusted net income, free cash flow, cash cost per saleable ounce of gold equivalent produced, cash cost per saleable ounce of silver produced net of gold credits and all-in sustaining cost all of which are non-IFRS measures and do not have standardized meanings under IFRS. Therefore, these measures may not be comparable to similar measures presented by other issuers.

Management uses adjusted EBITDA and free cash flow as measures of operating performance to assist in assessing the Company’s ability to generate liquidity through operating cash flow to fund future working capital needs and to fund future capital expenditures, as well as to assist in comparing financial performance from period to period on a consistent basis. Management uses adjusted net income in order to facilitate an understanding of the Company’s financial performance prior to the impact of non-recurring or special items. The Company believes that these measures are used by and are useful to investors and other users of the Company’s financial statements in evaluating the Company’s operating and cash performance because they allow for analysis of its financial results without regard to special, non-cash and other non-core items, which can vary substantially from company to company and over different periods.

The Company defines adjusted EBITDA as income from mine operations, net of administration costs, and before interest, taxes, non-cash charges/(income), intercompany charges and finance costs. The Company defines adjusted net income as net income before special items. Special items are items of income and expense that are presented separately due to their nature and, in some cases, expected infrequency of the events giving rise to them. A reconciliation between adjusted EBITDA and adjusted net income, on the one hand, and consolidated net income, on the other hand, is included in the MD&A.

The Company defines free cash flow as a measure of the Corporation’s ability to generate and manage liquidity. It is calculated starting with the net cash flows from operating activities (as per IFRS) and then subtracting capital expenditures and lease payments. Refer to Section 1.2 of MD&A for a reconciliation between free cash flow and net cash flows from operating activities.

For Costerfield, saleable equivalent gold ounces produced is calculated by adding to saleable gold ounces produced, the saleable antimony tonnes produced times the average antimony price in the period divided by the average gold price in the period. The total cash operating cost associated with the production of these saleable equivalent ounces produced in the period is then divided by the saleable equivalent gold ounces produced to yield the cash cost per saleable equivalent ounce produced. The cash cost excludes royalty expenses. Site all-in sustaining costs include total cash operating costs, sustaining mining capital, royalty expense, accretion and depletion. Sustaining capital reflects the capital required to maintain each site’s current level of operations. The sites the all-in sustaining cost per ounce of saleable gold equivalent in a period equals the all-in sustaining cost divided by the saleable equivalent gold ounces produced in the period.

For Björkdal, the total cash operating cost associated with the production of saleable gold ounces produced in the period is then divided by the saleable gold ounces produced to yield the cash cost per saleable gold ounce produced. The cash cost excludes royalty expenses. Site all-in costs include total cash operating costs, royalty expense, accretion, depletion, depreciation and amortization. Site all-in sustaining costs include total cash operating costs, sustaining mining capital, royalty expense, accretion and depletion. Sustaining capital reflects the capital required to maintain each site’s current level of operations. The sites the all-in sustaining cost per ounce of saleable gold equivalent in a period equals the all-in sustaining cost divided by the saleable equivalent gold ounces produced in the period.

For the Company as a whole, cash cost per saleable gold equivalent ounce is calculated by summing the gold equivalent ounces produced by each site and dividing the total by the sum of cash operating costs at the sites. Consolidated cash cost excludes royalty and corporate level general and administrative expenses. This definition was updated this quarter to exclude corporate general and administrative expenses to better align with industry standard. All-in sustaining cost per saleable ounce gold equivalent in the period equals the sum of cash costs associated with the production of gold equivalent ounces at all operating sites in the period plus corporate overhead expense in the period plus sustaining mining capital, royalty expense, accretion, depletion, depreciation and amortization, divided by the total saleable gold equivalent ounces produced in the period. A reconciliation between cost of sales and cash costs, and also cash cost to all-in sustaining costs are included in the MD&A.

Fo


r Further Information:

Dominic Duffy
President and Chief Executive Officer

Edison Nguyen
Manager, Analytics and Investor Relations

Contact:  
(647) 260-1566

NEW YORK, Nov. 11, 2020 (GLOBE NEWSWIRE) — Pomerantz LLP announces that a class action lawsuit has been filed against Las Vegas Sands Corporation (“Las Vegas Sands” or the “Company”) (NYSE: LVS) and certain of its officers. The class action, filed in United States District Court for the District of Nevada, and docketed under 20-cv-01958, is on behalf of a class consisting of all persons other than Defendants who purchased or otherwise, acquired Las Vegas Sands securities between February 27, 2016 and September 15, 2020, 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.

If you are a shareholder who purchased Las Vegas Sands securities during the class period, you have until December 21, 2020, to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at [email protected] or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased. 

[Click here for information about joining the class action]

Las Vegas Sands was founded in 1988 and is based in Las Vegas, Nevada. The Company, together with its subsidiaries, develops, owns, and operates integrated resorts in Asia and the U.S., which offer various amenities.

Las Vegas Sands’ properties include, among others, the Marina Bay Sands resort in Singapore, which operates a casino.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that:  (i) weaknesses existed in Marina Bay Sands’ casino control measures pertaining to fund transfers; (ii) the Marina Bay Sands’ casino was consequently prone to illicit fund transfers that implicated, among other issues, the transfer of customer funds to unauthorized persons and potential breaches in the Company’s anti-money laundering procedures; (iii) the foregoing foreseeably increased the risk of litigation against the Company, as well as investigation and increased oversight by regulatory authorities; (iv) Las Vegas Sands had inadequate disclosure controls and procedures; (v) consequently, all the foregoing issues were untimely disclosed; and (vi) as a result, the Company’s public statements were materially false and misleading at all relevant times.

On July 19, 2020, Bloomberg News reported that Las Vegas Sands had settled a lawsuit brought by a former patron, Wang Xi (“Xi”), meeting his demand for a S$9.1 million ($6.5 million) payment. Xi reportedly sued the Marina Bay Sands casino in 2019 to recover S$9.1 million of his funds that the casino allegedly transferred to other patrons from his casino deposit accounts in 2015 without his approval, which triggered a probe into the casino by local authorities. Bloomberg News also reported that the U.S. Department of Justice (“DOJ”) “is also scrutinizing whether anti-money laundering procedures had been breached in the way the Singapore casino handles high rollers.”

On this news, Las Vegas Sands’ stock price fell $1.41 per share, or 2.9%, to close at $47.28 per share on July 20, 2020.

Then, on September 16, 2020, Bloomberg reported that Marina Bay Sands “has hired a law firm to conduct a new investigation into employee transfers of more than $1 billion in gamblers’ money to third parties[.]”  The article quoted the Singapore Casino Regulatory Authority (“CRA”) as stating that “there were weaknesses in [Marina Bay Sands’] casino control measures pertaining to fund transfers[.]”

On this news, Las Vegas Sands’ stock price fell $2.18 per share, or 4.2%, to close at $49.67 per share on September 16, 2020.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]

BURLINGTON, Mass., Nov. 11, 2020 (GLOBE NEWSWIRE) — LeMaitre Vascular, Inc. (Nasdaq:LMAT) announced today that David Roberts, President, will present at Jefferies Virtual London Healthcare Conference on Wednesday, November 18, 2020, at 12:25 PM ET.

LeMaitre Vascular is a provider of devices, implants and services for the treatment of peripheral vascular disease, a condition that affects more than 200 million people worldwide. The Company develops, manufactures and markets disposable and implantable vascular devices to address the needs of its core customer, the vascular surgeon Additional information can be found at www.lemaitre.com.

Contact:

LeMaitre Vascular, Inc.
Sandra Millar
+1-781-425-1686
[email protected]