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Vuzix to Discuss the Growing Augmented Reality Market and its Industry Leading Smart Glasses at the Benzinga Global Small Cap Conference

PR Newswire

ROCHESTER, N.Y., Dec. 4, 2020 /PRNewswire/ — Vuzix® Corporation (NASDAQ: VUZI), (“Vuzix” or, the “Company”), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, is pleased to announce that the Company will be presenting at the Benzinga Global Small Cap Conference, being held virtually on December 8-9, 2020.

Vuzix Chief Executive Officer and President Paul Travers is scheduled to present on Wednesday, December 9, 2020 at 10:15 AM EST.  To register for the conference please use this link for investor registration:

https://events.benzinga.com/registration-page?gclid=CjwKCAiA7939BRBMEiwA-hX5J1SxOy-G2SL-831-HJWhZKCwt7Fafavk78_DsMa2N6kJLWl5dXEyfhoC-bQQAvD_BwE 

About Vuzix Corporation
Vuzix is a leading supplier of Smart-Glasses and Augmented Reality (AR) technologies and products for the consumer and enterprise markets. The Company’s products include personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and augmented reality. Vuzix holds 179 patents and patents pending and numerous IP licenses in the Video Eyewear field. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2020 and several wireless technology innovation awards among others. Founded in 1997, Vuzix is a public company (NASDAQ: VUZI) with offices in Rochester, NY, Oxford, UK, and Tokyo, Japan. For more information, visit Vuzix website, Twitter and Facebook pages.

Media and Investor Relations Contact:

Ed McGregor, Director of Investor Relations, Vuzix Corporation ed_mcgregor@vuzix.com Tel: (585) 359-5985
Vuzix Corporation, 25 Hendrix Road, Suite A, West Henrietta, NY 14586 USA,
Investor Information – IR@vuzix.com www.vuzix.com

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SOURCE Vuzix Corporation

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The Law Offices of Frank R. Cruz Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Alibaba Group Holding Limited (BABA)

PR Newswire

LOS ANGELES, Dec. 4, 2020 /PRNewswire/ — The Law Offices of Frank R. Cruz reminds investors of the upcoming January 12, 2021deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Alibaba Group Holding Limited (“Alibaba” or the “Company”) (NYSE: BABA) securities between October 21, 2020 and November 3, 2020 inclusive (the “Class Period”).

If you are a shareholder who suffered a loss, click here to participate.

On July 20, 2020, Ant Group announced that it had begun the process of a concurrent initial public offering (“IPO”) on the Shanghai and Hong Kong stock exchanges.

On October 26, 2020, Ant Group priced its IPO and was set to raise $34.5 billion, making it the largest public offering in history.

On November 2, 2020, Financial Times reported that Chinese regulators had met with Ant Group’s controller Jack Ma, executive chairman Eric Jing, Chief Executive Officer Simon Hu. The article stated that, though regulators did not provide details, “the Chinese word used to describe the interview – yuetan – generally indicates a dressing down by authorities.” The article also included a statement from Ant Group that it will “implement the meeting opinions in depth.”

On November 3, 2020, the IPO was suspended because Ant Group “may not meet listing qualifications or disclosure requirements due to material matters” related to the meeting with regulators the previous day and “the recent changes in the Fintech regulatory environment.”

On this news, the Company’s share price fell $25.27, or 8%, to close at $285.57 per share on November 3, 2020, on unusually heavy trading volume.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that Ant Group did not meet listing qualifications or disclosure requirements for certain material matters; (2) that certain impending changes in the Fintech regulatory environment would impact Ant Group’s business; (3) that, as a result of the foregoing, Ant Group’s IPO was reasonably likely to be suspended; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Follow us for updates on Twitter: twitter.com/FRC_LAW.

If you purchased or otherwise acquired Alibaba securities during the Class Period, you may move the Court no later than January 12, 2021to request appointment as lead plaintiff in this putative class action lawsuit.  To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action.  If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com.  If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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SOURCE The Law Offices of Frank R. Cruz, Los Angeles

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The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Turquoise Hill Resources Ltd. (TRQ) Investors

PR Newswire

LOS ANGELES, Dec. 4, 2020 /PRNewswire/ — The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired Turquoise Hill Resources Ltd. (“Turquoise Hill” or the “Company”) (NYSE: TRQ) common stock between July 17, 2018 and July 31, 2019, inclusive (the “Class Period”). Turquoise Hill investors have until December 14, 2020 to file a lead plaintiff motion.

If you are a shareholder who suffered a loss, click here to participate.

On February 26, 2019, the Company announced in a press release that, while “the [Oyu Tolgoi] project cost was expected to remain within the $5.3 billion budget,” a review had determined that “there was an increasingly likely risk of a further delay to sustainable first production beyond Q3’21.” Turquoise Hill attributed the “likely risk” to productivity setbacks in completing Shaft 2 and “challenging ground conditions that have had a direct impact on the project’s critical path.”

On this news, the Company’s share price fell $0.27, or approximately 13%, to close at $1.83 per share on February 27, 2019, thereby injuring investors.

Then, on July 15, 2019, Turquoise Hill announced that sustainable first production from the underground development of Oyu Tolgoi would now be delayed by another 9 to 21 months until May 2022 to June 2023. The Company also stated that “the development capital spend for the project may increase by $1.2 to $1.9 billion over the $5.3 billion previously disclosed.”

On this news, the Company’s share price fell $0.47, or 44%, to close at $0.60 per share on July 16, 2019, thereby injuring investors further.

Then, on July 31, 2019, after the market closed, Turquoise Hill disclosed that it had taken a $600 million impairment charge and a significant “deferred income tax recognition adjustment” tied to the Oyu Tolgoi project, and that it had suffered a loss in the second quarter.

On this news, the Company’s share price fell $0.05, or over 8%, to close at $0.53 per share on August 1, 2019, thereby injuring investors further.

The complaint filed alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the progress of underground development of Oyu Tolgoi was not proceeding as planned; (2) that there were significant undisclosed underground stability problems that called into question the design of the mine and the projected cost and timing of production; (3) the Company’s publicly released estimates of the cost, date of completion, and dates for production from the underground mine were not realizable; (4) the development capital required for the underground development of Oyu Tolgoi would cost significantly more than a billion dollars over what Turquoise Hill had represented; (5) the Company would require further financing and/or equity to complete the project; and (6) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Follow us for updates on Twitter: twitter.com/FRC_LAW.

If you purchased Turquoise Hill securities during the Class Period, you may move the Court no later than December 14, 2020to ask the Court to appoint you as lead plaintiff.  To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class.  If you purchased Turquoise Hill securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com.  If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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SOURCE The Law Offices of Frank R. Cruz, Los Angeles

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DEADLINE ALERT for HPQ, ICPT, and NVCN: The Law Offices of Frank R. Cruz Reminds Investors of Class Actions on Behalf of Shareholders

LOS ANGELES, Dec. 04, 2020 (GLOBE NEWSWIRE) — The Law Offices of Frank R. Cruz reminds investors that class action lawsuits have been filed on behalf of shareholders of the following publicly-traded companies.  Investors have until the deadlines listed below to file a lead plaintiff motion.

Investors suffering losses on their investments are encouraged to contact The Law Offices of Frank R. Cruz to discuss their legal rights in these class actions at 310-914-5007 or by email to fcruz@frankcruzlaw.com.

HP Inc. (NYSE: HPQ)
Class Period:   November 6, 2015 – June 21, 2016
Lead Plaintiff Deadline: January 4, 2021

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose: (1) that HP’s channel inventory management and sales practices resulted in the sale of supplies to customers that did not need or want the product in order to artificially increase revenues and profits; (2) that HP’s channel inventory management and sales practices resulted in the sale of supplies to customers outside of designated regions at unsustainable discounts in order to artificially increase revenues and profits; (3) that HP’s channel inventory management and sales practices resulted in the sale of supplies at steep discounts to customers to encourage those customers to sell the supplies further down the supply channel, out of HP’s inventory management metrics; and (4) that, as a result of the foregoing, defendants’ statements about the Company’s business condition and prospects were materially false and misleading when made.

Intercept Pharmaceuticals, Inc. (NASDAQ: ICPT)
Class Period:   September 28, 2019 – October 7, 2020
Lead Plaintiff Deadline: January 4, 2021

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Defendants downplayed the true scope and severity of safety concerns associated with Ocaliva’s use in treating PBC; (2) the foregoing increased the likelihood of an FDA investigation into Ocaliva’s development, thereby jeopardizing Ocaliva’s continued marketability and the sustainability of its sales; (3) any purported benefits associated with OCA’s efficacy in treating NASH were outweighed by the risks of its use; (4) as a result, the FDA was unlikely to approve the Company’s NDA for OCA in treating patients with liver fibrosis due to NASH; and (5) as a result of all the foregoing, the Company’s public statements were materially false and misleading at all relevant times.

Neovasc Inc. (NASDAQ: NVCN)
Class Period: October 10, 2018 – October 27, 2020
Lead Plaintiff Deadline: January 5, 20201

The complaint filed alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the results of COSIRA, Neovasc’s clinical study for the Reducer, contained imbalances in missing information present in the control group versus the treatment group, including significant missing information for secondary endpoints but none for the primary endpoint; (2) that the imbalance in missing information indicated that control subjects were aware of their treatment assignment (not blinded) and less inclined to participate in additional data collection; (3) that blinding is critical when studying a placebo-responsive condition such as angina; (4) that the lack of blinding assessment made the primary endpoint difficult to interpret; (5) that, as a result of the foregoing, the FDA was reasonably likely to require additional premarket clinical data; (6) that, as a result, the Company’s PMA for Reducer was unlikely to be approved without additional clinical data; and (7) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Follow us for updates on Twitter: twitter.com/FRC_LAW.

To be a member of these class actions, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about these class actions, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com.   If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts

The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
fcruz@frankcruzlaw.com
www.frankcruzlaw.com



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World Christian Leadership Conference – A Call to All Christian Leaders and Believers

Rally of Hope to Call to All Christian Leaders and Believers: The People of God Must Boldly Stand for Unity and Healing

Washington, DC, Dec. 04, 2020 (GLOBE NEWSWIRE) — In response to days of turmoil and division in America, the American Clergy Leadership Conference is hosting a two-day online Rally of Hope for the World Christian Leadership Conference to revive and deepen unity among Christian leaders around the world. More than 7,000 clergy have registered for the program, which will also be streamed to an expected global audience of more than 100,000.

The World Christian Leadership Conference Rally of Hope will convene online as a two-day virtual event at 12:00 PM (EST) on Friday, December 4, 2020. It will continue at 12:00 PM on Saturday, December 5, 2020, and end with Dr. Hak Ja Han Moon‘s keynote message at 6:00 PM (EST).

Featured speakers include Bishop Noel Jones of the City of Refuge Los Angeles; Pastor Paula White, founder and pastor of the City of Destiny and spiritual advisor to President Trump, and mega-church pastor, Bishop Don Meares of Evangel Cathedral, among other prominent Christian and spiritual leaders.

They are joining together to pray for peace and calling faith leaders to overcome the divisions of race, religion and culture bringing healing and unity to America and the world.  Bishop Noel Jones said, “Dr. Moon has a special gift from God to bring unity, because she genuinely loves all people from every background and considers them family. That’s why I was inspired to call her ‘The Mother of Peace’.” 

Dr. Moon founded the World Christian Leadership Conference in December 2019, and participated with hundreds of clergy at its first global convocation in New York and New Jersey. Her extensive World Summit series and speaking tour throughout Africa and all continents in 2018-2019 touched millions, including a special visit to Goree Island in Senegal where slaves were sent to the Americas. Her tearful prayers on that site called for a healing of racial division led by Christian believers.

At events in 2020, religious leaders have gathered to discuss ways to find solutions together to help lead people to resolve world problems. One of the great hopes and expectations for the World Christian Leadership Conference, Dr. Moon has said, is for its members and allies to “become the righteous people, clergymen and clergywomen, and leaders who can guide people to become children of our Heavenly Parent.”

WCLC Executive Committee organizers, Archbishop G. Augustus Stallings, Jr. of Imani Temple and Dr. Luonne Rouse ACLC Co-Chairman predict another “great awakening is occurring in the world today.

Dr. Moon and other global peacemakers face a Goliath of a task in restoring a God-centered America, “but God would not allow a Goliath to be in our path if He did not know there was a David in each of us,” Dr. Luonne Rouse, co-chair of the American Clergy Leadership Conference, said in February at an event for the World Christian Leadership Conference.



Registration: https://wclc.org/

https://www.aclc.info/

Details of the Dec. 4-5 convocation sessions are available at WCLC.org.

For press inquiries, contact: Joshua Holmes at josh@yclc.info (714) 398- 9602.

Attachment 



Joshua Holmes
American Clergy Leadership Conference
(714) 398-9602
Josh@yclc.info

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Barnes Group Inc. Named One of America’s Most Responsible Companies 2021

Barnes Group Inc. Named One of America’s Most Responsible Companies 2021

BRISTOL, Conn.–(BUSINESS WIRE)–
Barnes Group Inc. (NYSE: B), a global provider of highly engineered products, differentiated industrial technologies, and innovative solutions, today announced that it has been named one of “America’s Most Responsible Companies 2021” by Newsweek.

The list of America’s Most Responsible Companies was issued by Newsweek, in partnership with Statista – one of the largest statistics database companies worldwide. Companies included on the list were selected based on key Environmental, Social, and Governance (ESG) performance indicators, published sustainability reports, and survey results from 7,500 U.S. residents.

“We are extremely honored to be recognized for the progress that Barnes Group continues to make to become a more sustainable, socially responsible, and inclusive company,” said Patrick J. Dempsey, President and Chief Executive Officer of Barnes Group Inc. “This recognition is a reflection of the work that our ESG Committee continues to drive forward with full support of the senior leadership team and our Board of Directors, and is a testament to the commitment of our people to further advance our ESG initiatives consistent with the Barnes Group Corporate Values.”

Newsweek’s full list of the 400 companies selected as “America’s Most Responsible Companies 2021” can be found here.

About Barnes Group

Barnes Group Inc. (NYSE: B) is a global provider of highly engineered products, differentiated industrial technologies, and innovative solutions, serving a wide range of end markets and customers. Its specialized products and services are used in far-reaching applications including aerospace, transportation, manufacturing, automation, healthcare, and packaging. Barnes Group’s skilled and dedicated employees around the globe are committed to the highest performance standards and achieving consistent, sustainable profitable growth. For more information, visit www.BGInc.com.

Barnes Group Inc.

William Pitts

Director, Investor Relations

860.583.7070

KEYWORDS: Connecticut United States North America

INDUSTRY KEYWORDS: Engineering Chemicals/Plastics Aerospace Manufacturing Other Manufacturing Steel

MEDIA:

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Hitachi Vantara Named a Leader in the 2020 Gartner Magic Quadrant for Primary Storage Arrays for Second Consecutive Year

Hitachi Vantara Receives Placement for Completeness of Vision and Ability to Execute

PR Newswire

SANTA CLARA, Calif., Dec. 4, 2020 /PRNewswire/ — Hitachi Vantara, the digital infrastructure and solutions subsidiary of Hitachi, Ltd. (TSE: 6501), today announced it has once again been named a Leader in Gartner’s 2020 Magic Quadrant for Primary Storage Arrays based on Gartner’s evaluation of the Hitachi Virtual Storage Platform (VSP) product portfolio.

Products evaluated include the high-performance Hitachi VSP 5000 series – which scored high marks in the companion 2020 Gartner Critical Capabilities for Solid State Arrays report across all use cases for strength in performance and manageability – as well as the all-flash VSP F Series arrays, hybrid VSP G Series arrays, and the VSP E990 all-flash array for midsize enterprises.

From high-end to midrange, Hitachi Vantara’s VSP systems share a common software architecture and operating system that provides customers with a simplified and unified storage management and protection experience. Combined with Hitachi’s AI-powered software tools in Hitachi Ops Center, it provides  improved IT operational efficiencies and lowered administration and support costs. Additionally, all Hitachi VSP storage products are backed by Hitachi Vantara’s signature 100% data availability guarantee for businesses of all sizes.

“We are honored to again be recognized as a Leader for the second year of the Gartner Magic Quadrant for Primary Storage,” said Bobby Soni, president, Digital Infrastructure, Hitachi Vantara. “Hitachi Vantara offers best-in-class storage solutions such as the VSP 5000 series, the world’s fastest NVMe flash array, and the VSP E990 that delivers affordable enterprise-quality storage for midsize businesses. Our continued investment in technology innovation across our infrastructure portfolio means clients can depend on us to deliver the solutions their businesses need for any workload or operational model from edge to core to cloud.”

Download a complimentary copy of the 2020 Gartner Magic Quadrant for Primary Storage at https://www.hitachivantara.com/ext/gartner-magic-quadrant-for-primary-storage-2020.html (registration required).

Connect with Hitachi Vantara:

Gartner Disclaimer
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About Hitachi Vantara
Hitachi Vantara, a wholly-owned subsidiary of Hitachi, Ltd., guides our customers from what’s now to what’s next by solving their digital challenges. Working alongside each customer, we apply our unmatched industrial and digital capabilities to their data and applications to benefit both business and society. More than 80% of the Fortune 100 trust Hitachi Vantara to help them develop new revenue streams, unlock competitive advantages, lower costs, enhance customer experiences, and deliver social and environmental value. Visit us at www.hitachivantara.com.

About Hitachi, Ltd.

Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, is focused on its Social Innovation Business that combines information technology (IT), operational technology (OT) and products. The company’s consolidated revenues for fiscal year 2019 (ended March 31, 2020) totaled 8,767.2 billion yen ($80.4 billion), and it employed approximately 301,000 people worldwide. Hitachi drives digital innovation across five sectors – Mobility, Smart Life, Industry, Energy and IT – through Lumada, Hitachi’s advanced digital solutions, services, and technologies for turning data into insights to drive digital innovation. Its purpose is to deliver solutions that increase social, environmental and economic value for its customers. For more information on Hitachi, please visit the company’s website at https://www.hitachi.com.

HITACHI is a trademark or registered trademark of Hitachi, Ltd. All other trademarks, service marks, and company names are properties of their respective owners.

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SOURCE Hitachi Vantara Corporation

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PGEN Final Deadline: Bronstein, Gewirtz & Grossman, LLC Notifies Precigen, Inc. f/k/a Intrexon Corporation Shareholders of Class Action and Lead Plaintiff Deadline: December 4, 2020

PGEN Final Deadline: Bronstein, Gewirtz & Grossman, LLC Notifies Precigen, Inc. f/k/a Intrexon Corporation Shareholders of Class Action and Lead Plaintiff Deadline: December 4, 2020

NEW YORK–(BUSINESS WIRE)–
Attorney Advertising– Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Precigen, Inc. f/k/a Intrexon Corporation (“Precigen” or the “Company”) (NASDAQ: PGEN) (NASDAQ: XON) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Precigen securities between May 10, 2017 and September 25, 2020, inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/pgen.

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and specifically failed to disclose that: (1) the Company was using pure methane as feedstock for its announced yields for its methanotroph bioconversion platform instead of natural gas; (2) yields from natural gas as a feedstock were substantially lower than the aforementioned pure methane yields; (3) due to the substantial price difference between pure methane and natural gas, pure methane was not a commercially viable feedstock; (4) the Company’s financial statements for the quarter ended March 31, 2018 were false and could not be relied upon; (5) the Company had material weaknesses in its internal controls over financial reporting; (6) the Company was under investigation by the SEC since October 2018; and (7) as a result of the foregoing, defendants’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/pgen or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Precigen you have until December 4, 2020 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.

Bronstein, Gewirtz & Grossman, LLC

Peretz Bronstein or Yael Hurwitz

212-697-6484 | info@bgandg.com

KEYWORDS: United States North America New York

INDUSTRY KEYWORDS: Legal Professional Services

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Banco Popular de Puerto Rico Named “Bank of the Year in Puerto Rico” for the Seventh Consecutive Year by Financial Times’ the Banker Magazine

Banco Popular de Puerto Rico Named “Bank of the Year in Puerto Rico” for the Seventh Consecutive Year by Financial Times’ the Banker Magazine

SAN JUAN, Puerto Rico–(BUSINESS WIRE)–
Popular, Inc. (NASDAQ: BPOP) announced Banco Popular de Puerto Rico (BPPR), its principal banking subsidiary, was named “Bank of the Year Puerto Rico” by The Banker, The Financial Times’ international banking magazine. This marks the seventh consecutive year BPPR has received this prestigious recognition.

The award was announced yesterday by The Banker during the virtual awards ceremony. According to The Banker, 2020 has been an incredibly tough year, as the COVID-19 pandemic brought the world to a standstill. The difficult operating environment makes this year’s winners of The Banker’s Bank of the Year Awards even more deserving of the Bracken trophy. Not only have they successfully managed the pressures of running their operations remotely, but they have also taken care of their customers and staff, responding rapidly to their needs and stepping up support in these demanding times.

The Banker highlighted BPPR’s expansion mode for the past few years with a strategic acquisition from Wells Fargo to bolster its auto loan business. BPPR’s efforts to support customers, acting decisively at the onset of the crisis was also recognized. Under the Small Business Administration (SBA) Paycheck Protection Program (PPP), the bank secured approval for more than 29,000 loans for small and medium-sized businesses for a total value of more than $1.4bn. These include $240m for clients in the mainland US, $27m for clients in the US Virgin Islands and $1.2bn that were disbursed locally, in Puerto Rico. BPPR originated 63% of the PPP loans (part of SBA’s Paycheck Protection Program) in Puerto Rico.

BPPR’s focus on supporting communities was also acknowledge as the bank secured $200,000 in grants for local non-profits working with small businesses from the Federal Home Loan Bank of New York, a bank that supports community lenders.

At a time when customers needed it most, BPPR’s technology was in place to deliver digital banking channels that helped local businesses and consumers in general. Between April and May this year, sign-ups to Banco Popular’s app, Mi Banco, grew by 40% compared to the same period in 2019 – an increase that the bank usually sees over a 12-month period.

“This has been an extraordinary year by any measure. We have over the course of our 125 plus years as an institution, seen our share of disaster recovery and challenges. Our people have always enabled us to overcome and remain focused and successful in delivering for our customers,” said Ignacio Alvarez, President and CEO of Popular, Inc. “The foundational steps we have taken to rebuild, reinforce and maintain long-term sustainability, have positioned our institution for continued growth. We are very appreciative to The Banker for this prestigious recognition and for highlighting our efforts.”

The Banker, is a financial intelligence magazine, founded in 1926 and provides international bank ratings. Recognized as the industry standard for banking excellence, The Banker’s Bank of the Year awards is contested by the world’s leading financial institutions, with winners chosen across Africa, Asia-Pacific, Central & Eastern Europe, Latin America, the Middle East, North America and Western Europe. This marks the 21st year of the rankings and awards.

About Popular, Inc.

Popular, Inc. is the leading financial institution by both assets and deposits in Puerto Rico and ranks among the top 50 U.S. bank holding companies by assets. Founded in 1893, Banco Popular de Puerto Rico, Popular’s principal subsidiary, provides retail, mortgage and commercial banking services in Puerto Rico and the U.S. Virgin Islands. Popular also offers in Puerto Rico auto and equipment leasing and financing, investment banking, broker-dealer and insurance services through specialized subsidiaries. In the mainland United States, Popular provides retail, mortgage and commercial banking services through its New York-chartered banking subsidiary, Popular Bank, which has branches located in New York, New Jersey and Florida.

Popular, Inc. Media Relations:

Teruca Rullán, 787-281-5170 or 917-679-3596 (mobile)

Senior Vice President, Corporate Communications

KEYWORDS: Caribbean Puerto Rico United States North America New York

INDUSTRY KEYWORDS: Small Business Banking Professional Services Finance

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Moody’s Upgrades ITT Inc. Ratings

Moody’s Upgrades ITT Inc. Ratings

WHITE PLAINS, N.Y.–(BUSINESS WIRE)–
Moody’s Investors Service (“Moody’s”) upgraded its rating for ITT Inc. (NYSE: ITT) and its subsidiaries, including the company’s senior unsecured debt rating to Baa2 from Baa3, and its short-term commercial paper rating to Prime-2 (P-2) from Prime-3 (P-3).

In their press release, Moody’s noted the ratings upgrades reflect Moody’s expectation that ITT will sustain improvements in profitability and free cash flows while maintaining relatively low funded debt levels, a strong liquidity profile and well-balanced financial policies.

Moody’s stated further the ratings upgrades also reflect their expectation that ITT’s earnings and cash flow resiliency amid the coronavirus pandemic will sustain.

A link to the Moody’s press release can be found here.

About ITT

ITT is a diversified leading manufacturer of highly engineered critical components and customized technology solutions for the transportation, industrial, and oil and gas markets. Building on its heritage of innovation, ITT partners with its customers to deliver enduring solutions to the key industries that underpin our modern way of life. ITT is headquartered in White Plains, N.Y., with employees in more than 35 countries and sales in approximately 125 countries. The Company generated 2019 revenues of $2.85 billion. For more information, visit www.itt.com.

Investors:

Emmanuel Caprais

+1 914-641-2030

emmanuel.capraisIR@itt.com

 

KEYWORDS: United States North America New York

INDUSTRY KEYWORDS: Other Manufacturing Textiles Other Transport Steel Packaging Engineering Chemicals/Plastics Air Automotive Manufacturing Transport Aerospace Manufacturing

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