Best Rate Direct

NEW YORK, Jan. 21, 2022 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of FTC Solar, Inc. (“FTC Solar” or the “Company”) (NASDAQ: FTCI). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.

The investigation concerns whether FTC Solar 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 14, 2022, Bank of America downgraded FTC shares to Underperform from Neutral, opining that the Company is “among the [companies] most exposed to potential delay dynamics associated with utility-scale solar projects in the U.S. for 2022,” noting that nearly all of FTC’s revenue is derived from the U.S., with international projects expected to contribute meaningfully only from 2023 and beyond.

On this news, FTC Solar’s stock price fell $0.95 per share, or 15.63%, to close at $5.13 per share on January 14, 2022.

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

rswilloughby@pomlaw.com

888-476-6529 ext. 7980

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SOURCE Pomerantz LLP

NEW YORK, Jan. 21, 2022 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of  Dyne Therapeutics, Inc. (“Dyne” or the “Company”) (NASDAQ: DYN).  Such investors are advised to contact Robert S. Willoughby at  newaction@pomlaw.com or 888-476-6529, ext. 7980.

The investigation concerns whether Dyne 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 18, 2022, Dyne issued a press release “announc[ing] that the U.S. Food and Drug Administration (FDA) has placed on clinical hold its Investigational New Drug application to initiate a clinical trial of DYNE-251 in patients with Duchenne muscular dystrophy amenable to skipping exon 51.”  Dyne reported that it “received a clinical hold letter from the FDA on Friday, January 14, 2022 requesting additional clinical and non-clinical information for DYNE-251″ and that “the Company expects to submit to the FDA its response with data from existing and ongoing studies in the second quarter of 2022, and if satisfactory to the FDA, to be dosing patients in a Phase 1/2 multiple ascending dose clinical trial of DYNE-251 by mid-2022 in accordance with its current guidance.” 

On this news, Dyne’s stock price fell $1.17 per share, or 12.59%, to close at $8.12 per share on January 18, 2022.

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

rswilloughby@pomlaw.com 

888-476-6529 ext. 7980

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SOURCE Pomerantz LLP

NEW YORK, Jan. 21, 2022 /PRNewswire/ —

 If you own shares in any of the companies listed above and

would like to discuss our investigations or have any questions concerning

this notice or your rights or interests, please contact:

Joshua Rubin, Esq.

WeissLaw LLP

305 Broadway, 7th Floor

New York, NY 10007

(212) 682-3025

(888) 593-4771

stockinfo@weisslawllp.com

SLR Senior Investment Corp. (NASDAQ: SUNS)

WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of SLR Senior Investment Corp. (NASDAQ: SUNS) in connection with the proposed merger of SUNS with SLR Investment Corp. (“SLRC”).  Pursuant to the merger agreement, SUNS shareholders will receive an amount of SLRC shares with a net asset value (“NAV”) equal to the NAV of SUNS shares that they hold at the time of closing.  The ownership split of the combined company will be based on the respective NAVs of each of SLRC and SUNS.  If you own SUNS shares and wish to discuss this investigation or your rights, please call us or visit our website: https://www.weisslaw.co/news-and-cases/suns

SeaChange International, Inc. (NASDAQ: SEAC)

WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of SeaChange International, Inc. (NASDAQ: SEAC) in connection with the proposed merger of SEAC with Triller Hold Co LLC (“TrillerVerz”).  Under the terms of the agreement, SEAC and TrillerVerz will combine, with SEAC and TrillerVerz stockholders owning approximately 2.3% and 97.7% of the surviving company, respectively.  If you own SEAC shares and wish to discuss this investigation or your rights, please call us or visit our website: https://www.weisslaw.co/news-and-cases/seac 

Aspen Technology, Inc. (NASDAQ: AZPN)

WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Aspen Technology, Inc. (NASDAQ: AZPN) in connection with AZPN’s proposed merger with Emerson Electric Co.’s industrial software businesses.  Under the terms of the agreement, AZPN shareholders will receive approximately $87 in cash and 0.42 shares of AspenTech, a newly formed company, for each share of AZPN common stock they own.  If you own AZPN shares and wish to discuss this investigation or your rights, please call us at one of the numbers listed above or visit our website: https://www.weisslaw.co/news-and-cases/azpn 

Monmouth Real Estate Investment Corporation (NYSE: MNR)

WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Monmouth Real Estate Investment Corporation (NYSE: MNR) in connection with the proposed acquisition of MNR by Logistics Properties Trust.  Under the terms of the acquisition agreement, MNR shareholders will receive $21.00 in cash for each share of MNR common stock that they hold.  If you own MNR shares and wish to discuss this investigation or your rights, please call us at one of the numbers listed above or visit our website: https://www.weisslaw.co/news-and-cases/mnr

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SOURCE WeissLaw LLP

IRVINE, Calif., Jan. 21, 2022 /PRNewswire/ — Sunstone Hotel Investors, Inc. (the “Company” or “Sunstone”) (NYSE: SHO), the owner of Long-Term Relevant Real Estate® in the hospitality sector, announced the following tax treatment of the 2021 distributions to holders of the Company’s preferred stock.

For stockholders with shares held through a bank, broker or nominee, questions regarding the dividend should be directed to the applicable bank, broker or nominee.  For registered stockholders, questions regarding the dividend should be directed to Sunstone’s transfer agent: Shareholder Services at American Stock Transfer and Trust Company at (718) 921-8124 or toll free at (800) 937-5449.

Shareholders are encouraged to consult with a personal tax advisor regarding their specific tax treatment of the Company’s distributions. 

About Sunstone Hotel Investors

Sunstone Hotel Investors, Inc. is a lodging real estate investment trust (“REIT”). Sunstone’s business is to acquire, own, asset manage and renovate or reposition hotels considered to be Long-Term Relevant Real Estate®. For further information, please visit Sunstone’s website at www.sunstonehotels.com.

For Additional Information

Bryan Giglia

Chief Financial Officer

Sunstone Hotel Investors, Inc.

(949) 382-3036

Aaron Reyes

Senior Vice President & Treasurer

Sunstone Hotel Investors, Inc.

(949) 382-3018

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SOURCE Sunstone Hotel Investors, Inc.

LOS ANGELES, Jan. 21, 2022 /PRNewswire/ — Games & Esports Experience Acquisition Corp. (the “Company”) today announced that, commencing January 24, 2022, holders of the units sold in the Company’s initial public offering may elect to separately trade the Class A ordinary shares and redeemable warrants included in the units. Each unit consists of one Class A Ordinary Share and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A Ordinary Share at a price of $11.50 per share, subject to adjustment. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. The Class A ordinary shares and whole warrants that are separated will trade on the Nasdaq Global Market (“Nasdaq”) under the symbols “GEEX” and “GEEXW,” respectively (Nasdaq: GEEX) (Nasdaq: GEEXW). Those units not separated will continue to trade on Nasdaq under the symbol “GEEXU,” (Nasdaq: GEEXU).  Holders of units will need to have their brokers contact Continental Stock Transfer & Trust Company, the Company’s transfer agent, in order to separate the holders’ units into Class A ordinary shares and redeemable warrants.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities of the Company, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Games & Esports Experience Acquisition Corp.

Games & Esports Experience Acquisition Corp. is a blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination target in any business, industry, sector or geographical location, it intends to focus its search on target businesses in interactive media, operating directly within or adjacent to competitive gaming and esports sectors or in industries with similar user characteristics or demographics including, but not limited to, ecommerce, media, content and other intellectual property, sports & entertainment, and social media. Concurrently with the initial business combination, the Company currently plans to merge with Gamers Club Holdings, LLC, a gaming technology subscription platform and community hub based in Brazil and an affiliate of GEEX Sponsor, LLC, the Company’s sponsor. The Company will not, however, complete an initial business combination with only Gamers Club.

Forward Looking Statements

This press release includes forward looking statements that involve risks and uncertainties, including with respect to the timing of the separate trading of the Company’s Class A ordinary shares and redeemable warrants. Forward looking statements are subject to numerous conditions, risks and changes in circumstances, many of which are beyond the control of the Company, including those set forth in the “Risk Factors” section of the Company’s registration statement and final prospectus for the Company’s initial public offering filed with the U.S. Securities and Exchange Commission (the “SEC”), copies of which are available on the SEC’s website at http://www.sec.gov. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

Contact

Tomi Kovanen

Games & Esports Experience Acquisition Corp.

P: (213) 266-7674

E: tk@geexcorp.com

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SOURCE Games & Esports Experience Acquisition Corp.

COLUMBUS, Ohio, Jan. 21, 2022 /PRNewswire/ — Huntington Bancshares Incorporated announced that the Board of Directors declared a quarterly cash dividend on the company’s common stock (Nasdaq: HBAN) of $0.155 per common share, unchanged from the prior quarter.  The common stock cash dividend is payable April 1, 2022, to shareholders of record on March 18, 2022.

In addition, the Board declared quarterly cash dividends on five series of its preferred stock.  The Board declared a quarterly cash dividend on its Floating Rate Series B Non-Cumulative Perpetual Preferred Stock (CUSIP#: 446150500) of $7.34785211 per share (equivalent to $0.1836963 per depositary receipt share).  The Board declared a quarterly cash dividend on its 5.70% Series E Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock (CUSIP#: 446150AL8) of $1,425.00 per share (equivalent to $14.25 per depositary receipt share).  The Board declared a quarterly cash dividend on its 5.625% Series F Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock (CUSIP#: 446150AT1) of $1,406.25 per share (equivalent to $14.0625 per depositary share).  The Board declared a quarterly cash dividend on its 4.450% Series G Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock (CUSIP#: 446150AV6) of $1,112.50 per share (equivalent to $11.1250 per depositary share).  Finally, the Board declared a quarterly cash dividend on its 4.5% Series H Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock (Nasdaq: HBANP) of $11.25 per share (equivalent to $0.28125 per depositary share).  All five preferred stock cash dividends are payable April 15, 2022, to their respective shareholders of record on April 1, 2022.

About Huntington

Huntington Bancshares Incorporated (Nasdaq: HBAN) is a $174 billion asset regional bank holding company headquartered in Columbus, Ohio.  Founded in 1866, The Huntington National Bank and its affiliates provide consumers, small and middle–market businesses, corporations, municipalities, and other organizations with a comprehensive suite of banking, payments, wealth management, and risk management products and services.  Huntington operates more than 1,100 branches in 12 states, with certain businesses operating in extended geographies.  Visit Huntington.com for more information.

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SOURCE Huntington Bancshares Incorporated

MASSAPEQUA, N.Y., Jan. 21, 2022 /PRNewswire/ — Cedar Realty Trust, Inc. (NYSE: CDR) today announced the federal income tax treatment of its 2021 distributions to the holders of its common and preferred shares

Shareholders are advised to consult their tax advisor about the specific tax treatment of 2021 dividends.

⁽¹⁾ Pursuant to Treasury Regulation §1.1061-6(c), Cedar Realty Trust is disclosing additional information related to the Capital Gain Dividends for purposes of Section 1061.  Section 1061 is generally applicable to direct and indirect holders of “applicable partnership interest”.  The “One Year Amounts” and “Three Year Amounts” required to be disclosed are both zero with respect to the 2021 distributions, since all Capital Gain Dividends relate to Section 1231 gains.   

⁽²⁾ The Section 897 Capital Gain amount is equal to the Capital Gain Dividend amount.

⁽³⁾ The amount reported as Unrecaptured Section 1250 Gain is a subset of, and is included in, the Capital Gain Dividend.

About Cedar Realty Trust

Cedar Realty Trust, Inc. is a fully-integrated real estate investment trust which focuses on the ownership, operation and redevelopment of grocery-anchored shopping centers in high-density urban markets from Washington, D.C. to Boston. The Company’s portfolio (excluding properties treated as “held for sale”) comprises 53 properties, with approximately 7.6 million square feet of gross leasable area.

For additional financial and descriptive information on the Company, its operations and its portfolio, please refer to the Company’s website at www.cedarrealtytrust.com.

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SOURCE Cedar Realty Trust, Inc.

BEIJING, Jan. 21, 2022 /PRNewswire/ — Puxin Limited (NYSE: NEW) (“Puxin” or the “Company”), today announced that it will change the ratio of its American depositary shares (“ADSs”) representing its ordinary shares from one (1) ADS representing two (2) ordinary shares to one (1) ADS representing twenty (20) ordinary shares.

For Puxin’s ADS holders, the change in the ADS ratio will have the same effect as a one-for-ten reverse ADS split. There will be no change to the Company’s underlying ordinary shares, and no ordinary shares will be issued or cancelled in connection with the change in ADS ratio. The Company will file a post-effective amendment to its registration statement on Form F-6 with the United States Securities and Exchange Commission (“SEC”) to reflect the change in the ADS ratio. The effect of the ratio change on the ADS trading price on the New York Stock Exchange (the “NYSE”) is expected to take place on or about February 1, 2022 (U.S. Eastern Time).

Each ADS holder of record at the close of business on the date when the change in ratio is effective will be required to surrender their ADSs to the Company’s depositary bank, Deutsche Bank Trust Company Americas, for cancellation and exchange in the ratio of every ten (10) existing ADSs for one (1) new ADS. Puxin’s ADSs will continue to be traded on the NYSE under the symbol “NEW”.

No fractional new ADSs will be issued in connection with the change in the ADS ratio. Instead, fractional entitlements to new ADSs will be aggregated and sold by the depositary bank and the net cash proceeds from the sale of the fractional ADS entitlements (after deduction of fees, taxes and expenses) will be distributed to the applicable ADS holders by the depositary bank.

The purpose of the ADS ratio change is to increase the Company’s ADS price to be in compliance with the NYSE’s trading price requirements. As a result of the change in the ADS ratio, the ADS price is expected to increase proportionally, although the Company can give no assurance that the ADS price after the change in the ADS ratio will be equal to or greater than ten times the ADS price before the change or that the Company will be able to satisfy the NYSE’s trading price or other continued listing requirements.

Receipt of NYSE Non-Compliance Notice Regarding Continued Listing Standards

The Company has received written notice from the New York Stock Exchange (the “NYSE”) that the Company is not in compliance with the continued listing standards set forth in Section 802.01B of the NYSE Listed Company Manual because its average market capitalization has been less than $50 million over a consecutive 30 trading-day period, and at the same time its last reported stockholders’ equity was below $50 million.

In accordance with NYSE procedures, the Company has 90 days from its receipt of the Notice to submit a business plan to the NYSE demonstrating how it intends to regain compliance with the NYSE’s continued listing standards within 18 months of the date of the Notice. The Company intends to develop and submit a business plan within 90 days of receipt of the Notice that demonstrates its ability to regain compliance with the NYSE’s continued listing standards within the required timeframe. The NYSE will then review the business plan for final disposition.

In the event the NYSE accepts the plan, the Company will be subject to semi-annual monitoring for compliance with the business plan. In the event the NYSE does not accept the business plan, the Company will be subject to delisting procedures and suspension.

The Notice has no immediate impact on the listing of the Company’s ADSs, which will continue to trade on the NYSE.

Notwithstanding the foregoing, the NYSE will promptly initiate suspension and delisting procedures with respect to a company that is determined to have average global market capitalization over a consecutive 30 trading-day period of less than $15 million.

Safe Harbor Statement

This press release contains forward-looking statements made under the “safe harbor” provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995, including, without limitation, statements regarding the Company’s ADS ratio change, future trading price, the Company’s plan to address NYSE continued listing requirements, its ability to regain compliance with NYSE requirements and continued the listing of the ADSs on the NYSE. These forward-looking statements can be identified by terminology such as “will,” “may,” “would,” “expect,” “anticipate,” “future,” “intend,” “aim,” “plan,” “believe,” “estimate,” “predict,” “project,” “continue,” “confident” and similar statements. Any statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the following: the Company’s ability to meet the standards necessary to maintain listing of its ADSs on the NYSE, including its ability to cure any non-compliance with the NYSE’s continued listing criteria; the NYSE’s acceptance of the Company’s business plan; litigation and negative publicity surroundings China-based companies listed in the U.S.; and the duration of the COVID-19 outbreak, including the emergence of COVID variants, and its potential impact on the Company’s business and financial performance; its goals and strategies; its ability to achieve and maintain profitability; its ability to attract and retain students to enroll in its courses; its ability to effectively manage its business expansion and successfully integrate businesses it acquired; its ability to identify or pursue targets for acquisitions; its ability to compete effectively against its competitors; its ability to improve the content of its existing courses or to develop new courses; and relevant government policies and regulations relating to the Company’s corporate structure, operations, business and industry. Further information regarding these and other risks is included in the Company’s filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and the Company does not undertake any obligation to update such information, except as required under applicable law.

About Puxin Limited

Puxin Limited (NYSE: NEW) is a private educational services provider in China. Puxin has a strong acquisition and integration expertise to effectively improve education quality and operational performance of acquired schools. Puxin offers quality educational services to students, and has developed online and mobile applications to enhance students’ learning experience. For more information, please visit http://www.pxjy.com/.

Contacts

Puxin Limited

Investor Relations

Phone: +86-10-6269-8930

E-mail: ir@pxjy.com

ICA Investor Relations (Asia) Limited

Mr. Kevin Yang

Phone: +86-21-8028-6033

E-mail: puxin@icaasia.com

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SOURCE Puxin Limited

TORONTO, Jan. 21, 2022 /PRNewswire/ — Invesco Canada Ltd. (“Invesco”) today announced the January 2022 distributions for its Canadian-listed exchange-traded funds (ETFs). Unitholders of record on January 28, 2022 will receive cash distributions payable on February 7, 2022.

Details of the “per-unit” distribution amounts are as follows:

^† A ticker symbol ending with “.U” represents U.S.-dollar-denominated units. USD units of these ETFs are offered as a convenience for investors who wish to purchase with U.S. dollars and receive distributions and the proceeds of sale or redemption in U.S. dollars. The USD units are not hedged against changes in the exchange rate between the Canadian dollar and the U.S. dollar.

The tax composition of the Invesco ETFs’ distributions will be determined on an annual basis and will only be available after the Invesco ETFs’ tax year-end.

For more information, please visit invesco.ca. You can also connect with Invesco on Twitter (@InvescoCanada), LinkedIn, Facebook, or through the Invesco Canada blog.

For additional information, shareholders of the ETFs which are scheduled for changes may call Invesco at 1.800.874.6275.

For media questions, contact: Beverly Khoo, 212.828.7492 Beverly.Khoo@invesco.com

About Invesco Ltd.

Invesco Ltd. is a global independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. Our distinctive investment teams deliver a comprehensive range of active, passive and alternative investment capabilities. With offices in more than 20 countries, Invesco managed US$1.5 trillion in assets on behalf of clients worldwide as of September 30, 2021. For more information, visit www.invesco.com.

Commissions, management fees and expenses may all be associated with investments in ETFs. ETFs are not guaranteed, their values change frequently and past performance may not be repeated. Please read the prospectus before investing. Copies are available from Invesco Canada Ltd. at invesco.ca.

There are risks involved with investing in ETFs. Please read the prospectus for a complete description of risks relevant to the ETF. Ordinary brokerage commissions apply to purchases and sales of ETF units.

Most Invesco ETFs seek to replicate, before fees and expenses, the performance of the applicable index, and are not actively managed. This means that the sub-advisor will not attempt to take defensive positions in declining markets and the ETF will continue to provide exposure to each of the securities in the index regardless of whether the financial condition of one or more issuers of securities in the index deteriorates. In contrast, if an Invesco ETFs ETF is actively managed, then the sub-advisor has discretion to adjust that Invesco ETFs ETF’s holdings in accordance with the ETF’s investment objectives and strategies.

FTSE Global Debt Capital Markets Inc. (“FGDCM”), FTSE International Limited (“FTSE”), or the London Stock Exchange Group companies (the “Exchange”) (together, the “Licensor Parties”). The Licensor Parties make no warranty or representation whatsoever, expressly or impliedly, either as to the results to be obtained from the use of the FTSE  Canada Investment Grade 1-5 Year Laddered Corporate Bond Index, the FTSE Canada Investment Grade 1-10 Year Laddered Corporate Bond Index, the FTSE Canada 1-5 Year All Government Laddered Bond Index , the FTSE Canada Ultra Liquid Long Term Government Bond Index and the FTSE Canada 1-3 Year Laddered Floating Rate Note Index (“the Indexes”) and/or the figure at which the Indexes stand at any particular time on any particular day or otherwise. The Indexes are compiled and calculated by FGDCM and all copyright in the Indexes’ values and constituent lists vests in FGDCM. The Licensor Parties shall not be liable (whether in negligence or otherwise) to any person for any error in the Index and the Licensor Parties shall not be under any obligation to advise any person of any error therein.

“FTSE^®” is a trademark of FTSE International Limited in Canada and Taiwan, and “FTSE^®” is a trademark of the London Stock Exchange Group companies in the rest of the world, and is used by FGDCM under licence.

FTSE^® is a trademark owned by the London Stock Exchange Group companies and is used by FTSE International Limited (“FTSE”) under licence. The FTSE RAFI^® Index Series is calculated by FTSE in conjunction with Research Affiliates LLC (“RA”). Neither FTSE nor RA sponsor, endorse or promote this product and are not in any way connected to it and do not accept any liability in relation to its issue, operation and trading. Any intellectual property rights in the Index values and constituent list vest in FTSE.

Investors should be aware of the risks associated with data sources and quantitative processes used in our investment management process. Errors may exist in data acquired from third party vendors, the construction of model portfolios, and in coding related to the Index and portfolio construction process. While Research Affiliates takes steps to identify data and process errors so as to minimize the potential impact of such errors on Index and portfolio performance, we cannot guarantee that such errors will not occur.

“Fundamental Index^®” and/or “Research Affiliates Fundamental Index^®” and/or “RAFI^®” and/or all other RA trademarks, trade names, patented and patent-pending concepts are the exclusive property of Research Affiliates, LLC.

S&P^®, S&P 500^®, and S&P 500 Low Volatility Index^® are registered trademarks of Standard & Poor’s Financial Services LLC and have been licensed for use by S&P Dow Jones Indices LLC and sublicensed for certain purposes by Invesco Canada Ltd.

LSTA^® is a registered trademark of Loan Syndications and Trading Association and has been licensed for use by S&P Dow Jones Indices LLC and Invesco Canada Ltd.

TSX is a trademark of TSX Inc. (“TSX”) and has been licensed for use by S&P Dow Jones Indices LLC and Invesco Canada Ltd.

The S&P/TSX Composite Low Volatility Index, S&P 500 Low Volatility Index, and S&P/LSTA U.S. Leveraged Loan 100 Index (the “Indices”) are products of S&P Dow Jones Indices LLC, and have been licensed for use by Invesco Canada Ltd. Invesco Canada Ltd.’s Invesco Index ETFs are not sponsored, endorsed, sold or promoted by S&P Dow Jones Indices LLC, its affiliates, LSTA, or TSX and none of such parties make any representation regarding the advisability of investing in such product.

S&P®, Standard & Poor’s®, S&P 500 Index are registered trademarks of Standard & Poor’s Financial Services LLC and have been licensed for use by S&P Dow Jones Indices LLC.

Nasdaq^®, OMX^®, and Nasdaq OMX® are registered trademarks of The Nasdaq OMX Group, Inc. (“Nasdaq OMX”) and LadderRite^® is a registered trademark of LadderRite Portfolios LLC (“LadderRite”). Nasdaq^®, OMX^®, Nasdaq OMX^® and LadderRite^® are collectively the “Marks”. The Marks are used under licence to Invesco Capital Management LLC and Invesco Canada Ltd. The product(s) have not been passed on by Nasdaq OMX or LadderRite as to their legality or suitability. The product(s) are not issued, endorsed, sold, or promoted by Nasdaq OMX or LadderRite, and NASDAQ OMX AND LADDERRITE MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE PRODUCT(S)

Invesco is a registered business names of Invesco Canada Ltd.

Invesco^® and all associated trademarks are trademarks of Invesco Holding Company Limited, used under licence.

© Invesco Canada Ltd., 2022

 

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SOURCE Invesco Ltd.

DALLAS, Jan. 21, 2022 /PRNewswire/ — Hamilton Wingo has secured a Florida appellate ruling requiring Carolina Casualty Insurance Company to honor its insurance contract and provide coverage for a $17.1 million arbitration award involving Texas-based Primcogent Solutions.

The June 2021 ruling by the Florida First District Court of Appeal closes the books on the case Carolina Casualty Insurance Company v. John D. Spicer, a long-running dispute over Primcogent’s 2011 acquisition of medical laser equipment from Santa Barbara Medical Innovations (SBMI). Primcogent was forced to file for bankruptcy in 2013 due to the acquisition. Subsequent litigation on behalf of the bankruptcy trustee claimed that SBMI had failed to disclose key information about the equipment, including revenue-generating potential and a history of customer complaints.

Prior to trial, the bankruptcy trustee offered to settle within policy limits. The insurance company denied coverage and refused to tender its policy limits, citing a litany of legal excuses.

After a six-day arbitration trial in 2016, an arbitration panel awarded $17.1 million to the bankruptcy trustee. The U.S. Court of Appeals for the Fifth Circuit affirmed the arbitration award in May 2019—issuing its opinion the same day Hamilton Wingo co-founder Chris Hamilton argued the case.

When SBMI’s insurance carrier, Carolina Casualty Insurance Company, refused to pay the arbitration award, Hamilton Wingo filed a suit in Florida on behalf of the bankruptcy trustee. After an extended hearing in January 2019 on the parties’ cross motions for summary judgment, the trial court granted summary judgment in favor of the trustee and denied the insurance company’s motion for summary judgment on all counts.

Despite the insurance company’s efforts to appeal the lower court’s decision, further delay and evade accountability, in June 2021, the Florida First District Court of Appeal affirmed the award of coverage of the judgment in full, and lifted the discovery stay as to the plaintiff’s claims for bad faith and fraud against the insurer—entitling the bankruptcy trustee to obtain the insurance company’s files withheld as confidential.

The insurance company was also forced to pay all policy limits to the bankruptcy trustee. Hamilton Wingo, as the Special Counsel to the trustee appointed by the bankruptcy court, is now actively prosecuting claims against Carolina Casualty Insurance Company for insurance bad faith, fraud, exemplary damages, and treble damages.

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Sophia Reza 

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SOURCE Hamilton Wingo, LLP