Author: Michelle Dryden

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AM Best to host webinar on how insurers are responding to funding-backed litigation

OLDWICK, N.J. — (BUSINESS WIRE) — #insurance — AM Best and Best’s Insurance Professional Resources will host a complimentary webinar entitled “How Insurers Are Responding to Funding-Backed Litigation.”

 

The webinar will air on Tuesday, April 25, 2023, at 2:00 p.m. ET. Claims and legal experts examine the rise of litigation funding, including trends in disclosure requirements, how funding is affecting settlement strategies and litigation costs. Register today: http://www.ambest.com/webinars/litigation/index.html.

 

Panelists include:

  • Michael Briggs, Partner, Litigation & Dispute Resolution, McMillan
  • Marie Castronuovo, Partner, Russo & Gould, LLP
  • Dr. Janine McCartney, Ph.D., MBA, CSP, CHST, HHC Safety Engineers
  • Fred Fisher, President, Fisher Consulting Group Inc.

 

Attendees can submit questions during registration or by emailing webinars@ambest.com. The event will be streamed in video format, and playback will be available to registered viewers shortly after the event.

 

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

 

Copyright © 2023 by A.M. Best Company, Inc. and/or its affiliates.

ALL RIGHTS RESERVED.

Contacts

John Czuba
Managing Editor, Best’s Insurance Professional Resources
+1 908 439-2200, ext. 5673
john.czuba@ambest.com

Categories
Regulations & Security Special/Sponsored Content

Deadline Alert:  Kessler Topaz Meltzer & Check, LLP reminds investors of May 8, 2023 deadline in securities fraud class action lawsuit against Credit Suisse Group AG

RADNOR, Pa. — (BUSINESS WIRE) — The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed in the United States District Court for the District of New Jersey against Credit Suisse Group AG “(Credit Suisse)” (NYSE: CS).

 

The action charges Credit Suisse with violations of the federal securities laws, including omissions and fraudulent misrepresentations relating to the company’s business, operations, and prospects. As a result of Credit Suisse’s materially misleading statements and omissions to the public, Credit Suisse’s investors have suffered significant losses.

 

CLICK HERE TO SUBMIT YOUR CREDIT SUISSE LOSSES. YOU CAN ALSO CLICK ON THE FOLLOWING LINK OR COPY AND PASTE IN YOUR BROWSER: https://www.ktmc.com/new-cases/credit-suisse-group-ag?utm_source=PR&utm_medium=link&utm_campaign=cs&mktm=r

CANNOT VIEW THIS VIDEO? PLEASE CLICK HERE

LEAD PLAINTIFF DEADLINE: MAY 8, 2023

CLASS PERIOD: MARCH 10, 2022 THROUGH MARCH 15, 2023

CONTACT AN ATTORNEY TO DISCUSS YOUR RIGHTS:

Jonathan Naji, Esq. at (484) 270-1453 or via email at info@ktmc.com

 

Kessler Topaz is one of the world’s foremost advocates in protecting the public against corporate fraud and other wrongdoing. Our securities fraud litigators are regularly recognized as leaders in the field individually and our firm is both feared and respected among the defense bar and the insurance bar. We are proud to have recovered billions of dollars for our clients and the classes of shareholders we represent.

 

CREDIT SUISSE’S ALLEGED MISCONDUCT

On March 10, 2022, Credit Suisse filed with the SEC its 2021 annual report on a Form 20-F for the year ended December 31, 2021. The 2021 annual report failed to identify any material weaknesses with Credit Suisse’s internal controls.

 

On December 1, 2022, Credit Suisse’s Chairman, Axel P. Lehmann (“Lehmann”) stated in an interview with Financial Times that customer outflows had not only “completely flattened out,” but had, in fact, “partially reversed.” The following day, in an interview with Bloomberg Television, Lehmann reiterated his previous statements, reassuring investors that as of November 11, 2022, customer outflows had “basically stopped.” Following Lehmann’s statements, Credit Suisse’s American Depository Share (“ADS”) price rose $0.29 per ADS, or 9.36%, to close at $3.38 per ADS on December 2, 2022.

 

Then on February 9, 2023, Credit Suisse issued a press release announcing its 2022 financial results. The press release revealed that, contrary to Lehmann’s prior statements, large customer outflows had continued through year-end 2022. Specifically, the press release reported customer outflows of 110.5 billion Swiss francs in the final three months of 2022, a figure which far exceeded market expectations. Following this news, Credit Suisse’s ADS price fell $0.56 per ADS, or 15.64%, to close at $3.02 per ADS on February 9, 2023.

 

On February 21, 2023, Reuters reported that the Swiss Financial Market Supervisory Authority was reviewing Lehmann’s previous comments regarding customer outflows. Following this news, Credit Suisse’s ADS price fell another $0.10 per ADS, or 3.31%, to close at $2.92 per ADS on February 21, 2023.

 

Then on Tuesday, March 14, 2023, Credit Suisse issued its annual 2022 report and revealed that it had identified “certain material weaknesses in our internal control over financial reporting” for the years 2021 and 2022. Additionally, on Wednesday, March 15, 2023, the chairman of Credit Suisse’s largest shareholder, Saudi National Bank, which holds 9.88% of Credit Suisse, announced that it won’t provide further financial support to Credit Suisse and that it would not buy more shares on regulatory grounds.

 

Following this news, the price of Credit Suisse ADSs fell 13.94% to close at $2.16 per ADS on March 15, 2023.

 

WHAT CAN I DO?

Credit Suisse investors may, no later than May 8, 2023, move the Court to serve as lead plaintiff for the class, through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. Kessler Topaz Meltzer & Check, LLP encourages Credit Suisse investors who have suffered significant losses to contact the firm directly to acquire more information. The class action complaint against Credit Suisse, captioned Patrick Calhoun v. Credit Suisse Group AG, et al and docketed under 23-cv-01297, is filed in the United States District Court for the District of New Jersey before the Honorable Karen McGlashan Williams.

 

CLICK HERE TO SIGN UP FOR THE CASE

 

WHO CAN BE A LEAD PLAINTIFF?

A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.

 

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP

Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country and around the world. The firm has developed a global reputation for excellence and has recovered billions of dollars for victims of fraud and other corporate misconduct. All of our work is driven by a common goal: to protect investors, consumers, employees and others from fraud, abuse, misconduct and negligence by businesses and fiduciaries. The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visit www.ktmc.com.

Contacts

Kessler Topaz Meltzer & Check, LLP

Jonathan Naji, Esq.

280 King of Prussia Road

Radnor, PA 19087

(484) 270-1453

info@ktmc.com

Categories
Business

New Survey: 49% of consumers optimistic about their financial futures

Affinity Federal Credit Union’s Wellbeing and Your Wallet Index surveys consumers in the Mid-Atlantic region on financial wellbeing and related concerns

 

BASKING RIDGE, N.J. — (BUSINESS WIRE) — Affinity Federal Credit Union “(Affinity)” released findings from the debut installment of its Wellbeing and Your Wallet Index. The Index captures consumer sentiment around their overall financial wellbeing, a cornerstone of the culture within Affinity’s community, and analyzes results from a 42-question survey completed by 3,001 individuals in New Jersey, New York, Connecticut and Pennsylvania.

The survey, which was completed in Dec. 2022, addressed key financial wellbeing concerns impacting consumers, including addressing mounting inflation concerns on everyday spending and budgeting and access to financial education and resources.

 

Key findings include:

Despite ongoing headwinds, consumers’ financial optimism is high. Forty-nine percent of respondents indicated they are optimistic about their financial futures, with Generation Z reporting the highest levels of optimism (59%). The data showcases resilience among consumers despite ongoing headwinds of inflation, economic pullback concerns and market volatility.

 

The majority of older generation respondents feel well-prepared for financial emergencies. Fifty-four percent felt confident in their ability to handle the cost of an emergency situation, with older generations statistically more confident in their ability to handle such situations (78% of the Silent Generation and 61% of Baby Boomers). Conversely, only 42% of Generation Z respondents felt confident in their ability to handle an emergency situation.

 

Financial concerns continue to be a significant contributor to stress levels, particularly for younger generations. Over half (51%) of respondents feel finances are a significant source of stress, with Millennials (64%) and Gen Z (61%) respondents reporting financial stress at a higher rate. More specifically, 29% of respondents reported concern about having enough money for food in the next month (Jan. 2023), with millennials most concerned (39%).

 

Consumers show heightened interest in financial education, but access remains limited. Forty-two percent of respondents were not aware of financial education services or content available through their primary financial institution. Over two-thirds of respondents (69%) were interested in learning more about key financial education topics, including retirement planning (32%), financial coaching (25%) and budgeting assistance (24%).

 

“We are encouraged by the results of the Winter Wellbeing and Your Wallet Index, showing increased consumer confidence in their financial futures,” said Jacqui Kearns, Chief Brand and Wellbeing Officer of Affinity. “However, we see financial concerns, including inflation and food security, continue to drive stress among younger people and negatively impact their financial wellbeing. Our goal is to identify these stressors and provide education, support and services that would positively impact the communities we serve.”

 

Grant Gallagher, Head of Financial Wellbeing at Affinity, added: “It’s clear that there is still a need for more education around finance to ensure consumers are equipped with the knowledge and resources to achieve peace of mind. We are committed to helping our members take control of their futures and guiding them on how to make smart decisions with their money.”

 

The Winter 2023 edition is the first installment of quarterly surveys and data releases to assess changes in sentiment and financial wellbeing over time. Affinity partnered with Drive Research for the survey.

 

For more information on the survey and to view an infographic of the full survey results, please visit affinityfcu.com/financial-wellbeing/wellbeing-and-your-wallet.

 

About Affinity Federal Credit Union

Affinity Federal Credit Union is a full-service financial institution, member-owned and community-focused, with a mission to nurture your financial wellbeing. With more than 20 branches across the tri-state area, Affinity is the largest credit union headquartered in the state of New Jersey, proudly ranking in the top 2% of all credit unions in terms of asset size1. The Affinity difference is about people helping people on a deeper level and understanding what YOU need to make your unique dreams a reality. For more information, please visit www.affinityfcu.com.

1https://ncua.gov/analysis/credit-union-corporate-call-report-data

 

Contacts

Media
Marissa Comerford

Gregory FCA for Affinity Federal Credit Union

affinity@gregoryfca.com
610-228-2104

Categories
Regulations & Security Special/Sponsored Content

Kirby McInerney LLP reminds investors that a class action lawsuit has been filed on behalf of Catalent, Inc. (CTLT) investors and encourages investors to contact the firm before April 25, 2023

NEW YORK — (BUSINESS WIRE) — $CTLT #classaction — The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the District of New Jersey on behalf of those who acquired Catalent, Inc. “(Catalent” or the “Company)” (NYSE: CTLT) securities during the period from August 30, 2021 through October 31, 2022 (the “Class Period).” Investors have until April 25, 2023 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

 

Catalent provides delivery technologies and development solutions for drugs, biologics, and consumer health products.

 

On August 29, 2022, Catalent disclosed its financial results for its fiscal year that ended on June 30, 2022, revealing that despite its repeated representations regarding sustained demand for its products and services, it reported sales that fell below consensus expectations because demand for its COVID-related products and services was facing substantial headwinds. On this news, the price of Catalent shares declined by $7.42 per share, or approximately 7.44%, from $99.70 per share to close at $92.28 on August 29, 2022.

 

On September 20, 2022, the Washington Post released an article, after the close of trading, entitled “FDA releasing millions of Moderna boosters as states warn of shortages.” According to that article, the FDA had delayed the release of millions of COVID-19 vaccine booster shots filled by Catalent as a result of their inspection of the Bloomington Facility. FDA officials had raised concerns that vaccine vials packaged at the Bloomington facility could be contaminated because the facility was not sufficiently sterile. On this news, the price of Catalent shares declined by $4.00 per share, or approximately 4.59%, from $87.15 per share to close at $83.15 on September 21, 2022 and declined by $4.09 per share, or approximately 4.92%, from $83.15 per share to close at $79.06 on September 22, 2022.

 

On November 1, 2022, Catalent reported its financial results for its fiscal quarter that ended on September 30, 2022, disclosing that its earnings had fallen to zero and lowered its fiscal year 2023 revenue guidance to the range of $4.625 to $4.875 billion from $4.975 billion to $5.225 billion. Also on November 1, 2022, the Company hosted an earnings call for its fiscal quarter that ended on September 30, 2022, on which Defendant Alessandro Maselli, the Company’s CEO and President, stated that the Company was anticipating “negative P&L [profit and loss] effects,” as Catalent attempted to address the FDA’s observations of regulatory violations. On this news, the price of Catalent shares declined by $16.20 per share, or approximately 24.65%, from $65.73 per share to close at $49.53 on November 1, 2022.

 

The lawsuit alleges that, throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose that: (i) Catalent materially overstated its revenue and earnings by prematurely recognizing revenue in violation of U.S. Generally Accepted Accounting Principles (“GAAP”); (ii) Catalent had material weaknesses in its internal control over financial reporting related to revenue recognition; (iii) Catalent falsely represented demand for its products while it knowingly sold more product to its direct customers than could be sold to healthcare providers and end consumers; and (iv) Catalent disregarded regulatory rules at key production facilities in order to rapidly produce excess inventory that was used to pad the Company’s financial results through premature revenue recognition in violation of GAAP and/or stuffing its direct customers with this excess inventory.

 

If you purchased or otherwise acquired Catalent securities, have information, or would like to learn more about this lawsuit and how it might affect your rights, please contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.

 

Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: http://www.kmllp.com.

 

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

Contacts

Kirby McInerney LLP

Thomas W. Elrod, Esq.

212-699-1180

https://www.kmllp.com
investigations@kmllp.com

Categories
Business Lifestyle Regulations & Security

AM Best revises outlooks to negative for Trisura Group Ltd. members

OLDWICK, N.J. — (BUSINESS WIRE) — #insurance — AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of the operating entities of Trisura Group Ltd. (Trisura) [TSX:TSU] (Toronto, Ontario, Canada), which include Trisura Specialty Insurance Company (TSIC), Trisura Insurance Company (TIC), Bricktown Specialty Insurance Company (BSIC) and Trisura Guarantee Insurance Company (TGIC). TSIC, TIC, and BSIC are domiciled in Oklahoma City, OK, while TGIC is domiciled in Toronto, Ontario, Canada.

The Credit Ratings (ratings) reflect Trisura’s overall balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.

 

The negative outlooks reflect required improvements in Trisura’s operational risk management processes around management of captives within its U.S. operations. While Trisura is actively addressing these issues from a policy, organizational and corporate governance perspective, AM Best notes that the effectiveness of these actions will require time to evaluate.

 

The revision of the outlooks to negative from stable follows a CAD 81.5 million one-time write-down of reinsurance recoverables in the fourth quarter of 2022, which substantially offset consolidated net income, though the company maintained a profitable year. This write-down originated from a reinsurance recoverable related to a fronting program for a captive reinsurance program on U.S. property/casualty risks. The write-down was necessitated by lack of sufficient collateral to support the recoverable as higher catastrophe reinsurance costs required by Trisura to manage catastrophe risk had the effect of depleting the program’s collateral. Subsequent to the write-down, the program has been put into accelerated runoff and the company is continuing the implementation of enhanced policies, procedures and organizational changes to the group’s corporate governance practices.

 

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

 

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

 

Copyright © 2023 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Michael Buckley
Financial Analyst
+1 908 439 2200, ext. 5658
michael.buckley@ambest.com

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Rosemarie Mirabella
Director
+1 908 439 2200, ext. 5892
rosemarie.mirabella@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 439 2200, ext. 5098
al.slavin@ambest.com

Categories
Business

AM Best affirms Credit Ratings of Principal Financial Group, Inc. and its subsidiaries

OLDWICK, N.J. — (BUSINESS WIRE) — AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa” (Superior) of Principal Life Insurance Company and Principal National Life Insurance Company. Both are life insurance operating companies of Principal Financial Group, Inc. (PFG) [NASDAQ: PFG] and collectively are referred to as Principal. Concurrently, AM Best has affirmed the Long-Term ICRs of “a” (Excellent) of Principal Financial Services, Inc. and PFG, as well as the group’s Long-Term Issue Credit Ratings (Long-Term IR). The outlook of these Credit Ratings (ratings) is stable. AM Best also has affirmed the group’s Short-Term Issue Credit Rating (Short-Term IR). (Please see below for a detailed listing of the Long- and Short-Term IRs.) All companies are headquartered in Des Moines, IA.

 

The ratings reflect Principal’s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, favorable business profile and very strong enterprise risk management.

 

AM Best views Principal’s risk-adjusted capitalization as very strong, as measured by Best’s Capital Adequacy Ratio (BCAR), although capital growth has been limited by dividends to the parent company. The company has lowered its product risk with divestitures in 2022 of retail fixed annuity and universal life insurance with secondary guarantee (ULSG) blocks. The balance sheet strength assessment also benefits from historically favorable financial flexibility, liquidity profiles and access to capital markets at the holding company level. AM Best’s view of the company’s capital is somewhat tempered by Principal’s higher allocations to commercial mortgages in comparison with the group’s peers and usage of its captive reinsurers.

 

The company continues to report favorable growth trends and profitability metrics, benefiting from its diverse lines of business, distribution channels and leading market positions. An increasing presence internationally provides additional earnings diversity. However, AM Best notes that political and macroeconomic risks in Principal’s key international markets could have negative effects on the holding company going forward.

 

Principal has demonstrated strong risk management capabilities through continued enhancements to its risk modeling and stress-testing capabilities to support its overall business strategy, which have driven recent major business decisions. AM Best will continue to monitor how risk management practices impact Principal’s asset to liability profile amid this changing interest rate environment.

 

The following Long-Term IRs have been assigned with stable outlooks:

Principal Financial Group, Inc.—

— “a” (Excellent) on $300 million 5.5% senior unsecured notes, due March 15, 2053

— “a” (Excellent) on $400 million 5.375% senior unsecured notes, due March 15, 2033

The following Long-Term IRs have been affirmed with a stable outlook:

Principal Financial Group, Inc –

— “a” (Excellent) on $300 million 3.125% senior unsecured notes, due 2023

— “a” (Excellent) on $400 million 3.40% senior unsecured notes, due 2025

— “a” (Excellent) on $350 million 3.10% senior unsecured notes, due 2026

— “a” (Excellent) on $500 million 3.70% senior unsecured notes, due 2029

—“a” (Excellent) on $600 million 2.125% senior secured notes, due 2030

— “a” (Excellent) on $505.6 million 6.05% senior unsecured notes, due 2036

— “a” (Excellent) on $300 million 4.625% senior unsecured notes, due 2042

— “a” (Excellent) on $300 million 4.35% senior unsecured notes, due 2043

— “a” (Excellent) on $300 million 4.30% senior unsecured notes, due 2046

Principal Life Global Funding I—“aa” (Superior) on program rating

— “aa” (Superior) on all outstanding notes issued under the program

Principal Life Global Funding II—“aa” (Superior) on program rating

— “aa” (Superior) on all outstanding notes issued under the program

Principal Financial Global Funding, LLC—“aa” (Superior) on program rating

— “aa” (Superior) on all outstanding notes issued under the program

Principal Financial Global Funding II LLC—“aa” (Superior) on program rating

Principal Life Income Funding Trusts—“aa” (Superior) on program rating

The following Short-Term IR has been affirmed:

Principal Life Insurance Company—

— AMB-1+ (Strongest) commercial paper rating

The following indicative Long-Term IRs on securities available under universal shelf registration have been affirmed with a stable outlook:

Principal Financial Group, Inc.—

— “a” (Excellent) on senior unsecured debt

— “a-”(Excellent) on subordinated debt

—“bbb+”(Good) on preferred stock

Principal Capital I, II and III—

— “aa” (Superior) on preferred securities

 

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

 

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

 

Copyright © 2023 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Louis Silvers
Senior Financial Analyst
+1 908 439 2200, ext. 5802
louis.silvers@ambest.com

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Jacqalene Lentz
Director
+1 908 439 2200, ext. 5762
jacqalene.lentz@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 439 2200, ext. 5098
al.slavin@ambest.com

Categories
Business Digital - AI & Apps Lifestyle Technology

TrueFort launches the TrueFort Trust Global Channel Partner Program

Security partner ecosystem will focus on addressing customer challenges associated with lateral attack protection, workload security and micro-segmentation

 

WEEHAWKEN, N.J. — (BUSINESS WIRE) — #Applicationprotection — TrueFort, the lateral movement protection company, today announced the TrueFort Trust Partner Program for IT solution providers, systems integrators, consultants, MSPs/MSSPs and ISVs to deliver custom workload, lateral attack and micro-segmentation security solutions. The program uses a channel friendly model that allows partners to capitalize on new market opportunities to generate new recurring revenue streams.

TrueFort provides deep visibility and real-time protection for cloud, data center, and hybrid application environments. On day one, TrueFort channel partners benefit from application intelligence and workload behavior analytics to enforce Zero Trust microsegmentation that contains lateral movement and stops the spread of ransomware. TrueFort has unique full-stack cloud workload capabilities based on patented behavioral analytics and policy automation, specifically designed to address the complexities and dynamic nature of modern workloads.

 

“TrueFort enables partners to deliver value-added services to prevent zero-day, supply chain and ransomware attacks,” said Jay Dosanjh, VP Channels and Alliances for TrueFort. “Our channel-first model allows partners to engage in accordance with their business structure and growth initiatives. The more you invest and collaborate with TrueFort, the more benefits and rewards you will receive in return.”

 

TrueFort Partner Program Details

The multi-tier TrueFort Partner Program includes the following elements to enable partners to succeed and capitalize on this fast growing market opportunity:

  • Enables partners to differentiate their offerings via TrueFort’s integrated, lifecycle approach to microsegmention, service account protection, workload hardening, and file integrity monitoring
  • Provides automation to trigger response in ticketing systems, CMDBs, and SOC tools
  • Partner participation profitability and gamified incentives
  • Access to a Knowledge Base of sales assets, use cases, and technical collateral
  • Deal registration to reduce channel conflict and provide opportunity protection
  • Sandbox license for TrueFort Platform to demonstrate use cases and capabilities to prospects and customers
  • Marketing support and market development funds for joint programs, events and Go-to Market initiatives
  • Dedicated sales and system engineering support for successful deployments
  • Partner enablement and training resources helping you crawl, walk, and run on your own
  • Dedicated Partner Account Team
  • Differentiated partner levels, providing greater value based on engagement and joint opportunities

 

“Channel partners seek innovative solutions to address sophisticated cyberattacks,” said Charbel Tawil, Chairman and CEO of Forequest Technologies. “By providing a continuous detection and response platform that understands accepted behavior, TrueFort controls lateral movement used by zero-day, supply chain and ransomware attacks.”

 

Top Market Opportunities

Three of the leading customer use cases that TrueFort channel partners can monetize are:

1) Microsegmentation – TrueFort Zero Trust segmentation goes beyond other limited microsegmentation products by leveraging a behavioral understanding of applications that spans activity from network connections, users, and executed commands.

2) Granular Application Visibility – TrueFort provides a unified, real-time view of all user, network, and process behavior within applications across cloud, virtual, container-based, and traditional environments. This makes it easy to establish and detect trusted and untrusted relationships between applications.

3) Incident Response and Threat Hunting – TrueFort enables workflow-driven, rule-based real time response to attacks. It enables customers to detect and shut down unapproved lateral movement by blocking network connections, killing processes and disconnecting users in real-time.

 

For more information on joining the TrueFort Partner Program visit: TrueFort | Partners

 

About TrueFort

TrueFort puts you in control of lateral movement across the data center and cloud. The TrueFort Cloud extends protection beyond network activity by shutting down the abuse of service accounts. Founded by former IT executives from Bank of America and Goldman Sachs, leading global enterprises trust TrueFort to deliver unmatched application environment discovery and microsegmentation for both identity and activity. For more information visit https://truefort.com and follow us on LinkedIn and Twitter.

Contacts

Media Contact:

Marc Gendron

Marc Gendron PR for TrueFort

marc@mgpr.net
617.877.7480

Categories
News Now! Regulations & Security

Law Enforcement Against Drugs & Violence (L.E.A.D.) launches partnership with National Night Out (NNO)

Two organizations working to strengthen the relationship between law enforcement and communities form partnership to advance police-community relationships

 

ALLENTOWN, N.J. — (BUSINESS WIRE) — Law Enforcement Against Drugs & Violence (L.E.A.D.), a nationwide nonprofit that works with communities to help students understand the dangers of drugs and violence, has entered into a partnership with National Night Out (NNO), an annual community-building campaign that brings the police and neighbors together under positive circumstances, this year.

 

While working together on their shared mission to bridge the gap between law enforcement and communities, L.E.A.D. and NNO will include one another’s logos on their materials, and NNO will distribute L.E.A.D.’s literature to organizations that host NNO events.

 

On the first Tuesday in August, millions of neighbors take part in NNO across thousands of communities from all fifty states, U.S. territories and military bases worldwide, although Texas and other select areas celebrate on the first Tuesday of October. Last year, there were 16,621 NNO events, where neighborhoods hosted block parties, festivals, parades, cookouts and several other community events with visits from safety demonstrations and emergency personnel.

 

“It was important for us to partner with an organization that’s also working to improve the bond between law enforcement and communities, so we’re confident that NNO is the perfect match,” said Nick DeMauro, CEO of L.E.A.D.

 

“Every day, we have police officers across the country that are strengthening their relationship with young students by teaching them why avoiding drugs and violence is vital. We’re thrilled to work with NNO to promote our shared belief in police-community relationships and see how partnering with them continues to change the way that people among various communities interact with the police.”

 

L.E.A.D. provides services “on the street” and “in the classroom” as it brings law enforcement and communities closer together. The “in the classroom” program is taught by 3600 trained instructors in 41 states.

 

L.E.A.D. has a proven effective, law enforcement-focused anti–drug, anti–violence curriculum for K-12 students in the U.S. The L.E.A.D. curriculum is taught over the course of a 10-week program to educate youth on how they can make smart decisions without the involvement of drugs or violence.

 

“Since the organization’s main mission is to help communities understand that police officers are people they should rely on rather than feel angst towards, we couldn’t think of a better partnership than with L.E.A.D.,” said Executive Director of the National Association of Town Watch (NATW) and Creator of NNO, Matt Peskin.

 

“We appreciate that L.E.A.D. is using education on such a prominent subject matter, the dangers of drugs and violence, to better the relationship between police forces and communities. We’re excited to attend their annual drug and violence prevention conference later this month, and we look forward to continuing improving police-community bonds together.”

 

About L.E.A.D.

L.E.A.D. provides the leadership, resources and management to ensure law enforcement agencies have the means to partner with educators, community leaders, and families. L.E.A.D. succeeds by providing proven and effective programs to deter youth and adults from drug use, drug related crimes, bullying and violence. L.E.A.D. is committed to reinforcing the mutual respect, goodwill and relations between law enforcement and their communities. For more information, visit https://www.leadrugs.org/.

 

About NNO

NNO is an annual community-building campaign that promotes police-community partnerships and neighborhood camaraderie to create safer, more caring neighborhoods. NNO enhances the relationship between neighbors and law enforcement while bringing back a true sense of community. The organization provides a great opportunity to bring police and neighbors together under positive circumstances through its community-building events with seminars, activities for youth, exhibits and much more. For more information, visit https://natw.org/.

Contacts

For media inquiries:

Ariel Kaplan

Zito Partners

781-774-0023

ariel@zitopartners.com

Categories
Education Healthcare Lifestyle Science Technology Travel & Leisure

Aetrex partners with Pensole Lewis College School of Business & Design to improve next generation of footwear design

Brand donates premium foot scanner to bring 3D data-powered shoe design capabilities to students

 

TEANECK, N.J. — (BUSINESS WIRE) — Aetrex, Inc., a global market leader in foot scanning technology, today announced a partnership with Pensole Lewis College School of Business & Design (PLC), the preeminent footwear design school in the world, to further the school’s mission to help diverse, budding designers break into the world of product creation and improve the industry for the next generation.


In late 2022, Aetrex met with PLC Founder and President D’Wayne Edwards to discuss how Aetrex’s state-of-the-art foot scanning technology uses 3D foot data to help shoe designers create better fitting and functioning footwear. Creating an anatomically correct shoe, a crucial component in the design process, starts with the development of a highly informed last (the solid form around which shoes are molded). Aetrex has used data and learnings from its foot scanners for years to create shoes that fit and perform better, helping wearers reduce injury and increase comfort.

 

After discussing the needs of the college, the benefits of foot scanning and ideas for course integration, the parties entered a partnership where Aetrex donated an Albert 2 Pro, the premier 3D foot scanner in its fleet.

 

“PLC relies on support from brands like Aetrex to make our programming possible and open up opportunities in the industry for our talented students,” said Edwards.

 

“Over the past year, PLC has served around 150 students – tuition-free, without prior educational requirements. We’re thrilled to integrate Aetrex Technology into our curriculum to further our goal of preparing the largest talent pool of progressive creatives to enter the industry and leave it better than we found it.”

 

PLC students started exploring the technology’s capabilities in a course with New Balance. In this program, students utilize the Albert 2 Pro to scan the feet of five different athletes to analyze and categorize shoe styles for better-fitting footwear designs.

 

“We recognize the footwear industry always has room to grow—both in developing better-fitting footwear, and in employing a more diverse and representative population of designers,” said Justin Dyszelski, national accounts manager at Aetrex.

 

“That’s why we’re working with Pensole to make industry-leading design technologies available to the next generation of students so that they can access and learn the innovative tools of the trade and use their passions to help propel our industry forward.”

 

As a technology-led company, Aetrex operates the largest technology team in the industry with AI and computer vision engineers fully involved in product development. Since 2002, Aetrex has placed over 12,000 foot scanners worldwide that have completed more than 50 million unique foot scans. Other Aetrex partners include BOA, Burton, Marathon Sports, Sun & Ski Sports, Rocky Brands, Pikolinos, and more.

 

To learn more about Aetrex’s technology suite, visit www.aetrex.com.

 

About Aetrex

Aetrex, Inc. is widely recognized as a global leader in foot scanning technology, orthotics and comfort and wellness footwear. Aetrex has developed state-of-the-art foot scanning devices, including Albert, Albert 2 Pro and Albert 3DFit (2022 and 2023 CES Innovation Award Honorees), Albert Pressure and iStep, designed to accurately measure feet and determine foot type and pressure points. Since 2002, Aetrex has placed over 12,000 scanners worldwide that have performed more than 50 million unique customer foot scans, currently averaging more than 2.5 million scans a year.

 

The company is renowned for its over-the-counter orthotics – the worlds #1 premium foot orthotic. With fashion, function and quality at the forefront, Aetrex also designs and manufactures stylish, performance footwear. Based in New Jersey, Aetrex is consistently named one of New Jersey’s Top 100 Privately Held Companies and was also included in NJBIZ’s Top 30 Manufacturing Companies. It has remained privately owned by the Schwartz family for three generations. For additional information, visit www.aetrex.com.

 

About Pensole Lewis College of Business & Design

Pensole Lewis College of Business & Design is the pipeline for career education and professional development in the design industry. We are the source for creative vision and progress; bearing the torch to push the culture forward — beyond what’s visible. At Pensole Lewis College, we offer a new path to break into the world of product creation. We prepare the largest talent pool of designers to enter the industry empowering them to make it better for the next generation, leaving our industry better than when we entered it.

Contacts

Media
Rajira Hernandez

Matter Communications

978-225-8082

aetrex@matternow.com

Categories
Business Culture Entertainment News Lifestyle

Introducing 3 Pointers: An exclusive mini-series starring Man vs. Food’s Casey Webb — Premiering on VIZIO

Lifestyle Programming Developed with BetMGM Designed to Give a Big Assist to College Basketball Tournament Fans

 

IRVINE, Calif. — (BUSINESS WIRE) — VIZIO (NYSE: VZIO) today announced the launch of an exclusive branded entertainment series, 3 Pointers. Hosted by renowned talent Casey Webb (Man vs. Food), the four-part limited series celebrates the culture of college basketball’s big month with game day recipes, beverages, and entertainment hacks designed to elevate the viewing experience.

 

Produced in partnership with BetMGM, a market-leading sports betting and gaming entertainment company, the marquee series launches on March 17th, exclusively on VIZIO.


“3 Pointers captures important criteria as we evaluate what to put in front of our audiences: relevance, timeliness, and premium storytelling,” said Steve DeMain, VP of Branded Content & Sponsorships at VIZIO.

 

“As we continue to evolve the experiences we deliver to our customers, we’re also expanding the opportunities we can provide brands to connect with our audience in unique ways that add value to their journey. It’s a win-win.”

 

3 Pointers is just in time for America’s favorite month-long college basketball event. In each episode, host Casey Webb shares fun recipes and entertaining tips that will make any game day gathering a slam dunk. Whether you’re cheering on your favorite team or just trying out a new recipe, 3 Pointers promises something for everyone.

 

“We collaborated with VIZIO on this one-of-a-kind programming from concept to completion with the goal of creating a premium entertainment experience that taps into the excitement of March basketball,” said Matt Prevost, CRO at BetMGM.

 

“3 Pointers is a creative and dynamic series that we hope sports fans will enjoy throughout the month-long celebration of college basketball and beyond.”

 

The exclusive content was produced by food and lifestyle veterans Turn Card Content. 3 Pointers is available on the VIZIO home screen and on demand on WatchFree+. The series provides fun tips for consumers during March basketball and takes viewers directly into the content — marking a breakthrough moment for tracking the efficacy and impact of integrated content.

 

3 Pointers premieres on March 17th on the VIZIO home screen. Following the premiere, the mini-series will be available on demand on VIZIO WatchFree+. Click here to watch the trailer for the series.

 

About VIZIO

Founded and headquartered in Orange County, California, our mission at VIZIO Holding Corp. (NYSE: VZIO) is to deliver immersive entertainment and compelling lifestyle enhancements that make our products the center of the connected home. We are driving the future of televisions through our integrated platform of cutting-edge Smart TVs and powerful operating system. We also offer a portfolio of innovative sound bars that deliver consumers an elevated audio experience. Our platform gives content providers more ways to distribute their content and advertisers more tools to connect with the right audience.

 

For more information, visit VIZIO.com and follow VIZIO on Facebook, Twitter, and Instagram.

 

About BetMGM

BetMGM is a market-leading sports betting and gaming entertainment company, pioneering the online gaming industry. Born out of a partnership between MGM Resorts International (NYSE: MGM) and Entai Plc (LSE: ENT), BetMGM has exclusive access to all of MGM’s U.S. land-based and online sports betting, major tournament poker, and online gaming businesses. Utilizing Entain’s US-licensed, state of the art technology, BetMGM offers sports betting and online gaming via market-leading brands including BetMGM, Borgata Casino, Party Casino and Party Poker. Founded in 2018, BetMGM is headquartered in New Jersey. For more information, visit http://www.betmgminc.com.

Contacts

Melissa Hourigan

Fabric Media

720-608-1919

melissa@fabricmedia.net