Category: Regulations & Security

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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

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Government Lifestyle Local News Programs & Events Regulations & Security

County Clerk advises residents on home title scam, Property Alert Service

TRENTON, N.J. — Mercer County Clerk Paula Sollami Covello reminds County residents about home title theft that can occur when someone forges the deed to your property so that the title is no longer listed under your name.

This kind of theft usually coincides with identity fraud. Con artists often use a falsified or stolen identity to hide their involvement in the theft. Then, they create a fake document that transfers ownership of the property to their own name instead of the name of the valid owner. Some property owners are much more likely to fall victim to deed theft such as seniors, individuals with second homes, or identity-theft victims.

 

To ensure that one’s property is protected, Sollami Covello reminds residents to register for the County Clerk’s Property Alert Service to provide property owners with important alerts concerning their properties. The Property Alert Service is completely free and alerts Mercer County property owners when the Mercer County Clerk’s Office records a document affecting a specific property. Residents can sign up for the alert system by going to https://records.mercercounty.org/PropertyAlert/ and registering.

 

It should be noted that the Property Alert Service does not prevent fraudulent activity from occurring; it helps monitor activity and transactions on properties. 

 

Anyone who suspects fraudulent activity should contact authorities. Additionally, if a County resident feels they have been victimized by property fraud, they may call our County Clerk’s Property Alert Hotline at 609-989-6470.

 

For more information, please visit the Mercer County Clerk’s website at https://www.mercercounty.org/government/county-clerk or call the office’s main number at 609-989-6465.

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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
Lifestyle Local News Regulations & Security Travel & Leisure

Hughes proposes ordinance to lower speed limit on Rosedale Road in Princeton

TRENTON, N.J. – The speed limit along Rosedale Road (County Rt. 604) in the Municipality of Princeton would be lowered from 40 mph and 45 mph to a consistent 35 mph between Province Line Road and Elm Road under an ordinance that Mercer County Exec. Brian M. Hughes recently presented to the Board of County Commissioners.

 

The proposal to amend the speed limit, which was approved by the board on first reading, is one of several traffic-calming measures undertaken by the County.  This approval ties into the Safe-Routes-to-School grant, Princeton received to make Rosedale Road safer for children walking and bicycling to and from Johnson Park Elementary School, Mr. Hughes said.

 

Other improvements designed to enhance pedestrian safety included restriping the Rosedale Road corridor to reduce travel lane widths to 11 feet in order to encourage reduced vehicle speeds; the installation of a mini-roundabout last summer at the intersection of Rosedale Road and the entrances to Johnson Park Elementary School and Greenway Meadows Park in an effort to increase pedestrian safety and decrease congestion during peak school and park operation hours by calming vehicular traffic; and the installation of rectangular rapid flashing beacons at both roundabout approaches on Rosedale Road to increase driver awareness of pedestrian crossings.

 

The ordinance is expected to be considered for adoption at the board’s March 23 meeting.

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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
Regulations & Security Special/Sponsored Content

Bronstein, Gewirtz & Grossman, LLC notifies Y-mAbs Therapeutics, Inc. (YMAB) investors of class action and to actively participate

NEW YORK — (BUSINESS WIRE) — Attorney Advertising — Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Y-mAbs Therapeutics, Inc. “(Y-mAbs” or the “Company)” (NASDAQ: YMAB) and certain of its officers, on behalf of all persons and entities that purchased, or otherwise acquired Y-mAbs securities between Oct. 6, 2020 and Oct. 28, 2022, both dates inclusive (the “Class Period).” Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/ymab.

 

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws.

 

The Complaint alleges that throughout the Class Period, Y-mAbs misrepresented to investors that, pursuant to a series of meetings and other communications between Y-mAbs and the FDA, that progress was being made that would align with the FDA’s requirement to demonstrate substantial evidence of effectiveness, sufficient for approval of omburtamab. What was unknown to investors was that the FDA had repeatedly advised Y-mAbs that the treatment of effect of omburtamab cannot be objectively established or quantified based on a comparison between Study 03-133 and an external cohort comprised of data from the Central German Childhood Cancer Registry (CGCCR) database because of substantial differences in the patient populations, and the absence of tumor response data, and that Study 101 was neither sufficiently advanced nor indicative of efficacy to justify approval. Further, Y-mAbs failed to advise investors that it had elected to submit the March 31, 2022 BLA prior to reaching agreement with the FDA on the content of the application.

 

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/ymab or you may contact Peretz Bronstein, Esq. or his Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Y-mAbs, you have until March 20, 2023 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 represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.

Contacts

Bronstein, Gewirtz & Grossman, LLC

Peretz Bronstein or Yael Nathanson

212-697-6484 | info@bgandg.com

Categories
Local News Regulations & Security

Mercer County Correction Center recently passes the NJ state inspection requirements

A recent annual inspection of the Mercer County Correction Center found the facility to be in full compliance with the requirements of the “Manual Standards for New Jersey Adult County Correctional Facilities,” County Exec. Brian M. Hughes announced.

 

The inspection was conducted in January by the New Jersey Department of Corrections, through its Office of County Services.

 

“I congratulate Warden Charles Ellis and his supervisors, officers, health care workers, and other staff members on this achievement,” Mr. Hughes said.

 

“The daily challenges they face in operating a century-old facility are enormous, and they are to be commended for ensuring the jail operates at a level that meets the state’s requirements.”

 

Among the many areas covered by the inspection were planning and design; personnel; training and staff development; management information system and records; use and control of security equipment; food service; sanitation; medical, dental and health services; access to the courts; disciplinary procedures; fiscal management; visits; and inmate services and programs.

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Culture Local News Regulations & Security

Nadine Taub, known as an early leader in women’s rights

Nadine Taub, born Jan. 21, 1943, in Princeton, was an American lawyer who laid the essential groundwork for women’s rights in the workplace, defending and winning the first sexual harassment case in the US in 1977.

Taub played a pivotal, but largely unrecognized role in the development of sexual harassment law in the United States.

 

As part of a group of young female lawyers in the 1970s, including Ruther Bader Ginsburg, Nancy Stearns, and others, Taub made legal history by winning cases which argued that the Constitution protected women’s rights.

 

Taub graduated from Yale Law School in 1968, and in 1973 began teaching at Rutgers University. While teaching, she continued to work as an active lawyer and as faculty advisor for the Women’s Rights Law Reporter — the first U.S. legal periodical to focus exclusively on the field of women’s right law — and a member of the New Jersey Task Force on Domestic Violence.

 

Also in the 1970s, she founded the Women’s Rights Litigation Clinic (WRC) of Rutgers Law School, the first of its kind in the country.

 

As the WRC director, Taub worked with students on many of the most important cases in her career, from establishing sexual harassment as a form of sex discrimination, to developing ways for battered women to get protection from their attackers.

 

In 2017, Rutgers honored her by creating a scholar’s position in her name. Taub died in June 2020.

Categories
Business Culture Local News News Now! Regulations & Security

Mercer County celebrates National Consumer Protection Week

Unveils new online complaint form

 

To mark National Consumer Protection Week, March 5-11, 2023, Mercer County Exec. Brian M. Hughes announces the county’s new simplified filing process for consumers who believe their rights have been violated and wish to make complaint with the County’s Consumer Affairs office.

Photo: Mercer County Executive Brian M. Hughes at the annual Consumer Bowl

 

“If you believe you’ve been cheated or victimized by an unscrupulous business, our professionals in the Mercer Consumer Affairs office can be your advocate,” Mr. Hughes said.

 

To file a complaint online, consumers can go directly to the fillable form at: https://mercercountyconaffnj.govqa.us/WEBAPP/_rs/(S(moareydl225kumool0fbnhcy))/supporthome.aspx

 

Mercer’s Division of Consumer Affairs can assist consumers in other ways, too. NCPW is a time when government agencies, consumer protection groups, and organizations like ours work together to share information about consumer rights and help people learn to spot, report, and avoid scams.

 

For instance, are you looking to protect yourself from fraud, identity theft, and scams? Wondering about the best way to improve your credit, shop for a used car, or how to maximize your security online?

 

Mercer County Division of Consumer Affairs can help.

 

“Here in Mercer County, our office is available to host events to educate and inform about current scams, consumer protection, how to know if a contractor is registered, and more,” Mr. Hughes said. “Year round, our Consumer Affairs and Weights and Measures teams are in the field ensuring that you get what you pay for, and you know with whom you’re dealing by investigating complaints or patterns of fraud and enforcing the Consumer Fraud Act and state regulations.”

 

Go to https://www.mercercounty.org/departments/consumer-affairs for more information. Also, visit ftc.gov to learn how to get free consumer education materials and read the latest from consumer protection experts.

Categories
Regulations & Security Special/Sponsored Content

Bronstein, Gewirtz & Grossman, LLC notifies Unity Software Inc. (U) investors of investigation

NEW YORK — (BUSINESS WIRE) — $U #classaction — Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of investors of Unity Software Inc. “(Unity” or “the Company)” (NYSE: U). Unity investors are encouraged to obtain additional information and assist the investigation by visiting the firm’s site: www.bgandg.com/u.

 

The investigation concerns whether Unity violated federal securities laws.

 

On Feb. 22, 2023, Unity reported its financial and operating results for the fourth quarter and full year 2022, as well as revenue outlook for 2023. For the fourth quarter of 2022, Unity reported a loss of $0.82 per share on a GAAP basis and a 51% increase in operating expenses. Unity also reported first-quarter and full-year revenue guidance that fell significantly short of expectations. On this news, the Company’s stock price fell $6.00 per share, or 15.85%, to close at $31.85 per share on Feb. 23, 2023.

 

If you are aware of any facts relating to this investigation or purchased Unity shares, you can assist this investigation by visiting the firm’s site: www.bgandg.com/u. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.

 

Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.

Contacts

Bronstein, Gewirtz & Grossman, LLC

Peretz Bronstein or Yael Nathanson

212-697-6484 | info@bgandg.com