Stock Markets

US House passes $95 billion Ukraine, Israel aid package, sends to Senate

Published

8 months ago

April 21, 2024

By Richard Cowan, Moira Warburton and Patricia Zengerle

WASHINGTON (Reuters) – The U.S. House of Representatives on Saturday with broad bipartisan support passed a $95 billion legislative package providing security assistance to Ukraine, Israel and Taiwan, over bitter objections from Republican hardliners.

The legislation now proceeds to the Democratic-majority Senate, which passed a similar measure more than two months ago. U.S. leaders from Democratic President Joe Biden to top Senate Republican Mitch McConnell have been urging embattled Republican House Speaker Mike Johnson to bring it up for a vote.

The Senate is expected to pass the measure next week, sending it to Biden to sign into law.

A dozen or so Democratic lawmakers waved small Ukrainian flags as it became clear that element of the package was headed to passage. Johnson told lawmakers that was a “violation of decorum.”

Johnson this week chose to ignore ouster threats by hardline members of his fractious 218-213 majority and push forward the measure that includes some $60.84 billion for Ukraine as it struggles to fight off a two-year Russian invasion.

The unusual four-bill package also includes funds for Israel, security assistance for Taiwan and allies in the Indo-Pacific and a measure that includes sanctions, a threat to ban the Chinese-owned social media app TikTok and the potential transfer of seized Russian assets to Ukraine.

“The world is watching what the Congress does,” the White House said in a statement on Friday. “Passing this legislation would send a powerful message about the strength of American leadership at a pivotal moment. The administration urges both chambers of the Congress to quickly send this supplemental funding package to the president’s desk.”

Some hardline Republicans have voiced strong opposition to further Ukraine aid, with some arguing the U.S. can ill afford it given its rising $34 trillion national debt. They have repeatedly raised the threat of ousting Johnson, who became speaker in October after his predecessor, Kevin McCarthy, was ousted by party hardliners.

“It’s not the perfect legislation, it’s not the legislation that we would write if Republicans were in charge of both the House, the Senate, and the White House,” Johnson told reporters on Friday. “This is the best possible product that we can get under these circumstances to take care of these really important obligations.”

Representative Bob Good, chair of the hardline House Freedom Caucus, told reporters on Friday that the bills represent a “slide down into the abyss of greater fiscal crisis and America-last policies that reflect Biden and (Democratic Senate Majority Leader Chuck) Schumer and (House Democratic leader Hakeem) Jeffries, and don’t reflect the American people.”

But Republican presidential candidate Donald Trump, who carries huge influence in the party, on April 12 voiced support for Johnson and in a Thursday social media post said Ukraine’s survival is important for the U.S.

The bills provide $60.84 billion to address the conflict in Ukraine, including $23 billion to replenish U.S. weapons, stocks and facilities; $26 billion for Israel, including $9.1 billion for humanitarian needs, and $8.12 billion for the Indo-Pacific.

Stock Markets

BioAge Labs (BIOA) Azelaprag Trial Halt Raises Questions About Pre-IPO Disclosures – Hagens Berman

Published

15 hours ago

December 26, 2024

San Francisco, California–(Newsfile Corp. – December 25, 2024) – On December 9, 2024, just months after conducting an initial public offering in September 2024, BioAge Labs, Inc. (NASDAQ: BIOA) made the startling announcement that it was discontinuing a Phase 2 study for its lead product, azelaprag, intended to treat metabolic diseases such as obesity.

Hagens Berman has opened an investigation and urges investors in BioAge who purchased shares in the company’s IPO or on the open market and suffered substantial losses to submit your losses now.

Visit: www.hbsslaw.com/investor-fraud/bioa
Contact the Firm Now: BIOA@hbsslaw.com
844-916-0895

BioAge Labs, Inc. (BIOA) Investigation:

The investigation is focused on the propriety of BioAge’s disclosures about the safety data and other matters related to azelaprag, which the company said in its IPO documents has been “well-tolerated in 265 individuals across eight Phase 1 clinical trials.”

BioAge’s disclosures came into question after the market closed on December 6, 2024, when the company announced the discontinuation of the STRIDES Phase 2 clinical trial evaluating azelaprag in combination with tirzepatide for the treatment of obesity. BioAge said that liver transaminitis was observed in patients receiving azelaprag.

This news drove the price of BioAge shares down almost 80% on December 9, 2024.

“We’re focused on whether BioAge was transparent to investors about the azelaprag safety profile before the December 6 announcement,” said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you invested in BioAge and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »

If you’d like more information and answers to frequently asked questions about the BioAge investigation, read more »

Whistleblowers: Persons with non-public information regarding BioAge should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email BIOA@hbsslaw.com.

# # #

About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/235182

Stock Markets

Celsius Holdings (CELH) Hit with Investor Class Action Amid Accusations of Oversold Inventory to Pepsi- Hagens Berman

Published

15 hours ago

December 26, 2024

CELH Investors with Losses Encouraged to Contact the Firm

San Francisco, California–(Newsfile Corp. – December 25, 2024) – Celsius Holdings (NASDAQ:), Inc. (NASDAQ: CELH) and certain of its C-Suite officers are embroiled in a securities class action lawsuit, claiming they misrepresented and concealed crucial information about the company’s financial performance, especially concerning its key customer, PepsiCo (NASDAQ:).

Hagens Berman is investigating the allegations and urges investors in Celsius who purchased shares and suffered substantial losses to submit your losses now.

Class Period: Feb. 29, 2024 – Sept. 4, 2024
Lead Plaintiff Deadline: Jan. 21, 2025
Visit: www.hbsslaw.com/investor-fraud/celh
Contact the Firm Now: CELH@hbsslaw.com
844-916-0895

Celsius Holdings, Inc. (CELH) Securities Class Action (WA:):

The lawsuit alleges that during the Class Period, Celsius failed to disclose to investors several critical points:

Oversold Inventory: Celsius significantly oversold inventory to Pepsi beyond demand, leading to a potential drastic reduction in future purchases.
Declining Sales: As Pepsi depleted its overstock, Celsius’ sales were projected to decline, impacting its financial health and outlook.
Unsustainable Sales Rates: The sales rates to Pepsi were unsustainable and created a misleading impression of the company’s performance.
Misleading Metrics: Consequently, Celsius’ business metrics and financial prospects were overstated

The situation came to light on May 28, 2024, when Celsius’ stock price plummeted nearly 13% following reports from Nielsen indicating slowed sales growth. Analysts highlighted the possibility of significantly reduced sales as Pepsi cut back its inventory.

The stock took another hit on September 4, 2024, dropping over 11% after a company presentation revealed a shortfall of $100 million to $120 million in Pepsi orders compared to the previous year. It was also disclosed that Pepsi had held several million excess cases over the last 18 months.

These revelations have led shareholder rights firm Hagens Berman to investigate the allegations.

“We’re investigating whether Celsius deliberately painted an overly optimistic picture of its relationship with Pepsi, misleading investors about the true state of its financial health and sales sustainability,” said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you invested in Celsius and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »

If you’d like more information and answers to frequently asked questions about the Celsius case and our investigation, read more »

Whistleblowers: Persons with non-public information regarding Celsius Holdings should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email CELH@hbsslaw.com.

# # #

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/235180

Stock Markets

Suriname fugitive ex-President Desi Bouterse dead at 79

Published

15 hours ago

December 26, 2024

By Ank Kuipers

PARAMARIBO (Reuters) -Suriname’s fugitive former President Desi Bouterse has died aged 79, the country’s government said on Wednesday, almost a year after he fled authorities to avoid jail following his conviction over the murder of 15 political activists in 1982.

“The government has been informed through the family and its own investigations of the passing of Mr. D. Bouterse, ex-President of the Republic of Suriname,” Foreign Minister Albert Ramdin told Reuters.

The former leader died on Tuesday, the government said, without confirming where, or even in which country. Last week Surinamese authorities raided his home – where supporters gathered to pay their respects on Wednesday morning – but did not find him.

Surinamese President Chan Santokhi, who investigated the case as a police commissioner and later as justice minister, expressed condolences to Bouterse’s family and urged calm in a statement.

“In the spirit of the holiday season and year-end, the president calls on all to remain dignified and calm, maintain peace and order and engage in prayer in the spirit of these special days,” the statement said.

Bouterse dominated politics in the tiny South American country for decades, leading a coup in 1980 and finally leaving office in 2020.

In 2019 he and six others were convicted for their role in the 1982 murders of 15 leading government critics – including lawyers, journalists, union leaders, soldiers and university professors – for which Bouterse received a 20-year prison sentence.

Bouterse had claimed the murdered men were connected to a planned invasion of the former Dutch colony.

Following years of legal back and forth, Bouterse was ordered to report to prison in January but he did not show up on the appointed date.

Though Bouterse avoided prison by going on the run, Reed Brody, a U.S. war crimes prosecutor who monitored the case for the International Commission of Jurists, said justice had caught up with the convicted former president before he died.