Stock Markets

German far-right gains seen setting tone in EU Parliament vote

Published

7 months ago

June 10, 2024

By Kate Abnett and Thomas Escritt

BRUSSELS (Reuters) -The far-right was seen scoring big gains in Germany and Austria in Sunday’s EU election, opinion polls showed, joining the Netherlands in offering the first signs that an expected rightwards shift in the European Parliament is happening.

More mainstream conservatives were also forecast to do well, with early estimates for both groups in line with an expected broader shift in the European Parliament which covers a bloc of 450 million citizens.

The new European Parliament is likely to be cooler on policies to address climate change while eager to support measures to limit immigration to the EU.

The parliament could also be more fragmented, which would make adopting any measure trickier and slower as the EU confronts challenges including a hostile Russia and increased industrial rivalry from China and the United States.

Early exit polls showed that parties grouped in the centre-right European People’s Party (EPP) were projected to remain the largest bloc across five countries, also including Greece and Cyprus.

That would put the EPP’s candidate to head the European Commission, incumbent Ursula von der Leyen of Germany, in pole position for a second term.

Congratulating her party colleagues in Germany via video link, von der Leyen said she was optimistic that the EPP would emulate the election victory scored by its German conservative members.

“We still have more waiting to do in Brussels because polls are still open in several member states, but that makes the trend you are setting all the more welcome,” she said.

“It’s a great result, and now we need to follow up on it around Europe, and I’m confident we will.”

In Germany, the far-right Alternative for Germany took second place behind the opposition conservatives with 16.5% of the vote, up from 11% in 2019, according to an exit poll published by public broadcaster ARD.

Meanwhile, in Austria, the far-right Freedom Party is the likely winner of the ballot, according to a poll based on surveys carried out over the past week and published as voting there closed on Sunday evening.

In the Netherlands, which voted on Thursday, exit polls showed nationalist Geert Wilders’ anti-immigration party was set to win seven of the 29 Dutch seats in the EU assembly, just one short of the combined seats of a Socialist Democrat-Greens alliance.

Sunday’s election could also mean both German Chancellor Olaf Scholz and French President Emmanuel Macron, whose party is expected to take a beating at the benefit of Marine Le Pen’s far-right, would emerge diminished and weakened.

RIGHT TURN

Voting began on Thursday in the Netherlands and in other countries on Friday and Saturday, but the bulk of EU votes will be cast on Sunday, with France, Germany, Poland and Spain opening their polls and Italy holding a second day of voting.

The European Parliament votes legislation that is key for citizens and businesses in the 27-nation EU.

“I don’t always agree with the decisions that Europe takes,” 89-year-old retiree Paule Richard said after voting in Paris. “But I still hope that there will be a reckoning in all European countries, so that Europe can be a unified bloc and look in the same direction.”

For many years, voters across the bloc have complained that EU decision-making is complex, distant and disconnected from daily realities, which explains often low turnout in EU elections.

“People don’t know who really has the power, between the Commission and Parliament,” another French voter, Emmanuel, said in a northern Paris polling station. “And it’s true that it raises questions and breeds mistrust which today might not exist if things were clearer,” the 34-year old programmer said.

The European Parliament will issue an EU-wide exit poll at around 2030 CET (1830 GMT) and then a first provisional result after 2300 CET when the final votes, in Italy, have been cast.

Many voters have been hit by the cost of living, have concerns about migration and the cost of the green transition and are disturbed by geopolitical tensions, including war in Ukraine.

Hard and far-right parties have seized on this and offered the electorate an alternative.

“Whoever believes that we need a change of course and that things can be done much better in Brussels has only one alternative, which is Vox,” the leading candidate for the far-right Spanish party, Jorge Buxade, said after voting in Madrid.

Stock Markets

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

Published

14 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

14 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

14 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.