Stock Markets

Azerbaijan Airlines plane crashes in Kazakhstan, 38 dead, 29 injured

Published

12 hours ago

December 26, 2024

By Mariya Gordeyeva, Gleb Stolyarov and Nailia Bagirova

ASTANA/TBILISI/BAKU (Reuters) -An Embraer passenger jet flying from Azerbaijan to Russia crashed near the city of Aktau in Kazakhstan on Wednesday, killing 38 people while 29 survivors received hospital treatment, Kazakh authorities said.

Azerbaijan Airlines flight J2-8243 had flown hundreds of miles off its scheduled route to crash on the opposite shore of the Caspian Sea, after what Russia’s aviation watchdog said was an emergency that may have been caused by a bird strike. But an aviation expert suggested that cause seemed unlikely.

Officials did not immediately explain why it had crossed the sea, but the crash came shortly after drone strikes hit southern Russia. Drone activity has shut airports in the area in the past and the nearest Russian airport on the plane’s flight path was closed on Wednesday morning.

Azerbaijan President Ilham Aliyev said according to information he had received, the plane changed course due to poor weather, but he added the cause of the crash was unknown and must be fully investigated.

“This is a great tragedy that has become a tremendous sorrow for the Azerbaijani people,” he said.

Video of the crash showed the plane descending rapidly before bursting into flames as it hit the seashore, and thick black smoke then rising. Bloodied and bruised passengers could be seen stumbling from a piece of the fuselage that had remained intact.

Reuters was able to verify from visible landmarks that the video was filmed on the Caspian shore near Aktau.

Sixty-two passengers and five crew were aboard. The death toll was disclosed by Deputy Prime Minister Kanat Bozumbayev in a meeting with an Azerbaijani delegation in Aktau, Russian news agency Interfax reported.

Kazakhstan’s emergencies ministry said in a statement that fire services had put out the blaze and that the survivors, including two children, were being treated at a nearby hospital. The bodies of the dead were being recovered.

Azerbaijan Airlines said the Embraer 190 jet was flying from Baku to Grozny, capital of the Chechnya region in southern Russia, but had been forced to make an emergency landing around 3 kilometers (1.8 miles) from Aktau in Kazakhstan.

“Preliminary: after a collision with birds, due to an emergency situation on board, its commander decided to ‘go’ to an alternate airfield – Aktau was chosen,” Russia’s aviation watchdog said on Telegram.

But a collision with birds typically results in the plane landing in the nearest available field, said Richard Aboulafia, analyst at consultancy AeroDynamic Advisory. “You can lose control of the plane, but you don’t fly wildly off course as a consequence.”

RUSSIAN AIRPORT ON FLIGHT PATH WAS SHUT

Aktau is on the opposite shore of the Caspian Sea from Azerbaijan and Russia. Commercial aviation-tracking websites tracked the flight flying north on its scheduled route along the west coast before its flight path was no longer recorded. It then reappeared on the east coast, circling near Aktau airport before crashing into the beach.

Authorities in two Russian regions adjacent to Chechnya, Ingushetia and North Ossetia, reported drone strikes on Wednesday morning.

An official at Makhachkala airport in Russia on the west coast of the Caspian, the airport closest to where the flight disappeared from tracking, told Reuters it had been closed to incoming traffic for several hours on Wednesday morning. Reuters could not immediately reach officials at the airport in Grozny.

Authorities in Kazakhstan said a government commission had been set up to investigate what had happened and its members ordered to fly to the site and ensure that the families of the dead and injured were getting the help they needed.

Kazakhstan would cooperate with Azerbaijan on the investigation, the government said. Azerbaijan Airlines suspended flights from Baku to Russia’s Chechnya region until the investigation is complete. Russia’s state TASS news agency reported, citing the company.

President Vladimir Putin expressed his condolences. Aliyev, the president of Azerbaijan, had decided to return home from Russia where he had been due to attend a summit on Wednesday, his office said.

Ramzan Kadyrov, the Kremlin-backed leader of Chechnya, expressed his condolences in a statement and said some of those being treated in hospital were in an extremely serious condition and that he and others would pray for their rapid recovery.

In a statement, planemaker Embraer expressed its condolences and said it would support authorities’ efforts.

Stock Markets

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

Published

12 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

12 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

12 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.