Stock Markets

Boeing Starliner capsule’s first crewed test flight postponed at last minute

Published

7 months ago

June 2, 2024

By Joey Roulette and Steve Gorman

CAPE CANAVERAL, Florida (Reuters) -The launch countdown for Boeing (NYSE:)’s new Starliner space capsule on its inaugural crewed test flight was halted on Saturday for the second time in weeks due to an unspecified technical issue, postponing the mission for at least another 24 hours.

The CST-200 Starliner’s first voyage carrying two astronauts to the International Space Station (ISS) has been highly anticipated and much-delayed as Boeing scrambles to gain a greater share of the lucrative NASA business now dominated by Elon Musk’s SpaceX.

The gumdrop-shaped Starliner capsule had stood poised for blastoff from NASA’s Kennedy Space Center in Florida atop an Atlas (NYSE:) V rocket furnished by United Launch Alliance, a Boeing-Lockheed Martin joint venture.

But less than four minutes prior to liftoff, a ground system computer triggered an automatic abort command that paused the countdown clock, according to mission officials.

It was not immediately clear why the abort command was activated or how long the underlying issue would take to address. But the next available launch window for the mission is Sunday at about noon local time, followed by two more opportunities on Wednesday and Thursday.

The first attempt by Boeing to send an uncrewed Starliner to the space station in 2019 failed due to software and engineering glitches. A second try in 2022 succeeded, paving the way for efforts at getting the first crewed test mission off the ground.

A May 6 countdown was halted just two hours before launch time over a faulty pressure valve on the Atlas upper stage, followed by weeks of further delays caused by other engineering problems, since resolved, on the Starliner itself.

The two-member crew, NASA astronauts Barry “Butch” Wilmore, 61, and Sunita “Suni” Williams, 58, had been strapped into their seats aboard the spacecraft for a couple of hours before launch activities were suspended on Saturday.

Technicians assisted the astronauts out of the capsule safely about an hour after the flight was scrubbed.

It is not uncommon in the space industry for countdowns to be halted at the 11th hour and for launches to be postponed for days or weeks, even when seemingly minor malfunctions or unusual sensor readings are detected, especially in new spacecraft flying humans for the first time.

BOEING OFFERS NASA 2ND CREW-LAUNCH OPTION

Boeing, whose commercial plane operations are in disarray after several crises, badly needs a success in space for its Starliner venture, a program several years behind schedule with more than $1.5 billion in cost overruns.

While Boeing has struggled, SpaceX has become a dependable taxi to orbit for NASA, which is backing a new generation of privately built spacecraft that can ferry astronauts to the ISS and in the future, under its ambitious Artemis program, to the moon and eventually Mars.

Starliner would compete head-to-head with SpaceX’s Crew Dragon capsule, which since 2020 has been NASA’s only vehicle for sending ISS crew to orbit from U.S. soil.

The flight would mark the first crewed voyage to space using an Atlas rocket since the storied family of Atlas launch vehicles first sent astronauts, including John Glenn, on orbital flights for NASA’s Mercury program in the 1960s.

Once launched, the capsule is expected to arrive at the space station after a flight of about 26 hours and dock with the orbiting research outpost some 250 miles (400 km) above Earth.

Plans call for the two astronauts to remain at the space station for about a week before riding the Starliner back to Earth for a parachute and airbag-assisted landing in the U.S. Desert Southwest, a first for crewed NASA missions.

The test flight comes at an especially critical moment for Boeing. Its airplane business is dealing with fallout from a midair blowout of a cabin panel door plug on a nearly new 737 MAX 9 in January, as well as previous deadly crashes of two 737 MAX jets.

Getting Starliner to this point has been a fraught process for Boeing under a $4.2 billion fixed-priced contract with NASA that has since swelled to roughly $4.5 billion, according to a Reuters review of contract changes since it was awarded in 2014.

The space agency wants the redundancy of having two different U.S. rides to the ISS, which is expected to retire around 2030. NASA is encouraging private development of new space stations that could replace the ISS after its retirement, potentially giving Starliner new destinations.

Depending on the outcome of the first crewed test flight, Starliner is booked to fly at least six more crewed missions to the space station for NASA.

Stock Markets

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

Published

13 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

13 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

13 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.