Stock Markets

Commonwealth leaders say ‘time has come’ for discussion on slavery reparations

Published

2 months ago

October 27, 2024

By James Redmayne and Catarina Demony

APIA, Samoa (Reuters) -Commonwealth leaders, ending a week-long summit in Samoa, said on Saturday the time had come for a discussion on whether Britain should commit to reparations for its role in the transatlantic slave trade.

Slavery and the threat of climate change were major themes for representatives of the 56 countries in the group, most with roots in Britain’s empire, at the Commonwealth Heads of Government Meeting that began in the Pacific Islands nation on Monday.

British Prime Minister Keir Starmer, whose country has long rejected calls for financial compensation for nations affected by slavery, said summit discussions were not “about money”.

On slavery, the leaders said in a joint statement they had “agreed that the time has come for a meaningful, truthful and respectful conversation towards forging a common future based on equity”.

The push for ex-colonial powers such as Britain to pay reparations or make other amends for slavery and its legacies has gained momentum worldwide, particularly among the Caribbean Community and the African Union.

The statement also made reference to “blackbirding”, a term for people from places including the Pacific Islands being deceived, coerced or kidnapped to work on plantations in Australia and elsewhere.

Those opposed to reparations say countries should not be held responsible for historical wrongs, while those in support say the legacy of slavery has led to vast and persistent racial inequality.

The joint statement did not mention what form reparations should take.

Starmer told a press conference the joint statement did two things: “It notes calls for discussion and it agrees that this is the time for a conversation.

“But I should be really clear here, in the two days we’ve been here, none of the discussions have been about money. Our position is very, very clear in relation to that,” he said.

Professor Kingsley Abbott, director of the Institute of Commonwealth Studies at the University of London, said the statement was a sign of a potentially historic breakthrough on the issue.

“The commitment to conversations on reparatory justice wedges open the door for dialogue, and now the hard work really begins,” said Abbott, who attended the summit.

The joint statement also referred to concern about “the severe consequences of the climate crisis, including rising temperatures and sea levels”.

In a boost for Pacific Islands such as Tuvalu under threat from rising seas, they issued the Commonwealth’s first Oceans Declaration, affirming that a nation’s maritime boundaries should remain fixed even if climate change causes small island states to be submerged.

Fixing maritime boundaries means atoll nations can continue to reap the economic benefit of vast fishing grounds, even if populations must migrate as dry land area is significantly reduced. The declaration bolsters momentum for international law to recognise the perpetual statehood of sinking island states.

More than half of the Commonwealth’s members are small nations, many of them low-lying islands at risk from rising sea levels caused by climate change.

NEW CHIEF

The Commonwealth members selected Shirley Ayorkor Botchwey as the group’s new secretary-general. Botchwey, a supporter of reparations for transatlantic slavery and colonialism, takes over from Britain’s Patricia Scotland, who has been in the job since 2016.

King Charles and Queen Camilla, who both attended the summit, flew out of Samoa after a visit in which the monarch acknowledged the Commonwealth’s “painful” history.

Before leaving, the royal pair attended a farewell ceremony in heavy rain in the village of Siumu.

Charles said in a speech to the summit on Friday that he understood “from listening to people across the Commonwealth how the most painful aspects of our past continue to resonate”.

© Reuters. British Prime Minister Keir Starmer attends a closing executive session during the Commonwealth Heads of Government Meeting in Samoa. Picture date: Saturday October 26, 2024. Stefan Rousseau/Pool via REUTERS

“It is vital, therefore, that we understand our history, to guide us towards making the right choices in future,” he said.

The king and queen’s time in Samoa followed a six-day tour of Australia, where a large crowd turned out to see them at the Sydney Opera (NASDAQ:) House. Charles also met with Indigenous elders in Sydney, after being heckled by an Indigenous senator in Canberra.

Stock Markets

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

Published

17 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

17 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

17 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.