Stock Markets
Exclusive-Israel reopens Gaza food sales as Rafah raid chokes aid
(Adds reporting credit)
By Nidal al-Mughrabi, John Davison, Emma Farge and Ali Sawafta
RAMALLAH, West Bank (Reuters) -The Israeli military has lifted a ban on the sale of food to Gaza from Israel and the occupied West Bank as its battlefield offensive chokes international aid, according to Palestinian officials, businessmen and international aid workers.
Army authorities gave Gazan traders the green light to resume their purchases from Israeli and Palestinian suppliers of food such as fresh fruit, vegetables and dairy goods this month, days after Israeli forces launched an assault on the enclave’s southernmost city of Rafah, the people said.
The offensive against Rafah, a key gateway into Gaza from Egypt, has effectively halted the flow of U.N. aid to the devastated Palestinian territory. Israel is coming under mounting global pressure to ease the crisis as humanitarian agencies warn of looming famine.
“Israel phoned Gazan distributors who had been purchasing goods from the West Bank and Israel before the war,” said Ayed Abu Ramadan, chair of the Gaza Chamber of Commerce. “It told them it was ready to coordinate the pick-up of goods.”
Reuters, which interviewed more than a dozen people familiar with the development, is the first news outlet to report on the details and impact of this resumption of commercial food deliveries bound for sale in Gazan markets and stores.
The shift marks the first time any goods produced inside Israel or the West Bank, an Israeli-occupied Palestinian territory, have been allowed into Gaza since war erupted in October last year, according to the Palestinian officials, traders and residents.
Asked by Reuters about the resumption of deliveries, COGAT, the branch of the Israeli military responsible for aid transfers, said it was looking at ways to boost humanitarian aid and increase the amount of food for sale in Gaza.
“Allowing for the private sector to bring some food into the Gaza Strip is part of those efforts to increase the amount of food that’s coming in,” spokesperson Shimon Freedman added.
Aid workers have urged Israel for months to allow more commercial deliveries to enter Gaza so fresh food can supplement international aid, which mostly contains non-perishables like flour and tinned food.
The reopening is no panacea, though.
The flow of deliveries, conducted via the Kerem Shalom border crossing between southern Gaza and Israel, has been erratic, according to Palestinian officials who said anywhere between 20 and 150 trucks – each carrying up to 20 tonnes of food – have entered per day depending on how many Israel allows in.
That is well short of the 600 trucks a day that the U.S. Agency for International Development says is required to address the threat of famine, even when adding the roughly 4,200 trucks of food aid – about 190 a day – that Israeli officials say have entered Gaza since the beginning of the Rafah assault on May 7.
Before the war began on Oct. 7, when Palestinian group Hamas attacked southern Israel, an average of 500 aid and commercial trucks entered Gaza each day carrying all the goods needed in the enclave from food and medical supplies to farming equipment, according to U.N. figures.
The average number since then is below 140 trucks a day, according to a Reuters tally of Israeli military statistics, even as Israel has laid waste to the enclave in it mission to eradicate Hamas, sending aid needs through the roof.
The food coming in is also expensive, and scant replacement for international aid that has already been paid for by donor countries and organizations, said four aid workers involved in coordinating deliveries to Gaza. They requested anonymity to speak freely about sensitive matters.
Three Gazan residents interviewed said they had seen Hebrew-labelled produce in markets, including watermelons from an Israeli settlement, but that it was often being sold at prices too high for cash-strapped and displaced families.
“I bought two eggs for 16 shekels ($5), just because my kid, three years old, cried for eggs,” said Abed Abu Mustafa, a father-of-five in Gaza City.
“Normally I could have bought 30 eggs for less.”
VETTED BY ISRAELI MILITARY
Israel launched its assault on Rafah on May 7, defying warnings from its closest ally the United States that the offensive would cause more civilian casualties and from aid agencies who said it could upend efforts to deliver food to Gazans.
A week later, said Abu Ramadan of the Chamber of Commerce, the Israeli military began contacting traders in Gaza saying they could resume taking deliveries of food from Israel and the West Bank.
Under the arrangement, all suppliers and goods have to be vetted by the Israeli military, according to Wassim Al-Jaabari, head of the West Bank food and industry union.
The Gaza distributors meet the trucks sent by suppliers at the Kerem Shalom crossing on Gaza’s southern border where the military examines the goods before allowing the distributors to take them into the enclave, the two Palestinian officials said.
A copy of a COGAT list seen by Reuters showed that on May 22, 127 trucks carrying watermelons, lemons, eggs and milk as well as spices, rice, pasta, sugar and other items had been ordered by Gazan distributors. The list showed that most of the supplies came from the West Bank, though Reuters couldn’t determine if that was representative of deliveries more broadly.
Jaabari and Abu Ramadan said no free goods or charitable donations were allowed in from the West Bank or Israel, only products for sale.
None of the five interviewed businessmen involved in the trade would disclose exactly what they charge for a full shipment, but said their prices were what it normally cost to sell in the West Bank. Transport prices, however, push the cost up as trucks often have to spend a long time on the road near Kerem Shalom waiting for inspection and are sometimes ransacked by Israelis protesting the entry of goods to Gaza, they said.
Two distributors inside Gaza declined to say how much they bought and sold goods for. They pay the West Bank suppliers by bank transfer and take cash from sellers in local markets.
The goods have also been distributed unevenly, with few of them making it to northern Gaza where fears of famine are most acute.
“There is plenty of flour here but little else,” lamented Abu Mustafa, the father-of-five in Gaza City. “And whatever else there is, most people can’t afford.”
Stock Markets
BioAge Labs (BIOA) Azelaprag Trial Halt Raises Questions About Pre-IPO Disclosures – Hagens Berman
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
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.
# # #
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/235180
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.
“Thanks to the victims’ relatives and their supporters who never gave up, Bouterse will go down in history as a convicted murderer,” Brody said.
The former president’s family will make a statement later on Wednesday, members of his political party told journalists.
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