Stock Markets

G7 reassures Ukraine on NATO bid, frets over threat to UN in Lebanon

Published

2 months ago

October 20, 2024

By Angelo Amante

NAPLES, Italy (Reuters) -Defence ministers of the Group of Seven (G7) wealthy democracies on Saturday backed Ukraine’s “irreversible” path to NATO membership and expressed concern over threats to United Nations peacekeepers targeted by Israel in Lebanon.

The first ever gathering of G7 defence ministers took place as Israel and Lebanese armed group Hezbollah exchanged fire, with one drone directed at Israeli Prime Minister Benjamin Netanyahu’s holiday home, according to his spokesperson.

Italy holds the G7 rotating presidency for 2024 while the West also grapples with the Russian advance in Ukraine and China’s military activities around Taiwan, as well as heightened tensions along the border of North and South Korea.

Italian Defence Minister Guido Crosetto, who hosted the meeting in the southern city of Naples, told reporters the G7 could not solve global tensions alone, but needed to stimulate action across the international community.

“The G7 must be like a gadfly that has the strength to sting the rest of the world,” he said at a news conference.

Along with Italy, the G7 includes the United States, Canada, France, Germany and Britain. Representatives of NATO, the European Union and the Ukrainian defence minister Rustem Umerov also joined the talks.

In an earlier speech to kick off the meeting, Crosetto warned of a “deteriorated security framework” across the world and said near-term forecasts for conflict resolution “cannot be positive”.

Tensions are fuelled by confrontation between “two different, perhaps incompatible visions of the world,” he said.

In its final statement, the G7 backed Kyiv’s “irreversible path to full Euro-Atlantic integration, including NATO membership”.

This week, Ukrainian President Volodymyr Zelenskiy pitched his “victory plan” to the EU and NATO but failed to get the immediate membership invitation he was calling for.

German Defence Minister Boris Pistorius said he was worried by the North Korean contribution to the Russian war effort.

“(It) makes it clear that this conflict is spreading to other regions of the world in terms of its reach,” he said, as the G7 also expressed concern at China’s support to Moscow and Beijing’s recent military drills around Taiwan.

CEASEFIRE CALLS

Before the meeting, Crosetto welcomed photographers holding a model of a tiny red animal horn, a symbol of good luck according to time-honoured Neapolitan tradition.

The aerobatics team of the Italian Air Force flew over the Naples Royal Palace which housed the event, leaving behind the a trail of smoke in the red, white and green colours of the national flag in the overcast sky.

A few hundred demonstrators gathered under the rain, and paraded through the city centre holding Palestinian flags and asking for an immediate stop to the war in Gaza. Some minor clashes with police were reported.

The G7 joint declaration called for an immediate ceasefire in Gaza and the release of Israeli hostages still held by Hamas, saying attacks and retaliation risked “fuelling uncontrollable escalation in the Middle East”.

The EU’s chief diplomat Josep Borrell said Thursday’s killing of former Hamas leader Yahya Sinwar could raise the chances of an end to the conflict in Gaza, finally allowing more humanitarian support for the war-battered population.

He said the U.N. mission in Lebanon, known as UNIFIL which was recently targeted by Israel in its conflict against Hezbollah, could be made more effective but it would be up to the U.N. Security Council to make decisions on its future.

U.S. Defence Secretary Lloyd Austin said he would like Israel to scale back some of its strikes on Beirut and added that Israel had told him it had no intent to target UNIFIL in Lebanon.

Italy is a major contributor to UNIFIL which is stationed in southern Lebanon to monitor hostilities along the demarcation line with Israel. Israeli attacks have angered Prime Minister Giorgia Meloni, who visited Lebanon and Jordan on Friday.

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.