ROSEN, TOP RANKED GLOBAL COUNSEL, Encourages Infinity Pharmaceuticals, Inc. Investors with Losses in Excess of $100K to Secure Counsel Before Important Deadline in Securities Class Action – INFI

NEW YORK, Aug. 30, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Infinity Pharmaceuticals, Inc. (NASDAQ: INFI) between January 5, 2022 and July 24, 2023, both dates inclusive (the “Class Period”), of the important October 16, 2023 lead plaintiff deadline. SO WHAT: If you purchased […]

NEW YORK, Aug. 30, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Infinity Pharmaceuticals, Inc. (NASDAQ: INFI) between January 5, 2022 and July 24, 2023, both dates inclusive (the “Class Period”), of the important October 16, 2023 lead plaintiff deadline.

SO WHAT: If you purchased Infinity securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Infinity class action, go to https://rosenlegal.com/submit-form/?case_id=18465 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 16, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: The Complaint alleges that Defendants made materially false and misleading statements. On February 23, 2023, before the stock market opened, Infinity announced via a webcast (the “Webcast”) that it had entered into a merger agreement with MEI Pharma, Inc. (“MEI”). The proposed transaction was all stock, pursuant to which Infinity shareholders would receive shares of MEI common stock. During the Webcast, Defendant Perkins stated Infinity would “prioritize head and neck cancer.” No mention at all was made of breast cancer treatments. It was as if MARIO-4 and MARIO-P never existed, and TNBC was never a priority for eganelisib treatment. This pivot did not go unnoticed by the stock market, and the value of Infinity stock plummeted. Infinity stock had closed at $0.55 on February 22, 2023.

On July 24, 2023, Infinity announced that it was terminating the merger because MEI did not obtain stockholder approval for the merger. On this news, Infinity’s stock price fell $0.09, or 40%, to close at $.13 per share on July 24, 2023, thereby injuring investors further.

To join the Infinity class action, go to https://rosenlegal.com/submit-form/?case_id=18465 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

GlobeNewswire Distribution ID 8913885

Information on the Total Number of Voting Rights and Shares

REGULATED INFORMATION Information on the Total Number of Voting Rights and Shares Mont-Saint-Guibert (Belgium), August 30, 2023, 10:30 pm CET / 4:30 pm ET – In accordance with article  15 of the Law of 2 May 2007 on the disclosure of large shareholdings, Nyxoah SA (Euronext Brussels and Nasdaq: NYXH) publishes the below information following the […]

REGULATED INFORMATION

Information on the Total Number of Voting Rights and Shares

Mont-Saint-Guibert (Belgium), August 30, 2023, 10:30 pm CET / 4:30 pm ET In accordance with article  15 of the Law of 2 May 2007 on the disclosure of large shareholdings, Nyxoah SA (Euronext Brussels and Nasdaq: NYXH) publishes the below information following the issue of new shares.

  • Share capital: EUR 4,925,869.05
  • Total number of securities carrying voting rights: 28,673,985 (all ordinary shares)
  • Total number of voting rights (= denominator): 28,673,985 (all relating to ordinary shares)
  • Number of rights to subscribe to securities carrying voting rights not yet issued:
  • 100 “2018 ESOP Warrants” issued on December 12, 2018, entitling their holders to subscribe to a total number of 50,000 securities carrying voting rights (all ordinary shares);
  • 410,500 “2020 ESOP Warrants” issued on February 21, 2020, entitling their holders to subscribe to a total number of 410,500 securities carrying voting rights (all ordinary shares); and
  • 1,265,500 “2021 ESOP Warrants” issued on September 8, 2021, entitling their holders to subscribe to a total number of 1,265,500 securities carrying voting rights (all ordinary shares); and
  • 700,000 “2022 ESOP Warrants” issued on December 28, 2022, entitling their holders to subscribe to a total number of 700,000 securities carrying voting rights (all ordinary shares).

Contacts:
Nyxoah
David DeMartino, Chief Strategy Officer
david.demartino@nyxoah.com
+1 310 310 1313

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Tahir Yaqoob Bhatti assumes responsibilities as ZTBL President

Renowned banker Tahir Yaqoob Bhatti on Thursday assumed his new responsibilities as the President of the Zarai Taraqiati Bank Ltd.Tahir Yaqoob Bhatti has a vast experience, spanning over 35 years in almost all major areas of banking with large and mid…

Renowned banker Tahir Yaqoob Bhatti on Thursday assumed his new responsibilities as the President of the Zarai Taraqiati Bank Ltd.

Tahir Yaqoob Bhatti has a vast experience, spanning over 35 years in almost all major areas of banking with large and mid-tier financial institutions.

Prior to joining ZTBL, Tahir Yaqoob Bhatti served as President of the Punjab Provincial Cooperative Bank Ltd, which is the oldest financial institution in the country, dealing in agriculture.

Source: Radio Pakistan

Smuggling and ‘Satta’: Everything That Went Wrong In Sugar Saga 2023

The government is finally looking to import 100,000 tons of sugar from Brazil as a potential shortage is on the cards during the two-and-a-half months before the sugarcane crushing season begins in late November.Interestingly, the July 2023 exports st…

The government is finally looking to import 100,000 tons of sugar from Brazil as a potential shortage is on the cards during the two-and-a-half months before the sugarcane crushing season begins in late November.

Interestingly, the July 2023 exports stood at 5,542 tons which is more than five times higher than the quantity exported during June 2023, but we will talk more about it later.

More so, we were told we had a 1.2 to 1.7 million tons of sugar surplus when the government was permitting exports last year, then What happened? For that, we have to backtrack a little!

The federal government imposed a total ban on sugar exports in May 2022 despite the Pakistan Sugar Mills Association strongly advocating that Pakistan could earn more than $1 billion as the prices were high at that time. But November came and amid the declining foreign reserves, the government gave the green light to first export 100,000 tons of sugar and then raised the number to 250,000 tons in January 2023.

It must be noted that the sitting Federal Minister of National Food Security and Research at that time opposed the plan on multiple forums but exports were allowed anyway.

“The government cannot allow the export of sugar and then import at higher prices,”, said Minister Tariq Basheer Cheema in November 2022.

In April, the Sugar Advisory Board, a federal entity revised the sugar price to Rs. 98 per kg on which Lahore High Court issued a stay order. Efforts from the provincial government to fix the prices were also met with a similar response.

Meanwhile, sugar smuggling through the Afghan border was rampant and despite the apparent implementation of a track and trace system. The Punjab Food Department said that nearly 800,000 tons of sugar has been smuggled across the western border. The fact that the Punjab Food Department is sharing the figures like a news organization instead of taking strict action demands a conversation on its own.

It worsened the market sentiment and retail prices have gone up by nearly 70-80 percent since April to Rs. 170 to Rs. 185 per kg and may cross Rs. 200 per kg soon. Ex-mill prices have already touched Rs. 16,500 per 100kg (today’s average price), a 37 percent increase in less than two months and will cross Rs. 18,000 in the upcoming weeks.

What Went Wrong?

Foremost, the ex-minister of National Food Security and Research has alleged that data on stocks provided to the government was fudged. But, let’s not go there and say we had the surplus and we let a third of it be smuggled and kept exporting it even raising the figure by five times in July 2023 before we finally realized we had to ban it. How does that sound?

The arguments from the Food and Agriculture Department officials in private conversations are typical. They throw the responsibility on the Federal Board of Revenue while acknowledging that it’s virtually impossible to cover the huge Afghan border but I guess the point of checking the smuggling would be a little before it reaches the border, wouldn’t it?

But there is one more factor that is least talked about during these conversations and that is trading. Pakistan does not have a documented commodity market at least at scale but when it comes to undocumented trading, sugar is one of the biggest trading commodities due to its volatile and high-stakes nature. The evidence of forward contracts and satta in the sugar industry are well documented in the Sugar Inquiry Committee Report of 2020 and cause unnecessary speculation and price hikes in the market.

Sugar Mills have to finance the buying of sugarcane during the crushing season and to do so, they oversell their stocks to get cash. These stocks remain lying in the sugar mills and are traded more than a dozen times. One just has to call someone and transfer the amounts and then just tell them to sell at a later date without ever even looking at the commodity”, explained a market consultant talking to ProPakistani

“What if we tell you that there are people who have made up millions in profits in just 15-20 days by trading and hoarding sugar?” he mentioned.

He said that it ultimately jacks up the prices to the point where the market starts to feel a shortage long before there is actually a shortage. The government is responsible for ensuring that the sold sugar stocks are lifted within three days after selling but this rarely happens

After the Food Department recently asked all the sugar mills in Punjab for details on the stocks sold to dealers/brokers but yet unlifted, some sugar mills like Ittehad and JDW have imposed Rs. 20 per bag per day fine if the stocks are not lifted which will be implemented from Saturday but the move is too late from both government and sugar mills as the quantity hoarded privately is huge and is not coming in the market before these people squeeze all they can.

The arguments we often hear for the price hike put the blame on the rising cost of production, sales tax and policy rates. Some also argue that there is a natural two-year cycle of sugarcane of excess and shortage where sugar mills and farmers make huge sums due to high prices in years of shortage which brings more farmers to sugarcane, causing the excess but things are not that simple.

Sector That Never Lose

Sugar is Pakistan’s second biggest agro-based industry providing employment to 1.5 million people and its production accounts for 3.7 percent of agriculture’s value addition and 0.9 percent of GDP. During 2022-23, sugarcane was cultivated on 1,319 thousand hectares showing an increase of 4.7 percent compared to 1,260 thousand hectares last year.

The main factor that contributed to more area sown was the lucrative market prices of last year. Its production increased by 2.8 percent to 91.111 million tons over the previous year‘s 88.651 million tons. But over the years, the sugar industry has been criticized for building empires on a highly water-intensive crop in a country ranked third in terms of water scarcity and having regulatory protections for growth in terms of the high barrier to entry, 40 percent duty on sugar imports and support prices.

Listed Sugar Sector profits have grown by 23 percent YoY during 9MY2023 (Oct-June) and have more than tripled from 4 billion during 9MY2021 to Rs. 14 billion during 9MY2023 while the net profit margins have also doubled during the same time despite the rise in borrowing costs and sugarcane support prices. In years of excess, sugar mills would get export quotas and subsidies while they make huge profits in years of shortage anyway.

Sugar exports are only possible if the domestic sugar prices are lower than the international prices so exports are mostly allowed on the back of subsidies. Only a handful of people have made billions of this game of which nobody is willing to take responsibility because there is a fundamental argument for food sovereignty.

What we should tell to the consumers who would have been getting cheaper sugar in a better competitive market with fewer protections for the sugar industry and more protections for them?

We can also call sugar an unhealthy luxury whose usage must be limited but unless someone is willing to go on the news and tell 240 million people under extreme inflationary pressure to actually reduce their consumption, that argument needs to be put in the back drawer.

Moreover, the data shows that sugar consumption has only increased over time with the hike in prices and that’s exactly what some people in the sugar and trading community are always banking on.

It’s also argued that the sugar sector is extremely competitive but that’s the case within limited territories and circumstances where cane areas (sugar mill’s surrounding area) are too close and they often have to compete for the sugarcane during the years of shortage. In reality, still, nearly two dozen companies account for more than half of the national production and though the number has doubled since 2019, these are still powerful enough to manipulate the market and influence policy and administration.

The more surprising factor is that we have been here before in 2020 when both the sugar and wheat crisis grappled the country after exports were allowed without considering the implications on the domestic market and Pakistan ultimately had to import sugar.

But the recommendations made by the Sugar Sector Reforms Committee constituted post-FIA Investigation in 2021 were thrown out of the window which had called for pricing based on sucrose content in line with international practice, keeping import open all the time and export-only under limited circumstances, quarterly Inspections by FBR and massive fines up to Rs. 75 million on violations.

Domestic import tariffs of 40 percent do not let domestic prices respond to the fluctuations taking place in the international market, protecting the domestic sugar industry from competition in the international markets. Other countries having a comparative advantage mainly earn from sugar by-products, which have comparatively higher international prices than sugar.

In these countries, sugar is treated as a by-product and sold at a low price, unlike Pakistan. So there was a more severe crisis, there was a report with answers but I guess there will be a lot more of them before we get our act straight.

“The impression of shortage of sugar at this point in time is not understood. Pakistan at the outset of the sugar season 2022-23 had stocks of 8.15 million tons and our monthly consumption is 0.65 million tons. From November 2022 to July 2023, the consumption was 5.85 million tons for 9 months. For the rest of the three months, Pakistan needs 1.95 million tons, whereas stock availability in Pakistan is 2.3 million tons.” stated a press release issued by Pakistan Sugar Mills Association (PSMA).

Talking about the price hikes it said that the international sugar market is highly volatile causing leakage from the western border as our sugar being very popular due to its high quality and low domestic prices encourages smuggling.

The statement added that nearly 70 percent of the sugar goes to commercial use and only 30 percent is consumed by domestic consumers of which 15 percent is poor for which government already has different arrangements like utility stores. But taking the whole sugar sector hostage to over-regulation, which Courts have always discouraged from time to time, is not only unfair but detrimental to the growth of this sector. If this over-regulation persists, it will result in further reduction of sugarcane plantations and the government will have to spend billions of dollars to make up for the deficiency of domestic sugar production.

PSMA also acknowledged that there is potential for shortage during the upcoming season which the government needs to deal with preemptively.

Now whether the government is serious about importing sugar or not, it highlights the confidence and impunity with which the prices are jacked and the public is deprived of the right to accessing essential commodities at affordable prices through smuggling, speculation and satta.

Source: Pro Pakistani

Apple Patents a Video Game Display-Like Windscreen

Apple Inc. has submitted a patent for an augmented reality (AR) windshield, which may revolutionize driver experience and interaction with the road.Augmented reality is a technology that overlays digital information onto the actual environment. Expert…

Apple Inc. has submitted a patent for an augmented reality (AR) windshield, which may revolutionize driver experience and interaction with the road.

Augmented reality is a technology that overlays digital information onto the actual environment. Experts have likened it to the game Pokemon Go, but instead of gathering virtual critters, you (the driver) are maneuvering through traffic, obstacles, and pothole-riddled roads.

Apple’s patent advises utilizing a range of sensors like visible light cameras, infrared cameras, and even radar devices to construct a 3D picture of the world outside your car.

This model then serves as the canvas for all sorts of valuable (or possibly distracting) information. The patent proposes that the windshield displays simulated speed bumps if you’re driving too quickly, which sounds borderline dangerous for highway driving.

While the concepts are very ‘sci-fi’, there are some real-world obstacles to consider. For starters, turning an entire windshield into a high-quality AR display is difficult. The patent is a bit ambiguous on how this would actually function questioning its viability.

Driving safety is also a major concern with drivers being so engaged in their AR windshields that they forget they’re driving a car.

While its implications are unknown, AR windshield technology seems like an exciting prospect, especially for tech enthusiasts.

Source: Pro Pakistani

PTA Disposes Internet Provider’s Appeal to Not End its License

Pakistan Telecommunication Authority (PTA) disposed of the appeal of A Zee Internet Service Providers (SMC-Pvt.) Limited against termination of license, while concluding that the appellant has failed to comply with the terms and conditions of license….

Pakistan Telecommunication Authority (PTA) disposed of the appeal of A Zee Internet Service Providers (SMC-Pvt.) Limited against termination of license, while concluding that the appellant has failed to comply with the terms and conditions of license.

The Authority comprising Chairman Maj. Gen. Hafeez Ur Rehman (R), Dr. Khawar Siddique Khokhar Member (Compliance and Enforcement), and Muhammad Naveed Member (Finance) heard the appeal for restoration of license.

The company’s license was terminated against which it had filed an appeal. However, the Authority concluded that the company has failed to comply with the regulatory compliance i.e., terms and conditions of the license as well as directions with regard to submission of Annual Audited Accounts (AAAs) and payment of Annual License Fee (ALF).

Therefore, the Authority could not find any cogent reason and justification to interfere with the order for the termination of the company’s license.

Source: Pro Pakistani

Lahore Business Community Announces Strike Against High Electricity Bills

The business community of Lahore has taken a stand against the mounting electricity bills and surging inflation by declaring a widespread shutter-down strike on 2 September.Mujahid Maqsood Butt, the President of the Traders Association, issued a state…

The business community of Lahore has taken a stand against the mounting electricity bills and surging inflation by declaring a widespread shutter-down strike on 2 September.

Mujahid Maqsood Butt, the President of the Traders Association, issued a statement today confirming that markets throughout Lahore will be closed on Saturday. This comes as a direct response to the burden of exorbitant electricity bills and the unrelenting surge in inflation, which have cast a pall over the local business landscape.

Butt emphasized that the soaring utility bills are wreaking havoc on businesses, leaving them in a dire financial predicament. Urging swift action, he called upon Caretaker Prime Minister Anwaarul Haq Kakar to reverse the recent increase in electricity tariffs.

Karachi’s traders have also rallied in solidarity and announced a similar shutter-down strike scheduled for 1 September, aimed at addressing the same pressing concerns surrounding the inflated electricity bills.

The fervor of the protests has extended nationwide, with demonstrations from Karachi to Khyber. Some regions have witnessed the protests escalating into violence, underscoring the escalating tension stemming from the issue.

The protestors are demanding that the government abolish free electricity to privileged individuals and instead allocate relief to the common citizens, who are grappling with bills surpassing their incomes.

Source: Pro Pakistani

Does Fast Charging Ruin Electric Car Battery Life?

The impact of DC fast charging on the electric vehicle’s (EV) high-voltage battery in the long run is a pertinent question in every EV owner’s mind. In other words, how much will the battery degrade over time if fast charging is used regularly?A recen…

The impact of DC fast charging on the electric vehicle’s (EV) high-voltage battery in the long run is a pertinent question in every EV owner’s mind. In other words, how much will the battery degrade over time if fast charging is used regularly?

A recent study from Recurring Auto sought the answer to this question by analyzing the charging data from over 12,500 Tesla vehicles in the United States. According to the data, the rate of range degradation is statistically similar to slow AC charging.

The research firm compared cars that fast charge at least 90% of the time to cars that fast charge less than 10 percent of the time. The results show little to no difference between the two charging methods in terms of battery life.

The charts below show the percentage of the original range as shown on the cars’ dashboards – in this case, the Tesla Model 3 and Tesla Model Y – and the number of days.

Choosing DC (fast) charging over AC (slow) charging isn’t the only thing that can affect the battery in the long run. Factors such as extreme temperatures and very low or very high states of charge also play a big role in the big scheme of things.

However, results show that the robust thermal, voltage, and battery management systems protect batteries from damage with routine fast charger use.

Source: Pro Pakistani