EDWARDS LIFESCIENCES has been Sued for Securities Fraud after Stock Plummets 31%; Contact the Firm before December 13 Class Action Deadline (NYSE:EW)
NEW YORK, Nov. 02, 2024 (GLOBE NEWSWIRE) — Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against Edwards Lifesciences Corporation EW and certain of the Company’s senior executives for potential violations of the federal securities laws.
If you invested in Edwards Lifesciences, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/edwards-lifesciences-corporation.
Investors have until December 13, 2024 to ask the Court to be appointed to lead the case. The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in Edwards Lifesciences securities. The case is pending in the U.S. District Court for the Central District of California and is captioned Patel v. Edwards Lifesciences Corporation, et al., No. 24-cv-02221.
What is the Lawsuit About?
The Complaint alleges that Edwards is an international company that researches, develops, and provides products and technologies for heart valve repair and replacement therapies, as well as critical care monitoring solutions. Edwards categorizes its therapies and technologies into four categories: Transcatheter Aortic Valve Replacement (“TAVR”), Transcatheter Mitral and Tricuspid Therapies (“TMTT”), Surgical Structural Heart therapies, and Critical Care therapies.
As alleged, Edwards consistently touted the TAVR platform, the significant unmet demand for TAVR, and the Company’s ability to capitalize on that demand by scaling its various patient activation activities.
These statements were allegedly materially false and misleading. In truth, TAVR’s demand and growth had stalled as Defendants’ patient activation activities failed to reach the perceived low-treatment-rate population and healthcare organizations prioritized other treatments over TAVR.
On July 24, 2024, Edwards slashed guidance for TAVR for fiscal 2024 and announced disappointing financial results for TAVR for fiscal 2Q 24. This is allegedly because developments in new procedures, including Defendant’s own TMTT, put significant strain on hospital structural heart teams such that they were underutilizing TAVR, despite the Company’s continued claims of a significantly undertreated patient population.
The news disclosed on July 24, 2024 caused a significant 31% decline in the price of Edwards stock, from $86.95 per share on July 24, 2024 to $59.70 per share on July 25, 2024.
Click here if you suffered losses: https://www.bfalaw.com/cases-investigations/edwards-lifesciences-corporation.
What Can You Do?
If you invested in Edwards Lifesciences you may have legal options and are encouraged to submit your information to the firm.
All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.
Submit your information by visiting:
https://www.bfalaw.com/cases-investigations/edwards-lifesciences-corporation
Or contact:
Ross Shikowitz
ross@bfalaw.com
212-789-3619
Why Bleichmar Fonti & Auld LLP?
Bleichmar Fonti & Auld LLP is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It was named among the Top 5 plaintiff law firms by ISS SCAS in 2023 and its attorneys have been named Titans of the Plaintiffs’ Bar by Law360 and SuperLawyers by Thompson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors (pending court approval), as well as $420 million from Teva Pharmaceutical Ind. Ltd.
For more information about BFA and its attorneys, please visit https://www.bfalaw.com.
https://www.bfalaw.com/cases-investigations/edwards-lifesciences-corporation
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LifeCare Properties Announces Sale of Award-Winning Senior Community, The Blake at Waco
WACO, Texas, Nov. 1, 2024 /PRNewswire/ — LifeCare Properties, developer of senior living communities based in Biloxi, Mississippi, recently announced the sale of The Blake at Waco to a publicly traded Real Estate Investment Trust (REIT). The transaction was expertly facilitated by Cody Tremper and his team at Berkadia Seniors Housing & Healthcare.
LifeCare Properties achieves strategic sale of The Blake at Waco, paving the way for future growth.
The Blake at Waco, a 112-unit, resort-style assisted living and memory care community, has set a high standard in senior care with its design and amenities. The community, built in 2021 adjacent to the Baylor Scott & White Hospital campus, features 71 assisted living units and 41 memory care units, along with amenities such as a salon, movie room, on-site physical therapy clinic, and flexible floor plan suites.
LifeCare Properties’ design partner, Banko Design, earned the 2022 Bronze Award from the American Society of Interior Designers (ASID) for its outstanding interior design in the Multifamily Senior Living category for The Blake at Waco.
Brooks Holstein, Founder of LifeCare Properties, commented on the transaction, “We are incredibly proud of what we’ve accomplished with The Blake at Waco, not just in terms of operations and resident satisfaction, but also in excellence of design, as recognized by our design partner Banko Design’s Bronze Award from ASID. This transaction represents a significant milestone for LifeCare Properties. Selling to a leading publicly traded REIT not only validates our success in creating valuable, high-quality properties, but also strategically positions us to leverage this achievement for further growth.”
Blake Management Group will continue to operate the community, ensuring that the high standards of care and service that residents have come to expect will remain unchanged. The sale underscores LifeCare Properties’ focus on enhancing the value and quality of senior living communities through exceptional design and management.
About LifeCare Properties
LifeCare Properties, LLC (LCP), specializes in developing institutional-grade senior living communities. Leveraging extensive market selection experience and relationships with national and regional contractors, LCP consistently develops successful communities. Founded on core values of integrity, knowledge, accountability, and results, LCP’s parent company, COMVEST Properties, LLC, is a family-owned, multi-generational development and investment company with a diverse real estate portfolio including hotels, restaurants, retail, and senior living.
For additional information about LifeCare Properties, please visit www.lifecarepropertiesllc.com.
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SOURCE LifeCare Properties
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TD BANK has been Sued for Securities Fraud after Money Laundering Guilty Plea; Contact the Firm before December 23 Class Action Deadline (NYSE:TD)
NEW YORK, Nov. 02, 2024 (GLOBE NEWSWIRE) — Leading securities law firm Bleichmar Fonti & Auld LLP announces an investigation into The Toronto-Dominion Bank TD for potential violations of the federal securities laws.
If you invested in TD Bank, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/the-toronto-dominion-bank.
Why Did TD Bank’s Stock Drop?
TD Bank is the 10th largest bank in the United States.
On October 10, 2024, TD Bank pleaded guilty to criminal money-laundering-related charges and agreed to pay more than $3 billion in fines to the U.S. Department of Justice, the Federal Reserve, the Comptroller of the Currency, and the Treasury Department’s Financial Crimes Enforcement Network. The Comptroller of the Currency also imposed an “asset cap” that prevents TD Bank from growing any larger than its current size.
The news caused a significant decline in the price of TD Bank stock. On October 10, 2024, the price of the company’s stock fell 6.4%, from a closing price of $63.51 per share on October 9, 2024, to $59.44 per share on October 10, 2024.
Click here for more information: https://www.bfalaw.com/cases-investigations/the-toronto-dominion-bank.
What Can You Do?
If you invested in TD Bank you may have legal options and are encouraged to submit your information to the firm. All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.
Submit your information by visiting:
https://www.bfalaw.com/cases-investigations/the-toronto-dominion-bank
Or contact:
Ross Shikowitz
ross@bfalaw.com
212-789-3619
Why Bleichmar Fonti & Auld LLP?
Bleichmar Fonti & Auld LLP is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It was named among the Top 5 plaintiff law firms by ISS SCAS in 2023 and its attorneys have been named Titans of the Plaintiffs’ Bar by Law360 and SuperLawyers by Thompson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors (pending court approval), as well as $420 million from Teva Pharmaceutical Ind. Ltd.
For more information about BFA and its attorneys, please visit https://www.bfalaw.com.
https://www.bfalaw.com/cases-investigations/the-toronto-dominion-bank
Attorney advertising. Past results do not guarantee future outcomes.
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Lincoln Avenue Communities Closes Financing for New Affordable Housing Development in Maricopa, Arizona
The mission-driven affordable housing company’s new ground-up construction project will create 271 affordable homes for families in Pinal County.
MARICOPA, Ariz., Nov. 1, 2024 /PRNewswire/ — Lincoln Avenue Communities (LAC), a mission-driven acquirer and developer of affordable housing, today announced that it has closed financing for the construction of The Ranches at Gunsmoke, a ground-up development in partnership with WNC & Associates (WNC) that will create 271 new affordable homes for families in Maricopa earning no more than 60% of the Area Median Income.
“We’re thrilled to collaborate with WNC on our third ground-up development in central Arizona,” said LAC CEO Jeremy Bronfman. “LAC is proud to now have over 800 units of high-quality affordable housing for individuals and families under construction in Pinal County.”
The Ranches at Gunsmoke is LAC’s first Build-to-Rent (BTR) development and will feature a mix of two- and three-bedroom duplexes and standalone homes, each with a patio space, walk-in closets, and a private fenced backyard. The community will offer amenities including a fitness center, pool, grilling areas, a clubhouse, and rental storage units. Additionally, a solar carport system will be installed to offset approximately 50% of the community’s electricity usage. The project is expected to be completed in 2026.
“This project is a stellar example of new, affordable housing designed specifically for families, with plentiful amenities. WNC welcomes the drive, thoughtfulness and Innovation of LAC’s long-term approach to meeting the housing needs of the community,” said Darrick Metz, Senior Vice President of Originations at WNC. “WNC is providing 40% of the project’s financing, and we are proud of our part in helping the Maricopa community grow.”
The project’s financing package includes back-to-back construction and permanent loans from Citibank, $65 million in tax-exempt bonds issued by the Arizona Development Authority, and $49 million in Low-Income Housing Tax Credits (LIHTC) and solar equity from WNC.
About LAC: Lincoln Avenue Communities (LAC) is one of the nation’s fastest-growing developers, investors, and operators of affordable and workforce housing, providing high-quality. sustainable homes for lower- and moderate-income individuals, seniors, and families nationwide. A subsidiary of Lincoln Avenue Capital, LAC is a mission-driven organization with a presence in 28 states and a portfolio of 155+ properties comprising 27,000+ units.
About WNC & Associates: Founded in 1971, WNC & Associates (WNC) is a family-owned business known as both a pioneer and leader in the affordable housing industry. WNC and its affiliated companies specialize in tax credit syndication, affordable housing development, and preservation equity fund investments. Combined, the WNC companies have acquired approximately $18.2 billion in assets across 48 states, including more than 1,800 affordable rental properties that house more than 1 million residents. With offices in 16 states, WNC has partnered with more than 400 developers and 125 institutional investors.
View original content to download multimedia:https://www.prnewswire.com/news-releases/lincoln-avenue-communities-closes-financing-for-new-affordable-housing-development-in-maricopa-arizona-302294400.html
SOURCE Lincoln Avenue Communities
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EPCOR Announces Quarterly Results and 2025 Dividend Increase
EDMONTON, AB, Nov. 1, 2024 /CNW/ – EPCOR Utilities Inc. (EPCOR) today filed its quarterly results for the period ended September 30, 2024.
“EPCOR’s operational and financial performance was ahead of expectations for the first nine months of the year,” said John Elford, EPCOR President & CEO. “We saw continued growth in the customer base in Canada and the United States, as well as weather-driven increases in water and electricity consumption in multiple markets.”
“EPCOR’s teams continued to execute our capital program, with a focus on utility reliability, environmental performance, and customer affordability,” Mr. Elford continued. “In the first nine months of 2024, capital expenditures totalled $680 million. Based on the forecast performance of our businesses, the EPCOR dividend is being increased by 4.1% from $193 million in 2024 to $201 million in 2025.”
Highlights of EPCOR’s financial performance are as follows:
- Net income was $131 million and $339 million for the three and nine months ended September 30, 2024, respectively, compared with net income of $118 million and $266 million for the comparative periods in 2023, respectively. The increase of $13 million and $73 million for the three and nine months ended September 30, 2024, respectively, was primarily due to fair value adjustments related to financial electricity purchase contracts, higher Adjusted EBITDA1 (as described below), partially offset by lower transmission system access service charge net collections combined with higher depreciation, income tax and finance expenses.
- Adjusted EBITDA1 was $326 million and $860 million for the three and nine months ended September 30, 2024, compared with $305 million and $805 million for the comparative periods in 2023, respectively. The increase of $21 million and $55 million for the three and nine months ended September 30, 2024, respectively, was primarily due to higher rates, consumption, customer growth and commercial activity, partially offset by lower commercial construction activity and Energy Price Setting Plan margins combined with higher operating costs.
- Investment in capital projects was $680 million for the nine months ended September 30, 2024, compared with $687 million for the corresponding period in 2023.
Interim management’s discussion and analysis and the unaudited condensed consolidated interim financial statements are available on EPCOR’s website (www.epcor.com) and SEDAR+ (www.sedarplus.ca).
EPCOR builds, owns and operates electrical, natural gas and water transmission and distribution networks, water and wastewater treatment facilities, and sanitary and stormwater systems in Canada and the United States. EPCOR also provides electricity, natural gas and water products and services to residential and commercial customers. EPCOR, headquartered in Edmonton, is committed to conducting its business and operations safely and responsibly. Environmental stewardship, public health and community well-being are at the heart of EPCOR’s mission to provide clean water and safe, reliable energy. EPCOR is one of Alberta’s Top 80 Employers, is ranked among Corporate Knights’ 2024 Best 50 Corporate Citizens in Canada and is designated a Utility of the Future Today by the Water Environment Federation.
Appendix 1 Non-GAAP Financial Measures
EPCOR uses earnings before finance expenses, income tax recovery (expense), depreciation and amortization, changes in the fair value of derivative financial instruments, transmission system access service charge net collections and other unusual items (collectively, Adjusted EBITDA) to discuss operating results for EPCOR’s lines of business. Adjusted EBITDA is a non-GAAP financial measure and is not a standardized financial measure under IFRS and might not be comparable to similar financial measures disclosed by other issuers.
The reconciliation between Adjusted EBITDA to Net income as reported under IFRS Accounting Standards is shown below:
|
($ millions)
|
Three months ended September 30, |
Nine months ended September 30, |
||
|
2024 |
2023 (restated)1 |
2024 |
2023 (restated)1 |
|
|
Adjusted EBITDA by Segment |
||||
|
Water Services segment |
$ 145 |
$ 124 |
$ 374 |
$ 332 |
|
Distribution and Transmission segment |
76 |
72 |
217 |
194 |
|
Energy Services segment |
13 |
19 |
41 |
47 |
|
North American Commercial Services segment |
26 |
28 |
67 |
85 |
|
U.S. Regulated Water segment |
62 |
56 |
137 |
127 |
|
Other |
4 |
6 |
24 |
20 |
|
Adjusted EBITDA |
326 |
305 |
860 |
805 |
|
Finance expenses |
(52) |
(46) |
(153) |
(140) |
|
Income tax expense |
(11) |
(6) |
(26) |
(8) |
|
Depreciation and amortization |
(115) |
(107) |
(327) |
(317) |
|
Change in fair value of financial electricity purchase |
(1) |
(29) |
6 |
(85) |
|
Transmission system access service charge net |
(16) |
1 |
(21) |
11 |
|
Net income |
$ 131 |
$ 118 |
$ 339 |
$ 266 |
|
1. |
During the fourth quarter of 2023, the Company realigned its operating segments to reflect the results of an internal reorganization. The reorganization resulted in the formation of a new operating segment, North American Commercial Services, which combines certain previously existing businesses in a new reportable segment. Comparative segmented results for 2023 have been restated to align with the 2024 reportable segment presentation. |
|
2. |
The change in fair value of derivative financial instruments represents the change in fair value of financial electricity purchase contracts between the electricity market forward prices and the contracted prices at the end of the reporting period, for the contracted volumes of electricity. |
|
3. |
Transmission system access service charge net collections is the difference between the transmission system access service charges paid to the provincial system operators and the transmission system access service charges collected from electricity retailers. Transmission system access service charge net collections are timing differences, which are collected from or returned to electricity retailers as the transmission system access service charges and customer billing determinants are finalized. |
SOURCE Epcor Utilities Inc.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/November2024/01/c9800.html
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Trump's World Liberty Crypto Project Targets Offshore Markets, Limits US Token Offering To Just $30M
Donald Trump supported decentralized finance protocol World Liberty Financial is reportedly marketing its $300 million offering of tokens primarily offshore.
What Happened: World Liberty currently plans to sell only $30 million of tokens in the U.S., according to a Bloomberg report, which cited a filing with the U.S. Securities and Exchange Commission (SEC.)
Once it touches the $30 million threshold, World Liberty will terminate the U.S. offering despite having tokens worth about $288.5 million available for sale, the report said, noting that most token issuances are done offshore due to heavy scrutiny in the U.S.
World Liberty is being promoted by Trump and his sons. Since Oct. 15, it has raised about $2.7 million by selling tokens to 348 U.S. investors, according to the filing.
Why It Matters: World Liberty is based in Wilmington, Delaware. In the filing with the SEC, Donald Trump, Donald (Jr) Trump, Eric Trump, Steven Witkoff, Axiom Management Group, WC DigitalFi LLC, and DT Marks DEFI LLC are listed as promoters of the project.
“This person is included for informational purposes and does not reflect a determination that such person is a “promoter” as defined under Rule 405 of the Securities Act,” the filing said.
Puerto Rico-based Axiom Management Group owners Zachary Folkman and Chase Herro, meanwhile, are listed as executive officers and directors of the project.
Check out more of Benzinga’s Future Of Mobility coverage by following this link.
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Madison Pacific Properties Inc. announces the results for the year ended August 31, 2024
VANCOUVER, British Columbia, Nov. 01, 2024 (GLOBE NEWSWIRE) — Madison Pacific Properties Inc. (the Company) MPC, a Vancouver-based real estate company announces the results of operations for the year ended August 31, 2024.
The results reported are pursuant to International Financial Reporting Standards (IFRS) for public companies.
For the year ended August 31, 2024, the Company is reporting a net loss of $44.2 million (2023: net income of $19.0 million); cash flows generated from operating activities before changes in non-cash operating balances of $11.4 million (2023: $9.5 million); and loss per share of $0.74 (2023: income per share of $0.31). Included in net loss is a provision of $51.5 million (2023: $nil) for uncertain tax positions recognizing a tax liability for unpaid taxes, estimated interest expense and awarded legal costs and provisions against the carrying value of the Company’s tax deposits and deferred tax assets related to unused carryforward amounts. Also included in net loss are equity earnings of associate and joint ventures of $0.4 million (2023: $7.4 million), net loss on the fair value adjustment on investment properties of approximately $0.2 million (2023: net gain of $5.7 million), losses on fair value adjustment on interest rate swaps of $4.2 million (2023: $0.1 million) , property revenues of $44.5 million (2023: $40.5 million) and interest expense of $12.7 million (2023: $10.7 million).
As at August 31, 2024, the Company owns approximately $708 million in investment properties (August 31, 2023: $695 million).
As at the date of this Press Release, the Company’s investment portfolio comprises 55 properties with approximately 1.9 million rentable sq. ft. of industrial and commercial space and a 50% interest in seven multi-family rental properties with a total of 219 units. Approximately 91.25% of available space within the industrial and commercial investment properties is currently leased and within the multi-family residential properties, 98.2% is currently leased. The Company’s development properties include a 50% interest in the Silverdale Hills Limited Partnership which currently owns approximately 1,405 acres of primarily residential designated development lands in Mission, British Columbia.
For a review of the risks and uncertainties to which the Company is subject, see its most recently filed annual and interim MD&A.
| Contact: | Mr. John Delucchi | Ms. Bernice Yip | |
| President & CEO | Chief Financial Officer | ||
| Telephone: | (604) 732-6540 | (604) 732-6540 | |
| Address: | 389 West 6th Avenue | ||
| Vancouver, B.C. V5Y 1L1 |
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Dogecoin Set For 'Parabolic Bull Run' In November, Says Analyst: 'Keep An Eye Out For A Sustained Close' Above This Level
A prominent crypto analyst has forecasted a potential surge for Dogecoin DOGE/USD in November, sparking interest among traders and investors.
What Happened: Popular crypto analyst Ali Martinez has shared insights suggesting that Dogecoin might experience a significant upward trend this month. In a recent strategy session with his 76,400 followers on X, Martinez highlighted historical patterns indicating a potential rally for the meme coin.
Martinez notes that November often brings substantial growth for Dogecoin.
“History hints that November could spark a parabolic bull run for #Dogecoin $DOGE! Keep an eye out for a sustained close above $0.20.”
Dogecoin is trading at approximately $0.161, having gained over 0.8% in the last 24 hours. It has surged over 20% over the past week.
See Also: Chamath Palihapitiya Says Gen-Z Has ‘Decoupled’ Financial Freedom From Traditional 9-5 Jobs
In addition to Dogecoin, Martinez is optimistic about other large-cap altcoins, including Polkadot DOT/USD. He suggests that DOT could surpass $6.00 by year-end, with its current trading price at $3.92.
Martinez also mentions that the Solana (SOL)–based memecoin Dogwifhat WIF/USD is gearing up for a bullish move to $3, currently trading at $2.21.
Why It Matters: The recent dip in Dogecoin’s price has led traders to identify critical support zones for potential rebounds.
A “cup and handle” formation on Dogecoin’s daily chart, starting in June, suggests bullish potential. The $0.15 support zone is crucial, with a possible bounce propelling DOGE to $0.22.
Moreover, the cryptocurrency industry is anticipating a favorable regulatory environment following the U.S. presidential elections. Industry leaders are hopeful for supportive policies from Washington, regardless of the election outcome. This optimism could further influence the crypto market, including Dogecoin’s performance.
Price Action: At the time of writing, Dogecoin was up 0.2% over the last 24 hours, trading at $0.161, according to Benzinga Pro data.
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