7-DAY DEADLINE: Khang & Khang LLP Announces Securities Class Action Lawsuit against Aratana Therapeutics, Inc. and Encourages Investors with Losses to Contact the Firm

IRVINE, Calif., March 31, 2017 (GLOBE NEWSWIRE) — Khang & Khang LLP (the “Firm”) announces a class action lawsuit against Aratana Therapeutics, Inc. (“Aratana” or the “Company”) (Nasdaq:PETX). Investors who purchased or otherwise acquired shares between March 16, 2015 and February 3, 2017, inclusive (the “Class Period”), are encouraged to contact the Firm in advance of the April 7, 2017 lead plaintiff motion deadline.
If you purchased shares of Aratana during the Class Period, please contact Joon M. Khang, Esquire, of Khang & Khang, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or via e-mail at joon@khanglaw.com.There has been no class certification in this case. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.The Complaint states that throughout the Class Period, Aratana made false and/or misleading statements and/or failed to disclose: that the Company did not have manufacturing contracts in place sufficient to support manufacturing of its appetite stimulation drug ENTYCE at a commercial scale; ENTYCE was not likely to be commercially available until late 2017; the Company had misled investors with respect to the likely timeline for a commercial launch of ENTYCE; and that as a result of the above, Aratana’s public statements were materially false and misleading at all relevant times.On February 6, 2017, the Company disclosed that the Center for Veterinary Medicine requested more information about ENTYCE. Aratana told investors that it “now anticipates that ENTYCE … will be commercially available by late 2017” and that the CVM’s demand was “in connection with the Company’s post-approval supplement request to transfer the manufacturing of ENTYCE to a new vendor in order to produce ENTYCE at a commercial scale.”If you wish to learn more about this lawsuit, or if you have questions concerning this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or via e-mail at joon@khanglaw.com.This press release may constitute Attorney Advertising in some jurisdictions.Contacts

Joon M. Khang, Esq.
Telephone: 949-419-3834
Facsimile: 949-225-4474
joon@khanglaw.com

Rent What? Inc. Announces Newest Grand Drape Set Dubbed 'Dark Angel' Now Available for Rent

Rent What? Inc. president, Megan Duckett, announces the newest addition to the firm’s rental drapery inventory, a grand drape set dubbed, “Dark Angel”.

RANCHO DOMINGUEZ, CA, UNITED STATES, March 31, 2017 /EINPresswire.com/ — Rental drapery provider, Rent What? Inc., located in Rancho Dominguez, CA , is happy to announce the newest addition to their rental drapery inventory, dubbed “Dark Angel”. The specialty grand drape set is now available for one-time performances, concerts or longer tour rentals.

Rent What? president Megan Duckett states, “We feel this rental drape provides the same beauty and “wow factor” as our Crimson Cabaret Grand drape set in our Timeless and Traditional Drapery Collection. It combines unique design with versatility. The dramatic look lends itself to use in a wide variety of concert set designs in genres ranging from hard rock to pop to country, depending on the design of the additional set elements.”

The set includes two bi-parting drapes (making up a Grand Traveler approximately 60′ wide). Its design features a sexy, sparkling combination of Black 15oz Encore fabric adorned with Silver Illusion, Black Chrome Illusion, Silver Bullion Fringe, and most dramatically, a repeated “angel wing” motif in rhinestone applique. Sister company Sew What? Inc. designed and manufactured the rental drape set.

The Dark Angel drape set was recently showcased at a photo and video shoot in Los Angeles, California. The firm’s management felt, “where better to display the drape set than the theatre of the historic Ace Hotel in Los Angeles, a delicately restored, 1,600-seat movie palace from the 1920s?”

The Theatre at Ace Hotel showcases a grand entrance, leading to the intricately detailed theater with a vaulted ceiling with thousands of tiny mirrors that glimmer when lit. The theatre’s awe-inspiring craftmanship is truly a true feast for the eyes and the creative spirit – which according to Rent What? president Duckett is not unlike the new “Dark Angel” grand drape set. Duckett predicts, “I’m sure that this amazing rental drapery set will be flying out the doors in the upcoming tour season.”

Rent What? additionally has a variety of other rental options, including specialty drapery, masking drapes, lift systems, hardware and automation equipment, and pipe and drape, making it a popular rental provider for promoters and organizers.

For more views of the drape set, along with a wide variety of others, visit the Sew What? / Rent What? company’s flickr galleries. Those wanting more information can go online and contact Rent What? , or call (310) 639-6000 to discuss rentals for upcoming performances, shows or tours.

About Rent What? Inc.

Rent What? Inc. is committed to providing an ultimate experience in drapery rental products and customer service. The firm, located in Rancho Dominguez, CA, has set the stage for artists including Janet Jackson, Foo Fighters, Nickelback and John Legend. In addition to its large inventory of Inherently Flame Retardant stage drapes, traveler tracks and portable dressing rooms, the company is widely regarded for its basic pricing schedules, innovative damage waiver policy and fast and friendly service. For information, contact Rent What? Inc. at (310) 639-6000.

About Sew What? Inc.

Sew What? Inc., located in Rancho Dominguez, California, is a well-known stage and #theatrical drapery #manufacturer known for its dramatic theatrical drapes and fabrics used in major rock concerts, top fashion shows and other artistic staged venues. Their drapes and #backdrops have dressed the stages of Miley Cyrus, Carrie Underwood, Madonna, and Rod Stewart to name a few. The company has received numerous awards for innovation, including the Dell/NFIB Small Business Excellence Award, and was featured on the 1000th cover of Rolling Stone. For information, contact Sew What? Inc. at (310) 639-6000, or email inquiries@sewwhatinc.com.

Lynda Vaughn
Sew What? Inc.
310-639-6000
email us here

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APPROACHING DEADLINE ALERT: Khang & Khang LLP Announces Securities Class Action Lawsuit against Under Armour, Inc. and Encourages Investors with Losses Over $100,000 to Contact the Firm

IRVINE, Calif., March 31, 2017 (GLOBE NEWSWIRE) — Khang & Khang LLP (the “Firm”) announces a class action lawsuit against Under Armour, Inc. (“Under Armour” or the “Company”) (NYSE:UA) (NYSE:UAA). Investors who purchased or otherwise acquired shares between April 21, 2016 and January 30, 2017 inclusive (the “Class Period”), are encouraged to contact the Firm in advance of the April 10, 2017 lead plaintiff motion deadline.
If you purchased shares of Under Armour during the Class Period, please contact Joon M. Khang, Esquire, of Khang & Khang, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or via e-mail at joon@khanglaw.com.There has been no class certification in this case. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.The Complaint alleges that during the Class Period, Under Armour made materially false and misleading statements and/or failed to disclose that one of its largest wholesale retailers, The Sports Authority, was facing bankruptcy and as a result, Under Armour was at risk of not meeting its revenue and profit margins. On January 30, 2017, the Company filed a Form 8-K wherein CEO Kevin Plank, noted that “numerous challenges and disruptions in North American retail tempered our [Company’s] fourth quarter results.” The Company also reported that its CFO was leaving the Company.If you wish to learn more about this lawsuit, or if you have questions concerning this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or via e-mail at joon@khanglaw.com.This press release may constitute Attorney Advertising in some jurisdictions.Contacts

Joon M. Khang, Esq.
Telephone: 949-419-3834
Facsimile: 949-225-4474
joon@khanglaw.com

SHAREHOLDER ALERT:  Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Kandi Technologies Group, Inc. of Class Action Lawsuit and Upcoming Deadline – KNDI

NEW YORK, March 31, 2017 (GLOBE NEWSWIRE) — Pomerantz LLP announces that a class action lawsuit has been filed against Kandi Technologies Group, Inc. (“Kandi” or the “Company”) (NASDAQ:KNDI) and certain of its officers.   The class action, filed in United States District Court, Southern District of New York, and docketed under 17-cv-01944, is on behalf of a class consisting of all persons or entities who purchased or otherwise acquired Kandi securities between March 16, 2015 and March 13, 2017 both dates inclusive (the “Class Period”), seeking to recover compensable damages caused by defendants’ violations of the Securities Exchange Act of 1934.If you are a shareholder who purchased Kandi securities during the Class Period, you have until May 15, 2017 to ask the Court to appoint you as Lead Plaintiff for the class.  A copy of the Complaint can be obtained at www.pomerantzlaw.com.   To discuss this action, contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll free, ext. 9980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and number of shares purchased. [Click here to join this class action]Kandi Technologies Group, Inc., through its subsidiaries, designs, produces, manufactures, and distributes electric vehicles (EVs) products, EV parts, and off-road vehicles in the People’s Republic of China and internationally. Its EV parts comprise battery packs, body parts, EV drive motors, EV controllers, air conditioning units, and other auto parts.The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects.  Specifically, Defendants made false and/or misleading statements and/or failed to disclose that:  (i) certain areas in the Company’s previously issued financial statements for the years ended December 31, 2015 and 2014, and the first three quarters for the year ended December 31, 2016 required adjustment; (ii) in turn, the Company lacked effective internal controls over financial reporting; and (iii) as a result of the foregoing, Kandi’s public statements were materially false and misleading at all relevant times.   On November 14, 2016, the Company announced the abrupt resignation of Cheng Wang, the Company’s Chief Financial Officer at the time.  On this news, Kandi’s share price fell $0.40, or over 10%, to close at $3.50 on November 14, 2016.On March 13, 2017, post market, Kandi filed a Current Report on Form 8-K with the SEC, announcing that the Company would restate previously issued financial statements for the years ended December 31, 2015 and 2014, and the first three quarters for the year ended December 31, 2016.  On this news, Kandi’s share price fell $0.30, or approximately 6%, to close at $4.05 on March 14, 2017.The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.comCONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com

SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Kitov Pharmaceuticals Holdings Ltd. of Class Action Lawsuit and Upcoming Deadline – KTOV

NEW YORK, March 31, 2017 (GLOBE NEWSWIRE) — Pomerantz LLP announces that a class action lawsuit has been filed against Kitov Pharmaceuticals Holdings Ltd. (“Kitov” or the “Company”) (NASDAQ:KTOV) and certain of its officers.  The class action, filed in United States District Court, Southern District of New York, and docketed under 17-cv-00917, is on behalf of a class consisting of all persons or entities who purchased or otherwise acquired Kitov American Depositary Receipts (“ADRs”) pursuant and/or tradeable to the Company’s initial public offering on or about November 20, 2015 (the “IPO”) and/or on the open market between November 20, 2015 and February 3, 2017, both dates inclusive (the “Class Period”), seeking to recover compensable damages caused by defendants’ violations of the Securities Exchange Act of 1934.
If you are a shareholder who purchased Kitov securities during the Class Period, you have until April 10, 2017 to ask the Court to appoint you as Lead Plaintiff for the class.  A copy of the Complaint can be obtained at www.pomerantzlaw.com.  To discuss this action, contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll free, ext. 9980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and number of shares purchased. [Click here to join this class action]Kitov is a clinical development stage biopharmaceutical company that develops combination drugs for the simultaneous treatment of pain caused by osteoarthritis and hypertension.  The Company’s lead drug candidate is KIT-302, a fixed dosage combination product based on the generic drugs celecoxib and amlodipine besylate, that has completed its Phase III clinical study.The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company and its Chief Executive Officer (“CEO”) Isaac Israel published misleading information concerning the conduct of the Company’s clinical trials for its lead drug candidate KIT-302; and (ii) as a result of the foregoing, Kitov’s public statements were materially false and misleading at all relevant times. On February 6, 2017, the Israeli publication Calcalist reported that Kitov’s CEO Isaac Israel had been detained and questioned by the Israeli Securities Authority (“ISA”) on suspicion of publishing misleading information in connection with a clinical trial of KIT-302.On this news, Kitov’s ADR price fell $0.33, or 11.46%, to close at $2.55 on February 6, 2017. On February 7, 2017, the NASDAQ halted trading of Kitov’s ADRs.  That same day, Kitov issued a news release, formally advising investors of the ISA’s investigation into the Company’s public disclosures regarding KIT-302.The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.comCONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com

INVESTOR ALERT: Khang & Khang LLP Announces Securities Class Action Lawsuit against Galena Biopharma, Inc. and Encourages Investors with Losses Over $100,000 to Contact the Firm

IRVINE, Calif., March 31, 2017 (GLOBE NEWSWIRE) — Khang & Khang LLP (the “Firm”) announces a class action lawsuit against Galena Biopharma, Inc. (“Galena” or the “Company”) (Nasdaq:GALE). Investors who purchased or otherwise acquired shares between August 11, 2014 and January 31, 2017, inclusive (the “Class Period”), are encouraged to contact the Firm in advance of the April 14, 2017 lead plaintiff motion deadline.
If you purchased shares of Galena during the Class Period, please contact Joon M. Khang, Esquire, of Khang & Khang, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or by e-mail at joon@khanglaw.com.There has been no class certification in this case. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.The complaint alleges that throughout the Class Period, Galena made false and/or misleading statements and/or failed to disclose that: the Company’s sales of Abstral were based on unsustainable sales and marketing practices; that such sales and marketing practices could subject the Company to a criminal investigation; and that as a result of the above, Galena’s statements about its business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.On March 10, 2016, the Company disclosed that “[a] federal investigation of two of the high-prescribing physicians for Abstral has resulted in the criminal prosecution of the two physicians for alleged violations of the federal False Claims Act and other federal statutes,” and that the Company was issued a trial subpoena for documents related to that investigation. The Company also noted that “other governmental agencies may be investigating our Abstral promotion practices,” and that “on December 16, 2015, we received a subpoena issued by the U.S. Attorney’s Office in District of New Jersey requesting the production of a broad range of documents pertaining to our marketing and promotional practices for Abstral.”On January 31, 2017, Galena announced that Mark W. Schwartz, President and Chief Executive Officer during this time, was resigning from his position.If you wish to learn more about this lawsuit, or if you have questions concerning this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or by e-mail at joon@khanglaw.com.This press release may constitute Attorney Advertising in some jurisdictions.
Contacts

Joon M. Khang, Esq.
Telephone: 949-419-3834
Facsimile: 949-225-4474
joon@khanglaw.com

SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in The Toronto-Dominion Bank of Class Action Lawsuit and Upcoming Deadline – TD

NEW YORK, March 31, 2017 (GLOBE NEWSWIRE) — Pomerantz LLP announces that a class action lawsuit has been filed against The Toronto-Dominion Bank (“TD Bank” or the “Company”) (NYSE:TD) and certain of its officers.   The class action, filed in United States District Court, District of New Jersey, and docketed under 17-cv-01735, is on behalf of a class consisting of all persons or entities who purchased or otherwise acquired TD Bank securities between December 3, 2015 and March 9, 2017 both dates inclusive (the “Class Period”), seeking to recover compensable damages caused by defendants’ violations of the Securities Exchange Act of 1934.
If you are a shareholder who purchased TD Bank securities during the Class Period, you have until May 11, 2017 to ask the Court to appoint you as Lead Plaintiff for the class.  A copy of the Complaint can be obtained at www.pomerantzlaw.com.  To discuss this action, contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll free, ext. 9980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and number of shares purchased. [Click here to join this class action]The Toronto-Dominion Bank conducts a general banking business through banking branches and offices located throughout Canada and overseas. The Bank and other subsidiaries offer a broad range of banking, advisory services, and discount brokerage to individuals, businesses, financial institutions, governments, and multinational corporations.The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects.  Specifically, Defendants made false and/or misleading statements and/or failed to disclose that:  (i) the Company’s wealth asset growth and increased fee-based revenue was spurred by a performance management system that led to its employees breaking the law at their customers’ expense in order to meet sales targets; (ii) the Company illicitly increased customers’ lines of credits and overdraft protection amounts without their knowledge; (iii) the Company illicitly upgraded customers to higher-fee accounts without permission; (iv) the Company lied to customers as to the risk of the Company’s products and services; and (v) as a result of the foregoing, TD Bank’s public statements were materially false and misleading at all relevant times.       On March 6, 2017, CBC News published a report based on interviews with several TD Bank Group employees, who spoke about the “incredible pressure” to “squeeze profits from customers by signing them up for products and services they don’t need.” On March 10, 2017, CBC News published a more detailed second report, where it reported that hundreds of current and former employees had responded to the first CBC report with additional stories of pressure to upsell customers.On this news, TD Bank’s share price fell $2.74, or 5.29%, to close at $49.03 on March 10, 2017.The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com 
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com

SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in RH of Class Action Lawsuit and Upcoming Deadline – RH

NEW YORK, March 31, 2017 (GLOBE NEWSWIRE) — Pomerantz LLP announces that a class action lawsuit has been filed against RH (“RH” or the “Company”) (NYSE:RH) and certain of its officers. The class action, filed in United States District Court, Northern District of California, and docketed under 17-cv-01425, is on behalf of a class consisting of all persons or entities who purchased or otherwise acquired RH securities between March 26, 2015 and June 8, 2016 both dates inclusive (the “Class Period”), seeking to recover compensable damages caused by defendants’ violations of the Securities Exchange Act of 1934.
If you are a shareholder who purchased RH securities during the Class Period, you have until April 3, 2017 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll free, ext. 9980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and number of shares purchased. [Click here to join this class action]RH is a leading luxury retailer in the home furnishing marketplace. The Company operates an integrated business with multiple channels of distribution including over 70 retail stores in the United States, source book magazines and websites. In 2015, RH announced a new product line, RH Modern. The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) contrary to Defendants’ representations that the Company was prepared for the launch of RH Modern, that inventory was adequate, and that customers would not face shipping delays, in reality, the Company had severely inadequate inventory and was woefully unprepared to launch RH Modern; and (ii) as a result, RH’s public statements were materially false and misleading at all relevant times.In early 2015, the Company’s core product line was facing headwinds as same store sales were decreasing. Specifically, in the RH’s earnings report for the first quarter of 2015, the Company announced its comparable store sales were down 9% from the previous quarter. To reinvigorate RH’s earnings, the Company began implementing its critical new product line, RH Modern. On June 11, 2015, the Company officially announced it would be releasing RH Modern later that fall. From the start of the Class Period, the Company touted its preparedness for the launch of RH Modern and increased its fiscal 2015 revenue guidance to $2.146 billion to $2.176 billion, representing growth in the range of 15% to 17% from the prior year. After raising its earnings-per-share (“EPS”) guidance to $2.95 to $3.10 for fiscal 2015 the previous quarter, the Company again raised its earnings guidance to a range of $3.02 to $3.15, representing growth in the range of 28% to 33% year-over-year. RH attributed the growth in revenue and earnings, in large part, to the release of RH Modern. In the months leading up to the release of RH Modern, the Company continued to tout the new product line, including the Company’s ability to have the new RH Modern products in-stock so that customers would receive furniture they ordered in a timely manner. In truth, the Company was woefully unprepared to launch RH Modern and to capitalize on the new product line. In December 2015, when RH Modern inventory problems began to emerge, the Company repeatedly downplayed the significance of the problems related to RH Modern, preventing investors from learning the full truth.On December 10, 2015, the Company announced it had missed its earnings projections due, in part, to the fact that RH Modern furniture was not fully in-stock. On this news, RH’s share price fell $8.94 or 10.20% over two trading days, to close at $78.65 on December 14, 2015. On February 9, 2016, the Company announced the surprise resignation of its Chief Operating Officer, Kenneth Dunaj, who just one year prior had been put in charge of inventory management.On February 24, 2016, the Company announced disappointing earnings for the fourth quarter of 2015 due to shipping delays of the RH Modern furniture. On this news, RH’s share fell $13.43, or 25.86%, to close at $38.49 on February 25, 2016. On June 8, 2016, RH announced the Company’s financial and operating results for the first quarter of 2016 and significantly reduced its earnings guidance for fiscal year 2016, citing “accommodations largely due to . . . production delays” in RH’s new product line, RH Modern, which the Company had previously touted as “the most important and significant new home furnishings business to be launched in the last 15 or 20 years.”  On this news, RH’s share price fell $7.66, or 21.24%, to close at $28.41 on June 9, 2016.The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.comCONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com

EIB grants a USD 82m loan to Bolivia to widen the Confital to Bombeo road to two lanes

Bolivia East-West corridor

Bolivia East-West corridor

EIB grants a USD 82m loan to Bolivia to widen the Confital to Bombeo road to two lanes

03/31/2017

EIB

asuncion, Bolivia

The operation was signed today in Asunción, where the EIB is attending the Inter-American Development Bank’s annual meeting.

The European Investment Bank (EIB) will provide USD 82m to finance the construction of new two lanes per direction on the road connecting the Confital and Bombeo areas, forming part of the east-west corridor. This important route links the country’s three largest cities – La Paz, Cochabamba and Santa Cruz – while also connecting Bolivia with Brazil, Peru and Chile. To this end, the project will improve links both within the country and abroad. EIB Vice-President and head of Latin America Román Escolano and Bolivian Planning and Development Minister Mariana Prado signed the agreement today in Asunción, where the Inter-American Development Bank’s annual meeting is being held.

The loan signed today will make it possible to implement the investments needed to widen 44 km of road in the Cochabamba department to two lanes per direction and will have a positive economic and social impact. This EIB-backed project will improve road transport connections with other countries, thereby facilitating exports. At the same time it will make it possible to alleviate the heavy traffic across the area, as journeys will be faster and safer. Work will begin this year.

This is the second project in Bolivia to be financed by the EIB. The first loan, signed three years ago, provided USD 68m to finance another major road between Uyuni and Tupiza, on that occasion on the corridor linked the south and centre of the country.

At the signing ceremony, EIB Vice-President Román Escolano highlighted the following: “the EIB is providing favourable financing terms for an important project that will make it possible to support infrastructure development in Bolivia. This is one of the European Union’s objectives in Latin America, to which the EIB, as the EU bank, contributes with loans promoting sustainable economic growth and social development across the region.

The EIB loan signed today with the Plurinational State of Bolivia is covered by the EU guarantee agreement and is granted under the EU Latin America lending mandate 2014-2020.

The EIB Vice-President and head of Latin America is in Paraguay to attend the Inter-American Development Bank’s 2017 annual meeting in Asunción. During his visit to the Paraguayan capital, the EIB Vice-President is also meeting with economy, finance and development ministers from various Latin American countries, as well as with representatives from several Latin American and international financial institutions, with the aim of continuing to work to strengthen cooperation between the European Union and Latin America.

The EIB in Latin America

The European Union is Latin America’s main economic development partner and the EIB, as the EU bank, supports cooperation between both regions by financing projects that help meet EU foreign policy objectives: economic development, social and environmental infrastructure, private sector development and tackling climate change.

The EIB provides economic support for projects in Latin America by facilitating long-term investment with favourable conditions and by providing the technical support needed to ensure that these projects deliver positive social, economic and environmental results.

Since the EIB began operations in Latin America in 1993, it has facilitated financing for 100 projects in 14 different countries in the region, with total investment of EUR 7bn. In 2016, the EU bank provided EUR 519m to implement various projects in Brazil, Ecuador and Panama.

EIB confirms EUR 200 million long-term loan to State Bank of India to support Indian large scale solar projects

The European Investment Bank today confirmed new support for solar power generation in India in partnership with the State Bank of India. The EUR 200 million (INR1,400 Crores) long-term loan will support total investment of EUR 650 million in five different large-scale photo-voltaic solar power projects and contribute to India’s National Solar mission and reduce dependence on fossil fuel power generation. Four schemes across the country, with a generation capacity of 530 MWac, have already been identified.

The European Investment Bank is one of the world’s largest lenders for renewable energy investment and this new initiative represents the EIB’s largest ever support for solar power in Asia. Owned by the 28 members states of the European Union the European Investment Bank is the world’s largest international public bank.

The loan agreement was formally announced in New Delhi ahead of the inauguration of the first permanent presence in India of the European Investment Bank by Finance Minister Jaitley, European Investment Bank President Werner Hoyer and Vice President Andrew McDowell, responsible operations in India and South Asia.

“The new cooperation between the State Bank of India and the European Investment Bank will scale up investment in large scale solar power generation across India. Close cooperation between technical and financial teams from both institutions will ensure that world class projects are supported.” highlighted Mr B Sriram, Managing Director, State Bank of India. 

“Large scale investment in renewable power is essential to enhance affordable, reliable and sustainable energy. The European Investment Bank is pleased to strengthen our close partnership with the State Bank of India to support world class solar energy developments that will make a significant contribution to India’s ambitious renewable energy goals. Unlocking new investment in large scale solar generation is crucial to ensure that renewable energy plays a leading role in India’s energy mix in the years ahead. This new project reflects the shared commitment of India and the European Union to tackle climate change and implement the Paris Climate Agreement.” said Andrew McDowell, Vice President of the European Investment Bank, speaking at the start of a four day official visit to India.

The EUR 200 million 20 year long-term European Investment Bank loan will support individual projects following technical and financial due diligence. It is expected that projects in Telangana and Tamil Nadu states, and elsewhere in the country, will be backed by the new initiative. The European Investment Bank will support investment in individual solar projects alongside financing from Indian banks and project promoters.

The entire process of arranging the loan was facilitated by SBI’s subsidiary, SBI Capital Markets.

“This new initiative demonstrates the European Investment Bank’s commitment to support climate related investment and sustainable development around the world and here in Asia. We are pleased to highlight the importance of this project and renewable energy investment in India at the opening of our new Representation to South Asia in New Delhi.” added Vice President McDowell.

Whilst in the country the high-level European Investment Bank delegation will meet the Managing Directors of the India Renewable Energy Development Agency (IREDA) and India Infrastructure Finance Limited (IIFL) to discuss future support for renewable energy investment in India.

The European Investment Bank has financed projects totalling EUR 1.7 billion (approx.INR 11,900 crores) in India since 1993. Last year the European Investment Bank Group provided EUR 84 billion to finance new investment around the world, including EUR 19.6 billion for climate related investment.