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NEW YORK, Aug. 5, 2020 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Net Element, Inc. ("NETE" or the "Company") (NASDAQ: NETE) in connection with the proposed merger of the Company with privately-held electric vehicle company Mullen Technologies, Inc. ("Mullen"). Under the terms of the agreement, NETE's wholly owned subsidiary will merge with Mullen, with the shareholders of Mullen becoming owners of 85% of the outstanding common stock of NETE upon close of the merger. The remaining 15% of the combined surviving company will be owned by former NETE shareholders. If you own NETE shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website: https://www.weisslawllp.com/net-element-inc/ Or please contact:Joshua Rubin, Esq.WeissLaw LLP1500 Broadway, 16th FloorNew York, NY 10036(212) 682-3025(888) email@example.com WeissLaw is investigating whether NETE's board was fully informed as to the valuation of the proposed merger given Mullen's status as a privately-held company and prospective majority ownership of the combined company, whether the board acted to maximize shareholder value prior to entering into the merger agreement, and whether all information regarding the valuation of the deal will
Joe Biden and Donald Trump Ron Adar | Echoes Wire | Barcroft Media via Getty Images; Mandel Ngan | AFP | Getty Images In most presidential election years, conventional wisdom says the IPO window closes by mid-summer so that companies avoid the shadow of the November contest, a time when markets can be jittery. That convention doesn't apply this year. The country is mired in the worst pandemic in a century and suffered its steepest-ever quarterly plunge in economic activity in the second quarter. Yet the equity markets are rallying, and tech stocks are trading at historical premiums. In polls, Democratic candidate Joe Biden holds a commanding lead over President Donald Trump. Wall Street may like Trump, but it's OK with Biden, who was vice president during much of the bull market, which started shortly after Barack Obama took office in 2009. For high-growth software companies eyeing the public market, that means talks with bankers are quickly ramping up. "We could find ourselves in a very strong second half here as we go into the elections," said Jackie Kelley, Americas IPO and strategic transactions leader at Ernst & Young. "We're already seeing increased
Square surged 7.1 per cent after the payments processor reported a 64 per cent rise in second-quarter revenue, as consumers increased online buying and used its peer-to-peer Cash App platform during the pandemic. As quarterly results have come in better-than-feared and heavyweight technology and technology-related companies have surged, a heavy dose of fiscal and monetary stimulus have helped fuel a rally in equities to bring the S&P 500 to less than 2 per cent from its closing record on Feb. 19. With 384 companies in the S&P having reported earnings through Wednesday morning, results are coming in 23.5 per cent above expectations, in aggregate, according to Refinitiv data, the highest on record back to 1994. Economic data painted a mixed picture, as US services industry activity gained momentum in July, according to an ISM survey, with new orders jumping to a record high. However, hiring declined, supporting views that a recovery in the labor market was faltering. Earlier, the ADP National Employment Report, which can be an inconsistent precursor to the government payrolls report set for Friday, showed US private employers hired far fewer workers than expected last month. "We know we had this tremendous rebound off the
CHICAGO, Aug. 05, 2020 (GLOBE NEWSWIRE) -- Century Aluminum Company (NASDAQ: CENX) today announced its second quarter 2020 results. Second Quarter 2020 Financial Results Shipments of 210,309 tonnes, a 4% increase over prior quarter Net sales of $401.9 million, a 5% decrease over prior quarter primarily due to lower LME prices and regional premiums Net loss of $(26.9) million, or $(0.30) per share Adjusted net loss(1) of $(18.4) million, or $(0.19) per share Adjusted EBITDA(1) of $4.7 million $MM (except shipments and per share data) Q1 2020 Q2 2020 Shipments (tonnes) 202,905 210,309 Net sales $ 421.2 $ 401.9 Net income (loss) $ (2.7 ) $ (26.9 ) Diluted earnings (loss) per share $ (0.03 ) $ (0.30 ) Adjusted net income (loss)(1) $ 1.0 $ (18.4 ) Adjusted earnings (loss) per share(1) $ 0.01 $ (0.19 ) Adjusted EBITDA(1) $ 28.1 $ 4.7 Notes: (1) Non-GAAP measure; see reconciliation of GAAP to non-GAAP financial measures In the second quarter of 2020, shipments of primary
DUBAI (REUTERS) - A large fire which broke out on Wednesday evening (Aug 5) at a market in the emirate of Ajman in the United Arab Emirates caused no injuries or deaths and had been brought under control, the head of Ajman police said. Parts of the market which had been closed for four months due to coronavirus precautions collapsed and were completely burned, Sheikh Sultan bin Abdullah al-Nuaimi said in a statement carried by state news agency WAM. The site is being dampened down and an investigation will be launched, he said.