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Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Harborside, LexinFintech, Colony Credit Real Estate, and Gol Linhas Aereas Inteligentes and Encourages Investors to Contact the Firm

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NEW YORK, Sept. 16, 2020 — Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of Harborside, Inc. (Other OTC: HSDEF), LexinFintech Holdings, Ltd. (NASDAQ: LX), Colony Credit Real Estate, Inc. (NYSE: CLNC), and Gol Linhas Aereas Inteligentes S.A. (NYSE: GOL). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.

Harborside, Inc. (Other OTC: HSDEF)

Class Period: July 2, 2019 to August 12, 2020

Lead Plaintiff Deadline: November 9, 2020

On May 29, 2020, the Company issued a press release entitled “Harborside Inc. Announces Intent to Restate Certain Historical Financial Statements and Delay in Filing Annual Financial Statements and MD&A” regarding the newly announced needed financial restatements and the suspension of trading of its Canadian shares.

On this news, shares of Harborside fell 2% per share over the next two trading days to close at $0.45 per share on June 2, 2020.

On June 22, 2020, Harborside issued a press release entitled “Harborside Inc. Provides Update to Management Cease Trade Order and Cease Trade Order” regarding its delayed restatements and the continued suspension of trading of its Canadian shares.

On this news, shares of Harborside fell l2% per share over the rest of the trading day and the next full trading day to close at $0.45 per share on June 23, 2020.

On June 30, 2020 issued a press release entitled “Harborside Inc. Provides Update on MCTO and Financial Statement Filings” regarding its delayed restatements and the continued suspension of trading of its Canadian shares.

On this news, shares of Harborside fell 7% per share, to close at $0.49 per share on July 1, 2020.

On July 10, 2020 issued a press release entitled “Harborside lnc. Provides Update on Financial Statement Filings” regarding its delayed restatements and the continued suspension of trading of Its Canadian shares.

On this news, shares of Harborside fell l3% per share, to close at $0.46 per share on July 13, 2020.

On August 12, 2020, Harborside filed with the Canadian securities regulatory authorities its Unaudited Restated Condensed Interim Consolidated Financial Statements for the Three and Six Months Ended June 30, 2019 and 2018.

On this news, shares of Harborside fell over 5%, to close at $0.67 per share on August 13, 2020.

The complaint, filed on September 9, 2020, alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Harborside had undisclosed material weaknesses and insufficient financial controls; (2) Harborside’s previously issued financial statements were false and unreliable; (3) Harborside’s earlier reported financial statements would need restatement; (4) as a result of the foregoing and subsequent reporting delays, Harborside’s Canadian stock trading would be suspended; (5) Harborside downplayed the negative impacts of errors and delays regarding its financial statements; and (6) as a result, defendants’ public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

For more information on the Harborside class action go to: https://bespc.com/HSDEF

LexinFintech, Ltd. (NASDAQ: LX)

Class Period: December 21, 2017 to August 24, 2020

Lead Plaintiff Deadline: November 9, 2020

On August 25, 2020, Grizzly Research published a report describing, among other things, how the Company: (i) reports artificially low delinquency rates by giving borrowers  in default new funds to make payments; (ii) has a business model that exposes shareholders to enormous losses; (iii) was still conducting direct peer to peer lending despite claiming otherwise, (iv) lacked internal controls; and (v) conducted undisclosed related party transactions.

On this news, shares of LexinFintech stock fell $0.47 per share or 5.52% to close at $8.04 per share on August 25, 2020

The complaint, filed on September 9, 2020, alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) LexinFintech reported artificially low delinquency rates by giving borrowers in default new funds to make payments; (2) the Company’s business model exposes shareholders to enormous losses by prioritizing Chinese lenders for off-balance sheet loans; (3) the Company exaggerated its user base; (4) the Company was facilitating direct peer to peer lending contrary to Chinese law; (5) the Company engaged in undisclosed related party transactions; (6) the Company lacked adequate internal controls; and (7) as a result, defendants’ public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

For more information on the LexinFintech class action go to: https://bespc.com/LX

Colony Credit Real Estate, Inc. (NYSE: CLNC)

Class Period: Common stock purchased or otherwise acquired pursuant and/or traceable to the Registration Statement and Prospectus (collectively, the “Registration Statement”) issued in connection with the combination of Colony NorthStar, Inc. (“Colony NorthStar”) and NorthStar Real Estate Income Trust, Inc. (“NorthStar I”) and NorthStar Real Estate Income II, Inc. (“NorthStar II”) on or about February 1, 2018 (the “Merger”).

Lead Plaintiff Deadline: November 9, 2020

The Company’s common stock was registered with the SEC in connection with the Merger. Following the Merger, Colony Credit’s common stock was listed on the New York Stock Exchange (“NYSE”) without an initial public offering: stockholders of NorthStar I received 0.3532 shares of the Company’s Class A common stock for each share of NorthStar I common stock they owned; and stockholders of NorthStar II received 0.3511 shares of the Company’s Class A common stock for each share of NorthStar II common stock they owned.

On August 8, 2019, Colony Credit issued a press release to report its second quarter 2019 financial results, in which it reported a $119 million provision for loan losses.

On this news, the Company’s share price fell $2.00 per share, or more than 12%, over two consecutive trading sessions to close at $14.05 per share on August 12, 2019.

On November 8, 2019, the Company announced a portfolio bifurcation of certain assets and disclosed a $127 million provision for loan losses.

On this news, the Company’s share price fell $2.50 per share, or nearly 18%, to close at $11.75 per share on November 8, 2019.

As of the date of the filing of this complaint, Colony Credit’s shares last closed at $5.40 per share, representing a more than 78% decline from the $25 book value per share valued at the time of the Merger.

The complaint, filed on September 10, 2020, alleges that the Registration Statement was materially false and misleading and omitted to state: (i) that the credit quality of certain of the Company’s assets had deteriorated prior to the Merger and were continuing to deteriorate at the time of the Merger; (ii) that certain of the Company’s loans, including four loans of approximately $261 million related to a New York hotel, were substantially impaired, there was insufficient collateral to secure the loans, and it was unlikely that the loans would be repaid; (iii) that, as a result, the valuation attributed to certain of the Company’s assets was overstated; (iv) that certain of the assets contributed as part of the Merger were of substantially lower value than reflected in the Company’s financial statements and the Registration Statement; (v) that, as a result, the Company’s financial condition, including its book value, was materially overstated; and (vi) that, as a result of the foregoing, the positive statements in the Registration Statement about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

For more information on the Colony Credit class action case go to: https://bespc.com/CLNC

Gol Linhas Aereas Inteligentes S.A. (NYSE: GOL)

Class Period: March 14, 2019 to July 22, 2020

Lead Plaintiff Deadline: November 10, 2020

In mid-June 2020, Gol’s auditor, KPMG, raised significant concerns about Gol during the accounting firm’s first annual audit of the Company after being hired in 2019, stating that it had an “adverse opinion” on the strength of Gol’s internal controls regarding the preparation of financial statements, adding that there was “substantial doubt” about the airline’s ability to exist a year from now.” KPMG’s adverse opinion prompted Gol to carry out a review of its financial reporting procedures.

On July 23, 2020, GOL announced that it had dismissed KPMG as the Company’s registered auditing firm.

On this news, shares of GOL fell $.055 per share, or 7%, to close at $7.25 per share on July 23, 2020

The complaint, filed on September 11, 2020, alleges that throughout the Class Period  defendants made false and/or misleading statements and/or failed to disclose that: (1) GOL had material weaknesses in its internal controls; (2) there was substantial doubt as to the Company’s ability to continue to exist as a going concern because of negative net working capital and net capital deficiency; and (3) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

For more information on the Gol class action go to: https://bespc.com/GOL

About Bragar Eagel & Squire, P.C.: Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com.  Attorney advertising.  Prior results do not guarantee similar outcomes. 

Contact Information: Bragar Eagel & Squire, P.C. Brandon Walker, Esq. Melissa Fortunato, Esq. Marion Passmore, Esq. (212) 355-4648 [email protected] www.bespc.com

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IT Tech Packaging, Inc. Advances Additional Orders Negotiation with One of Its Top 5 Customers

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BAODING, China, Sept. 24, 2020 /PRNewswire/ — IT Tech Packaging, Inc. (NYSE American: ITP) ("IT Tech Packaging" or "the Company"), a leading manufacturer and distributor of diversified paper products in North China, today announced that the Company is advancing negotiation with one of its top 5 customers, based in Shandong Province for orders of the paper products. The customer is currently ranked among the top 5 customers of the Company during the past couple of years.

Based on the negotiation, the Company and the customer will further cooperate on products supply and purchase in the next quarters and definitive new contracts are expected to be signed by the end of the year. Based on its increasing clients’ demand, the customer will continue to increase its purchase orders from the Company.

Mr. Zhenyong Liu, Chairman and Chief Executive Officer of IT Tech Packaging commented, "We are pleased with the negotiation with the customer for further partnership. As Chinese economy recovers from the COVID-19 epidemic with an amazing pace, our top clients such as companies focusing on printing and packaging are also receiving amount of orders and some even have backlog of orders, so they push forward the negotiations for raw materials and increase purchase volume of our products. We appreciate their confidence in our products as well as efficiency of delivery. We hope the stable partnership between us will continue contributing considerable revenue stream in the upcoming quarters."

About IT Tech Packaging, Inc.

Founded in 1996, IT Tech Packaging, Inc. is a leading manufacturer and distributor of diversified paper products in North China. Using recycled paper as its primary raw material (with the exception of its tissue paper products), ITP produces and distributes three categories of paper products: corrugating medium paper, offset printing paper and tissue paper products. With production based in Baoding and Xingtai in North China’s Hebei Province, ITP is located strategically close to the Beijing and Tianjin region, home to a growing base of industrial and manufacturing activities and one of the largest markets for paper products consumption in the country. ITP has been listed on the NYSE American since December 2009.

Safe Harbor Statements

This press release may contain forward-looking statements. These forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including risks outlined in the Company’s public filings with the Securities and Exchange Commission, including the Company’s latest annual report on Form 10-K. All information provided in this press release speaks as of the date hereof. Except as otherwise required by law, the Company undertakes no obligation to update or revise its forward-looking statements.

For more information, please contact:

At the Company Email:
[email protected]
Tel: +86 0312 8698215

Investor Relations:
Janice Wang
+86-138-1176-8559
+1-908-510-2351
EverGreen Consulting Inc.
Email: [email protected]

Related Links :

http://www.itpackaging.cn/

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DevOps World 2020 Award Winners Announced

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DEVOPS WORLD 2020CloudBees, Inc., the enterprise software delivery company, today announced the winners of its annual DevOps World Awards. Three sets of awards were given, honoring the outstanding achievements of CloudBees customers and contributors who have gone above and beyond in supporting the Jenkins and Jenkins X open source projects. The categories, which each have their own subcategories, include: CloudBees Innovation Awards, Jenkins Community Awards and Jenkins X Community Awards.

CLOUDBEES INNOVATION AWARDS

These awards honor companies that are achieving outstanding business results and returning value to their organizations using CloudBees solutions.

The winners are:

  • BNP Paribas CIB, for DevOps Automation Excellence. This award is presented to the customer that exemplifies the most outstanding automated DevOps process across a team or organization.
  • Capital One, for DevOps Scalability Achievement. This award is presented to the customer demonstrating the most outstanding highly-scaled continuous delivery and DevOps implementation across a team or organization.
  • Nationwide Building Society, for DevOps Rising Star. This award recognizes a company that has embarked on a DevOps transformation and has achieved impressive results right out of the gate, within the last year.
  • Internal Revenue Service (IRS) and Citizant (Prime Contractor), for Diversity in DevOps. This award recognizes an organization that has done two things: (1) Implemented diversity and inclusion practices within its DevOps community that embrace the uniqueness of all employees, and (2) Adopted practices that empower and celebrate team members to spur innovation and stronger business outcomes.

Every year, our panel comes away more impressed than ever by the innovative ways our customers are using technology to generate value across their software delivery systems, said Sacha Labourey, CEO and co-founder of CloudBees. This years award winners set a new standard for excellence and innovation in the use of DevOps.

JENKINS COMMUNITY AWARDS, JENKINS X COMMUNITY AWARDS

These awards celebrate individual contributors and their efforts within the Jenkins and Jenkins X projects.

The 2020 Jenkins Community Award winners are:

  • Tim Jacomb, from the United Kingdom, was recognized as Most Valuable Jenkins Contributor. The award is presented to an individual who has contributed to the Jenkins project the most through new features, bug fixes or plugin development efforts.
  • James Holderness, from the United Kingdom, was named Jenkins Security MVP, honored for most consistently providing excellent security reports or resolving security issues.
  • Marky Jackson, from the United States, earned the title of Most Valuable Jenkins Advocate, recognizing the individual who helped advocate for Jenkins through organization of a local Jenkins Area Meet­up(s) and Jenkins-related events.

The 2020 Jenkins X Community Award winners are:

  • Ankit Mohapatra, from the United States, was named Most Valuable Jenkins X New Contributor, presented to an individual who did their first contribution since this award category was first introduced at DevOps World last year, in August 2019.
  • Terry Cox, from the United Kingdom, received the award for Most Innovative Jenkins X Implementation, presented to an innovative individual who has embraced Jenkins X.

The Jenkins and Jenkins X communities are among the most active, committed and dedicated advocates for technology youll find anywhere, said Tracy Miranda, executive director of the Continuous Delivery Foundation. We are proud to have the DevOps World 2020 Awards shine a light on just a few of the many amazing contributions these communities make day after day, year after year.

Additional Resources

  • The CloudBees Innovation Award winners will be announced during the Day 3 opening keynote, The Power of Community.
  • The Community Awards winners will be announced during a session called Jenkins and Jenkins X Community Awards, on Thursday, September 24, at 9am PST.
  • See event agenda here: https://sessions.devopsworld.com/sessions.

About CloudBees

CloudBees, the enterprise software delivery company, provides the industrys leading DevOps technology platform. CloudBees enables developers to focus on what they do best: Build stuff that matters, while providing peace of mind to management with powerful risk mitigation, compliance and governance tools. Used by many of the Fortune 100, CloudBees is helping thousands of companies harness the power of continuous everything and gets them on the fastest path from a great idea, to great software, to amazing customer experiences, to being a business that changes lives.

Backed by Matrix Partners, Lightspeed Venture Partners, Verizon Ventures, Delta-v Capital, Golub Capital and Unusual Ventures, CloudBees was founded in 2010 by former JBoss CTO Sacha Labourey and an elite team of continuous integration, continuous delivery and DevOps professionals. Follow CloudBees on Twitter, LinkedIn and Facebook.

Media Contact

Sydney Holmquist

PAN Communications

+1.407.734.7327

[email protected]

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Latin America Is Considered One of the Best Regions to Invest After the Economic Crisis

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The outlook for Latin America remains challenging due to increased Covid-19 related debt (USD 34.8bn YTD) and significant structural reforms being debated by congresses across the region. Even as economies are slowly starting to rebound, the region faces high levels of contagion. Credicorp Capital Asset Management (CCAM) sees volatility and increasing opportunities ahead in the region.

Dario Valdizan Head of Buy Side Research at Credicorp Capital expects that, China’s fixed asset investment related growth will be supportive of an increasing demand for copper and iron ore, favoring countries like Chile and Peru. On the demand front, we see a more efficient deployment of government assistance in Brazil combined with a higher penetration of e-commerce as supportive backdrop to consumer staples.

Furthermore, he stated that, Although we expect sovereigns credit metrics to deteriorate, we do not foresee Latin Americas sovereign bonds losing their Investment Grade (IG) with the exceptions of Mexico and Colombia (which we expect to lose their IGs in the next 18 months). On the Corporate debt front, he mentioned that Latin America corporations were well prepared for the crisis with low debt ratios and solid balance sheets. Latin America’s Corporate spreads are more attractive compared to those of US or other Emerging Markets, even after the fast recovery from their peak reached in March at 880bps. CCAM prefers names in the consumer non-discretionary industry and the utilities sector for their resilience during this crisis.

When dealing with Covid-19, two distinct tactics emerged in Latin America. On one hand, the proactive, centralized government approach used by the Andean countries (Chile, Colombia and Peru) entailed drastic lockdowns and constant communications with regards to Covid-19 associated risks. On the other hand, Brazil and Mexico implemented decentralized approaches led by governors. This was possible due to their federal government structures. While Brazil implemented a robust fiscal and monetary response, Mexicos response involved an expanded role of its Central Bank beyond that of lender of last resort. As both presidents minimized the possible dangers of the pandemic, neither country addressed the impending health consequences, which is reflected in the contagion and death levels.

As countries have started to reopen their economies, investors have turned their attention to measuring mobility indicators in an attempt to gauge the velocity of a potential recovery. Full economic recovery hinges on governments abilities to identify and reach those parts of their populations requiring assistance. Countries with mature digital, health, and government infrastructures are at a distinct advantage while those lacking in it are at risk of a permanent second wave until a vaccine is developed and distributed.

About us

Credicorp Capital is part of Credicorp Ltd., the leading and largest financial holding company in Peru with more than 130 years of history, which is listed on the New York Stock Exchange (NYSE: BAP) and has a market capitalization of USD 20.12 billion *.Credicorp Capital is one of the subsidiaries of the holding Credicorp Ltd., which groups together BCP, Prima, Pac­fico, Mibanco, Krealo and Credicorp Capital. It is also a holding company dedicated to providing financial services that arose from the consolidation of three leading Latin American corporations in Colombia, Chile and Peru. Additionally, it is a regional platform dedicated to providing financial advisory services. Today, it has a presence in 5 countries, Colombia, Chile, Peru, USA and United Kingdom, more than 1,500 employees and USD 30.7 billion ** of Assets Under Advisory/Management.

* Source: Credicorp / Information at the end of 2019, considering an exchange rate of USD 3.34

** Source: Credicorp Capital / Information at the end of 2019 (includes assets under custody managed by the Wealth Management team)

Diana Carolina Enriquez Avilez

[email protected]

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Editorial & Advertiser disclosureOur website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.
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