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DEADLINE ALERT: Bragar Eagel & Squire, P.C. Reminds Investors That a Class Action Lawsuit Has Been Filed Against Ultra Petroleum Corp. and Encourages Investors to Contact the Firm

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Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that a class action lawsuit has been filed in the United States District Court for the District of Colorado on behalf of investors that purchased Ultra Petroleum Corp. (Other OTC: UPLCQ, NASDAQ: UPL) common stock between April 3, 2017 and August 8, 2019 (the Class Period). Investors have until November 2, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

Click here to participate in the action.

Ultra Petroleum is an oil and gas development company with primary assets in the Pinedale and Jonah fields of the Green River Basin of southwest Wyoming. Over 80% of the Companys revenues have historically been derived from the development and sale of natural gas.

On May 14, 2020, Ultra Petroleum filed for bankruptcy protection and is not named as a defendant in the action.

In April 2017, at the beginning of the Class Period, Ultra Petroleum exited a court-supervised reorganization under Chapter 11 of the U.S. Bankruptcy Code. According to defendants, Ultra Petroleum exited the bankruptcy in growth mode. Defendants stated that the Company was poised to maximize the value of its substantial oil and gas deposits (which they valued at $4.19 billion, including $1.5 billion of proved undeveloped reserves) through ramped up production in 2017 and 2018 and that Ultra Petroleum was on track to produce between 290 and 300 billion cubic feet equivalent (Bcfe) in 2017, with 25% production growth over these figures in 2018. Defendants represented that the Company had the financial and production flexibility to weather even a low-commodity-price environment and was set to ramp up well development with 10 rigs operating by 2018 on the back of an estimated $788 million capital budget. Accretive to this plan was the launch of a horizontal well drilling program, which Ultra Petroleum executives claimed was set to significantly expand the production capabilities of the Companys existing wells.

Then, beginning in August 2017, soon after exiting bankruptcy, Ultra Petroleum began issuing a series of revelations demonstrating that it could not grow production by any meaningful amount and that its wells were worth a fraction of the values previously represented. Finally, on August 9, 2019, Ultra Petroleum announced disappointing results for the second quarter of 2019, disclosing that total revenues for the quarter had decreased 18%, that the Companys horizontal well program had been effectively halted, and that it was lowering its 2019 projected capital investments to a range of $260 million to $290 million and annual production to a range of 238 to 244 Bcfe.

On this news, the price of Ultra Petroleum stock declined 31% to just $0.09 per share and continued to fall to just $0.01 per share, 99% below the stocks Class Period high. On August 22, 2019, Ultra Petroleum stock was delisted. And in May 2020, the Company was forced to enter bankruptcy proceedings yet again in order to seek a court-ordered reorganization.

The complaint, filed on September 1, 2020, alleges that these and similar statements issued by defendants during the Class Period were materially false and misleading when made. Throughout the Class Period, defendants, inter alia: (i) materially overstated the value of Ultra Petroleums oil and gas reserves; (ii) materially misrepresented the Companys ability to ramp up production and its financial flexibility; (iii) failed to disclose the Companys extreme sensitivity to even a modest decline in natural gas prices; and (iv) concealed significant setbacks in the Companys vaunted horizontal well drilling program.

If you purchased Ultra Petroleum common stock during the Class Period and suffered a loss, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato, Marion Passmore, or Brandon Walker by email at [email protected], telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.

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.

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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80+ social innovators from around the world to shape the New Normal online at the 13th Social Enterprise Summit

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HONG KONG SAR – Media OutReach – 19 November 2020 – The 13th Social Enterprise Summit kicked off today in an online format. The three-day international symposium will host dialogues with over 80 leading social innovators in more than 20 forums, workshops and interactive sessions. Speakers and participants from all over the world will have the chance to engage on this unique cross-sector platform.

 

This year’s Social Enterprise Summit (SES) has chosen the theme “new normal · collective power”. Everyone in our society will require some shifts to come out of the current situations during a year of pandemic, the Summit will identify ways for generating new social power by bringing different sectors together more closely. This is the first time that an online format has been used for the Summit, enabling social entrepreneurs from many different countries to interact without geographic limitations. “History will mark 2020 as one of the most disruptive years ever, a year of survival and change,” said Rebecca CHOY YUNG, Chair of the SES Organising Committee. “Social issues have never been as complex as they are now, and this calls for new ways of thinking. We need to be innovative and use our collective power to tackle and solve the entrenched social issues in this era of the ‘new normal’.”

 

The Summit began at 10:00am with a keynote address by Mr Jeremy HEIMANS (US) and Mr Henry TIMMS (US), Co-Authors of New Power. According to these speakers, “New power is the ability to harness the energy of the connected crowd; it is the deployment of mass participation and peer coordination to create change, shift outcomes and achieve the best result.” Mr TIMMS shared the example of a global philanthropic movement #GivingTuesday that engages people in close to 100 countries and which has generated over US$1 billion for good causes.

 

Followed by a Policy Dialogue at 11:00am, where The Honourable Bernard Charnwut CHAN, Convenor of the Non-Official Members, Executive Council of Hong Kong SAR Government; Dr Chi-kwong LAW, Secretary for Labour and Welfare Bureau of Hong Kong SAR Government, and other speakers talked about social innovation and social finance, policies and how the civil society, business, policymakers and academia are developing a shared value city.

 

At 2:30pm, Mr Francis NGAI (HK), Founder and CEO of Social Ventures Hong Kong, will host the Thematic Session “Overcoming Challenges 2.0: Rebuilding City Resilience”, a multi-perspective discussion on rebuilding resilience in our city and suggesting ways to face different challenges. The panellists will include Mr David YEUNG (HK), Founder and CEO of Green Monday; Dr LAU Ming-Wai (HK), Founder and Director of MWYO and Chairman of Chinese Estates Holdings Limited, and Ms Vicky FUNG (HK), Co-founder of Every Life Is A Song.

 

The second Thematic Session, at 4:00pm, titled “Transformation”. Ms Ada WONG (HK), Founder and Chair, Make A Difference (MaD) Institute and Convenor and Director, Good Lab Foundation; Dr Wichuda Na Songkhla SRIYAPHAI, Ph.D (Thailand), Chief Executive Officer of Wandee Group Holdings, along with other social entrepreneurs from Hong Kong and Vietnam will share their experience and stories on how to capture opportunities and scale impact in the volatile and uncertain world of 2020.

 

Four discussion tracks will take place on 20 November. The first track is “Community Empowerment”; it will explore ways of unleashing the latent power in our communities to transform the pressures of recent times into positive power; to change and to embrace the “new normal”. The second track is “Digital Social Innovation”, it will explore how open data, citizen science and shifts in work practices can be used to drive informed and productive changes in our personal, professional, and social journeys along the digital social innovation highway. The “Sustainability and Business” track will consider sustainability strategies, practices and business models that prioritize sustainability and lay the foundations for a more resilient and sustainable business ecosystem of shared values. Finally, the “Education Innovation” track will explore various innovative education initiatives such as adopting a skills-based approach in social entrepreneurship education, building an education transformation movement to change traditional practices in schools, as well as using behavioural science as a tool for developing a better society.

 

The last day of this year’s symposium will be on 21 November, featuring the Asia Youth Entrepreneurship Exchange and a social innovation workshop. Titled “Yesterday’s Heritage; Today’s Transformation; Tomorrow’s DYNAMIC INNOVATION”, the concluding session will take the form of a specially curated narrative involving guest speakers from across generations and social sectors, who will share their insights into “The New Normal To Be”.

 

Members of the public are free to register to take part in SES 2020. Besides the International Symposium, an online exhibition is set up to introduce the various projects of the Social Innovation and Entrepreneurship Development Fund. Four intermediaries will set up a live online session to facilitate participant interaction, these intermediaries are: Fullness Social Enterprises Society Ltd, The Hong Kong Council of Social Service, PolyU Technology and Consultancy Co Ltd., and The Society of Rehabilitation and Crime Prevention, Hong Kong. The exhibition is available for delegates to visit for an entire month as from 19th November.

 

FREE Registration for SES 2020: http://bit.ly/SES2020Reg. For full agenda, or download SES registration brochure: https://www.ses.org.hk/sites/default/files/share/2020/SES%202020_Programme%20Book_12m.pdf.

 

About Social Enterprise Summit

Social Enterprise Summit (SES) is a cross-sector platform to inspire and empower social innovation and social entrepreneurship. The flagship International Symposium builds on the experiences of over 80 speakers from 15 locations to inspire, innovate, connect and collaborate with delegates from the civic society, businesses, government and academic sectors from Hong Kong, China; Asia Pacific region and beyond to advance positive societal changes.

 

2020 Theme: “new normal · collective power 19-21. 11. 2020 Online

The turn of the decade 2020 begins with a pandemic affecting people around the world, raising attention to health and changing the way people work, study, commute or socialise. Everyone in our society will require some shifts to come out of the current situations. Collective efforts are needed to re-focus on fostering mutually reinforcing solutions, continuous communication towards common agendas and making swift decisions based on current data and measurement. This International Symposium will examine the process through 4 thematic tracks: Community Empowerment, Digital Social Innovation, Sustainability and Business as well as Education Innovation.

 

Community engagement activities are held in eight different districts in Hong Kong during the year to expand the participation and reach beyond the conference rooms, applying knowledge, social entrepreneurship and innovative mindsets to various day to day life settings.

 

Official Website: http://ses.org.hk

Facebook: [View Image]https://www.facebook.com/SocialEnterpriseSummit/

Linkedin: https://www.linkedin.com/company/sesummit/

Instagram: [View Image]https://www.instagram.com/ses_socialinnovation/

Youtube Channel: https://www.youtube.com/user/SESummitHK

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Joinland Group Delivering Socio-Economic Benefits To Papua New Guinea Islanders

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Over 3 Million Trees Planted on New Hanover Island

 

KUALA LUMPUR, MALAYSIA – Media OutReach – 20 November 2020 – The Joinland Group, a diversified Malaysian conglomerate of varied business interests, has planted over 3 million trees on the Papua New Guinea (PNG) island of New Hanover since the inception of its agriculture and forestry venture, the Central New Hanover Agro-Forestry Project in 2012.

 

This milestone achievement is just one of many initiatives that the Joinland Group has undertaken to ensure the long-term and sustainable socio-economic development of both the island and its residents — meeting its commitments as a responsible partner to the island community.

 

Since the New Hanover Project began, Joinland Group has planted 2.5 million rubber trees, 560,000 cocoa trees and 54,000 coconut trees in order to create sustainable jobs and income for local residents and landowners both now and in the future.

 

Commenting on this achievement Dato’ Sri Thomas Hah Tiing Siu, the founder of Joinland, said, “We are happy to have achieved this tree planting milestone. Our New Hanover project in Papua New Guinea is benefitting members of the surrounding communities as the efforts of our labour over the past eight years are starting to bear fruit. Our goal is to empower the people of New Hanover and provide opportunities for them to earn income both in the short and long term.”

 

Joinland’s New Hanover Project, which covers a total of 56,592 hectares, was always planned as a long-term project with several phases designed to contribute to the economic and social growth of the residents of New Hanover. The first phase, which was to develop New Hanover’s underutilised land in a sustainable manner, is well underway. While Joinland has already planted over 3 million trees, the company is committed to hitting a target of 5 million by 2022.

 

The second phase of the project, encompassing the processing and marketing of the agricultural crops, is currently in progress with the objective of ensuring that New Hanover’s farmers and landowners reap maximum value for these agricultural resources. The third phase of the project is also already underway. This phase is focused on environmental sustainability, primarily the reforestation of areas cleared as part of the project.

 

Currently Joinland is planting 15 essential native tree species for every single tree cleared as part of its forestry activities, which fund all the socio-economic investments that the company is making to benefit the residents of New Hanover and the Papua New Guinea government via enhanced tax revenues. So far, the company has planted over 800,000 calophyllum trees, as part of its effort to preserve the natural ecosystem of the island.”

Concluding Dato’ Sri Thomas, said, “Joinland has clearly demonstrated its long-term commitment to the sustainable socio-economic development of New Hanover and its residents. We are happy with what we have achieved to date, but are also determined to maintain and even enhance our efforts in partnership with the Papua New Guinea government, New Hanover stakeholders and residents moving forward. We remain committed to successfully developing the island and improving the lives of everyone on it.”

 

About Joinland Group

The Joinland Group is a diversified Malaysian conglomerate including property, plantation, forestry and agricultural management, insurance and shipping businesses, to name a few. The company operates businesses and investments in many markets including Malaysia, Singapore, Brunei, Australia, Papua New Guinea, China and New Zealand, among others.

 

The company was founded by Dato’ Sri Thomas Hah Tiing Siu, a self-made entrepreneur who started out in the cold storage business. In 2013 he was awarded the honorary title of Dato’ Sri by the Sultan of Pahang (Malaysia) in recognition of his management skills and business acumen in building the Joinland Group.

 

For more information on the Joinland Group please visit www.joinlandgroup.com.my

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Infor Partners with China’s Industry Experts & Customer Dongfeng to Discuss New Opportunities for Smart Manufacturing in the New Normal

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SHIYAN, HUBEI – Media OutReach – 20 November 2020 – Infor, a global leader in business cloud software specialized by industry, today joined hands with one of its customers, the Equipment Company of Dongfeng Motor Corporation (hereinafter Dongfeng Equipment), to hold a media walk-in tour at Dongfeng Equipment’s manufacturing base to discuss smart manufacturing and opportunities in the new normal.

As part of the event, a small seminar series involving industry experts was held to introduce attendees to Infor’s solutions, their implementation and share with media how Infor’s digital transformation solutions can help enterprises overhaul their manufacturing business. The seminars covered topics ranging from digital transformation in the automotive and automotive equipment manufacturing fields, the implications of China’s 14th Five-Year Plan on digital transformation, best practices for intelligent manufacturing and more. After the seminar series, discussion groups were held to allow experts, media and enterprise leaders alike to learn together and discuss ideas about the future of digital transformation.

Dongfeng Equipment implemented two digital transformation solutions from Infor, namely Infor LN, and Infor EAM, helping it to standardize its business, processes and data management. Dongfeng Equipment was also able to establish a real-time production system, business and financial integration, full-spectrum quality control, and comprehensive traceability. During the pandemic, they were able to quickly transition to producing protective masks.

Dongfeng’s digital journey with Infor has also been recognized by the International Data Corporation (IDC), which awarded Dongfeng Equipment for their digital transformation successes —  “boosting quality and efficiency” with the help of Infor’s digital solutions back in September 2020.

“Before we set down the path to digital transformation with Infor, Dongfeng Equipment was struggling to manage all of the diverse tasks required by our operations,” said Fang Mingqiang, chief engineer of information systems planning at Equipment Company of Dongfeng Motor Co., Ltd. “Infor’s flexible yet powerful solutions allowed us to optimize and standardize our processes company-wide to better keep up with the rigorous and dynamic demands of modern automotive equipment manufacturing, greatly increasing performance, lowering costs and boosting customer satisfaction. With this media tour and seminar series, we hope to show the world the great strides we’ve made with Infor as our partner, while demonstrating the ways in which other equipment manufacturers empower digital transformation with the help of Infor’s solutions as we move into the future.”

During the talks, Infor spokespeople Becky Xie, Vice President of Sales for Greater China and Korea, Chong Lu, Director of Business Consulting for Greater China and Korea and other experts from a variety of industries helped introduce Infor’s solutions and explain how these solutions can help businesses during the new normal left in the wake of the Covid-19 pandemic.

“The pandemic has left us in the midst of a new normal, and many enterprises, whether they be in manufacturing or other fields are still trying to find ways to not only adjust, but leverage the opportunities within this crisis to succeed and flourish as they move forward,” said Dr. Pei Huang, President of Eworks. “Intelligent manufacturing solutions can help businesses better meet some of the supply chain, distribution, personnel and other challenges that arose during the initial outbreak and after Covid-19 had run its course. I am confident that Infor’s solutions can help other businesses find the same success Dongfeng Equipment has seen.”

“As organisations head into uncertain times in the new year, Infor is a strategic partner with a portfolio of industry-specific solutions that can help reconfigure operations and transform businesses to achieve success,” said Becky Xie, Vice President of Sales for Greater China and Korea. “We are confident that Dongfeng Equipment will benefit from its use of Infor LN and Infor EAM solutions, and are excited that it is also helping to bring together top industry experts, media and manufacturers alike to up-level industry knowledge on smart manufacturing, and discuss the possibilities that our solutions can help open up.”

Media contact

Phyllis Tan

Infor Asia Pacific

+65 9799 9133

[email protected]

About Infor

Infor is a global leader in business cloud software specialized by industry. Providing mission-critical enterprise applications to 67,000 customers in more than 175 countries, Infor software is designed to deliver more value and less risk, with more sustainable operational advantages. We empower our 17,000 employees to leverage their deep industry expertise and use data-driven insights to create, learn and adapt quickly to solve emerging business and industry challenges. Infor is committed to providing our customers with modern tools to transform their business and accelerate their own path to innovation. To learn more, please visit www.infor.com.

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