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The Law Offices of Frank R. Cruz Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Golar LNG Limited (GLNG)

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The Law Offices of Frank R. Cruz reminds investors of the upcoming November 24, 2020 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased Golar LNG Limited (Golar or the Company) (NASDAQ: GLNG) securities between April 30, 2020 and September 24, 2020, inclusive (the Class Period).

If you are a shareholder who suffered a loss, click here to participate.

On September 24, 2020, media reported that the Chief Executive Officer (CEO) of Golars joint venture, Hygo Energy Transition Ltd. (Hygo), was involved in a bribery network investigated in Brazils Operation Car Wash.

On this news, Golars share price fell $3.28, or 32%, to close at $6.86 per share on September 24, 2020, thereby damaging investors.

The complaint filed 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 Companys business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that certain employees, including Hygos Chief Executive Officer, had bribed third parties, thereby violating anti-bribery policies; (2) as a result, the Company was likely to face regulatory scrutiny and possible penalties; (3) as a result of the foregoing reputational harm, Hygos valuation ahead of its IPO would be significantly impaired; and (4) that, as a result of the foregoing, Defendants positive statements about the Companys business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Follow us for updates on Twitter: twitter.com/FRC_LAW.

If you purchased or otherwise acquired Golar securities during the Class Period, you may move the Court no later than November 24, 2020 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to [email protected], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

The Law Offices of Frank R. Cruz, Los Angeles

Frank R. Cruz, 310-914-5007

[email protected]

www.frankcruzlaw.com

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TRAC Intermodal Releases Case Study on Port of NY/NJ Chassis Pool Model Success During Record Port Growth

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PRINCETON, N.J., Dec. 4, 2020 /PRNewswire/ — As local economies reopen and imports surge at many U.S. ports, ensuring the timely flow of cargo through these ports takes on added urgency. TRAC Intermodal has developed a detailed case study on how the chassis pool model at the Port of NY/NJ has supported significant increases in container cargo volumes over the past few years. TRAC's Metro Pool is the largest chassis pool in the region, with 17,000 chassis supporting this market.

One of the nation's busiest ports, the Port of NY/NJ recently reported its best month ever for import volume. The Port has invested heavily in infrastructure improvements such as raising the Bayonne Bridge, deepening harbors and upgrading roadways to and from terminals, all to help accommodate larger TEU ships and the cargo volumes they bring. As a direct result of these efforts, between 2017 and 2019, container cargo volumes at the Port of NY-NJ increased 11.3%. Despite this volume increase, compounded by sudden spikes in demand during the 2019 U.S.-China trade war and a record container volume rebound in the summer and fall of 2020, the chassis system was able to maintain a smooth cargo flow, with little to no disruptions.

“The TRAC case study identifies ways in which the Port's chassis provisioning model along with our quality fleet care programs have enabled port growth and offer motor carriers ready access to safe, high-quality equipment, operational efficiencies and equipment choices to meet their needs,” says Daniel Walsh, CEO at TRAC Intermodal.

A copy of the case study, “Port of NY/NJ Chassis Pool Model Success in the Face of Record Cargo Growth,” is available for download here or by visiting https://www.tracintermodal.com/case-study-port-nynj.

About TRAC Intermodal
TRAC Intermodal (www.tracintermodal.com) is North America's leading marine chassis pool manager and equipment provider, with 11 pools under management across the U.S. TRAC has the largest fleet of marine and specialty chassis in North America and operates an extensive network of facilities. TRAC's subsidiaries offer emergency fleet roadside assistance through FYX, and maintenance and repair services and other depot solutions through TRAC Services.

For more information, contact:                        

Rick Leonard
RCL Communications
203.434.7734
[email protected]

 

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SOURCE TRAC Intermodal

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KanKan AI Announces the Release of its Smart Customer Retail Platform for the Banking Industry

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LAS VEGAS, Dec. 4, 2020 /PRNewswire/ — Remark Holdings, Inc. (NASDAQ: MARK), a diversified global technology company with leading artificial intelligence (“AI”) solutions and digital media properties, today announced that several large banks in China, including the Bank of China, have installed the Smart Customer Retail Platform created by Remark's KanKan AI business to act as a centralized, interactive hub for the marketing and sale of the banks' products and services. For the Bank of China, the installation of the Smart Customer Retail Platform represents the first in a series of systematic upgrades planned by the bank. The initial installations are expected to generate approximately $1.5 million in revenue during Remark's fourth quarter.

Smart Customer Banking Platform

“The banking industry has gradually transformed from the traditional method of bank employees providing services at the counter to highly personalized AI-driven interactive services. Bank of China's implementation of Remark AI's system reflects the initial capture of the Chinese banking industry's estimated $2 billion annual budget upgrade opportunity as 20,000 branches of major banks are scheduled to be upgraded each year,” noted Kai-Shing Tao, Chairman and Chief Executive Officer of Remark Holdings. “The Smart Customer Retail Platform, which integrates Kankan AI platform, can be customized to meet each branch's marketing goals by personalizing services for each customer.”

Several large banks in China, including the Bank of China have installed the Smart Customer Retail Platform.

KanKan AI's computer vision technology identifies customers, allowing the banks to know whom they are interacting with and also providing targeted and personalized marketing information. Customers can use the platform to complete transactions such as the purchase of investment products and the completion of credit card applications. In addition, Kankan AI provides valuable feedback to bank managers by analyzing customers' interactions on a real-time basis.

Given the initial success, KanKan AI is targeting sales to an additional 500 branches of the banks that participated in the recent pilot rollouts of the Smart Customer Retail Platform.

Additional information regarding KanKan AI and its other innovative solutions can be found on its website (www.remarkdip.com).

Remark Holdings, Inc. (PRNewsFoto/Remark Media, Inc.)

About Bank of China

Bank of China is one of the four biggest state-owned commercial banks in China. It was founded in 1912 by the Republican government to replace the Daqing Bank. It is the second oldest bank in mainland China still in existence (after the Bank of Communications, founded in 1908). From its establishment until 1942, it issued banknotes on behalf of the Government along with the “Big Four” banks of the period: the Farmers Bank of ChinaBank of Communications and Central Bank of the Republic of China. Its headquarters are in Xicheng DistrictBeijing. By the year end of 2019, the Bank of China had a total of 228,000 branches worldwide. As of August 2020, it was the fourth-largest bank in the world in terms of assets, ranked after the other three Chinese banks. Additional information regarding Bank of China can be found on its website (www.boc.cn/en).

About Remark Holdings, Inc.

Remark Holdings, Inc. (NASDAQ: MARK) delivers an integrated suite of AI solutions that enable businesses and organizations to solve problems, reduce risk and deliver positive outcomes. The company's easy-to-install AI products are being rolled out in a wide range of applications within the retail, financial, public safety and workplace arenas. The company also owns and operates an e-commerce digital media property focused on a luxury beach lifestyle. The company is headquartered in Las Vegas, Nevada, with additional operations in Los Angeles, California and in Beijing, Shanghai, Chengdu and Hangzhou, China. For more information, please visit the company's website (www.remarkholdings.com).

Forward-Looking Statements

This press release may contain forward-looking statements, including information relating to future events, future financial performance, strategies, expectations, competitive environment and regulation. Words such as “may,” “should,” “could,” “would,” “predicts,” “potential,” “continue,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” and similar expressions, as well as statements in future tense, identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, including those discussed in Part I, Item 1A. Risk Factors in Remark Holdings' Annual Report on Form 10-K and Remark Holdings' other filings with the SEC. Any forward-looking statements reflect Remark Holdings' current views with respect to future events, are based on assumptions and are subject to risks and uncertainties. Given such uncertainties, you should not place undue reliance on any forward-looking statements, which represent Remark Holdings' estimates and assumptions only as of the date hereof. Except as required by law, Remark Holdings undertakes no obligation to update or revise publicly any forward-looking statements after the date hereof, whether as a result of new information, future events or otherwise.

Company Contacts

E. Brian Harvey
Senior Vice President of Capital Markets and Investor Relations
Remark Holdings, Inc.
[email protected]
702-701-9514

Fay Tian
Vice President of Investor Relations
[email protected]
(+1) 626-623-2000
(+86) 13702108000

 

 

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SOURCE Remark Holdings, Inc.

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Bit Digital, Inc. completed the acquisition of $13,902,742 worth of bitcoin miners with total hash rate of 1,003.5 Ph/s

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NEW YORK, Dec. 4, 2020 /PRNewswire/ — Bit Digital, Inc. (Nasdaq: BTBT), a Nasdaq listed Bitcoin mining company headquartered in New York announced that on December 3, 2020, it had completed the acquisition of $13,902,742 worth of bitcoin miners with total hash rate of 1,003.5 Ph/s with certain non-U.S. investors in exchange for an aggregate of 4,344,603 ordinary shares at the price of $3.20 per share, when the purchases were negotiated.

Company Logo (PRNewsfoto/Bit Digital, Inc.)

The closing of the acquisition represents the total hash rate of the Company increase by approximately 1,003.5 Ph/s from 1,250 Ph/s to 2,253.5 Ph/s. The total 17,996 miners acquired include 7,025 Antminer S17+, 9,110 Antminer T17, 195 Antminer S17E, 32 Antminer S17Pro, 105 Antminer S19Pro, 1,429 Whatsminer M20S, 100 Whatsminer M31S. The average energy efficiency of these miners is 47.45 (+/-5%) joules per terahash (J/TH). With these miners being deployed, the total energy efficiency will be decreased from 61.88 (+/-5%) J/TH to 55.33 (+/-5%) by 10.59%. These miners are distributed in Xinjiang, Sichuan and Inner Mongolia Provinces PRC and are expected to be fully installed before the end of December 2020.

“We are very pleased to announce the completion of the transaction and to issue our shares in exchange for bitcoin miners,” Erke Huang, the Chief Financial Officer of the Company said. “Also, with these miners installed, the utility cost will be further decreased and increase our profit margin.”

Safe Harbor Statement

This press release may contain certain “forward-looking statements” relating to the business of Bit Digital, Inc., and its subsidiary companies. All statements, other than statements of historical fact included herein are “forward-looking statements.” These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements. 

 

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SOURCE Bit Digital, Inc.

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