NEW YORK, NY / ACCESSWIRE / July 22, 2016 / Pomerantz LLP announces that a class action lawsuit has been filed against Inovalon Holdings, Inc. (“Inovalon” or the “Company”) (NASDAQ: INOV) and certain of its officers. The class action, filed in United States District Court, Southern District of New York, and docketed under 16-cv-05065, is on behalf of a class consisting of all persons or entities who purchased Inovalon Class A common stock pursuant or traceable to the Registration Statement and Prospectus (collectively, the “Registration Statement”) issued in connection with Inovalon’s February 12, 2015 initial public stock offering (the “IPO” or “Offering”). The action asserts strict liability claims under §§11 and 15 of the Securities Act of 1933.

If you are a shareholder who purchased Inovalon securities during the Class Period, you have until August 23, 2016 to seek appointment 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.

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Inovalon provides cloud-based data analytics platforms for health insurance plans, pharmaceutical companies, researchers and others in the healthcare industry.

The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about Inovalon business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Registration Statement for the Company’s IPO was negligently prepared and, as a result, contained untrue statements of material fact and omitted to state material facts both required by governing regulations and necessary to make the statements made not inaccurate statements of material fact; and (ii) the Individual Defendants approved the said Registration Statement.

On February 10, 2015, Inovalon filed its final amendment to the Registration Statement, which registered 25,555,555 shares of Inovalon common stock for public sale. The Securities and Exchange Commission declared the Registration Statement effective on February 11, 2015. On or about February 12, 2015, the Company priced the IPO at $27 per share and filed the final Prospectus for the IPO, which forms part of the Registration Statement. On February 18, 2015, the Company completed the IPO, which, upon the underwriters’ exercise of their option to purchase additional shares, issued and sold a total of 25,364,803 shares, generating over $684 million in gross proceeds. However, since the IPO, Inovalon’s stock has imploded, falling from its first day trading high of $33.75 to close at $17.39 on February 2, 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.com.

SOURCE: Pomerantz LLP

ReleaseID: 442748

NEW YORK, NY / ACCESSWIRE / July 22, 2016 / Pomerantz LLP announces that a class action lawsuit has been filed against Halyard Health, Inc. (“Halyard”or the “Company”) (NYSE: HYH), Kimberly-Clark Corporation (“Kimberly-Clark”) (NYSE: KMB) and certain of the companies’ officers. The class action, filed in United States District Court, Southern District of New York, and docketed under 16-cv-05093, is on behalf of a class consisting of all persons other than Defendants who: (1) purchased or otherwise acquired Kimberly-Clark securities on or after February 25, 2013 and subsequently received Halyard securities pursuant to Kimberly-Clark’s spin-off of Halyard, effective as of October 31, 2014; and/or (2) purchased or otherwise acquired Halyard securities between October 21, 2014 and April 29, 2016, both dates inclusive (collectively, the “Class Period”), seeking to recover damages caused by Defendants’ violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder.

If you are a shareholder who purchased or otherwise acquired Halyard securities during the Class Period, you have until August 29, 2016 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.

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Halyard provides health and healthcare supplies and solutions worldwide. The Company operates through two segments, Surgical and Infection Prevention (S&IP), and Medical Devices. Halyard markets its products directly to hospitals and other healthcare providers, as well as through third-party distribution channels.

Prior to October 2014, Halyard was the Health Care operating segment of Kimberly-Clark, a manufacturer of personal care, consumer tissue, and professional products. Kimberly-Clark’s common stock trades on the New York Stock Exchange under the ticker symbol “KMB”. On October 7, 2014, Kimberly-Clark announced the details for the completion of the spin-off of its Health Care segment as Halyard Health, Inc., advising its shareholders that they would receive one share of Halyard Health common stock for every eight shares of Kimberly-Clark common stock held as of the close of trading on October 23, 2014, the record date for the spin-off.

In late 2013, an outbreak of the Ebola virus began in Guinea, subsequently spreading to Liberia, Sierra Leone, and other West African nations. In August 2014, after meeting with health ministers from eleven countries, the World Health Organization designated the outbreak as a Public Health Emergency of International Concern, a rarely-used designation that invokes legal measures on disease prevention, surveillance, control, and response by 194 signatory countries. On September 30, 2014, the United States Centers for Disease Control and Prevention declared the first case of Ebola virus in the United States.

As awareness of the Ebola epidemic grew, demand surged for the personal protective equipment – i.e., eye shields, face masks and disposable gowns – made by Kimberly-Clark’s Health Care segment and subsequently by Halyard, including the Company’s MICROCOOL surgical gowns.

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’s MICROCOOL surgical gowns consistently failed effectiveness tests and failed to meet industry standards; (ii) Kimberly-Clark and Halyard had knowingly provided defective MICROCOOL surgical gowns to U.S. workers during the Ebola crisis; and (iii) as a result of the foregoing, Defendants’ public statements were materially false and misleading at all relevant times.

On May 1, 2016, 60 Minutes reported that Kimberly-Clark and Halyard had knowingly provided defective surgical gowns to U.S. workers at the height of the Ebola crisis. A Company insider claimed that Halyard’s MICROCOOL surgical gowns were prone to leaks and did not consistently meet the industry safety standards for the treatment of Ebola, but that Kimberly-Clark and Halyard had nonetheless, “aggressively” marketed the MICROCOOL gowns to hospitals during the epidemic.

On this news, Halyard stock fell $1.21, or 4.3%, to close at $26.95 on May 2, 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.com.

SOURCE: Pomerantz LLP

ReleaseID: 442746

WEST PALM BEACH, FL / ACCESSWIRE / July 22, 2016 / Solitron Devices, Inc. (OTCQB: SODI) (the “Company”) today announced:

Shevach Saraf, Chairman and CEO of the Company has retired as of Friday, July 22, 2016. The Board would like to thank Mr. Saraf for his many years of service. He joined the Company at a particularly difficult time for Solitron and guided the Company successfully while many competitors failed. The Company will be holding a retirement luncheon in Mr. Saraf’s honor at the Company’s offices in early August.

Pursuant to Mr. Saraf’s retirement, the Company reached an agreement with Mr. Saraf, subject to a seven day revocation period by Mr. Saraf ending July 29th, whereby the Company will fulfill the terms of his employment agreement, repurchase all shares held by Mr. Saraf, and repurchase all outstanding options held by Mr. Saraf. The total sum of the payment to Mr. Saraf is approximately $2.85 million including accrued unused vacation and COBRA benefits. Mr. Saraf has also resigned from the Board effective as of July 22, 2016, subject to the revocation period described above. As a result of this transaction the total number of fully diluted shares outstanding will decline from 2,523,050 to 1,901,950, a reduction of 621,100, or 24.6%.

The Board has also approved an amendment to Solitron’s bylaws in order to separate the CEO and Chairman roles, and appointed Tim Eriksen as CEO of the Company. Mr. Eriksen has served as a Director of the Company since the election of August 4th, 2015. Mr. Eriksen’s responsibilities will primarily consist of shareholder relations, capital allocation, governance issues, and assistance in financial reporting. The Board believes Mr. Eriksen is well qualified to fill this position.

David Pointer has been appointed Chairman of the Board of the Company. Mr. Pointer has served as a Director of the Company since the election of August 4th, 2015. The Board appreciates Mr. Pointer’s willingness to step in and fill this role.

Mark Matson has been named President and Chief Operating Officer of the Company (COO). In recent months Mr. Matson has served the Company in a consultant role and is very familiar with Solitron Devices, Inc.’s products and markets. Mr. Matson’s previous experience includes COO and VP of Operations at YSI, Vice President of Operations and Engineering at Rockford Corporation, General Manager of Seattle Division for Benchmark Electronics, and Vice President at ADIC (Advanced Digital Information Corporation) and at Interpoint. The Board is pleased to have someone of Mr. Matson’s experience in the semiconductor component marketplace to be able to step in and run the operations of the Company.

Several months ago a shareholder of Solitron informed Solitron of the shareholder’s intention to run a proxy contest in the 2016 election. The Board entered into discussions with this shareholder and was pleased to learn that their concerns about the Company closely mirrored those expressed by shareholders in the 2015 election. As a result of those discussions, the Board has appointed Charles Gillman as a Class III director effective July 22, 2016 to fill the vacancy caused by Mr. Saraf’s retirement. Mr. Gillman will hold office until the Company’s 2016 Annual Meeting of Stockholders and will be the Company’s nominee in the upcoming election at the 2016 Annual Meeting of Stockholders. Mr. Gillman has served on numerous corporate boards and has an excellent reputation for strong corporate governance in favor of all shareholders.

Solitron has agreed to reimburse expenses related to the 2015 proxy contest and the potential 2016 proxy contest. In total, the expenses to be reimbursed will not exceed $200,000.

The Company has set the date of its 2016 annual meeting of shareholders for August 26, 2016. The meeting will be held in West Palm Beach, Florida.

Important Additional Information About the 2016 Annual Meeting of Stockholders

This press release may be deemed to be solicitation material in respect of the 2016 Annual Meeting of Stockholders, including the upcoming election of directors. The meeting proposals, including the election of directors, will be submitted to the stockholders of Solitron for their consideration. In connection with the 2016 Annual Meeting of Stockholders, Solitron will file with the Securities and Exchange Commission (the “SEC”) a proxy statement. Stockholders of Solitron are urged to read the proxy statement when it becomes available and any other relevant documents filed with the SEC, as well as any amendments or supplements to those documents, because they will contain important information. Stockholders of Solitron will be able to obtain a free copy of the proxy statement, as well as other filings containing information about Solitron at the SEC’s Internet site (http://www.sec.gov). Copies of the proxy statement and any SEC filings that will be incorporated by reference in the proxy statement can be obtained, free of charge, by directing a request to: Tim Eriksen, Chief Executive Officer, E-mail: corporate@solitrondevices.com.

Solitron and its directors, executive officers and other persons may be deemed to be participants in the solicitation of proxies in respect of the 2016 Annual Meeting of Stockholders. Information regarding Solitron’s directors and executive officers is available in its Annual Report on Form 10-K/A for the year ended February 29, 2016, which was filed with the SEC on June 28, 2016. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement and other relevant materials to be filed with the SEC when they become available. You may obtain free copies of these documents as described in the preceding paragraph.

About Solitron Devices, Inc.

Solitron Devices, Inc., a Delaware corporation, designs, develops, manufactures and markets solid-state semiconductor components and related devices primarily for the military and aerospace markets. The Company manufactures a large variety of bipolar and metal oxide semiconductor (“MOS”) power transistors, power and control hybrids, junction and power MOS field effect transistors (“Power MOSFETS”), field effect transistors and other related products. Most of the Company’s products are custom made pursuant to contracts with customers whose end products are sold to the United States government. Other products, such as Joint Army/Navy transistors, diodes and Standard Military Drawings voltage regulators, are sold as standard or catalog items. The Company was incorporated under the laws of the State of New York in March 1959, and reincorporated under the laws of the State of Delaware in August 1987.

Forward-Looking Statements

This press release contains forward-looking statements regarding future events and the future performance of Solitron Devices, Inc. that involve risks and uncertainties that could materially affect actual results, including statements regarding interim appointments to our Board of Directors and our executive officers. Factors that could cause actual results to vary from current expectations and forward-looking statements contained in this press release include, but are not limited to: (1) our ability to implement a smooth succession plan at the Board and executive officer level on both an interim and long-term basis, (2) our ability to develop and recruit effective Board members and executive officers, (3) changes in our stock price, corporate or other market conditions; (4) the loss of, or reduction of business from, substantial clients; (5) our dependence on government contracts, which are subject to termination, price renegotiations and regulatory compliance; (6) changes in government policy or economic conditions; (7) increased competition; (8) the uncertainty of current economic conditions, domestically and globally; and (9) other factors contained in the Company’s Securities and Exchange Commission filings, including its Form 10-K, 10-Q and 8-K reports.

CONTACT:

Tim Eriksen
Chief Executive Officer
E-mail: corporate@solitrondevices.com

SOURCE: Solitron Devices, Inc.

ReleaseID: 442743

NEW YORK, NY / ACCESSWIRE / July 22, 2016 / Pomerantz LLP announces that a class action lawsuit has been filed against Lipocine Inc. (“Lipocine” or the”Company”) (NASDAQ: LPCN), and certain of the company’s officers. The class action, filed in United States District Court, District of New Jersey, is on behalf of a class consisting of all persons other than Defendants who purchased or acquired Lipocine securities between June 30, 2015 and June 28, 2016, both dates inclusive (collectively, the “Class Period”), seeking to recover damages caused by Defendants’violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder.

If you are a shareholder who purchased or otherwise acquired Lipocine securities during the Class Period, you have until August 30, 2016 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]

Lipocine is a specialty pharmaceutical company, which develops pharmaceutical products using its oral drug delivery technology in the areas of men’s and women’s health.

The Complaint alleges that throughout the Class Period, defendants made materially false and/or 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: (1) Lipocine’s filing of its New Drug Application to the U.S. Food and Drug Administration for LPCN 1021, Lipocine’s lead product candidate, contained deficiencies; and (2) as a result, defendants’ statements about Lipocine’s business and operations were false and misleading and/or lacked a reasonable basis.

On June 29, 2016, the Company issued a press release disclosing its receipt of a Complete Response Letter for LPCN 1021 from the FDA, identifying deficiencies relating to the product’s dosing algorithm and advising Lipocine that its LPCN 1021 application could not be approved in its current form.

On this news, shares of Lipocine fell $3.17 per share or over 50% to close at $3.10 per share on June 29, 2016, damaging investors.

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.

SOURCE: Pomerantz LLP

ReleaseID: 442745

CALGARY, AB / ACCESSWIRE / July 22, 2016 / Teras Resources Inc. (TSXV: TRA.V) (“Teras” or the “Company“): Regrets to announce the recent passing of Mr. Dale Vitone. Dale was with the company since the fall of 2006 and has played an integral role as a Director and Consulting Mining Engineer during his time. His dedication and contributions will be greatly missed. Peter Leger, President and CEO, as well as the Board, extend its deepest condolences to Mr. Vitone’s family.

About Teras

Teras is focused on developing its Cahuilla project located in Imperial County, California. The project encompasses an area of at least 3 km by 1.5 km and Teras believes that the Cahuilla project has the potential to develop into a mining operation consisting of altered and mineralized sedimentary and volcanic host rocks with numerous sheeted high-grade quartz veins. Teras filed a NI 43-101 compliant technical report with an indicated resource of 1.0 million ounces of gold and 11.9 million ounces of silver on its Cahuilla project (70 million tons at an average grade of 0.015 ounces per ton gold and 0.17 ounces per ton silver with a cut-off of 0.008 ounces per ton gold) and inferred class of 10 million tons grading 0.011 opt gold and 0.10 opt silver. Gold equivalent ounces are 1.2 million ounces in indicated class and 130,000 ounces in inferred class using a ratio of 55 silver ounces to 1 gold ounce.

For further project and corporate information, contact:

Teras Resources Inc.
Peter Leger, President
(403) 262-8411
(403) 852-0644
Email: pleger@teras.ca
Website: www.teras.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.

SOURCE: Teras Resources Inc.

ReleaseID: 442747

CHARLOTTE, NC / ACCESSWIRE / July 22, 2016 / Smart Server, Inc. (OTCQB:SVTZ)(OTCQB:SUYT) today announced the change of its OTCQB trading symbol from SVTZ to SUYT. The change will be effective at the opening of trading on Monday, July 25, 2016, at which time all information, including stock trading and market data related to Smart Server, Inc., will be reported under the new ticker symbol, “SUYT.” The CUSIP for the Company’s common stock will remain unchanged.

SOURCE: Smart Server, Inc.

ReleaseID: 442740

TORONTO, ON / ACCESSWIRE / July 22, 2016 / Highvista Gold Inc. (TSXV: HVV) (“Highvista” or the “Company”). Further to the previously announced, Change of Business and Sale of Mining Assets detailed in the Press Release of June 28, 2016 available at www.sedar.com, the Company announces that it has entered into an unsecured loan facility in an amount of up to $150,000 in order to fund a portion of the Company’s working capital requirements during the Reverse Takeover. Readers will recall that in the June 28, 2016 Press Release the Company announced that it had entered into a conditional share purchase and sale agreement to sell 100% of a Mexican subsidiary that controls the 24,055 hectare Canasta Dorada Gold Project and requires the payment of certain taxes and payables to complete the transaction (the “Mexican Sale”) and its intention to complete, as one of the conditions of the Mexican Sale, a reverse takeover and change of business transaction (the “Reverse Takeover”) to transition its existing mining business to an investment company to include the areas of equipment financing in the construction and infrastructure areas and real estate-oriented investments.

The Corporation has requested that the trading of its shares on the TSX Venture Exchange continue to be halted until the completion of the Reverse Takeover which is subject to the approval of the Shareholders of the Corporation as well as the approval of the regulatory authorities.

About Highvista

Highvista owns 100% of a Mexican subsidiary that controls the 24,055 hectare Canasta Dorada Gold Project. This project is located in the Sonoran Gold Belt immediately adjacent to AuRico Gold’s El Chanate Mine. Details of Highvista’s Canasta Dorada Project can be viewed at the Company’s website at www.highvistagold.com.

Reader Advisory

This news release may contain forward-looking statements based on assumptions, uncertainties and management’s best estimate of future events. Actual events or results could differ materially from the Company’s expectations and projections. Investors are cautioned that forward-looking statements involve risks and uncertainties. Accordingly, readers should not place undue reliance on forward-looking statements. When used herein, words such as “anticipate”, “will”, “intend” and similar expressions are intended to identify forward-looking statements. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Highvista Gold Inc.’s filings with Canadian securities regulators available on www.sedar.com or the Company’s website at www.highvistagold.com.

For further information, please contact:

Highvista Gold Inc.
Paul Crath
Tel: (416) 504-4128
Fax: (416) 504-4129

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE.

SOURCE: Highvista Gold Inc.

ReleaseID: 442741