CANTON, OH / ACCESSWIRE / December 27, 2017 / The Granted Wish Foundation Chairman Rodney Napier really helped in assisting the reunion of a now 14-year-old Haitian child with the adoptive U.S. family. In an adoption case that lasted six years, Wisbens recently landed on U.S. Soil and became a permanent member of the Hazel Family.

The Granted Wish Foundation set out on its mission to coordinate the adoption for Wisbens after meeting him at New Life Children’s Home in Haiti. After the devastating earthquake of 2010, Rodney Napier traveled to the country to help children and families in need of financial and emotional support. Wisbens, then age 10, had been trapped under a wall resulting in the amputation of his right leg. While at New Life, Rodney Napier and his team worked tirelessly to assist the children who had been affected by the disaster. Around the same time, they met Todd Hazel, a man from Bowling Green, Kentucky who was doing missionary work in Haiti. After witnessing the unique bond that Todd and Wisbens shared with each other, Napier’s organization began the rigorous adoption process with Hazel. Finally, on January 20, 2016, Wisbens joined his new adoptive father Todd, his wife, Jennifer, and their young son, Maddox, to start their life together.

“It has been a long journey, but we are so happy and proud for everything that The Granted Wish Foundation has achieved,” says Rodney Napier. “It’s rewarding to see Wisbens and the Hazels bond so naturally with each other. Wisbens life will now become a fairytale.”

The Granted Wish Foundation, located in Canton, Ohio is a non-profit organization that provides wishes to enrich the lives of physically challenged children and young adults. By offering various programs and events, Rodney Napier through the Granted Wish has helped hundreds of children and young adults by assisting them through the very challenging times of their lives. Established by Napier in 2005, The Granted Wish Foundation is a Better Business Bureau-accredited charity that focuses on wish fulfillment, Rosalie’s House – an opportunity to provide local low-income families to live comfortably and their annual local Adopt A Family program providing household items, clothing, groceries, and toys to those families in need. More than 550 wishes have been granted to date.

Rodney Napier is Chairman of Arthur Middleton Capital Holdings, a diverse family of ventures. Created from a single product idea, the company now has annual sales of more than $50 million and has expanded to more than 100 employees. Napier is also the head of Universal Physicians LLC, Lincoln Treasury, and NOD Real Estate LLC/Napier Florida Development, LLC. Among the most prominent subsidiaries subsidiary, Heat Surge LLC is a leading distributor of electric fireplaces providing cost-effective and safe fireplaces nationwide. Businesses can learn more about getting involved with The Granted Wish Foundation by visiting GrantedWish.org or emailing scoletti@grantedwish.org.

Rodney Napier – Business Leader and Philanthropist: http://rodneynapiernews.com
Moe’s, Jersey Mike’s to fill out The Venue at Belden: http://www.cantonrep.com/news/20170315/moes-jersey-mikes-to-fill-out-venue-at-belden
Grand parade shines with floats, bands, legends: http://www.cantonrep.com/news/20170805/grand-parade-shines-with-floats-bands-legends

Contact Information

RodneyNapierNews.com
http://rodneynapiernews.com
contact@rodneynapiernews.com

SOURCE: Rodney Napier

ReleaseID: 484993

NEW YORK, NY / ACCESSWIRE / December 27, 2017 / Pomerantz LLP announces that a class action lawsuit has been filed against Acorda Therapeutics, Inc. (“Acorda” or the “Company”) (NASDAQ: ACOR) and certain of its officers. The class action, filed in United States District Court, for the Southern District of New York, and docketed under 17-cv-08997, is on behalf of a class consisting of investors who purchased or otherwise acquired Acorda securities, seeking to recover compensable damages caused by defendants’ violations of the Securities Exchange Act of 1934.

If you are a shareholder who purchased Acorda securities between April 18, 2016, and November 14, 2017, both dates inclusive, you have until January 17, 2018, 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 amount of shares purchased.

[Click here to join this class action]

Acorda is a biotechnology company with a focus on the identification, development, and commercialization of therapies for neurological disorders. On January 19, 2016, Acorda announced an agreement to acquire Biotie Therapies Corporation (“Biotie”) for approximately $363 million (the “Biotie Acquisition”). In its press release announcing the Biotie Acquisition, Acorda advised investors, inter alia, that the Company “will obtain worldwide rights to tozadenant, an oral adenosine A2a receptor antagonist currently in Phase 3 development in Parkinson’s disease (PD).” On April 18, 2016, Acorda acquired approximately 93% of the fully diluted capital stock of Biotie. In September 2016, Acorda completed the Biotie Acquisition.

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) tozadenant entailed significant undisclosed safety risks; (ii) accordingly, the Company had overstated tozadenant’s approval prospects and commercial viability; (iii) for the foregoing reasons, the Company had likewise overstated the benefits of the Biotie Acquisition; and (iv) as a result of the foregoing, Acorda’s shares traded at artificially inflated prices during the Class Period, and class members suffered significant losses and damages.

On November 15, 2017, Acorda disclosed the deaths of several patients in the Company’s final-stage studies of tozadenant. Acorda advised investors that it had paused new enrollment in the drug’s long-term safety studies, pending further discussion with the independent Data Safety Monitoring Board and the U.S. Food and Drug Administration.

On this news, Acorda’s share price fell $11.20, or 39.72%, to close at $17.00 on November 15, 2017.

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: 485007

NEW YORK, NY / ACCESSWIRE / December 27, 2017 / Pomerantz LLP announces that a class action lawsuit has been filed against Omega Healthcare Investors, Inc. (“Omega” or the “Company”) (NYSE: OHI) and certain of its officers. The class action, filed in United States District Court, for the Southern District of New York, and docketed under 17-cv-09024, is on behalf of a class consisting of investors who purchased or otherwise acquired Omega securities, seeking to recover compensable damages caused by defendants’ violations of the Securities Exchange Act of 1934.

If you are a shareholder who purchased Omega securities between February 8, 2017, and October 31, 2017, both dates inclusive, you have until January 16, 2018, 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 amount of shares purchased.

[Click here to join this class action]

Omega is a self-administered real estate investment trust (“REIT”) that invests in income producing healthcare facilities, including long-term care facilities located in the United States and the United Kingdom.

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) financial and operating results of certain of the Company’s operators were deteriorating; (ii) as a result, certain of the Company’s operators were experiencing worsening liquidity issues that were significantly impacting the operators’ ability to make timely rent payments; (iii) as a result, certain of the Company’s direct financing leases were impaired and certain receivables were uncollectible; and (iv) as a result of the foregoing, Defendants’ statements about Omega’s business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis.

On July 26, 2017, after the market closed, the Company issued a press release entitled “Omega Announces Second Quarter 2017 Financial Results; Increased Dividend Rate for 20th Consecutive Quarter.”

On the next day, July 27, 2017, the Company held a conference call to discuss its second quarter results. On this news, the Company’s stock price fell $1.35 per share, or 4%, to close at $32.10 per share on July 27, 2017, on unusually heavy trading volume.

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: 485006

NEW YORK, NY / ACCESSWIRE / December 27, 2017 / Pomerantz LLP announces that a class action lawsuit has been filed against Novan, Inc. (“Novan” or the “Company”) (NASDAQ: NOVN) and certain of its officers. The class action, filed in United States District Court, for the Middle District of North Carolina, and docketed under 17-cv-01066, is on behalf of a class consisting of investors who purchased or otherwise acquired Novan’s stock: (1) pursuant and/or traceable to Novan’s false and misleading Registration Statement and Prospectus, issued in connection with the Company’s initial public offering on or about September 26, 2016 (the “IPO” or the “Offering”); and/or (2) on the open market between September 26, 2016 and August 1, 2017, both dates inclusive (the “Class Period”), seeking to recover damages caused by Defendants’ violations of the Securities Act of 1933 (the “Securities Act”) and the Securities Exchange Act of 1934 (the “Exchange Act”).

If you are a shareholder who purchased Novan securities between September 26, 2016, and August 1, 2017, both dates inclusive, you have until January 2, 2018, 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 amount of shares purchased.

[Click here to join this class action]

Novan is a clinical-stage drug development company that focuses on the development and commercialization of nitric oxide-based therapies in dermatology.

Leading up to and during the Class Period, Defendants represented that Novan had commenced two identically designed Phase 3 clinical trials of SB204, a once-daily, topical gel for the treatment of acne vulgaris. SB204 was the Company’s lead product candidate, and information regarding its development and commercialization was important to investors.

The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business and outlook, specifically regarding SB204. Specifically, (i) Defendants repeatedly stated that Novan had commenced and performed two identically designed Phase 3 clinical trials of SB204; (ii) Defendants falsely stated that the two Phase 3 clinical trials were identical and omitted specific facts as to why the two critical trials were, in fact, not identical; and (iii) as a result for the foregoing, the Company’s outlook and expected financial performance were not accurately represented to the market at all relevant times.

During the Class Period, the price of Novan stock climbed significantly above the IPO price of $11.00 per share, reaching as high as $29.09 on December 7, 2016.

Before the market opened on January 27, 2017, Novan announced the top-line results of its two “identical” Phase 3 clinical trials of SB204. Although the drug reached all of its goals in one of the trials, dubbed NI-AC302, it failed to beat a placebo in the other separate Phase 3 study, called NI-AC301.

On news of these discordant results in what were described to be two identical studies, the price of Novan stock fell sharply. After closing at $18.70 on January 26, 2017, the stock opened at $4.50 per share on January 27, 2017, fell to a low of $3.52, and ultimately closed at $4.86, a decline of 74%, on abnormally high trading volume of more than eight million shares.

Subsequent disclosures regarding SB204 demonstrated that the two Phase 3 clinical trials of SB204 were not “identical.”

Following these disclosures, several executives left the Company. On March 22, 2017, Novan announced that its Chief Financial Officer (“CFO”), Defendant Richard Peterson, was leaving and would be replaced, “effective immediately,” by interim CFO William L. Hodges. On May 5, 2017, Novan disclosed that the Company’s Chief Medical Officer, M. Joyce Rico, had resigned. Then, on June 5, 2017, Novan announced that it was replacing its Chief Executive Officer (“CEO”) and co-founder, Defendant Nathan Stasko, with G. Kelly Martin, a member of the Company’s Board of Directors, who would become interim CEO. Novan also announced that it was laying off 20% of its workforce and that despite previously assuring investors that it was committed to SB204, Novan was executing a plan to turn its focus to earlier-stage compounds.

Following the Company’s June 5, 2017 disclosures, the price of Novan stock fell 5% to close at $4.64 that day. The stock extended its losses on June 6, 2017, falling 4% to close at $4.45.

Additional disclosures on August 2, 2017 informed the market that Novan would be retreating further from SB204, stating that Novan’s “[p]rimary clinical focus over the next 24 months” would be “antiviral clinical work in EGW and Molluscum” and that the “[a]cne indication and path forward [would] be largely driven by regulatory clarity.” On this news, the price of Novan stock declined from $5.48 on August 1, 2017, to $4.54 on August 2, 2017, a drop of more than 17%.

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: 485012

NEW YORK, NY / ACCESSWIRE / December 27, 2017 / Pomerantz LLP announces that a class action lawsuit has been filed against Array Biopharma Inc. (“Array” or the “Company”) (NASDAQ: ARRY) and certain of its officers. The class action, filed in United States District Court, for the District of Colorado, and docketed under 17-cv-02848, is on behalf of a class consisting of investors who purchased or otherwise acquired Array securities, seeking to recover compensable damages caused by defendants’ violations of the Securities Exchange Act of 1934.

If you are a shareholder who purchased Array securities between December 16, 2015 and March 17, 2017, both dates inclusive, you have until January 22, 2018, 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 quantity of shares purchased.

[Click here to join this class action]

Array is a biopharmaceutical company focused on the discovery, development, and commercialization of targeted small molecule drugs to treat patients afflicted with cancer. The Company’s lead cancer drug binimetinib (MEK162) was evaluated in multiple trials and combinations, including a Phase 3 “NEMO” study versus dacarbazine in unresectable or metastatic NRAS-mutant melanoma patients.

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) Array’s NEMO study failed to show sufficient clinical benefit of the binimetinib new drug application (“NDA”) in use for patients with NRAS-mutant melanoma; (ii) the Company was aware that this lack of supporting clinical data would not be sufficient to receive U.S. Food and Drug Administration (“FDA”) approval of binimetinib in use for patients with NRAS-mutant melanoma; and (iii) as a result of the foregoing, Array’s public statements were materially false and misleading at all relevant times.

On March 19, 2017, Array issued a press release announcing it had withdrawn from the FDA Division of Oncology Products 2 the NDA for binimetinib monotherapy for the treatment of NRASmutant melanoma, a rare, mutationally-driven subset of skin cancer.

On the following day, biotech analyst John Carroll from Endpoints News published an article entitled “Array walks back its FDA pitch on binimetinib, derailing plans for commercial launch.” The article described why the Company’s decision concerning the binimetinib NDA came “as a surprise to investors,” based on Array’s previous statements with respect to the drug’s approval prospects.

On this news, Array’s share price fell $1.43 or 13.54% over two trading days, to close at $9.13 on March 21, 2017.

On March 20, 2017, before the market opened, biotech analyst John Carroll from Endpoints News published an article entitled “Array walks back its FDA pitch on binimetinib, derailing plans for commercial launch.”

On this news, Array’s share price fell $1.43 or 13.54% over two trading days, to close at $9.13 on March 21, 2017.

On May 10, 2017, during a conference call to discuss the Company’s financial and operating results for the third fiscal quarter ended March 31, 2017 (“Q3 2017 Conference Call”), analyst Michael Schmidt from Leerink asked about the reasons of the withdrawal of the binimetinib NDA in use for patients with NRAS-mutant melanoma. Ultimately, while attempting to blur the truth, Array’s CEO and Individual Defendant Squarer admitted that: (i) Array lacked sufficient data to support approval of the binimetinib NDA in use for patients with NRAS-mutant melanoma, (ii) as a result, Array was aware it would not be able to launch binimetinib in use for patients with NRAS-mutant melanoma.

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: 485004

NEW YORK, NY / ACCESSWIRE / December 27, 2017 / Pomerantz LLP announces that a class action lawsuit has been filed against Triangle Capital Corporation (“Triangle Capital” or the “Company”) (NYSE: TCAP) and certain of its officers. The class action, filed in United States District Court, for the Southern District of New York, and docketed under 17-cv-09311, is on behalf of a class consisting of investors who purchased or otherwise acquired Triangle Capital’s securities between May 7, 2014 and November 1, 2017, both dates inclusive (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, against the Company and certain of its top officials.

If you are a shareholder who purchased Triangle Capital securities between May 7, 2014, and November 1, 2017, both dates inclusive, you have until January 22, 2018, 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 quantity of shares purchased.

[Click here to join this class action]

Triangle Capital Corporation operates as a private equity firm. The Company invests in manufacturing, distribution, transportation, energy, communications, health services, restaurants, and other business sectors.

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) as early as 2013, Triangle’s investment professionals had internally recommended moving away from mezzanine loan deals due to changes in the market that no longer made these investments attractive risk-reward opportunities; (ii) the Company’s former Chief Executive Officer, Garland S. Tucker, III, had ignored the advice of Triangle’s investment professionals to chase higher short-term yields by causing Triangle to invest in mezzanine debt despite the poor quality of the loans and their increased risk of defaults and nonaccruals; (iii) the Company’s entire vintage of 2014 and 2015 investments were at substantial risk of non-accrual as a result of the poor quality of the investments and deficient underwriting practices in place at the time of the investments; (iv) more than 13% of Triangle’s investment portfolio at cost was at risk of non-accrual and, thus, the fair value of the Company’s asset portfolio was artificially inflated; (v) Triangle had materially understated the number of loans performing below expectations and/or in non-accrual and had delayed writing down impaired investments; (vi) Triangle failed to implement effective underwriting policies and practices to ensure it received appropriate risk-adjusted returns on its investments; and (vii) as a result of the foregoing, Triangle Capital’s shares traded at artificially inflated prices during the Class Period, and class members suffered significant losses and damages.

On November 1, 2017, Triangle issued a press release announcing its financial results for the quarter ended September 30, 2017. The release revealed that the fair value of the Company’s investment portfolio had declined to $1.09 billion, a decline of nearly 7% from the prior quarter. In addition, the Company revealed that it had suffered $8.9 million in net realized losses and $65.8 million in net unrealized depreciation to its portfolio during the quarter. The Company also disclosed that it had only earned $0.36 per share in net investment income and that it was slashing its quarterly dividend to $0.30 per share, a decline of 33% from the prior quarter. Most shocking, Triangle revealed that it had placed seven new investments on non-accrual status during the quarter, effectively acknowledging that those assets were unlikely to generate future returns, and that the amount of investments on non-accrual had ballooned to 13.4% and 4.7% of the Company’s total portfolio at cost and at fair value, respectively.

On these disclosures, Triangle Capital’s share price fell $2.57, or 20.98%, to close at $9.68 on November 2, 2017.

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: 485003

NEW YORK, NY / ACCESSWIRE / December 27, 2017 / Pomerantz LLP announces that a class action lawsuit has been filed against RYB Education, Inc. (“RYB” or the “Company”) (NYSE: RYB) and certain of its officers. The class action, filed in United States District Court, for the Southern District of New York, and docketed under 17-cv-09261, is on behalf of a class consisting of all persons other than defendants who purchased or otherwise acquired RYB’s American Depositary Receipts (“ADRs”): (1) pursuant and/or traceable to RYB’s false and misleading Registration Statement and Prospectus, issued in connection with the Company’s initial public offering on or about September 27, 2017 (the “IPO” or the “Offering”); and/or (2) on the open market between September 27, 2017 and November 22, 2017, both dates inclusive (the “Class Period”), seeking to recover damages caused by defendants’ violations of the Securities Act of 1933 (the “Securities Act”) and the Securities Exchange Act of 1934 (the “Exchange Act”).

If you are a shareholder who purchased RYB securities between September 27, 2017, and November 22, 2017, both dates inclusive, you have until January 26, 2018, 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 amount of shares purchased.

[Click here to join this class action]

RYB Education, Inc. offers educational services. The Company operates kindergarten and pre-schools. RYB Education provides training in a variety of subjects and languages, teacher recruitment, guidance, innovative learning, development of children, rating systems, parents consulting, and other services.

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) RYB failed to establish safety policies to prevent sexual abuse from occurring at its schools; (ii) RYB’s failure to remedy problems within its system exposed children to harm and unreasonable risk of harm while in the Company’s care; and (iii) as a result of the foregoing, RYB securities traded at artificially inflated prices during the Class Period, and class members suffered significant losses and damages.

On November 24, 2017, various news outlets reported that police have opened an investigation into RYB after numerous parents accused a RYB nursery of drugging and molesting their children. Beijing’s education authority confirmed the police investigation in a statement. According to China’s leading newspaper Xinhua News Agency, RYB has suspended multiple teachers at RYB Education New World after kindergarten students were “reportedly sexually molested, pierced by needles, given unidentified pills,” and forced to undress and locked in a dark room. Parents reported that at least eight children have been abused at the school and that the children had given similar accounts with respect to their abuse.

On this news, RYB’s ADR price fell $10.28 per share, or over 38% from its previous closing price, to close at $16.45 per share on November 24, 2017.

On the following day, several news outlets reported that Chinese police had detained teachers in connection with its RYB’s child abuse inquiry. According to police reports, one of the teachers was arrested after needle wounds were found on at least eight children aged 2 to 6 years at the kindergarten. In a statement issued later that day, RYB announced it had fired the detained teachers, as well as the head of one of its kindergartens.

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: 485002

NEW YORK, NY / ACCESSWIRE / December 27, 2017 / Pomerantz LLP announces that a class action lawsuit has been filed against PayPal Holdings, Inc. (“PayPal” or the “Company”) (NASDAQ: PYPL) and certain of its officers. The class action, filed in United States District Court, for the Northern District of California, and docketed under 17-cv-06956, is on behalf of a class consisting of investors who purchased or otherwise acquired common shares of PayPal between February 14, 2017 and December 1, 2017, both dates inclusive (the “Class Period”). Plaintiff seeks to recover compensable 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 PayPal securities between February 14, 2017, and December 1, 2017, both dates inclusive, you have until February 5, 2018, 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 amount of shares purchased.

[Click here to join this class action]

PayPal operates as a technology platform company that provides online payment systems through a variety of services on behalf of consumers and merchants. On February 14, 2017, PayPal announced an agreement to purchase TIO Networks Corp. (“TIO”) for $233 million (the “TIO Acquisition”). TIO is a bill-pay management company that processed roughly $7 billion in bill payments on behalf of 14 million customers in 2016. On July 18, 2017, PayPal announced the completion of the TIO Acquisition.

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) TIO’s data security program was inadequate to safeguard the personally identifiable information of its users; (ii) the foregoing vulnerabilities threatened continued operation of TIO’s platform; (iii) PayPal’s revenues derived from its TIO services were thus unsustainable; (iv) consequently, PayPal had overstated the benefits of the TIO Acquisition; and (v) as a result, PayPal’s public statements were materially false and misleading at all relevant times.

On November 10, 2017, PayPal suspended its TIO services, pending a security review, stating that it had discovered security vulnerabilities on the TIO platform and that the TIO data security program did not meet PayPal’s standards.

On December 1, 2017, post-market, PayPal disclosed that personally identifiable information – including names, addresses, bank-account details, and Social Security numbers – for roughly 1.6 million TIO users had potentially been compromised as a result of the previously announced security vulnerabilities.

On this news, PayPal’s share price fell $4.33, or 5.75%, to close at $70.97 on December 4, 2017, the following trading day.

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: 485001