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Canadian Money News

Canadian Money News – MONEY.CA 

CANADIAN_MONEY Join us at Canadian Money to get up to the minute information from the top media companies in Canada. Canadian Money includes CanadianMoney.mobi 24-7pressrelease.com – fscwire.com and accesswire.com joining soon will be The Canadian Press and others focused on the Canadian Business and Finance realm. Any and all news is gathered on the main www. MONEY.CA news site. MONEY Canada Limited includes Money Magazine – Money Newsletter and Money Media – Learn more…

California Mortgage Advisors, Inc. is Now Providing Customers with a Reverse Mortgage up to $6 Million

By California Mortgage Advisors, Inc.

The $6 Million Amount is Significantly Higher than Most Other Companies Can Offer

SAN RAFAEL, CA / ACCESSWIRE / July 11, 2016 / The founders of California Mortgage Advisors, Inc., a full service mortgage banker, are pleased to announce that they are now able to provide their clients with a reverse mortgage option of up to $6 million.

As Executive Vice President Scott Baer noted, this high amount definitely helps California Mortgage Advisors, Inc. stand apart from the competition; most companies can only offer reverse mortgages up to $417,000 or $625,000 depending on the community and other variables.

“Our offering a reverse mortgage up to $6,000,000 for our California clients is unique to maybe two or three other companies in the United States,” Baer noted.

For seniors who are having difficulty making ends meet each month, a reverse mortgage can really help ease their financial stresses. They are named the Home Equity Conversion Mortgage (HECM) by the FHA, which also insures them.

As Baer explained, with a reverse mortgage, homeowners can turn the built-up equity in their house into much-needed money.

“An HECM harvests or converts a substantial portion of value built up over the years into ready cash,” he said, adding that the borrower will receive a large check when escrow closes.

“When a HECM is used for a refinance, the home owner receives a substantial cash payout, or arranges a plan to receive cash payments at a later date, and continues to live in the home, retaining the title.”

Other benefits of a reverse mortgage, noted Baer, is that refinancing is possible when interest rates go lower, and there are no restrictions on how people use the money.

The fact that California Mortgage Advisors, Inc. would expand their reverse mortgage services to include such a generous amount will not surprise the many customers who have worked with them over the years. Since the company first opened in 1993, they have developed a well-deserved reputation for helping clients get the best reverse mortgage for their financial needs.

Anybody who would like to learn more about California Mortgage Advisors, Inc. is welcome to visit the company’s user-friendly website; there, they can read more about their reverse mortgage services.

About California Mortgage Advisors, Inc.:

California Mortgage Advisors, Inc. is a full service mortgage banker servicing California since 1993. They have built a strong reputation by providing professional and honest client consultation, highly competitive loan programs and superior customer service to their clients and real estate professionals. For more information, please visit http://www.calmtg.com/

Contact:

Scott Baer

sbaer@calmtg.com

(415) 451-4110

SOURCE: California Mortgage Advisors, Inc.

ReleaseID: 442166

GB Minerals Ltd. Announces Settlement of Lawsuit from GBM Minerals Engineering Consultants Limited Against GB Minerals Ltd.’s Subsidiary

Vancouver, British Columbia–(Newsfile Corp. – July 8, 2016) – GB Minerals Ltd. (TSXV: GBL) (the “Company“) is pleased to announce the settlement of the lawsuit originally disclosed on January 7, 2014, against the Company’s wholly owned subsidiary, GB Minerals Holdings Ltd. (“GB Holdings“), filed in the Queen’s Bench Division of the High Court of Justice in London (the “Lawsuit“), relating to consultancy services provided to GB Holdings by GBM Minerals Engineering Consultants Limited (“GBMMEC“). The Company, GB Holdings and GBMMEC have entered into a settlement agreement (the “Settlement Agreement“) providing, inter alia, for the settlement of the Lawsuit and any other current and contemplated litigation between the parties (the “Settled Claims“) in consideration for a settlement payment by the Company to GBMMEC in the amount of £4,100,000.

The parties to the Settlement Agreement further agreed that, with immediate effect, none of the Company and its associated companies and parties shall have any obligation to GBMMEC or any of its associated companies and parties to make any payment (including any payment for interest) arising out of, in connection with, in relation to, or on account of the services agreement between GB Holdings and GBMMEC dated January 18, 2010, the invoices, fees, costs, charges, disbursements or expenses of GBMMEC and its associated companies and parties, and the Settlement Deed, the Amending Deed and the Debt Settlement Agreement dated January 30, 2013, July 26, 2013 and July 26, 2013, respectively, between the Company, GB Holdings and GBMMEC.

Luis da Silva, President and Chief Executive Officer of the Company, comments:

This settlement is the culmination of many months of increased activity and cost to both parties. The total settlement equates to circa C$6.9 million dollars, versus the considerably larger liability of circa C$13 million expunged from the balance sheet of the Company. For the existing supportive shareholders, this draws a line on a considerable legacy issue and allows the Board and its management to concentrate on the future development of the Farim project. Significantly, we are reducing the net outflow of new funds from the company to C$5.4 million, with an amount of C$1.5 million already held in escrow in relation to the claim.

We are now delighted to focus our efforts on the appointment of the EPCM contractor and the debt financing to propel Farim into the category of producer.

ON BEHALF OF THE BOARD

Luis da Silva
President and Chief Executive Officer

For further information please contact:

Luis da Silva
President and Chief Executive Officer
Telephone: + 1 (604) 569-0721
Angel Law
Chief Financial Officer and Corporate Secretary
Telephone: +1 (604) 569-0721

ABOUT GB MINERALS LTD.

On September 14, 2015, the Company announced the results of, and filing on SEDAR, of a new feasibility study on its Farim phosphate project entitled “NI 43-101 Technical Report On the Farim Phosphate Project” (the “2015 Feasibility Study“).

The Farim phosphate project is located in the northern part of central Guinea-Bissau, West Africa, approximately 25 kilometres south of the Senegal border, approximately 5 kilometres west of the town of Farim and some 120 kilometres northeast of Bissau, the capital of Guinea-Bissau, on a 30.6 km2 mining lease license granted by the Government of Guinea-Bissau to the Company’s wholly owned subsidiary, GB Minerals AG, in May 2009. The Company also holds a production license in relation to the Farim phosphate project.

The Farim phosphate project consists of a high grade sedimentary phosphate deposit of one continuous phosphate bed which extends over a known surface area of approximately 40 km2. It is estimated to contain measured and indicated resources of 105.6 million dry tonnes at a grade of 28.4% P2O5 and additional inferred resources of 37.6 million dry tonnes at 27.7% P2O5. The measured and indicated resources include 44.0 million dry tonnes of reserves based on a 25 year mine plan at 1.75 million tonnes per annum (“mtpa“) of mine production at the following run of mine grades: 30.0% P2O5, 2.6% Al2O3, 41.0% CaO, 4.7% Fe2O3, and 10.6% SiO2. The phosphate ore will be beneficiated for a final phosphate rock concentrate production of 1.32 mtpa at a 34.0% P2O5 grade at 3% moisture.

The 25 year mine plan also assumes a beneficiation process that involves scrubbing (both drum and attrition) followed by particle sizing to remove the fraction under 20 µm. This new beneficiation process will result in a 34.0% P2O5 product grade, mass recovery of 75.5% and 78.4% P2O5 recovery confirmed by a pilot scale test on a one tonne sample that took place in May 2015. After passing through the process plant, the final production of phosphate concentrate, based on 1.75 mtpa of run of mine feed, will be 1.32 mtpa. The life of mine operating costs are approximately US$52.13 per tonne of final concentrate. The initial capital cost for the project is estimated at US$193.8 million and does not include owner’s costs which amount to US$11 million and include items such as project insurance, resettlement and owner’s team costs. Owner’s costs have been included in the financial analysis.

For additional information, please visit us at www.gbminerals.com.

QUALIFIED PERSON

The Company’s Qualified Person is Dan Markovic, P. Eng., Project/Study Manager at Lycopodium Minerals Canada Ltd., who has reviewed and approves this press release. Mr. Markovic is independent from the Company.

FORWARD LOOKING STATEMENTS

Certain information in this news release relating to the Company is forward-looking and related to anticipated events and strategies. When used in this context, words such as “will”, “anticipate”, “believe”, “plan”, “intend”, “target” and “expect” or similar words suggest future outcomes. Forward-looking information contained in this press release includes, but may not be limited to the Placement, the use of proceeds and the business plans, statements or information relating to the anticipated development activities of the Company, the Farim Project (including the quantity and quality of mineral resource and mineral reserve estimates), the potential to upgrade inferred mineral resources, the ability of the Company to develop the Farim Project into a commercially viable mine and the proposed new plans relating thereto regarding operations and mine design, estimates relating to tonnage, grades, recovery rates, future phosphate production, future cash flows, life of mine estimates, expectations regarding production and estimates of capital and operating costs. By their nature, such statements are subject to significant risks and uncertainties that may cause actual results or events to differ materially from current expectations. Readers are cautioned not to place undue reliance on forward-looking information as actual results could differ materially from the plans, expectations, estimates or intentions expressed in the forward-looking information. Forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable law, the Company disclaims any obligation to update or modify such forward-looking information, either as a result of new information, future events or for any other reason.

Disclosure herein of exploration information and of mineral resources and mineral reserves is derived from the 2015 Feasibility Study. Information relating to “mineral resources” and “mineral reserves” is deemed to be forward-looking information as it involves the implied assessment based on certain estimates and assumptions that the mineral resources and mineral reserves can be profitable in the future. Such estimates are expressions of judgment based on knowledge, mining experience, analysis of drilling results and industry practices. Valid estimates made at a given time may significantly change when new information becomes available. By their nature, mineral resource and mineral reserve estimates are imprecise and depend, to a certain extent, upon statistical inferences which may ultimately prove unreliable. If such estimates are inaccurate or are reduced in the future, this could have a material adverse impact on the Company. Accordingly, readers should not place undue reliance on forward-looking information. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Due to the uncertainty that may be attached to inferred mineral resources, it cannot be assumed that all or any part of an inferred mineral resource will be upgraded to an indicated or measured mineral resource as a result of continued exploration.

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 RELEASE

SHAREHOLDER UPDATE: Brodsky & Smith, LLC Announces an Investigation of the Board of Directors of Diamond Resorts International, Inc. – DRII

By Brodsky & Smith, LLC

BALA CYNWYD, PA / ACCESSWIRE / July 8, 2016 / Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Diamond Resorts International, Inc. (“Diamond Resorts” or “the Company”) (NYSE: DRII) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Apollo Group Management, LLC (“Apollo”).

Click here to learn more about the investigation http://brodsky-smith.com/1097-drii-diamond-resorts-international-inc.html, or call: 877-534-2590. There is no cost or obligation to you.

Under the terms of the transaction, Diamond Resorts shareholders will receive only $30.25 in cash for each share of Diamond Resorts stock they own. The investigation concerns whether the Board of Diamond Resorts breached their fiduciary duties to shareholders and whether Apollo is underpaying for the Company. The transaction may undervalue the Company and would result in a substantial loss for many long-term Diamond Resorts shareholders. For example, Diamond Resorts stock traded at $34.61 per share on June 11, 2015 and an analyst has set a price target for the Diamond Resorts stock at $33.00 per share.

If you own shares of Diamond Resorts stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, by visiting http://brodsky-smith.com/1097-drii-diamond-resorts-international-inc.html, or calling toll free 877-LEGAL-90.

Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.

SOURCE: Brodsky & Smith, LLC

ReleaseID: 442124

SHAREHOLDER UPDATE: Brodsky & Smith, LLC Announces an Investigation of the Board of Directors of Starz – STRZA, STRZB

By Brodsky & Smith, LLC

BALA CYNWYD, PA / ACCESSWIRE / July 8, 2016 / Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Starz (“Starz” or “the Company”) (NASDAQ: STRZA or STRZB) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Lions Gate Entertainment Corp. (“LGF”) (NYSE: LGF).

Click here to learn more about the investigation http://brodsky-smith.com/1096-strza-and-strzb-starz.html, or call: 877-534-2590. There is no cost or obligation to you.

Under the terms of the transaction, STRZA shareholders will receive only $18.00 in cash and 0.6784 of a share of LGF for each share of STRZA stock they own. The transaction values STRZA at only proximately $32.21 per share. STRZB shareholders will receive only $7.60 in cash and 0.63 of a share of LGF for each share of STRZB stock they own. The transaction values STRZB at only approximately $33.73. The investigation concerns whether the Board of Starz breached their fiduciary duties to shareholders and whether LGF is underpaying for the Company. The transaction may undervalue the Company and would result in a substantial loss for many long-term Starz shareholders. For example, STRZA stock traded at $46.48 per share on July 16, 2015 and an analyst has set a price target for STRZA stock at $35.38 per share. In addition, STRZB traded at $44.86 on July 21, 2015.

If you own shares of Starz stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, by visiting http://brodsky-smith.com/1096-strza-and-strzb-starz.html, or calling toll free 877-LEGAL-90.

Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.

SOURCE: Brodsky & Smith, LLC

ReleaseID: 442125

72-Hour Deadline Alert: Lundin Law PC Announces Securities Class Action Lawsuit against NewLink Genetics Corporation and Reminds Investors with Losses to Contact the Firm

By Lundin Law PC

LOS ANGELES, CA / ACCESSWIRE / July 8, 2016 / Lundin Law PC announces that a class action lawsuit has been filed against NewLink Genetics Corporation (“NewLink” or the “Company”) (NASDAQ: NLNK) concerning possible violations of federal securities laws between September 17, 2013 and May 9, 2016 (the “Class Period”). Investors who purchased or otherwise acquired shares during the Class Period should contact the Firm in advance of the July 11, 2016 lead plaintiff motion deadline.

To participate in this class action lawsuit, please contact Brian Lundin, Esquire, of Lundin Law PC, at 888-713-1033, or via e-mail at brian@lundinlawpc.com.

No class has been certified in the above action. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.

According to the complaint, the Company made false and/or misleading statements during the Class Period touting the effectiveness of the Company’s algenpantucel-L pancreatic cancer treatment. On May 9, 2016 the Company announced that the treatment failed to meet its primary endpoint and according to the Phase 3 Clinical Trial, patients treated with algenpantucel-L survived for a median of 27.3 months while patients treated with standard therapy survived 30.4 months. When this news was released, NewLink’s stock price fell about 30.61%, causing investors harm.

Lundin Law PC was created by Brian Lundin, a securities litigator based in Los Angeles.

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

Contact:

Lundin Law PC
Brian Lundin, Esq.
Telephone: 888-713-1033
Facsimile: 888-713-1125
brian@lundinlawpc.com
lundinlawpc.com

SOURCE: Lundin Law PC

ReleaseID: 442148

INVESTOR NOTICE: Khang & Khang LLP Announces the Filing of a Securities Class Action Lawsuit against Immunomedics Inc. and Reminds Investors with Losses to Contact the Firm

By Khang & Khang LLP

IRVINE, CA / ACCESSWIRE / July 9, 2016 / Khang & Khang LLP (the “Firm”) announces that a class action lawsuit has been filed against Immunomedics Inc. (“Immunomedics” or the “Company”) (NASDAQ: IMMU). Investors who purchased or otherwise acquired shares between April 20, 2016 and June 2, 2016 inclusive (the “Class Period”), are encouraged to contact the Firm prior to the August 8, 2016
lead plaintiff motion deadline.

If you purchased shares of Immunomedics during the Class Period, please contact Joon M. Khang, Esquire, of Khang & Khang, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or by e-mail at joon@khanglaw.com.

There has been no class certification in this case. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.

According to the complaint, Immunomedics issued false and misleading statements to investors and/or failed to disclose: that the Company’s abstract for antibody-drug IMMU-132 submitted to the American Society of Clinical Oncology (ASCO) for presentation at their 2016 Annual Meeting contained previously disclosed results from a mid-stage study; that Immunomedics misrepresented to ASCO that the abstract contained only updated and previously undisclosed data; and that as a result of this ASCO removed the IMMU-132 presentation from the 2016 ASCO Annual Meeting schedule.

If you wish to learn more about this lawsuit, or if you have any questions concerning this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or by e-mail at joon@khanglaw.com.

This press release may constitute Attorney Advertising in some jurisdictions.


Contact:

Khang & Khang LLP
Joon M. Khang, Esq.
Telephone: 949-419-3834
Facsimile: 949-225-4474 
joon@khanglaw.com

SOURCE: Khang & Khang LLP

ReleaseID: 442149

IMPORTANT INVESTOR NOTICE: Lundin Law PC Announces Securities Class Action Lawsuit Against Neovasc Inc. And Reminds Investors With Losses To Contact The Firm

By Lundin Law PC

LOS ANGELES, CA / ACCESSWIRE / July 9, 2016 / Lundin Law PC announces a class action lawsuit has been filed against Neovasc Inc. (“Neovasc” or the “Company”) (NASDAQ: NVCN) concerning possible violations of federal securities laws between January 26, 2015 and May 19, 2016 (the “Class Period”). Investors who purchased or otherwise acquired shares during the Class Period should contact the Firm in advance of the August 5, 2016 lead plaintiff motion
deadline.

To participate in this class action lawsuit, click here to participate. You can also call Brian Lundin, Esquire, of Lundin Law PC, at 888-713-1033, or e-mail him at brian@lundinlawpc.com.

No class has been certified in the above action. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.

According to the complaint, the Company made false and/or misleading statements and/or failed to disclose that: the Company’s Tiara device was developed via through unlawful business practices such as misappropriation of trade secrets; that a related lawsuit against Neovasc regarding the misappropriation of trade secrets had merit; and that as a result of the above, the Company’s statements about business, operations, and prospects were materially false and misleading at all relevant times.

Lundin Law PC was created by Brian Lundin, a securities litigator based in Los Angeles.

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

Contact:

Lundin Law PC

Brian Lundin, Esq.

Telephone: 888-713-1033

Facsimile: 888-713-1125

brian@lundinlawpc.com
http://lundinlawpc.com/

SOURCE: Lundin Law PC

ReleaseID: 442150

INVESTOR ALERT: Lundin Law PC Announces Securities Class Action Lawsuit Against Banco Bradesco S.A. And Reminds Investors With Losses To Contact The Firm

By Lundin Law PC

LOS ANGELES, CA / ACCESSWIRE / July 9, 2016 / Lundin Law PC announces that a class action lawsuit has been filed against Banco Bradesco S.A. (“Banco Bradesco” or the “Company”) (NYSE: BBD) concerning possible violations of federal securities laws between April 30, 2012 and May 31, 2016 (the “Class Period”). Investors who purchased or otherwise acquired shares during the Class Period should contact the Firm in advance of the August 2, 2016 lead plaintiff motion
deadline.

To participate in this class action lawsuit, click here to participate. You can also call Brian Lundin, Esquire, of Lundin Law PC, at 888-713-1033, or e-mail him at brian@lundinlawpc.com.

No class has been certified in the above action. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.

According to the complaint, the Company made materially false and/or misleading statements and failed to disclose that: Banco Bradesco was involved in bribery with the Brazilian Finance Ministry’s CARF; the Company’s executives were planning on avoiding a $828 million tax fine by Brazil’s Internal Revenue Service; several of Banco Bradesco’s CEO, executives, directors, and employees were engaged in bribery, corruption, and money laundering; the Company’s internal control of financial reporting, procedures, and disclosure controls were ineffective; and as a result of the above, the Company’s public statements were materially false and misleading at all relevant times. On May 31, 2016 news reports disclosed that the Company’s CEO was indicted by Brazilian police on corruption charges. Upon announcement of this news on May 31, 2016, shares of Banco Bradesco fell nearly 6% on that same day.

Lundin Law PC was created by Brian Lundin, a securities litigator based in Los Angeles.

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

CONTACT:

Lundin Law PC

Brian Lundin, Esq.

Telephone: 888-713-1033

Facsimile: 888-713-1125

brian@lundinlawpc.com
http://lundinlawpc.com/

SOURCE: Lundin Law PC 

ReleaseID: 442151

IMPORTANT INVESTOR ALERT: Khang & Khang LLP Announces the Filing of a Securities Class Action Lawsuit against Ability Inc. and Reminds Investors with Losses to Contact the Firm

By Khang & Khang LLP

IRVINE, CA / ACCESSWIRE / July 9, 2016 / Khang & Khang LLP (the “Firm”) announces that a class action lawsuit has been filed against Ability Inc. (“Ability” or the “Company”) (NASDAQ: ABIL). Investors who purchased or otherwise acquired shares between September 8, 2015 and April 29, 2016 inclusive (the “Class Period”), are encouraged to contact the Firm prior to the July 25, 2016 lead plaintiff motion deadline.

If you purchased shares of Ability during the Class Period, please contact Joon M. Khang, Esquire, of Khang & Khang, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or by e-mail at joon@khanglaw.com.

There has been no class certification in this case. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.

According to the complaint, the Company issued false and misleading statements to investors and/or failed to disclose that: Ability overstated its income by not accounting for commissions; Ability materially overstated its operating results by improperly recognizing revenue on multiple element sales transactions; the Company has material weaknesses in its internal controls; and as a result of the above, the Company’s financial statements for the years ending December 31, 2013 and 2014 were materially false and misleading, and not prepared in accordance with U.S. Generally Accepted Accounting Principles.

If you wish to learn more about this lawsuit, or if you have any questions concerning this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or by e-mail at joon@khanglaw.com.

This press release may constitute Attorney Advertising in some jurisdictions.

CONTACT: 

Joon M. Khang, Esq.

Telephone: 949-419-3834

Facsimile: 949-225-4474

joon@khanglaw.com

SOURCE: Khang & Khang LLP 

ReleaseID: 442152

INVESTOR ALERT: Lundin Law PC Announces Securities Class Action Lawsuit Against Inovalon Holdings, Inc. And Reminds Investors With Losses To Contact The Firm

By Lundin Law PC

LOS ANGELES, CA / ACCESSWIRE / July 9, 2016 / Lundin Law PC announces a class action lawsuit has been filed against Inovalon Holdings, Inc. (“Inovalon” or the “Company”) (NASDAQ: INOV) concerning possible violations of federal securities laws in connection with Inovalon’s initial public offering (“IPO”) on February 12, 2015. Investors who purchased or otherwise acquired shares on or about February 12, 2015 should contact the Firm in advance of the August 23, 2016
lead plaintiff motion deadline.

To participate in this class action lawsuit, click here to participate. You can also call Brian Lundin, Esquire, of Lundin Law PC, at 888-713-1033, or e-mail him at brian@lundinlawpc.com.

No class has been certified in the above action. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.

According to the complaint, the Company’s Registration Statement issued in connection with the IPO failed to disclose material facts and contained misleading and/or false statements. Inovalon did not disclose that it receives substantial revenues from sales in New York City and New York State, both of which were pushing to obtain more taxes from out-of-state businesses like Inovalon. The corporate tax rate increases were implemented on January 1, 2015 and significantly raised Inovalon’s effective tax rate, and lowered the Company’s 2015 earning potential. When this information was revealed to the market, the Company’s common stock value declined significantly.

Lundin Law PC was created by Brian Lundin, a securities litigator based in Los Angeles.

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

CONTACT:

Lundin Law PC

Brian Lundin, Esq.

Telephone: 888-713-1033

Facsimile: 888-713-1125

brian@lundinlawpc.com
http://lundinlawpc.com/

SOURCE: Lundin Law PC  

ReleaseID: 442153