Bankruptcy

Nogin Announces Confirmation of Restructuring Plan

Retrieved on: 
Wednesday, April 3, 2024
Plan, Content as a service, LLP, United States bankruptcy court, Bankruptcy, Commerce, Note, Debt-to-GDP ratio, Hall

NEW YORK, April 03, 2024 (GLOBE NEWSWIRE) -- Nogin , a pioneer in Commerce-as-a-Service (CaaS) e-commerce technology and services, today announced that the United States Bankruptcy Court for the District of Delaware has confirmed its Chapter 11 Plan (the “Plan”) clearing the path for the company to successfully complete its financial restructuring.

Key Points: 
  • NEW YORK, April 03, 2024 (GLOBE NEWSWIRE) -- Nogin , a pioneer in Commerce-as-a-Service (CaaS) e-commerce technology and services, today announced that the United States Bankruptcy Court for the District of Delaware has confirmed its Chapter 11 Plan (the “Plan”) clearing the path for the company to successfully complete its financial restructuring.
  • Under the Plan, Nogin’s reorganized equity interests will be acquired by a newly formed entity sponsored by B. Riley Financial, Inc. (“B.
  • Riley”), and Nogin will continue to operate in the ordinary course.
  • served as bankruptcy counsel, Portage Point Partners provided interim restructuring and management services and Livingstone Partners LLC acted as investment banker to Nogin in its restructuring.

SHAREHOLDER NOTICE: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Hut 8

Retrieved on: 
Wednesday, April 3, 2024
Bitcoin, Research, Bankruptcy, News, LLP, Data mining, Hut 8, Advertising, Court, Mergers and acquisitions, Cryptocurrency

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia.

Key Points: 
  • Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia.
  • In November 2023, Hut 8 formed following the merger of Hut 8 Mining Corp. (“Legacy Hut”) and U.S. Data Mining Group, Inc. d/b/a US Bitcoin Corp. (“USBTC”) (the “Merger”).
  • Faruqi & Faruqi, LLP also encourages anyone with information regarding Hut 8’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
  • The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( www.faruqilaw.com ).

Sientra Announces Completion and Winning Bidders of its Section 363 Sales Auction

Retrieved on: 
Tuesday, April 2, 2024
Stifel, Tiger, Sale, Berkeley Research Group, Acquisition, Blank Rome, United States bankruptcy court, Bankruptcy, Breast, Regenerative medicine, Hearing, Kirkland & Ellis, Kirkland, Insurance

IRVINE, Calif., April 02, 2024 (GLOBE NEWSWIRE) -- Sientra, Inc. (“Sientra” or the “Company”) announced that, following the completion of its Section 363 sales auction, Tiger Aesthetics Medical, LLC (“Tiger”) has been declared the successful bidder for certain of the assets of Sientra used in its breast reconstruction and augmentation business. As consideration for the acquisition, Tiger will pay a cash consideration of $42.5 million as well as assume certain liabilities of the Company, including up to $7 million in cure costs for certain assumed contracts, all the Company’s warranties for breast implants sold prior to the closing date, and all of the Company’s customer contracts.

Key Points: 
  • IRVINE, Calif., April 02, 2024 (GLOBE NEWSWIRE) -- Sientra, Inc. (“Sientra” or the “Company”) announced that, following the completion of its Section 363 sales auction, Tiger Aesthetics Medical, LLC (“Tiger”) has been declared the successful bidder for certain of the assets of Sientra used in its breast reconstruction and augmentation business.
  • Sientra also announced that it has entered into a definitive agreement with Nuance Intermediary, LLC (“Nuance”), pursuant to which Nuance will acquire substantially all the assets of Sientra used in its BIOCORNEUM business.
  • Tiger Aesthetics Medical, LLC is represented by Blank Rome LLP as legal counsel and H.C. Wainwright & Co. as investment banker.
  • Nuance Intermediary, LLC, an investment of Nuance Holdings LLC, as well as the owner of Nuance Medical, is represented by Ferguson Braswell Fraser Kubasta PC as legal counsel.

Bankruptcy Filings Increase Across All Chapters in First Quarter 2024

Retrieved on: 
Tuesday, April 2, 2024
Bankruptcy, Congress, ABI, Dive (Belgian band), Housing, Task force, Calendar, Cryptocurrency

Total overall commercial bankruptcies increased 22 percent in the first quarter of 2024, as the 7,113 filings surpassed the 5,820 commercial filings during the first quarter of 2023.

Key Points: 
  • Total overall commercial bankruptcies increased 22 percent in the first quarter of 2024, as the 7,113 filings surpassed the 5,820 commercial filings during the first quarter of 2023.
  • The 120,094 total bankruptcy filings represented a 14 percent increase from the 105,497 total filings during the same period last year.
  • Consumer filings increased 13 percent, to 112,981 filings in the first quarter of 2024 from the 99,677 consumer filings during the same period in 2023.
  • Individual chapter 7 filings during the first quarter of 2024 were 66,861, a 17 percent increase over the 57,158 individual chapter 7 filings during the same period in 2023.

Eiger BioPharmaceuticals Files for Voluntary Chapter 11 Protection

Retrieved on: 
Monday, April 1, 2024
International, Patient, Sale, Bankruptcy Code, Acquisition, United States bankruptcy court, Bankruptcy, PALO, Therapy, Sidley Austin, Eiger

PALO ALTO, Calif., April 01, 2024 (GLOBE NEWSWIRE) -- Eiger BioPharmaceuticals, Inc. (Nasdaq:EIGR) today announced that it and its direct subsidiaries have filed voluntary petitions for chapter 11 protection under the United States Bankruptcy Code in the United States Bankruptcy Court for the Northern District of Texas. The company also announced a “stalking horse” agreement for the sale of Zokinvy® (lonafarnib) to Sentynl Therapeutics, Inc., a biopharmaceutical company focused on rare diseases. Under the terms of the “stalking horse” agreement, subject to court approval, Sentynl Therapeutics will pay up to $26.0 million, subject to certain purchase price adjustments, including per diem reductions if the sale closes after April 24, 2024, for the acquisition of Zokinvy®. In accordance with Section 363 of the Bankruptcy Code, other potential bidders can submit competing bids for the company’s assets through a court-supervised process.  

Key Points: 
  • PALO ALTO, Calif., April 01, 2024 (GLOBE NEWSWIRE) -- Eiger BioPharmaceuticals, Inc. (Nasdaq:EIGR) today announced that it and its direct subsidiaries have filed voluntary petitions for chapter 11 protection under the United States Bankruptcy Code in the United States Bankruptcy Court for the Northern District of Texas.
  • Eiger filed customary “first day” motions with the court requesting relief designed to enable Eiger to transition into chapter 11 and uphold its commitments to stakeholders during the process without material disruption to its ordinary course of operations.
  • Court filings and other information regarding the chapter 11 case are available via Kurtzman Carson Consultants LLC, a third-party bankruptcy claims and noticing agent, at: www.kccllc.net/Eiger.
  • Eiger does not undertake and specifically disclaims any obligation to update any forward-looking statements, whether as a result of any new information, future events, changed circumstances or otherwise.

Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Hut 8, Anavex, and Innoviz and Encourages Investors to Contact the Firm

Retrieved on: 
Sunday, March 31, 2024
Bitcoin, Research, Bankruptcy, Patient, Defendant, News, Data mining, Rett syndrome, Complaint, Hut 8, P.C, Clinical trial, MCI, Radar, Mergers and acquisitions, Cryptocurrency

Stockholders have until the deadlines below to petition the court to serve as lead plaintiff.

Key Points: 
  • Stockholders have until the deadlines below to petition the court to serve as lead plaintiff.
  • Additional information about each case can be found at the link provided.
  • In November 2023, Hut 8 formed following the merger of Hut 8 Mining Corp. (“Legacy Hut”) and U.S. Data Mining Group, Inc. d/b/a US Bitcoin Corp. (“USBTC”) (the “Merger”).
  • For more information on the Innoviz class action go to: https://bespc.com/cases/INVZ

SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Hut 8 Corp. of Class Action Lawsuit and Upcoming Deadlines – HUT

Retrieved on: 
Sunday, March 31, 2024
Research, Prior, Bankruptcy, Mining, District court, Defendant, News, Ext, LLP, Complaint, Hut 8, Pomerantz, Action Replay, Court, Mergers and acquisitions, Person, Cryptocurrency

NEW YORK, March 31, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Hut 8 Corp. (“Hut 8” or the “Company”) (NASDAQ: HUT).

Key Points: 
  • NEW YORK, March 31, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Hut 8 Corp. (“Hut 8” or the “Company”) (NASDAQ: HUT).
  • To discuss this action, contact Danielle Peyton at [email protected] or 646-581-9980 (or 888.4-POMLAW), toll-free, Ext.
  • Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
  • Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions.

Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Hut 8 Corp. (HUT)

Retrieved on: 
Friday, March 29, 2024
Bitcoin, Research, Bankruptcy, GPM, Defendant, News, Data mining, Suite, Hut 8, Investment, Court, Mergers and acquisitions, Cryptocurrency

You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [email protected] to learn more about your rights.

Key Points: 
  • You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [email protected] to learn more about your rights.
  • In November 2023, Hut 8 formed following the merger of Hut 8 Mining Corp. (“Legacy Hut”) and U.S. Data Mining Group, Inc. d/b/a US Bitcoin Corp. (“USBTC”) (the “Merger”).
  • 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.
  • Glancy Prongay & Murray LLP, Los Angeles

SHAREHOLDER ACTION REMINDER: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Hut 8

Retrieved on: 
Thursday, March 28, 2024
Bitcoin, Research, Bankruptcy, News, LLP, Data mining, Hut 8, Advertising, Court, Mergers and acquisitions, Cryptocurrency

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia.

Key Points: 
  • Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia.
  • In November 2023, Hut 8 formed following the merger of Hut 8 Mining Corp. (“Legacy Hut”) and U.S. Data Mining Group, Inc. d/b/a US Bitcoin Corp. (“USBTC”) (the “Merger”).
  • Faruqi & Faruqi, LLP also encourages anyone with information regarding Hut 8’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
  • The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com).

Scilex Holding Company Announces that the U.S. Bankruptcy Court has Extended the Lockup Period on Shares of Scilex Stock Previously Distributed by Sorrento to its Stockholders as a Dividend

Retrieved on: 
Wednesday, March 27, 2024
Chronic pain, United States bankruptcy court, Bankruptcy, PALO, OTC, Court, Holding company

Such lock-up period was previously set to expire on March 31, 2024.

Key Points: 
  • Such lock-up period was previously set to expire on March 31, 2024.
  • The Court did not make any determination regarding the merits of the Stock Clawback Claims.
  • Accordingly, any shares of the Dividend Stock (including any such shares held by brokerage firms) may not be sold, transferred or otherwise disposed of and the holders of Dividend Stock would be prohibited from causing or encouraging any third party to do the same.
  • The foregoing extension shall apply only to the Dividend Stock and does not apply to any other outstanding securities of Scilex.