Bankruptcy

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

Retrieved on: 
Thursday, March 14, 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).

Acorda Therapeutics Announces Nasdaq Delisting Notification

Retrieved on: 
Wednesday, April 3, 2024
Biotechnology, Pharmaceutical, Health, United States bankruptcy court, Bankruptcy, Merz, Açorda, Therapy, Acorda Therapeutics

Acorda Therapeutics, Inc. (Nasdaq: ACOR) announced that Nasdaq Stock Market ("Nasdaq") today notified the Company that it will suspend trading in and delist the Company's common stock, effective with the opening of business on April 12, 2024.

Key Points: 
  • Acorda Therapeutics, Inc. (Nasdaq: ACOR) announced that Nasdaq Stock Market ("Nasdaq") today notified the Company that it will suspend trading in and delist the Company's common stock, effective with the opening of business on April 12, 2024.
  • The notice follows the Company's April 1, 2024 announcement that it has reached an agreement with Merz Therapeutics to acquire substantially all of the assets of the Company.
  • In connection with that announcement, Acorda and certain of its affiliates filed voluntary petitions to commence Chapter 11 proceedings in the U.S. Bankruptcy Court for the Southern District of New York.
  • Once the delisting takes effect, Acorda expects its common stock to begin trading on the Pink Open Market (commonly referred to as the “pink sheets”).

Former Texas Assistant AG, US Trustee Trial Attorney Casey Roy Joins Austin Office of Ross, Smith & Binford, PC

Retrieved on: 
Tuesday, April 2, 2024
Legal, Professional Services, USTP, Private practice, Employment, Bankruptcy, Growth, Chapter Seven, Practice of law

Trustee trial attorney J. Casey Roy has joined the Austin office of the bankruptcy and mediation boutique Ross, Smith & Binford, PC .

Key Points: 
  • Trustee trial attorney J. Casey Roy has joined the Austin office of the bankruptcy and mediation boutique Ross, Smith & Binford, PC .
  • Trustee Program, Mr. Roy was responsible for oversight of Chapter 11 and Chapter 7 bankruptcy proceedings in the Western District of Texas.
  • “I worked with Jason when we were both at the Texas AG’s office and have followed the growth of Ross, Smith & Binford.
  • Prior to joining the USTP, Mr. Roy was an Assistant Attorney General at the Office of the Texas Attorney General in Austin as a member of the Bankruptcy and Collections Division.

Vecima Announces Intent to Acquire the Assets of Casa Systems’ Cable Business

Retrieved on: 
Wednesday, April 3, 2024
Telecommunications, Software, Networks, Internet, Audio, Video, Technology, Carriers and Services, Mobile, Wireless, CASA, Sale, Bankruptcy Code, United States bankruptcy court, Bankruptcy, TSX, Network, VCM, APA, USD, Security (finance)

Vecima Networks, Inc. (TSX: VCM) today announced it has entered into an asset purchase agreement (“APA”) to acquire the Cable Business assets of Casa Systems, Inc. (“Casa”) and certain of Casa’s subsidiaries.

Key Points: 
  • Vecima Networks, Inc. (TSX: VCM) today announced it has entered into an asset purchase agreement (“APA”) to acquire the Cable Business assets of Casa Systems, Inc. (“Casa”) and certain of Casa’s subsidiaries.
  • Under the APA, Vecima, or its affiliates, will acquire substantially all the assets of Casa’s Cable Business for a purchase price of USD $20 million.
  • Casa is seeking approval of Vecima as a “stalking horse” bidder for the Cable Business assets under Section 363 of the Bankruptcy Code.
  • The transaction is subject to Bankruptcy Court approval and other bids for the Cable Business assets at an auction coordinated through the Bankruptcy Court.

Acorda Therapeutics and Merz Announce Signing of “Stalking Horse” Asset Purchase Agreement

Retrieved on: 
Monday, April 1, 2024
Health, Neurology, Other Health, General Health, Clinical Trials, Pharmaceutical, Biotechnology, SVB Securities, Bankruptcy, Neurotoxin, Multiple sclerosis, Patient, King & Spalding, Merz, Sale, Perella Weinberg Partners, LLP, Security (finance), United States bankruptcy court, Morgan Stanley, Ernst & Young, DSM-IV codes, Therapy, Acorda Therapeutics

Acorda Therapeutics, Inc. (Nasdaq: ACOR) (“Acorda” or “the Company”) today announced that it has entered into an asset purchase agreement with Merz Therapeutics to purchase substantially all of the assets of Acorda, including the rights to INBRIJA, AMPYRA, and FAMPYRA for $185 million.

Key Points: 
  • Acorda Therapeutics, Inc. (Nasdaq: ACOR) (“Acorda” or “the Company”) today announced that it has entered into an asset purchase agreement with Merz Therapeutics to purchase substantially all of the assets of Acorda, including the rights to INBRIJA, AMPYRA, and FAMPYRA for $185 million.
  • Merz Therapeutics, a leader in the field of neurotoxins, is a business of the global family-owned company Merz, headquartered in Frankfurt am Main, Germany.
  • The decision to file for Chapter 11 protection follows a lengthy strategic review during which the Company explored a wide range of strategic options.
  • Upon court approval, Acorda expects to minimize the impact of the bankruptcy process on its employees, customers, patients, and other key stakeholders.

NYSE American to Commence Delisting Proceedings Against Airspan Networks Holdings Inc. (MIMO)

Retrieved on: 
Monday, April 1, 2024
Finance, Professional Services, Other Professional Services, Technology, Telecommunications, Exchange, Form, Committee, Security (finance), United States bankruptcy court, Bankruptcy, MIMO

NYSE American LLC (“NYSE American” or the “Exchange”) announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the common stock of Airspan Networks Holdings Inc. (the “Company”) — ticker symbol MIMO — from NYSE American.

Key Points: 
  • NYSE American LLC (“NYSE American” or the “Exchange”) announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the common stock of Airspan Networks Holdings Inc. (the “Company”) — ticker symbol MIMO — from NYSE American.
  • In reaching its delisting determination, NYSE Regulation notes that the Company entered into a Restructuring Support Agreement on March 29, 2024.
  • However, there is uncertainty as to the ultimate effect of this process on the value of the Company’s common stock.
  • The NYSE American will apply to the Securities and Exchange Commission to delist the Company’s common stock upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff’s decision.

Shoes For Crews® Commences Financial Restructuring to Complete Sale Process and Continue Global Industry Leadership on Stronger Financial Foundation

Retrieved on: 
Tuesday, April 2, 2024
Office Products, Online Retail, Manufacturing, Travel, Cruise, Supermarket, Specialty, Food, Beverage, Retail, Textiles, Restaurant, Bar, Growth, International, Stalking, Sale, DIP, LLP, Berkeley Research Group, United States bankruptcy court, Bankruptcy, Shoe, Possessive, File, Ropes & Gray

The Company is commencing a court-supervised sale process to “market-check” the Stalking Horse APA and seeks the highest or otherwise best bid for its assets to maximize value for all stakeholders.

Key Points: 
  • The Company is commencing a court-supervised sale process to “market-check” the Stalking Horse APA and seeks the highest or otherwise best bid for its assets to maximize value for all stakeholders.
  • The Company is targeting the sale process to be completed in approximately two months.
  • Shoes For Crews has also filed standard “first day” motions in the Chapter 11 cases, seeking court approval to continue supporting its operations during the court-supervised sale process.
  • Additional information is available through the Company’s claims agent, Omni Agent Solutions, at https://omniagentsolutions.com/ShoesforCrews .

Airspan to Receive Up to $95 Million in New Equity Financing and Eliminate All Existing Funded Debt

Retrieved on: 
Sunday, March 31, 2024
Technology, Mobile, Wireless, Software, 5G, Networks, Hardware, Agreement, Fortification, Partner (business rank), DIP, LLP, United States bankruptcy court, Bankruptcy, Fortress Investment Group, VRS, Telecommunications, MIMO, Hand, Dorsey & Whitney, Security (finance)

Our significant commitments through this Agreement reflect our conviction that a recapitalized Airspan can further solidify its leadership position within the wireless industry.

Key Points: 
  • Our significant commitments through this Agreement reflect our conviction that a recapitalized Airspan can further solidify its leadership position within the wireless industry.
  • Airspan will operate its business without disruption through this process, safeguarding its commitment to employees, customers, and suppliers.
  • The DIP financing is subject to Court approval and the satisfaction of specified closing conditions.
  • VRS Restructuring Services, LLC is serving as Airspan’s financial advisor and Intrepid Investment Bankers LLC is serving as Airspan’s investment banker.

DWS Strategic Municipal Income Trust Announces Termination and Liquidating Distribution to Shareholders

Retrieved on: 
Thursday, March 28, 2024
Asset Management, Professional Services, Finance, Nature, Risk, War, Trustee, Fund, Terrorism, Bankruptcy, Investment, Sale, DWS, KSM, Legislation, Virus, Security (finance)

DWS Strategic Municipal Income Trust (NYSE: KSM) (the “Fund”) announced today that the Board of Trustees has approved the termination of the Fund, pursuant to which the Fund will make a liquidating distribution to shareholders no later than November 30, 2024.

Key Points: 
  • DWS Strategic Municipal Income Trust (NYSE: KSM) (the “Fund”) announced today that the Board of Trustees has approved the termination of the Fund, pursuant to which the Fund will make a liquidating distribution to shareholders no later than November 30, 2024.
  • DWS Strategic Municipal Income Trust.
  • Credit risk refers to the ability of an issuer to make timely payments of principal and interest.
  • Investing in derivatives entails special risks relating to liquidity, leverage and credit that may reduce returns and/or increase volatility.

CFP Board Imposes Public Sanctions on Nine Individuals

Retrieved on: 
Friday, April 5, 2024
Other Professional Services, Personal Finance, Finance, Asset Management, Consulting, Accounting, Professional Services, Business, GroupMe, Family, United States bankruptcy court, Counsel, Paramus, New Jersey, Assault, FINRA, Employment, Bankruptcy, Supreme court, Assault and battery, Average revenue per user, Telephone, Publishing, Code, Commission, Financial institution, Suspension, Ethics commission, Abuse, Household, DEC, Motion, Complaint, Superior court, CFP, Hearing, Financial Industry Regulatory Authority, Nursing

Joseph Tomczyk, CFP® (Paramus, New Jersey): In November 2023, the Disciplinary and Ethics Commission (Commission) issued an order in which Mr. Tomczyk received a Public Censure.

Key Points: 
  • Joseph Tomczyk, CFP® (Paramus, New Jersey): In November 2023, the Disciplinary and Ethics Commission (Commission) issued an order in which Mr. Tomczyk received a Public Censure.
  • In accordance with Article 3 of CFP Board’s Procedural Rules, CFP Board Enforcement Counsel delivered to Mr. Tomczyk a Complaint for Single Bankruptcy.
  • Mark A. Witaschek (Bedford, New Hampshire): In October 2023, CFP Board issued an order in which Mr. Witaschek received a Suspension that prohibits him from using the CFP Board certification marks for five years.
  • After taking the March 2021 CFP® exam, Mr. Basu posted a summary of the exam topics and other content from his CFP® exam to the chat group.