Chapter 11, Title 11, United States Code

Output Services Group, Inc. Achieves Comprehensive Recapitalization that Reduces Debt by 73% and Secures $50 Million Investment

Retrieved on: 
Monday, October 16, 2023

With the agreement, OSG, and certain of its affiliates, filed voluntary Chapter 11 petitions in order to pursue a pre-packaged Plan of Reorganization to implement the recapitalization transactions.

Key Points: 
  • With the agreement, OSG, and certain of its affiliates, filed voluntary Chapter 11 petitions in order to pursue a pre-packaged Plan of Reorganization to implement the recapitalization transactions.
  • During the reorganization process, which is expected to be successfully completed by the end of November 2023, OSG will continue normal business operations.
  • "We are grateful of the commitment our investors are demonstrating by providing this new financing," said Mr. Cherry.
  • OSG is represented by McDermott Will & Emery LLP as legal counsel, Accordion Partners as its financial advisors and Houlihan Lokey Capital, Inc. as its investment bank.

Capstone Green Energy Transitions to OTC Expert Market Following Nasdaq Delisting

Retrieved on: 
Monday, October 9, 2023

Capstone Green Energy Corporation (OTC: CGRNQ) (the Company or Capstone) received FINRA’s Notification of the Assignment of an Over-the-Counter Quoting and Trading Symbol CGRNQ for the Common Stock of Capstone Green Energy Corp.

Key Points: 
  • Capstone Green Energy Corporation (OTC: CGRNQ) (the Company or Capstone) received FINRA’s Notification of the Assignment of an Over-the-Counter Quoting and Trading Symbol CGRNQ for the Common Stock of Capstone Green Energy Corp.
  • Following this development, the Company has transitioned to trading on the OTC Expert Market, where it can be found under the ticker symbol CGRNQ.
  • Nasdaq delisted Capstone (CGRN), and trading in the Company’s common stock on the Nasdaq was suspended, effective on October 5, 2023.
  • Capstone will continue to trade on an over-the-counter (OTC) market, specifically OTC Markets’ “Expert Market” tier.

Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces Investigation of Capstone Green Energy Corporation (CGRN) on Behalf of Investors

Retrieved on: 
Friday, October 6, 2023

Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of Capstone Green Energy Corporation (“Capstone” or the “Company”) (NASDAQ: CGRN ) investors concerning the Company’s possible violations of the federal securities laws.

Key Points: 
  • Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of Capstone Green Energy Corporation (“Capstone” or the “Company”) (NASDAQ: CGRN ) investors concerning the Company’s possible violations of the federal securities laws.
  • 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.
  • On September 15, 2023, Capstone disclosed that it would be unable to file its Annual Report for the year ended March 31, 2023 on time.
  • Whistleblower Notice: Persons with non-public information regarding Capstone should consider their options to aid the investigation or take advantage of the SEC Whistleblower Program.

The Law Offices of Frank R. Cruz Announces Investigation of Capstone Green Energy Corporation (CGRN) on Behalf of Investors

Retrieved on: 
Friday, October 6, 2023

The Law Offices of Frank R. Cruz announces an investigation of Capstone Green Energy Corporation (“Capstone” or the “Company”) (NASDAQ: CGRN ) on behalf of investors concerning the Company’s possible violations of federal securities laws.

Key Points: 
  • The Law Offices of Frank R. Cruz announces an investigation of Capstone Green Energy Corporation (“Capstone” or the “Company”) (NASDAQ: CGRN ) on behalf of investors concerning the Company’s possible violations of federal securities laws.
  • On September 15, 2023, Capstone disclosed that it would be unable to file its Annual Report for the year ended March 31, 2023 on time.
  • On this news, Capstone’s stock price fell $0.06, or 8.9%, to close at $0.6196 per share on September 18, 2023, thereby injuring investors.
  • This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation of Capstone Green Energy Corporation (CGRN) on Behalf of Investors

Retrieved on: 
Friday, October 6, 2023

Law Offices of Howard G. Smith announces an investigation on behalf of Capstone Green Energy Corporation (“Capstone” or the “Company”) (NASDAQ: CGRN ) investors concerning the Company’s possible violations of federal securities laws.

Key Points: 
  • Law Offices of Howard G. Smith announces an investigation on behalf of Capstone Green Energy Corporation (“Capstone” or the “Company”) (NASDAQ: CGRN ) investors concerning the Company’s possible violations of federal securities laws.
  • On September 15, 2023, Capstone disclosed that it would be unable to file its Annual Report for the year ended March 31, 2023 on time.
  • On this news, Capstone’s stock price fell $0.06, or 8.9%, to close at $0.6196 per share on September 18, 2023, thereby injuring investors.
  • This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

CGRN INVESTOR NEWS: ROSEN, TRUSTED INVESTOR COUNSEL, Encourages Capstone Green Energy Corporation f/k/a Capstone Turbine Corporation Investors to Inquire About Securities Class Action Investigation - CGRN, CGRNQ

Retrieved on: 
Thursday, October 12, 2023

WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=19761 or call Phillip Kim, Esq.

Key Points: 
  • WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=19761 or call Phillip Kim, Esq.
  • WHAT IS THIS ABOUT: On September 15, 2023, Capstone Green Energy disclosed that it would be unable to file its Annual Report on time.
  • On September 28, 2023, Capstone Green Energy announced that it had filed for Chapter 11 bankruptcy.
  • 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017.

Mallinckrodt plc (in examinership) Receives U.S. Court Approval for Financial Restructuring Plan

Retrieved on: 
Tuesday, October 10, 2023

Siggi Olafsson, President and Chief Executive Officer of Mallinckrodt, said, "We are pleased to achieve this important milestone and look forward to moving ahead as a stronger company.

Key Points: 
  • Siggi Olafsson, President and Chief Executive Officer of Mallinckrodt, said, "We are pleased to achieve this important milestone and look forward to moving ahead as a stronger company.
  • We appreciate the significant support of our financial stakeholders, which has enabled us to reach this point quickly and without interruption to our patients, customers, employees or business partners."
  • Upon emergence, Mallinckrodt will eliminate approximately $1.9 billion of total funded debt and ownership of the business will transition to the Company's creditors.
  • Guggenheim Securities, LLC is serving as investment banker, and AlixPartners LLP is serving as restructuring advisor.

Mallinckrodt plc (in examinership) Receives U.S. Court Approval for Financial Restructuring Plan

Retrieved on: 
Tuesday, October 10, 2023

Siggi Olafsson, President and Chief Executive Officer of Mallinckrodt, said, "We are pleased to achieve this important milestone and look forward to moving ahead as a stronger company.

Key Points: 
  • Siggi Olafsson, President and Chief Executive Officer of Mallinckrodt, said, "We are pleased to achieve this important milestone and look forward to moving ahead as a stronger company.
  • We appreciate the significant support of our financial stakeholders, which has enabled us to reach this point quickly and without interruption to our patients, customers, employees or business partners."
  • Upon emergence, Mallinckrodt will eliminate approximately $1.9 billion of total funded debt and ownership of the business will transition to the Company's creditors.
  • Guggenheim Securities, LLC is serving as investment banker, and AlixPartners LLP is serving as restructuring advisor.

Scilex Holding Company Provides Notice to All Lenders of Short Positions in the Restricted Dividend Shares of Scilex Holding Company

Retrieved on: 
Wednesday, October 4, 2023

The Scilex Dividend Stock was primarily received by “record holders,” or brokers, dealers, banks and other nominees acting as agents for shareholders who are the true “beneficial owners” of the Scilex Dividend Stock.

Key Points: 
  • The Scilex Dividend Stock was primarily received by “record holders,” or brokers, dealers, banks and other nominees acting as agents for shareholders who are the true “beneficial owners” of the Scilex Dividend Stock.
  • “Naked short” sales or “naked short” positions in any Scilex common stock may constitute a violation of SEC Regulation SHO.
  • Before taking any further legal action against such Short Sellers, on October 3, 2023, Scilex provided a proposal to those Short Sellers who had not yet closed or covered their respective short positions in Scilex Dividend Stock (“Short Seller Proposal”).
  • Scilex is now making a similar offer to the lenders of the short positions in Scilex Dividend Stock held by the Short Sellers (“Lender”).

Eton Pharmaceuticals Announces Acquisition of FDA-Approved Ultra-Rare Disease Product Nitisinone

Retrieved on: 
Wednesday, October 4, 2023

DEER PARK, Ill., Oct. 04, 2023 (GLOBE NEWSWIRE) -- Eton Pharmaceuticals (“Eton” or “the Company”) (Nasdaq: ETON), an innovative pharmaceutical company focused on developing, acquiring, and commercializing products to address unmet needs in patients suffering from rare diseases, today announced it has entered into an agreement to acquire an abbreviated new drug application for Nitisinone Capsules via Oakrum Pharma, LLC’s Chapter 11 bankruptcy proceeding. The transaction has been approved by the bankruptcy court and is expected to be effective on October 12, 2023. The acquired product was approved by the U.S. Food and Drug Administration (FDA) in May of 2023 for the treatment of hereditary tyrosinemia type 1 (HT-1) in combination with dietary restriction of tyrosine and phenylalanine. It is estimated that less than 500 patients in the United States suffer from this ultra-rare condition.

Key Points: 
  • Nitisinone is our fourth FDA-approved product, and further advances us toward our goal of having ten commercial rare disease products on the market by the end of 2025.
  • Eton expects to launch the product in the first quarter of 2024 and plans to offer its Eton Cares support program to all patients.
  • Nitisinone is a prescription medicine used to treat adults and children with a hereditary disease called tyrosinemia type 1 (HT-1).
  • To report a suspected adverse event related to Nitisinone, contact Eton Pharmaceuticals, Inc. at: 1-855-224-0233 or the US Food and Drug Administration at www.fda.gov/medwatch or call 1-800-FDA-1088.