Settlement | Jotup

Ambac Settles RMBS Litigation Against Nomura

Retrieved on:

Tuesday, January 3, 2023

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Ambac Financial Group (NYSE: AMBC), a financial services holding company whose subsidiaries include Ambac Assurance Corporation (“AAC”), today announced that on December 29, 2022, AAC entered into a Settlement Agreement and Release (the “Settlement Agreement”) with Nomura Credit & Capital, Inc. (“Nomura”) to settle its RMBS litigation1 against Nomura.

Key Points:

Ambac Financial Group (NYSE: AMBC), a financial services holding company whose subsidiaries include Ambac Assurance Corporation (“AAC”), today announced that on December 29, 2022, AAC entered into a Settlement Agreement and Release (the “Settlement Agreement”) with Nomura Credit & Capital, Inc. (“Nomura”) to settle its RMBS litigation1 against Nomura.
This settlement materially exceeds the amount of subrogation recovery recorded on Ambac’s 3Q 2022 consolidated GAAP financial statements attributable to the Nomura litigation.
Accordingly, Ambac estimates that it will record a gain with respect to the settlement of approximately $43 million.
Claude LeBlanc, Ambac President and Chief Executive Officer, stated, “Ambac is very pleased to have reached this settlement with Nomura, which, in addition to the previously announced Bank of America settlement, successfully brings closure to all of Ambac’s legacy RMBS representation and warranty litigation.”
1Includes the following pending litigation: Ambac Assurance Corporation and The Segregated Account of Ambac Assurance Corporation v. Nomura Credit & Capital, Inc. and Nomura Holding America Inc. (Supreme Court of the State of New York, County of New York, Case No.

Keller Rohrback L.L.P.: Plaintiffs Seek Court Approval of $725 Million Settlement in Facebook Cambridge Analytica Consumer Privacy Class Action

Retrieved on:

Friday, December 23, 2022

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: Facebook User Plaintiffs and Defendant Facebook have agreed to resolve In re: Facebook, Inc. Consumer Privacy User Profile Litig., No.

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: Facebook User Plaintiffs and Defendant Facebook have agreed to resolve In re: Facebook, Inc. Consumer Privacy User Profile Litig., No.
3:18-md-02843-VC, the class action arising out of the Cambridge Analytica scandal, for $725 million—the largest settlement ever of a privacy class action in the United States.
Today, Plaintiffs filed a motion seeking preliminary approval of the settlement.
The parties notified the Court of a settlement in principle in August and after months of additional negotiations have now filed the details of the settlement with the Court.

If You Used a Credit or Debit Card at a Dickey's Barbecue Restaurant Between April 23, 2019 and October 29, 2020, You May Be Part of a Class Action Settlement

Retrieved on:

Friday, January 6, 2023

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This settlement resolves claims on behalf of all customers who used their credit or debit cards at an affected Dickey's location during the Period of the Security Incident (the "Settlement").

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This settlement resolves claims on behalf of all customers who used their credit or debit cards at an affected Dickey's location during the Period of the Security Incident (the "Settlement").
In addition to credit monitoring and monetary compensation, Dickey's has implemented and agreed to further implement significant data security enhancements.
Class members may select one of three forms of relief: (1) expense reimbursement; (2) cash payment; or (3) credit services option.
You may appear at the hearing, either yourself or through an attorney hired by you, but you don't have to.

Pyxus Announces the Commencement of Exchange Offer and Consent Solicitation With Respect to its 10.000% Senior Secured First Lien Notes Due 2024

Retrieved on:

Thursday, January 5, 2023

Any and all Existing Notes validly tendered and not validly withdrawn at or prior to the Expiration Date will be accepted for exchange into the New Notes.

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Any and all Existing Notes validly tendered and not validly withdrawn at or prior to the Expiration Date will be accepted for exchange into the New Notes.
To the extent approved by requisite holders of Existing Notes, the Supplemental Indenture will be binding on all holders of Existing Notes that are not tendered and accepted in the Exchange Offer.
You must make your own decision whether to tender your Existing Notes in the Exchange Offer and provide Consents in the Consent Solicitation.
Ipreo LLC has been appointed as the exchange agent and information agent for the Exchange Offer and the Consent Solicitation (the "Information Agent").

Florida Office of Insurance Regulation Approves East Resources Acquisition Company’s Business Combination With Abacus Life

Retrieved on:

Tuesday, December 20, 2022

Abacus Settlements, LLC (d/b/a Abacus Life) and Longevity Market Assets, LLC (together “Abacus”), a leading buyer of life insurance policies and vertically integrated alternative asset manager specializing in specialty insurance products, announced today that the Florida Office of Insurance Regulation executed a consent order approving East Resources Acquisition Company’s (NASDAQ: ERES) (“East Resources” or “ERES”) business combination with Abacus.

Key Points:

Abacus Settlements, LLC (d/b/a Abacus Life) and Longevity Market Assets, LLC (together “Abacus”), a leading buyer of life insurance policies and vertically integrated alternative asset manager specializing in specialty insurance products, announced today that the Florida Office of Insurance Regulation executed a consent order approving East Resources Acquisition Company’s (NASDAQ: ERES) (“East Resources” or “ERES”) business combination with Abacus.
As previously announced, on August 30, 2022, Abacus Life entered into a definitive merger agreement with East Resources, a special purpose acquisition company, that is expected to result in Abacus Life becoming a publicly listed company.
Abacus is a leading vertically integrated alternative asset manager specializing in life insurance products.
With over $2.9 billion in face value of policies purchased, Abacus has helped thousands of clients maximize the value of life insurance.

MFDA issues Notice of Settlement Hearing in respect of GP Wealth Management Corporation

Retrieved on:

Wednesday, December 28, 2022

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The settlement agreement will be between Staff of the MFDA and GP Wealth Management Corporation (the "Respondent") and involves matters for which the Respondent may be disciplined by a Hearing Panel pursuant to MFDA By-laws.

Key Points:

The settlement agreement will be between Staff of the MFDA and GP Wealth Management Corporation (the "Respondent") and involves matters for which the Respondent may be disciplined by a Hearing Panel pursuant to MFDA By-laws.
MFDA settlement hearings are typically held in the absence of the public pursuant to section 20.5 of MFDA By-law No.
A copy of the Notice of Settlement Hearing is available on the MFDA website at www.mfda.ca .
During the period described in the Notice of Settlement Hearing, the Respondent conducted business in the Mississauga, Ontario area.

Enforcement Notice - Decision - 22-0206 - IIROC Sanctions CIBC World Markets Inc.

Retrieved on:

Thursday, December 22, 2022

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TORONTO, Dec. 22, 2022 /CNW/ - On December 20, 2022, a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) accepted a Settlement Agreement, with sanctions, between IIROC staff and CIBC World Markets Inc.

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TORONTO, Dec. 22, 2022 /CNW/ - On December 20, 2022, a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) accepted a Settlement Agreement, with sanctions, between IIROC staff and CIBC World Markets Inc.
CIBC World Markets Inc. admitted to conduct involving supervisory controls over client fee agreements.
Pursuant to the Settlement Agreement, CIBC World Markets Inc. agreed to the following penalty:
(a) a fine in the amount of $119,000.
The Settlement Agreement is available at:
IIROC formally initiated the investigation into CIBC World Market Inc.'s conduct in December 2021.
IIROC sets high quality regulatory and investment industry standards, protects investors and strengthens market integrity while supporting healthy Canadian capital markets.

MFDA issues Notice of Settlement Hearing in respect of Ryan Small

Retrieved on:

Wednesday, December 21, 2022

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The settlement agreement will be between Staff of the MFDA and Ryan Todd Small (the "Respondent") and involves matters for which the Respondent may be disciplined by a Hearing Panel pursuant to MFDA By-laws.

Key Points:

The settlement agreement will be between Staff of the MFDA and Ryan Todd Small (the "Respondent") and involves matters for which the Respondent may be disciplined by a Hearing Panel pursuant to MFDA By-laws.
MFDA settlement hearings are typically held in the absence of the public pursuant to section 20.5 of MFDA By-law No.
A copy of the Notice of Settlement Hearing is available on the MFDA website at www.mfda.ca .
During the period described in the Notice of Settlement Hearing, the Respondent carried on business in the Mississauga, Ontario area.

MFDA Hearing Panel accepts settlement agreement with Zhi Cheng Charles Jiang

Retrieved on:

Wednesday, December 21, 2022

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TORONTO, Dec. 21, 2022 /CNW/ - A settlement hearing in the matter of Zhi Cheng Charles Jiang (the "Respondent") was held electronically by videoconference today in Toronto, Ontario before a three-member Hearing Panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA").

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TORONTO, Dec. 21, 2022 /CNW/ - A settlement hearing in the matter of Zhi Cheng Charles Jiang (the "Respondent") was held electronically by videoconference today in Toronto, Ontario before a three-member Hearing Panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada ("MFDA").
The Hearing Panel accepted the settlement agreement dated December 19, 2022 (the "Settlement Agreement"), between Staff of the MFDA and the Respondent as a consequence of which the following sanctions were imposed on the Respondent:
a fine in the amount of $25,000;
costs in the amount of $5,000; and
shall successfully complete the Investment Dealer Supervisors Course offered by the Canadian Securities Institute, or another industry supervision course that is acceptable to Staff of the MFDA within six months of the acceptance of the Settlement Agreement.
A copy of the Settlement Agreement is available on the MFDA website at www.mfda.ca .
During the period described in the Settlement Agreement, the Respondent carried on business in the Markham, Ontario area.

Renren Reports Unaudited Financial Results for the Nine Months Ended September 30, 2022

Retrieved on:

Wednesday, December 21, 2022

PHOENIX, Dec. 21, 2022 /PRNewswire/ -- Renren Inc. (NYSE: RENN) ("Renren" or the "Company"), which operates two US-based SaaS businesses, Chime Technologies Inc.© and Trucker Path Inc.©, today reports its unaudited financial results for the nine months ended September 30, 2022 for informational purposes only.

Key Points:

PHOENIX, Dec. 21, 2022 /PRNewswire/ -- Renren Inc. (NYSE: RENN) ("Renren" or the "Company"), which operates two US-based SaaS businesses, Chime Technologies Inc.© and Trucker Path Inc.©, today reports its unaudited financial results for the nine months ended September 30, 2022 for informational purposes only.
The Company will not host a conference call regarding its unaudited financial results for the nine months ended September 30, 2022.
These non-GAAP financial measures are not intended to be considered in isolation from, or as a substitute for, the financial information prepared and presented in accordance with GAAP.
For more information on these non-GAAP financial measures, please see the table captioned "Reconciliation of non-GAAP results of operations measures to the comparable GAAP financial measures" at the end of this release.