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LAWSUITS FILED AGAINST UAVS, MPLN and IQDNX - Jakubowitz Law Pursues Shareholders Claims

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NEW YORK, NY / ACCESSWIRE / April 4, 2021 / Jakubowitz Law announces that securities fraud class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies who purchased shares within the class periods listed below. Shareholders interested in representing the class of wronged shareholders have until the lead plaintiff deadline to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. For more details and to speak with our firm without cost or obligation, follow the links below.

AgEagle Aerial Systems, Inc. (NYSE:UAVS)

CONTACT JAKUBOWITZ ABOUT UAVS:
https://claimyourloss.com/securities/ageagle-aerial-systems-inc-loss-submission-form/?id=14356&from=1

Class Period : September 3, 2019 - February 18, 2021

Lead Plaintiff Deadline : April 27, 2021

The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) AgEagle did not have a partnership with Amazon and in fact never had any relationship with Amazon; (2) rather than correct the public's understanding about a partnership with Amazon, Defendants were actively contributing to the rumor that AgEagle had a partnership with Amazon; and (3) as a result, Defendants' statements about AgEagle's business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Multiplan Corporation F/K/A Churchill Capital Corp. Iii (NYSE:MPLN)

CONTACT JAKUBOWITZ ABOUT MPLN:
https://claimyourloss.com/securities/multiplan-corporation-f-k-a-churchill-capital-corp-iii-loss-submission-form/?id=14356&from=1

Class Period : July 12, 2020 - November 10, 2020

Lead Plaintiff Deadline : April 26, 2021

The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (a) MultiPlan was losing tens of millions of dollars in sales and revenues to Naviguard, a competitor created by one of MultiPlan's largest customers, UnitedHealthcare, which threatened up to 35% of the Company's sales and 80% of its levered cash flows by 2022; (b) sales and revenue declines in the quarters leading up to the Merger were not due to "idiosyncratic" customer behaviors as represented, but rather due to a fundamental deterioration in demand for MultiPlan's services and increased competition, as payors developed competing services and sought alternatives to eliminating excessive healthcare costs; (c) MultiPlan was facing significant pricing pressures for its services and had been forced to materially reduce its take rate in the lead up to the Merger by insurers, who had expressed dissatisfaction with the price and quality of MultiPlan's services and balanced billing practices, causing the Company's to cut its take rate by up to half in some cases; (d) as a result of (a)-(c) above, MultiPlan was set to continue to suffer from revenues and earnings declines, increased competition and deteriorating pricing dynamics following the Merger; (e) as a result of (a)-(d) above, MultiPlan was forced to seek continued revenue growth and to improve its competitive positioning through pricey acquisitions, including through the purchase of HST for $140 million at a premium price from a former MultiPlan executive only one month after the Merger; and (f) as a result of (a)-(e) above, Churchill III investors had grossly overpaid for the acquisition of MultiPlan in the Merger, and MultiPlan's business was worth far less than represented to investors.

Infinity Q Diversified Alpha Fund Institutional Class (NASDAQ:IQDNX)

CONTACT JAKUBOWITZ ABOUT IQDNX:
https://claimyourloss.com/securities/infinity-q-diversified-alpha-fund-loss-submission-form/?id=14356&from=1

Class Period : December 21, 2018 - February 22, 2021

Lead Plaintiff Deadline : April 27, 2021

The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Infinity Q's Chief Investment Officer made adjustments to certain parameters within the third-party pricing model that affected the valuation of the swaps held by the Fund; (2) consequently, Infinity Q would not be able to calculate NAV correctly; (3) as a result, the previously reported NAVs were unreliable; (4) because of the foregoing, the Fund would halt redemptions and liquidate its assets; and (5) as a result, the Prospectuses were materially false and/or misleading and failed to state information required to be stated therein.

Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887

SOURCE: Jakubowitz Law



View source version on accesswire.com:
https://www.accesswire.com/638914/LAWSUITS-FILED-AGAINST-UAVS-MPLN-and-IQDNX--Jakubowitz-Law-Pursues-Shareholders-Claims

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    (Bloomberg) -- Atichanan Pulges first became interested in cryptocurrencies a decade ago when he was an engineering student in Los Angeles. Mining Bitcoin was a way for the Bangkok native to learn about markets and pay his rent.Now back in Thailand after a stint at Goldman Sachs Group Inc., Atichanan is a co-founder of the nation’s largest licensed cryptocurrency exchange. He’s also on the front lines of an intensifying debate over who should be allowed to buy digital assets in Southeast Asia’s second-largest economy.Thailand’s Securities and Exchange Commission, alarmed by a sixfold surge in domestic crypto trading since November, said on April 1 that it would soon require traders to have experience, or take courses or pass an exam. The regulator didn’t finalize a date and opted not to ban local exchanges from accepting clients who didn’t meet minimum-income levels, which had been mulled. Digital-asset proponents including Atichanan argue that too many restrictions will merely drive Thais to unregulated platforms overseas.“The regulator realizes any curbs can’t reverse the tide toward toward digital,” said Atichanan, 33, who co-founded Bitkub in 2018. He said the exchange accounts for about 90% of domestic crypto trading and serves 300,000 customers, figures that Bloomberg has been unable to independently verify.While volumes on Thai crypto exchanges are still small relative to counterparts in countries like the U.S. and South Korea, they’ve been surging in recent months as digital assets including Bitcoin have jumped to all-time highs.Total trading turnover on all local licensed crypto exchanges jumped to 124 billion baht ($3.96 billion) in February from 18 billion baht in November, according to data from the Thai SEC, which only date back to November. Bitkub’s daily turnover of 4.2 billion baht in February reflects an increase of nearly 40% from a month earlier, according to the company’s statistics. A 24-hour turnover figure on March 30 ranked it 124th among more than 300 exchanges worldwide tracked by CoinMarketCap.As in other markets that have experienced a spike in retail trading during the pandemic, crypto activity in Thailand has soared in large part thanks to demand from younger investors. The boom has also been marked by hiccups at local exchange operators, including Bitkub.Both developments have attracted scrutiny from the Thai SEC. In January, the regulator asked Bitkub to submit a plan to address investor complaints about “problematic work systems” that have caused trading outages. A month later, the regulator said it was considering eligibility restrictions for clients of crypto exchanges that include a minimum income of more than 1 million baht. The SEC at its April 1 meeting decided not to impose the income requirement, opting for an education or knowledge program.“Crypto participants, including platform operators and investors, are mostly young and passionate about new technology and decentralization,” Ruenvadee Suwanmongkol, the SEC’s secretary general, said in an interview. “They must realize any financial innovation also has the potential to cause collateral damage to the general public and financial system.”The SEC abandoned its income requirement after gathering feedback from market participants. The borderless and decentralized nature of crypto trading makes such controls difficult to implement, said Poomsiri Dumrongvute, who teaches a financial technology course at Chulalongkorn University in Bangkok.Bitkub has made a similar argument in its feedback to regulators, also noting that stricter curbs could hamper the development of local blockchain technology.Despite the regulatory risk, Bitkub is gearing up for a major expansion. The company plans to double staff to 500 by year-end, introduce its own debit card and open a physical crypto trading outlet in Bangkok to lure new entrants and serve as a meeting place for existing ones, according to Atichanan. Over the longer term, Bitkub has ambitions to gain “unicorn” status, or a private valuation of more than $1 billion.Atichanan said the exchange raised the equivalent of $11 million from investors in three rounds since its establishment, though he declined to comment on the company’s current valuation.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Samsung first quarter profit likely surged 45% on bumper smartphone, appliance sales

    Samsung Electronics Co Ltd likely saw a 45% jump in profit for January-March on robust sales of smartphones, TVs and home appliances, though chip division earnings are seen tumbling after a storm suspended production at its U.S. plant. Operating profit for the South Korean tech giant in the quarter is expected to have climbed to 9.3 trillion won ($8.2 billion), according to a Refinitiv SmartEstimate drawn from 16 analysts. That would mark Samsung's highest operating income level for the first quarter since 2018.