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Published:
16:28 EST, 8 February 2018

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TORONTO (Reuters) – Canadian regulators on Thursday reiterated their call for listed cannabis producers with U.S. businesses to clearly disclose risks of operating there, and warned of potential punishment if U.S. federal anti-marijuana laws are more strictly enforced.

The Canadian Securities Administrators (CSA) staff notice said stricter U.S. enforcement could result in “material consequences for any issuer with U.S. marijuana-related activities, including prosecution and asset seizure.”

The CSA notice, similar to one it issued in October, stopped short of taking any action against listed marijuana producers with U.S. operations.

In January, the U.S. Justice Department rescinded an Obama-era policy that had eased enforcement of federal marijuana laws in states that have legalized the drug. This raised fears that Canadian companies with U.S. operations could be open to prosecution.

The CSA urged marijuana companies to describe their involvement in the U.S. industry and prominently state that the substance is illegal under federal law. It also urged them to “carefully consider” any regulatory actions or changes that would result in changes requiring disclosure obligations.

“The notice reiterates that different exchanges may make their own judgments in the application of their listing requirements,” said Beacon Securities research analyst Vahan Ajamian in an e-mailed note. “Bottom line: Looks ‘all clear’. These stocks will continue to trade as usual.”

Canada has a national, regulated medical marijuana industry and plans to legalize pot for recreational use by mid-2018.

After the U.S. move in January, the Canadian Securities Exchange, which hosts most of the country’s marijuana producers with U.S. operations, said it had contacted 17 companies to ask them to provide details about risks related to those businesses.

Aphria Inc, Canada’s third-biggest weed producer, which is listed on the primary exchange, last week agreed to sell its minority stake in U.S.-based Copperstate Farms to Liberty Health Sciences, which is listed on the CSE, for C$20 million

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NEW YORK, Feb 08, 2018 (GLOBE NEWSWIRE via COMTEX) —

Pomerantz LLP announces that a class action lawsuit has been filed against Super Micro Computer, Inc. (“Super Micro” or the “Company”)

SMCI, -6.06%

and certain of its officers. The class action, filed in United States District Court, for the Northern District of California, and docketed under 18-cv-00838, is on behalf of a class consisting of investors who purchased or otherwise acquired Super Micro securities, seeking to recover compensable damages caused by defendants’ violations of the Securities Exchange Act of 1934.

If you are a shareholder who purchased Super Micro securities between January 27, 2017, and January 30, 2018, both dates inclusive, you have until April 9, 2018, to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 9980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.

[Click here to join this class action]

Super Micro Computer, Inc. designs, develops, manufactures and sells server solutions based on modular and open-standard architecture. The Company’s products include servers, motherboards, chassis, and accessories.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Super Micro’s financial statements contained accounting errors, including errors with respect to one of the Company’s sales transactions; (ii) as such, the Company’s internal controls were not effective; (iii) Super Micro lacked the capability to timely review and assess the impact of the foregoing issues; and (iv) as a result, Super Micro’s public statements were materially false and misleading at all relevant times.

On August 29, 2017, post-market, Super Micro filed a Notice of Late Filing with the SEC, reporting that the Company “is not in a position to file its Form 10-K for fiscal year ended June 30, 2017 (the “Form 10-K”), in a timely manner because the Registrant cannot complete the Form 10-K in a timely manner without unreasonable effort or expense” and that “[a]dditional time is needed for the Company to compile and analyze certain information and documentation and complete preparation of its financial statements.”

On this news, Super Micro’s share price fell $1.35, or 4.96%, to close at $25.85 on August 30, 2017.

Then, on October 26, 2017, post-market, Super Micro reaffirmed its delay in filing the 10-K, stating that “[i]n connection with the in-process audit of the Company’s financial results for the year ended June 30, 2017, a sales transaction was subject to additional inquiry and review”. Super Micro advised investors that the transaction at issue “was originally recorded as revenue during the quarter ended December 31, 2016. However, prior to review by the Company’s independent auditors and prior to the Company’s public announcement of its results for the quarter, the recognition of revenue was reversed and the revenue was subsequently recognized in the quarter ended March 31, 2017.”

On this news, Super Micro’s share price fell $1.23, or 5.65%, to close at $20.48 on October 27, 2017.

On January 30, 2018, post-market, Super Micro announced that the Company’s “Audit Committee has completed the previously disclosed investigation,” and that “[a]dditional time is required to analyze the impact, if any, of the results of the investigation on the Company’s historical financial statements, as well as to conduct additional reviews before the Company will be able to finalize its Annual Report on Form 10-K for the fiscal year ended June 30, 2017.” Super Micro also announced the resignations of three executives: Wally Liaw, Senior Vice President of International Sales; Phidias Chou, Senior Vice President of Worldwide Sales; and Howard Hideshima, Senior Vice President and Chief Financial Officer (“CFO”).

Following this news, Super Micro’s share price fell $1.83, or 7.4%, to close at $22.83 on January 31, 2018.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com

CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com

Copyright (C) 2018 GlobeNewswire, Inc. All rights reserved.

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Canadian regulators on Thursday reiterated their call for listed cannabis producers with U.S. businesses to clearly disclose risks of operating there, and warned of potential punishment if U.S. federal anti-marijuana laws are more strictly enforced …
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Premchai Karnasuta, the president of Italian-Thai Development Plc (ITD) accused of poaching wildlife in a Kanchanaburi World Heritage sanctuary, should confess to the crime given the solid evidence against him, a senior forensic expert says.

Meanwhile, Prime Minister Prayut Chan-o-cha said no one can help Mr Premchai if he is proven to be guilty as charged.

Pol Gen Jaramporn Suramanee, a forensic expert and former assistant national police chief, said Thursday he was confident evidence against the suspects in the case was solid.

“Therefore, denying [the charges] and fighting the case may be a waste of time. Confessing would be more useful,” Pol Gen Jaramporn said.

He made the remarks after meeting Natural Resources and Environment Minister Surasak Karnjanarat and authorities involved in the arrest of Mr Premchai, accused of poaching in the Thungyai Naresuan sanctuary last weekend.

Gen Surasak said he has set up a committee chaired by the director-general of the Department of National Parks, Wildlife and Plant Conservation to follow up on the case, in parallel with a police investigation.

Mr Premchai, 63, was arrested in the sanctuary on Sunday night along with three others — ITD employee Yong Dodkhruea, 65, of Ratchaburi, Nathee Riamsaen, 43, from Nakhon Ratchasima, and Thanee Thummat, 56, from Kanchanaburi.

They were found with the carcasses of protected wild animals, including a 1.48-metre-long Indochinese leopard, a Kalij pheasant and a common muntjac, also known as a barking deer, as well as three long-barrelled weapons and ammunition.

The four have been granted bail with a bond of 150,000 baht each. They denied the charges.

Pol Gen Jaramporn said evidence includes gunshot wounds to the dead wild animals.

The evidence gathered by forensic officers at the spot where the four suspects camped indicated they were ”well prepared”, Pol Gen Jaramporn said.

Park officials searched the belongings of the four upon their entry into the sanctuary and found no food, except some cooking utensils, salt and chilli paste, Pol Gen Jaramporn said.

He added that forensic officers were checking the carcasses of the animals to determine which type of firearms were used to kill them.

DNA samples, gunpowder residue and fingerprints have also been collected from the campsite and from the four suspects.

The evidence is in perfect condition and will be sent for laboratory analysis, Pol Gen Jaramporn said. He believed the results will pinpoint the wrongdoers.

Addressing the case of Mr Premchai on Thursday, Gen Prayut said anyone found guilty of breaking the law must be punished regardless of who they are. “No one can help, no matter how big they are, if proven to be in the wrong,” Gen Prayut said.

National police chief Chakthip Chaijinda said police will expand their investigation into the case, including the issue involving Mr Premchai and his group obtaining permission to enter the wildlife sanctuary on their previous trips.

Meanwhile, deputy national police chief Srivara Ransibrahmanakul said police are also investigating if there were attempts made to bribe officials during the arrest. A clip has been released to the media in which two men discuss assistance for officials involved in the arrest.

Pol Gen Srivara said that even though there were no witnesses to say who shot the animals, the evidence gathered is solid enough to pursue legal action against the suspects.

An initial check had found five gunshot wounds to the carcass of the leopard.

Anuwong Srichan, a park official, recounted the incident on Sunday night when the suspects were arrested at the camp. Mr Anuwong said he found a cooking pot near the tent where the four camped and the pot contained soup made of the tail of a leopard.

Meanwhile, a source said a retired senior official from the Department of National Park, Wildlife and Plant Conservation was the person who phoned Kanchana Nittaya, director of the Wildlife Conservation Office, to seek permission for Mr Premchai’s group to enter the sanctuary.

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Oladimeji Ramon

The Chairman of Honeywell Group, Oba Otudeko, on Thursday appeared before the Federal High Court in Lagos to testify in an alleged N5.5bn debt recovery suit between his companies and Ecobank Nigeria Limited.

The business mogul appeared in court in response to a subpoena issued on him by Justice Mohammed Idris at the instance of Ecobank.

Counsel for Ecobank, Mr. A.O. Divine, had on Wednesday told the judge that he would be left with no other option but to apply for a bench warrant against Otudeko should the businessman fail to honour the subpoena.

After stepping into the witness box on Thursday, Otudeko quipped that it was his first experience in court, saying “I’m delighted to be here, to see you all in professional practice.”

He told the judge that contrary to the claim by Ecobank he was not evading appearing in court.

He said he was not served with the subpoena.

His lawyer, Mr. Bode Olanipekun, told the judge that having appeared in court and adopted his statement; all was set for Thursday’s proceedings.

But an attempt by Ecobank’s lawyer to quiz Otudeko was cut short by Olanipekun, who objected to his client being asked to introduce himself and state his occupation and qualifications.

“I object to that line of questioning,” Olanipekun said.

He contended that the right of Ecobank’s lawyer during examination-in-chief was limited to the adoption of Otudeko’s written statement.

But Ecobank’s lawyer, Divine, maintained that since Otudeko was in court at Ecobank’s instance, he (Divine) reserved an unfettered right to quiz him.

“The witness in question is our witness. The question I put to the witness, being an introductory question, is allowed under the law, where he lives, works, his qualifications.

“To that extent, I submit that the objection to my line of questioning is pre-emptory,” Divine said.

In a short ruling, however, Justice Idris upheld Olanipekun’s objection, and directed Divine to lead Otudeko to adopt his written statement.

The judge said Otudeko could thereafter be cross-examined by Olanipekun and re-examined by Divine.

Following the ruling, Divine abandoned his tactic, saying, “we have got what we want and we do not want to lead the witness anymore. We hereby apply for his discharge.”

He resisted an attempt by Olanipekun to cross-examine Otudeko to prove that the Managing Director of Ecobank was present at a meeting where it was agreed that Otudeko’s company would pay N3.5bn out of the N5.5bn debt allegedly owed the bank as “full and final payment of the indebtedness.”

Divine maintained that “a witness whose statement was not adopted in court could not be cross-examined.”

The judge subsequently adjourned further proceedings in the matter till February 14, 2018.

Meanwhile, after the court proceedings on Thursday, Otudeko made efforts to avoid being captured on television cameras, positioned by journalists on the court premises.

Stepping out of the courtroom alongside his aides, the business mogul was confronted with a TV camera, which made him to take a detour and attempted to exit the court premises through the rear gates.

But the determined cameraman raced towards the rear gates just in time.

By the time Otudeko and his entourage emerged, the cameraman was already in position.

On sighting him, the business mogul and his entourage stood at a safe distance, while some of the aides later confronted the cameraman demanding, “Why are you doing this?”

A mild scuffle was averted after one of the aides rushed at the camera in a bid to force the cameraman to stop recording the scene.

Otudeko was eventually walked through the gates by his aides who formed a human shield around him and led him to his car.

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An Indianapolis law firm is hoping to advance what’s known as “social entrepreneurship” in central Indiana by bringing together people who want to both generate a profit and improve society with their business endeavors.

While the term social entrepreneurship might sound like just another buzzword at first glance, central Indiana already has several examples, including RecycleForce, the local firm that helps recently incarcerated people transition back into the workforce, and Farm360, a for-profit hydroponic farm that aims to help people access food in urban neighborhoods.

Taft Stettinius & Hollister LLP worked with research and marketing agency Achieve on a study that sought to determine where Marion and surrounding counties stand when it comes to this social entrepreneurship, what people lack in spurring more of the activity and what could help the such endeavors succeed.

The results, released Thursday, show that social entrepreneurs here are struggling for financial resources that prevent them from launching more of these efforts.

Researchers determined that central Indiana needs to create a network of social entrepreneurs and those who want to support them. To that end, Taft and Achieve created a website where people and groups involved in social entrepreneurship can start a network.

“It became obvious that social entrepreneurs rely on themselves for innovative and strategic thinking and enthusiasm for change, but most aren’t in a position to be their own funders, provide or fully grasp their technology needs, run an HR department or market themselves,” said Taft partner Stacia Buechler in written comments. “That’s where a network of support could make a true difference in creating a culture supportive of social entrepreneurs here.”

The concept of social entrepreneurship is becoming more relevant as Millennials take over the workforce. In a 2014 study by Achieve called the “Millennial Impact Report,” 94 percent of Millennials surveyed said they liked using their skills to benefit a cause.

But the study found that the concept locally is an an immature stage “because social entrepreneurs in central Indiana have no established support structures or vehicles for bringing them together.”

“Individuals with a passionate desire to solve social problems are working without the benefit of a network connecting people, resources and ideas,” according to the report. “Events, networking groups, industry awards and overall more discussion about social entrepreneurship in central Indiana can lay the groundwork for a formal structure in which current and emerging social entrepreneurs will engage and thrive.”

The report also called for the business and investor community to start talking about social entrepreneurship—particularly so investors can connect with people who don’t have the capital to get their own ideas off the ground.

“Educating those in the business and civic communities about this rapidly emerging field will help build broader support for the growing community of social entrepreneurs,” according to the report. “This is particularly important for investors, since survey respondents identified a lack of financial support as their single biggest challenge.”

Russell Menyhart, a partner at Taft, said social entrepeneurship is a growing area of interest for businesses and investors.

“The study is based on a hunch that Central Indiana has a special collection of assets that may help it become a regional hub for social entrepreneurship and impact investing,” Menyhart said. “Getting a baseline understanding of the sector helps us drive the conversation going forward.”

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Special Counsel ranked #1 Legal/Litigation Support Staffing Agency and #1 Managed Document Review Services, Parker + Lynch Legal ranked #1 Legal Staffing Provider for Attorneys and D4 ranked #1 End-to-End E-Discovery Provider

ROCHESTER, N.Y. (PRWEB) February 07, 2018

Special Counsel, the nation’s largest full-service provider of legal staffing and eDiscovery solutions, along with its subsidiaries, Parker + Lynch Legal, D4, and Alderson Court Reporting, today announced recognition in seven categories of this year’s Best Of 2018 Awards from The National Law Journal. Together, the brands represent a wide range of comprehensive legal services and support to law firms and in-house legal teams.

Now in its seventh year, The National Law Journal – part of American Law Media – showcases the results from its Best Of readers survey, where readers cast votes for the best providers of services and goods to the legal profession. Readers of the publication are made up of legal industry professionals and members of the in-house legal community, representing professionals who use these services every day.

“We’re incredibly proud of this recognition from The National Law Journal because it represents experts in the legal industry who have worked with our teams and personally chose us as a partner who brings value to the space,” said Laurie Chamberlin, president of Special Counsel. “As we look at the year ahead, we are more committed than ever to expanding and tailoring our services and continuing to provide exceptional support to clients and legal professionals across the nation.”

For more information on Special Counsel, Parker + Lynch Legal, D4 and Alderson, as well as access to workforce resources, information on the legal industry and more, visit http://www.specialcounsel.com, http://www.parkerlynch.com, http://www.d4discovery.com or http://www.aldersonreporting.com.

The National Law Journal’s Best of 2018 Awards are featured in its February 2018 issue.

About Special Counsel

Established in 1987, Special Counsel is the nation’s largest full-service provider of legal staffing and eDiscovery solutions. Our reputation, size and scale combined with local market knowledge give us the distinct advantage in recruiting and retaining skilled legal talent available on a short- or long-term basis. Together with Parker + Lynch Legal, D4 and Alderson, our expertise extends to offering a comprehensive suite of legal professional and executive search, eDiscovery, managed solutions and reporting. For more information, visit http://www.specialcounsel.com.

About Parker + Lynch Legal

Parker + Lynch Legal is the national leader in attorney search and placement and an extension of Special Counsel, the largest full-service provider of legal staffing and eDiscovery solutions in the US. For 30 years, law firms and corporate legal teams have relied on our legal search experts to deliver quality legal talent, from senior-level attorneys to legal technology specialists. Our knowledge of the industry is unparalleled; we know the positions, skill sets and expected compensation packages in your market better than anyone else. For more information on Parker + Lynch Legal, visit http://www.parkerlynch.com.

About D4

D4 is a leading provider of managed data and discovery services to law firms and corporations. D4 offers full-service capabilities with local infrastructure to support litigation, investigations, compliance and other legal matters. The company’s state-of-the-art data centers and global operations are complemented by information governance, electronic discovery, computer forensics and document review offices throughout the USA, China and the UK. Depth of staff, experience and innovative technology allow the company to provide first-class performance worldwide.

D4 was one of the first providers to offer an eDiscovery Managed Services solution, and continues to lead the field in innovation. D4 became part of Special Counsel and the Adecco Group in 2016, enhancing D4’s offerings with Managed Review and streamlined access to legal staffing. Contact D4 at 800.410.7066 or marketing(at)d4discovery(dot)com for more information.

About Alderson Court Reporting

Alderson Court Reporting, a division of Special Counsel, offers a broad selection of court reporting, legal videography, interpretation, transcription, captioning, video conferencing and transcript summarizing services to the legal community. Headquartered in Washington, D.C., Alderson has proudly served law firms, corporations, U.S. Presidents and government agencies since 1938. Alderson provides reporting services for depositions, trials, arbitrations, mediations and more. Whether the need is for a reporter to cover a half day hearing, an interpreter, a real-time reporter or a legal videographer for a multi-day international deposition, clients can count on Alderson to provide the very best professionals and highest level of customer service every time. For more information, visit http://www.aldersonreporting.com.

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For the original version on PRWeb visit: http://www.prweb.com/releases/2018/02/prweb15180042.htm

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