Today, Northwest Biotherapeutics (OTCQB:NWBO) filed a lawsuit against some of the largest and most influential market makers in the world, including Citadel Securities LLC, Canaccord Genuity LLC, G1 Execution Services LLC (a subsidiary of Susquehanna International Group), GTS Securities LLC, Virtu Americas LLC (including Knight Securities), Instinet LLC, and Score Priority Corp, alleging repeated manipulation of the company’s stock over five years.
Northwest Biotherapeutics, a clinical stage biotechnology company focused on the development of DCVax(R) personalized cancer vaccines, is alleging that these market makers have been engaging in a deceptive market manipulation tactic known as spoofing, which involves placing huge quantities of sell orders to fool the market into devaluing the company’s stock so the market makers can buy at a lower price. The market makers then immediately cancel the sell orders so they can reap profits, in this case to the dismay of current and future cancer patients, as well as at the expense of Northwest Biotherapeutics and its investors. This alleged illegal trading behavior has made it significantly more difficult for the company to raise the funds necessary to bring their cancer treatment to market, where the company believes it has the potential to extend the lives of thousands of patients.
“It’s already underhanded to engage in market manipulation, but to do so at the expense of cancer patients, some of whom have no other treatments to place their hopes on, is unconscionable,” said Laura Posner, Partner at Cohen Milstein Sellers & Toll PLLC. “We’re looking forward to holding these market makers responsible for the harm they have caused, and bringing critical and necessary transparency to these markets.”
Based on the detailed data presented in the complaint, one of the most egregious examples of this behavior occurred on May 10, 2022, at the very moment the topline breakthrough results of the Phase 3 clinical trial of DCVax-L to treat glioblastoma, the most common and aggressive form of brain cancer, were being announced at the prestigious New York Academy of Sciences medical conference. Despite the presentation of significant positive data, the company alleges that during and after the announcement the defendants engaged in extensive spates of spoofing, forcing the company’s stock price down. In a market free from manipulation, the market response should have been strongly positive, not dramatically negative, in response to the positive news. Instead, the result was a $1.6 billion loss in market cap, with the share price dropping from the $2.05 high on May 9 to a low of 36.4 cents on May 10, 2022-a staggering decline of 82%.
Earlier this month, Northwest Biotherapeutics announced the results of this innovative clinical trial for DCVax-L in the prestigious JAMA Oncology journal in a peer reviewed article authored by over 70 brain surgeons and oncologists. The trial results showed that the vaccine was associated with a statistically significant and clinically meaningful life extension for the first time in many years in both newly diagnosed and recurrent glioblastoma, with the potential to more than double 5-year survival, and with almost no serious adverse event side effects. The company believes that this breakthrough vaccine technology may also pave the way for treatments in patients suffering from multiple types of solid tumor cancers.
The spoofing episodes against the company are alleged to have taken place repeatedly over a nearly five-year stretch, sometimes multiple times a day. Northwest Biotherapeutics alleges that it sold over 49 million shares at manipulated and devalued prices as a result of the market makers’ actions. The company believes that the market makers directly impacted the price of Northwest Biotherapeutics’ shares in the market by repeatedly and brazenly manipulating the market through their spoofing, causing Northwest Biotherapeutics to suffer significant losses as it sold millions of shares at artificially depressed prices and was slowed in bringing its encouraging drugs to market.
Northwest Biotherapeutics is represented by national law firm Cohen Milstein Sellers & Toll PLLC.
Tess Roy, firstname.lastname@example.org, 561-596-6443
About Northwest Biotherapeutics
Northwest Biotherapeutics, Inc is a clinical-stage biotechnology company specializing in developing cutting-edge cancer vaccines that are designed to treat a wide range of solid tumor cancers more effectively than the current treatments on the market and without the side effects of chemotherapy. The company has a broad platform technology for DCVax(R) dendritic cell-based vaccines, including DCVax(R)-L for operable tumors and DCVax(R)-Direct for inoperable tumors. The company’s proprietary manufacturing technology allows efficient and cost-effective production of these innovative vaccines, with the full set of multi-year doses produced in one manufacturing batch and then stored frozen in single doses, making the treatment “off the shelf” throughout the treatment regimen while also being fully personalized. https://nwbio.com/
About Cohen Milstein Sellers & Toll
Cohen Milstein Sellers & Toll PLLC is recognized as one of the premier law firms in the country handling major, complex plaintiff-side litigation. With more than 100 attorneys, Cohen Milstein has offices in Washington, D.C.; Chicago, Ill.; New York, N.Y.; Palm Beach Gardens, Fla.; Philadelphia, Pa.; and Raleigh, N.C. For additional information, visit www.cohenmilstein.com or call 202.408.4600.
Statements made in this news release that are not historical facts, including statements concerning future treatment of patients using DCVax and future clinical trials, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “expect,” “believe,” “intend,” “design,” “plan,” “continue,” “may,” “will,” “anticipate,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. We cannot guarantee that we actually will achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. Actual results may differ materially from those projected in any forward-looking statement. Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated, such as risks related to the Company’s ability to achieve timely performance of third parties, risks related to whether the Company’s products will demonstrate safety and efficacy, risks related to the Company’s ongoing ability to raise additional capital, and other risks included in the Company’s Securities and Exchange Commission (“SEC”) filings. Additional information on the foregoing risk factors and other factors, including Risk Factors, which could affect the Company’s results, is included in its SEC filings. Finally, there may be other factors not mentioned above or included in the Company’s SEC filings that may cause actual results to differ materially from those projected in any forward-looking statement. The Company assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by securities laws.
For the first time in three years the Asia Video Industry Association (AVIA) returned to Jakarta to host Indonesia in View 2022, an event that welcomed some of the industry’s biggest players for a day of discussions dissecting the opportunities for growth in this expansive market.
Opening comments were made by Yuliandre Darwis, Commissioner with the Indonesian Broadcasting Commission (KPI) who talked about the development of the KPI over the last twenty years, and the hope for revisions to the broadcasting law which could see greater responsibilities given to them.
Highlights of the Indonesia in View Report, to be published by AVIA, were given by Bettina Cavenagh, President Director, Clarity Research Indonesia, outlining the state of Indonesia’s video markets in the post-pandemic economy. Pay television had plateaued and while DTH services were the biggest victims of increased broadband penetration, cable numbers were increasing meaning the overall pay TV market remained significant, even if ARPU’s were under pressure. But all eyes were now on the premium OTT market. Subscription Video on Demand (SVOD) has grown by more than 50% from 2020 to 2021, to 11.5M subscribers, while digital advertising grew by 33% over the same period. This set the scene for much debate throughout the conference on the relative merits of the subscription versus the advertising led business model for OTT.
In a conversation around growth and monetization, Hermawan Sutanto, COO of Vidio talked of the need to educate the market to pay for premium OTT services and Guntur Siboro, Country Head for Lionsgate Play further made the point that ad supported VOD (AVOD) was a different ballgame which required significant investment to monetise successfully. Whatever the business model, Avijit Duta, Deputy Country Manager for Viu, emphasized the need for the business to be sustainable and everyone was witnessing rising production costs as the production talent pool was still limited today.
In his keynote conversation, Sutanto Hartono, Managing Director of EMTEK and CEO of SCM and Vidio, discussed Vidio’s emphasis on local originals and live sports as differentiators in their quest to acquire customers and keep churn down. While sports rights were expensive and not owned in perpetuity, they played a crucial role in a growth strategy. Marlo Budiman, CEO & President Director, Link Net, later added that while the pay TV market had plateaued, its death knell had not quite sounded yet and also attributed this to the role of sports and original content keeping OTT churn low.
Clarissa Tanoesoedibjo, Managing Director of MNC’s Vision+, also talked about the importance of local original content and that Vision+ was increasing their investment in this sector for the service. She also pointed out that while Vision+ was primarily subscription led, the accompanying RCTI+ service was advertising led.
There was little doubt about the importance advertising played in the growth prospects for the market when Gavin Buxton, Managing Director, Asia for Magnite, Florencia Eka, Country Manager, Client Services, for The Trade Desk, and Lesley Simpson, Country Manager for WeTV and iflix Indonesia, got together. They agreed that OTT was the natural evolution of TV and provided unique opportunities for digital advertisers given the engagement with viewers. And while fragmentation of services was an issue, it was clear that there was more than enough scale in premium OTT as they looked forward to sustained growth in the sector.
Indonesia in View is generously sponsored by Gold Sponsors A+E Networks, Vidio and Vision+ and Silver Sponsors Akamai, Broadpeak, CDNetworks, Conviva, INVIDI, Irdeto, NAGRA, SES, TV5MONDE and YouTube.
About the Asia Video Industry Association
The Asia Video Industry Association (AVIA) is the trade association for the video industry and satellite ecosystem in Asia Pacific. It serves to make the video industry stronger and healthier through promoting the common interests of its members. The AVIA is the interlocutor for these industries with governments across the region, leads the fight against video piracy through its Coalition Against Piracy (CAP) and provides insight into the video industry through reports and conferences aimed to support a vibrant video industry.
For media enquiries and additional background, contact:
Head of Marketing and Communications
Topic: Press release summary
As the world progressively leaves the pandemic behind, Taiwan’s Ministry of Economic Affairs (MOEA) has joined hands with Taiwan’s Bureau of Foreign Trade and Taiwan External Trade Development Council (TAITRA) to ride the waves of the new era with the Taiwan Food World GO Project.
The inaugural event was held at the Hilton Singapore Orchard yesterday and was live-streamed simultaneously across three countries – Korea Republic, Vietnam and Malaysia.
The Taiwan Food World GO Project global event is an NT$200-million (US$6.67 million) project which incorporates a series of marketing activities, through the assistance in funding, international certifications and professional advice, to help Taiwan food manufacturers penetrate overseas markets.
With the Chinese market taking up the majority of Taiwan food product sales, Taiwan plans to diversify its markets further, eyeing increased market shares in Asian, North American, European and Oceanian markets to raise export volumes, with MOEA and TAITRA hoping that this project will help Taiwanese food manufacturers reach up to 50,000 overseas consumers.
The following companies showcased their popular products during the launch event:
– Assam Milk Tea
– Earl Grey Milk Tea
– Cold Brew Fragrant Green Tea
– Cold Brew Black Tea
– Four Treasures
Tai Yang Tang
– Tai Yang Biscuits
Shu Lin Biscuit
– Lins Handmade Cookies
– Hua Diao Wine Chicken Noodles
– Lychee Fruit Beer
Du Hsiao Yue
– Pork Sauce
– Black Fungus Drink
– Taiwan Series Drip Coffee
– Musician Series Drip Coffee
– World Finest Drip Coffee Bundle
Sunny Hills Delights
– Pineapple Cake
– French Cookies
– Mixed Congee
– Oatmeal with Chestnut
– Pineapple Nougat with Biscuit
San Shu Gong
– Mango Jelly
Hurng Fur Foods
– Brown Sugar Soft Flour Cake
Ms. Cynthia Kiang, Director General, Bureau of Foreign Trade, MOEA, said, “Taiwanese food, especially our iconic pineapple cakes and bubble milk tea, has always been loved by foreigners. These signature food products are the national food icon of Taiwan, and a must-buy for tourists. With the residual pandemic restrictions still in place, the “Taiwan Food World GO Project” will provide an avenue for everyone around the world to have access to Taiwan’s food products, safely and healthily.”
Following the kick-off event, TAITRA will be running a food fair in local Prime Supermarket outlets and a four-day FHA – Food & Beverage event at Singapore Expo Hall, in September 2022, featuring a wide variety of innovative food products from 24 different Taiwanese food manufacturers.
PRecious Communications for TAITRA
Tel: +65 6303 0567
Taiwan External Trade Development Council
Taiwan Trade Center, Singapore
Anna Wu – Chief Representative Officer
Tel: +65 6235 0369
Topic: Press release summary
Continuum Market, CaNectar and Brad Turner present #NFTStreetFair on May 28 to share our NFT economic explosions via vendor booths, two stages, digital innovation immersive experiences, IRL + Webinar livestream, and more than a metaverse. Meet the best in blockchain NFT economy at the City of Arts Costa Mesa in California, alongside investors and subject matter experts happy to share their knowledge.
Join us on Saturday, May 28, at 10:00 a.m. PST for the full day event. Friday night VIP cocktail party with gift bag, food and open bar deal flow networking access can be purchased at the link below. Throughout the event, we’ll discuss what a Non-Fungible economy really means to American consumers as you’re exposed to legendary educational material that is a gravitational gateway to the normal human starting to understand the Web3 space.
Download the NFT Street Fair App (https://apps.apple.com/us/app/canectar/id1605656726) today to begin networking with registered attendees, exhibitors, and investors. Upgrade your ticket for VIP experiences (bit.ly/39DhYWM), including our exclusive Title Sponsor Party Bus. Host 25 of your guests in the exclusive upstairs lounge and present your NFTs on three large monitors while you network with VIP NFT deal flow.
Multiple hands-on opportunities and perks await you as you’re ushered through this plethora of artist ownership possibilities in a familiar street fair setting. Our Main Stage offers formal education and speaking appearances from some of the biggest names in the industry. Our Community Stage offers all our brands bandwidth to share their vision of the Web3 Future. Immersive experiences, Pitch Competitions, and amazing speakers compete with the array of vendor booth presentations. Come hungry, we’ll offer Food Trucks and a few other edible surprises as we network, dance, and experience NFTs into the night.
Social Media giveaways and global audience broadcasting rewards can be won by following @NFTStreetFair, creating a content (pic/tweet/video), and tagging #NFTStreetFair @NFTStreetFair. We’ll be sharing more things you can do to win prizes, airdrops, swag, discounts, metaverse, and more!
Apply to participate as Speaker in a panel or presentation, become an investor judge or company raising capital at our Pitch competition, exhibit at our vendor booths, sales funnels, marketing partners, and volunteers. VIP Dealflow, Accredited Investors, and Webinar registration purchase information can be found at bit.ly/39DhYWM. For customer service, please email email@example.com.
See you at the NFT Street Fair on Saturday, May 28! Non-Fungible Tokens are all 1 of 1 unique snowflakes, and we can prove it! #BlockchainIsMyChoice for #NFTStreetFair.
Topic: Press release summary
“A big cyber scam of Fake Packers and Movers is flourishing through online platforms. On a daily basis, hundreds of customers’ complaints are lodged regarding loots and robbery of household possessions owing to negligence in the identification of Original Moving Brand on the popular search engines. Recently, a 40 years old interior designer, who moved from Delhi to Bangalore, became the victim of a Moving Scam,” said a police official.
As per the previous report & FIRs, Fake ads and websites are running on Google and are getting business in the name of a well-known moving company – Agarwal Packers and Movers Ltd., and are stealing the hard-earned goods of customers by claiming themselves as Original Agarwal Packers and Movers. They have previously also cheated several customers across the country.
According to the Interior designer Ms. Swati, last month, when she was planning to move to Bangalore, she Googled for contact details of Agarwal Packers and Movers and clicked on the first advertisement. She called the phone number mentioned over there and the person named Mr. Lalit took the call and after negotiations finalized the deal. Just before her departure day, the team of 4 people reached her premises with a truck. They packed and loaded goods in the trucks assuring that the goods will reach Bangalore within 4 days. After reaching Bangalore, she called on the same number and asked for the status of her goods delivery. She was asked for more money to get her goods back. She felt suspicious and made a written complaint on APML customer care ID with all the booking details. She got reverted on the same day that the details provided by her are not associated with them. When she called on the number mentioned on the email id, she was assisted by customer support that many fake players are operating in their name. Lastly, she lodged police complaints about the matters but all efforts were in vain. This is not a single case; hundreds of customers are duped by Fake packers and Movers daily.
On being asked, APML spokesperson said, “It is agonizing to hear the customer’s plea about losing their hard-earned goods daily. They are doing their best whatever they can do to clear this mess and for this; they are running awareness campaigns in the leading newspapers, electronic media, social media handles, and other online platforms to spread awareness among the general masses regarding the Original Agarwal Packers.” Also, they have a Beware of Fraudster page on their official website mentioning pre-alert guidelines and previous scams running on their brand name.