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Diesel Machine Parts Unveils Strict Testing for ISX15 Turbos

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Press Release updated: Aug 26, 2020 10:00 PDT


Diesel Machine Parts, a company that sells diesel turbos and similar products, recently unveiled the testing process for their ISX15 turbos. This process uses stringent testing to ensure that the turbos are capable of peak performance before offering them for sale. 

Among North America’s most popular heavy-duty engines, the Cummins ISX15 is popular for many reasons. Fuel economy, durability, and operating costs are some of the focal points of the engine. As of this writing, the Cummins ISX15 is the only engine that every major Class 8 truck manufacturer offers as an option. 

Diesel Machine Parts testing calibrates the actuator to the turbos. This is specifically done to ensure that the engine operates at a higher level of efficiency. Calibration of the actuator to the turbos is specific to Diesel Machine Parts. 

To perform this task, Diesel Machine Parts utilizes an “EI-30” machine from Erbessd Instruments. With a variable speed control DC motor, adjustable pulley position, and soft bearing suspension, this general purpose balancing machine helps turbos to reach a high-quality grade. Balancing turbos is done with a “CORE BALANCER CMT-48 VSR BIG TWIN.”

“The last thing anyone should have to do is settle for their turbo. Turbos are a significant investment. No one wants to buy one and then have to get it maintained often, or even have to get a new one soon after. We know how expensive it can be, so that’s why we make sure that before a turbo is offered for sale, it’s as great as it can be. Our testing may be the most stringent and rigorous, but that’s how it should be. The truth is that only the most stringent testing is good enough. Only once a turbo has reached and met our standards is it good enough to be made available to our customers. That’s true of our turbos as well as the other products we offer as well,” said Cristian Camargo of Diesel Machine Parts. 

In addition to turbos, Diesel Machine Parts offers diesel fuel pumps, rebuilt diesel injectors, and similar products. 

For more information about the Cummins ISX15 turbo, rebuilt diesel injectors, or to make a press inquiry, contact Diesel Machine Parts at (844) 343-7350 https://dieselmachineparts.com/

Source: Diesel Machine Parts

Source: https://www.newswire.com/news/diesel-machine-parts-unveils-strict-testing-for-isx15-turbos-21184987

Press Releases

SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Evolus, Inc. of Class Action Lawsuit and Upcoming Deadline – EOLS

NEW YORK, Dec. 3, 2020 /PRNewswire/ — Pomerantz LLP announces that a class action lawsuit has been filed against certain officers of Evolus, Inc. (“Evolus” or the “Company”) (NASDAQ: EOLS). The class action, filed in United States District Court for the Southern District of New York, and…

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NEW YORK, Dec. 3, 2020 /PRNewswire/ — Pomerantz LLP announces that a class action lawsuit has been filed against certain officers of Evolus, Inc.  (“Evolus” or the “Company”) (NASDAQ: EOLS).  The class action, filed in United States District Court for the Southern District of New York, and docketed under 20-cv-09053, is on behalf of a class consisting of all persons other than Defendants who purchased or otherwise, acquired Evolus securities between February 1, 2019 and July 6, 2020, both dates inclusive (the “Class Period”), seeking to recover damages caused by Defendants’ violation of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder, against the Company and certain of its top officials.

If you are a shareholder who purchased Evolus securities during the class period, you have until December 15, 2020, 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 [email protected] or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased. 

[Click here for information about joining the class action] 

Evolus is a Delaware corporation headquartered in Newport Beach, California.  The Company operates as a medical aesthetics company, and develops, produces, and markets clinical neurotoxins for the treatment of aesthetic concerns.  Evolus’ sole product is Jeuveau™, which is a purified botulinum toxin indicated for the temporary improvement in the appearance of moderate to severe frown lines in adults.  As such, Evolus directly competes with Botox®, which is manufactured by Allergan plc and Allergan Inc. (“Allergan”) and distributed by Medytox Inc. (“Medytox”).  Botox® has been the gold standard of the industry since its approval by the U.S. Food and Drug Administration (“FDA”) more than two decades ago.

Beginning in February 2019, Evolus embarked on a public campaign to hype the market right before the commercial launch of its sole leading product Jeuveau™.  To secure an aggressive growth and rapid influx of revenue, Defendants disseminated dozens of public statements in which they promoted Jeuveau™ as a proprietary formulation of the botulinum toxic type A complex, purportedly developed by Korean bioengineering company Daewoong through years of clinical research and millions of dollars’ worth of investment in research and development.  Among other things, Evolus promised investors that it would attain the number two U.S. market position within twenty-four months of launch.

The complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading because they misrepresented and failed to disclose the following adverse facts pertaining to the Company’s business, operations, and prospects, which were known to Defendants or recklessly disregarded by them.  Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the real source of botulinum toxin bacterial strain as well as the manufacturing processes used to develop Jeuveau™ originated with and were misappropriated from Medytox; (ii) sufficient evidentiary support existed for the allegations that Evolus misappropriated certain trade secrets relating to the botulin toxin strain and the manufacturing processes for the development of Jeuveau™; (iii) as a result, Evolus faced a real threat of regulatory and/or court action, prohibiting the import, marketing, and sale of Jeuveau™; which in turn (iv) seriously threatened Evolus’ ability to commercialize Jeuveau™ in the U.S. and generate revenue; and (v) any revenues generated from the sale of Jeuveau™ were based on Evolus’ unlawful activities, including the misappropriation of trade secrets and secret manufacturing processes belonging to Allergan and Medytox.

The investing public learned the truth about Jeuveau™ on July 6, 2020, when the U.S. International Trade Commission (“ITC”) issued its Initial Final Determination in a case brought by Allergan and Medytox against Evolus, alleging that Evolus stole certain trade secrets to develop Jeuveau™.  Coming as a great surprise to unsuspecting investors, the ITC Judge found that Evolus misappropriated the botulinum toxin strain as well as the manufacturing processes that led to its development and manufacture.  Additionally, the ITC Judge recommended a ten-year-long ban on Evolus’ ability to import Jeuveau™ into the U.S. and a ten-year-long cease-and-desist order preventing Evolus from selling Jeuveau™ in the U.S.

This news caused a precipitous and immediate decline in the price of Evolus shares, which fell 37% over the course of two trading days, to close at $3.35 per share on July 8, 2020, on unusually high trading volume.  Following the news of the ITC’s Initial Final Determination and the subsequent price drop of Evolus’ common shares, several securities analysts downgraded Evolus’ rating and significantly lowered the Company’s price target.

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
[email protected] 
888-476-6529 ext. 7980

SOURCE Pomerantz LLP

Related Links

www.pomerantzlaw.com

Source: https://www.prnewswire.com:443/news-releases/shareholder-alert–pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-evolus-inc-of-class-action-lawsuit-and-upcoming-deadline—eols-301185458.html

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SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Intercept Pharmaceuticals, Inc. of Class Action Lawsuit and Upcoming Deadline – ICPT

NEW YORK, Dec. 3, 2020 /PRNewswire/ — Pomerantz LLP announces that a class action lawsuit has been filed against Intercept Pharmaceuticals, Inc. (“Intercept” or the “Company”) (NASDAQ: ICPT) and certain of its officers. The class action, filed in United States District Court for the…

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NEW YORK, Dec. 3, 2020 /PRNewswire/ — Pomerantz LLP announces that a class action lawsuit has been filed against Intercept Pharmaceuticals, Inc.  (“Intercept” or the “Company”) (NASDAQ: ICPT) and certain of its officers.  The class action, filed in United States District Court for the Eastern District of New York, and docketed under 20-cv-05377, is on behalf of a class consisting of all persons other than Defendants who purchased or otherwise, acquired Intercept securities between September 28, 2019 and October 7, 2020, both dates inclusive (the “Class Period”), seeking to recover damages caused by Defendants’ violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder, against the Company and certain of its top officials.

If you are a shareholder who purchased Intercept securities during the class period, you have until January 4, 2021, 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 [email protected] or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased. 

[Click here for information about joining the class action] 

Intercept is a biopharmaceutical company that focuses on the development and commercialization of therapeutics to treat progressive non-viral liver diseases in the U.S.

Intercept’s lead product candidate is Ocaliva (obeticholic acid (“OCA”)), a farnesoid X receptor agonist used for the treatment of primary biliary cholangitis (“PBC”), a rare and chronic liver disease, in combination with ursodeoxycholic acid in adults.  The Company is also developing OCA for various other indications, including nonalcoholic steatohepatitis (“NASH”).

In 2016, the U.S. Food and Drug Administration (“FDA”) granted accelerated approval of Ocaliva for treating PBC.

Then, in late 2017, both Intercept and the FDA issued warnings concerning the risk of overdosing patients with the drug, and multiple reports of severe liver injuries and deaths linked with its use.

Despite these concerns, Defendants continued to tout Ocaliva sales and purported benefits, and its potential indication for treating various other medical conditions.  For example, just two years later, in September 2019, Intercept submitted a New Drug Application (“NDA”) to the FDA for OCA to treat patients with liver fibrosis due to NASH.

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) Defendants downplayed the true scope and severity of safety concerns associated with Ocaliva’s use in treating PBC; (ii) the foregoing increased the likelihood of an FDA investigation into Ocaliva’s development, thereby jeopardizing Ocaliva’s continued marketability and the sustainability of its sales; (iii) any purported benefits associated with OCA’s efficacy in treating NASH were outweighed by the risks of its use; (iv) as a result, the FDA was unlikely to approve the Company’s NDA for OCA in treating patients with liver fibrosis due to NASH; and (v) as a result of all the foregoing, the Company’s public statements were materially false and misleading at all relevant times.

On May 22, 2020, Intercept reported that the FDA “has notified Intercept that its tentatively scheduled June 9, 2020 advisory committee meeting (AdCom) relating to the company’s [NDA] for [OCA] for the treatment of liver fibrosis due to [NASH] has been postponed” to “accommodate the review of additional data requested by the FDA that the company intends to submit within the next week.”

On this news, Intercept’s stock price fell $11.18 per share, or 12.19%, to close at $80.51 per share on May 22, 2020.

On June 29, 2020, Intercept issued a press release announcing that the FDA had issued a Complete Response Letter (“CRL”) rejecting the Company’s NDA for Ocaliva for the treatment of liver fibrosis due to NASH.  According to that press release, “[t]he CRL indicated that, based on the data the FDA has reviewed to date,” the FDA “has determined that the predicted benefit of OCA based on a surrogate histopathologic endpoint remains uncertain and does not sufficiently outweigh the potential risks to support accelerated approval for the treatment of patients with liver fibrosis due to NASH.”  The press release further advised, among other things, that the “[t]he FDA recommends that Intercept submit additional post-interim analysis efficacy and safety data from the ongoing REGENERATE study in support of potential accelerated approval and that the long-term outcomes phase of the study should continue.”

On this news, Intercept’s stock price fell $30.79 per share, or 39.73%, to close at $46.70 per share on June 29, 2020.

Then, on October 8, 2020, news outlets reported that Intercept was “facing an investigation from the [FDA] over the potential risk of liver injury in patients taking Ocaliva, [Intercept’s] treatment for primary biliary cholangitis, a rare, chronic liver disease.”

On this news, Intercept’s stock price fell $3.30 per share, or 8.05%, to close at $37.69 per share on October 8, 2020.

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
[email protected] 
888-476-6529 ext. 7980

SOURCE Pomerantz LLP

Related Links

www.pomerantzlaw.com

Source: https://www.prnewswire.com:443/news-releases/shareholder-alert–pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-intercept-pharmaceuticals-inc-of-class-action-lawsuit-and-upcoming-deadline—icpt-301185456.html

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Leumi Named 2020 Bank of the Year in Israel by The Banker

TEL AVIV, Israel, Dec. 3, 2020 /PRNewswire/ — Bank Leumi (TASE: LUMI) has been awarded Bank of the Year in Israel for 2020 by the prestigious magazine The Banker, part of the Financial Times Group. This is the third consecutive time and the ninth time in total that Leumi has won the…

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TEL AVIV, Israel, Dec. 3, 2020 /PRNewswire/ — Bank Leumi (TASE: LUMI) has been awarded Bank of the Year in Israel for 2020 by the prestigious magazine The Banker, part of the Financial Times Group. This is the third consecutive time and the ninth time in total that Leumi has won the distinguished title. Leumi was selected by a professional panel of judges who examined the Bank’s financial results, business achievements, investment in technology, strategic initiatives and response to COVID-19.

“Congratulations to Bank Leumi for scooping the accolade for Israel in The Banker‘s Bank of the Year Awards 2020,” says Joy Macknight, managing editor of The Banker. “In addition to the bank’s strong performance during a tumultuous period, Bank Leumi’s quick and innovative response to the COVID-19 pandemic, including launching a completely digital mortgage process, impressed the judges. It clearly demonstrates that the efforts and resources the bank has made in its digital transformation are reaping results.”

Leumi President & CEO, Hanan Friedman said: “The win is further acknowledgement of the professionalism and dedication of Leumi’s employees, and their commitment to providing the best response to our customers’ needs even in the complex environment in which we operate. As COVID-19 started to spread in early 2020, Leumi was determined to provide a continuous response to all of our customers’ need. In this context, it swiftly migrated to working remotely on all fronts. Our main goal was to allow customers to perform complex transactions from home, even during lockdown. The new reality led to a leap in digital adoption across all customer segments, even by those considered to be non-digital oriented. As such, our ‘Total Digital Mortgage’ service was embraced by many customers, providing Leumi clear competitive edge. Prior to COVID-19, we prepared Leumi for tomorrow’s banking, but the pandemic has significantly shortened the transition period. We have swiftly adapted our operating model in terms of customer experience, technological capabilities and banker skills, in order to maintain Leumi’s position at the forefront of Israeli banking”.

Bank Leumi (TASE: LUMI) is Israel’s leading banking corporation, providing comprehensive financial services and holding an approximate 30% domestic market share. Headquartered in Tel Aviv, Leumi has a presence in key financial centers such as London and New York. For the quarter ended September 30 2020, Leumi reported a net profit of NIS 750 Million ($218 million), with total assets reaching NIS 528.1 billion ($153 billion).

The data in this press release has been converted into US dollars solely for convenience purposes, at the representative exchange rate published by the Bank of Israel on September 30, 2020, NIS 3.441.

For more information visit www.leumi.co.il or contact Daphna Golden, VP, Head of Investor Relations, at [email protected].

SOURCE Bank Leumi

Related Links

http://www.leumi.co.il/

Source: https://www.prnewswire.com:443/news-releases/leumi-named-2020-bank-of-the-year-in-israel-by-the-banker-301185508.html

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