SI Newswire Press Releases https://sinewswire.streetinsider.com/ Latest Press Releases from SI Newswire Heng Ren Gets Renren's Shareholders Their Day in Court - in the U.S. https://sinewswire.streetinsider.com/r/investments/heng-ren-gets-renrens-shareholders-their-day-court-the-us-.707.html <p><a href="http://www.streetinsider.com/SI+Newswire">(SI Newswire)</a> NEW YORK (May 21, 2020) --- The New York State Supreme Court on Wednesday denied a Chinese company’s attempt to block a lawsuit in the U.S. brought against it by shareholder activist Heng Ren and other investors for allegedly shortchanging shareholders more than $500 million in a related-party transaction.</p><p>The lawsuit, In re Renren, Inc. Derivative Litigation (NYSE: RENN), alleges the company’s Chairman, Mr. Joseph Chen, along with former Director David Chao and SoftBank, maneuvered to transfer valuable assets, including a large stake in fintech unicorn Social Finance, Inc. (SoFi), to their Cayman company in a transaction priced at a discount of hundreds of millions of dollars below its estimated value.</p><p>"This is an important message that American investors now are sending to Chinese companies on our stock markets: Don’t tread on me," said Peter Halesworth, founder and manager of Heng Ren. "For too long U.S. shareholders have been getting a raw deal from bad actors from China in our stock markets, without American investors having much recourse to our own courts."</p><p>The ruling, by Justice Andrew Borrok, allows the shareholders’ litigation for breach of fiduciary duty, among other claims, by Chairman Chen and co-defendants to be heard in the Supreme Court of New York instead of in a foreign court. The primary allegation is Renren in 2011 raised more than $750 million in a U.S. initial public offering (IPO) on the New York Stock Exchange (NYSE). Renren then invested these funds primarily in U.S. private companies, including a large stake in SoFi.</p><p>As these investments grew in value, Chairman Chen allegedly sought to engineer corporate transactions to wrest control of these valuable investments from Renren and its U.S. shareholders. In 2018, Renren transferred the assets to a Cayman company controlled by Chen and Chao, at an undervaluation which allegedly shortchanged shareholders by more than $500 million in compensation.</p><p>The plaintiffs in the case include the Heng Ren funds and a fund managed by Oasis Management Company. Renren’s failed motion to dismiss the lawsuit from New York still can be appealed by the defendants. The attorneys for the plaintiffs were Reid Collins & Tsai LLP, Ganfer, Shore, Leeds & Zauderer LLP, Grant &Eisenhofer P.A., and Gardy & Notis LLP.</p> Investments https://sinewswire.streetinsider.com/r/investments/heng-ren-gets-renrens-shareholders-their-day-court-the-us-.707.html Thu, 21 May 2020 07:05:00 -0400 Vantagepoint AI Named Best Place to Work by Tampa Bay Business Journal for the 10th time! https://sinewswire.streetinsider.com/r/investments/vantagepoint-ai-named-best-place-work-by-tampa-bay-business-journal-for-the-10th-time.607.html <p><a href="http://www.streetinsider.com/SI+Newswire">(SI Newswire)</a> Wesley Chapel, FL, Vantagepoint AI, LLC (<a target="_blank" href="http://www.vantagepointsoftware.com">www.vantagepointsoftware.com</a>) has been selected for the tenth time as one of the Best Places To Work in Tampa Bay. Having started as a small, home-based business over 40 years ago, Vantagepoint has grown to become a world leader in providing artificial intelligence software to independent traders. Today, Vantagepoint has created a family of tens of thousands of traders in over 120 countries around the globe, and its Tampa Bay-based team continues to grow in tandem.</p><p>Vantagepoint’s founder, Louis Mendelsohn, was the first person to make strategy backtesting commercially available for independent traders in 1979. The company has stayed on the cutting edge with both its product line and its is workplace culture ever since. With Lane Mendelsohn, Louis’ son, now at the helm, the tradition continues of being part of what makes Tampa a great place to live and work.</p><p>“We are thrilled to be recognized by our employees as a place that cares about them and is dedicated to creating an atmosphere that brings joy, excitement, purpose, passion, and fun to the workplace,” said Vantagepoint President Lane Mendelsohn.</p><p>Along with this award, Vantagepoint has also been recognized by the Business Journal for its philanthropic work. Vantagepoint was one of eleven companies in the Tampa Bay area selected for the ONE Tampa Bay Award. Vantagepoint regularly donates a portion of its revenue to Shriners Hospitals for Children and The Children’s Cancer Center along with donating goods, man/woman power, and monies to a wide variety of local charities. To date, Vantagepoint has donated more than $670,000 to local non-profits.</p><p>Both the ONE and Best Place to Work awards speak to the foundation of Vantagepoint’s culture; not only does the company seek to provide a five-star workplace experience, it is also committed to sharing its success and joy forward with the community.</p><p>“The Tampa Bay area has been the perfect place for our company to put down roots and build our ‘family,’ says Mr. Mendelsohn. “We look forward to staying an integral part of the Tampa Bay business community and a great place to work for generations to come.”</p><p>While Artificial Intelligence is a relatively new concept for most of us, 40 years on Vantagepoint continues to be at the forefront of using it for trading in the financial markets. The company is committed to its own sustainable growth and to evolving its software as they continue to provide a reliable yet vital service to traders. You can learn more about Vantagepoint’s cutting-edge product, superior customer service, and its highly accurate predictive forecasts for the financial markets at <a target="_blank" href="http://www.vantagepointsoftware.com/demo">www.vantagepointsoftware.com/demo</a>.</p><p>Media Contact: Lisa Moretti 813-973-0496 <a target="_blank" href="mailto:lisam@vantagepointsoftware.com">lisam@vantagepointsoftware.com</a></p> Investments https://sinewswire.streetinsider.com/r/investments/vantagepoint-ai-named-best-place-work-by-tampa-bay-business-journal-for-the-10th-time.607.html Tue, 28 Jan 2020 08:00:00 -0500 WES ROBINSON and DRR900306 NS Ltd. Investor Alert https://sinewswire.streetinsider.com/r/investments/wes-robinson-drr900306-ns-ltd-investor-alert.594.html <p><a href="http://www.streetinsider.com/SI+Newswire">(SI Newswire)</a> Regarding the November 7, 2019 Investor Alert posting by the NS Securities Commission, the allegations are denied, and will be tested in due course in a proceeding before the Securities Commission.</p><p>Robinson Capital group of companies is a venture lender/investor, working with entrepreneurs and project owners with strong opportunities that are typically not bankable. We use our own capital.</p><p>Contact Wes Robinson Robinson Capital International Limited Phone: +1 (305) 834-7035 Email: <a target="_blank" href="mailto:wes.robinson.capital@gmail.com">wes.robinson.capital@gmail.com</a> Skype: <a target="_blank" href="http://wes.robinson.capital">wes.robinson.capital</a> FaceTime: <a target="_blank" href="mailto:wes.robinson.capital@gmail.com">wes.robinson.capital@gmail.com</a> LinkedIn: <a href="http://www.linkedin.com/pub/wes-robinson/22/b97/b29" rel="nofollow" target="_blank">http://www.linkedin.com/pub/wes-robinson/22/b97/b29</a> Audio Interview: <a target="_blank" href="https://www.blogtalkradio.com/karen-rands/2019/11/19/compassionate-capitalist-will-share-how-he-created-his-wealth-and-how-he-invests">https://www.blogtalkradio.com/karen-rands/2019/11/19/compassionate-capitalist-will-share-how-he-created-his-wealth-and-how-he-invests</a></p><p># # #</p> Investments https://sinewswire.streetinsider.com/r/investments/wes-robinson-drr900306-ns-ltd-investor-alert.594.html Mon, 13 Jan 2020 15:51:34 -0500 Vantagepoint AI Recognized by FORTUNE®, Great Place to Work®, and Global Excellence https://sinewswire.streetinsider.com/r/investments/vantagepoint-ai-recognized-by-fortune-great-place-work-global-excellence.580.html <p>Wesley Chapel, Florida Vantagepoint AI (vantagepointsoftware.com), the software company that developed the first artificial intelligence (AI) trading software in the world available to retail investors and traders, has been recognized as one of the Top 150 Small and Medium Businesses in the United States by FORTUNE and has been certified nationally for its outstanding culture by Great Place to Work. Concurrently, Vantagepoint has also been recognized by Global Excellence as The Most Innovative Ai-Based Market Forecasting Software Provider. Using patented Intermarket Analysis, Vantagepoint's artificial intelligence finds hidden patterns of influence in the marketplace and helps predict market movements up to 3 days in advance and with up to 86% accuracy. Traders can use the information to plan their trading entries and exits guided by data rather than emotion. Because of the power of AI, traders also can trade more efficiently - most need only 15 minutes a day.</p> <p>Vantagepoint President Lane Mendelsohn said, “As a company, we’ve set a high standard for ourselves. We empower our family of traders with the high value service of our software while also inspiring all parts of our Vantagepoint family to maintain a healthy work/life balance and creating meaningful ways to contribute to our local community. We are thrilled to be recognized for both our culture and our product!”</p> <p>“Small and medium-sized businesses have a tremendous influence on the US economy and workforce,” said Michael C. Bush, CEO of Great Place to Work. “Organizations like Vantagepoint AI have found the key not only for winning top talent against their larger competitors, but also for playing a leadership role in dramatically improving the day-to-day experience of US labor conditions by creating great workplaces where everyone can succeed regardless of who they are or what job they perform.” Great Place to Work is the global authority on workplace culture helping organizations quantify their culture and produce better business results by creating a high-trust work experience for all employees. As the close of 2019 nears, Vantagepoint AI has laid a course for continued success. As a second generation, family-run business, the company has the freedom and agility to grow in ways that reinforce the company’s core values while offering a unique service to traders. The company’s goal is to give traders a tool for creating financial freedom; with its growing base of A-team talent, Vantagepoint is poised for another year of exponential growth and success. See how A.I. is helping change the trading world for independent traders at www.vantagepointsoftware.com/demo</p> <p>About Vantagepoint AI, LLC. Headquartered in Wesley Chapel, Fla., Vantagepoint AI, creator of Vantagepoint Software, is a leader in trading software research and development. VantagePoint forecasts Stocks, Futures, Forex, and ETFs with proven accuracy of up to 86%. Using artificial intelligence, Vantagepoint’s patented Neural Network processes predict changes in market trend direction up to three days in advance, enabling traders to get in and out of trades at optimal times with confidence. Vantagepoint is also actively committed to giving back in the Tampa Bay community, Shriners Hospitals for Children, and The Children’s Cancer Center. To date, Vantagepoint has donated over $670,400 to the community. </p> Investments https://sinewswire.streetinsider.com/r/investments/vantagepoint-ai-recognized-by-fortune-great-place-work-global-excellence.580.html Thu, 05 Dec 2019 13:00:00 -0500 Turing Technlogy's Breakthrough Research Breakthrough Research Uncovers Two 'DNA-Level' Statistics that Investors Need to Know When Selecting Funds https://sinewswire.streetinsider.com/r/investments/turing-technlogys-breakthrough-research-breakthrough-research-uncovers-two-dna-level-statistics-that-investors-need-know-when-selecting-funds.574.html <p><a href="http://www.streetinsider.com/SI+Newswire">(SI Newswire)</a> New York, NY - The challenge of accurately selecting actively managed funds just got easier due to new research recently released from Turing Technology. The research, based on evaluating years’ worth of daily holdings from more than $2.25 trillion in actively managed fund assets, had some paradigm-busting insights into how and where active managers add value – and where they don’t.</p><p><u>First insight, active managers typically add significant value from stock picking, but this skill is limited to their ‘Best Ideas’.</u> We can stop the debate – most managers have skill. But it is only found in their Best Idea – their biggest relative bets versus the benchmark (referred to by Turing as High Conviction Overweight positions, or “HCOs”).</p><p><u>Second, the average fund only allocated 55% of its investment dollars to their Best Ideas.</u> This is the problem, because for the average fund, the single engine of stock selection alpha is operating at only half its potential impact. Before fees. In practice, this under-allocation to HCOs sabotages the average active fund’s ability to outperform, and it has a larger negative impact on performance than fees.</p><p>This research, therefore, highlights two new metrics that provide unprecedented insight into evaluating actively managed funds: 1) the performance of the fund’s HCOs, and 2) the fund’s HCO allocation.</p><p>According to Alexey Panchekha, President of Turing and the author of the study, “This research changed how we think about screening funds. Just like Billy Beane and Moneyball taught us On-Base-Percentage is a better metric to evaluate players than Batting Average, this research shows that HCO performance is more informative than overall Fund performance.”</p><p>For the fund to outperform, the manager’s Best Ideas absolutely must outperform. Evaluating the performance of just the HCOs provides an uncluttered look directly into the manager’s stock picking skills. And if the manager’s Best Ideas deliver value, then common sense says that the bigger the allocation to those stocks the better.</p><p>The numbers from the study prove this theory out. Funds with the best performing HCOs <u>and with at least a 60% HCO allocation</u> delivered an average annual excess return of 455 basis points (4.55%) over rolling one-year periods. Funds with top performing HCOs <u>but with an HCO allocation less than 40%</u>, only delivered 183 basis points (1.83%) in annual excess returns. Both groups succeeded (because their HCOs outperformed), but increasing the HCO allocation from under 40% to over 60% increased investor returns by 2 ½ times.</p><p>Mr. Panchekha added, “Investors should call their fund company and ask for this data. You should know how well the manager’s Best Ideas fared, and how big a part of the fund they are. Even if they do not yet have this information at hand, it is fair to ask. And the HCO allocation is particularly easy to measure.”</p><p>To learn more about Turing Technology or to download a copy of the study, please visit <a target="_blank" href="http://www.turingta.com">www.turingta.com</a>. An edited version of the study was published by the CFA Institute, and can be found at <a target="_blank" href="https://blogs.cfainstitute.org/investor/2019/10/03/the-active-manager-paradox-high-conviction-overweight-positions/">https://blogs.cfainstitute.org/investor/2019/10/03/the-active-manager-paradox-high-conviction-overweight-positions/</a>.</p><p><u><strong>About Turing Technology:</strong></u></p><p>Turing Technology Associates, Inc. (“Turing”) is a technology company that licenses its technology and Intellectual Property to investment management, insurance, brokerage, RIA, and wealth firms to allow them to create and deliver superior investment solutions. Key to Turing’s success are the Hercules Database, Ensemble Active Management (EAM) Portfolios, and Downside Volatility Management (DVM) Portfolios.</p><p>For more information, contact:</p><p>Barry Schwartz</p><p>212-677-8700 x118</p> Investments https://sinewswire.streetinsider.com/r/investments/turing-technlogys-breakthrough-research-breakthrough-research-uncovers-two-dna-level-statistics-that-investors-need-know-when-selecting-funds.574.html Tue, 29 Oct 2019 09:37:10 -0400 Top 5 Esports Stocks You Should Buy Right Now https://sinewswire.streetinsider.com/r/investments/top-5-esports-stocks-you-should-buy-right-now.558.html <p><a href="http://www.streetinsider.com/SI+Newswire">(SI Newswire)</a> Electronic sports, also known as esports, are a type of competition in the form of video games. It’s one of the emerging industries today, which explains why so many people are interested in investing in esports stocks. In fact, the revenue from esports reached $1.1 billion this year. Before you invest in esports stocks, it’s recommended to know which stocks you should buy.</p><p>Below are some of the top esports stocks to buy, as the industry is expected to grow continuously in the coming years.</p><p><strong>1. VanEck Vectors Video Gaming and eSports ETF (ESPO)</strong></p><p>As the first ETF in the esports industry, VanEck Vectors Video Gaming and eSports ETF (ESPO) provide a lot of diversification for investors. ESPO is a great choice for any investors looking to invest into <a target="_blank" href="https://digitalyse.io/should-you-invest-into-the-gaming-industry/">esports stocks</a> as the ETF tracks the performance of video game development, esports, as well as related hardware and software. The diversification allow investors to mitigate the main risks of investing into esports which is the high volatility within the gaming market.</p><p><strong>2. Take-Two Interactive Software (TTWO)</strong></p><p>It’s clear to see why <a target="_blank" href="https://en.wikipedia.org/wiki/Take-Two_Interactive">Take-Two Interactive Software</a> is fast-becoming the leader in this new field of entertainment. This company is behind the franchise of the popular NBA 2K, a basketball video game series that teamed up with the National Basketball Association. Enjoying an online viewership of 243 million, the game is expected to get even bigger in the coming years. TTWO greatly benefits from the hugely successful NBA 2K video game, which is why it deserves to be on top of this list of the top esports stocks today.</p><p><strong>3. Nvidia Corp. (NVDA)</strong></p><p>Nvidia is an American computer game company that designs and produces GPUs for the gaming industry, including chip units used for mobile computing and automotive. Most of the competitive gamers of today rely on the hardware that runs on Nvidia’s chips. In fact, they are the leading provider of hardware used for various esports leagues. As of now, the products of Nvidia remain to be a must for serious gamers, making them one of the top esports stock to invest in 2019.</p><p><strong>4. Activision Blizzard (ATVI)</strong></p><p>Activision Blizzard is another American video game company that is doing quite well in the world of gaming lately. However, the company’s revenue fell during the first quarter of this year. The good news is that the other aspects of the business have grown significantly. For instance, they earned generous revenue from the Overwatch League, a professional esports league organized by Blizzard Entertainment. Recently, they made a deal with <a target="_blank" href="https://www.thewaltdisneycompany.com/">Walt Disney</a>, which saw the revenue jump to 28% during the last quarter. While this might just be a small percentage of the company’s overall revenue, it’s still more meaningful compared to what it was in the previous year.</p><p><strong>5. Electronic Arts (EA)</strong></p><p>Electronic Arts is another developer of blue-chip video games, whose main franchises include the FIFA line of video games, as well as the Madden NFL series. In the previous year, more than 45 million players signed up for the FIFA 18 and FIFA 19. The company is said to be in the process of developing a streaming video game platform that will give gamers the chance to compete worldwide using all sorts of devices. Electronic Arts is planning to offer its popular games on this service, along with other games made by third-party companies, making it somewhat similar to Netflix but in terms of competitive gaming.</p><p> </p><p> </p> Investments https://sinewswire.streetinsider.com/r/investments/top-5-esports-stocks-you-should-buy-right-now.558.html Tue, 06 Aug 2019 06:18:21 -0400 China Automotive Systems (NASDAQ:CAAS) Board Fails to Dismiss Heng Ren Lawsuit https://sinewswire.streetinsider.com/r/investments/china-automotive-systems-nasdaqcaas-board-fails-dismiss-heng-ren-lawsuit-.557.html <p><a href="http://www.streetinsider.com/SI+Newswire">(SI Newswire)</a> BOSTON, Massachusetts -- A Delaware judge denied a China Automotive Systems Inc. (NASDAQ: CAAS) bid to dismiss a breach of fiduciary duty lawsuit brought by U.S. fund manager Heng Ren in the Court of Chancery.</p><p>In January the Boston-based shareholder sued China Automotive and its Board of Directors claiming that its Chairman, Hanlin Chen, and its board failed to properly disclose a 200% raise in cash compensation for the Directors evaluating Chairman Chen’s bid to buy out shareholders and take China Automotive private.</p><p>In his July 17 order the Delaware judge, Vice Chancellor J. Travis Laster, stated, “The complaint alleges systematic governance failures and a pattern of false disclosures designed to conceal them. In this context it is reasonably conceivable that the plaintiffs could obtain damages or another remedy for the alleged misstatements in the (Securities and Exchange Commission filing).”</p><p>The shareholders also claimed the China Automotive board breached its fiduciary duty by misrepresenting in a proxy statement for its 2018 annual meeting the credentials of a Director standing for re-election.</p><p>China Automotive’s subsequent SEC filing that reported the results of the annual meeting also understated the number of votes cast against the incumbent Directors and auditor, according to the shareholder claim. On May 24 China Automotive replaced two of the directors re-elected on December 5, 2018.</p><p>China Automotive has until July 30 to answer the complaint.</p><p>-- END --</p> Investments https://sinewswire.streetinsider.com/r/investments/china-automotive-systems-nasdaqcaas-board-fails-dismiss-heng-ren-lawsuit-.557.html Wed, 17 Jul 2019 11:30:00 -0400 Needham & Company to Host Second Annual Automotive Tech Day, June 4, 2018 https://sinewswire.streetinsider.com/r/investments/needham-company-host-second-annual-automotive-tech-day-june-4-2018.550.html <p><a href="http://www.streetinsider.com/SI+Newswire">(SI Newswire)</a> New York, NY -- Needham & Company will host its Second Annual Automotive Tech Day at its company’s New York Headquarters on June 4, 2018. The day will consist of in-depth panel discussions and presentations on important topics, such as the growth of Advanced Driver Assistance Systems (ADAS), fully autonomous systems, and the advent of electrification and battery management in vehicles, as well as explore the insurance, regulatory, and safety implications of self-driving vehicles.</p><p>Participants will include some of the most prominent public and private C-level management teams, as well as industry experts and consultants in the automotive technology and electrification ecosystems. One-on-one investor meetings with representatives from all of the key players in the space, spanning across Semiconductor/Software companies, Automotive OEMs, Tier 1 suppliers, Battery Management suppliers, Semiconductor Manufacturing, Automotive Consultants, Ride Sharing companies, and innovative private start-ups (V2V, LIDAR, Mapping, AI SW) will be available to qualified investors.</p><p>The Needham Automotive Tech Day is open to clients of Needham & Company by invitation only. For more information, please call (212) 371-8300 or visit <a target="_blank" href="http://www.needhamco.com">www.needhamco.com</a>.</p><p><strong>About Needham & Company</strong></p><p>Needham & Company, LLC, a wholly owned subsidiary of The Needham Group, Inc., is a privately held, full-service investment bank that has focused exclusively on growth companies since its founding 33 years ago. It provides its clients with the resources to achieve their financing and strategic objectives. The Firm has capital raising expertise in IPOs, follow-on public equity offerings, confidentially marketed equity offerings, private placements, mergers and acquisitions, and corporate and venture services (including share repurchases). In addition to investment banking, Needham & Company’s activities include institutional sales and trading, and asset management. To serve its institutional clients, Needham & Company, LLC produces comprehensive equity research on nearly 350 companies in communications and enterprise infrastructure; healthcare; industrial technology; Internet, entertainment and consumer; semiconductors and semiconductor equipment; and software and services; and makes a market in over 600 stocks. The Firm is headquartered in New York City with offices in Boston, MA; Chicago, IL; Menlo Park, CA; and San Francisco, CA. Needham & Company is a member of FINRA & SIPC. For more information, please visit <a target="_blank" href="http://www.needhamco.com">www.needhamco.com</a>.</p><p><strong>Media Contact</strong></p><p>Tucker Hewes, Hewes Communications, Inc.<br />(212) 207-9451<br />tucker@hewescomm.com</p> Investments https://sinewswire.streetinsider.com/r/investments/needham-company-host-second-annual-automotive-tech-day-june-4-2018.550.html Fri, 01 Jun 2018 17:54:54 -0400 VantagePoint Software Now Forecasting Bitcoin and other Cryptocurrencies utilizing Patented A.I. Technology https://sinewswire.streetinsider.com/r/investments/vantagepoint-software-now-forecasting-bitcoin-other-cryptocurrencies-utilizing-patented-ai-technology.544.html <p><a href="http://www.streetinsider.com/SI+Newswire">(SI Newswire)</a> Wesley Chapel, Fla. – VantagePoint Software using patented Artificial Intelligence technology to predict stock market trends and trend changes made the official announcement today that traders can now use the software to forecast Cryptocurrencies.</p><p>As a result of the recent growth in popularity of Cryptocurrencies and the outpouring of requests from current VantagePoint Software users, the VantagePoint R&D team began focusing on adapting the Artificial Intelligence forecasting technology for Cryptocurrencies. Since 1991 VantagePoint has been able to consistently achieve over 80% accuracy in stocks and commodities due to the deep learning neural network technology that has been developed and refined over the past three decades (more information about the use of Artificial Intelligence can be found at <a target="_blank" href="http://www.VantagepointSoftware.com">www.VantagepointSoftware.com</a>).</p><p>After considerable time spent testing and adapting the artificial intelligence to Cryptocurrency data VantagePoint Software has now been forecasting for Bitcoin, Litecoin and Ethereum for some time with the high level of accuracy and consistency that VantagePoint has been known to deliver for stock and commodity traders. But now that Cryptocurrencies are being regulated, the software company has decided to make these forecasts accessible through the VantagePoint software. Regulation was the key to release these forecasts because the family-owned software company wanted to ensure legitimacy before releasing it to traders. “Here at VantagePoint we bring real, tangible opportunities that have been vetted and tested with Artificial Intelligence to traders and investors We are not interested in chasing fads and forecasting financial instruments because of what’s popular. We have criteria for what we forecast for and Cryptocurrencies meet the criteria.” said Lane Mendelsohn, Vice President of VantagePoint Software.</p><p>It’s no secret that Cryptocurrencies are at an all-time high, and the profit potential is huge. VantagePoint’s forecasting indicated earlier this year that these increases were imminent and while many still doubted the potential. Since the VantagePoint forecast Bitcoin has gone up 330%, Litecoin has gone up 467% and Ethereum has gone up 109%. Due to the volatility of the markets, Cryptocurrencies can gain and lose value day over day. With VantagePoint, traders have the upper hand as they are equipped with the ability to forecast the trend direction and predict the next day’s highs and lows before they happen. Even for those who are investing in these crypto currencies as opposed to trading need insight ahead of time as to when these crypto currencies may pull back and may be setting up to crash and knowing this information ahead of time with a high degree of accuracy is paramount.</p><p>It is uncertain what will happen over time for the virtual currency markets, but it does appear that there will be some dramatic movements in the Cryptocurrency market in 2018. Although it is not possible to predict these movements for the upcoming year, traders can get ahead of the curve when they utilize VantagePoint’s proprietary Artificial Intelligence capabilities to predict the market strength and direction of the most popular Cryptocurrencies 1-3 days in advance with up to 86% accuracy.</p><p>For more information about VantagePoint, visit. <a target="_blank" href="http://www.vantagepointsoftware.com">www.vantagepointsoftware.com</a></p><p><strong>About VantagePoint:</strong></p><p>Founded by Louis B. Mendelsohn in 1979, VantagePoint Software Technologies is an Inc. 500 company headquartered in the Tampa Bay area. It is the recognized global leader in market trend forecasting with customers in well over a hundred countries worldwide. VantagePoint Software Technologies develops proprietary trend forecasting and market timing technologies that utilize artificial intelligence and intermarket analysis to forecast commodity and financial markets throughout the world. These include, but are not limited to, stocks, stock indices, ETFs, energies, interest rates, currencies, metals, grains, meats, softs, and Forex, all covering more than 26</p> Investments https://sinewswire.streetinsider.com/r/investments/vantagepoint-software-now-forecasting-bitcoin-other-cryptocurrencies-utilizing-patented-ai-technology.544.html Wed, 13 Dec 2017 10:40:22 -0500 Needham & Company, LLC to Host Security & Networking Conference on November 14, 2017 https://sinewswire.streetinsider.com/r/investments/needham-company-llc-host-security-networking-conference-on-november-14-2017.542.html <p><a href="http://www.streetinsider.com/SI+Newswire">(SI Newswire)</a> New York, NY -- Needham & Company, LLC will host its annual Networking & Security Conference at the Millennium Broadway Hotel in New York City on November 14, 2017. The conference will include many leading companies in the networking, security and optical sectors.</p><p>The Needham Networking & Security conference offers a day of focused discussion on trends driving these markets and the companies providing these technologies. Disruption, Consolidation, Converged, Hyperconverged, Software- Defined-2017 has been dominated by all of these terms, with the next-generation datacenter at the center of some of the most dramatic events in IT this year.</p><p>The 2017 edition of our Networking & Security conference will include some of the leading companies ushering in this upheaval in the markets, offering institutional investors and venture capitalists thoughtful and timely insights they have come to expect from the event. There will be strong representation from optical players benefiting from the current "Supercycle," and from scaled out Data Center and Security players, addressing the themes of Data Center Interconnect, Security Platform versus best in breed, internal versus perimeter defense, software defined networking (SDN) and network function virtualization (NFV). Finally, on the service front, cloud-based service providers in the UCaaS and CPaaS spaces will be included in Needham’s Networking & Security Conference.</p><p>The conference will feature presentations and “fireside chats” from companies in each sector. One-on-one meetings will also be available to qualified investors. The Needham Networking & Security Conference is open to clients of Needham & Company, LLC by invitation only. For more information, please call (212) 371-8300 or visit <a target="_blank" href="http://www.needhamco.com">www.needhamco.com</a>.</p><p><strong>About Needham & Company, LLC</strong></p><p>Needham & Company, LLC, a wholly owned subsidiary of The Needham Group, Inc., is a privately held, full-service investment bank that has focused exclusively on growth companies since its founding 32 years ago. It provides its clients with the resources to achieve their financing and strategic objectives. The Firm has capital raising expertise in IPOs, follow-on public equity offerings, confidentially marketed equity offerings, private placements, mergers and acquisitions, and corporate and venture services (including share repurchases). In addition to investment banking, Needham & Company LLC’s activities include institutional sales and trading, and asset management. To serve its institutional clients, Needham & Company, LLC produces comprehensive equity research on more than 330 companies in communications and enterprise infrastructure; healthcare; industrial technology; Internet, entertainment and consumer; semiconductors and semiconductor equipment; and software and services; and makes a market in over 600 stocks. The Firm is headquartered in New York City with offices in Boston, MA; Chicago, IL; Menlo Park, CA; and San Francisco, CA. Needham & Company, LLC is a member of FINRA & SIPC. For more information, please visit www.needhamco.com.</p><p><strong>Media Contact</strong></p><p>Tucker Hewes<br />Hewes Communications, Inc.<br />(212) 207-9451<br /><a target="_blank" href="mailto:tucker@hewescomm.com">tucker@hewescomm.com</a></p> Investments https://sinewswire.streetinsider.com/r/investments/needham-company-llc-host-security-networking-conference-on-november-14-2017.542.html Mon, 13 Nov 2017 17:21:01 -0500 Needham & Company, LLC to Host Seventh Annual SaaS 1x1 Conference on November 16, 2017 https://sinewswire.streetinsider.com/r/investments/needham-company-llc-host-seventh-annual-saas-1x1-conference-on-november-16-2017.541.html <p><a href="http://www.streetinsider.com/SI+Newswire">(SI Newswire)</a> New York, NY – Needham & Company, LLC will host its Seventh Annual SaaS 1x1 Conference in San Francisco on November 16, 2017. This day-long event provides a unique opportunity to take the pulse of key decision makers of leading, fast-growing SaaS companies, and assess future growth opportunities and challenges.</p><p>The conference consists of 1x1 meetings with management teams for qualified institutional investors, and will serve those investors interested in looking to explore and discuss one of the most compelling secular trends in technology: the rise of SaaS and cloud computing. The conference will be hosted by our Software & Services analyst, Scott Berg.</p><p>The Seventh Annual Needham SaaS 1x1 Conference is open to clients of Needham & Company, LLC by invitation only. One-on-one meetings will be available to qualified investors only. For more information, please call (212) 371-8300 or visit <a target="_blank" href="http://www.needhamco.com">www.needhamco.com</a>.</p><p><strong>About Needham & Company, LLC</strong></p><p>Needham & Company, LLC, a wholly owned subsidiary of The Needham Group, Inc., is a privately held, full-service investment bank that has focused exclusively on growth companies since its founding 32 years ago. It provides its clients with the resources to achieve their financing and strategic objectives. The Firm has capital raising expertise in IPOs, follow-on public equity offerings, confidentially marketed equity offerings, private placements, mergers and acquisitions, and corporate and venture services (including share repurchases). In addition to investment banking, Needham & Company LLC’s activities include institutional sales and trading, and asset management. To serve its institutional clients, Needham & Company, LLC produces comprehensive equity research on more than 330 companies in communications and enterprise infrastructure; healthcare; industrial technology; Internet, entertainment and consumer; semiconductors and semiconductor equipment; and software and services; and makes a market in over 600 stocks. The Firm is headquartered in New York City with offices in Boston, MA; Chicago, IL; Menlo Park, CA; and San Francisco, CA. Needham & Company, LLC is a member of FINRA & SIPC. For more information, please visit <a target="_blank" href="http://www.needhamco.com">www.needhamco.com</a>.</p><p><strong>Media Contact</strong></p><p>Tucker Hewes<br />Hewes Communications, Inc.<br />(212) 207-9451<br /><a target="_blank" href="mailto:tucker@hewescomm.com">tucker@hewescomm.com</a></p> Investments https://sinewswire.streetinsider.com/r/investments/needham-company-llc-host-seventh-annual-saas-1x1-conference-on-november-16-2017.541.html Mon, 13 Nov 2017 17:18:15 -0500 Heng Ren: China Automotive (NASDAQ: CAAS) Bid 47% Below Book Value https://sinewswire.streetinsider.com/r/investments/heng-ren-china-automotive-nasdaq-caas-bid-47-below-book-value.539.html <p><a href="http://www.streetinsider.com/SI+Newswire">(SI Newswire)</a> BOSTON, Massachusetts -- A Chairman’s proposal to buy out shareholders of China Automotive Systems (NASDAQ: CAAS) at a price 47% below its book value – virtually unprecedented in a management buyout – needs to be at least doubled to fairly compensate patient shareholders.</p><p>"CAAS Chairman Hanlin Chen’s buyout offer is woefully inadequate, unrealistically pessimistic about CAAS' outlook, and defies logic," stated Peter Halesworth, Managing Partner of Heng Ren Partners LLC and a CAAS shareholder, who wrote a letter to CAAS' Special Committee challenging the bid price. "Paying half of what patient shareholders deserve - after years of sacrificing cash returns so CAAS could invest and expand into a market leader - is the ultimate betrayal. It gives Chinese companies a bad name with U.S. investors."</p><p>CAAS is China’s leading domestic producer of power steering components, the world’s largest automobile market by sales. CAAS achieved this by investing more than $259 million of shareholder cash during its 13 years as a public company in U.S. stock markets, which now has a market capitalization of $167 million.</p><p>Patient shareholders who have sacrificed short-term cash returns for a long-term payoff of growth, dividends and stock value appreciation are now being abruptly squeezed out – fed a lowball bid by the Chairman less than half of CAAS’ fair value.</p><p>"The value of CAAS is plain to see," Halesworth stated. "If the Special Committee appointed by the Board to evaluate the bid, and their legal (Kirkland & Ellis) and financial advisors (Houlihan Lokey) are rubber-stamping "yes men," they are willfully blind and risking their professional reputations for this flawed proposed transaction."</p><p>To justify Chairman Chen's lowball $5.45 per share offer, CAAS' revenue growth would need to sharply decelerate by 2/3s, its net margins collapse by nearly half, and it would lose money in the rest of 2017.</p><p>In fact in the first half of 2017, CAAS' revenue growth rate accelerated, margins expanded, and profitability significantly improved.</p><p>"The proposed lowball bid bizarrely forecasts a calamity," Halesworth said. "This is unrealistically pessimistic. It defies logic. CAAS also warned of tragedy in 2016 with a recall that ended up being a relatively minor, and short-lived, loss."</p><p>Halesworth predicted Chairman Chen’s lowball bid would be challenged by litigants seeking fair value in the Chancery Court of Delaware.</p><p>"If the Special Committee, aided by Kirkland and Houlihan, close their eyes to the facts and rubber stamp this transaction, rational shareholders won’t stand by and allow this to proceed unhindered," Halesworth stated. "The real calamity is the lowball bid denying shareholders hundreds of millions of dollars in value they deserve to be compensated fairly and approve this buyout."</p><p>Please see the links to the October 10 letter to CAAS’ Special Committee in English and Chinese:</p><p><a target="_blank" href="http://www.hengreninvestment.com/images/documents/CAAS_Letter_October_10_2017-English.pdf">http://www.hengreninvestment.com/images/documents/CAAS_Letter_October_10_2017-English.pdf</a></p><p><a target="_blank" href="http://www.hengreninvestment.com/images/documents/CAAS_Letter_October_10_2017-Chinese.pdf">http://www.hengreninvestment.com/images/documents/CAAS_Letter_October_10_2017-Chinese.pdf</a></p><p>***** END *****</p><p>Contact:</p><p>Peter Halesworth<br />Managing Partner<br />Heng Ren Partners LLC<br /><a target="_blank" href="mailto:phalesworth@hengreninvestment.com">phalesworth@hengreninvestment.com</a></p> Investments https://sinewswire.streetinsider.com/r/investments/heng-ren-china-automotive-nasdaq-caas-bid-47-below-book-value.539.html Tue, 10 Oct 2017 14:10:00 -0400 Heng Ren Questions Jumei's (NYSE: JMEI) Increasingly Erratic Use of Shareholders' Cash https://sinewswire.streetinsider.com/r/investments/heng-ren-questions-jumeis-nyse-jmei-increasingly-erratic-use-of-shareholders-cash-.538.html <p><a href="http://www.streetinsider.com/SI+Newswire">(SI Newswire)</a> This is the English version of a letter we sent to Jumei International Holding’s (NYSE: JMEI) Board of Directors regarding information about their new online lending business, and their increasingly erratic use of shareholders’ cash.</p><p>September 24, 2017</p><p>To Chairman Leo Ou Chen and the Board of Directors of Jumei International Holding,</p><p>This letter is regarding the recent development that Jumei (NYSE: JMEI) has launched an online lending business. Jumei launched this without any notification or disclosure to shareholders about a change in business.</p><p>As a Jumei shareholder we view this development with surprise and disappointment. Jumei is making another costly, questionable, cash-intensive investment in a non-core, high-risk business that could be a waste of shareholders’ money.</p><p>Our concern is heightened by the fact that Jumei has not yet disclosed any information at all about its financial condition in 2017 to shareholders or U.S. regulators.</p><p>Also, a $7.00 per share buyout offer proposed in February 2016 by Chairman Chen, Jumei co-founder Yusen Dai, and Sequoia Capital China, a venture capital firm founded and led by Managing Partner Neil Shen, has gone dark for 19 months. Jumei’s stock now trades at $3.05.</p><p>Obviously all this is causing significant uncertainty among investors with $489 million in market value destroyed for Jumei shareholders since the bid.</p><p>Here is a link to the Chinese version of the letter: <a target="_blank" href="http://www.hengreninvestment.com/images/documents/Heng_Ren_Letter_to_Jumei_on_Lending_September_24_2017-Chinese.pdf">CLICK HERE</a></p><p>Since Jumei and its Board of Directors and Executive Officers –</p><p>Leo Ou Chen – Chairman and CEO Sean Shao – Director Zhenquan Ren – Director Mang Su – Director Adam J. Zhao – Director Huipu Lu – Senior VP Yunsheng Zheng - CFO</p><p>- have never officially disclosed to shareholders any information about Jumei’s new online lending business, we have some fundamental questions to ask on behalf of our investors and other Jumei shareholders:</p><p>- Does Jumei have a license to make online loans in China?</p><p>- What is the source of the funds for these Jumei loans to online borrowers? Is it cash from our balance sheet, i.e. shareholders’ money?</p><p>- What is the total amount loaned? How many Jumei loans have been made?</p><p>- Please describe Jumei’s risk management system and the credit analysis to evaluate loan applications.</p><p>- What percentage of the loan applications are declined by Jumei?</p><p>- What is the APR (annual percentage rate) charged for Jumei loans?</p><p>- What are borrowers using the Jumei loans for?</p><p>- Describe the payment process for borrowers of Jumei loans.</p><p>- What is the term and size of the Jumei loans?</p><p>- Are the Jumei loans secured by borrower assets? Or are they unsecured?</p><p>- If borrowers default what is Jumei’s process to collect the debt?</p><p>- What is the Jumei loan delinquency rate, or loan default rate?</p><p>- Describe how the defaulted loans are paid for by Jumei?</p><p>- What are the key performance indicators for the online lending business, and what is the benefit to shareholders of Jumei?</p><p>- As Jumei has not disclosed a financial statement with balance sheet beyond December 31, 2016 – more than nine months ago – what is Jumei’s current net cash position? Total assets?</p><p>As of the latest financial statement of December 31, 2016, Jumei was reportedly a cash-rich company awash in liquidity. Jumei reported more than $331 million in cash plus $101 million in short-term investments, a total of $432 million in net liquid assets, nearly equal to the company’s stock market value of $445 million.</p><p>This cash appears to be burning a hole in management’s pockets. We are concerned about Jumei’s increasingly erratic and unpredictable spending of shareholders’ cash. This year shareholders have already been surprised and disappointed by a $44.8 million investment of our cash in Jiedian, a start up phone battery power bank, and another $14.3 million on a television drama in China, “Here to Heart.”</p><p>These investments stretch far outside Jumei’s core business of online retail of beauty products. On its corporate website Jumei promotes itself to U.S. investors as “China’s No. 1 online retailer of beauty products.” Online shopping in China is booming. It is difficult for shareholders to comprehend why Jumei is spending shareholders’ cash on a phone battery charger start up, a television show, and now, a provider of high-risk loans? Why not invest in the core business to sustain and grow Jumei’s stated top position in online retail for beauty products?</p><p>The online lending business in China is difficult. Many lenders have failed because of bad loans. What expertise does Jumei have to prevent an expensive failure for shareholders?</p><p>As a shareholder of Jumei we demand that management immediately submit a Form 6-K to the U.S. Securities and Exchange Commission (SEC), as done with the investments in Jiedian and the television drama, to disclose to all shareholders this sudden and unannounced change in business.</p><p>If this SEC filing is not done, or Jumei’s business plan is unavailable, insufficient, and does not win the trust and confidence of shareholders, Heng Ren would demand that Jumei’s Board close this expensive foray into a high-risk business like online lending before it wastes a significant amount of shareholders’ cash.</p><p>Sincerely,</p><p>Peter Halesworth<br />Managing Partner<br />Heng Ren Partners LLC<br />Boston, Massachusetts USA</p> Investments https://sinewswire.streetinsider.com/r/investments/heng-ren-questions-jumeis-nyse-jmei-increasingly-erratic-use-of-shareholders-cash-.538.html Mon, 25 Sep 2017 07:55:00 -0400 "Zombie Buyout" iKang (NASDAQ: KANG) Blocks Investor Seeking Answers https://sinewswire.streetinsider.com/r/investments/zombie-buyout-ikang-nasdaq-kang-blocks-investor-seeking-answers.537.html <p><a href="http://www.streetinsider.com/SI+Newswire">(SI Newswire)</a> BOSTON, Massachusetts (September 18, 2017) -- A shareholder was blocked Friday from an iKang Healthcare Group’s (NASDAQ: KANG) quarterly earnings conference call when trying to ask questions about a longer than two-year buyout process that has resulted in hundreds of millions of dollars in market value destroyed for iKang’s shareholders.</p><p>“We and other shareholders harmed by this buyout debacle won’t be silenced by iKang’s leadership,” said Peter Halesworth, Managing Partner of Heng Ren Partners LLC. “iKang's paranoia about shareholders asking entirely appropriate questions about why iKang’s Board and management has stood by and allowed, on their watch, hundreds of millions of dollars in market value to be destroyed for shareholders during a longer than two-year buyout process, is stark proof that iKang cannot defend the indefensible.”</p><p>On Friday, September 15, 2017 Heng Ren dialed in to iKang’s FY171Q earnings call and was told by the call center, after registering by name to attend, that Heng Ren was not on the list of "invited" participants. Despite no mention of this "invitation-only" restriction in iKang’s widely distributed press release, Heng Ren was blocked from the call. The call center later confirmed there was no “invitation- only” restriction for iKang’s conference call.</p><p>iKang’s U.S. Investor Relations contact and public relations consultant is FleishmanHillard.</p><p>“This hostile reaction fits a pattern of behavior by iKang,” Halesworth wrote in a letter today to iKang’s Board of Directors. “It is very similar to iKang’s reaction to Meinian Onehealth’s proposed buyout, when Meinian was bidding $25.00 per share. As of Friday iKang’s stock price was at $13.68.”</p><p>Heng Ren has published letters outlining how iKang has missed an opportunity to negotiate a sale to Meinian, who bid $25.00 a share in January 2016. Instead iKang reacted with hostility by launching legal and regulatory complaints against Meinian, the highest bidder.</p><p>A “white knight,” Jack Ma’s private equity firm Yunfeng Capital, which was co-founded by the Alibaba Group (NYSE: BABA) chairman, announced a bid of $20.00-$25.00 per share in June 2016. However, with no update on the status of Jack Ma\'s Yunfeng bid since it was announced more than 14 months, iKang’s stock has dropped $507 million in value with the overhang of uncertainty about the status of Yunfeng's bid.</p><p>“Trying to silence Heng Ren through sabotage, instead of trying to win a battle of ideas in a merit-based free market, shows weakness on iKang’s part,” Halesworth wrote. “One would believe a Harvard University graduate like iKang Chairman Ligang Zhang would know better.”</p><p>Heng Ren has asked for a public apology from iKang and a vow to never do this again to another shareholder.</p><p>“Retaliation by public companies against investors seeking answers and solutions for problems is viewed very negatively by U.S. lawmakers, regulators, stock exchanges, and courts,” Halesworth added.</p><p>Here are the links to the letters to iKang’s Board in English and Chinese:</p><p><a target="_blank" href="http://www.hengreninvestment.com/images/documents/Letter_to_KANG_Board_of_Directors_September_18_2017-English.pdf">English version letter</a></p><p><a target="_blank" href="http://www.hengreninvestment.com/images/documents/Letter_to_KANG_Board_of_Directors_September_18_2017-Chinese.pdf">Chinese version letter</a></p><p>Contact:</p><p>Peter Halesworth<br />Heng Ren<br />Telephone 917 439 7369<br /><a target="_blank" href="mailto:phalesworth@hengreninvestment.com">phalesworth@hengreninvestment.com</a></p> Investments https://sinewswire.streetinsider.com/r/investments/zombie-buyout-ikang-nasdaq-kang-blocks-investor-seeking-answers.537.html Mon, 18 Sep 2017 13:40:00 -0400 iKang's Stock Wallows -42% Below Bid Rejected by Insiders https://sinewswire.streetinsider.com/r/investments/ikangs-stock-wallows-42-below-bid-rejected-by-insiders-.536.html <p><a href="http://www.streetinsider.com/SI+Newswire">(SI Newswire)</a> Please read below a reply sent by email by iKang Healthcare Group (NASDAQ: KANG) in response to Heng Ren’s open letter* on August 29, 2017:</p><p><img alt="" style="width: 600px; height: 243px;" src="/images/ckuploads/img/2017/09/13/KANGletter.png" /></p><p>See Heng Ren’s previous open letter <a target="_blank" href="http://www.hengreninvestment.com/images/documents/Heng_Ren_Partners_Letter_iKang_August_30 _2017-English.pdf">here</a></p><p>This is Heng Ren’s reply to iKang’s email:</p><p>iKang’s assertion that it is “focusing on increasing shareholders’ value” is undermined by its performance since Chairman Ligang Zhang’s privatization bid of more than two years ago.</p><p>The stock price chart on the following page tells the story of why confidence is lost in iKang:</p><p><img alt="" style="width: 600px; height: 343px;" src="/images/ckuploads/img/2017/09/13/kangCHART1.png" /></p><p>If iKang was “focusing on increasing shareholders’ value” there would have been serious consideration of the bids from Meinian OneHealth (SHENZHEN: 002044) for $22.00, then sweetened to $25.00 per share 21 months ago, beating Chairman Zhang’s lower bid (see in chart E-1 for “Error 1”).</p><p>Instead, iKang reacted with hostility to Meinian’s premium bid, which was 24% greater than Chairman Zhang’s bid. Just two days after Meinian’s $22.00 offer, iKang’s Board adopted a “poison pill” to thwart Meinian (see E-2 on chart).</p><p>Four months later Chairman Zhang announced an alleged violation (see E-3) of anti-monopoly laws by Meinian in its acquisition of CiMing Health Checkup Management Group (which the government ruled was a minor procedural oversight), and six months later filed a lawsuit against Meinian for alleged intellectual property rights infringement - which Meinian recently stated it is confident will be dismissed. (see E-4).</p><p>For shareholders, iKang’s hostile reactions are far from being productive negotiations with a higher bidder and“focusing on increasing shareholders’ value.” Nor is it a winning strategy to fetch the fair value of $37.00 per share for iKang shareholders.</p><p>Instead, iKang’s hostility toward Meinian sacrificed $466 million in value for shareholders since Yunfeng Capital’s bid. iKang’s stock now languishes at approximately $14.50 per share, 42% below the $25.00 offered 21 months ago by Meinian, with a market value now $658 million less than what could have been pocketed from Meinian’s bid.</p><p>If this is “focusing on increasing shareholders’ value,” then iKang shareholders need new leadership with a new strategy and better focus. The current leadership strategy has failed and hurt shareholders.</p><p>For example, why is a lower bid of $20.00-$25.00 from Yunfeng Capital, a private equity firm co-founded by Jack Ma, the Chairman of Alibaba Group (NYSE: BABA), warmly received by iKang’s leadership when its bid range is mostly below Meinian’s sweetened bid?</p><p>Why give Jack Ma’s Yunfeng a discount instead of “focusing on increasing shareholders’ value” and accepting a clearly higher bid at $25.00 from Meinian?</p><p>If iKang were truly “focusing on increasing shareholders’ value,” then finalize negotiations with Yunfeng Capital on their bid announced 14 months ago. iKang’s Board appointed a Special Committee to evaluate and move on these bids more than two years ago.</p><p>To date the only action the Special Committee has done with any efficiency is adopt a “poison pill” just two days after Meinian’s bid. This contributed to a huge loss of market value for shareholders.</p><p>The Special Committee members, also the independent directors on iKang’s Board, are:</p><p>Ruby Lu</p><p>Thomas McCoy Roberts</p><p>Daqing Qi</p><p>Man Ho Kee Harry</p><p>Gavin Zhengdong Ni</p><p>Meanwhile, there has been no report to shareholders about the evaluation of Meinian’s or Yunfeng’s bids, and whether Yunfeng’s bid has been accepted or rejected.</p><p>Is the Special Committee slow? Disinterested? For some reason unfit for this review? How many times has the Special Committee met, with each other and Yunfeng? Why are they unable to make a decision?</p><p>Is the Jack Ma-backed Yunfeng Capital a real bidder? After 14 months of silence it is a reasonable question.</p><p>On average the completion of recent buyouts of U.S.-listed Chinese ADRs take nine months. Some are completed in five months. For U.S. companies it is typically four months. iKang has been much slower than average considering time elapsed for both bids – 10 months for Meinian’s, and 14 months for Yunfeng’s, respectively.</p><p>Taken as a whole this longer than two-year ordeal has caused an absurd situation, and destroyed $466 million in value for shareholders since the “white knight” Yunfeng appeared. It requires urgent action now by iKang’s Board of Directors to correct the situation by:</p><ul><li>Announcing a decision on the Yunfeng bid.</li><li>If executing the buyout, raise the bid to a minimum of $37.00 per share.</li><li>Closing the transaction before the end of 2017.</li></ul><p>If Yunfeng withdraws its bid, we urge the Board of Directors and iKang’s Chairman Zhang to:</p><ul><li>Remove the poison pill.</li><li>Withdraw the legal complaint against Meinian (still in Shanghai High Court).</li><li>Renegotiate terms for a strategic investment or sale to Meinian at a minimum of $37.00 per share.</li></ul><p>Sincerely,</p><p>Peter Halesworth<br />Managing Partner<br />Heng Ren Partners LLC<br />Boston, Massachusetts</p> Investments https://sinewswire.streetinsider.com/r/investments/ikangs-stock-wallows-42-below-bid-rejected-by-insiders-.536.html Wed, 13 Sep 2017 08:42:41 -0400 iKang’s Stock Wallows -42% Below Bid Rejected by Insiders https://sinewswire.streetinsider.com/r/investments/ikangs-stock-wallows-42-below-bid-rejected-by-insiders-.535.html <a href="http://www.streetinsider.com/SI+Newswire">(SI Newswire)</a> Investments https://sinewswire.streetinsider.com/r/investments/ikangs-stock-wallows-42-below-bid-rejected-by-insiders-.535.html Wed, 13 Sep 2017 07:35:00 -0400 While $466 Million in Market Value is Destroyed, iKang Shareholders Await "White Knight" https://sinewswire.streetinsider.com/r/investments/while-466-million-market-value-is-destroyed-ikang-shareholders-await-white-knight.533.html <p><a href="http://www.streetinsider.com/SI+Newswire">(SI Newswire)</a> BOSTON, Massachusetts – Shareholders of iKang Healthcare Group (NASDAQ: KANG) who have endured two years of uncertainty about an unfulfilled buyout offer and suffered $466 million in market value destruction, demand its Board of Directors end this fiasco and correct major mistakes they have made at shareholders’ expense.</p><p>“An ordeal that began 24 months ago has endured at least seven major mistakes that have cost iKang shareholders $466 million dollars in market value, a debacle for a company with a stock market capitalization of $973 million,” stated Heng Ren Managing Partner Peter Halesworth in a letter on August 29, 2017. “This is unacceptable and has understandably destroyed investor confidence in iKang’s leadership.”</p><p>A so-called “white knight” to end this ordeal, Yunfeng Capital, which was co-founded by Alibaba Group (NYSE: BABA) Chairman Jack Ma, has instead resulted in $466 million in market value destruction.</p><p>Shareholders believed Yunfeng Chairman and co-founder Yu Feng, aka David Yu, when Yunfeng wrote to iKang shareholders on June 6, 2016 and bid $20.00-$25.00 per share that due diligence of iKang would be “efficient,” and financing to acquire China’s largest private preventive health care services provider was “well prepared.”</p><p>Yunfeng’s reassurances came 10 months after a battle between two bidders – a group led by iKang Chairman Ligang Zhang, and Meinian Onehealth Healthcare Group (SHENZHEN: 002044) – ended with Yunfeng’s bid.</p><p>However, since then Yunfeng, David Yu, and Jack Ma have failed iKang shareholders on four pledges made in their 2016 proposal:</p><p>1) “Efficient” due diligence - The average duration between the announcement and closing of a buyout of a U.S.-listed Chinese company is nine months. Yunfeng already has taken 14 months. The U.S. M&A average is considerably shorter.</p><p>2) Yunfeng’s “well prepared” financing plans are absent.</p><p>3) Yunfeng’s “attractive offer price” of $20.00-$25.00 per share is not attractive. iKang is worth more than $37 per share.</p><p>4) Yunfeng said its bid offered shareholders “a higher degree of certainty” – To the contrary, silence for 14 months from a white knight bidder creates uncertainty.</p><p>iKang’s stock then was at $21.12. Now iKang’s stock is at $14.20.* This failure to fulfill pledges to shareholders of a U.S.-listed public company comes at a delicate time for Mr. Ma.</p><p>The Alibaba Group is currently cooperating with an U.S. Securities and Exchange Commission (SEC) investigation regarding accounting, the Committee on Foreign Investment in the U.S. (CFIUS ) is reviewing Alibaba’s Ant Financial $1.2 billion bid for MoneyGram International (NASDAQ: MGI), and the U.S. Trade Representative (USTR) has identified Alibaba subsidiary Taobao.com for its “notorious markets list“ for alleged piracy and counterfeiting issues.</p><p>“Mr. Ma should by now understand that, unlike in China, public opinion in the U.S. is not one-sided and automatically fawning,” Halesworth stated in his letter. “Many before him have had their careers sink in our unpredictable river of public opinion. While behavior in the public spotlight in America is more freewheeling than in China, there are limits. The red lines are not always easy to see if the spotlight is too bright. Being brash is tolerated - until it is not. Mr. Ma should be careful to avoid overstepping.”</p><p>Halesworth added, “Just as Mr. Ma famously stated that Alibaba was the crocodile lurking in the Yangtze River to pounce on foreign rivals who challenged him in China, Mr. Ma should not be overconfident that the U.S. is free of its own crocodiles. And if Mr. Ma is going to swim with them in the river of public opinion, it is better to make friends.”</p><p>To repair the destruction of iKang’s market value for shareholders, and restore confidence in the integrity and credibility of Yunfeng’s public pledges, we urge Yunfeng to take these steps immediately:</p><p>• Announce a decision on the iKang buyout. • If executing the buyout, raise the bid to a minimum of $37 per share. • Close the transaction by the end of 2017.</p><p>If Yunfeng withdraws its bid, we urge iKang’s Board of Directors and Chairman Zhang to:</p><p>• Remove the poison pill. • Withdraw the anti-monopoly complaint against Meinian (if not already done). • Withdraw the legal complaint against Meinian (if not already done). • Renegotiate terms for a strategic investment or sale to Meinian Onehealth at a minimum of $37 per share.</p><p>Link to Chinese version of Heng Ren letter: <a target="_blank" href="http://hengreninvestment.com/images/documents/Heng_Ren_Partners_Letter_iKang_August_30_2017-Chinese.pdf">http://hengreninvestment.com/images/documents/Heng_Ren_Partners_Letter_iKang_August_30_2017-Chinese.pdf</a></p><p>Link to English version of Heng Ren letter: <a target="_blank" href="http://hengreninvestment.com/images/documents/Heng_Ren_Partners_Letter_iKang_August_30_2017-English.pdf">http://hengreninvestment.com/images/documents/Heng_Ren_Partners_Letter_iKang_August_30_2017-English.pdf</a></p><p>* The closing stock price on August 25, 2017.</p><p>-- END –</p><p>Contact:</p><p>Peter Halesworth Heng Ren Partners LLC <a target="_blank" href="mailto:phalesworth@hengreninvestment.com">phalesworth@hengreninvestment.com</a></p> Investments https://sinewswire.streetinsider.com/r/investments/while-466-million-market-value-is-destroyed-ikang-shareholders-await-white-knight.533.html Thu, 31 Aug 2017 07:00:00 -0400 All the Lipstick in China Can't Cover Up Jumei's $397 Million in Value Destruction https://sinewswire.streetinsider.com/r/investments/all-the-lipstick-china-cant-cover-up-jumeis-397-million-value-destruction-.532.html <p><a href="http://www.streetinsider.com/SI+Newswire">(SI Newswire)</a> BOSTON, Massachusetts – An 18-month buyout ordeal triggered by a Chairman’s lowball bid to buy out shareholders of online cosmetics retailer Jumei International Holding Ltd. (NYSE: JMEI) has resulted in $397 million in market value destroyed for shareholders.</p><p>“It is time for the Board to immediately end this debacle,” stated Peter Halesworth, Managing Partner of Heng Ren, in his letter to Jumei’s Board of Directors (see links below). “We have not heard since February 2016 from Chairman Leo Ou Chen about his $7.00/share buyout offer. The stock is now at $3.20.” *</p><p>Jumei proclaims it is the leading online cosmetics retailer in China. While online retail is booming in China, Jumei’s stock has fallen -45.2% since Chairman Chen proposed a buyout of shareholders on February 17, 2016 in partnership with venture capital firm Sequoia Capital (China).</p><p>On that date Chairman Chen wrote to shareholders on behalf of fellow bidders Sequoia and Jumei co-founder Yusen Dai to assure them financing for the acquisition would be secured in a “timely” fashion, and “the Acquisition will provide value to the company’s shareholders.”</p><p>“Eighteen months and $397 million in market value lost for shareholders later, it is obvious Chairman Chen’s reassurances were wrong,” Halesworth stated. Heng Ren values Jumei at more than $8.00 per share.</p><p>Since the 2016 bid, Jumei shareholders have been “flying blind” because:</p><p>- Jumei has not held a conference call about its financial results for 22 months.</p><p>- Jumei has not released any financial information about operational results in 2017.</p><p>What shareholders do know is the $331 million in cash reported by Jumei at the end of 2016 (whose market capitalization is $479 million) may be in jeopardy.</p><p>This year Jumei surprised investors by investing a total of $59 million in a phone battery power bank start up, and a Chinese television drama series. Jumei has never paid shareholders a dividend, and has bought back only $145,000 in stock.</p><p>These “questionable investments appear irrelevant to the core online business and a waste of valuable shareholder cash,” Halesworth stated.</p><p>Heng Ren Partners’ August 29 letter to Jumei’s Board of Directors demands they:</p><p>- Disband the Special Committee reviewing Chairman Chen’s bid. - Pay shareholders a special dividend of $1.50/share. - Disclose 2016 evaluations of the Board and the CEO. - Inform investors why the buyout has taken 18 months – double the average time needed for buyouts of U.S.-listed Chinese stocks - without any information for shareholders.</p><p>“The Board should no longer underestimate the financial damage done to shareholders caused by Chairman Chen’s lowball offer and your delinquent leadership,” Halesworth wrote.</p><p>Link to English version of Heng Ren letter: <a target="_blank" href="http://hengreninvestment.com/images/documents/HengRenLettertoJumeiAugust292017-English.pdf">http://hengreninvestment.com/images/documents/HengRenLettertoJumeiAugust292017-English.pdf</a></p><p>Link to Chinese version of Heng Ren letter: <a target="_blank" href="http://hengreninvestment.com/images/documents/HengRenLettertoJumeiAugust292017-Chinese.pdf">http://hengreninvestment.com/images/documents/HengRenLettertoJumeiAugust292017-Chinese.pdf</a></p><p>* Based on closing price of August 25, 2017.</p><p>-- END –</p><p>Contact:</p><p>Peter Halesworth Heng Ren Partners LLC <a target="_blank" href="mailto:phalesworth@hengreninvestment.com">phalesworth@hengreninvestment.com</a></p> Investments https://sinewswire.streetinsider.com/r/investments/all-the-lipstick-china-cant-cover-up-jumeis-397-million-value-destruction-.532.html Wed, 30 Aug 2017 06:30:00 -0400 Expert Trader Announces His New Forex Scorpio Code System https://sinewswire.streetinsider.com/r/investments/expert-trader-announces-his-new-forex-scorpio-code-system.531.html <p><a href="http://www.streetinsider.com/SI+Newswire">(SI Newswire)</a> Vladimir Ribakov, a professional trader who has gained vast experience in the strategies and insider knowledge of Forex trading over the past 11 years. He started as most home traders do, and lost a significant amount of money when he first plunged into currency trading. He has always been interested in numbers and the foreign exchange market seemed like the natural way for him to go. However, his initial losses did not deter him from progressing and learning the strategies of becoming a professional trader.</p><p>His approach is to develop hybrid systems that incorporate all the knowledge that he has gained over the years of trading. Through these hybrid systems he has simplified Forex trading knowledge so that even those who do not have any knowledge about Forex trading can easily understand what it entails. Other than having a knack for simplification of day trading, these systems offer accurate, systematic and well-informed strategies that save you time.</p><p>Ribakov's latest system, named the <b>Forex Scorpio Code</b>, will be released to the general public in limited quantities for purchase on August 29, 2017. Pre-orders are now being accepted exclusively through <b><a href="http://www.forexscorpioco.de/">http://www.forexscorpioco.de</a></b> <i>(You need to hurry as copies are expected to sellout very soon.)</i></p><p>Forex Scorpio Code is a complete trading and learning program that uses trend trading as the basis for making trading decisions. It identifies price trends and uses these to identify trading opportunities. Of course, it is not perfect 100% of the time, but you will make winning trades more often than losing ones, ensuring that you will make a net profit from your trading over time.</p><p>Ribakov's trading system can be used very profitably on all time frames using the MT4 platform and is designed to put the odds in your favor every time you enter a trade. Using the power of the fundamental trend coupled with accurate entry techniques result in providing traders with a very high success rate. <a href="http://www.alkyonibeachhotel.com/p/forex-scorpio-code-review.html">Forex Scorpio Code</a> is a powerful system that took years to develop. The system is based on the unique custom indicators, that Vladimir developed to help identify high probability areas where traders can take advantage of market volatility to make highly profitable trades.</p><p>When the software has identified an opportunity to make a profitable trade, you will be alerted by the program to take act accordingly. The Trading Scanners allows you to mathematically and with absolute certainty KNOW that that average price over the recent past is now either going up or going down. Finally, it uses old school price-action that provides a further "sense" of what the price is doing, and hence, the probable direction of the price. This is determined in unison with all of the scanner programs and is a fundamental process in the determination of entering a trade.</p><p>As usual, Ribakov's latest trading system is the talk of the town within the online Forex trading community. While his products are always quick to sellout, the buzz surrounding this latest system of his is nothing short of remarkable. Forex Scorpio Code appeals to everyone from newbies to veteran traders.</p><p>The product includes a set of instructional DVDs, trading manuals, the main software program, trading indicators, bonus add-ons, and the member's only forum where users can ask questions and discuss their trading results using the system.</p><p><b>Limited copies of Forex Scorpio Code will ever be for sale. Those interested can purchase the program now via <a href="http://www.forexscorpioco.de/">http://www.forexscorpioco.de</a></b></p> Investments https://sinewswire.streetinsider.com/r/investments/expert-trader-announces-his-new-forex-scorpio-code-system.531.html Tue, 22 Aug 2017 13:20:54 -0400 Needham & Company, LLC to Host Second Annual MedTech 1x1 Conference on August 8, 2017 https://sinewswire.streetinsider.com/r/investments/needham-company-llc-host-second-annual-medtech-1x1-conference-on-august-8-2017.529.html <p><a href="http://www.streetinsider.com/SI+Newswire">(SI Newswire)</a> New York, NY - Needham & Company, LLC will host its Second Annual MedTech 1x1 Conference in Boston on August 8, 2017. This day-long conference will provide a unique opportunity to meet with managements from leading and fast-growing medical technology companies and to attend a featured key opinion leader (KOL) discussion on several relevant topics.</p><p>The conference consists of 1x1 meetings with management teams for qualified institutional investors and venture capital firms as well as the high-profile KOL session, and will serve institutional investors interested in medical devices and diagnostics companies. The conference will be hosted by our MedTech analyst, Mike Matson.</p><p>The Second Annual Needham MedTech 1x1 Conference is open to clients of Needham & Company, LLC by invitation only. One-on-one meetings will be available to qualified investors only. For more information, please call (212) 371-8300 or visit <a target="_blank" href="http://www.needhamco.com">www.needhamco.com</a>.</p><p><strong>About Needham & Company, LLC</strong></p><p>Needham & Company, LLC, a wholly owned subsidiary of The Needham Group, Inc., is a privately held, full-service investment bank that has focused exclusively on growth companies since its founding 32 years ago. It provides its clients with the resources to achieve their financing and strategic objectives. The Firm has capital raising expertise in IPOs, follow-on public equity offerings, confidentially marketed equity offerings, private placements, mergers and acquisitions, and corporate and venture services (including share repurchases). In addition to investment banking, Needham & Company LLC’s activities include institutional sales and trading, and asset management. To serve its institutional clients, Needham & Company, LLC produces comprehensive equity research on more than 315 companies in communications and enterprise infrastructure; healthcare; industrial technology; Internet, entertainment and consumer; semiconductors and semiconductor equipment; and software and services; and makes a market in over 600 stocks. The Firm is headquartered in New York City with offices in Boston, MA; Chicago, IL; Menlo Park, CA; and San Francisco, CA. Needham & Company, LLC is a member of FINRA & SIPC. For more information, please visit <a target="_blank" href="http://www.needhamco.com">www.needhamco.com</a>.</p><p><strong>Media Contact</strong></p><p>Tucker Hewes, Hewes Communications, Inc.<br />(212) 207-9451<br />tucker@hewescomm.com</p> Investments https://sinewswire.streetinsider.com/r/investments/needham-company-llc-host-second-annual-medtech-1x1-conference-on-august-8-2017.529.html Fri, 04 Aug 2017 11:35:49 -0400