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ROSEN, A TOP RANKED LAW FIRM, Reminds Teva Pharmaceuticals Industries Limited Investors of the …

ROSEN, A TOP RANKED LAW FIRM, Reminds Teva Pharmaceuticals Industries Limited Investors of the …

NEW YORK, Oct. 12, 2020 (GLOBE NEWSWIRE) — Rosen Law Firm, a global investor rights law firm, reminds the purchasers of the securities of Teva Pharmaceuticals Industries Limited (NYSE: TEVA) between October 29, 2015 and August 18, 2020, inclusive (the “Class Period”), of the important November 23, 2020 lead plaintiff deadline in securities class action. The lawsuit seeks to recover damages for Teva investors under the federal securities laws.

To join the Teva class action, go to http://www.rosenlegal.com/cases-register-1956.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding Teva’s business, operational, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Teva had made substantial illegal kickback payments to charitable foundations to cover Medicare co-payment obligations of patients taking Copaxone; (2) accordingly, Teva’s revenues derived from Copaxone were in part the product of unlawful conduct and thus unsustainable; (3) the foregoing misconduct subjected Teva to a foreseeable risk of heightened regulatory scrutiny and enforcement, as well as reputational harm when the truth became known; and (4) as a result, defendants’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than November 23, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-register-1956.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of Rosen Law

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UK Crypto Derivatives Ban Seen Having Limited Effect on Small Market

UK Crypto Derivatives Ban Seen Having Limited Effect on Small Market

(Piotr Swat/Shutterstock)

The U.K. Financial Conduct Authority’s decision to ban individual investors from speculating on bitcoin and other cryptocurrencies is likely to have a minimal impact, partly because the market is so small, according to analysts and industry executives who track the trading business.

Some U.K.-based brokerages that had offered the crypto derivative products to retail traders could see a drop-off in revenue, though big cryptocurrency exchanges including Kraken say the impact is likely to be minimal. While U.K. individuals can still trade the actual cryptocurrencies, there may be some traders who will seek to skirt the rules by trading on offshore exchanges.

The ban is set to take effect in January. Professional investors weren’t barred from trading cryptocurrency derivatives partly because they “have greater understanding of the risks and greater capacity to absorb potential investment losses,” according to an FCA report this month.

Related: Crypto Long & Short: A UK Ban on Crypto Derivatives Will Hurt, Not Protect Investors

“Those still keen on trading crypto derivatives will just find ways to open accounts in unaffected regions,” Don Guo, CEO of Broctagon Fintech Group, told CoinDesk in an email. “There is a stark risk that retail traders will simply trade on unregulated exchanges, which in fact puts them at more risk.”

Few U.K.-based retail investors trade crypto derivative products directly, according to Sui Chung, CEO of CF Benchmarks, which provides price indexes to exchanges including Chicago-based CME Group.

Instead, they normally go through so-called contract for difference (CFD) providers, Chung said. 

Regulated brokers and exchanges that had offered crypto derivatives and exchange-traded notes (ETNs) to retail traders included the Kraken-owned Crypto Facilities, CMC Markets and IG Index.

Related: CME Sounding Out Crypto Traders to Gauge Market Demand for Ether Futures, Options

“This has a very minimal impact on Crypto Facilities,” a Crypto

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AM Best Affirms Credit Ratings of Members of Standard Insurance Group and Pacific Guardian Life Insurance Company, Limited

AM Best Affirms Credit Ratings of Members of Standard Insurance Group and Pacific Guardian Life Insurance Company, Limited

OLDWICK, N.J.–(BUSINESS WIRE)–Oct 9, 2020–

AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” of Standard Insurance Company (Portland, OR) and its affiliate, The Standard Life Insurance Company of New York (White Plains, NY), together referred to as the Standard Insurance Group (The Standard). Additionally, AM Best has affirmed the Long-Term ICR of “bbb+” and the Long-Term Issue Credit Rating (Long-Term IR) of “bbb+” on the outstanding $250 million 5% senior unsecured notes, due 2022, of StanCorp Financial Group, Inc. (StanCorp Financial) (Portland, OR), the intermediate holding company of The Standard.

Concurrently, AM Best has affirmed the FSR of A (Excellent) and the Long-Term ICR of “a” of Pacific Guardian Life Insurance Company, Limited (Pacific Guardian) (Honolulu, HI). The outlook of these Credit Ratings (ratings) is stable. The Standard and Pacific Guardian are the U.S. insurance subsidiaries of Meiji Yasuda Life Insurance Company (Meiji Yasuda).

The ratings of The Standard reflect its balance sheet strength, which AM Best categorizes as strong, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management (ERM).

The Standard’s risk-adjusted capital has shown incremental increases over the past two years based on favorable operating results. Dividends to the parent have been lower than historical levels, which has contributed to the capital appreciation. Approximately one-third of The Standard’s invested assets are held in commercial mortgage loans with a concentration of loans on the West Coast. The portfolio is currently performing well as The Standard is the direct underwriter of the loans and has strong underwriting capabilities based on its long history as a loan originator. However, commercial mortgage loan performance overall is under pressure due to the economic impact of the COVID-19 pandemic, especially in retail and hospitality

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AM Best Affirms Credit Ratings of Tokio Marine Pacific Insurance Limited

AM Best Affirms Credit Ratings of Tokio Marine Pacific Insurance Limited

AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of “aa-” of Tokio Marine Pacific Insurance Limited (TMPI) (Guam). The outlook of these Credit Ratings (ratings) is negative.

The ratings reflect TMPI’s balance sheet strength, which AM Best categorises as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management. The ratings also acknowledge the wide range of implicit and explicit support that TMPI receives from its parent, Tokio Marine & Nichido Fire Insurance Co., Ltd. (TMNF).

TMPI’s risk-adjusted capitalisation remains at the strongest level in 2019, as measured by Best’s Capital Adequacy Ratio (BCAR). The balance sheet strength assessment also is underpinned by the company’s high quality assets and a conservative investment strategy. Its net underwriting leverage remains relatively high; however, the group accident and health (A&H) business, which accounts for more than 90% of TMPI’s underwriting portfolio, is considered to have low potential for volatility in general.

Notwithstanding a historical track record of positive and stable operating performance supported by the limited volatility and low expense structure of the group A&H line, TMPI reported a large net loss in 2019, mainly driven by the deteriorated profitability in its key business account, the Guam government’s health plan (GovGuam). Although the GovGuam account was not renewed for the 2020/2021 term, the continued negative rating outlooks reflect persistent pressure on TMPI’s operating performance assessment, as its premium base will remain at a significantly lower level following the plan’s non-renewal, which will subject its bottom line to greater vulnerability in large claim cases. In addition, the company faces an increasing expense burden from regulatory A&H industry fee payments in 2020 and tax obligations following the expiry of its corporate tax exemption in April 2019. Various initiatives to

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Balaxi Ventures Limited renamed as Balaxi Pharmaceuticals Limited

Balaxi Ventures Limited renamed as Balaxi Pharmaceuticals Limited

HYDERABAD, India, Oct. 8, 2020 /PRNewswire/ — Pursuant to the shareholder approval granted in the Annual General Meeting held on September 11, 2020, the MCA has now granted approval to the change in company’s name to Balaxi Pharmaceuticals Limited.

Listed on the National Stock Exchange, Balaxi Pharmaceuticals Limited (Balaxi) is a fast growing pharmaceutical company with on-ground presence across regions like Angola, Guatemala, and Dominican Republic. The Company is engaged in supplying branded and generic medicines addressing multiple therapeutic segments through its asset-light, stock & sell model. Balaxi owns a robust product portfolio of 548 registrations coupled with an on-ground infrastructure of 38 warehouses and a fleet of owned vehicles for logistics.

Managing Director, Mr. Ashish Maheshwari commented, “Balaxi invests significant resources in securing formulations registrations in frontier markets of Africa and Central America. Balaxi has a strong recall as a leading pharma brand in regions where we have presence. Considering our focus on pharma business, it is only apt that the company’s name reflects our brand proposition.”

About Balaxi Pharmaceuticals Limited:

Balaxi Pharmaceuticals Ltd is a branded IPR-based pharmaceutical player focusing on frontier markets, with a vast and growing portfolio of prescription and OTC drugs, across multiple therapeutic segments. The Company is engaged in supplying branded and generic medicines through its well-built distribution network across Angola, Guatemala and Dominican Republic. These products are procured from WHO GMP certified contract manufacturers based in India, China and Portugal. Balaxi is present in ancillary business and building a branded FMCG business which complements pharmaceutical business and provides operating leverage on the back of well-established on-ground infrastructure and channel relationships.

Forward looking Statement

Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like

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