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NEW YORK, Aug. 6, 2020 /PRNewswire/ —
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
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CASE NO. 1:17-CV-1580 (LGS)
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IN RE CHICAGO BRIDGE & IRON
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COMPANY N.V. SECURITIES LITIGATION
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SUMMARY NOTICE OF PENDENCY OF CLASS ACTION
TO: All those who purchased or otherwise acquired the common stock of Chicago Bridge & Iron Company N.V. («CB&I») on the New York Stock Exchange («NYSE») during a Class Period from October 30, 2013, through and including June 23, 2015 (the «Class»).
Excluded from the Class are the Defendants, officers and directors of CB&I, members of their immediate families and their legal representatives, heirs, successors, or assigns, and any entity in which Defendants have or had a controlling interest.
PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY.
YOUR RIGHTS MAY BE AFFECTED BY PROCEEDINGS IN THIS ACTION.
This Notice is being sent pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Southern District of New York (the «Court»), entered March 23, 2020, certifying the above-captioned action as a Class Action. This Action has not been settled and continues to be litigated. Accordingly, no claim form need be filed at this time.
If you are a member of the Class, your rights are affected by this Action, and you may have the right to participate in any recovery. You also have the right to exclude yourself from the Class in accordance with the directions set forth in a more detailed Notice of Pendency of Class Action, which was mailed separately to persons and entities identified from the records of Defendant Chicago Bridge & Iron Company N.V. as members of the Class. That Notice of Pendency of Class Action describes in more detail this Class Action and your rights with respect thereto.
If you have not received a more detailed Notice by mail, please contact:
Chicago Bridge Iron Securities Litigation
P.O. Box 3410
Portland, OR 97208-3410
Telephone: (855) 958-3609
www.ChicagoBridgeIronSecuritiesLitigation.com
Inquiries other than requests for the Notice may be made to Class Counsel:
Lewis S. Kahn, Esq.
Kahn Swick & Foti, LLC
1100 Poydras Avenue, Suite 3200
New Orleans, Louisiana 70163
Telephone: (504) 455-1400
Fax: (504) 455-1498
PLEASE DO NOT CALL OR WRITE THE COURT OR THE OFFICE OF THE CLERK FOR INFORMATION OR ADVICE.
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Dated: August 6, 2020
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BY ORDER OF THE COURT
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United States District Court
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Southern District of New York
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 View original content:http://www.prnewswire.com/news-releases/kahn-swick–foti-llc-announces-pendency-of-class-action-involving-purchasers-of-chicago-bridge–iron-company-nv-common-stock-301107221.html
SOURCE Kahn Swick & Foti, LLC
FREDERICK, Md., Aug. 6, 2020 /PRNewswire-PRWeb/ — For two years; organizers, advocates, and supporters have been tirelessly working towards opening a high school for young people who need an alternative learning environment that supports their recovery from substance use disorder. On that foundation and mission, the Phoenix Recovery Academy (operating as a program under Phoenix Foundation of Maryland) is now officially opening enrollment for the 2020-2021 academic…
FREDERICK, Md., Aug. 6, 2020 /PRNewswire-PRWeb/ — For two years; organizers, advocates, and supporters have been tirelessly working towards opening a high school for young people who need an alternative learning environment that supports their recovery from substance use disorder. On that foundation and mission, the Phoenix Recovery Academy (operating as a program under Phoenix Foundation of Maryland) is now officially opening enrollment for the 2020-2021 academic year.
«This school will be a light in the dark,» says Sara Varga, Head of School for Phoenix Recovery Academy. «Seeing the culmination of the hard work and dedication of the community volunteers, including our board members, means lives will change, and hope will be afforded to so many families worried right now,» concludes Varga.
Phoenix Recovery Academy will be accepting rolling admissions with an inaugural first day scheduled for August 31. This non-public high school will service adolescents grades 9 through 12, is tuition-based with scholarships available, and is open to students who are as serious about their education as they are about their recovery from substance use disorder.
Applications can be filled out online at http://www.phoenixrecoveryacademy.org or e-mail svarga@phoenixrecoveryacademy.org .
More on Phoenix Recovery Academy:
Founded in 2020, Phoenix Recovery Academy serves central Maryland and beyond. Located at 117 E. Church St. in Frederick, Maryland, the Phoenix Recovery Academy is the first recovery high school to serve Maryland in 20 years. The Phoenix Recovery Academy models itself as a place of education while being a critical support structure for adolescents to
succeed in their recovery from substance use disorder. Phoenix Recovery Academy and similar schools allow students an alternative to a traditional high school setting; a setting where they work towards their personal goals in recovery, while continuing their education.
Find more information online at http://www.phoenixrecoveryacademy.org.
SOURCE Phoenix Foundation of Maryland
CHICAGO, Aug. 6, 2020 /PRNewswire-PRWeb/ — Christopher House, a family of schools closing opportunity gaps for thousands of low-income majority Latino children and families in Chicago through an innovative continuum of personalized education with immersive family supports, is thrilled to announce that Ashley Vuu is joining the organization as Chief Talent and Equity Officer.
In this newly created role, Vuu will lead high-impact,…
CHICAGO, Aug. 6, 2020 /PRNewswire-PRWeb/ — Christopher House, a family of schools closing opportunity gaps for thousands of low-income majority Latino children and families in Chicago through an innovative continuum of personalized education with immersive family supports, is thrilled to announce that Ashley Vuu is joining the organization as Chief Talent and Equity Officer.
In this newly created role, Vuu will lead high-impact, people-focused strategic initiatives that not only develop Christopher House’s internal culture, but also help drive alignment with the organization’s values and vision, including a commitment to social justice, diversity, equity and inclusion.
«We couldn’t be more excited to welcome Ashley to our team,» said Christopher House Interim Co-CEO Libby Shortenhaus. «Her years of global HR leadership and expertise will be invaluable to us at Christopher House as we work to recruit and retain best in class staff, while creating a supportive, rewarding culture that places a high value on the rich diversity of our workforce and the communities we serve.»
Vuu has served as a leader for multinational workforces and large scale HR restructuring efforts. She brings more than ten years of experience in the technology industry where she’s conquered many of the issues the workforce faces today including strategic engagement and retention initiatives as well as global, federal, & state compliance.
Vuu will lead in all aspects of human capital and recruiting functions, including on-boarding and off-boarding talent, training and development, leadership and succession planning, performance management, employee compensation, benefits, employment law, compliance, employee relations and culture.
«I’m thrilled to be joining the Christopher House team and can’t wait to start doing this impactful work,» Vuu said. «I admire the crucial role Christopher House plays in closing opportunity gaps for at-risk children and families and I’m ready to help support a staff and culture that reflects the organization’s mission.»
Christopher House operates three schools – a flagship school in Belmont-Cragin, offering Christopher House’s full birth through eighth grade continuum along with parent education and support services. They also operate schools in Uptown and Logan Square offering early childhood education, after school services, and full immersive family supports. Their most recent expansion is the JoAnne L. Cicchelli Middle School – to serve 6th – 8th graders at the Belmont-Cragin campus.
About Christopher House
Christopher House is a family of schools working to close the opportunity gap for low-income children and their families from birth through high school to pursue success in school, the workplace, and life. Christopher House’s renowned continuum of education engages the entire family and works to break the cycle of poverty.
SOURCE Christopher House
DALLAS, Aug. 6, 2020 /PRNewswire-PRWeb/ — Everest Group now predicts the 2020 growth rate of IT infrastructure services market will be as low as -4% to -6%, which represents lost revenues ranging from US$33 billion to nearly $50 billion. In the pre-COVID-19 world, the IT infrastructure services market was slated to grow at a modest rate of 2-3%; however, the pandemic has led to uncertainties across the globe. Recovery of the market will…
DALLAS, Aug. 6, 2020 /PRNewswire-PRWeb/ — Everest Group now predicts the 2020 growth rate of IT infrastructure services market will be as low as -4% to -6%, which represents lost revenues ranging from US$33 billion to nearly $50 billion. In the pre-COVID-19 world, the IT infrastructure services market was slated to grow at a modest rate of 2-3%; however, the pandemic has led to uncertainties across the globe. Recovery of the market will depend on the COVID-19 recovery curve across different countries, which remains uncertain.
The severe demand slump being experienced in the IT services industry is reflective of the strains the COVID-19 pandemic has placed upon enterprises, including:
- Demand reduction
- Supply chain disruption
- Business and service continuity challenges
- Cybersecurity risks
Going forward, organizations that can rapidly prioritize or quickly re-energize their infrastructure transformation efforts stand the best chance of surviving the crisis and emerging stronger than before. Everest Group urges enterprises to identify relevant infrastructure transformation opportunities across workplace, cloud, network and security.
«A well-planned transformation will not only rescue enterprises in the short-term, but also revitalize them for future growth,» said Ashwin Venkatesan, vice president at Everest Group. «While infrastructure will play a key role in rescuing enterprises from this crisis, they will have to take a holistic view and focus on evolving the services delivery model, seek efficiency and optimization measures, push toward modernization and digitalization, pivot to new business models, and invest in talent of the future.
«As we emerge from this pandemic, we will enter a world of the ‘next normal’ rather than ‘return to the normal,'» continued Venkatesan. «We believe that COVID-19 will act as an inflection point, giving way to structural changes in the global services industry such as ushering in new models of delivery, enabling enterprises to pivot to ‘newer’ business models, and increasing the appetite for modernization and digital transformation.»
Everest Group provides an in-depth analysis of these new, COVID-19 inspired enterprise priorities in its recently published State of the Market Report on cloud and infrastructure services, «Combatting COVID-19 Through Infrastructure-led Transformation.» The report also provides an analysis of the IT services market; IS buyer adoption trends across geographies, industry verticals and revenue sizes; and key trends shaping the cloud and IS market. In addition, the report offers Everest Group’s outlook for the market for 2020-2021.
***Download a complimentary abstract of the report.***
IT Infrastructure Services Market Highlights
- The United States takes the lion’s share (90%) of the deal volume emanating from North America. The United Kingdom dominates the European deals landscape with typically 30-35% of the volume, followed by Germany at 10-15%. Australia and New Zealand captured 30-35% of the deals in the Asia Pacific region.
- Banking, Financial Services and Insurance continues to be the early adopter of technology innovation, but this market segment has witnessed growth in recent times primarily due to regulatory pressures.
- COVID-19 has accelerated the modernization journey of enterprises to cloud.
- Work from home has become the next normal and will be an integral part of the workplace of the future.
- Networks are finally getting due recognition, and software-defined networking is driving growth.
***Read about the full scope and content of the report here***
About Everest Group
Everest Group is a consulting and research firm focused on strategic IT, business services, engineering services, and sourcing. Our clients include leading global enterprises, service providers, and investors. Through our research-informed insights and deep experience, we guide clients in their journeys to achieve heightened operational and financial performance, accelerated value delivery, and high-impact business outcomes. Details and in-depth content are available at http://www.everestgrp.com/.
SOURCE Everest Group
Covid-19 will reduce gas use in 2020, but recovery will be underpinned by favourable economics, widening access and a longer-term drive towards emissions reductions, including a role for hydrogen and other green gas technologies
LONDON, BARCELONA, Spain, and MILAN, Aug. 6, 2020 /PRNewswire/ – After growing by more than 2% in 2019, global gas use is set to fall by around 4% in 2020, as the Covid-19…
Covid-19 will reduce gas use in 2020, but recovery will be underpinned by favourable economics, widening access and a longer-term drive towards emissions reductions, including a role for hydrogen and other green gas technologies
LONDON, BARCELONA, Spain, and MILAN, Aug. 6, 2020 /PRNewswire/ – After growing by more than 2% in 2019, global gas use is set to fall by around 4% in 2020, as the Covid-19 pandemic reduces energy consumption across the global economies. However, the resulting low gas prices, as well as clean air and climate policies, will promote further switching to gas from other more polluting energy sources, such as oil and coal. This trend was already underway before the pandemic, thanks to cost-competitive gas in key sectors including power, industry and transport, and major regions including Europe, North America and Asia.
The Global Gas Report 2020, published today by the International Gas Union (IGU), research company BloombergNEF (BNEF) and Snam, the Italian-headquartered international gas infrastructure company reviews key global gas industry developments over the last year, provides a high-level outlook for future gas market developments, and examines the potential of hydrogen as a clean fuel to help meet climate goals.
The report shows that medium-term growth will come from increasing cost-competitiveness and increased global access to gas. A particular growth opportunity exists in liquefied natural gas. LNG imports reached 482 billion cubic meters in 2019, up 13% from 2018, and while this figure is expected to fall by around 4.2% in 2020, it could rebound quickly to previous levels as soon as 2021, depending on the persistence and longevity of the pandemic.
Ample natural gas resources exist to support demand growth, but greater gas infrastructure development is needed to support growth in the medium term. India is planning to almost double the length of its gas transmission grid, while China will grow its gas network about 60% by 2025.
Ashish Sethia, global head of commodities at BNEF, commented: «The pandemic has created disruption in the global energy sector, but low gas prices will ultimately stimulate demand growth as the economy recovers. We have already seen unprecedented coal-to-gas switching in Europe, and clean air policies in major growth markets such as India and China will drive more gas adoption in the next few years.»
Joe Kang, President of IGU, said: «This pandemic crisis comes at great cost to the industry, the economy and society at large. It also reminded the world about the value of clean air and healthy environment for wellbeing, providing a unique opportunity to rebuild better. Gas is an abundant, clean, accessible and flexible substitute to more polluting energy sources, and supporting greater fuel switching from coal and oil to gas in the immediate term, while ensuring infrastructure is ready to accommodate progressively greater scale of clean gas technologies in the coming decade, is the way to secure a sustainable and prosperous future.»
Low-carbon gas
In the longer term, there are major opportunities to scale up the use of low-carbon gas technologies, but these depend on substantial policy action and infrastructure investment in the coming years. Clean hydrogen could abate up to 37% of energy-related greenhouse gas emissions, according to BNEF estimates. However, this would require a range of meaningful steps, including emissions pricing linked to clear, Paris-aligned long-term climate targets; harmonized standards governing hydrogen use; coordinated strategies regarding regional and global infrastructure roll-out, and the deployment of hydrogen-ready equipment, such as pipelines, gas turbines and end-use appliances.
Jon Moore, CEO of BNEF, said: «It is increasingly clear that the goals of the Paris Agreement cannot be met without a substantial scale-up of clean gas technologies – such as hydrogen. While the economics are challenging today, a joined-up policy approach could unleash the investment needed to bring costs down, develop scalable business models and drive adoption across the hard-to-abate sectors.»
The development of an international hydrogen market could also accelerate adoption. The report finds that Germany, which is pursuing rapid development in hydrogen, could procure cost-competitive hydrogen (at about $1/kg) in 2050 from a variety of sources, including via electrolysis from its own domestic renewable power, or via pipeline imports from North Africa or Southern Europe.
Snam CEO Marco Alverà said: «The hydrogen market is on the verge of a revolution. The goal is to bring down the cost of green hydrogen until it becomes competitive with fossil fuels in many applications in the next five years. A smart way to scale up hydrogen production is blending it with natural gas in existing gas pipelines, something Snam has been testing for two years. We envision a future where clean hydrogen produced in Southern Italy or North Africa can be transported through our pipelines to serve Central and Northern European needs. While matching supply and demand in the most efficient way, the infrastructure is expected to play a central role in supporting the penetration of hydrogen in the energy mix.»
Natural gas in the long term
The report also reviews the long-term outlook for natural gas under different existing scenarios, including those from the International Energy Agency, BNEF and IGU analysis. The IEA’s Stated Policies Scenario, from its 2019 World Energy Outlook, envisions gas use growing 1.4% per year to 2040, while BNEF’s economics-led New Energy Outlook 2019 foresaw 22% growth in power sector gas demand to 2050.
In contrast, the IEA’s Sustainable Development Scenario sees natural gas use declining from the end of the 2020s onward as the global energy demand flattens and the world embraces stronger climate action. And both IGU and BNEF analysis indicate that around one-third of energy-related emissions could be abated by adoption of clean gas technologies. This divergence in outlooks highlights both the risks and the opportunities for the global gas sector in the energy transition – and the importance of actions taken by both industry and government to capture the new opportunities and mitigate the risks for the sector in the coming decades.
About BloombergNEF
BloombergNEF (BNEF) is a leading provider of primary research on clean energy, advanced transport, digital industry, innovative materials, and commodities. With a team of experts spread across six continents, BNEF leverages the world’s most sophisticated data sets to create clear perspectives and in-depth forecasts that frame the financial, economic and policy implications of industry-transforming trends and technologies. Available online, on mobile and on the Terminal, BNEF is powered by Bloomberg’s global network of 19,000 employees in 176 locations, reporting 5,000 news stories a day. Visit https://about.bnef.com/ or request more information.
About IGU
The International Gas Union is the global voice of gas, representing over 95% of the gas industry worldwide, in 85 countries, across all 5 continents. Its mission is to advocate for the social, technical, and economic progress of the global gas industry. The IGU works to improve the competitiveness of gas in the world energy markets by promoting transparency, public endorsement, and the removal of barriers to progress, innovation, access, and development. To achieve this, the IGU also often collaborates with other industry partners, public agencies, and multilateral organisations.
The IGU is committed to a sustainable future, which will require a wide spectrum of clean energy technologies including gas, a critical tool for the world to meet climate goals and deliver on the Sustainable Development agenda.
About Snam
Snam is one of the world’s leading energy infrastructure operators and one of the largest Italian listed companies in terms of market capitalization. Through its international subsidiaries, it operates in Albania, Austria, China, France, Greece, the UAE and UK. The company has the largest natural gas transmission network and storage capacity among European peers and is also one of the main operators in regasification. As part of a €6.5 billion plan to 2023, Snam invests €1.4 bn in the SnamTec project, focused on innovation and new energy transition businesses, from sustainable mobility to biomethane and energy efficiency. Snam also aims to enable and promote the development of hydrogen to foster decarbonisation in the energy sector and industries. For more information, visit snam.it.
 View original content:http://www.prnewswire.com/news-releases/global-gas-industry-set-to-resume-growth-post-pandemic-adopt-low-carbon-technologies-for-long-term-growth-301107004.html
SOURCE International Gas Union
CHARLOTTE, North Carolina, Aug. 6, 2020 /PRNewswire/ — Following the United Kingdom (UK) court’s grant on May 7, 2020 of an interim injunction against Shenzhen Senior Technology Material Co., Ltd. (Senior) as requested by Celgard, LLC (Celgard), a subsidiary of Polypore International, LP (Polypore), and the UK court’s May 21, 2020 order continuing the effect of the interim injunction, the UK court issued a Judgement on July 30, 2020 granting an injunction through…
CHARLOTTE, North Carolina, Aug. 6, 2020 /PRNewswire/ — Following the United Kingdom (UK) court’s grant on May 7, 2020 of an interim injunction against Shenzhen Senior Technology Material Co., Ltd. (Senior) as requested by Celgard, LLC (Celgard), a subsidiary of Polypore International, LP (Polypore), and the UK court’s May 21, 2020 order continuing the effect of the interim injunction, the UK court issued a Judgement on July 30, 2020 granting an injunction through trial and will make an order in the terms sought by Celgard that blocks Senior’s import of Battery Separators into the UK through trial.
The court’s Judgement in favor of Celgard not only granted the injunction against Senior, it also held that Celgard had established a serious issue to be tried that Senior had used its trade secrets in developing and manufacturing battery separators and that England was the proper forum for the importation dispute. Celgard intends to fully pursue its trade secret case against Senior.
On April 30, 2020, Celgard filed an application for an urgent injunction against Senior in the High Court of Justice in London, England. On May 7, on an ex parte basis, the UK court granted an interim injunction to prevent Senior from importing certain battery separators into the UK.
Earlier, on March 2, Celgard filed a Complaint against Defendants Shenzhen Senior Technology Material Co. Ltd. (Senior-China), Shenzhen Senior Technology Material Co. Ltd. (US) Research Institute (Senior-California), Xiaomin (Steven) Zhang, Sun Town Technology, Inc., Global Venture Development, LLC, and Global Venture Development, Inc. (collectively, Global Venture) (collectively, WDNC Defendants) in the U.S. District Court for the Western District of North Carolina (WDNC) for trade secret misappropriation, unfair and deceptive trade practices and unfair competition, civil conspiracy, unjust enrichment and conversion.
Additionally, Celgard filed a Second Amended Complaint against Defendants including Shenzhen Senior Technology Material Co. Ltd. (US) Research Institute (Senior-California) and others (collectively, NDCA Defendants) for patent infringement, breach of contract and breach of implied covenant of good faith and fair dealing in the U.S. District Court for the Northern District of California (NDCA).
The WDNC Complaint alleges the WDNC Defendants, including a former Celgard employee, Xiaomin (Steven) Zhang, now CTO of Senior-China who changed his name to Bin Wang at the request of Senior-China, purposely and unlawfully misappropriated Celgard’s trade secrets and confidential information and continue to do so. Several other violations of the law are also alleged.
The NDCA Second Amended Complaint alleges the NDCA Defendants infringe Celgard’s United States Reissued Patent RE47,520 (the ‘520 patent), formerly United States Patent 6,432,586 (the ‘586 patent), and Celgard’s United States Patent No. 6,692,867 (the ‘867 patent). See Release.
In December 2019, Celgard filed a First Amended Complaint in the NDCA adding to the suit the Defendants Farasis,Sun Town, and Global Venture. See Release.
In September 2019, Celgard filed suit against Senior who sells separators globally that they make in Shenzhen, China. Celgard’s Complaint alleged Senior had infringed Celgard’s U.S. ‘520 and ‘867 patents, and has unlawfully misappropriated and misused Celgard’s trade secrets and confidential information, among other violations and seeks compensation for damages. See Release.
In September 2019, Celgard successfully settled a patent infringement lawsuit against Targray International. See Release. Celgard also successfully settled two suits in June 2019, against MTI Corporation. See Release.
The UK Judgement and the successful outcome of the Targray and MTI cases further solidifies the integrity of Celgard’s intellectual property (IP) regarding coated and uncoated separators for lithium-ion batteries. Celgard will continue to prevent the unfair exploitation of its technology and IP to safeguard its assets and customers.
About Celgard and Polypore
Celgard specializes in coated and uncoated dry-process microporous membranes used as separators that are a major component of lithium-ion batteries. Celgard’s battery separator technology is important to the performance of lithium-ion batteries for electric drive vehicles, energy storage systems and other applications.
Celgard, LLC is a wholly-owned subsidiary of Polypore International, LP, an Asahi Kasei Company.
Polypore is a global company with facilities in nine countries specializing in microporous membranes used in electric and nonelectric vehicles, energy storage systems and specialty applications. Visit www.celgard.com and www.polypore.com.
Photo – https://mma.prnewswire.com/media/1224376/Celgard.jpg
Logo – https://mma.prnewswire.com/media/798399/PolyPore_Logo.jpg
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