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Don’t Let RSV, Flu, and Covid-19 Hijack Your Holidays

YourUpdateTV

A video accompanying this announcement is available at: https://youtu.be/v8cdWdNaAkM RSV, covid and flu are keeping kids out of school—parents out of work and unable to gather with their families. We are in the height of the Holiday travel season with sick children and now, older adults filling hospitals nationwide Flu and RSV usually circulates from late December to mid-February. But this year, an early spike in cases is resulting in markedly higher numbers of infections and hospitalizations. More importantly, RSV infections among young children and now older adults are filling many U.S. hospitals to capacity. On average, RSV leads to 58,000 hospitalizations among children under age 5 and 177,000 hospitalizations among adults 65 and older each year, according to the U.S. Centers for Disease Control and Prevention. To raise awareness about these significant concerns, Dr Emily Volk, President of the College of American Pathologists, conducted a nationwide media tour. Topics that Dr. Volk addressed included: What exactly RSV is and how it spread Why we are seeing a surge in RSV cases How someone can tell the difference between RSV, Flu, and Covid symptoms If families want to travel and be with their families, this holiday season what precautions are needed to do that safely If you want more information on testing, please visit: cdc.gov/rsv cdc.gov/flu/weekly Contact Details YourUpdateTV +1 212-736-2727 yourupdatetv@gmail.com

December 21, 2022 10:09 AM Eastern Standard Time

Video
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Multipolar Development Corporation Early Modeling Success Paving Way for New Direct Current Electric Machine Prototype

Multipolar Development Corporation

Multipolar Development Corporation (MDC) an electrical engineering company announced a key design milestone in the development of its novel Multi-Polar Technology™ electric vehicle (EV) propulsion enhancement system. Models are proving that MDC’s patented technology will improve efficiencies in overall performance and range of operation, particularly in large consumer vehicle trucks and commercial transport vehicles. MDC engineers and partners are completing a finite element method (FEM) model for a 10 kW 2 kV prototype direct current (DC) electric machine that demonstrates the ability to operate at higher DC voltages and without the need for a commutator. “Multi-Polar represents one of the single greatest incremental improvements in motor technology I have seen in more than 25 years,” stated engineering expert and MDC team member Arie Hirshbein, “I am thrilled and excited to be part of the development team at this early stage.” “The machine analyzed could be operated like a one-phase brushless machine, providing an advantage in control that could provide flexibility at different operating points of the motor. Without a need for rare earth permanent magnets, Multipolar technology provides a huge advantage in the performance of the motor and avoids supply chain and environmental issues associated with permanent magnets currently utilized,” Hirshbein continued. “Since the failure and maintenance of commutators have made higher power of DC electric machines impractical, the success of our model bodes well for its future in an industrial setting,” stated Multipolar inventor Shaun McCutcheon. “The Multi-Polar design is expected to allow high motor torque performance, including a high starting torque, making it suitable for heavy industrial applications and large electric vehicles (EV’s).” “The modeling is paving the way for us to demonstrate and prove the gains in overall system efficiency that our technology achieves through a physical prototype. We are designing a prototype based on the current computer models and showcasing the significant practical use of the technology,” McCutcheon continued. MDC technology modeling employs an advanced software and firmware-based control system that adjusts the polarity and the magnetic field strength of each electromagnetic pole within an electric motor or generator to achieve the desired operation. The control system relies on sensor data about the position and speed of the rotor to optimize pole parameters in real-time to enhance performance. The FEM model simulates 42 and 78 poles within a rotating machine and provides a numerical solution for the electromagnetic fields and relevant voltages. Recent simulations achieved rectification of generator output exceeding 2000 V DC at speed with no brushes or commutator in the model, resulting in a significant proof of concept for the design. Multi-Polar motors will require fewer external drive components as the speed and torque are managed directly by the advanced control system. Unlike standard DC brushless machines, they will require only two power connections. The wide range of operational speeds at full power – owing to the ability to change the number of poles virtually – will allow MDC’s machines to be repurposed through software and firmware changes rather than being replaced or redesigned. The advanced control system will also be able to compensate for efficiency losses due to mechanical imperfections or damage. “Multipolar moves us into a truly digital machine age – an advanced machine without many of the inherent inefficiencies and limitations of classic electromagnetic energy conversion,” McCutcheon explained. “The modeling proves our technology has the potential to shock the EV industry and advance it to a new level of efficiency and performance.” Multipolar Development Corporation is an Austin, TX-based S-Corp comprised of energy, electric, and automotive engineering experts. ### Please visit: https://www.multipolarmachine.com/ For more information or to schedule an interview with Shaun McCutcheon, please contact Dan Rene of kglobal, at daniel.rene@kglobal.com or 202-329-8357 Contact Details kglobal Dan Rene +1 202-329-8357 daniel.rene@kglobal.com Company Website https://www.multipolarmachine.com/

December 19, 2022 10:30 AM Eastern Standard Time

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Travel Technology Association Files Comments with U.S. Department of Transportation on Airline Ticket Refunds and Consumer Protections

Travel Tech

The Travel Technology Association (Travel Tech), the voice of the travel technology industry and a consistent advocate for public policy that supports a competitive and transparent marketplace, filed comments today in response to the Department of Transportation’s (DOT) Notice of Proposed Rulemaking (NPRM) on “Airline Ticket Refunds and Consumer Protections,” – Docket No. DOT-OST-2022-0089. "On behalf of consumers and our member companies that serve them, the Travel Technology Association is proud to stand with the U.S. Department of Transportation in assuring once and for all that airline travelers are made whole when their flights are canceled,” said Travel Tech President and CEO Laura Chadwick. “You get what you pay for, and when you don't, you should get your money back." "We welcome the Department's decision to define what constitutes a ‘canceled flight’ and ‘significant change to flight itinerary.’ These definitions will bring much-needed uniformity and clarity to what have been fraught and stressful experiences for travelers facing weather or airline staffing issues," Chadwick continued. "Great customer service, whether before, during, or after a trip, is key to the value Travel Tech members offer. These definitions will help online travel agents better support their customers navigating frustrating flight cancellations and the labyrinth of airline customer service systems." The Travel Technology Association’s full comments may be viewed at: https://www.traveltech.org/wp-content/uploads/2022/12/Comments-of-The-Travel-Technology-Association.pdf In its comments, the Travel Technology Association explains that ticket agents are already bound to issue refunds “promptly” after airlines provide the authorization and funds to do so. In its draft rule, the Department proposes that customers receive refunds within seven days. However, it takes up to eleven days to secure refunds from airlines' payment and refund systems. "To require refunds before the funds are returned by the airline – as the proposed rule currently demands – would impose an undue financial burden and risk on ticket agents. We encourage the Department to revise this part of its proposal to reflect that airlines’ payment and refund systems are beyond the control of ticket agents.” ### About Travel Tech The Travel Technology Association (Travel Tech) is the voice of the travel technology industry, advocating for public policy that promotes transparency and competition in the marketplace to encourage innovation and preserve consumer choice. Travel Tech represents the leading innovators in travel technology, including global distribution systems, online travel agencies and metasearch companies, travel management companies, and short-term rental platforms. To schedule an interview with a Travel Tech spokesperson, contact Dan Rene of kglobal at 202-329-8357 or daniel.rene@kglobal.com. Contact Details kglobal Dan Rene +1 202-329-8357 daniel.rene@kglobal.com Company Website https://www.traveltech.org.

December 19, 2022 10:15 AM Eastern Standard Time

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Claravine Appoints Justin Shepard as its First Chief Financial Officer

Claravine

Claravine, a pioneer in data integrity for the global enterprise, has appointed Justin Shepard as its first Chief Financial Officer (CFO). The newly added role supports the continued growth of Claravine and the increasing demand for its Data Standards Cloud platform within the enterprise. This demand is being driven by disruption in digital advertising and marketing being driven by increased data compliance needs, campaign measurement challenges due to signal loss and a heightened focus on first-party data. Shepard joins Claravine’s executive team with CFO experience from Flytedesk, the largest campus advertising technology network in the US; Clear Ballot Group, leading provider of government technology solutions that increases trust and transparency for the backbone of America's democracy; and Brand Networks, a social marketing and advertising technology company. Shepard will play a key role in the effective running of the business’ finance, strategy and operations functions. Shepard will report to Claravine’s CEO Chief Executive Officer, Verl Allen. “Claravine has had an incredible amount of momentum over the past year, with its goal being to continue transforming the way brand marketers and agencies manage and action data to deliver the greatest impact on the businesses they serve,” said Shepard. “I’m excited to join this incredible team and help enable further growth for the business in the years ahead.” Founded in 2012, Claravine empowers a proactive approach to data by activating standards across people and technology – bridging the silos that limit speed and decisions. The company has forged successful partnerships with well-known Fortune 1000 companies such as Under Armour and Ancestry and is currently working with a quarter of the Fortune 100. With a collaborative user interface and strategic integrations with top customer experience platforms such as Adobe and Google, Claravine's platform, The Data Standards Cloud®, helps global organizations define, apply and connect standards across their ecosystem for faster decisions, greater agility and increased ROI. “Justin’s wealth of experience is exactly what we’re looking for during this period of growth at Claravine. His diverse background in a wide range of senior finance roles as well as his keen passion in data and analytics makes him a perfect fit for our company and team,” said Verl Allen, CEO of Claravine. Shepard’s appointment to Chief Financial Officer comes soon after Claravine’s 2022 AdExchanger Award win for Best Data Technology and the Claravine’s recognition as a cool vendor in 2022 Gartner Cool Vendors in Marketing Data and Analytics report. Claravine also expanded its integration library this year in an effort to be compatible with more of the major platforms including Google Ads, Snapchat Ads and Pinterest Ads Manager. About Claravine Claravine is a pioneer in Data Integrity for the global enterprise. We empower a proactive approach to marketing measurement by activating data standards across people and technology, bridging the silos that limit speed and decisions. That’s why nearly a quarter of the Fortune 100 use our platform, The Data Standards Cloud, to define, apply and connect standards across their ecosystem for faster decisions, greater agility, and increased ROI. www.claravine.com Contact Details Kite Hill PR Michael Kocher +1 704-960-2295 michael@kitehillpr.com Company Website https://www.claravine.com/

December 19, 2022 09:00 AM Eastern Standard Time

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CleverTap appoints Satyadeep Mishra as Chief Human Resources Officer

CleverTap

CleverTap, the World's #1 Retention Cloud today announced the appointment of Satyadeep Mishra as their new Chief Human Resources Officer. He joins from the hospitality-technology platform, OYO where he worked as the Chief Human Resources Officer for its technology, product, global functions and international markets teams. With over two decades of experience working with the likes of Jio, Barclays and Bajaj Finserv among others, Satya brings with him a demonstrable history of leading teams and conceptualizing innovative HR strategies across domains of talent acquisition, training & development, and performance management. He also played a pivotal role in the transformational growth journey of Jio’s core telecom and digital initiatives. “We are excited to have Satya onboard. Having nurtured some of the industry’s leading experts, quality talent has always been a top priority for CleverTap. And with Satya’s immense experience, I have no doubt that he will lead our People Strategy and continue to build on our culture which puts employees first, as we go from strength to strength in our journey as global MarTech leaders”, said Sidharth Malik, Chief Executive Officer, CleverTap. “It's an absolute pleasure to be part of such a dynamic and exuberant team. The growth of CleverTap over the past few years is a testament to the capabilities and dedication of everybody involved with the team. The roles that HR functions play, not just in people strategy, but even in business, have become significant for more companies, especially within the era of work from anywhere. I am elated to be working with like-minded individuals that understand the importance of retaining and nurturing bright talent. I am confident that together, we can scale new heights and break conventional barriers while creating value not only for our customers but also for our employees the world over”, said Satyadeep Mishra, Chief Human Resource Officer, CleverTap. About CleverTap CleverTap is the World's #1 Retention Cloud that helps app-first brands personalize and optimize all consumer touch points to improve user engagement, retention, and life-time value. It's the only solution built to address the needs of retention and growth teams, with audience analytics, deep-segmentation, multi-channel engagement, product recommendations, and automation in one unified product.The platform is powered by TesseractDB™ - world’s first purpose-built database for customer engagement, offering both speed and economies of scale. CleverTap is trusted by 1500 customers, including Gojek, ShopX, Electronic Arts, TED, English Premier League, TD Bank, Carousell, AirAsia, Papa John’s, and Tesco. Backed by leading investors such as Sequoia India, Tiger Global, Accel, and CDPQ the company is headquartered in Mountain View, California, with presence in San Francisco, New York, São Paulo, Bogota, London, Amsterdam, Sofia, Dubai, Mumbai, Singapore, and Jakarta. For more information, visit clevertap.com or follow on LinkedIn and Twitter. Forward-Looking Statements Some of the statements in this press release may represent CleverTap's belief in connection with future events and may be forward-looking statements, or statements of future expectations based on currently available information. CleverTap cautions that such statements are naturally subject to risks and uncertainties that could result in the actual outcome being absolutely different from the results anticipated by the statements mentioned in the press release.Factors such as the development of general economic conditions affecting our business, future market conditions, our ability to maintain cost advantages, uncertainty with respect to earnings, corporate actions, client concentration, reduced demand, liability or damages in our service contracts, unusual catastrophic loss events, war, political instability, changes in government policies or laws, legal restrictions impacting our business, impact of pandemic, epidemic, any natural calamity and other factors that are naturally beyond our control, changes in the capital markets and other circumstances may cause the actual events or results to be materially different, from those anticipated by such statements. CleverTap does not make any representation or warranty, express or implied, as to the accuracy, completeness or updated or revised status of such statements. Therefore, in no case whatsoever will CleverTap and its affiliate companies be liable to anyone for any decision made or action taken in conjunction Contact Details Sony Shetty sony@clevertap.com Company Website https://clevertap.com/

December 19, 2022 07:59 AM Eastern Standard Time

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New York State Department of Agriculture and Markets Orders NYC to Drop Foie Gras Sales Ban

Catskill Foie Gras Collective

Hudson Valley duck farmers, organized as the Catskill Foie Gras Collective, announced today that the New York State Department of Agriculture and Markets has ruled that NYC’s proposed ban on the sale of foie gras in NYC restaurants and retail stores violates State law. The Department has issued an Order directing that New York City “immediately comply with the provisions of Section 305-a of the Agriculture and Markets Law” and refrain from taking any action “that would restrict [the farmers’] ability to sell their product in the New York City market.” Agriculture and Markets Law § 305-a prohibits municipalities, like New York City, from enacting laws that unreasonably restrict farming operations in certified agricultural districts. The Hudson Valley duck farms are located within certified agricultural districts. The Department issued its Order after investigating the farmers’ complaint that NYC’s sales ban, which is known as Local Law 202, would unreasonably restrict their operations. “After reviewing our complaint, the Department of Agriculture has determined the City’s proposed actions do, in fact, violate New York State Law,” said Marcus Henley, a spokesperson for the Catskill Foie Gras Collective. “We are extremely grateful that the Department has taken this action, as hundreds of Sullivan County farm worker jobs were hanging in the balance.” Local Law 202 would have become effective on November 25, 2022, but in a separate lawsuit, a Manhattan judge issued a preliminary injunction that enjoins the City from enforcing the law pending further proceedings in that suit. Had Local Law 202 gone into effect at that time, the sales ban would have caused millions of dollars in revenue loss to the State, New York City, restaurants, wholesale distributors, retail store owners, and related transportation companies. “On a broader scale, the order stops local municipalities from establishing a dangerous precedent of dictating to us what farmers can grow and what people can eat,” added Henley. “It’s great news for farmers and fine diners everywhere.” Proponents for the sales ban, including animal rights groups, mistakenly claim that ducks are treated inhumanely during the foie gras production process. Hudson Valley Foie Gras and La Belle Farms respond that their ducks are well cared for, are allowed to roam freely, and are processed in a government-inspected facility, strictly adhering to animal welfare and federal regulations. Both farms produce foie gras using a special hand-feeding method, like no other farm in the world, so as not to harm the ducks. “These well-funded groups are reactionary and powerful, often times acting without knowing all the facts,” said Sergio Saravia, President of La Belle Farms. “We welcome politicians and reporters to visit our poultry farms and see, firsthand, the farming practices we have in place.” New York City has thirty days to challenge the Department’s Order by filing a court proceeding in Albany County. “We hope the City will accept the Order given the Department’s authority and expertise enforcing the Agriculture and Markets Law, but we will continue to fight to protect our farms if the City decides to spend even more taxpayer dollars on taking the matter to court in Albany.” For more information about foie gras production visit: https://foiegrasfacts.org. About Catskill Foie Gras Collective: The Catskill Foie Gras Collective is comprised of Hudson Valley Foie Gras and La Belle Farm, the main producers of foie gras to restaurants and retail food stores. The collective serves as a resource for factual information and independent articles about our farming. For more information, visit: https://foiegrasfacts.org/ Contact Details Lynn Munroe +1 845-548-1211 lynn@maracaibomedia.com Company Website https://foiegrasfacts.org/

December 15, 2022 11:58 AM Eastern Standard Time

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A Holiday Gift Selection Curated by Industrial Designers: Kearney’s PERLab Releases Its Annual Gift Guide

Kearney

· 20 items across 6 gifting categories selected from a product engineer’s viewpoint · What makes these gifts so cool? Descriptions of/reasons for each choice · Key criteria: inclusivity and sustainability · High tech values prevail, even in apparel and footwear categories Today global management consulting firm Kearney’s Product Excellence and Renewal Lab ( PERLab ), the firm’s industrial redesign practice, released its annual Holiday Gift Guide 2022, a connoisseur-worthy roundup of the season’s hottest tools, toys and togs selected from an industrial designer’s perspective. The guide assesses 20 top products across six archetypal recipient categories, with succinct descriptions as well as rationale for suitability along criteria such as design, inclusiveness, sustainability, and technological wizardry. “Despite inflationary belt tightening, this holiday season still holds a fascination with getting the perfect gift for that ultra-discriminating loved one,” said Bharat Kapoor, Kearney partner and global lead of PERLab. “After unending debates and loads of products to choose from, we’ve selected an extraordinary array of the gifts we loved the most, across a half-dozen categories, which we think would awe any lucky recipient.” PERLab’s Holiday Gift Guide 2022 includes gifts for a wide range of design-conscious people, including: - The Fitness Fanatic - The Homebody - The Tech Connoisseur - The Adventurer - The Discerning Child - The Beauty Product Aficionado “This season I honor my own background, growing up in a family business surrounded by electronics and gadgets. I could never resist taking apart products and building them back,” noted Bharat Kapoor. “So it’s a childhood dream come true to be running PERLab, where our engineers and designers spend every day taking products, deconstructing them, and reimagining them around principals of good design, sustainability and inclusivity. Symbolic of this, our gift guide bears the hallmarks of our PERLab approach, as we share our list of the most impressive high-design and high-tech products we’ve come across. In doing so, we especially hope to instill an interest in the design of great products in younger generations.” # # # A copy of the PERLab Holiday Gift Guide 2022 is available here. About PERLab Kearney’s Product Excellence and Renewal Lab ( PERLab ) is the firm’s industrial redesign practice. PERLab helps our clients make the products that customers fall in love with. It's a design-driven approach to gross margin transformation that offers end-to-end capabilities – we can support growth at any point in a product’s life cycle. Our experts in product design, product development, sustainability, user experience, industrial design, IoT, consumer insights, product engineering, packaging design, and manufacturing excellence help organizations disrupt markets and leapfrog the competition. PERLab has studios in Chicago, Stuttgart, and Bengaluru, with clients ranging from Fortune 500 to PE portfolio companies. Kearney is a leading global management consulting firm. For nearly 100 years, we have been the trusted advisor to C-suites, government bodies, and nonprofit organizations. Our people make us who we are. Driven to be the difference between a big idea and making it happen, we help our clients break through. Contact Details Meir Kahtan +1 917-864-0800 mkahtan@rcn.com Company Website https://www.kearney.com

December 15, 2022 10:53 AM Eastern Standard Time

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Giant Sequoia Lands Coalition Gains Momentum in Fight to Protect Giant Sequoias Threatened by Unprecedented Wildfire Risk

Giant Sequoia Lands Coalition

Officials from the State of California, USDA Forest Service (Forest Service), National Parks Service (NPS), Tule River Indian Tribe of California and Save the Redwoods League ‒ all members of the Giant Sequoia Lands Coalition ‒ announced today that they have made significant progress to restore the giant sequoia range and help protect it from severe wildfires. In its first year of large-scale collaboration, the Coalition far exceeded its goals, treating 4,257 acres ‒ more than double the acres originally targeted for restoration in 2022 ‒ in 36 of approximately 80 groves. Members also planted more than 248,000 native conifer seedlings, including giant sequoias, in groves that had burned in recent years. The Coalition gathered at Calaveras Big Trees State Park today to issue a progress report on the work conducted throughout 2022 by the public and non-governmental organizations. Giant sequoias are the largest trees in the world and severe wildfires have killed approximately 20% of the mature trees since 2015. The two federal agencies that own and manage the majority of giant sequoia lands ‒ USDA Forest Service and National Park Service ‒ implemented emergency actions this summer to accelerate the pace and scale of work. “An unprecedented crisis demands an unprecedented response,” said Jessica Morse, deputy secretary for forest and wildland resilience, California Natural Resources Agency, which houses the California State Parks system. “Federal, state, nonprofit and tribal partners have teamed up to protect critical old-growth giant sequoia groves. Unprecedented funding and a shift in government business practices – like deploying emergency authorities for the National Environmental Policy Act – have enabled us to scale and speed up crucial resilience projects. The loss of more than 10,000 giant sequoias is a somber testimony to the severity of the crisis. These resilience projects will make the difference between these monarch trees surviving or succumbing to the extreme climate pressures they face." Additional highlights from the 2022 progress report include: Collaboration to successfully protect Placer County Big Trees Grove in Tahoe National Forest from the Mosquito wildfire and Mariposa Grove of Giant Sequoias in Yosemite National Park from the Washburn wildfire; Research lead by Coalition partners and their academic and nonprofit affiliates continued to investigate sequoia health and changing ecology, documenting new phenomena driving fire behavior and tree mortality and completing post-fire assessments Public outreach and education included electronic and print publications, community meetings, webinars, field trips, media events and news releases that resulted in more than 10,000 stories. The Coalition’s work in 2022 was conducted by 824 people at a cost of $10.5 million. The complete progress report is available here. “How the giant sequoia species emerges from this existential threat will be determined by the choices that we make now. We, collectively, must take responsibility for what happens next,” said Sam Hodder, president and CEO of Save the Redwoods League. “We, again, urge elected officials and policymakers to take further action to provide funding and personnel, enact policy changes and help us reduce fuels now so we can address the problem at scale.” The members of the Giant Sequoia Lands Coalition are: National Park Service, represented by Sequoia and Kings Canyon National Parks and Yosemite National Park USDA Forest Service, represented by the Sequoia National Forest, Giant Sequoia National Monument, Sierra National Forest, and Tahoe National Forest Bureau of Land Management, stewards of the Case Mountain Extensive Recreation Management Area Tule River Indian Tribe of California, stewards of all or parts of five sequoia groves California State Parks, stewards of Calaveras Big Trees State Park California Department of Forestry and Fire Protection (Cal Fire), stewards of Mountain Home Demonstration State Forest University of California, Berkeley, stewards of Whitaker’s Forest Tulare County, stewards of Balch Park Save the Redwoods League, stewards of parts of two sequoia groves (special coalition affiliate member) Note to media: Images of GSLC projects and places are available for download here. * * * About Giant Sequoia Lands Coalition The Giant Sequoia Lands Coalition (GSLC) is a collaboration of public and non-governmental organizations with a shared commitment aimed at the conservation of giant sequoia grove ecosystems. The Coalition is comprised of all federal, tribal, state, local agencies and groups that manage giant sequoia groves in public, tribal or private non-profit ownership. Affiliate partners include select federal and state conservation agencies, non-governmental organization conservation groups and academic research partners with a shared commitment to protect giant sequoias and their ecosystems from emerging threats associated with climate change and the extended absence of natural, low-severity wildfire. More information at giantsequoias.org. # # # The Giant Sequoia Lands Coalition (GSLC) is a collaboration of public and non-governmental organizations with a shared commitment aimed at the conservation of giant sequoia grove ecosystems. The Coalition is comprised of all federal, tribal, state, local agencies and groups that manage giant sequoia groves in public, tribal or private non-profit ownership. Affiliate partners include select federal and state conservation agencies, non-governmental organization conservation groups and academic research partners with a shared commitment to protect giant sequoias and their ecosystems from emerging threats associated with climate change and the extended absence of natural, low severity wildfire. More information at giantsequoias.org. Contact Details Landis Communications Inc. Robin Carr +1 415-766-0927 redwoods@landispr.com Company Website https://giantsequoias.org

December 14, 2022 04:24 PM Pacific Standard Time

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Judge Finds Bausch Health Spin-Off Not “Imminent;” Orders Bausch Health to Provide Advance Notice of Intent to Spin in Order to Allow Injunction Challenge

Rolnick Kramer Sadighi LLP (RKS)

Yesterday, New Jersey Chancery Court Judge Margaret Goodzeit declined to set a preliminary injunction hearing to enjoin Bausch Health Companies Inc. (“Bausch Health”) from completing its corporate spin-off of its vision care business (“Bausch + Lomb”) after Bausch Health expressly represented to the Court that it has not yet determined that the last step of the spin-off — a share dividend of its Bausch + Lomb shares — will occur. Given Bausch Health’s representation that the dividend is merely “speculative” and that there will be at least 55 days’ public notice if the dividend is going to proceed, the Court found that it was not appropriate to set an injunction hearing at this time. However, in order to protect the potential judgment creditor plaintiffs in the event Bausch Health decides to change course, the Court ordered Bausch Health to provide Rolnick Kramer Sadighi LLP (“RKS”), attorneys representing plaintiffs in the case, “at least 14 days notice of any action, vote, or decision which could result in the modification or elimination of the 55 day advance public notice...” “Although we are relieved that Bausch represented that the spin-off was not imminent and might not happen at all, we are pleased that the Court ordered Bausch to provide timely advance notice of any attempt to proceed with its ill-conceived spin-off," said Larry Rolnick of RKS. "Timely advance notice will help ensure that creditors have a meaningful opportunity to obtain an injunction," he added. The Court’s ruling means that if Bausch Health decides to complete the divestiture of its Bausch + Lomb assets through a share dividend or any other means, RKS’s clients will have a court-ordered opportunity to seek to enjoin the transaction. About RKS: Rolnick Kramer Sadighi, LLP (RKS) provides strategic litigation solutions for the investment management community. Launched in 2020, RKS is a premier securities litigation boutique dedicated to serving the investment management industry, including hedge funds, mutual funds, private equity, credit, real estate, and structured finance firms. For more information, visit RKS online: https://www.rksllp.com/. Contact Details Arielle Goren +1 212-717-5863 agoren@kivvit.com Company Website https://www.rksllp.com/

December 14, 2022 08:35 AM Eastern Standard Time

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