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TCBI – TCBI NEWS: The Klein Law Firm Initiates an Investigation Involving Possible Securities Fraud Violations by Officers of Texas Capital Bancshares, Inc.

NEW YORK, May 29, 2023 /PRNewswire/ — The Klein Law Firm announces that it is investigating allegations that Texas Capital Bancshares, Inc. (“Texas Capital “) (NASDAQ: TCBI) violated federal securities laws.

CURRENT INVESTIGATION DETAILS: On March 29, 2021, shares of Texas Capital stock dropped 13% on unusually heavy trading volume as prime brokers associated with now-defunct family office, Archegos Capital Management, unwound large U.S. stock positions linked to the fund. A Bloomberg article published on November 16, 2021 detailed how Archegos built up a previously undisclosed position equal to 20% of Texas Capital prior to the margin calls that forced Archegos’ liquidation. According to the article, Texas Capital was aware of the large position held by Archegos while it raised additional capital from investors in February 2021.

HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the potential claims on behalf of TCBI investors, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link:

https://www.kleinstocklaw.com/pslra-1/texas-capital-lawsuit-loss-submission-form?wire=4

ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
J. Klein, Esq.
535 Fifth Avenue
4th Floor
New York City, NY 10017
[email protected]
Telephone: (212) 616-4899
www.kleinstocklaw.com

SOURCE The Klein Law Firm

PHAT – PHAT NEWS: The Klein Law Firm Initiates an Investigation Involving Possible Securities Fraud Violations by Officers of Phathom Pharmaceuticals, Inc.

NEW YORK, May 29, 2023 /PRNewswire/ — The Klein Law Firm announces that it is investigating allegations that Phathom Pharmaceuticals, Inc. (“Phathom”) (NASDAQ: PHAT) violated federal securities laws.

CURRENT INVESTIGATION DETAILS: On August 2, 2022, before market hours, Phathom issued a press release entitled “Phathom Pharmaceuticals Reports Second Quarter 2022 Financial Results and Provides Business Updates” which announced that “we detected trace levels of a nitrosamine in vonoprazan drug product in our post-approval testing as we prepared for commercial launch.” Further, the press release announced that “[t]he Company is working with the FDA and plans to obtain approval of and implement an additional test method, specification, including a proposed acceptable intake limit, and additional controls to address this impurity prior to releasing our first vonoprazan-based products to the market.” Finally, Phathom announced that “[t]hese additional activities will result in a delay of the planned VOQUEZNA DUAL PAK and VOQUEZNA TRIPLE PAK product launches.”

On this news, Phathom’s stock price fell $2.61 per share, or 28%, to close at $6.46 per share on August 2, 2022.

HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the potential claims on behalf of PHAT investors, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link:

https://www.kleinstocklaw.com/pslra-1/phathom-lawsuit-loss-submission-form?wire=4

ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
J. Klein, Esq.
535 Fifth Avenue
4th Floor
New York City, NY 10017
[email protected]
Telephone: (212) 616-4899
www.kleinstocklaw.com

SOURCE The Klein Law Firm

RETA – RETA NEWS: The Klein Law Firm Initiates an Investigation Involving Possible Securities Fraud Violations by Officers of Reata Pharmaceuticals, Inc.

NEW YORK, May 29, 2023 /PRNewswire/ — The Klein Law Firm announces that it is investigating allegations that Reata Pharmaceuticals, Inc. (“Reata” or “the Company”) (NASDAQ: RETA) violated federal securities laws.

CURRENT INVESTIGATION DETAILS: On May 10, 2023, Reata issued a press release announcing its financial results for the first quarter of 2023. Among other items, Reata announced its decision to discontinue studies for its kidney disease candidate bardoxolone, which the Company had previously advanced as one of its lead assets in partnership with Blackstone Life Sciences and Kyoma Kirin. On this news, Reata’s stock price fell $14.99 per share or 14.23%, to close at $90.38 per share on May 10, 2023.

HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the potential claims on behalf of RETA investors, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link:

https://www.kleinstocklaw.com/pslra-1/reata-lawsuit-loss-submission-form?wire=4

ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
J. Klein, Esq.
535 Fifth Avenue
4th Floor
New York City, NY 10017
[email protected]
Telephone: (212) 616-4899
www.kleinstocklaw.com

SOURCE The Klein Law Firm

UBER – Uber executive says European taxis joining platform

AMSTERDAM, May 29 (Reuters) – Uber (UBER.N) is seeing an influx of European taxi drivers joining its platform, an executive told Reuters, a surprising development given the history of tensions between the company and the traditional taxi industry.

In an interview, Uber’s Anabel Diaz, who oversees the company’s mobility (ride-sharing) business in EMEA, said business is strong in Europe despite lingering uncertainty about gig economy labour rules.

Europe, the Middle East and Africa “are growing fairly nicely with numbers that go from 10% to more than 50% growth in some of our geographies,” she said.

Uber’s biggest European markets are Britain, France, Germany and Spain.

These have “very solid business performance with a lot of innovation, including development of our taxi solution in all of those countries,” she said.

Uber says European taxi drivers’ usage of the app has doubled in the year ended April 30, from 5% to 10% of all rides. Taxi drivers who use the app consider it a supplement to their curb-side hailing business. All Uber trips must be booked online.

Conflict between taxis and Uber has lessened due to rules requiring private Uber drivers to have a commercial license.

Diaz said the company had initially struggled with staffing after the COVID-19 pandemic.

“But right now drivers are back on the platform in all-time high numbers, frankly globally, and that’s resulting in better service levels,” she said.

Uber reports only group-level figures for its traditional ride-sharing business and for its delivery service (Uber Eats) — each account for roughly half of sales. Europe accounted for $2.1 billion in group revenues in the three months ended March 31, about 24% of the company’s total, making it the company’s largest market outside the U.S.

Rules over when gig workers must be considered employees remain in flux in Europe, with different models in place in Spain, Germany and Britain. The E.U. countries will try to agree compromise rules at a meeting of the European Council in June.

Uber argues its drivers should be contractors. But “the reality is we will adapt …(and) business will find a way forward,” regardless, Diaz said.

Reporting by Toby Sterling; Editing by David Gregorio

Our Standards: The Thomson Reuters Trust Principles.

NVDA – AI means everyone can now be a programmer, Nvidia chief says

TAIPEI, May 29 (Reuters) – Artificial intelligence means everyone can now be a computer programmer as all they need to do is speak to the computer, Nvidia Corp (NVDA.O) CEO Jensen Huang said on Monday, hailing the end of the “digital divide”.

Nvidia has surged to become the world’s most valuable listed semiconductor company as a major supplier of chips and computing systems for artificial intelligence.

The company last week forecast second-quarter revenue more than 50% above Wall Street estimates and said it was boosting supply to meet surging demand for its artificial-intelligence chips, which are used to power ChatGPT and many similar services.

Speaking to thousands of people at the Computex forum in Taipei, Huang, who was born in southern Taiwan before his family emigrated to the United States when he was a child, said AI was leading a computing revolution.

“There’s no question we’re in a new computing era,” he said in a speech, occasionally dropping in words of Mandarin or Taiwanese to the delight of the crowd.

“Every single computing era you could do different things that weren’t possible before, and artificial intelligence certainly qualifies,” Huang added.

“The programming barrier is incredibly low. We have closed the digital divide. Everyone is a programmer now – you just have to say something to the computer,” he said.

“The rate of progress, because it’s so easy to use, is the reason why it’s growing so fast. This is going to touch literally every single industry.”

Nvidia’s chips have helped companies such as Microsoft Corp (MSFT.O) add human-like chat features to search engines such as Bing.

Huang demonstrated what AI could do, including getting a programme to write a short pop song praising Nvidia with only a few words of instruction.

He unveiled several new applications, including a partnership with the world’s largest advertising group WPP (WPP.L) for generative AI-enabled content for digital advertising.

Nvidia has strained to meet demand for its AI chips, with Tesla Inc TSLA.O CEO Elon Musk, who is reportedly building out an artificial-intelligence startup, last week telling an interviewer that the graphics processing units (GPUs) are “considerably harder to get than drugs”.

Reporting by Ben Blanchard; editing by Jason Neely

Our Standards: The Thomson Reuters Trust Principles.