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Newswire
Bank of Georgetown Announces Shareholder Approval of Merger Agreement with United Bankshares, Inc.

WASHINGTON, April 28, 2016 (GLOBE NEWSWIRE) — Bank of Georgetown (the “Bank”) announced today that on April 21, 2016, the shareholders of Bank of Georgetown overwhelmingly approved the Agreement and Plan of Reorganization (“Merger Agreement”) between the Bank and United Bankshares, Inc.

All of the required regulatory approvals have been received, and the merger is expected to have an effective closing date of June 3, 2016.

“We are extremely pleased with the overwhelmingly positive response from our shareholders to move forward with the merger,” said Bank of Georgetown Chairman, President and CEO Michael Fitzgerald. “United Bank is a proven first-class community bank, and we look forward to being a part of the largest community bank headquartered in the nation’s capital.”

About Bank of Georgetown Bank of Georgetown, a privately-owned community bank, specializes in helping businesses and individuals achieve long-term success.  It combines personalized loan, deposit and cash management solutions with a commitment to accessibility, flexibility and superior service, resulting in an unmatched banking experience for its clients.  Founded in 2005 by Chairman, President and CEO Mike Fitzgerald and the late Curtin Winsor III, the Bank has over $1 billion in assets and 11 branches throughout the Washington metro area.  Visit www.bankofgeorgetown.com for more information.

Forward Looking Statements

The statements contained in this release that are not historical facts are “forward-looking statements” based on management’s current expectations and beliefs concerning future developments.  These forward-looking statements involve inherent risks and uncertainties.  Specific relevant risks include whether other closing conditions are met and whether the transaction with United Bankshares, Inc. will be completed.  Bank of Georgetown cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made.  Bank of Georgetown undertakes no obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

 

CONTACT: Contact: 
Michael Fitzgerald
Chairman, President and CEO 
Bank of Georgetown
202-355-1200, mfitzgerald@bankofgeorgetown.com
Newswire
Cohen Milstein Sellers & Toll PLLC Announces the Investigation of DS Healthcare Group, Inc.

PALM BEACH GARDENS, Fla., April 25, 2016 (GLOBE NEWSWIRE) — Cohen Milstein Sellers & Toll PLLC, a leading national firm with offices in Palm Beach Gardens, Florida, is conducting an investigation to determine whether South Florida-based DS Healthcare Group, Inc. (“DS Healthcare” or the “Company”) and certain of its officers and directors made false and misleading statements and/or omissions in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. 

A class action lawsuit was filed in the U.S. District Court for the Southern District of Florida by another law firm on behalf of purchasers of the common stock of DS Healthcare Group, Inc. (NASDAQ:DSKX) between May 15, 2014 and April 3, 2016, inclusive (the “Class Period”). 

The complaint alleges that DS Healthcare and certain of its officers and directors (“Defendants”) misrepresented and/or failed to disclose that: (1) the Company improperly recognized and reported revenue in violation of GAAP; (2) the Company did not properly record or disclose certain equity transactions in violation of GAAP; (3) the Company lacked adequate internal controls over accounting and financial reporting; and (4) as a result of the foregoing, the Company’s financial statements, as well as Defendants’ statements about DS Healthcare’s business, operations, and prospects, were false and misleading.

On March 23, 2016, the Company disclosed that the Company’s financial statements for the second and third quarters ended June 30, and September 30, 2015 “should no longer be relied upon because of certain errors in such financial statements.”  The Company reported that this was the decision reached the previous week by the Company’s Audit Committee after consulting with DS Healthcare’s auditor, Marcum LLP.  DS Healthcare shares fell from $1.33 to $0.86 on March 24 in heavy trading.

On March 28, DS Healthcare issued an update disclosing the amounts and other details of the errors that necessitated a restatement.  The price of DS Healthcare shares fell from $0.81 to $0.72 on March 29.

The Company filed a form 8-K on April 3, which disclosed details concerning the nature of the alleged misconduct of former Chairman, CFO and President of the Company, Daniel Khesin, both during and after the Class Period, as well as the basis for his termination stating, in relevant part:

Action for [Khesin’s] termination for cause was provided at the recommendation of independent legal counsel that specializes in SEC investigative work, which had been engaged by the audit committee, that demonstrated that Mr. Khesin engaged in a series of questionable stock transactions without board authorization, engaged in self-dealing and potentially engaged in transactions designed to artificially inflate the price of DSKX common stock.

*     *     *

The Company further reports that on April 2, 2016, Mark Brockelman has tendered his resignation as the Company’s Chief Financial Officer.

NASDAQ halted trading in DS Healthcare shares on April 4.  After the market close on April 6, the Company filed another 8-K reporting that:

On March 31, 2016, DS Healthcare shareholders have removed the Directors Michael Pope, Karl Sweis, and Dianne Rosenfeld in connection with concerns regarding violations of various obligations to shareholders and the resulting rapid decline in DS Healthcare securities and ensuing liabilities.

Cohen Milstein encourages all investors who purchased DS Healthcare common stock between May 15, 2014 and April 3, 2016, or former employees with information concerning this matter to contact the firm.

If you are a DS Healthcare shareholder and would like to discuss your right to recover for your economic loss, you may, without any cost or obligation, call Cohen Milstein’s Managing Partner, Steven J. Toll at (888) 240-0775 or (202) 408-4600, or email him at stoll@cohenmilstein.com.  If you wish to serve as lead plaintiff, you must move the Court no later than May 31, 2016 to request appointment.  Any member of the proposed class may retain Cohen Milstein or other attorneys to serve as your counsel in this action, or you may do nothing and remain an absent class member.

Cohen Milstein has significant experience in prosecuting investor class actions and actions involving securities fraud, and is active in major litigation pending in federal and state courts throughout the nation.  Cohen Milstein has taken a lead role in numerous important cases on behalf of defrauded investors, and has been responsible for a number of outstanding recoveries which, in the aggregate, total over two billion dollars.  Prior results do not guarantee a similar outcome.  For more information visit www.cohenmilstein.com.

If you have any questions about this notice or the action, or with regard to your rights, please contact either of the following:
Steven J. Toll, Esq.
Ryan Marchbank
Cohen Milstein Sellers & Toll PLLC
Telephone:  (888) 240-0775 or (202) 408-4600
Email:  stoll@cohenmilstein.comrmarchbank@cohenmilstein.com

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Newswire
Cohen Milstein Sellers & Toll PLLC Announces the Investigation of Rockwell Medical, Inc.

WASHINGTON, April 07, 2016 (GLOBE NEWSWIRE) — Cohen Milstein Sellers & Toll PLLC is conducting an investigation to determine whether Rockwell Medical, Inc. (“Rockwell” or the “Company”) and certain of its officers and directors made false and misleading statements and/or omissions in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. 

A class action lawsuit was filed in the U.S. District Court for the Southern District of New York by another law firm on behalf of purchasers of the common stock of Rockwell Medical, Inc. (NASDAQ:RMTI) between September 9, 2015 and February 29, 2016, inclusive (the “Class Period”). 

The Class Period begins on September 9, 2015, with Rockwell’s announcement of the U.S. commercial launch of Triferic, claiming it “is the only FDA approved iron product indicated to replace iron and maintain hemoglobin in hemodialysis patients in the United States.”

The complaint alleges that Rockwell and certain of its officers and directors (“Defendants”) misrepresented and/or failed to disclose that: (1) the primary product offering for Triferic will be in a powder packet packaging, which the FDA has not yet approved; (2) Rockwell is seeking to obtain transitional add-on payment reimbursement for Triferic with the Centers for Medicare and Medicaid Services instead of bundled reimbursement; and (3) as a result, Defendants’ statements about the Company’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis.

The Class Period ends on February 29, 2016, when Rockwell released fourth quarter results that were well below expectations due to “immaterial” sales of Triferic.  The Company explained that it was still awaiting FDA approval of a powder packet form of Triferic, and that this unapproved packaging—not the already approved ampule version—was in fact intended to be the “primary product offering” of Triferic.  The price of Rockwell shares fell from $9.60 to $6.31 on March 1.

Cohen Milstein encourages all investors who purchased Rockwell common stock between September 9, 2015 and February 29, 2016, or former employees with information concerning this matter to contact the firm.

If you are a Rockwell shareholder and would like to discuss your right to recover for your economic loss, you may, without any cost or obligation, call Cohen Milstein’s Managing Partner, Steven J. Toll at (888) 240-0775 or (202) 408-4600, or email him at stoll@cohenmilstein.com.  If you wish to serve as lead plaintiff, you must move the Court no later than May 6, 2016 to request appointment.  Any member of the proposed class may retain Cohen Milstein or other attorneys to serve as your counsel in this action, or you may do nothing and remain an absent class member.

Cohen Milstein has significant experience in prosecuting investor class actions and actions involving securities fraud, and is active in major litigation pending in federal and state courts throughout the nation.  Cohen Milstein has taken a lead role in numerous important cases on behalf of defrauded investors, and has been responsible for a number of outstanding recoveries which, in the aggregate, total over two billion dollars.  Prior results do not guarantee a similar outcome.  For more information visit www.cohenmilstein.com.

If you have any questions about this notice or the action, or with regard to your rights, please contact either of the following:
Steven J. Toll, Esq.
Ryan Marchbank
Cohen Milstein Sellers & Toll PLLC
1100 New York Avenue, N.W.
Suite 500 East
Washington, D.C. 20005
Telephone:  (888) 240-0775 or (202) 408-4600
Email: stoll@cohenmilstein.comrmarchbank@cohenmilstein.com

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