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They said their role was limited to that of typical corporate board members who participated in “routine” votes to ratify the management’s staffing and budget proposals. “Not a single document shows an individual director engaging in any unlawful conduct regarding the sale of prescription opioids or ordering anyone else to do so,” the Sacklers’ lawyers wrote. Healey, in a statement, called the motion “an attempt to avoid accountability.”. At least 35 states have cases pending against Purdue. Four have also named Sackler family members as defendants, including Richard Sackler, Theresa Sackler and Mortimer D.A. Sackler.
DUBAI types of vintage cufflinks (Reuters) - Dubai’s Emirates NBD said on Wednesday it will buy Turkey’s Denizbank from Russia’s Sberbank at a roughly 20 percent discount to a previously agreed price, after a steep fall in the Turkish lira, Under a new agreement reached with state-owned Sberbank, Dubai’s largest lender said it will buy Turkey’s fifth largest private bank for 15.48 billion lira ($2.8 billion), compared to the 14.6 billion lira announced in May, Although the deal’s lira value is higher, the dollar value when it was announced in May was put at the equivalent of $3.2 billion, about $400 million more that the new price..
The lira has tumbled over concerns about the Turkish central bank’s independence and Ankara’s worsening ties with Washington. The Denizbank deal comes against a backdrop of Turkey’s strained relations with Gulf states since Ankara stood by Qatar after the United Arab Emirates, Saudi Arabia and others accused Doha of supporting terrorism, a charge it denies. The transaction will help Emirates NBD diversify its business and establish itself as a leading bank in the region, the bank’s vice chairman Hesham Abdulla al-Qassim said in May.
For Russia’s biggest bank by assets, the sale of Sberbank’s largest asset outside Russia is part of a shift types of vintage cufflinks back to its home market, It bought Denizbank in 2012 for about $3.5 billion when it wanted to establish a presence abroad, For Emirates NBD, the revised deal represents a discount of roughly 20 percent, a spokesman for the bank told Reuters, without providing further details, Sberbank said it expected to receive $5 billion from the sale of Denizbank, including capital and debt..
Emirates NBD shares were up 6 percent at 1000 GMT after hitting their highest level since 2008 earlier in the session, while Sberbank was up 1.5 percent and Denizbank rose 3 percent. The sale price is based on Denizbank’s capital plus 5 percent, according to international financial reporting standards, Sberbank said. The bank added that it expected the deal to be closed by the end of the second quarter of 2019. “The negotiations are completed between the parties and the process of regulatory approvals are still going on. I do not know how long it would take but I hope it will finalize as soon as possible,” Denizbank’s chief executive Hakan Ates told reporters in Istanbul.
(Reuters) - Shares in Superdry Plc fell more than 11 percent on Wednesday after founder Julian Dunkerton narrowly forced his way back into the company, which sparked the exit of most of its board types of vintage cufflinks members, including top executives, Dunkerton, the former boss of Superdry, on Tuesday was voted back on the board by a slim margin and hours later was named interim chief executive officer after winning the backing of shareholders looking for a revival of the fashion group’s fortunes, The move did not sit well with most of Superdry’s board, which had opposed his comeback, Chief Executive Officer Euan Sutherland, who has been at the helm for five years, resigned immediately..
Dunkerton, who owns 18.4 percent of the equity, quit a year ago after a row over strategy. He takes issue in particular with Superdry’s product design and internet plans. Analysts said the resignations raised fears of more departures as the company deals with a share price that has dropped 64 percent over the past year following several profit warnings, the latest in December. “We would be more concerned if we see further significant departures from the retail board and operational management teams and view the recruitment of a heavyweight CFO as a priority,” Peel Hunt analysts said.
For a graphic on Superdry founder to return after profit warnings hit shares, see - tmsnrt.rs/2HWhCeJ, Analysts also said short-term disruptions were inevitable as Dunkerton steadies the ship and starts to enact his recovery plans, which will tack on costs as the company tries to jump-start revenue, Dunkerton and co-founder James Holder run a “Save Superdry” website, which highlights that Superdry lost about 865 million pounds of its value after Dunkerton types of vintage cufflinks left the board, Investec analysts downgraded their recommendation on the stock to “hold” from “buy”, adding that the resignation of all but one board member left the group in a “management and strategic vacuum”..