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SHAREHOLDER ALERT: WeissLaw LLP Reminds TORC and VSLR Shareholders About Its Ongoing Investigations

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NEW YORK, July 24, 2020 /PRNewswire/ —

If you own shares in any of the companies listed above and
would like to discuss our investigations or have any questions concerning
this notice or your rights or interests, please contact:

Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY  10036
(212) 682-3025
(888) 593-4771
[email protected]

resTORbio, Inc. (NASDAQ: TORC)

WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of resTORbio, Inc. (NASDAQ: TORC) in connection with the proposed merger of the company with privately-held biopharmaceutical company Adicet Bio, Inc. (“Adicet”).  Under the terms of the merger agreement, Adicet will merge with a wholly-owned subsidiary of TORC in an all-stock transaction, with the equityholders of Adicet becoming owners of 75% of the outstanding common stock of TORC upon the close of the merger.  The remaining 25% of the combined surviving company will be owned by former TORC shareholders.  If you own TORC shares and wish to discuss this investigation or your rights, please call us at one of the numbers listed above or visit our website:  https://weisslawllp.com/restorbio-inc/   

Vivint Solar, Inc. (NYSE: VSLR)

WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Vivint Solar, Inc. (NYSE: VSLR) in connection with the proposed acquisition of the company by Sunrun, Inc. (“RUN”).  Under the terms of the agreement, VSLR shareholders will be entitled to receive 0.55 shares of RUN common stock for each VSLR share that they own, representing implied per-share merger consideration of $23.35 based upon RUN’s July 23, 2020 closing price of $42.46.  If you own VSLR shares and wish to discuss this investigation or your rights, please call us at one of the numbers listed above or visit our website: http://www.weisslawllp.com/vslr-inc/

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Source: https://www.prnewswire.com:443/news-releases/shareholder-alert-weisslaw-llp-reminds-torc-and-vslr-shareholders-about-its-ongoing-investigations-301099686.html

Financial Express

NASA astronauts face final leg of SpaceX test flight: Coming home with a rare splashdown

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The astronauts’ homecoming will cap a two-month mission that ended a prolonged launch drought in the US, which has relied on Russian rockets to ferry astronauts to the space station since the end of the shuttle era. (Pic: SpaceX/Twitter)

A pair of NASA astronauts face the final and most important part of their SpaceX test flight: returning to Earth with a rare splashdown. Doug Hurley and Bob Behnken took part in a farewell ceremony Saturday at the International Space Station, several hours ahead of their planned departure on a SpaceX Dragon capsule.

Despite approaching Hurricane Isaias, NASA said the weather looks favourable for a Sunday afternoon splashdown in the Gulf of Mexico near Panama City, Florida. It will be the first splashdown for astronauts in 45 years. The last time was following the joint US-Soviet mission in 1975 known as Apollo-Soyuz.

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The astronauts’ homecoming will cap a two-month mission that ended a prolonged launch drought in the US, which has relied on Russian rockets to ferry astronauts to the space station since the end of the shuttle era.

In launching Hurley and Behnken from NASA’s Kennedy Space Center on May 30, SpaceX became the first private company to send people into orbit. Now SpaceX is on the verge of becoming the first company to bring people back from orbit. The hardest part was getting us launched, but the most important is bringing us home, Behnken said.

A successful splashdown, Behnken said, will bring US-crew launching capability ‘full circle’.

Space station commander Chris Cassidy, who will remain on board with two Russians until October, presented Hurley with the small US flag left behind by the previous astronauts to launch to the space station from US soil, in July 2011. Hurley was the pilot of that final shuttle mission.

The flag which also flew on the first shuttle flight in 1981 became a prize for the company that launched astronauts first. Elon Musk’s SpaceX easily beat Boeing, which isn’t expected to launch its first crew until next year and will land in the US Southwest. The flag has one more flight after this one: to the moon on NASA’s Artemis program in the next few years.

“We’re a little sad to see them go,” Cassidy said, but very excited for what it means to our international space program to add this capability of commercial crew capsules. The next SpaceX crew flight is targeted for the end of September. Hurley and Behnken also are bringing back a sparkly blue and purple dinosaur named Tremor. Their young sons chose the toy to accompany their fathers on the historic mission.

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Source: https://www.financialexpress.com/lifestyle/science/nasa-astronauts-face-final-leg-of-spacex-test-flight-coming-home-with-a-rare-splashdown/2042221/

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ICEA says mobile firms commit Rs 11,000 cr investment under PLI scheme, to surpass manufacturing estimates by 2 to 2.5 times

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In terms of revenue, Apple accounts for 37 per cent and Samsung 22 per cent for global sales of mobile phones and the PLI scheme is expected to increase their manufacturing base manifold in India.

Industry body ICEA, which represents top mobile phone makers like Apple, Foxconn, Wistron, Lava, etc, on Saturday said companies have committed investments worth Rs 11,000 crore under the PLI scheme and they will surpass manufacturing estimates by 2 to 2.5 times.

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Major global players Samsung Wistron, Pegatron, Foxconn and Hon Hai and Indian companies such as Lava, Dixon, Micromax, Padget Electronics, Sojo, UTL and Optiemus have applied for benefits under the production-linked incentive (PLI) scheme.

According to the estimates of India Cellular and Electronics Association (ICEA), mobile phone companies will increase devices production in the country to around Rs 27.5 lakh crore on higher side under the PLI compared to government’s announcement of Rs 11 lakh crore.

Union telecom and IT minister Ravi Shankar Prasad has announced that as many as 22 domestic and international firms have lined up with proposals for mobile phones production worth Rs 11 lakh crore, which have potential to create direct and indirect jobs for around 12 lakh people over the next five years.

“Applications received under the PLI scheme with cumulative investment commitments worth Rs 11,000 crore, total production of mobile phones at Rs 11.50 lakh crore with 60 per cent production reserved for exports, generation of 3 lakh direct jobs…considered to be an extraordinary feat for the government’s commitments towards Make in India and Aatmanirbhar Bharat objectives,” ICEA Chairman Pankaj Mohindroo said in a statement.

He said that enhancing domestic value addition in the production locally to grow to 35-40 per cent from the current 15-20 per cent is also a major move towards creating self-reliant India. “These were conservative numbers and the industry will surpass these by 2-2.5 times,” Mohindroo said. At present mobile phone production in the country is estimated to be over Rs 2 lakh crore per annum, employing around 5-6 lakh people.

Prasad said that a total application under the PLI scheme has come from various countries including Taiwan, South Korea, Germany, Austria, etc. “The benchmark for international companies was that they make mobile phones priced at or above Rs 15,000. International companies that have applied are Samsung, Foxconn Hon Hai, Rising Star, Wistron and Pegatron,” Prasad said.

Foxconn Hon Hai, Wistron and Pegatron are contract manufacturers for Apple iPhones.

In terms of revenue, Apple accounts for 37 per cent and Samsung 22 per cent for global sales of mobile phones and the PLI scheme is expected to increase their manufacturing base manifold in the country, an official statement issued by the Ministry of Electronics and IT (Meity) said.

The minister further said these companies will make thousands of crores investments based on the approval of their proposal. The companies that have applied for components production of around Rs 45,000 crore include AT&S, Ascent Circuits, Visicon, Walsin, Sahasra, Vitesco and Neolync.

The government notified production-linked incentive scheme for large scale electronics manufacturing, the scheme for promotion of manufacturing of electronic components and semiconductors, and the modified electronics manufacturing clusters (EMC 2.0) scheme.

The government expects to attract Rs 1 lakh crore investment in the sector and sees a target manufacturing revenue potential of Rs 10 lakh crore by 2025. The fresh proposals have exceeded the government’s manufacturing revenue target but the final outcome will depend on the decision of the screening committee that will select projects eligible for incentives.

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Source: https://www.financialexpress.com/industry/icea-says-mobile-firms-commit-rs-11000-cr-investment-under-pli-scheme-to-surpass-manufacturing-by-2-to-2-5-times/2042222/

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Weather Alert: IMD issues yellow alert for 10 districts in Kerala 

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Kerala had been devastated by the worst floods in the last 100 years during August 2018 that claimed over 400 lives and razed several houses. (PTI)

The India Meteorological Department (IMD) has issued yellow alert for ten districts in Kerala for next four days indicating heavy rains in the region. The weatherman has predicted rains ranging from 6 cm to 20 cm at various districts till August 5.

The districts of Alappuzha, Kottayam, Ernakulam, Idukki, Thrissur, Malappuram, Kozhikode, Wayanad, Kannur and Kasaragod districts have been issued yellow alert.

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The IMD website also indicates the formation of a low pressure area over north Bay of Bengal towards the later part of the first week of August and says its likely to intensify over northwest bay of Bengal off Odisha coast at the end of the first week.

Earlier, on July 29, a red alert was sounded in the high range Idukki district by the IMD with widespread extremely heavy rains predicted as parts of the state received heavy showers inundating low lying areas and partially
disrupting rail traffic.

Kerala had been devastated by the worst floods in the last 100 years during August 2018 that claimed over 400
lives and razed several houses. Last year, the state’s northern parts were flooded again in August as heavy rains and widespread landslides wreaked havoc, claiming over 120 lives.

A large number of people including women and children had lost their lives at Kavalapara in Malappuram and
Puthumala in Wayanad alone when landslides rocked the places.

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Source: https://www.financialexpress.com/lifestyle/science/weather-alert-imd-issues-yellow-alert-for-10-districts-in-kerala/2042214/

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