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News Breaks
July 2, 2014
16:25 EDTLAKELakeland Industries sees $380K charge on Brazil labor proceeding
Lakeland Industries disclosed that on June 26 Lakeland Brazil, a wholly-owned subsidiary of Lakeland Industries, received notice of a court judgment entered against it in a labor proceeding in Brazil in the amount of approximately $1,086,000. Based on the advice of Brazilian counsel handling the action, the company had not anticipated a judgment to be entered against Lakeland Brazil in this proceeding, if at all, in excess of $45,000, $R100,000, which amount was deemed not material and therefore not previously disclosed. The company added, "Lakeland Brazil is working with, and relying upon the advice of, new legal counsel and accountants in Brazil and intends to appeal the judgment on the basis that, among other things, the judgment is mathematically incorrect. Based on review of the case with our new legal counsel and based upon their assessments of our likelihood to prevail on appeal, the company will take a charge to earnings of $380,000, which is our estimate of what the outcome will ultimately be on this case." As a result of this and other recent developments in Brazil, Lakelandís Board of Directors has decided to explore all strategic options for Brazil.
News For LAKE From The Last 14 Days
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October 23, 2014
06:22 EDTLAKEEU to boost Ebola research with EUR 24.4M
The European Commission has today announced EUR 24.4M from the EU budget for urgently needed Ebola research. The funding will go to five projects, ranging from a large-scale clinical trial of a potential vaccine, to testing existing and novel compounds to treat Ebola. The money from Horizon 2020, the EU research and innovation program, will be provided via a fast-track procedure in order to start work as soon as possible. The Commission is also working with industry on the further development of vaccines, drugs and diagnostics for Ebola and other haemorrhagic diseases within the Innovative Medicines Initiative. The funding will be provided following proposals from teams across the EU and in numerous 3rd countries, which were evaluated by an independent group of experts. The Commission has also asked the European and Developing Countries Clinical Trials Partnership to include emerging epidemics of concern to Africa, including Ebola, in its work plan. This will allow to fund clinical trials on drugs, vaccines and diagnostics in upcoming calls. Drug companies that are working on experimental Ebola vaccines or treatments include Peregrine (PPHM), Tekmira (TKMR), Sarepta (SRPT), BioCryst (BCRX), Chimerix (CMRX) and NewLink Genetics (NLNK). Some companies that offer protective clothing and waste disposal include Lakeland Industries (LAKE), Alpha Pro Tech (APT) and Sharps Compliance (SMED).
October 22, 2014
06:54 EDTLAKEProtection equipment makers see sales rise amid Ebola situation, NY Times says
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October 21, 2014
07:21 EDTLAKEiBio valuation will be hard to maintain, TheStreet's Feuerstein says
iBio's current valuation will be hard to maintain "even under the best Ebola stockpiling scenario," TheStreet's Adam Feuerstein argues. He notes Ebola related stocks fell yesterday after the quarantines related to Thomas Duncan ended. Reference Link
October 20, 2014
14:29 EDTLAKELakeland Industries management to meet with Philadelphia Securities Association
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October 17, 2014
09:46 EDTLAKESarepta soars after publication of Ebola drug candidate data
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October 16, 2014
12:30 EDTLAKELakeland Industries management to meet with Benchmark Co.
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October 15, 2014
10:49 EDTLAKEEbola linked names rise again amid broader market sell-off
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October 14, 2014
09:46 EDTLAKELakeland Industries falls sharply on heavy volume
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October 10, 2014
17:14 EDTLAKEMarket ends week lower amid global growth worries
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October 9, 2014
16:25 EDTLAKEOn The Fly: Closing Wrap
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14:55 EDTLAKEHospital says deputy showing no signs of Ebola, AP reports
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12:06 EDTLAKELakeland Industries continues surge amid Ebola fears
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