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Glancy Prongay & Murray LLP Obtains Important Ruling for Ra Medical Systems, Inc. Investors in Securities Fraud Class Action

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LOS ANGELES, April 14, 2021 /PRNewswire/ Glancy Prongay & Murray LLP ( GPM ), a leading national shareholder rights law firm, announces that on March 24, 2021, the Honorable Larry Alan Burns of the United States District Court for the Southern District of California issued a ruling denying-in-part defendants motions to dismiss in
Derr v. Ra Medical Systems, Inc. GPM serves as the court-appointed Lead Counsel for a putative class of investors that purchased or otherwise acquired the securities of Ra Medical Systems, Inc. ( Ra Medical or the Company ) (NYSE: RMED): (a) pursuant and/or traceable to the registration statement and prospectus (collectively, the Registration Statement ) issued in connection with the Company s September 2018 initial public offering ( IPO or the Offering ); and/or (b) between September 27, 2018 and November 27, 2019, inclusive (the Class Period ). This action seeks to recover losses suffered by R ....

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Glancy Prongay & Murray LLP Obtains Important Ruling for Ra Medical Systems, Inc. Investors in Securities Fraud Class Action

Glancy Prongay & Murray LLP Obtains Important Ruling for Ra Medical Systems, Inc. Investors in Securities Fraud Class Action
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San Diego Business Leader Gina Champion-Cain Sentenced to 15 Years for Massive Ponzi Scheme

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Written by Imperial Valley News
San Diego, California - Gina Champion-Cain, a long-time San Diego business leader, restauranteur, and real estate magnate, was sentenced in federal court Wednesday to 15 years in prison for masterminding a massive, years-long Ponzi scheme and obstructing justice by hiding and destroying evidence from federal investigators.
When she pleaded guilty on July 22, 2020, Champion-Cain admitted that she raised more than $350 million from investors by promising to use their money to make loans to business owners who were attempting to acquire California liquor licenses. The investors were unaware, however, that Champion-Cain was not keeping her promise.
According to court records, Champion-Cain and her co-conspirators instead used funds from new investors to pay back others whose investments would soon be redeemed, and embezzled funds to support her other businesses and her lifestyle. Champion-Cain and her ....

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San Diego Woman Behind $400M Ponzi Scheme Gets 15-Year Prison Sentence

San Diego Woman Behind $400M Ponzi Scheme Gets 15-Year Prison Sentence
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Gina Champion-Cain Sentenced for Ponzi Scheme – NBC Bay Area

NBCUniversal Media, LLC
Prominent San Diego businesswoman Gina Champion-Cain, who pleaded guilty in June 2020 to securities fraud, conspiracy and obstruction of justice for defrauding investors out of $400 million through a liquor-license loan funding program, learned her fate on Wednesday.
U.S. District Judge Larry Alan Burns sentenced Champion-Cain to 15 years in prison the maximum sentence at the federal building on Front Street in downtown San Diego.
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During the hearing, several victims spoke to the judge, said Assistant United States Attorney Andrew Galvin outside court on Wednesday. Nearly 500 victims poured over $350 million into Champion-Cain s sham investment scheme. Ms. Champion-Cain did not use the money to finance liquor-license transactions, as she told investors. Rather, she used tens of millions of dollars to line her own pockets and to support he ....

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