TORONTO — Canada's decision to deploy a drone to spy on a New Zealand training session at the Paris Olympics was "completely stupid," says FIFA vice-president Victor Montagliani. "In the sense that I have no idea what the hell you're going to get out of that," said Montagliani, a former Canada Soccer president who is also president of CONCACAF, which covers North and Central America and the Caribbean. The scandal cost Canada women's coach Bev Priestman her job, with assistant coach Jasmine Mander and analyst Joe Lombardi also leaving Canada Soccer. All three are serving one-year suspensions from FIFA. "Now, listen, do clubs and countries push the envelope to try to gain an upper hand? Yeah," said Montagliani when asked about the scandal at a media roundtable Monday. "If we say no to that, we're fools. "We've all been into countries that will do anything they can, whether its fireworks the night before a match. Whatever they think that will get you three points. Because when it comes to football, a lot of countries think it's war. But for me personally I just thought it (the drone spying) was the definition of stupidity." FIFA, which runs the football competition at the Olympics, also docked the Canadian women six points at the tournament after a Canadian staffer was caught using a drone to spy on New Zealand team practices before the start of competition at the Paris Games. Canada Soccer was also fined 200,000 Swiss francs ($322,500). Canada Soccer continues to investigate just how deep a culture of spying was ingrained in the organization and has opened a disciplinary hearing into former Canada men's and women's coach John Herdman, who resigned as Toronto FC coach last month. "If any of this stuff reveals any new information whatsoever that's subject to FIFA jurisdiction, the FIFA ethics committee or discipline committee, or both, will act on it," Montagliani said. Montagliani says disciplinary issues in soccer usually fall under the national governing body. But Canada Soccer could refer the matter to FIFA if it has wider-ranging implications. --- Follow @NeilMDavidson on X platform This report by The Canadian Press was first published Dec. 8, 2024. Neil Davidson, The Canadian PressNeuroMetrix shareholders to receive cash and Contingent Value Rights WOBURN, Mass., Dec. 17, 2024 (GLOBE NEWSWIRE) -- NeuroMetrix, Inc. ("NeuroMetrix” or the "Company”) (Nasdaq: NURO) today announced it has entered into a definitive merger agreement whereby electroCore, Inc. ("electroCore”) (Nasdaq: ECOR), a commercial stage bioelectronic medicine and wellness company, will acquire NeuroMetrix. The transaction has been unanimously approved by the Boards of Directors of both companies and is expected to close late in the first quarter of 2025. Under the terms of the merger agreement, a subsidiary of electroCore will merge with NeuroMetrix and NeuroMetrix will become a wholly owned subsidiary of electroCore. The shareholders of NeuroMetrix will be entitled to receive the equivalent of the balance of NeuroMetrix's net cash at the closing of the transaction, subject to certain adjustments and deductions. Assuming the transaction closes on March 31, 2025, NeuroMetrix estimates that the balance of net cash to be paid to its shareholders, after deduction of, among other things, transaction expenses, severance costs, and accrued liabilities, will be approximately $9M in the aggregate. The final balance of net cash will be determined at the time of closing and will be based on a formula set out in the merger agreement. NeuroMetrix shareholders will also receive one non-tradeable contingent value right (a "CVR”) per share of NeuroMetrix common stock. Each CVR will represent the right to receive (i) certain future net proceeds from any divestiture of the Company's DPNCheck ® platform that is consummated prior to the closing of the transaction with electroCore and (ii) certain royalties, up to an aggregate maximum of $500,000, on net sales of prescription Quell ® products over the first two years following the closing of the transaction. "This announcement represents the culmination of our strategic review process announced in February 2024, and marks a positive outcome for the Company's shareholders. Through this transaction, we will efficiently return balance sheet cash to our shareholders while providing potential upside through the CVR,” said Shai N. Gozani, M.D., Ph.D., Chairman and CEO of NeuroMetrix. "A further advantage of this transaction is that we expect patients with chronic pain to have expanded access to our novel and proprietary Quell wearable neuromodulation technology through the commercial channel that electroCore has built. Although the DPNCheck platform is not included in the acquisition, we expect to divest this business such that patients and physicians continue to benefit from its unique and important diagnostic capabilities.” Consummation of the transaction is subject to approval by the shareholders of NeuroMetrix, NeuroMetrix having at least $8 million of net cash at closing, and the filing of NeuroMetrix's Form 10-K with respect to the fiscal year ended December 31, 2024, in addition to certain customary closing conditions. About NeuroMetrix NeuroMetrix is a commercial stage healthcare company that develops and commercializes neurotechnology devices to address unmet needs in the chronic pain and diabetes markets. The Company's products are wearable or hand-held medical devices enabled by proprietary consumables and software solutions that include mobile apps, enterprise software and cloud-based systems. The Company has two commercial brands. Quell ® is a wearable neuromodulation platform. DPNCheck ® is a point-of-care screening test for peripheral neuropathy. For more information, visit www.neurometrix.com . About electroCore electroCore is a commercial stage bioelectronic medicine and wellness company dedicated to improving health through its non-invasive vagus nerve stimulation ("nVNS”) technology platform. Its focus is the commercialization of medical devices for the management and treatment of certain medical conditions and consumer product offerings utilizing nVNS to promote general wellbeing and human performance in the United States and select overseas markets. Safe Harbor Statement The statements contained in this press release include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include information concerning possible or assumed future results of operations of the Company, the expected completion and timing of the transaction and other information relating to the transaction. Without limiting the foregoing, the words "believes,” "anticipates,” "plans,” "expects,” "intends,” "forecasts,” "should,” "estimates,” "contemplate,” "future,” "goal,” "potential,” "predict,” "project,” "projection,” "may,” "will,” "could,” "should,” "would,” "assuming” and similar expressions are intended to identify forward-looking statements. You should read statements that contain these words carefully. They discuss the Company's future expectations or state other forward-looking information and may involve known and unknown risks over which the Company has no control. While the company believes the forward-looking statements contained in this press release are accurate, there are a number of factors that could cause actual events or results to differ materially from those indicated by such forward-looking statements, including, without limitation, (i) the risk that the transaction may not be completed in a timely manner or at all, which may adversely affect the Company's business and the price of the common stock of the combined company following the merger, (ii) the failure to satisfy the conditions to the consummation of the transaction, including the adoption of the merger agreement by the stockholders of the Company and the receipt of any required regulatory approvals from various governmental entities (including any conditions, limitations or restrictions placed on these approvals) and the risk that one or more governmental entities may deny approval, (iii) the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement, (iv) the risk that the merger agreement may be terminated in circumstances that require the Company to pay a termination fee; (v) risks regarding the failure to obtain the necessary financing to complete the merger, (vi) the effect of the announcement or pendency of the transaction on the Company's business relationships, operating results and business generally, (vii) risks that the proposed transaction disrupts current plans and operations, (viii) risks related to diverting management's attention from the Company's ongoing business operations, and (ix) the outcome of any legal proceedings that may be instituted against the Company related to the merger agreement or the transaction. . There can be no assurance that future developments will be those that the company has anticipated. Further risks that could cause actual results to differ materially from those matters expressed in or implied by such forward-looking statements are described in the company's most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, as well as other documents that may be filed from time to time with the Securities and Exchange Commission (the "SEC”) or otherwise made public. The company is providing the information in this press release only as of the date hereof, and expressly disclaims any intent or obligation to update the information included in this press release or revise any forward-looking statements. Additional Information and Where to Find It In connection with the transaction, the Company intends to file relevant materials with the SEC, including a proxy statement on Schedule 14A. Promptly after filing its definitive proxy statement with the SEC, the Company will mail the definitive proxy statement and a proxy card to each stockholder entitled to vote at the special meeting relating to the transaction. INVESTORS AND SECURITY HOLDERS OF THE COMPANY ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE TRANSACTION THAT THE COMPANY OR ELECTROCORE WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PARTIES AND THE TRANSACTION. The definitive proxy statement, the preliminary proxy statement and other relevant materials in connection with the transaction (when they become available), and any other documents filed by the Company or electroCore with the SEC, may be obtained free of charge at the SEC's website (http://www.sec.gov). In addition, materials filed by the Company may be obtained on the Company's website neurometrix.com, and materials filed by electroCore may be obtained on electroCore's website at www.electroCore.com. Participants in the Solicitation The Company and each of its directors and executive officers may be deemed to be participants in the solicitation of proxies from the Company's stockholders with respect to the merger. Information about the Company's directors and executive officers and their ownership of the Company's common stock is set forth in the proxy statement on Schedule 14A filed with the SEC on March 27, 2024 and the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023 filed with the SEC on March 1, 2024. To the extent that such individual's holdings of the Company's common stock have changed since the amounts included in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023 filed with the SEC on March 1, 2024, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC. Information regarding the identity of the potential participants, and their direct or indirect interests in the merger, by security holdings or otherwise, will be set forth in the proxy statement and other materials to be filed with SEC in connection with the merger. Source: NeuroMetrix, Inc. Thomas T. Higgins SVP and Chief Financial Officer [email protected]
BOSTON (AP) — UConn coach Jim Mora pulled a move that would make Bill Belichick proud while preparing the Huskies to play the notoriously churlish former New England Patriot’s next team in his old backyard. Mora and his players were more than 45 minutes late for what was scheduled as a 30-minute media availability a day before Saturday’s Fenway Bowl against North Carolina. Mora then gave a non-apology straight out of Belichick’s playbook. “We practice at a certain time the day before a game,” Mora said. “And we stuck to the script.” A six-time Super Bowl winner in New England with Tom Brady, Belichick was fired after going 4-13 in 2023, leaving him just 14 wins short of matching Don Shula’s all-time record for NFL victories. Unable to land a pro job at the age of 72, Belichick signed on with North Carolina — his first college gig — when they fired 73-year-old Mack Brown. Belichick hasn’t taken over on the Tar Heels’ sideline yet; interim coach Freddie Kitchens — another ex-Cleveland Browns coach — will lead them in the Fenway Bowl. But the future Hall of Famer’s potential return to a football field in Boston has been the biggest story ahead of Saturday’s game. Belichick did not attend media day, and Fenway Bowl executive director Brett Miller tried to preempt questions about him by asking reporters “to keep questions focusing on the players and coaches out here today.” “I don’t need to beat around the bush any more than that,” he said in comments that would have been cryptic if it weren’t so obvious to everyone who he meant. “I know there’s probably a lot of questions that you guys have about next year, particularly one side. Please do your best to keep it to these guys, because they’ve earned the right to be here.” The request wasn’t completely successful, with Kitchens taking a question about Belichick specifically and saying he talks to his new boss every day. Earlier this month, Kitchens said: “He asks questions; I answer the questions.” “I’m going to try to soak in all I can from him, and be a better coach because of it,” Kitchens said after Belichick was hired. “I love Carolina, I want what’s best for Carolina, and I know that right now at this moment in time, coach Belichick is what’s best for Carolina. “At the end of the day, he’s a ballcoach,” he said, “and I enjoy working for ballcoaches.” Mora also brushed off a question about whether the next Carolina coach would have any impact on Saturday’s game. “It’s irrelevant to us,” said Mora, who was 0-1 against Belichick in four seasons as an NFL head coach. “We can’t control the emotions of our opponents. And as far as I know, coach Belichick will not be taking the football field on Saturday, so it’s not relevant to this football team in our preparation. How they got here North Carolina (6-6) will be playing in a bowl for the sixth straight year – the second-longest streak in program history. The Tar Heels climbed from back-to-back nine-loss seasons in the final years of Larry Fedora to reach into The Associated Top 25 in each of the previous four seasons under Brown, who also coached them from 1988-97 in one of the most successful eras of Carolina football history. After starting out 3-0 this year, the Tar Heels lost four straight — including a 70-50 loss to Sun Belt Conference team James Madison. They won three more to gain bowl eligibility before a loss to Boston College that sealed Brown’s fate, and a season-ending loss to rival NC State. UConn is playing in its second bowl game in three seasons under Jim Mora, bouncing back from last year’s 3-9 record to post its first eight-win season since Randy Edsall took the Huskies to the Fiesta Bowl in 2010. An independent, UConn won all of its games against the non-Power 4 conferences and lost to Syracuse, Wake Forest and Duke of the Atlantic Coast Conference and Maryland of the Big Ten. Fenway Bowl history Miller said the bowl, which has struggled to find traction in a city more focused on the success of its professional sports teams, sold more tickets this year than in its first two. The Belichick angle is certainly part of that, but the game has also had some good success picking teams, hosting Louisville in 2022 — the year before the Cardinals climbed into The Associated Press Top 10 – and then SMU last year, one season before the Mustangs made the College Football Playoff. “Could one of these teams be next,” Miller said. “We’ll see.” ___ Get poll alerts and updates on the AP Top 25 throughout the season. Sign up . AP college football: andBOZEMAN, Mont. – Aurora, a self-driving trucking company, is making waves in Bozeman with its innovative technology and job creation. The company uses LIDAR, a tool that employs lasers and photonics to create a 3-D picture of the environment. Montana State University and Gallatin College have developed programs to educate students in photonics, preparing them for real-world applications. Some students have already secured positions with Aurora. Javascript is required for you to be able to read premium content. 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AP News Summary at 3:42 p.m. ESTJarrod Bowen won it for West Ham (Zac Goodwin/PA) Jarrod Bowen dedicated his winning goal to Michail Antonio as West Ham beat Wolves 2-1. The England winger held Antonio’s number nine shirt aloft in support of the Hammers striker, who is recovering in hospital after a horror car crash. It was a victory which may have saved West Ham boss Julen Lopetegui’s job, for now at least, while the end could be nigh for Wolves’ under-pressure manager Gary O’Neil after a third straight defeat. However, any concerns about poor form, or the job prospects of either boss, paled into insignificance following the news Antonio had been in a serious road accident on Saturday afternoon. We need your consent to load this Social Media content. We use a number of different Social Media outlets to manage extra content that can set cookies on your device and collect data about your activity. Thankfully, West Ham were able to confirm he was in a stable condition, conscious and communicating, on Saturday evening. The 34-year-old has undergone surgery on a broken leg and faces a long road to recovery from his injuries. So West Ham players showed their support for their stricken team-mate, wearing ‘Antonio 9′ shirts while warming up and walking out. The shirts will be signed by the players, including Antonio, and auctioned off with the proceeds going to the NHS and Air Ambulances UK. The focus was still on Antonio in the ninth minute, with a minute’s applause for the club’s record Premier League goalscorer. But in a desperately poor first half it took until the 20th minute for anyone to have a shot, with Wolves’ Joao Gomes firing straight at Lukasz Fabianski, who also saved from Matheus Cunha at his near post. We need your consent to load this Social Media content. We use a number of different Social Media outlets to manage extra content that can set cookies on your device and collect data about your activity. Gomes should have put the visitors ahead when he met Matt Doherty’s cross at the far post but he guided his effort wide from three yards out. For West Ham, Mohammed Kudus played in Bowen, whose angled drive was kept out by the boot of Wolves keeper Sam Johnstone. Konstantinos Mavropanos then skied a shot from a corner as the half trundled to a close. However, Tomas Soucek made the breakthrough nine minutes into the second half, having been left completely unmarked to loop in a header at the far post from Bowen’s corner. The Czech midfielder held up nine fingers to a television camera to show his support for Antonio. Kudus had the ball in the net five minutes later after tapping home Bowen’s low cross, but a VAR check showed he was offside. We need your consent to load this Social Media content. We use a number of different Social Media outlets to manage extra content that can set cookies on your device and collect data about your activity. O’Neil was apoplectic on the touchline after Emerson Palmieri barged over Goncalo Guedes and no penalty was given. Moments later his mood improved when Rayan Ait-Nouri curled in a cross from the right and Doherty guided it home. But O’Neil’s fate might have been sealed in the 72nd minute when Bowen cut inside Guedes and threaded a superb finish past Johnstone before lifting Antonio’s shirt to the crowd behind the goal. The disappointment proved too much for Wolves skipper Mario Lemina, who had to be escorted from the pitch at the final whistle after pushing and shoving players and staff from both West Ham and his own team.TORONTO - Canada's decision to deploy a drone to spy on a New Zealand training session at the Paris Olympics was "completely stupid," says FIFA vice-president Victor Montagliani. Read this article for free: Already have an account? As we navigate through unprecedented times, our journalists are working harder than ever to bring you the latest local updates to keep you safe and informed. Now, more than ever, we need your support. Starting at $14.99 plus taxes every four weeks you can access your Brandon Sun online and full access to all content as it appears on our website. or call circulation directly at (204) 727-0527. Your pledge helps to ensure we provide the news that matters most to your community! TORONTO - Canada's decision to deploy a drone to spy on a New Zealand training session at the Paris Olympics was "completely stupid," says FIFA vice-president Victor Montagliani. Read unlimited articles for free today: Already have an account? TORONTO – Canada’s decision to deploy a drone to spy on a New Zealand training session at the Paris Olympics was “completely stupid,” says FIFA vice-president Victor Montagliani. “In the sense that I have no idea what the hell you’re going to get out of that,” said Montagliani, a former Canada Soccer president who is also president of CONCACAF, which covers North and Central America and the Caribbean. The scandal cost Canada women’s coach Bev Priestman her job, with assistant coach Jasmine Mander and analyst Joe Lombardi also leaving Canada Soccer. All three are serving one-year suspensions from FIFA. Victor Montagliani, president of CONCACAF and vice-president of FIFA, speaks during a fireside chat in Toronto on Thursday, February 1, 2024. THE CANADIAN PRESS/Christopher Katsarov “Now, listen, do clubs and countries push the envelope to try to gain an upper hand? Yeah,” said Montagliani when asked about the scandal at a media roundtable Monday. “If we say no to that, we’re fools. “We’ve all been into countries that will do anything they can, whether its fireworks the night before a match. Whatever they think that will get you three points. Because when it comes to football, a lot of countries think it’s war. But for me personally I just thought it (the drone spying) was the definition of stupidity.” FIFA, which runs the football competition at the Olympics, also docked the Canadian women six points at the tournament after a Canadian staffer was caught using a drone to spy on New Zealand team practices before the start of competition at the Paris Games. Canada Soccer was also fined 200,000 Swiss francs ($322,500). Canada Soccer continues to investigate just how deep a culture of spying was ingrained in the organization and has opened a disciplinary hearing into former Canada men’s and women’s coach John Herdman, who resigned as Toronto FC coach last month. “If any of this stuff reveals any new information whatsoever that’s subject to FIFA jurisdiction, the FIFA ethics committee or discipline committee, or both, will act on it,” Montagliani said. Montagliani says disciplinary issues in soccer usually fall under the national governing body. But Canada Soccer could refer the matter to FIFA if it has wider-ranging implications. — Follow @NeilMDavidson on X platform This report by The Canadian Press was first published Dec. 8, 2024. Advertisement
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