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SCWorx Announces Final Approval of Previously Disclosed Securities Class Action and Derivative Action Lawsuits

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New York, NY, July 06, 2022 (GLOBE NEWSWIRE) — SCWorx Corp. (Nasdaq: WORX) today announced that it has received final court approval to settle both the securities class action and derivative action lawsuits which were commenced in 2020.

The class action was consolidated under the caption Yannes v. SCWorx Corp. (1:20-cv-03349).  The settlement resolves all claims asserted against SCWorx and the other named defendant without any admission of liability or wrongdoing by the Company or any defendant. Under the terms of the class action agreement, (i) the insurers for the Company and Marc Schessel (former CEO) will make a cash payment to the class plaintiffs and (ii) the Company will issue $600,000 worth of common stock to the class Plaintiffs, in exchange for which all parties will be released from all claims related to the securities class action litigation.

In addition, the Company and the Director Defendants (Marc Schessel, Steven Wallitt, Charles Miller and Robert Christie) entered into a settlement with the shareholder derivative plaintiffs to settle the derivative litigation in which SCWorx was a nominal defendant. Under the terms of this agreement, (i) the insurers for the Director Defendants will make a cash payment to legal counsel for the shareholder derivative Plaintiffs to cover their legal fees and (ii) the Company will adopt certain corporate governance reforms, including adopting resolutions to address corporate transparency, further enhancing board independence, further enhancement of the CFO position, amendment of the audit committee charters, revisions to nominating committee and compensation committee charter and other similar enhancements, and addressing company policies, within 60 days of court approval of the settlement. In exchange for which all parties will be released from all claims related to the derivative class action litigation. Some of these enhancements have already been achieved.

“This settlement represents the progress we have made as a company,” said SCWorx President and Chief Executive Officer Tim Hannibal. “With the support of our Board and the dedicated employees of SCWorx , the Company put another issue from the past behind us.”

“Over the past two years, SCWorx has successfully negotiated a number of significant legal obstacles resulting from a press release in April 2020,” said Hannibal. “The final court approval of the class and derivative settlements — together with our final agreement with the Securities and Exchange Commission in 2022 — will put the legal issues relating to press release behind us and allow us to move forward. We look forward to continuing to deliver our SaaS service offerings to help hospitals solve the challenges they experience within their supply chain.”

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About SCWorx Corp.

SCWorx has created an advanced attributed virtualized item data warehouse utilizing machine learning and artificial intelligence to offer a suite of software-as-a-service-based solutions for healthcare providers. The value proposition for customers revolves around the full integration of all solution modules with the company’s data platform for cost savings, operational efficiency and accurate benchmarking and reporting. The solution modules include Virtual Item Master, data cleanse and normalization, contract management and request for pricing (RFP) module, automated rebate management module, data interoperability (EMR, MMIS, finance) module, Automated Item Add Portal, Virtual General Ledger, and the data analytics module. SCWorx creates a single source for information for the healthcare provider’s data governance and analytics requirements.

Forward-Looking Statements

This press release contains “forward-looking statements” that involve substantial risks and uncertainties for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this press release regarding strategy, future operations, future contract renewals and terminations, future financial position, prospects, plans and objectives of management are forward-looking statements. You can identify many (but not all) such forward-looking statements by looking for words such as “assumes,” “approximates,” “believes,” “expects,” “anticipates,” “estimates,” “projects,” “seeks,” “intends,” “plans,” “could,” “would,” “may” or other similar expressions. You should not place undue reliance on these forward-looking statements. Such statements are based on management’s current expectations and involve risks and uncertainties. Actual results and performance could differ materially from those projected in the forward-looking statements as a result of many factors, including, without limitation, economic disruptions affecting our customers, unexpected contract terminations, securing future contracts and orders, future product sourcing, supply disruptions, containing costs, the ability to project future cash utilization and reserves needed for contingent future liabilities and business operations, the availability of sufficient resources of the company to meet its business objectives and operational requirements and other important factors that are detailed in filings with the Securities and Exchange Commission made from time to time by SCWorx, including its Annual Report on Form 10-K for the year ended December 31, 2021, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. Matters described in forward-looking statements may also be affected by other known and unknown risks, trends, uncertainties and factors, many of which are beyond the Company’s ability to control or predict. SCWorx undertakes no obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Contacts:
[email protected]

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Source: SCWorx Corp.

Released July 6, 2022

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

MacPaw Recognized a Finalist in the Social Impact Award at the 2024 Reuters Events Sustainability Awards: Honored for Pioneering Innovation and Social Responsibility

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KYIV, Ukraine, Oct. 2, 2024 /PRNewswire/ — MacPaw, a leading Ukrainian software company, has been named a finalist for the prestigious 2024 Reuters Sustainability Awards in the Social Impact category, standing out as the only Ukrainian company recognized in this field. This recognition highlights MacPaw’s exceptional efforts in ensuring safety, well-being, and innovation during adversity following the full-scale Russian invasion of Ukraine.

MacPaw’s entry, titled “Ensuring Safety and Well-being while Fostering Innovation: MacPaw’s Journey During Adversity,” underscores the company’s commitment to its employees and users, as well as the broader Ukrainian community. Despite the unprecedented challenges of wartime, MacPaw has continued to thrive, supporting millions of users across the world while spearheading vital social and humanitarian initiatives. We see Ukrainian innovation not only surviving but thriving. It’s a testament to Ukraine’s place in the tech world.
Key Achievements:
Humanitarian Aid and Recovery: Since February 2022, MacPaw has donated over $10 million to various charitable causes, driving significant change across Ukraine. MacPaw Foundation, a corporate charity, provided vital support to over 10,000 Ukrainians affected by the full-scale Russian invasion, ensuring they received the care and resources needed in times of adversity.Empowering Communities: Through the MacPaw Cares corporate social responsibility program, the company impacted 30+ social projects in 10 regions, focusing on supporting communities locally and globally, boosting sustainability effort, helping people in need, fostering local tech talent, inclusivity, and restoring access to education.Employee Support: The company implemented flexible mental health policies, offering dedicated support sessions, mental health surveys, and assistance to employees affected by the full-scale Russian invasion.Veterans Integration: MacPaw has launched a Veterans Integration Program to assist veterans in reintegrating into the company’s work and social life.Innovation in Crisis: Despite the war challenges, MacPaw introduced breakthrough products SpyBuster, ClearVPN, CleanMyPhone, Setapp Mobile. MacPaw also started a cybersecurity division that focuses exclusively on the cybersecurity needs of Mac users, Moonlock. Showcasing the commitment to the community, MacPaw developed Together App — a wartime check-in tool that helps employers monitor their team’s well-being and safety during the war.”We are honored to be recognized as Finalist in the Social Impact Award at the Reuters Events Sustainability Awards 2024 for our social impact efforts, especially as Russia’s invasion of Ukraine continues,” said Anna Manukhina, Director of MacPaw Foundation and CSR Lead at MacPaw. “This nomination reaffirms our commitment to supporting Ukraine and fostering innovation even in the times. Whether through mental health support, humanitarian aid, or product development, MacPaw’s initiatives reflect our mission to make a meaningful global impact.”
The 2024 Reuters Sustainability Awards are among the world’s most distinguished recognitions in sustainable development. It is more than just a recognition of the best sustainability strategies; it honors those who truly impact business, society, and the environment, creating a new way of doing business in the 21st century. Over the past 14 years, the award has served as a benchmark for companies worldwide.
For more information about MacPaw’s social impact initiatives, visit MacPaw’s Social Impact Review.
About MacPaw
MacPaw develops and distributes innovative software for macOS and iOS that simplifies the lives of Mac users. Renowned for its meticulously crafted products, such as CleanMyMac X, CleanMy®Phone, Setapp, and ClearVPN, and known for its Moonlock cybersecurity division, MacPaw is dedicated to enhancing and securing the Mac user experience. Founded in Kyiv, Ukraine, with offices in Boston, MacPaw serves millions of users worldwide. With one in every five Mac users having at least one MacPaw app, the company is a trusted leader in the Mac software ecosystem.
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Media Contact: Oleksandra LytvynenkoPR [email protected]

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When Evaluating Vendors, 64% of Manufacturers Surveyed Cite Strong Onboarding and Ongoing Support as Crucial

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NEW YORK, Oct. 2, 2024 /PRNewswire/ — Global technology intelligence firm ABI Research recently completed its 2024 Manufacturers’ Technology Adoption & Attitudes Survey, a comprehensive survey of 461 manufacturing decision-makers across the United States, Malaysia, and Germany to uncover real-world attitudes, adoption trends, and valuable insights that reflect the current technological landscape within the manufacturing industry. When asked which criteria were most important when evaluating a new solution or vendor, 64% of respondents ranked a robust onboarding process with training, resources, and post-sales follow-up as the most critical. 

“Improving quality and productivity levels are key objectives for survey respondents. However, an overriding concern is how to deploy the technologies to achieve those objectives. Manufacturers require assurance that they will receive adequate support and training resources to quickly adapt, along with ongoing follow-up from the vendor,” explains Michael Larner, Distinguished Analyst at ABI Research.
Vendors often prioritize outlining potential investment outcomes to provide evidence of return on investment. Benefits will take longer to accrue if users cannot fully understand and properly utilize the solution. To avoid this, the vendor or their partners must be present during the initial launch, provide training resources that enable users to map the solution to their workflows, and adhere to a strict follow-up plan with the customer. These measures will require investment in the post-sales process, emphasizing partners’ education so that they effectively represent the vendor in onboarding processes.
The survey further revealed that recruiting and retaining staff is challenging for manufacturers. The lack of skills underscores the concerns not only regarding deploying technologies but also fully grasping the opportunities that digital technologies offer.  “Hand holding by the vendor will be required when manufacturers are devising Proofs of Concept (PoCs), evaluating suppliers, and implementing solutions at their facilities,” Larner concludes.
These findings are from ABI Research’s Industrial and Manufacturing Survey 1H 2024: What Are Respondents Looking for from Vendors? report. This report is part of the company’s Industrial & Manufacturing Technologies research service, which includes research, data, and ABI Insights.
About ABI Research
ABI Research is a global technology intelligence firm uniquely positioned at the intersection of technology solution providers and end-market companies. We serve as the bridge that seamlessly connects these two segments by providing exclusive research and expert guidance to drive successful technology implementations and deliver strategies proven to attract and retain customers.
ABI Research是一家全球性的技术情报公司,拥有得天独厚的优势,充当终端市场公司和技术解决方案提供商之间的桥梁,通过提供独家研究和专业性指导,推动成功的技术实施和提供经证明可吸引和留住客户的战略,无缝连接这两大主体。
For more information about ABI Research’s services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific, or visit www.abiresearch.com.
Contact Info: 
GlobalDeborah PetraraTel: [email protected]  
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Artificial Intelligence

Scale Computing Offers Simple, Secure, Reliable IT Infrastructure to Guard Against Data-Hungry Ghouls

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Company Gifting Retro Polaroid Cameras to End Users in North America and Europe, Middle East, and Africa through November 8th
INDIANAPOLIS, Oct. 2, 2024 /PRNewswire/ — Scale Computing, the market leader in edge computing, virtualization, and hyperconverged solutions, today announced its new campaign targeting outdated IT infrastructure and calling on organizations to learn more about Scale Computing Platform’s (SC//Platform) future-ready solutions. Between now and November 8, 2024, end users in North America and Europe, Middle East, and Africa (EMEA) who register for a meeting will receive a retro Polaroid camera.

“Downtime, data loss, and corruption can happen at any moment, threatening your business. Instead of being plagued by data-hungry ghouls and goblins, we invite users to learn more about Scale Computing and our SC//Platform to maximize security, ensuring that critical systems are always protected, validated, and ready for recovery. Organizations of all sizes across all vertical industries can benefit from SC//Platform, which brings together simplicity and scalability, replacing existing outdated infrastructure. Users instead get high availability for running workloads in a single, easy-to-manage platform, while leveraging our patented self-healing technology to maintain maximum uptime for all applications,” said Jeff Ready, CEO and co-founder of Scale Computing.
October is Cybersecurity Awareness Month, dedicated to raising awareness about the importance of digital security and protecting personal data. As cyber criminals become more sophisticated, maintaining modern infrastructure with a strong cybersecurity posture is key to keeping critical business applications and data secured. The new campaign from Scale Computing aims to help businesses scare away threats and fortify their defenses against data-hungry ghouls.
SC//Platform provides infrastructure that is simple, secure, scalable, and reliable. Combine it with Scale Computing’s subscription-based Business Continuity/Disaster Recovery (BCDR) Planning Service to establish a comprehensive and regulated response plan for any unforeseen downtime. With SC//Platform, an organization’s critical systems will be protected, validated, tested, and always ready for recovery when the goblins strike.
Book your meeting today to ensure your business is prepared for whatever data-hungry dark forces come your way and receive a complimentary Polaroid camera. To learn more about Scale Computing and book your meeting, visit https://www.scalecomputing.com/landing-pages/guard-against-data-hungry-ghouls.
About Scale ComputingScale Computing is a leader in edge computing, virtualization, and hyperconverged solutions. Using patented HyperCore™ technology, Scale Computing Platform automatically identifies, mitigates, and corrects infrastructure problems in real-time, enabling applications to achieve maximum uptime, even when local IT resources and staff are scarce. Edge Computing is the fastest-growing area of IT infrastructure, and industry analysts have named Scale Computing an outperformer and leader in the space, including being named the #1 edge computing vendor by CRN. Scale Computing’s products are sold by thousands of value-added resellers, integrators, and service providers worldwide. When ease-of-use, high availability, and TCO matter, Scale Computing Platform is the ideal infrastructure platform. Read what our customers have to say on Gartner Peer Insights, G2, and TrustRadius.
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