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Dr. Valentin Gapontsev and IPG Settle Litigation with US Treasury over Congressional Report

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US Treasury acknowledges that Valentin Gapontsev is not an oligarch

OXFORD, Mass., Sept. 11, 2019 (GLOBE NEWSWIRE) — IPG Photonics Corporation (NASDAQ: IPGP) today announced that the U.S. Treasury publicly acknowledged Dr. Valentin P. Gapontsev is not an oligarch in the Russian Federation for purposes of Section 241 of Countering America’s Adversaries Through Sanctions Act (CAATSA). Litigation over his inclusion in the so-called oligarch report was resolved in consideration for the Treasury Department’s official and public finding that Dr. Gapontsev is not an oligarch in the Russian Federation, and he would not be included in the report to Congress if it were compiled today.

Dr. Valentin P. Gapontsev, founder and CEO of IPG Photonics, a U.S.-based global leader in fiber laser technology, sued the U.S. Treasury in December 2018 over its report to Congress listing him as an oligarch of the Russian Federation under CAATSA. Dr. Gapontsev asserted that the U.S. Treasury had no basis in law or fact for including him in the report.

The letter, signed by Paul Ahern, Acting Principal Deputy Assistant Secretary of the U.S. Treasury, says, “Treasury is of the opinion that, if it had to create the unclassified report today, Dr. Valentin Gapontsev would not be listed among oligarchs in the Russian Federation referred to in Section 241 of CAATSA based upon information it did not have when the report was submitted to Congress.” The letter also states “[a]ny reference to Dr. Valentin Gapontsev in the unclassified 2018 report does not reflect any judgment of the Treasury Department regarding compliance with U.S. law.” The Treasury agreed to publish the letter on its website.

“Ever since the Treasury Department issued the 2018 CAATSA report to Congress, we have asserted that it was wrong in declaring Dr. Gapontsev to be a Russian oligarch. We are pleased that the Treasury has finally admitted this much in its letter,” said Angelo Lopresti, IPG Photonics’ General Counsel. He continued, “During a court hearing, the U.S. Government conceded that the U.S. Treasury based its unclassified CAATSA oligarch report entirely on a list taken from a 2017 Forbes Magazine article. Dr. Gapontsev, a U.S. citizen, is a world-renowned scientist and entrepreneur who created thousands of U.S. jobs as he commercialized fiber laser technology.”

On January 29, 2018, the U.S. Treasury Secretary designated 96 individuals as “oligarchs in the Russian Federation” pursuant to Section 241 of the CAATSA, including Dr. Valentin Gapontsev. IPG Photonics, headquartered in Massachusetts, is the world leader in fiber laser technology, with more than 4,000 customers, 25 facilities and 6,000 employees worldwide.

Dr. Gapontsev asserted in the litigation that his wealth stems entirely from successfully growing IPG Photonics and his fiber laser innovations over the last three decades, not from any connections with the Russian government.

U.S. Treasury Department Letter

DEPARTMENT OF THE TREASURY
Washington, D.C.

September 11, 2019

Dr. Valentin P. Gapontsev
c/o IPG Photonics Corporation
50 Old Webster Road
Oxford, MA 01540

IPG Photonics Corporation
50 Old Webster Road
Oxford, MA 01540

Dear Dr. Gapontsev and IPG Photonics Corporation:

The following concerns the Secretary of the Treasury’s unclassified report to Congress on January 29, 2018, pursuant to Section 241 of the Countering America’s Adversaries Through Sanctions Act (“CAATSA”), Pub. L. No. 115-44, 131 Stat. 886 (2017) (“the Section 241 Report”).  The United States Department of the Treasury is of the opinion that, if it had to create the unclassified report today, Dr. Valentin Gapontsev would not be listed among oligarchs in the Russian Federation referred to in Section 241 of CAATSA.  Consequently, Dr. Gapontsev is not an oligarch in the Russian Federation for purposes of Section 241 of CAATSA.  The Department’s view is based on information we did not have at the time the report was submitted to Congress.  Among other things, Dr. Valentin Gapontsev is a U.S. citizen and chairman and CEO of IPG Photonics Corporation, a publicly-traded corporation headquartered in the United States. 

Any reference to Dr. Valentin Gapontsev in the unclassified Section 241 Report does not reflect any judgment of the Treasury Department regarding compliance with U.S. law, including those relating to sanctions against Russia or its oligarchs.

If you or any other person has questions regarding this letter, please contact the undersigned at (202) 622-1206, or his successor.

Sincerely,

s/Paul Ahern
Paul Ahern
Acting Principal Deputy Assistant Secretary
Office of Terrorist Financing and Financial Crimes

About IPG Photonics Corporation

IPG Photonics Corporation is the leader in high-power fiber lasers and amplifiers used primarily in materials processing and other diverse applications. The company’s mission is to make its fiber laser technology the tool of choice in mass production. IPG accomplishes this mission by delivering superior performance, reliability and usability at a lower total cost of ownership compared with other types of lasers and non-laser tools, allowing end users to increase productivity and decrease costs. A member of the S&P 500® Index, IPG is headquartered in Oxford, Massachusetts and has more than 25 facilities worldwide. For more information, visit www.ipgphotonics.com.

Contact

James Hillier
Vice President of Investor Relations
IPG Photonics Corporation
508-373-1467
jhillier@ipgphotonics.com

 

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.

IT Industry

Mimecast Announces First North American Cyber Resilience Summit in Dallas

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Security and IT Professionals to Discuss the Complexities of Today’s Security Environments and How to Combat Disruption

DALLAS, Sept. 17, 2019 (GLOBE NEWSWIRE) — Mimecast Limited (NASDAQ: MIME), a leading email and data security company, today announced its first North American Cyber Resilience Summit to be held in Dallas, Texas October 28-30, 2019.  This Cyber Resilience Summit is built around the theme of ‘Resilience Now. Resilience Together™‘ and will bring together public and private IT and Information Security leaders, Mimecast customers and partners, and global experts. Attendees of the Summit will experience hands-on, knowledge-transfer sessions focused on key cybersecurity and cyber resilience issues affecting modern organisations.

In addition to knowledge sharing and building on key skills and certifications, attending the Summit provides the opportunity to network, better understand how to get the most out of your organization’s security ecosystem, and ultimately help aligning IT and Security teams to create robust resilience strategies and expand the value of your Mimecast investment.

“Organizations struggle with planning for and achieving a level of cyber resilience to help combat disruption to their business. This disruption comes in many forms: malicious and criminal intent, technology failure and human error. It’s a triple threat that makes the jobs of IT and security professionals very difficult as they must understand not only how to avoid disruption, but also how to withstand it when it inevitably occurs,” said Peter Bauer, chief executive officer at Mimecast.

Research has shown that the average number of security tools in an enterprise is approximately 75. Tracks during the Cyber Resilience Summit will address the complexity this brings, and will highlight the ineffi­ciencies, ineffectiveness and risk that brings to any security environment.

“We recently hosted a Cyber Resilience Summit in South Africa and it was a tremendous success – seeing an attendance of almost 1000 IT and security professionals. We want to bring that same level of excitement and dedication to achieve something great across the globe,” commented Bauer.  “We’re hosting the next Cyber Resilience Summit in Dallas to bring together top minds to discuss how resilience is also something that comes in many forms. Our speakers will tell stories of unimaginable challenges they have overcome, inspiration they’ve drawn from their experiences and the opportunities that have been presented to them. We will all come together to learn from each other to help build a more resilient world.”

Keynote speakers at the North American Cyber Resilience Summit include:

  • Art Coviello, Jr, Venture Partner, Rally Ventures and former Executive Chairman of RSA, The Security Division of Dell Technologies
  • Mick Ebeling, CEO of Not Impossible Labs
  • Ryan Stramrood, extreme adventurer and ice swimmer
  • Peter Bauer, CEO of Mimecast
  • Christina Van Houten, Chief Strategy Officer of Mimecast
  • Janet Levesque, SVP, Systems, Resilience and Security

During the event, more than 50 high-value breakouts will be led by Mimecast experts, customers, partners, and industry thought leaders to help attendees enhance the skills needed for ongoing success, helping to build a more comprehensive cyber resilience strategy for their organization.

Breakout sessions will be focused on the following:

  • Training Labs – Go deep on how to get the most out of your Mimecast technology with hands-on training from Mimecast experts. These sessions are designed to help attendees ensure protections are optimized.
  • Optimizing IT and your Security Ecosystem – Designed to give attendees strategies for optimizing their security posture today: building a sustainable security platform, making everything work together, and getting the most from investments.
  • Archiving, Data Protection and Compliance – Explore the challenges of archiving and data management through a variety of lenses. Learn how to optimize existing technologies and make data migration easy, and get best-practices from industry experts, peers and Mimecast product experts.
  • Advanced Security – Hear about persistent challenges like combatting human error, addressing multi-vector attacks, and making threat intelligence both consumable and actionable.
  • Your Mimecast: Innovations and Services – Learn where Mimecast has been investing and what lies ahead. From deep dive product discussions to sessions.

For more information and to register, please visit https://www.cyberresiliencesummit.com.

About Mimecast
Mimecast is a cybersecurity provider that helps thousands of organizations worldwide make email safer, restore trust and strengthen cyber resilience. Mimecast’s expanded cloud suite enables organizations to implement a comprehensive cyber resilience strategy. From email and web security, archive and data protection, to awareness training, uptime assurance and more, Mimecast helps organizations stand strong in the face of cyberattacks, human error and technical failure. www.mimecast.com

Mimecast Social Media Resources
LinkedIn: Mimecast
Facebook: Mimecast
Twitter: @Mimecast
Blog: Cyber Resilience Insights

Press Contact
Alison Raymond Walsh
press@mimecast.com

Investor Contact
Robert Sanders
Investors@Mimecast.com
617-393-7074

Mimecast and Resilience Together are either registered trademarks and/or trademarks of Mimecast Services Limited in the United States and/or other countries.  All other products and/or services referenced are trademarks of their respective companies. 

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IT Industry

StaffConnect Announces Upcoming Live Webinar Featuring Emma Bridger of People Lab to Discover Why Employee Experience is the Key to Customer Engagement

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Attendees to Learn What Business Leaders Can do to Motivate, Engage and Connect with Employees Across the Organisation for Long-Term Business Success

LONDON and SAN FRANCISCO, Sept. 17, 2019 (GLOBE NEWSWIRE) — StaffConnect, the leading provider of mobile employee engagement solutions for the deskless workforce, announced today its upcoming live webinar, Discover Why Employee Experience is Key to Customer Engagement’ featuring Emma Bridger of People Lab and renowned author of Employee Engagement. Emma will be sharing her insights and top tips from 18 years’ of experience, helping organisations transform employee engagement to drive business success.

Date: 
Monday, September 23, 11:00 – 11:30 a.m. ET / 4:00 – 4:30 p.m. BST

Why Attend:   
An engaged and productive workforce is vital for the success of any business. Attend this StaffConnect webinar to learn what business leaders can do to ensure their employees are motivated, engaged and connected to their organisational goals and mission for long-term success.

Learn:

  • Practical tips to building a compelling employee experience
  • How effective internal communication can help drive employee engagement
  • What role technology plays in the employee experience
  • The link between EX and CX and the impact on company performance.

Register Now:
The first 20 people to register and attend the webinar will receive a free copy of Emma’s latest book: ‘Employee Engagement – A Practical Introduction’.
register.gotowebinar.com/register/7318820386762027533

Tweet this: .@StaffConnectApp Announces Upcoming Live Webinar With Emma Bridger of People Lab to Discover Why Employee Experience is the Key to Customer Engagement
https://www.staffconnectapp.com/press-releases/ #InternalComms #IC #Mobile #EmployeeEngagement #DesklessWorkforce #EmployeeExperience #HR #Digital Experience

About StaffConnect    
StaffConnect is the leading provider of mobile employee engagement solutions for the deskless workforce. The StaffConnect platform transforms the employee experience by enabling enterprises to connect, communicate and engage their entire workforce, especially remote, deskless employees. The customer-branded mobile app gives employees ‘a voice’ – with access to company and user-generated content to increase loyalty and productivity. The cloud-hosted platform empowers employers to target that content, with analytics, to deepen engagement with everyone. From offices in London and San Francisco, StaffConnect’s platform and domain expertise are supporting large businesses around the world to inspire their workforces to deliver better performance, improved customer experiences and greater shareholder value. For further information, please visit: www.staffconnectapp.com.

Media Resources (logos, screenshots, etc.): https://www.staffconnectapp.com/press-resources/

PR Contact:
Sabrina Sanchez
The Ventana Group for StaffConnect
(925) 785-3014
ssanchez@theventanagroup.com

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IT Industry

VPN Publishes Forbes Internet Security Guide for Law Firms

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ATLANTA, LONDON and TORONTO, Sept. 17, 2019 (GLOBE NEWSWIRE) — VPN recently published a guide to internet privacy for law firms on Forbes.com. The article, Protecting Attorney-Client Privilege With A VPN, was created to help law firms understand the dangers unsecure internet connections pose to their firm reputation, employees and clients.

“The judicial branch of our government is the crown jewel of justice in the United States. It is a great opportunity to present your case before a judge in this country. Many places around the world have no such environment for trials of justice. Protecting the communication and sensitive details of these cases and clients is critical, stated Michael Gargiulo, CEO at VPN.

Many large law firms have established internet access policies. This defines how employees communicate internally and externally. Policies like this work to curb the abuse and cyberattacks large law firms typically attract.

“Smaller firms or solo practices are often less fortunate when it comes to how they protect their attorney-client privilege and communication. Unfortunately, if that information is compromised by an adversary or publication it can completely erode the reputation of the firm, the attorney-client privilege and the client’s case. In fact, Terry Myers, who operates one of the largest VPNs for businesses, Encrypt.me, agrees without a VPN, your identity and communication are completely exposed,” said Gargiulo.

IBM reports the average breach is now costing companies upwards of $4 million. Law firms and attorneys around the world are realizing the reality of growing threats against their internet connection and client-base. With the right internet access policies, business VPN connections and security protocols a firm can be much more prepared and secure in their digital operation.

To protect your firm or organization with a VPN, please visit: https://encrypt.me
 
To learn more about Protecting Attorney-Client Privilege With A VPN please visit: https://www.forbes.com/sites/forbestechcouncil/2019/09/04/protecting-attorney-client-privilege-with-a-vpn/

To learn more about how VPN.com helps families, entrepreneurs and organizations secure their internet activity, please visit: https://vpn.com

To learn more about how VPN helps brands and visionaries secure premium domain names, please visit: https://vpn.com/domains

To learn more about premium dedicated hosting for your firm or enterprise, please visit: https://totalserversolutions.com our #1 host of VPN providers in 2019 or email Jason Brozena at jason.brozena@totalserversolutions.com

To learn more news about VPN, please visit: https://vpn.com/press

To learn more about Michael Gargiulo on Forbes, please visit: https://www.forbes.com/sites/forbestechcouncil/people/michaelgargiulo/

To view VPN’s Inc. Verified Profile, please visit: https://www.inc.com/profile/VPN

See More: The WAR on VPN & FREE SPEECH in Hong Kong, China Explained!

See More: VPN Remembers 9/11 by Donating ToddBeamer.com to Hero’s Family

See More: Can You Build Your Own VPN?

See LinkedIn Post: VPN.com Sells LaptopReviews.com to Digital Trends

See LinkedIn Post: Protecting-Attorney Client Privilege with a VPN

More Information: VPN.com is a worldwide leader in VPN research and statistics. The company has collected 188,000 data points across 900 VPN providers, giving people the only way to quickly review and compare hundreds of VPN providers at once. Through transparent research, extensive testing and a drive to protect the world, VPN.com will help 100 million consumers and businesses find the best privacy and security services by 2022.

In addition to VPNs, VPN.com helps countless entrepreneurs and brands the best domain name. VPN.com has bought and sold millions of dollars of domains and has helped tens of millions of people protect their privacy online. Whether you need to buy or sell, VPN help you transact your premium domain today at: vpn.com/domains

For media and interview inquiries, please email: pr@vpn.com or visit: https://www.vpn.com/press

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