Pakistan – Page 200 – Emirates News

April 5, 2023

ROSEN, GLOBAL INVESTOR COUNSEL, Encourages Block, Inc. f/k/a Square, Inc. Investors with Losses to Inquire About Class Action Investigation – SQ

NEW YORK, April 04, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, continues its investigation of potential securities claims on behalf of shareholders of Block, Inc. f/k/a Square, Inc. (NYSE: SQ) resulting from allegations that Block, Inc. may have issued materially misleading business information to the investing public.

SO WHAT: If you purchased Block securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.

WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=13546 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

WHAT IS THIS ABOUT: On March 23, 2023, before the market opened, market analyst Hindenburg Research released a report entitled “Block: How Inflated User Metrics and “Frictionless” Fraud Facilitation Enabled Insiders to Cash Out Over $1 Billion.” Hindenburg’s research, which took place over a two-year period and involved “dozens of interviews with former employees, partners, and industry experts, extensive review of regulatory and litigation records” led it to conclude that the “’magic’ behind Block’s business has not been disruptive innovation, but rather the company’s willingness to facilitate fraud against consumers and the government, avoid regulation, dress up predatory loans and fees as revolutionary technology, and mislead investors with inflated metrics.” The report further alleged, among other things, that Block had “wildly overstated” its user accounts and provided banking services to violent criminals.

On this news, the price of Block’s stock declined by as much as 20% in intraday trading before closing at $61.88 on March 23, 2023, a 14.8% decline from the prior day.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

GlobeNewswire Distribution ID 8802256

April 5, 2023

ROSEN, NATIONAL TRIAL LAWYERS, Encourages Hesai Group Investors to Inquire About Securities Class Action Investigation – HSAI

NEW YORK, April 04, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Hesai Group (NASDAQ: HSAI) resulting from allegations that Hesai may have issued materially misleading business information to the investing public.

SO WHAT: If you purchased Hesai securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.

WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=13347 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

WHAT IS THIS ABOUT: On March 16, 2023, Hesai announced in a press release its unaudited financial results for the three months and full year ended December 31, 2022. The Company failed to disclose that in their fourth quarter ended December 31, 2022 (“4Q2022”), the last completed quarter before the Company’s initial public offering (“IPO”), there was “lower in-house plant capacity utilization rate”, which caused the increased shipments of lower-margin advanced driver assistance systems (“ADAS”) and light detection and ranging (“LiDAR”) products. Loss from operations widened by 84.9% in 4Q2022 compared to their fourth quarter ended in December 31, 2021.

On this news, Hesai’s share price fell $1.55, or 10%, to close at $13.69 per share on March 16, 2023.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

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Contact Information:

GlobeNewswire Distribution ID 8802291

April 5, 2023

BIRD INVESTOR NEWS: ROSEN, GLOBAL INVESTOR COUNSEL, Encourages Allbirds, Inc. Investors to Inquire About Securities Class Action Investigation – BIRD

NEW YORK, April 04, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Allbirds, Inc. (NASDAQ: BIRD) resulting from allegations that Allbirds may have issued materially misleading business information to the investing public.

SO WHAT: If you purchased Allbirds securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.

WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=12941 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

WHAT IS THIS ABOUT: On March 9, 2023, after trading hours, Allbirds issued two press releases announcing “a strategic transformation plan to reignite growth in the coming years, as well as improve capital efficiency, and drive profitability” after falling short of expectations and also that the current Chief Financial Officer would step down.

On this news, the price of Allbirds’ stock fell $1.11, or 47%, to close at $1.25 per share on March 10, 2023.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

GlobeNewswire Distribution ID 8801976

April 5, 2023

ROSEN, LEADING INVESTOR COUNSEL, Encourages Fox Corporation Investors to Inquire About Class Action Investigation – FOX, FOXA

NEW YORK, April 04, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, continues its investigation of potential securities claims on behalf of shareholders of Fox Corporation (NASDAQ: FOX, FOXA) resulting from allegations that FOX may have issued materially misleading business information to the investing public. The prospective class includes those who purchased FOX call options and/or sold put options.

SO WHAT: If you purchased FOX securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.

WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=13327 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

WHAT IS THIS ABOUT: In the wake of the 2020 U.S. Presidential Election, Dominion Voting Systems sued FOX for defamation. Dominion’s lawsuit alleges that FOX defamed Dominion’s business by endorsing, repeating or broadcasting a series of “verifiably false yet devastating lies about Dominion.” Dominion claims that various statements that were made on FOX News, including that Dominion committed election fraud by rigging the 2020 election, that Dominion’s software and algorithms manipulated vote counts in the 2020 election, that Dominion was founded for the purpose of rigging elections, and that Dominion paid kickbacks to government officials who used its machines, were defamatory and false. Dominion seeks over $1.6 billion in damages, as well as additional punitive damages.

Beginning in February 2023, specific details emerged of internal discussions at FOX in the wake of the 2020 election, revealing that FOX’s senior leaders understood that claims to the effect that Dominion had rigged the 2020 election were false. As a consequence, FOX faces significant potential legal liability.

As a result of ongoing revelations about FOX’s legal exposure in the Dominion lawsuit, FOX’s Class A stock has declined from a closing price of $37.03 on February 17, 2023 to a closing price of $32.52 on March 15, 2023, a 12% decline. FOX’s Class B stock has declined from a closing price of $34.22 on February 17, 2023 to a closing price of $29.83 on March 15, 2023, a 12% decline.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

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GlobeNewswire Distribution ID 8802261

April 5, 2023

ROSEN, LEADING INVESTOR COUNSEL, Encourages adidas AG Investors to Inquire About Securities Class Action Investigation – ADDYY, ADDDF

NEW YORK, April 04, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, continues its investigation of potential securities claims on behalf of shareholders of adidas AG (OTC: ADDYY, ADDDF) resulting from allegations that adidas may have issued materially misleading business information to the investing public.

SO WHAT: If you purchased adidas securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.

WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=12204 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

WHAT IS THIS ABOUT: On October 25, 2022, adidas ended its lucrative business partnership with Kanye West (under which it sold products designed by West under the brand name “Yeezy”) as a result of his anti-Semitic rhetoric.

On November 27, 2022, The Wall Street Journal published an article entitled “Adidas Top Executives Discussed Risk of Staff’s ‘Direct Exposure’ to Kanye West Years Ago.” According to the article, as early as 2018, adidas executives discussed ending the business partnership with West as a result of his behavior. Reportedly adidas feared continuing the relationship with West, as they feared it could “blow up” at any moment. The article added that West made anti-Semitic statements in front of adidas staff, and that he told adidas staff that he was considering naming an album after Adolf Hitler.

On February 9, 2023 adidas announced that “while the company continues to review future options for the utilization of its Yeezy inventory, this guidance already accounts for the significant adverse impact from not selling the existing stock. This would lower revenues by around € 1.2 billion and operating profit by around € 500 million this year.” Further, “should the company irrevocably decide not to repurpose any of the existing Yeezy product going forward, this would result in the write-off of the existing Yeezy inventory and would lower the company’s operating profit by an additional € 500 million this year. In addition, adidas expects one-off costs of up to € 200 million in 2023. These costs are part of a strategic review the company is currently conducting aimed at reigniting profitable growth as of 2024. If all these effects were to materialize, the company would expect to report an operating loss of € 700 million in 2023.” adidas’ CEO stated, “[t]he numbers speak for themselves. We are currently not performing the way we should[.]”

As a result of these adverse disclosures the price of adidas securities have fallen, damaging investors.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

——————————–

Contact Information:

GlobeNewswire Distribution ID 8801894