Day: August 22, 2022

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ROSEN, LEADING INVESTOR COUNSEL, Encourages Celsius Investors to Secure Counsel Before Important Deadline in Securities Class Action – CEL

NEW YORK, Aug. 21, 2022 (GLOBE NEWSWIRE) —

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of Celsius Financial Products, including CEL Tokens, Earn Rewards high-interest accounts, and/or Celsius Loan products, between February 9, 2018, and June 13, 2022, inclusive (the “Class Period”), against Celsius Network LLC (“Celsius”), Celsius Lending LLC, Celsius KeyFi LLC (collectively, the “Celsius Entities”) and its executives Alexander Mashinsky, Shlomi “Daniel” Leon, David Barse, and Alan Jeffrey Carr (together, “Defendants”), of the important September 13, 2022 lead plaintiff deadline.

SO WHAT: If you purchased Celsius Financial Products, including CEL Tokens, Earn Rewards high-interest accounts, and/or Celsius Loan products you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Celsius class action, go to https://rosenlegal.com/submit-form/?case_id=7586 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than September 13, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

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 handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. 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.

DETAILS OF THE CASE: According to the lawsuit, Defendants violated provisions of the Securities Act by selling non-exempt securities without registering it. The complaint alleges that Celsius and Individual Defendants violated provisions of the Securities Act by also participating in Celsius’ failure to register the Celsius Financial Products. The complaint alleges that the Defendants violated provisions of the New Jersey Common Law by possessing the monetary value of Celsius Financial Products of inflated value which rightfully belongs to the Plaintiff and members of the Class.

Also according to the lawsuit, Defendants violated provisions of the Exchange Act by carrying out a plan, scheme, and course of conduct that Celsius intended to and did deceive retail investors and thereby caused them to purchase Celsius Financial Products at artificially inflated prices; endorsed false statements they knew or recklessly should have known were material misleading, and they made untrue statements of material fact and omitted to state material facts necessary to make the statements made not misleading.

To join the Celsius class action, go to https://rosenlegal.com/submit-form/?case_id=7586 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

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
[email protected]
[email protected]
[email protected]
www.rosenlegal.com

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ROSEN, GLOBAL INVESTOR COUNSEL, Encourages MINISO Group Holding Limited Investors to Secure Counsel Before Important Deadline in Securities Class Action Initiated by the Firm – MNSO

NEW YORK, Aug. 21, 2022 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, announces it has filed a class action lawsuit on behalf of purchasers of the securities of MINISO Group Holding Limited (NYSE: MNSO) pursuant and/or traceable to the registration statement and related prospectus (collectively, the “Registration Statement”) issued in connection with MINISO’s October 2020 initial public offering (the “IPO”). If you wish to serve as lead plaintiff, you must move the Court no later than October 17, 2022.

SO WHAT: If you purchased MINISO securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the MINISO class action, go to https://rosenlegal.com/submit-form/?case_id=7814 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 17, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

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.

DETAILS OF THE CASE: According to the lawsuit, the Registration Statement featured false and/or misleading statements and/or failed to disclose that: (1) defendants and other undisclosed related parties owned and controlled a much larger amount of MINISO stores than previously stated; (2) as a result, MINISO concealed its true costs; (3) the Company did not represent its true business model; (4) defendants, including the Company and its Chairman, engaged in planned unusual and unclear transactions; (5) as a result of at least one of these transactions, the Company is at risk of breaching contracts with Chinese authorities; (6) the Company would imminently and drastically drop its franchise fees; and (7) as a result of the foregoing, defendants’ statements about the Company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the MINISO class action, go https://rosenlegal.com/submit-form/?case_id=7814 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

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
[email protected]
[email protected]
[email protected]
www.rosenlegal.com

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ROSEN, GLOBAL INVESTOR COUNSEL, Encourages Kiromic BioPharma, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action – KRBP

NEW YORK, Aug. 21, 2022 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Kiromic BioPharma, Inc. (NASDAQ: KRBP): (i) pursuant and/or traceable to the offering documents issued in connection with the Company’s initial public offering conducted on or about July 2, 2021 (the “IPO”); and/or (ii) between June 25, 2021 and August 13, 2021, both dates inclusive (the “Class Period”), of the important October 4, 2022 lead plaintiff deadline.

SO WHAT: If you purchased Kiromic BioPharma securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Kiromic BioPharma class action, go to https://rosenlegal.com/submit-form/?case_id=8051 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 4, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

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 handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. 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.

DETAILS OF THE CASE: According to the lawsuit, the IPO documents failed to disclose that the U.S. Food and Drug Administration (“FDA”) had, prior to the filing of the IPO documents, imposed a clinical hold, and in fact, contained statements indicating that it had not. Given that the IPO closed on July 2, 2021, more than thirty (30) days after Kiromic BioPharma submitted the Investigational New Drug (“IND”) applications for its two immunotherapy product candidates, investors were assured that no clinical hold had been issued and clinical trials would commence.

Kiromic BioPharma, however, received communications from the FDA on June 16 and 17, 2021, informing it that the FDA was placing the IND applications for its two candidate products on clinical hold. The IPO documents failed to disclose this information, instead representing that clinical testing was expected to proceed in the third quarter of 2021. Clinical testing did not proceed in the third quarter of 2021, nor was it likely given the FDA’s imposition of a clinical hold. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Kiromic BioPharma class action, go to https://rosenlegal.com/submit-form/?case_id=8051 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

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
[email protected]
[email protected]
[email protected]
www.rosenlegal.com

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SANY becomes the first Chinese heavy equipment manufacturer to “export” a lighthouse factory

BEIJING, Aug. 22, 2022 /PRNewswire/ — On August 15th, the first excavator SY315CKD manufactured in SANY’s lighthouse factory in Indonesia rolled off the line, an epoch in SANY’s intelligent manufacturing and also marking the overseas launch of the first lighthouse factory in the Chinese construction machinery industry.

Lighthouse factory

A better one

Located 70 kilometers away from the capital city of Jakarta, the 10,000-square-meter plant sits in KIM Industrial Park in Indonesia, with a total investment of nearly 30 million USD. Supplying mainly the southeastern Asia market, the planned annual production of this excavator is 3,000 units.

With a high level of standardization, SANY lighthouse factories look almost identical: AGVs shuttle back and forth between production lines and warehouses, and 100 or so human operators and over 500 robots work together in a highly coordinated fashion. Now, online interconnection and autonomy have been realized in 12 major links throughout the production chain, including assembly, logistics and commissioning.

“In the sense of digitization and automation, SANY is the “smartest” construction machinery manufacturer in China,” said Ding Shifeng, the project leader. “This factory in Indonesia, drawing experiences from over 40 of its counterparts already built in China, epitomizes the latest R&D achievements. It is the first “Industrial 4.0″ production base outside of China in the industry.” With a 5:1 ratio of robots to humans, the per-capita output reaches 1.62 million USD, making SANY’s latest lighthouse factory deserving of being named “the smartest”.

Made and created by SANY

More than a technology export, this factory is also an export of the standard of intelligent manufacturing of China’s construction machinery industry.

Compared to SANY’s other bases in the US, Germany, India and Pakistan, this lighthouse factory is completely made and created by SANY – from the design, construction and commissioning of the plant and its facilities to its operation and management.

SANY owns the independent intellectual property rights on all the digitized operational software systems applied in the plant, including IMOM and WMS, among others.

“Every piece of data in the industrial software and every bolt in the manufacturing facilities are produced according to SANY’s standard,” said Shifeng. “This is a first for us, in this industry, to see a “made in China” mark on a standard, not on a product.”

10 more to go

Recently, SANY Heavy Industry was listed as one of the “50 smartest companies” by MIT Technology Review, becoming the first among Chinese heavy equipment manufacturers.

“Being smart means to be farsighted, and so we are now refocusing from international sales to international manufacturing, especially intelligent manufacturing,” Shifeng added. “Indonesia is a significant test run of establishing a world map of our lighthouse factories, which will include 10 more in the future.”

Moreover, SANY will establish a training center affiliated with the factory that will accommodate 600 local trainees.

Di Wu
+86-18890074901
[email protected]

Photo – https://mma.prnewswire.com/media/1881388/IMAGE.jpg

Logo – https://mma.prnewswire.com/media/1518641/logo_Logo.jpg

 

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Putin Courts Erdogan, as Turkey Claims Ukraine Grain Deal Success

ISTANBUL —

Turkey is touting its recent success in brokering a deal to free up grain trapped in Ukrainian ports as a good reason why it should maintain close ties with Russia. Those relations are deepening further as Russian President Vladimir Putin has invited Turkish leader Recep Tayyip Erdogan to attend a Russia-China security alliance meeting next month.

Two more ships departed Ukraine for Greece and Egypt on Monday, carrying 30,000 metric tons of grain.

Since July’s Turkey U.N.-brokered deal with Russia and Ukraine, more than 600,000 metric tons of grain have been exported from Ukrainian ports. On Saturday, U.N. Secretary-General Antonio Guterres, accompanied by Erdogan, visited the coordination center that has been set up in Istanbul.

Speaking at a press conference, Guterres reaffirmed the importance of the grain deal.

“Getting more food and fertilizer out of Ukraine and Russia is critical to further calm commodity markets and lower prices for consumers,” he said.

Guterres said Ankara played a “pivotal role” in securing the grain export deal. With increasing numbers of ships leaving Ukrainian ports, Ankara portrays the agreement as a vindication of its policy of maintaining close ties with Moscow.

Political analyst Ilhan Uzgel of the Duvar news portal said: “Erdogan grabbed a role diplomatically, showing to the West that Turkey can be a useful actor in this region, mitigating the adverse effects of the food crisis globally. So, he is playing it domestically and internationally like he did before in many instances.”

In the past month, Erdogan has met with Putin twice, despite Western allies’ efforts to ostracize the Russian leader.

Ankara also refuses to enforce Western sanctions against Russia.

In a move analysts say is likely to sow further discord with Turkey’s NATO partners, Putin invited Erdogan to attend September’s meeting of the Shanghai Cooperation Organization, a Chinese-Eurasian security organization.

Galip Dalay, a Russia-Turkey expert at the London-based Chatham House, said Putin’s invitation and regular meetings with Erdogan are part of a broader Russian strategy.

“Putin’s telling the international community, ‘Actually, I am not as isolated as the West wants or portrays it to be.’ So, the symbolism of these [Erdogan-Putin] meetings and including Erdogan potentially joining the Shanghai Cooperation (organization) meeting in Uzbekistan, the symbolism is more important than the substance. And I think right now, Putin’s audience is the part of the West that is skeptical of a more heavy-handed policy towards Russia.”

Erdogan argues that maintaining close ties with Putin while at the same time having similar close relations with Ukrainian President Volodymyr Zelenskyy — with whom he held talks last week in Ukraine — puts him in a unique position to end the conflict.

Analyst Uzgel said the brokering of the grain deal underscores that Erdogan could play such a role, but only when the sides are ready to talk.

“If Putin decides to end the war, I don’t know if Ukrainians will concede to the presence of the Russian military there,” Uzgel said. “At that point, Erdogan may play a role. He has a chance. He is a good candidate to bring these sides together.”

Criticism of Erdogan over his ties to Putin from his Western allies have been muted. However, analysts say that silence will likely depend on whether Erdogan’s close ties to Putin can continue to deliver tangible results in at least mitigating the worst effects of the Ukrainian war.

 

 

 

Source: Voice of America

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HM King leaves for Five-Way Arab Summit in Egypt

His Majesty King Hamad bin Isa Al Khalifa left the Kingdom, for the Five-way Arab Summit upon an invitation from Egyptian President Abdel Fattah El-Sisi.

 

UAE President His Highness Shaikh Mohammed bin Zayed Al Nahyan, Jordan King His Majesty Abdullah II bin Al Hussein, and Iraq Prime Minister Mustafa Al Kadhimi, will also participate in the summit.

 

HM King Hamad will also participate in the opening of Al Masah Hotel.

 

His Majesty was bidden farewell by His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister.

 

 

 

Source: Bahrain News Agency

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Qatar Detains Workers Protesting Late Pay Before World Cup

DUBAI, UNITED ARAB EMIRATES —

Qatar recently arrested at least 60 foreign workers who protested going months without pay and deported some of them, an advocacy group said, just three months before Doha hosts the 2022 FIFA World Cup.

The move comes as Qatar faces intense international scrutiny over its labor practices ahead of the tournament. Like other Gulf Arab nations, Qatar heavily relies on foreign labor. The workers’ protest a week ago — and Qatar’s reaction to it — could further fuel the concern.

The head of a labor consultancy investigating the incident said the detentions cast new doubt on Qatar’s pledges to improve the treatment of workers. “Is this really the reality coming out?” asked Mustafa Qadri, executive director of the group, Equidem Research.

In a statement to The Associated Press on Sunday night, Qatar’s government acknowledged that “a number of protesters were detained for breaching public safety laws.” It declined to offer any information about the arrests or any deportations.

Video footage posted online showed some 60 workers angry about their salaries protesting on August 14 outside of the Doha offices of Al Bandary International Group, a conglomerate that includes construction, real estate, hotels, food service and other ventures. Some of those demonstrating hadn’t received their salaries for as many as seven months, Equidem said.

The protesters blocked an intersection on Doha’s C Ring Road in front of the Al Shoumoukh Tower. The footage matched known details of the street, including it having several massive portraits of Qatar’s ruling emir, Sheikh Tamim bin Hamad Al Thani, looking down on passers-by.

Al Bandary International Group, which is privately owned, did not respond to requests for comment and a telephone number registered in its name did not connect on multiple attempts to call it.

The Qatari government acknowledged that the firm hadn’t paid salaries and that its Labor Ministry would pay “all delayed salaries and benefits” to those affected.

“The company was already under investigation by the authorities for nonpayment of wages before the incident, and now further action is being taken after a deadline to settle outstanding salary payments was missed,” the government said.

Qadri said police later arrested the protesters and held them in a detention center where some described being in a stifling heat without air conditioning. Doha’s temperature this week reached around 41 degrees Celsius (105.8 degrees Fahrenheit).

Qadri described police telling those held that if they can strike in hot weather, they can sleep without air conditioning.

One detained worker who called Equidem from the detention center described seeing as many as 300 of his colleagues there from Bangladesh, Egypt, India, Nepal and the Philippines. He said some had been paid salaries after the protest while others hadn’t. His comments could not be corroborated.

Qatar, like other Gulf Arab nations, has in the past deported demonstrating foreign workers, and tied residency visas to employment. The right to form unions remains tightly controlled and available only to Qataris, as is the country’s limited right to assembly, according to the Washington-based advocacy group Freedom House.

Qatar, a small, energy-rich nation on the Arabian Peninsula, is home to the state-funded Al Jazeera satellite news network. However, expression in the country remains tightly controlled. Last year, Qatar detained and later deported a Kenyan security guard who wrote and spoke publicly about the woes of the country’s migrant labor force.

Since FIFA awarded the tournament to Qatar in 2010, the country has taken some steps to overhaul the country’s employment practices. That includes eliminating its so-called kafala employment system, which tied workers to their employers, who had say over whether they could leave their jobs or even the country.

Qatar also has adopted a minimum monthly wage of 1,000 Qatari riyals ($275) for workers and required food and housing allowances for employees not receiving that directly from their employers.

Activists like Qadri have called on Doha to do more, particularly when it comes to ensuring workers receive their salaries on time and are protected from abusive employers.

“Have we all been duped by Qatar over the last several years?” Qadri asked, suggesting that recent reforms might have been “a cover” for authorities allowing prevailing labor practices to continue.

 

 

Source: Voice of America

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HM King arrives in Egypt to participate in five-party summit

His Majesty King Hamad bin Isa Al Khalifa arrived in Egypt today in response to an invitation by Egyptian President Abdel Fattah El-Sisi to participate in the five-party summit.

The summit will convene on Tuesday in the presence of the UAE President HH Shaikh Mohammed bin Zayed Al Nahyan, Jordanian Monarch HM King Abdullah II Ibn Al-Hussain, and Iraqi Prime Minister Mustafa Al-Kadhimi. HM the King will also attend the inauguration of Al Masa Hotel.

On arrival at El Alamein International Airport, HM the King was welcomed by the Egyptian President and senior officials in the Egyptian government.

Following the official reception protocols, HM the King saluted senior officials in the Egyptian government while President El-Sisi saluted members of the official delegation accompanying HM the King.

HM the King and the Egyptian President exchanged cordial talks that reflected the deep fraternal relations between Bahrain and Egypt.

HM the King underlined deep historical ties binding both countries and peoples and mutual keenness to further cement them in all fields.

He stressed the importance of enhancing bilateral cooperation to further promote strategic partnership between both countries and achieve common aspirations for more growth and prosperity.

HM the King commended the efforts exerted by the Egyptian President to foster pan-Arab action and achieve its noble goals, wishing Egypt further security and prosperity.

HM the King’s convoy headed to Al Masa Hotel where HM attended its opening ceremony.

HM the King, the Egyptian President, the UAE President, the Jordanian Monarch, the Iraqi Prime Minister and the audience were briefed on the construction of the hotel and on its facilities.

HM the King attended a lunch banquet hosted by the Egyptian President in honour of the leaders participating in the five-party summit.

 

 

 

Source: Bahrain News Agency