March 28, 2023

Lantronix Announces New X300 Compact Cellular IoT Gateway Solution, Ideal for Mission-Critical Applications

Monitor and manage globally distributed assets with Lantronix’s X300 IoT Gateway Solution, which includes hardware, cloud-based device management, cellular connectivity, advanced security and tech support

X300 IoT Gateway

New X300 Compact Cellular IoT Gateway

IRVINE, Calif., March 28, 2023 (GLOBE NEWSWIRE) — Lantronix Inc. (NASDAQ: LTRX), a global provider of secure turnkey solutions for the Industrial Internet of Things (IoT) and the Intelligent IT market, today announced its new X300 Compact Gateway IoT Solution. Ideal for secure mission-critical applications, the new X300 Cellular Compact IoT Gateway Solution combines Lantronix’s IoT gateway hardware with a premium services subscription, including centralized device management, integrated cellular data, enhanced device security and expert technical support in an all-in-one package.

“At Lantronix, we are committed to providing our customers with turnkey IoT solutions that efficiently solve their connectivity and remote device management challenges while offering expert technical support to ensure a successful deployment,” said Paul Pickle, CEO of Lantronix. “With the new X300 Compact Gateway IoT Solution, our customers can rest assured that they have a reliable, easy-to-manage solution, achieving maximum uptime and data security for mission-critical applications.”

According to Berg insights, more than 4.5 million cellular IoT gateways were shipped globally during 2021, a 23 percent increase, at a total market value of approximately $1.15 billion as annual sales grew at a rate of 14 percent as demand recovered following the COVID-19 pandemic. Annual revenues from the sales of cellular IoT gateways is forecasted to grow at a compound annual growth rate (CAGR) of 14 percent to reach $2.18 billion by 2026.

The X300 Compact Gateway IoT Solution includes:

X300 Gateway, a compact (79mm X 79mm) IoT industrial gateway with suitable hardware interfaces, including a Multi-mode Serial port, an Ethernet LAN port, Wi-Fi® 5, Bluetooth/BLE and Worldwide cellular options, enabling the connection of any type of industrial machine and sensor with any type of network.
Services included in the first-year subscription:
- Free upgrade to ConsoleFlow premium cloud-based device management with analytics
- Connectivity Services global, convenient and scalable cellular data plans
- Free upgrade to LEVEL 2 Services prompt expert technical support and warranty with advanced hardware replacement
- Lantronix InfiniShield built-in security, including a Secure Element (SE) chip to enable secure boot, secure equipment access and secure communications and to prevent unauthorized access of confidential information

The new X300 Gateway IoT Solution will be displayed at ISC West in Las Vegas from March 28–31, 2023, in the Lantronix booth, Number 2097. For more information on this all-in-one package, visit https://www.lantronix.com/products/x300-series/

About Lantronix

Lantronix Inc. is a global provider of secure turnkey solutions for the Internet of Things (IoT) and Remote Environment Management (REM), offering Software as a Service (SaaS), connectivity services, engineering services and intelligent hardware.

Lantronix enables its customers to accelerate time to market and increase operational up-time and efficiency by providing reliable, secure and connected Intelligent Edge IoT and Remote Management Gateway solutions.

Lantronix’s products and services dramatically simplify the creation, development, deployment and management of IoT and IT projects across Robotics, Automotive, Wearables, Video Conferencing, Industrial, Medical, Logistics, Smart Cities, Security, Retail, Branch Office, Server Room and Datacenter applications. For more information, visit the Lantronix website.

Learn more at the Lantronix blog, which features industry discussion and updates. Follow Lantronix on Twitter, view our YouTube video library or connect with us on LinkedIn.

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: Any statements set forth in this news release that are not entirely historical and factual in nature, including without limitation statements related to our solutions, technologies and products. These forward-looking statements are based on our current expectations and are subject to substantial risks and uncertainties that could cause our actual results, future business, financial condition, or performance to differ materially from our historical results or those expressed or implied in any forward-looking statement contained in this news release. The potential risks and uncertainties include, but are not limited to, such factors as the effects of negative or worsening regional and worldwide economic conditions or market instability on our business, including effects on purchasing decisions by our customers; the impact of the COVID-19 outbreak on our employees, supply and distribution chains, and the global economy; cybersecurity risks; changes in applicable U.S. and foreign government laws, regulations, and tariffs; our ability to successfully implement our acquisitions strategy or integrate acquired companies; difficulties and costs of protecting patents and other proprietary rights; the level of our indebtedness, our ability to service our indebtedness and the restrictions in our debt agreements; and any additional factors included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2022, filed with the Securities and Exchange Commission (the “SEC”) on Aug. 29, 2022, including in the section entitled “Risk Factors” in Item 1A of Part I of such report, as well as in our other public filings with the SEC. Additional risk factors may be identified from time to time in our future filings. The forward-looking statements included in this release speak only as of the date hereof, and we do not undertake any obligation to update these forward-looking statements to reflect subsequent events or circumstances.

Lantronix Media Contact:
Gail Kathryn Miller
Corporate Marketing &
Communications Manager
[email protected]
949-212-0960

Lantronix Analyst and Investor Contact:
Jeremy Whitaker
Chief Financial Officer
[email protected]
949-450-7241

Lantronix Sales:
[email protected]
Americas +1 (800) 422-7055 (US and Canada) or +1 949-453-3990
Europe, Middle East and Africa +31 (0)76 52 36 744
Asia Pacific + 852 3428-2338
China + 86 21-6237-8868
Japan +81 (0) 50-1354-6201
India +91 994-551-2488

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/891ce64a-0d25-4f9e-add8-2538d7b31006

GlobeNewswire Distribution ID 8796263

March 28, 2023

Elektros Launches New Clean Energy Technology Brand – Elektros Energy

SUNNY ISLES BEACH, FL / ACCESSWIRE / March 28, 2023 / Elektros (OTC PINK:ELEK), an emerging leader in the electric mobility industry, announces the launch of its new clean energy technology brand, Elektros Energy.

Elektros Energy brand will better reflect its focus on such areas as Lithium mining, EV charging, solar energy, and innovative solutions to help accelerate the world’s transition to a cleaner and more sustainable energy future.

Lithium mining is a critical component of the clean energy industry, as it is a key material used in the production of batteries for electric vehicles and renewable energy storage. Elektros Energy is committed to responsibly sourcing Lithium, ensuring that it is extracted in an environmentally and socially responsible way.

Elektros recently announced it had begun discussions regarding potential stake or development agreement for virgin Lithium mining project located in Sierra Leon, Africa.

EV charging is another area of focus for Elektros Energy, as the demand for electric vehicles continues to rise. The company is working on developing fast, reliable, and accessible charging solutions for EV drivers to make it easier for them to adopt this sustainable mode of transportation.

The company’s patent pending Multi-Port Charging Assembly allows users to use multiple charging features on electric vehicles we plan to not only include in our designs, but aggressively market to major electric vehicle manufacturers under licensing agreements.

MISSION STATEMENT

At Elektros, our mission is to revolutionize the clean technology industry by developing innovative and sustainable solutions that empower individuals, businesses, and communities to transition to a greener future. We believe that by harnessing the power of technology, we can create a cleaner, healthier, and more sustainable world for generations to come.

We are committed to using the latest advancements in science and engineering to design and manufacture cutting-edge products that meet the highest standards of quality, efficiency, and sustainability. We strive to minimize our environmental impact by adopting sustainable practices in our operations and supply chain, while maximizing social impact through our partnerships and community engagement initiatives.

At Elektros, we believe that clean technology is the key to unlocking a brighter future, and we are dedicated to making that future a reality. We are constantly pushing the boundaries of what is possible, and we are committed to delivering the best possible outcomes for our customers, our stakeholders, and the planet.

For more information about Elektros Energy, please visit www.elektrosenergy.com

About Elektros, Inc.

Elektros, Inc. is a leading technology company dedicated to the development of innovative clean energy solutions. The company is focused on advancing the world’s transition to a cleaner and more sustainable energy future through its work in electric vehicles (EV), Lithium mining, EV charging, and solar power. With a commitment to responsible sourcing and sustainability, Elektros is working to create a more environmentally and socially conscious world. Through its focus on cutting-edge technologies and a team of experienced professionals, Elektros is poised to make a significant impact on the clean energy industry and help drive positive change for generations to come. www.elektrosenergy.com

Twitter: https://twitter.com/elektrosenergy

Facebook: https://www.facebook.com/Elektrosmotors/

Cautionary Language Concerning Forward-Looking Statements

This release contains “forward-looking statements” that include information relating to future events and future financial and operating performance. The words “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential,” and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for Elektros, Inc.’s products, the introduction of new products, the Company’s ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company’s liquidity and financial strength to support its growth, and other information that may be detailed from time to time in Elektros Inc.’s filings with the United States Securities and Exchange Commission. Examples of such forward-looking statements in this release include statements regarding future sales, costs, and market acceptance of products as well as regulatory actions at the State or Federal level. For a more detailed description of the risk factors and uncertainties affecting Elektros Inc., please refer to the Company’s Securities and Exchange Commission filings, which are available at www.sec.gov. Elektros, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT:
Elektros, Inc.
Email: [email protected]

SOURCE: Elektros, Inc.

March 28, 2023

ROSEN, GLOBAL INVESTOR COUNSEL, Encourages Dutch Bros, Inc. Investors With Losses to Secure Counsel Before Important Deadline in Securities Class Action – BROS

NEW YORK, March 27, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Dutch Bros, Inc. (NYSE: BROS) between March 1, 2022 and May 11, 2022, both dates inclusive (the “Class Period”), of the important May 1, 2023 lead plaintiff deadline.

SO WHAT: If you purchased Dutch Bros securities during the Class Period 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 Dutch Bros class action, go to https://rosenlegal.com/submit-form/?case_id=12586 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 May 1, 2023. 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 throughout the Class Period made materially false and/or misleading statements, and failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, defendants failed to disclose to investors that: (1) the Company was experiencing increased costs and expenses, including on dairy; (2) as a result, the Company was experiencing increased margin pressure and decreased profitability in the first quarter of 2022; and (3) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Dutch Bros class action, go to https://rosenlegal.com/submit-form/?case_id=12586 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.

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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

GlobeNewswire Distribution ID 8796337

March 28, 2023

Rapid Progress on Installation of INNIO’s Hydrogen Production

INNIO orders two electrolyzers for its hydrogen production plant in Jenbach

JENBACH, AUSTRIA / ACCESSWIRE / March 28, 2023 / To convert green electricity to green hydrogen (H₂) for its power-to-hydrogen-to-power project, INNIO has ordered two electrolyzers with a total capacity of 2 MW from H-TEC SYSTEMS. This represents a critical step in realizing the company’s sustainable hydrogen product strategy as part of which all new Jenbacher plants are already “Ready for H2” today. The entire Jenbacher engine product line is expected to be rolled out for 100% hydrogen operation as of 2025. At the same time, the supply of green hydrogen at the Jenbach site represents a milestone on the way to net zero operations on site.

The 2 MW system will be constructed in a container design located on the premises of the Achensee power plant of TIWAG – Tiroler Wasserkraft AG. Its subsidiary TINEXT will build the necessary compressor and storage terminals. Locally produced hydrogen – a key enabler of the energy transition – will be transported in a pipeline from the TINEXT compressor and storage terminals to INNIO’s primary operations in Jenbach.

At a system efficiency of 74%, the two H-TEC SYSTEMS PEM electrolyzers will produce a total of up to 900 kg of green hydrogen daily. This quantity is enough to power the 2 MW Jenbacher H2 engine test bench. Thus, in addition to solar, battery, and hydropower, the primary operations can also be supplied with green electricity and heat generated from green hydrogen. At its INNIO360 Energy Lab in Jenbach, INNIO demonstrates how the energy transition of an industrial plant works.

“By ordering these electrolyzers from H-TEC SYSTEMS, we are taking the next important steps in further advancing INNIO’s pioneering role in green power generation. After all, supplying green hydrogen represents an important prerequisite for the sustainable, economical, and timely implementation of our hydrogen product strategy,” states Martin Mühlbacher, INNIO Vice President and Site Manager in Jenbach. “Using green hydrogen to generate electricity allows us to further reduce the carbon footprint of our Jenbach site,” Mühlbacher continues.

“At INNIO’s energy lab, our electrolyzers will be used to expand a more secure, economical and green energy supply with combined heat and power plants,” explains Tobias Fritsch, project manager at H-TEC SYSTEMS. “This technology is the backbone of the energy transition, since hydrogen – as in this case – replaces fossil fuels and, at the same time, can be stored for weeks and even months. We appreciate the trust that INNIO has placed in us and the opportunity to jointly realize this forward-looking project for Austria.”

This project is sponsored by funds from the Climate and Energy Fund and implemented within the framework of the Austrian Research, Technological Development, and Innovation initiative “Energy Model Region.”

About INNIO

INNIO is a leading energy solution and service provider that empowers industries and communities to make sustainable energy work today. With our product brands Jenbacher and Waukesha and our digital platform myPlant, INNIO offers innovative solutions for the power generation and compression segments that help industries and communities generate and manage energy sustainably while navigating the fast-changing landscape of traditional and green energy sources. We are individual in scope, but global in scale. With our flexible, scalable, and resilient energy solutions and services, we are enabling our customers to manage the energy transition along the energy value chain wherever they are in their transition journey.

INNIO is headquartered in Jenbach (Austria), with other primary operations in Waukesha (Wisconsin, U.S.) and Welland (Ontario, Canada). A team of more than 4,000 experts provides life-cycle support to the more than 55,000 delivered engines globally through a service network in more than 100 countries.

INNIO’s improved ESG Risk Rating again secures the number one position across more than 500 companies globally in the machinery industry assessed by Sustainalytics.

For more information, visit INNIO’s website at www.innio.com. Follow INNIO on Twitter and LinkedIn.

Contact Information

Susanne Reichelt
INNIO Media Relations
[email protected]
+43 664 80833 2382

SOURCE: INNIO Group

March 28, 2023

RPT INVESTOR NOTICE: ROSEN, GLOBAL INVESTOR COUNSEL, Encourages Sarepta Therapeutics, Inc. Investors to Inquire About Securities Class Action Investigation – SRPT

NEW YORK, March 27, 2023 (GLOBE NEWSWIRE) —

WHY: Rosen Law Firm, a global investor rights law firm, continues investigating potential securities claims on behalf of shareholders of Sarepta Therapeutics, Inc. (NASDAQ: SRPT) resulting from allegations that Sarepta may have issued materially misleading business information to the investing public.

SO WHAT: If you purchased Sarepta 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=1306 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.

WHAT IS THIS ABOUT: On March 16, 2023, after market hours, the Company issued a press release which “announced that at its late cycle meeting for the SRP-9001 (delandistrogene moxeparvovec) biologics license application (BLA), the U.S. Food and Drug Administration’s Office of Therapeutics (OTP) has determined that an advisory committee meeting will be held for SRP-9001 in advance of the May 29, 2023 regulatory action date.”

As explained by the Investor’s Business Daily in an article entitled “Sarepta Crashes on an Unexpected Roadblock for Its Gene Therapy”, the Food and Drug Administration’s decision was a surprise. The article quoted a UBS analyst as saying that “given the announcement of the advisory committee decision, against a backdrop of the Office of Therapeutics communicating how capacity constrained it is at every public appearance, we do see a potential risk of (approval date) extension.”

On this news, the price of Sarepta’s stock fell $26.98, or 18%, to close at $122.69 per share on March 17, 2023, the next trading 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. 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 8796427

March 28, 2023

ROSEN, A GLOBALLY RECOGNIZED FIRM, Encourages PLDT Inc. Investors With Losses to Secure Counsel Before Important April 7 Deadline in Securities Class Action Initiated by the Firm – PHI

NEW YORK, March 28, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of PLDT Inc. (NYSE: PHI) between January 1, 2019 and December 19, 2022, both dates inclusive (the “Class Period”), of the important April 7, 2023 lead plaintiff deadline in the securities class action commenced by the Firm.

SO WHAT: If you purchased PLDT securities during the Class Period 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 PLDT class action, go to https://rosenlegal.com/submit-form/?case_id=10686 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 April 7, 2023. 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 litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. 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.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose, among other things, that: (1) there were capital spending budget overruns; (2) defendants failed to address weaknesses that allowed such budget overruns; and (3) as a result, defendants’ statements about its 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 PLDT class action, go to https://rosenlegal.com/submit-form/?case_id=10686 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or 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 8796436

March 28, 2023

ROSEN, A TOP RANKED LAW FIRM, Encourages Catalent, Inc. Investors with Losses to Secure Counsel Before Important Deadline in Securities Class Action – CTLT

NEW YORK, March 27, 2023 (GLOBE NEWSWIRE) —

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Catalent, Inc. (NYSE: CTLT) between August 30, 2021 and October 31, 2022, both dates inclusive (the “Class Period”), of the important April 25, 2023, lead plaintiff deadline.

SO WHAT: If you purchased Catalent securities during the Class Period 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 Catalent class action, go to https://rosenlegal.com/submit-form/?case_id=12490 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 April 25, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) defendants materially overstated its revenue and earnings by prematurely recognizing revenue in violation of U.S. Generally Accepted Accounting Principles (“GAAP”); (2) the Company had material weaknesses in its internal control over financial reporting related to revenue recognition; (3) the Company falsely represented demand for its products while it knowingly sold more product to its direct customers than could be sold to healthcare providers and end consumers; (4) the Company disregarded regulatory rules at key production facilities in order to rapidly produce excess inventory that was used to pad the Company’s financial results through premature revenue recognition in violation of GAAP and/or stuffing its direct customers with this excess inventory; and (5) as a result of the foregoing, defendants lacked a reasonable basis for their positive statements about the Company’s financial performance, outlook and regulatory compliance during the Class Period. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Catalent class action, go to https://rosenlegal.com/submit-form/?case_id=12490 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.

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 8796195

March 28, 2023

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

NEW YORK, March 27, 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 [email protected] or [email protected] 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.

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Contact Information:

GlobeNewswire Distribution ID 8796411

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