January 23, 2022

ROSEN, A GLOBALLY RECOGNIZED FIRM, Encourages Berkeley Lights, Inc. Investors With Losses Over $100K to Secure Counsel Before Important February 7 Deadline in Securities Class Action – BLI

NEW YORK, Jan. 23, 2022 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Berkeley Lights, Inc. (NASDAQ: BLI) between July 17, 2020 and September 14, 2021, inclusive (the “Class Period”), of the important February 7, 2022 lead plaintiff deadline.

SO WHAT: If you purchased Berkeley Lights 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 Berkeley Lights class action, go to http://www.rosenlegal.com/cases-register-2222.html 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. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than February 7, 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 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 that: (1) Berkeley Lights’ flagship instrument, the Beacon, suffered from numerous design and manufacturing defects including breakdowns, high error rates, data integrity issues and other problems, limiting the ability of biotechnology companies and research institutions to consistently use the machines at scale; (2) Berkeley Lights had received numerous customer complaints regarding the durability and effectiveness of Berkeley Lights’ automation systems, including complaints related to the design and manufacturing; (3) the actual market for Berkeley Lights’ products and services was a fraction of the $23 billion represented to investors because of, among other things, the relatively high cost of Berkeley Lights’ instruments and consumables and inability to provide the sustained performance necessary to justify these high costs; and (4) as a result, defendants’ statements to investors during the Class Period regarding Berkeley Lights’ business, operations, and financial results were materially false and misleading. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Berkeley Lights class action, go to http://www.rosenlegal.com/cases-register-2222.html 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.

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.

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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
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

January 23, 2022January 24, 2022

Current Account Deficit Surges Over $9 Billion in H-1 FY22

The current account deficit has continued to balloon in recent months due to the higher import bill, surging over $9 billion during the first half of the current financial year 2021-22.

According to statistics updated by the State Bank of Pakistan, the current account deficit has surged to $9.09 billion during the period of July to December 2021 versus the current account surplus of $1.24 billion reported in a similar period of the last financial year.

Higher cost of imports on the account of petroleum products, raw materials for automobile and textile sectors, and various commodity prices have kept the imports higher which widened the trade deficit as well as the current account deficit of the country. Besides, the extra expense of vaccination imports also increased the import bill.

In December 2021, the current account deficit reached the highest level of $1.9 billion in the current and previous financial years.

SBP commented:

The current account deficit (CAD) was broadly unchanged at $1.93 billion in December 2021 from $1.89 billion in November 2021. Cumulatively, led by significant terms of trade shock amid ongoing economic recovery, CAD reached $9.09 billion in Jul-Dec FY22

The trade deficit of goods and services increased by 86 percent or $10.6 billion during the period of six months, from July to December of the current fiscal year as compared to the same period in the last year.

Meanwhile, the export receipts of $15.23 billion stood 28 percent or $3.4 billion higher year-on-year during the period of July to December 2021.

Inflows of remittances showed a growth of over 11 percent or $1.6 billion in the said period to stand at $12.9 billion this year.

The staggering current account deficit had posed a persistent worrisome situation for the economic managers and the banking regulator which introduced various strict measures to curb non-essential imports in the country. However, the results are yet to be seen as the import bill has remained out of control since the beginning of the current financial year.

In the recent annual report on The State of Economy, SBP projected that the current account deficit will settle between 2 and 3% of the GDP.

Source: Pro Pakistani

January 23, 2022January 24, 2022

State Life Insurance To Issue Over Rs. 100 Billion Claims to Policyholders: Chairman

The insurance sector driven by the state-owned insurance company, State Life Insurance Corporation concluded a healthy business year, with a handsome claim of over Rs. 100 billion to be paid to the policyholders for 2021, said Shoaib Javed Hussain, Chairman, and CEO of State Life Insurance Corporation said.

Talking to the delegation of Council of Economic and Energy Journalists (CEEJ), he said that premium growth of the insurance policy is back on track after contraction for the period of one year in 2020 due to Covid-19 related lockdowns.

He mentioned that not only has the growth of insurance premium recovered but the state-owned insurance providers also paid claims of Rs. 67 billion to its policyholders.

He was of the view that 2021 was a year of recovery with the premium of life insurance growing by 60 percent whereas the growth in health insurance stood at 100 percent and group insurance at 250 percent.

It is noteworthy to mention here that State Life Insurance Corporation is the only service provider to the federal government’s project of Sehat Sahulat Scheme in which an amount of Rs. 25 billion allocated for KP and Rs. 100 billion for Punjab, AZK, Gilgit-Baltistan.

State Life Insurance Corporation Limited has waived off the penalty of millions of rupees of their beneficiaries or policyholders who failed to pay their premium payment due to the financial crisis, he added.

Source: Pro Pakistani