June 17, 2023 – Business Observer

June 17, 2023

ROSEN, TRUSTED INVESTOR COUNSEL, Encourages NextEra Energy, Inc. Investors with Losses to Secure Counsel Before Important Deadline in Securities Class Action – NEE, NEE-PR, NEE-PQ

NEW YORK, June 17, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of NextEra Energy, Inc. (NYSE: NEE, NEE-PR, NEE-PQ) between December 2, 2021 and February 1, 2023, both dates inclusive (the “Class Period”), of the important July 25, 2023 lead plaintiff deadline.

SO WHAT: If you purchased NextEra 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 NextEra class action, go to https://rosenlegal.com/submit-form/?case_id=16680 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 July 25, 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. 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) NextEra’s primary subsidiary, Florida Power and Light Co. (“FPL”), surreptitious orchestration of political misconduct exposed NextEra to substantial legal and reputational risk; and (2) in light of the above, defendant’s 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 NextEra class action, go to https://rosenlegal.com/submit-form/?case_id=16680 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.

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

GlobeNewswire Distribution ID 8859793

June 17, 2023

ROSEN, A HIGHLY RECOGNIZED LAW FIRM, Encourages Canopy Growth Corporation Investors with Losses to Secure Counsel Before Important Deadline in Securities Class Action – CGC

NEW YORK, June 17, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Canopy Growth Corporation (NASDAQ: CGC) between May 31, 2022 and May 10, 2023, both dates inclusive (the “Class Period”), of the important July 24, 2023 lead plaintiff deadline.

SO WHAT: If you purchased Canopy Growth 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 Canopy Growth class action, go to https://rosenlegal.com/submit-form/?case_id=16092 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 July 24, 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 false and/or misleading statements and/or failed to disclose that: (1) there were material weaknesses in Canopy Growth’s internal controls over accounting and financial reporting; (2) as a result, Canopy Growth improperly booked sales of its BioSteel business unit; (3) as a result, Canopy Growth’s revenue was overstated; and (4) as a result of the foregoing, defendants’ positive statements about Canopy Growth’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 Canopy Growth class action, go to https://rosenlegal.com/submit-form/?case_id=16092 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.

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 8859775

June 17, 2023

ROSEN, A TOP RANKED LAW FIRM, Encourages DouYu International Holdings Limited Investors to Secure Counsel Before Important Deadline in the Securities Class Action Commenced by the Firm – DOYU

NEW YORK, June 17, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of DouYu International Holdings Limited (NASDAQ: DOYU) between April 30, 2021 and May 9, 2023, both dates inclusive (the “Class Period”) of the important August 8, 2023 lead plaintiff deadline in the securities class action commenced by the Firm.

SO WHAT: If you purchased DouYu 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 DouYu class action, go to https://rosenlegal.com/submit-form/?case_id=15999 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 August 8, 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, throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose, among other things, that: (1) The Chinese government, due to concerns about issues such as video game and computer addiction, as well as content challenging its authority, could become increasingly aggressive towards DouYu regardless of how effective or sincere its attempts to comply with Chinese law were; (2) this increasingly aggressive posture subjected DouYu to a heightened risk of an investigation and subsequent government enforcement action and ultimately resulted in enforcement action; 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 DouYu class action, go to https://rosenlegal.com/submit-form/?case_id=15999 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

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.

Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. 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. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm’s attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors.

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, 40^th 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 8859790

June 17, 2023

ROSEN, A LEADING LAW FIRM, Encourages Cutera, Inc. Investors with Losses to Secure Counsel Before Important Deadline in Securities Class Action – CUTR

NEW YORK, June 17, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Cutera, Inc. (NASDAQ: CUTR) between February 17, 2021 and May 9, 2023, both dates inclusive (the “Class Period”) of the important July 24, 2023 lead plaintiff deadline.

SO WHAT: If you purchased Cutera 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 Cutera class action, go to https://rosenlegal.com/submit-form/?case_id=16520 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 July 24, 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. 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) overstated the sustainability of Cutera’s revenue growth; (2) failed to disclose significant conflicts among members of the Company’s senior leadership and Board; (3) failed to disclose several material weaknesses in the Company’s internal control over financial reporting; and (4) as a result of the foregoing, and the significant decline in the market value of the Company’s common stock, Plaintiff and other members of the Class suffered significant damages. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Cutera class action, go to https://rosenlegal.com/submit-form/?case_id=16520 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.

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 8859788

June 17, 2023

Amid Cash Crunch, Pakistan Grappling With Options to Avert Default

Pakistan is in a debt crisis. It must pay billions in debt servicing, but the state's coffers are almost empty. As hopes for reviving a bailout deal with the International Monetary Fund fade, experts say the country may escape default this month, but the situation will grow increasingly grave.

Hit by devastating floods, political instability and pandemic-related supply shocks, Pakistan's import-dependent economy has been on the brink of default for months as the country's external debt burden mounts against shrinking foreign exchange reserves.

Pakistan's total external debt stood at upward of $126 billion at the end of 2022. Most of the country's income goes to pay off the principal as well as interest on this debt.

In June, Pakistan is due to pay $3.6 billion to its lenders. According to the governor of the State Bank of Pakistan, the country's central bank, $400 million has been paid, while $2.3 billion is expected to be rolled over. Still, the country must pay $900 million. The dollar reserves of the central bank are hovering at about $4 billion.

Need for IMF

Hopes of reviving a stalled 2019 International Monetary Fund, or IMF, bailout deal faded further this week after the lender objected to a few provisions in Pakistan's proposed federal budget for the fiscal year starting July 2023.

In a statement to VOA, IMF resident representative for Pakistan, Esther Perez Ruiz, listed several measures that did not meet the lender's expectations, including a new tax amnesty that she said was "against program's conditionality and governance agenda."

However, Perez Ruiz said, "the IMF team stands ready to work with the government in refining this budget ahead of its passage."

Pakistan's Minister for Finance Ishaq Dar rejected the objections.

"Pakistan is a sovereign country and cannot accept everything the IMF demands," local media quoted Dar as saying in a briefing to the Pakistani Senate Standing Committee on Finance on Thursday.

The $6.5 billion 2019 deal regarded as a key to avoiding default would give Pakistan $1.1 billion. Not a huge amount by itself, yet it would unlock funds from other lenders, helping to ease the country's debt crisis.

To revive the deal, Islamabad slashed subsidies, increased taxes and largely stopped controlling the value of the rupee, among other steps over past few months, to woo the IMF.

Experts say the actions were too little, too late.

Differences also persisted on how much funding Pakistan should gather from friends. Islamabad failed to reach the target as allies, slow to help, signaled frustration with the country's lack of economic reform.

Default risk

The 2019 program ends June 30 with Pakistan's current fiscal year. Dar maintains Pakistan will not default if talks with the Washington-based lender fail.

"We have sovereign commitments, which the past government made. They are not PTI's [Pakistan Tehreek-e-Insaaf] or [former Prime Minister] Imran Khan's, they are Pakistan's commitments. I think even at the cost of paying a political price we must meet those obligations, and we have," Dar said at a news briefing last week.

Pakistan's major ally China, to whom it owes the largest chunk of its bilateral debt, came to its rescue yet, again. In a message to journalists late Friday night, the State Bank of Pakistan announced receiving a $1 billion loan from China. Beijing refinanced the loan which Islamabad had earlier repaid.

However, the current government's term in office ends mid-August, after which a caretaker setup will run the country until general elections.

Pakistan's former finance minister, Hafeez Pasha, told VOA if the present government fails to unlock IMF funds, it may put Pakistan's economy in peril in the new fiscal year.

"IMF will not talk to temporary governments. So, the earliest we can talk to the IMF is sometime after the elections, which could be October, November. This interim period is a period of great uncertainty. And this is what we are all very worried about," Pasha said.

Plan B

It is unclear how the government plans to manage debt repayment without the IMF.

Dar told a post-budget news conference last week that the government would engage in debt restructuring with bilateral lenders or individual countries.

Days later, the central bank governor informed analysts in a briefing that he was unaware of any such plans.

Earlier, when asked if Pakistan had a Plan B, Dar's response in a pre-budget news briefing had been an emphatic yes, but it was short on details.

He then signaled Pakistan could sell or lease assets to remain current on debt repayments.

"If you are pushed into a corner, what will you do? Lie down? Let there be a default? Pakistan is solvent. If Pakistan's loans have soared from 70 billion to 100 billion in the last four years, Pakistan also has assets worth billions," Dar told journalists.

Some experts say that in many ways, Pakistan already has defaulted, as companies face restrictions in sending dividends to shareholders overseas, airlines threaten to move out over nonpayment of dues, and parents struggle to find dollars for their children studying abroad.

Ali Khizar, research head at Business Recorder, a major Pakistani news outlet, points to the flight of human and financial capital from Pakistan as a sign.

"Pakistan may not have defaulted technically on its debt," Khizar told VOA. But, he says, as people use informal means to send money outside, large businesses leave the country, and people migrate in record numbers to find work outside Pakistan, "we have defaulted on many grounds."

Source: Voice of America

June 17, 2023

Life Returns To Normal As Cyclone Biparjoy “Largely Spares” Pakistan

Authorities in Pakistan’s south Sindh province, said yesterday that, normal life activities can be resumed in the country from today, as the threat of Cyclone Biparjoy in the Arabian Sea, off the coasts of Sindh has been averted, after it weakened into a cyclonic storm.

In a statement, Muhammad Iqbal Memon, the commissioner of Sindh’s capital city, Karachi, said that, all halted exams and educational activities can be resumed, as the threat of cyclonic danger has reduced.

The storm is still 145 km from Pakistan, and the wind speed is 80 to 90 km/hour.

Talking to media, the country’s Minister for Climate Change, Sherry Rehman, said that, there had been heavy rainfall in several areas of Sindh, but no loss of life was reported, due to precautionary measures taken by the government, before the impact of the cyclone hit.

She added that, several coastal areas were inundated by high sea levels, but most people had been evacuated to safe areas, so it did not harm anyone.

However, the Pakistan Meteorological Department said in its advisory that, despite the cyclone has been weakened, people should still take precautionary measures and refrain from visiting the seaside as the sea conditions can be rough.

The weather office also alerted fishermen to avoid venturing out into the open sea, until the system was over.

The department also forecasted heavy rains, coupled with 80-100 km/hour winds in coastal areas until today

Source: Nam News Network