Day: June 22, 2023

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ROSEN, TRUSTED AND TOP RANKED INVESTOR COUNSEL, Encourages Charles River Laboratories International, Inc. Investors with Losses to Secure Counsel Before Important Deadline in Securities Class Action – CRL

NEW YORK, June 21, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Charles River Laboratories International, Inc. (NYSE: CRL) between May 5, 2020 and February 21, 2023, both dates inclusive (the “Class Period”), of the important July 18, 2023 lead plaintiff deadline.

SO WHAT: If you purchased Charles River 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 Charles River class action, go to https://rosenlegal.com/submit-form/?case_id=12403 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 18, 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) Charles River had engaged in illegal activity with respect to its importation of non-human primates for research; (2) as a result, Charles River was at a heightened risk of criminal and regulatory investigation by, inter alia, the U.S. Department of Justice (“DOJ”); (3) as a result, Charles River would be forced to suspend shipments of primates from Cambodia; and (4) as a result of the foregoing, defendants’ positive statements about Charles River’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 Charles River class action, go to https://rosenlegal.com/submit-form/?case_id=12403 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 8862237

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ROSEN, GLOBAL INVESTOR COUNSEL, Encourages DZS Inc. Investors with Losses to Secure Counsel Before Important Deadline in First Filed Securities Class Action Commenced by the Firm – DZSI

NEW YORK, June 21, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of DZS Inc. (NASDAQ: DZSI) between March 10, 2023 and May 31, 2023, both dates inclusive (the “Class Period”), of the important August 14, 2023 lead plaintiff deadline in the securities class action commenced by the Firm.

SO WHAT: If you purchased DZS 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 DZS class action, go to https://rosenlegal.com/submit-form/?case_id=16915 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 14, 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) DZS’ financial statements from March 31, 2023 to the present contained certain errors; (2) as a result, DZS would need to restate its previously filed quarterly financial statement for the period ending March 31, 2023; (3) the Company had ongoing undisclosed issues with its internal controls over financial reporting; and (4) 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 DZS class action, go to https://rosenlegal.com/submit-form/?case_id=16915 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 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, 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 8862255

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Pakistan, Saudi Arabia agree to further bolster bilateral cooperation

Prime Minister Muhammad Shehbaz Sharif and Saudi Crown Prince and Prime Minister Mohammed bin Salman have agreed to expedite the collaborative process in order to further bolster the bilateral cooperation.

The understanding to this effect reached during an interaction between the two leaders on the sidelines of the New Global Financing Pact Summit being held at Paris in France. The two leaders also exchanged views on matters of bilateral interest.

During the interaction, the Prime Minister expressed his best wishes for Saudi King Salman bin Abdulaziz whereas Prince Mohammed bin Salman also expressed the sentiments of goodwill towards the government and people of Pakistan.

Source: Radio Pakistan

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Can Budget Enable $5 Billion Rice Exports?

Among the long list of agriculture initiatives announced in the Rs. 14.4 trillion budget was the blanket duty exemption on agriculture machinery i.e. harvesters, seed planters, trans-planters, and most importantly, dryers for agriculture products but easing this single export can add $5 billion into exports annually.

Only 1 percent of small rice mills out of the total of 800-900 in Sindh province have dryers due to it being cost-heavy with custom duties and high markup loans. Plus, the import restrictions didn’t make it any easy either to import agricultural machinery, but why are the dryers so important?

The dry rice is priced far higher than its wet counterparts in all seasons due to the longer shelf life. “We are often unable to hold and export rice after March because we lack dryers, so we end up selling when the market is paying the least”, a rice trader from Sindh told ProPakistani.

He added that millers are often unable to hold rice for more than one month on the other hand, our regional competitors in India have rice stored for nearly two years as they have better facilities.

On top of that, he went on, higher electricity prices and increased markups of the Export Finance Scheme (EFS) are also hurting exporters while some have opted for solar power to survive this challenging time.

The international market is witnessing the biggest rice shortage in two decades with conflict in Ukraine and weather extremes in China and Pakistan declining production. Prices have seen multiple peaks from $16 per quintal in October when Pakistan’s harvest starts to come in the market to $19.6 per quintal recently, but specific contacts can often price higher for variety and better quality.

Apart from the increased market value, drying also provides security against weather risk and enables exporters to hold their stocks till they can get better rates. But in Pakistan, when rice is harvested from 3 million acres in a one to two months time period, there is no window for conventional drying.

Moreover, wheat sowing urgency is on the horizon around that time and farmers often harvest and sell their paddy even at 21 percent moisture which is bound to discolour in a few months unless dried. Customers are often willing to buy rice from Pakistan at even higher prices than competitors, but our low shelf life beats us in the middle.

Even at the moment, the rice exported from Pakistan is going to the United Arab Emirates (UAE) in Indian-run processing mills in tax-free zones, and from there, it is being exported around the globe, with their stamps of course. Our traders are making 20–25 percent margins per container despite all of that per our sources, so one can only imagine what Indians are making from that.

Talking about the initiatives in the budget, one trader said that while it’s a good initiative on paper, it will be seen whether the government allows the LCs or not. The government’s unrealistic numbers presented in the budget have baffled everyone from academics to industry professionals who say that it tried painting the picture of ‘business as usual’ which is far from reality.

If anything, the budget has only increased the economic uncertainty prevailing since last year, and it will take far more than announcements to make the $5 billion rice exports target a reality. Rice is Pakistan’s second-largest export, and it deserves facilitation from all fronts from research to processing.

Source: Pro Pakistani

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Lucky Cement Moves Rs. 116 Billion Funds to Separate Capital Reserves

Lucky Cement Limited (PSX: LUCK) has decided to reclassify Rs. 116 billion from its revenue reserves to separate capital reserves (un-distributable by way of dividend), the company informed the Pakistan Stock Exchange on Thursday.

According to the stock filing, this re-classification will help “more accurately reflect the nature of these reserves”.

Accordingly, the company has approved the allocation as hereunder:

Current Classification Re-classify to Capital Reserves (Not Available for distribution by way of dividend) Amount (PKR in billion)

General reserves and unappropriated profits Capital reserve against long-term investments 40

Capital reserve against capacity expansions 40

Capital redemption reserve u/s 88 of the Companies Act, 2017 36

Total 116

At today’s meeting, the Board of Directors (BoD) discussed that over the years the Company has continued with its expansion and diversification strategy and has made significant investments that have enhanced enterprise value for the shareholders. In addition, the Company has carried out the buyback of its shares in the past and continues to do the same at present.

The Board noted that because of these reasons, the general reserves of the Company have been utilized and are not entirely available for distribution as dividends. Due to this reason, the BoD decided to reclassify Rs. 116 billion to separate capital reserves.

Separately, the board also decided not to proceed with the expansion of the company’s permitted share capital and not to change the Lucky Cement Articles of Association.

Source: Pro Pakistani

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HEC Takes a U-Turn on Holi Ban After Fierce Backlash on Social Media

The Higher Education Commission (HEC) has retracted its notification regarding the observance of Holi and other festivals contrary to Islamic traditions in national universities.

The directive, which was released recently, had caused a stir among various stakeholders.

After reviewing the matter, the HEC acknowledged that the notification had been presented in an incorrect manner and clarified its stance.

The commission emphasized that it respects the religious beliefs of all individuals and groups, highlighting its commitment to upholding the freedom to celebrate religious festivals in the country.

The initial directive had been misinterpreted as a restriction on religious celebrations. However, the HEC clarified that in accordance with campus policies regarding religious beliefs and national ideology, every student is entitled to the freedom to observe festivals.

To avoid further confusion and address misunderstandings, the HEC has withdrawn the notification. This resolution brings an end to the controversy surrounding the issue of religious celebrations in national universities.

Source: Pro Pakistani

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