You are here: Home » 2023 » May » Archives for 17th

ROSEN, NATIONAL TRIAL LAWYERS, Encourages TAL Education Group Investors to Secure Counsel Before Important Deadline in Securities Class Action First Filed by the Firm – TAL

NEW YORK, May 17, 2023 (GLOBE NEWSWIRE) —

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of American Depositary Shares ("ADSs") of TAL Education Group (NYSE: TAL) between June 14, 2022 and March 14, 2023, both dates inclusive (the "Class Period"), of the important May 30, 2023 lead plaintiff deadline in the securities class action first filed by the Firm.

SO WHAT: If you purchased TAL 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 class action, go to https://rosenlegal.com/submit–form/?case_id=3137 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 May 30, 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, throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose that: (1) TAL was still providing K9 Academic AST Services; and (2) as a result, defendants' statements about TAL's business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the TAL class action, go to https://rosenlegal.com/submit–form/?case_id=3137 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.

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 8841954)

ROSEN, NATIONAL TRIAL COUNSEL, Encourages Telephone and Data Systems, Inc. Investors with Losses to Secure Counsel Before Important Deadline in Securities Class Action – TDS, TDSPrU, TDSPrV

NEW YORK, May 17, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Telephone and Data Systems, Inc. (the "Company" or "TDS") (NYSE: TDS, TDSPrU, TDSPrV) between May 6, 2022 and November 3, 2022, both dates inclusive (the "Class Period"), of the important July 3, 2023 lead plaintiff deadline.

SO WHAT: If you purchased TDS 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 TDS class action, go to https://rosenlegal.com/submit–form/?case_id=15807 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 3, 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, the Company and its subsidiary, United States Cellular Corporation (“UScellular”), made false and/or misleading statements and/or failed to disclose that: (1) defendants had no reason to believe UScellular's "free upgrade" promotional activity, which was tested and trialed during the second quarter of 2022, was effective at reducing the Company's postpaid churn rate as they represented to investors, as opposed to merely adding new postpaid subscribers, when its churn rate was actually increasing or remaining constant over most quarters in the class period; (2) UScellular was not making progress with respect to its churn rate, as it represented to investors; (3) UScellular was not in fact balancing its promotional activity and its profitability; (4) due to extreme competition among postpaid carriers, UScellular did not have the flexibility to offset the costs from widespread, expensive promotions with price increases; and (5) as a result of the Companies' decision for UScellular to continue engaging in heavy promotions to address its postpaid subscriber churn rate despite any lack of positive impact on churn rate, UScellular's profitability substantially declined. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the TDS class action, go to https://rosenlegal.com/submit–form/?case_id=15807 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.

———————————————–

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 8841786)

Chairman of Avia Solutions Group Gediminas Ziemelis: 10 big challenges for passenger aviation sustainability for the next 3 years

DUBLIN, Ireland, May 17, 2023 (GLOBE NEWSWIRE) — Ensuring sustainable operations has become a primary driver for aviation businesses in recent years. Nonetheless, this dynamic industry faces a multitude of challenges that can impede companies' efforts to enhance profitability. While several factors contribute to the aviation industry's struggles, certain key issues merit highlighting as primary culprits.

High market $ interest rates for heavily leveraged and drowning–in–debt airlines will be even higher

In recent years, the aviation industry has experienced a significant drop in demand for air travel, resulting in many airlines facing financial losses. To stay afloat during this time, airlines have taken on additional debt. However, this increased debt has resulted in higher risk for lenders, leading to higher market interest rates for the airlines.

In addition to the impact of the pandemic on the industry, other factors such as rising fuel costs and increased competition have also contributed to the financial struggles of many airlines. These factors have made it increasingly challenging for heavily leveraged airlines to generate profits and pay off their debt, leading to concerns about the sustainability of their business models.

The combination of these factors has led to a situation where heavily indebted airlines are now facing even higher market interest rates, which can exacerbate their financial difficulties.

Much higher insurance costs "" worsening war risks could push insurance premiums higher

The aviation industry is grappling with rising insurance costs due to worsening geopolitical risks. This is highly influenced by the fact that, as stated by leading insurance companies, around 500 aircraft leased to Russian operators remain trapped in Russia. Insurers are facing potential liability issues due to the uncertain situation created by the Russian government's refusal to release the aircraft.

As a result, insurers are struggling to assess the level of risk involved, leading to a wide range of potential losses estimated to be up to $30 billion, according to industry sources. This uncertainty is likely to drive up insurance premiums for airlines, impacting the industry as a whole.

Passengers will remember compensations for flight delays, and it will impact airlines' unplanned costs

The EU regulation 261/2004 provides compensation for passengers who experience delays, cancellations, overbooking, or denied boarding. Depending on the specific circumstances and subject to certain conditions, affected passengers may be eligible for a compensation claim ranging from 250 to 600 per person. Before the COVID–19 pandemic, the rate of flight delays in the EU that fell under compensation was 1.5% of all flights, with an average compensation amount of 375 per delayed flight.

In 2019, EU airlines carried a total of 1.12 billion passengers, with 1.7 million flights experiencing delays and resulting in a total compensation pay–out of 6.3 billion. Only 10% of affected passengers currently file complaints directly with the airlines or via specialised service companies, such as Skycop or Airhelp.

However, this number is expected to increase significantly, as after COVID–19 the industry faces capacity shortages and other challenges. As a result, the number of claimable flights that experience delays could increase from 1.5% to 5%, potentially leading to a total compensation pay–out of 20 billion.

LEAP engines challenges will impact more aircraft on the ground and shortage of capacity;

According to our internal research, presently, the aviation industry operates a fleet of 1397 A320neo aircraft with LEAP–1A engines, totalling 3080 engines with an average of 2.2 engines per aircraft, and 1043 Boeing 737 MAX aircraft with LEAP–1B engines, totalling 2338 engines with an average of 2.2 engines per aircraft. To maintain these engines, there are 21 locations globally for LEAP–1A overhaul and maintenance and 22 locations for LEAP–1B engines.

However, the grounding of 16,000 aircraft (equivalent to 60% of the total fleet) in 2020–2021 has led to a staggering 60% postponement of LEAP engine maintenance. Consequently, there is now a significant maintenance gap across 43 locations, resulting in wait times of 9–10 months for engine maintenance, which could potentially disrupt airline operations.

OEM production and supply chain disrupted during 2023–2025 will cause a shortage of aircraft capacity;

The COVID–19 pandemic has had a profound impact on the aerospace industry. Original Equipment Manufacturers (OEMs) such as Boeing and Airbus have experienced significant disruptions in their production and supply chains. In response to the global economic slowdown and reduced demand for air travel, OEMs have cut their production levels by around half compared to pre–COVID levels. However, this has led to a shortage of aircraft capacity, which is hindering the industry's recovery efforts.

The production cuts have affected over 5,000 suppliers in the supply chain, all of whom have had to reduce their volumes during the pandemic. Consequently, the recovery of the aerospace industry is projected to take 2.5–4 years to return to pre–COVID production levels. This prolonged period of disruption is likely to have significant consequences for the industry and its stakeholders.

In 2020–2021, the cancellation of pilot cadet programs and planned retirements caused a pilot shortage in 2023–2024 and a rapid increase in costs for airlines;

The aviation industry faces a constant demand for new pilots, as approximately 3% of pilots retire annually. However, the COVID–19 pandemic has caused a major setback in the industry, with all cadet programs being either postponed or cancelled.

Hence, there is now a significant pilot shortage issue, leading to rapid cost increases. It is estimated that industry will experience a shortage of 300,000 pilots within a decade. This shortage is expected to create significant challenges, particularly in India, which is anticipated to have the largest pilot shortage.

Challenges to book MRO slots after COVID–19, because scheduled maintenance events were postponed

Another issue caused by the COVID–19 pandemic is a significant accumulation of MRO services for aircraft worldwide. As a result of the unprecedented reduction in air travel and the grounding of many aircraft, scheduled maintenance was delayed or deferred.

Nonetheless, as air travel demand begins to recover and airlines return to full operations, the challenge of booking MRO slots to perform necessary maintenance on these aircraft has emerged. Many airlines are finding that MRO facilities are already operating at full capacity, resulting in long wait times and potential disruptions to airline operations. This accumulation of maintenance is expected to persist for some time, creating obstacles to the aviation industry's recovery efforts.

Challenge to find engines maintenance slots for V2500, and RR engines due to deferred maintenance

Airlines that operate aircraft with V2500 and RR engines are also encountering difficulties in scheduling maintenance for their engines due to high demand and limited availability. This has created a challenging situation, particularly for airlines with large fleets of such aircraft.

The lack of available maintenance slots has forced airlines to ground some of their aircraft, leading to operational disruptions and revenue losses. In addition to the financial impact, the situation also poses safety concerns as delayed maintenance can compromise the safety and reliability of the engines, potentially leading to more significant problems in the future.

ESG requirements for greener aviation didn't disappear in the medium term

The International Civil Aviation Organisation's (ICAO) 41st Assembly, held in Montreal in October 2022, marked a significant milestone for the aviation industry's commitment to sustainability. The assembly committed to a Long Term Aspirational Goal (LTAG) to achieve net zero CO2 emissions by 2050, which has brought Environment, Society, and Governance (ESG) issues to the forefront of the sustainable aviation conversation.

The LTAG's ambitious target is challenging, but it has the potential to encourage airlines to accelerate the development and adoption of greener jet fuels and other technical improvements to decarbonise flying. This will require a significant shift in industry–wide mindset, investment in research and development, and collaboration between airlines, manufacturers, and governments to achieve the long–term goal.

After COVID–19, debts for spare parts, MRO services, and aircraft leasing will impact that some aircraft will still be grounded, which will cause capacity demand

The challenging situation in the industry has pushed airlines to take on additional debt to finance various aspects of their operations, such as spare parts, MRO services, and aircraft leasing. However, the increase in outstanding debt for the industry could have significant implications, with some airlines potentially struggling to pay off their debts, which could result in a reduction in capacity as airlines are forced to ground some of their aircraft or cut routes to minimise costs.

Insider data shows that the industry's outstanding debt has jumped over 20% since 2020, reaching more than $300 billion. To raise capital, global air carriers have sold $63 billion in bonds and loans so far this year.

Media contact:
Silvija Jakiene
Chief Communications Officer
Avia Solutions Group
silvija.jakiene@aviasg.com
+370 671 22697


GLOBENEWSWIRE (Distribution ID 1000810732)

ROSEN, LEADING INVESTOR COUNSEL, Encourages Vertex Energy, Inc. Investors with Losses to Secure Counsel Before Important Deadline in Securities Class Action – VTNR

NEW YORK, May 17, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Vertex Energy, Inc. (NASDAQ: VTNR) between April 1, 2022 and August 8, 2022, both dates inclusive (the "Class Period"), of the important June 12, 2023 lead plaintiff deadline.

SO WHAT: If you purchased Vertex Energy 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 Vertex Energy class action, go to https://rosenlegal.com/submit–form/?case_id=12724 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 June 12, 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) prior to the acquisition of the Mobile refinery, defendants had entered into inventory and crack spread hedging derivatives that significantly capped the profit margins on 50% of the Mobile refinery's expected output over the period April 1, 2022 to September 30, 2022, affecting over 6.5 million barrels of refined fuel output; (2) as a result, the hedges severely limited Vertex's ability to capitalize on the record–high crack spreads that existed at the time of the acquisition and resulted in over $90 million in losses in the second quarter of fiscal year 2022; (3) prior to the acquisition of the Mobile refinery, defendants had entered into an inventory intermediation agreement with the investment bank Macquarie Group, whereby Macquarie purchased (from third parties), owned, and sold (to Vertex) all crude oil inventory to be used at the Mobile refinery and also purchased (from Vertex), owned, and sold (to third parties) all refined fuel inventory produced at the Mobile refinery; (4) as a result, the strict terms of the arrangement, including requiring Vertex to purchase hedges to protect Macquarie's position in holding the crude and refined inventory, combined with the fact that the oil market was in a state of backwardation in early 2022, resulted in Vertex incurring significant fees and inventory losses; (5) prior to the acquisition of the Mobile refinery, defendants had entered into an inventory purchase agreement with Shell Oil as part of the Mobile acquisition agreement, which Vertex was forced to pay Shell Oil above–market prices for the additional crude oil inventory because of the state of backwardation in the oil market; (6) immediately following the acquisition of the Mobile refinery, Vertex experienced production issues that caused significant shortfalls in refined fuel volumes; (7) following the acquisition of the Mobile refinery, defendants overstated the purported profit margins that could be achieved at the refinery; and (8) as a result of the above misrepresentations and concealed facts, the Mobile refinery did not "generate[] strong EBITDA" "[d]uring the first 30 days of operations," and the Mobile refinery transition was not "seamless." When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Vertex Energy class action, go to https://rosenlegal.com/submit–form/?case_id=12724 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.

———————————————–

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 8841783)

ROSEN, SKILLED INVESTOR COUNSEL, Encourages Bancor v3 Liquidity Providers to Secure Counsel Before Important Deadline in Securities Class Action Against BProtocol Foundation, Bancor DAO, Galia Benartzi, Guy Benartzi, Eyal Hertzog, and Yehuda Levy

NEW YORK, May 17, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of U.S.–based investors, also called liquidity providers ("LPs"), in Bancor Version 3 ("Bancor v3") between May 11, 2022 and May 11, 2023, inclusive (the "Class Period"). The lawsuit is against BProtocol Foundation, Bancor DAO, Galia Benartzi, Guy Benartzi, Eyal Hertzog, and Yehuda Levy (together, "Defendants"). 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 14, 2023.

SO WHAT: If you invested, or provided liquidity, in Bancor v3 during the Class Period and are a U.S. resident 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 Bancor v3 class action, go to https://rosenlegal.com/submit–form/?case_id=16271 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 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. 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 Defendants violated the federal securities laws and various state laws by offering and selling investment contracts to Bancor v3 liquidity providers, without registering under applicable federal securities laws as an exchange or broker–dealer, and without a registration statement in effect for the securities offered and sold. The lawsuit also alleges that the Defendants concealed and misrepresented material information concerning the risks associated with providing liquidity to Bancor v3.

To join the Bancor v3 class action, go to https://rosenlegal.com/submit–form/?case_id=16271 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.

———————————————–

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 8841687)

Tizeti to tackle broadband underdevelopment in Cote d’Ívoire with Microsoft

ABIDJAN, Cote d'Ívoire, May 17, 2023 (GLOBE NEWSWIRE) — Tizeti, a leading internet service provider in West Africa, announced an expanded collaboration with Microsoft to address the issue of broadband underdevelopment in Cote d'voire and bring internet access to almost 5 million people.

The partnership aims to provide affordable and reliable high–speed internet access to underserved communities and people in the country, addressing the significant broadband gap that has hindered economic development and social progress in the region and empowering more Ivorians to participate in the digital economy.

Cote d'voire is believed to have less than 40% internet penetration, with fixed internet around 2%. The fixed internet and broadband sectors remain underdeveloped in Cote dvoire, due to a legacy of poor international connectivity, which resulted in high wholesale prices, limited bandwidth, and a lack of access for alternative operators to international infrastructure. Operators such as MainOne, and Africa Coast to Europe have subsea infrastructure, with 2Africa expected to land in 2023. While the submarine cable vertical is more competitive, Cote d'voire has limited last–mile providers who pull the internet capacity and distribute it to homes, offices, schools, hospitals, and other public institutions.

Tizeti will roll out high–speed internet infrastructure with Microsoft's Airband Initiative, leveraging Tizeti's low–cost wireless technologies. This will help make it easier and cheaper for people to access the internet and connect to the digital economy. These shared efforts are part of the Microsoft Airband Initiative's commitment to bring internet access to 100 million Africans by the end of 2025, which aligns with Tizeti's goal of connecting more people to the internet in a cost–efficient way.

“We are thrilled to partner with Microsoft to bring reliable and affordable high–speed internet access to underserved communities in Cote d'voire,” said Kendall Ananyi, Chief Executive Officer of Tizeti. “Our mission at Tizeti is to bring affordable and reliable internet to more Africans outside the digital envelope, and this partnership is a significant step forward in achieving that goal. This work with Microsoft continues our joint efforts to deliver world–class internet connectivity to the people of Africa, starting with Nigeria and now Cote d'voire.”

Microsoft's Airband Initiative is focused on advancing digital equity""access to affordable internet, affordable devices, and digital skills""as a platform for empowerment and digital transformation across the world.

"Through our expanded partnership with Tizeti, we are committed to providing high–speed internet access to five million people in Cote d'Ivoire by the end of 2025," said Vickie Robinson, General Manager of Microsoft's Airband Initiative. "Partners such as Tizeti are vital to the Airband ecosystem, which relies on local expertise along with public and private organizations of every size to tailor regional solutions. The expansion to Cote d'Ivoire will help build sustainable infrastructure that strengthens local development and reduces barriers to connectivity.”

For many countries in Africa, there is still a huge digital divide. This boundary between connected and unconnected translates into clear consequences for employment, education, family and social life, and access to information. Collaborations such as this play a significant role in addressing the digital infrastructure deficits in emerging economies, leveraging innovative technology and capabilities, to improve development outcomes for millions of people.

About Tizeti

Tizeti is a fast–growing Wireless Internet service provider in Nigeria, Ghana and Cote d'Ivoire delivering high–speed unlimited Wi–Fi Internet access to residential and business customers using wide–area Wi–Fi.

Contact: Temitope Osunrinde (press@tizeti.com)


GLOBENEWSWIRE (Distribution ID 8840227)

Sweegen's Rebaudioside M receives full authorization for use in the United Kingdom

Rancho Santa Margarita, Calif., May 17, 2023 (GLOBE NEWSWIRE) — Global sweetness and flavor innovator, Sweegen has announced that its Bestevia Rebaudioside M (Reb M) has been fully authorized for use in the United Kingdom (U.K.) This regulatory approval marks a significant milestone for Sweegen, as it becomes the first and only company to receive authorization for any steviol glycosides produced using alternative technologies in the U.K.

Reb M, a high–purity steviol glycoside derived from the stevia plant, is renowned for its clean and sugar–like taste profile. It offers a natural, zero–calorie sweetness solution, making it an ideal choice for food and beverage manufacturers seeking to reduce sugar content and provide healthier options to consumers. Sweegen's nature–based sweeteners, including its Reb M, offer a scalable and cost–effective alternative to traditional sugar.

Brands in the U.K. have eagerly anticipated the authorization of Sweegen's Bestevia Reb M during the initial formulation phase and tastings. They are actively collaborating with Sweegen's food and beverage applications experts based at its EMEA U.K. Innovation Studio in Reading, England, to integrate this highly sought–after stevia ingredient, along with Sweegen's outstanding taste modulation and unique sweeteners, into their formulations.

Damian Bellusci, Vice President of Sales EMEA/APAC at Sweegen, expressed his excitement about the authorization, stating, “We are extremely proud to be the pioneers in securing full authorization for Bestevia Reb M in the U.K. This milestone reaffirms Sweegen's commitment to providing innovative, nature–based, and sustainable sweetening solutions to the industry. Reb M offers food and beverage manufacturers an exceptional tool to meet consumer demands for healthier products without compromising taste."

The decision to authorize the bioconversion manufacturing method for steviol glycosides, including Reb M, was made by the Minister for Primary Care and Public Health in relation to England, the Welsh Ministers in relation to Wales, and the Minister for Public Health, Women's Health and Sport in relation to Scotland. The authorization is per Article 10(1) of retained Regulation 1333/2008, fulfilling the requirements.

The authorized manufacturing method allows for using steviol glycosides, including Reb M, in the Great Britain (GB) market. The Regulations provide updated terms of authorization for using this method in GB, with the terms being similar to those in the European Union (EU) and Northern Ireland. For the latest information, referring to the relevant EU Regulations on the EUR–Lex website is recommended.

Casey McCormick, Vice President of Global Innovation at Sweegen, emphasized the significance of Reb M in driving product innovation. "The approval of Bestevia Reb M in the UK represents a very positive step forward for brands looking to improve the nutrition profile of their products. The clean, sweet taste of our Bestevia Reb M enables new approaches to reduce and eliminate sugar in a way that exceeds consumers' expectations and supports public health objectives to reduce sugar consumption."

Hadi Omrani, Vice President of Technical and Regulatory Affairs at Sweegen, highlighted the rigorous safety and compliance standards behind Bestevia Reb M's authorization. Omrani stated, "At Sweegen, we prioritize safety, quality, and regulatory compliance. Obtaining full authorization for Bestevia Reb M in the U.K. required thorough scientific evaluations and stringent assessments to ensure its safety for consumption. This achievement reflects our commitment to delivering superior products that meet the highest industry standards.”

Sweegen is dedicated to revolutionizing the sweetener market with innovative solutions that promote healthier choices without compromising taste. The full authorization of Bestevia Reb M in the U.K. reinforces Sweegen's leadership in the nature–based sweetener space and positions the company as a trusted partner for food and beverage manufacturers worldwide.

Sweegen recently attained FEMA GRAS status for sweet proteins brazzein and thaumatin II, complementing steviol glycosides in food and beverage production. With the addition of brazzein and thaumatin II, Sweegen continues to expand its portfolio of safe and effective taste–modulating flavors that can help food and beverage manufacturers meet the demand for healthier and delicious products to align with consumers' holistic approaches to wellness. Brazzein is the star ingredient in Sweegen's newly launched Sweetensify flavors for taste modulation, an ideal flavors tool for brands seeking to create sugar–like tastes in food and beverages.

###

About Sweegen

Sweegen provides sweet–taste solutions for food and beverage manufacturers around the world.
We are on a mission to reduce sugar and artificial sweeteners in the global diet. Partnering with customers, we create delicious zero–sugar products that consumers love. With the best modern sweeteners in our portfolio, such as Bestevia Rebs B, D, E, I, M, and N, and sweet proteins brazzein and thaumatin, along with our deep knowledge of flavor modulators and texturants, Sweegen delivers market–leading solutions that customers want, and consumers prefer. Well. Into the Future.

Forward–Looking Statements
This press release includes "forward–looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1996. Sweegen's actual results may differ from the estimates, assumptions, and other illustrative material contained herein, and consequently, a reader should not rely on these forward–looking statements as predictions of future events. These forward–looking statements include, without limitation, illustrative information regarding Sweegen's bottom–up assumed market potential, assumed hit rate, and the resulting revenue based on these model inputs. These forward–looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results.

Industry, Market, and Other Data
In this press release, we rely on and refer to information and statistics regarding market participants in the sectors in which Sweegen competes and other data. We obtained this information and statistics from our own internal estimates and third–party sources, including reports by market research firms and company filings. We do not expressly refer to these sources. All of this information involves a number of assumptions and limitations, and the sources of such information cannot guarantee the accuracy or completeness of such information. The industry in which Sweegen operates is subject to a high degree of uncertainty and risk due to a variety of important factors, any of which could cause results to differ materially from those expressed in the estimates made by Sweegen or third parties.

Cautionary Statement Concerning Forward–Looking Statements
This press release contains forward–looking statements, including, among other statements, statements regarding the future prospects for Reb M stevia leaf sweetener, brazzein, and thaumatin. These statements are based on current expectations but are subject to certain risks and uncertainties, many of which are difficult to predict and beyond Sweegen's control.

Relevant risks and uncertainties could cause actual results to differ materially from those expressed in or implied by the forward–looking statements and, therefore, should be carefully considered. Sweegen assumes no obligation to update any forward–looking statements as a result of new information or future events or developments.

Attachments


GLOBENEWSWIRE (Distribution ID 8841398)

Indian Christians Seek Equal Rights for Dalit Converts

In the original Hindu social structure, Dalits had the lowest social standing, and they continue to be regarded as being so impure in the majority of the states that caste Hindus view their presence as contaminating. For Christian Dalits, the situation is worse because they don’t benefit from any government upliftment schemes. Credit: Umar Manzoor Shah/IPS

By Umar Manzoor Shah
KARNATAKA, May 17 2023 – Renuka Kumari is a 45-year-old Christian woman from the Dalit community in India’s northern state of Uttar Pradesh. She faces numerous challenges every day and hopes for a day when her struggles will end and she can lead a comfortable life.

Her husband, Subhash Kumar, sells the handmade brooms she makes from trees in the open market to earn a living. Living in makeshift hutments, Kumari’s family’s meagre income makes it difficult to make ends meet.

In the original Hindu social structure, the Dalits had the lowest social standing, and they continue to be regarded as being so impure in the majority of the states that caste Hindus view their presence as contaminating. Many Hindus consider their vocations debasing, such as dealing with leather, night soil, and other filthy work, which accounts for their unclean status in society.

Kumari has two children who study in a nearby government school, and she wants them to receive an education and eventually earn a good living. However, Kumari says that society and the government leave her family in dire straits because of their Christian faith. She believes that Dalits who practice other religions receive government grants, health and education benefits, and reservations in government jobs, but as Christians, they are overlooked.

Despite being economically disadvantaged, Kumari’s family does not qualify for government schemes. Her husband, Subhash Kumar, says that they earn no more than 5000 rupees (USD 80) a month and providing their children with a good education is challenging without government support. Dalit Christians are discriminated against and denied benefits solely because of their faith, adding to their struggles.

Background of Discrimination

After India gained independence from British rule in 1947, the government introduced significant initiatives to uplift the lower castes. These initiatives included reserving seats in various legislatures, government jobs, and enrolment in higher education institutions. The reservation system was implemented to address the historic oppression, inequality, and discrimination experienced by these communities and to provide them with representation. The aim was to fulfil the promise of equality enshrined in the country’s constitution.

On August 11, 1950, the President of India issued the Constitution (Scheduled Castes Order, which provided members of Scheduled Castes with various rights as outlined in Article 341(1) of the Indian Constitution. However, the third paragraph of the order stated that “no person who professes a religion different from Hinduism shall be deemed to be a member of a Scheduled Caste”.

In 1956, Dalit Sikhs demanded inclusion in the Constitution (Scheduled Castes) Order, 1950 and were successful in getting listed in the Presidential SC/ST Order, 1950, through an amendment to Para 3 of Article 341. Dalit Buddhists were also included through an amendment to Para 3 of Article 341 in 1990.

Christians and Muslims of Dalit origin now demand that they get social welfare benefits meant to uplift Dalit people. Both communities have been denied these benefits since 1950 because the government says their religions do not follow the ancient Hindu-caste system.

Legal angles

Nearly 14 Christian organisations in India have filed petitions in the country’s Supreme Court requesting reservations in education and employment for the 20 million Dalit Christians, who account for 75 percent of the total Christian population in India. In India, people are segregated into various castes based on birth, and 80% of the population is Hindu. Although parliament outlawed the practice of untouchability in 1955, India’s lower castes, particularly Dalits, continue to face social discrimination and exclusion.

In April this year, the Supreme Court of India requested that the federal government take a stance on granting reservation benefits in government jobs and educational institutions to Christian converts among the Dalits. The court is scheduled to hear the petition and decide on the status of Dalit Christians.

The Indian government had formed a committee to investigate the possibility of granting Scheduled Caste status to those who had converted to other religions but claimed to have belonged to the community historically. This was the second panel set up by the government after it rejected the recommendations of the first commission, which had recommended including them.

According to Tehmina Arora, a prominent Christian activist and advocate in India, it goes against the core secular values of the country to deny rights to individuals solely based on their religious beliefs. Arora emphasised that even if individuals convert to Christianity or Islam, they continue to live in the same communities that treat them as untouchables, and their circumstances do not change. Therefore, she believes people should not be denied the benefits they previously had due to their faith.

God is Our Hope

Renuka Kumari shares that she prays for her children’s success every day, hoping that God will help them excel in life. She laments that their entitlements are denied solely because they chose Christianity as their faith. She finds it ironic that they are denied government grants for this reason, causing them to live miserable lives and struggle every day to provide their children with education and a better future. Kumari’s two children, Virander and Prerna, are currently in the second and seventh grades. Sujata aspires to become a teacher one day and is passionate about mathematics. She dreams of teaching at her school, just like her favourite teacher, and is particularly fond of algebra.

IPS UN Bureau Report

 


!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?’http’:’https’;if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+’://platform.twitter.com/widgets.js’;fjs.parentNode.insertBefore(js,fjs);}}(document, ‘script’, ‘twitter-wjs’);  

Education Must Be Put Front and Centre on the G7 Agenda

By Yasmine Sherif
NEW YORK, May 17 2023 (IPS-Partners)

At this year’s G7 Hiroshima Summit in Japan, world leaders will have a chance to “uphold the international order based on the rule of law and extend outreach to the Global South.” Education, as a binding force that unites us all in our global efforts to protect human rights and ensure sustainable development, should be front and centre on the G7 Agenda.

Through the ground-breaking leadership of Japan, the G7 Summit promises to address a number of interconnected global crises – including nuclear disarmament and non-proliferation, economic resilience and security, climate and energy, food, health and development. By investing in education in emergencies and protracted crises through multilateral organizations such as Education Cannot Wait – the UN global fund for education in emergencies and protracted crises – the G7 has an opportunity to make targeted and responsive investments to these interconnected crises.

During my recent high-level mission to Japan, I was impressed and inspired by the Government of Japan’s growing interest in supporting ECW and our partners in delivering on our four-year strategic plan. In lead up to the G7 Summit, we call on Japan and all G7 global leaders to ensure that funding for education in emergencies is prioritized. There is no greater investment in our shared future.

Education is a key driver in building economic resilience, social cohesion and human security. By investing in an educated, skilled workforce, we are investing in greater economic growth, peace and security today and well into the future. Education for girls is especially critical. Every US$1 spent on girls’ rights and education generates US$2.80 in return. This is equivalent to billions of dollars in additional GDP.

By 2050, as many as 140 million people across South Asia, sub-Saharan Africa and Latin America could be displaced by climate change. By connecting climate action with education action, we have the opportunity to reduce risk, build resilience, and protect our planet from the life-threatening impacts of massive flooding, temperature rises, rising seas and other climate catastrophes.

The war in Ukraine has made the food crisis even more dangerous and painful, especially in places like Africa where recurrent droughts and other climate-related crises are triggering spikes in hunger and displacement. School feeding is essential in responding to famine and achieving our goals for a world without hunger, and good health and well-being for every girl and every boy on the planet. These are their inherent human rights, and this is our international obligation.

In taking a human-centred approach to sustainable development, we must ensure children receive holistic education opportunities, including mental health and psychosocial services, safe and protective learning environments, access to health and hygiene, and other whole-of-child solutions that will nurture the leaders of tomorrow.

By investing in education – especially for the 222 million crisis-affected girls and boys who are left furthest behind in armed conflicts, forced displacement and climate-disasters – the leaders of the G7 have an opportunity to make a mark on history and build a new world order based on universal values and human rights.

 


!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?’http’:’https’;if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+’://platform.twitter.com/widgets.js’;fjs.parentNode.insertBefore(js,fjs);}}(document, ‘script’, ‘twitter-wjs’);  

Excerpt:

ECW Executive Director Yasmine Sherif Statement in advance of the G7 Hiroshima Summit

Global leaders in ocean research to gather in Newfoundland and Labrador

By Greg Hanna
May 17 2023 –  
An impressive list of cutting-edge ocean researchers from across Canada are set to gather at the Ocean Frontier Institute’s (OFI) researchers’ conference.

Held biennially, this year’s conference will take place from May 23-27 in St. John’s, Newfoundland and Labrador.

The conference serves as a platform to showcase advancements in ocean science, share new research data and discoveries, identify gaps and opportunities in our understanding of the ocean, engage with colleagues, and showcase their work to both the scientific community and the wider public.

Researcher collecting samples in the Atlantic

Featured projects include those funded through the 2016 Canada First Research Excellence Fund (CFREF),which is administered by OFI. Over the years, OFI has supported a portfolio of24 large research projects, 127 Seed Fund projects, and seven Opportunities Fund projects – all dedicated to ocean research and training.

This research has provided crucial scientific frameworks for the development of ocean policy and innovation.

Covering a wide range of ocean studies, the research projects undertaken so far have delved into various areas, including ocean observations, sustainable fisheries, environmental protection, governance, data management, and more. A comprehensive overview of these research achievements can be found in the recently released OFI Community Report.

While the Community Report sheds light on the remarkable accomplishments supported by OFI, the gathering in Newfoundland offers an opportunity to delve deeper into the work of these researchers.

Students doing research out in the field

This year, the research conference is being held in conjunction with OFI’s Seed Fund Day, which presents a valuable chance for ocean-related Seed Fund projects to showcase their innovative work and identify new opportunities for collaboration.

For a full conference agenda, visit this webpage.

For details on applying to the Seed Fund, visit this webpage.