PLUG DEADLINE: ROSEN, GLOBAL INVESTOR COUNSEL, Encourages Plug Power Inc. Investors With Losses in Excess of $100K to Secure Counsel Before Important June 12 Deadline in Securities Class Action – PLUG

NEW YORK, June 10, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of common stock of Plug Power Inc. (NASDAQ: PLUG) between August 9, 2022 and March 1, 2023, both dates inclusive (the "Class Period") of the important June 12, 2023 lead plaintiff deadline.

SO WHAT: If you purchased Plug Power common stock 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 Plug Power class action, go to https://rosenlegal.com/submit–form/?case_id=1011 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: The lawsuit alleges that, throughout the Class Period, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts, about Plug's business and operations. Specifically, defendants misrepresented and/or failed to disclose that Plug was unable to effectively manage its supply chain and product manufacturing, resulting in reduced revenues and margins, increased inventory levels, and several large deals being delayed until at least 2023, among other issues. As a result, defendants' statements about Plug Power's business, operations, prospects, and ability to effectively manage its supply chain and production lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Plug Power class action, go to https://rosenlegal.com/submit–form/?case_id=1011 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 8855730)

ROSEN, TOP RANKED GLOBAL COUNSEL, Encourages adidas AG Investors to Secure Counsel Before Important June 27 Deadline in Securities Class Action Filed by the Firm – ADDYY, ADDDF

NEW YORK, June 09, 2023 (GLOBE NEWSWIRE) —

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of adidas AG (OTC: ADDYY, ADDDF) between May 3, 2018 and February 21, 2023, both dates inclusive (the "Class Period"), of the important June 27, 2023 lead plaintiff deadline in the securities class action commenced by the Firm.

SO WHAT: If you purchased adidas 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 adidas class action, go to https://rosenlegal.com/submit–form/?case_id=12204 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 27, 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) in addition to other misconduct, Kanye West (also known as Ye) made anti–Semitic comments in front of adidas staff, and even suggested naming an album after Adolf Hitler; (2) adidas was aware of his behavior, and failed to warn investors that it was aware of that behavior, and had considered ending the Partnership, a business association between adidas and Kanye West, as a result; (3) adidas failed to take meaningful precautionary measures to limit negative financial exposure if the Partnership were to end as a result of Kanye West's behavior; (4) adidas overstated the risk mitigation measures it took with regard to Yeezy shoes in the event that it terminated the Partnership; and (5) as a result, defendants' public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the adidas class action, go to https://rosenlegal.com/submit–form/?case_id=12204 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.

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 8855688)

Caribbean CBI countries rank high once again in 2023 World Citizenship Report: CS Global Partners

London, June 09, 2023 (GLOBE NEWSWIRE) — Caribbean nations with Citizenship by Investment schemes ranked in the top 30 per cent of this year's World Citizenship Report. The Report measures 188 countries across five motivators deemed as most relevant among the mass affluent "" Safety and Security, Economic Opportunity, Quality of Life, Global Mobility and Financial Freedom."

This year, St Kitts and Nevis kept its position of 48th out of the 188 countries while Grenada (49), Antigua & Barbuda (50), the Commonwealth of Dominica (52) and Saint Lucia (53) followed closely behind.

The Caribbean is considered the cradle of investment immigration due to the high concentration of countries that offer CBI programmes in the region.

Caribbean nations are becoming investment hubs in the global arena, offering attractions such as safety, lucrative financial diversification options and idyllic lifestyles that make them desirable places to take up second citizenship. For example, all the Caribbean nations hosting CBI programmes are members of the Caribbean Community (CARICOM) which is committed to promoting and supporting a unified Caribbean community that is inclusive, resilient, and competitive to share in economic, social and cultural growth.

These CARICOM members have also pledged to continue to be vigilant in managing the threats to sustainable development in the region.

This includes implementing initiatives that attract foreign direct investment, ensuring that the region is not perceived as high risk by investors, lobbying against the proposed global minimum corporation tax and continuing to build relations with the OECD (Paris–based Organization for Economic Cooperation and Development) and European Union.

For example, earlier this year, heads of state from all five"Caribbean"nations offering citizenship by investment programmes met with several US government officials to discuss ways to enhance security and due–diligence checks which will minimise any potential risks of the various CBI programmes on offer.

Prime Ministers from"St Kitts and Nevis,"Antigua & Barbuda,"Saint Lucia,"Dominica"and"Grenada"were all in attendance, alongside the heads of each nation's Citizenship by Investment Units (CIU). The meeting, which was led by the Assistant Secretary of the US Department of the Treasury had some positive outcomes and all nations agreed to follow six processing principles which were suggested by the United States, including:

  • The suspension of processing for Russian and Belarussian applicants in all five nations."
  • Introduction of application interviews, either in person or via virtual interview.
  • Non–processing of applications of people who have previously been denied visas in other countries.
  • Conduct regular audits either annually or bi–annually in line with international standards."
  • Introduce additional due–diligence checks to be made through each nation's Financial Intelligence unit.
  • Retrieval by law enforcement of all revoked passports

This year's World Citizenship Report found that high–net–worth individuals (HNWIs) and the mass affluent are in search of greater freedoms, and in preparing for the future, they want to have more control over their freedoms.

This group of HNWIs and mass affluent are securing these freedoms by ensuring that they have a second home through residency and citizenship programmes.

For decades countries like the US, Canada, the UK, and France were attractive destinations for many who wanted to migrate. However, those popular countries are all struggling, both financially with threats of a recession and high inflation, as well as experiencing civil unrest in the form of protests and strikes. The mass affluent and HNWIs have begun to look for alternative destinations as a bolt–hole for future crises, countries that offer the freedoms that are lacking in their home nations.

Caribbean nations have been offering precisely this for decades "" Dominica ranked the safest and most secure Caribbean CBI nation, and all five countries were almost equal in terms of economic opportunity.

Small island nations are ensuring their prosperity and sustainability through CBI programmes which continue to be a viable way for Caribbean nations to attract foreign direct investment into their economies which is then used for significant developmental projects.

Dominica's construction of a geothermal plant, another tangible example of how the nation is moving away from fossil fuels in order to become a greener economy, was made possible by the revenue from CBI.

The nation of St Kitts and Nevis is following suit, also moving away from fossil fuel. St Kitts and Nevis has taken the seriousness of its CBI programme one step further by instituting innovative and industry–first regulation that will not only enhance the programme's international reputation but will also ensure that international investors and citizens alike benefit from a safe, secure, stable and economically prosperous nation.

The inflow of funds to the private sector has had a noticeable impact on the economic activity of island nations, in many instances improving fiscal outcomes, facilitating debt repayment and spurring economic growth.

Caribbean nations continue to be politically and economically stable, with a low crime rate and rich investment opportunities "" therefore solid investment options for those looking to attain freedom.

The World Citizenship Report is published by CS Global Partners, a leading investment migration advisory firm.

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GLOBENEWSWIRE (Distribution ID 8855607)

A 1904 Massacre Could Help Save the Future of Indigenous Peoples in Brazil

Indigenous representatives like Raoni Metuktire, an internationally recognized Kaiapó leader, followed the Supreme Court trial on the temporary framework, inside and outside of the courtroom in Brasilia, in a case that will determine whether the land rights of the indigenous peoples of Brazil have extreme limits established by the constitution. CREDIT: Nelson Jr./SCO-STF-FotosPúblicas

Indigenous representatives like Raoni Metuktire, an internationally recognized Kaiapó leader, followed the Supreme Court trial on the temporary framework, inside and outside of the courtroom in Brasilia, in a case that will determine whether the land rights of the indigenous peoples of Brazil have extreme limits established by the constitution. CREDIT: Nelson Jr./SCO-STF-FotosPúblicas

By Mario Osava
RIO DE JANEIRO, Jun 9 2023 – Children were thrown into the air and stabbed and cut with knives and machetes. The attackers first opened fire on the victims of the massacre before finishing them off with knives so that none of the 244 indigenous people of the village would survive. The 1904 massacre permanently marked the Xokleng people and may play a decisive role in the future of the native peoples of Brazil.

The tragedy is emblematic of the genocide suffered by indigenous people in Brazilian history. There were more numerous and recent killings, especially during the 1964-1985 military dictatorship. But the 1904 massacre is at the center of a trial in the Supreme Court that will determine the progress of the demarcation of indigenous territories in this South American country.

The trial was triggered by a move by the government of the southern state of Santa Catarina. In 2016 the state’s Institute of the Environment (IMA) lay claim to part of the demarcated land of the Xokleng people for a biological reserve.

But in 2019 the Supreme Court recognized that the case had national repercussions, setting a precedent for all demarcations of indigenous lands, because the IMA’s claim cites something that is called the “temporary framework”.

This framework states that native peoples only have the right to the lands that they physically occupied when the current constitution was promulgated on Oct. 5, 1988, creating the present system of demarcation of indigenous reserves.

The trial began in 2021, with the votes of two of the 11 Supreme Court justices, one against and the other in favor of the temporary framework. It was then suspended due to Judge Alexandre de Moraes’ request for more time to analyze the issue. It was not resumed until last month, on May 7, when Moraes issued his vote and argument, before it was suspended again on Jun. 7.

The 1904 massacre was part of his argument against the framework, as an example of the violence used to dispossess indigenous peoples of their land, which showed that it would be “unjust” to demand their physical presence on their traditional lands on any precise date. The Xokleng were “forced to leave their land in order to survive,” the judge argued.

Judge Alexandre de Moraes (C), of Brazil’s Supreme Court, is the shining star of the country’s judiciary. He issued a vote that could be decisive for the future of indigenous peoples’ lands. He also presides over the Electoral Court and is conducting investigations that could sentence former President Jair Bolsonaro to ineligibility for political office or to jail for spreading disinformation and acting against democracy. CREDIT: Alejandro Zambrana/Secom-TSE-FotosPúblicas

Judge Alexandre de Moraes (C), of Brazil’s Supreme Court, is the shining star of the country’s judiciary. He issued a vote that could be decisive for the future of indigenous peoples’ lands. He also presides over the Electoral Court and is conducting investigations that could sentence former President Jair Bolsonaro to ineligibility for political office or to jail for spreading disinformation and acting against democracy. CREDIT: Alejandro Zambrana/Secom-TSE-FotosPúblicas

Violence

The Ibirama-Laklãnõ Indigenous Land, where 2,300 people live today, almost all of them from the Xokleng community along with a few Guarani and Kaingang families, was demarcated in 2003: 37,000 hectares recognized as their territory by the government of Santa Catarina in 1926, according to official documents in possession of the native residents of that land.

But in 1965 the military dictatorship limited their territory to just 14,000 hectares. In addition, 10 years later, it ordered the construction of dams in the Itajaí river basin, which crosses the region, to curb flooding in cities and landed estates downstream.

Consequently, it flooded the Xokleng lands and further reduced the area where the indigenous people live and farm, as well as cutting off their roads, aggravating their isolation. An anthropological study conducted in the 1990s recommended that the territory should be expanded to the previous 37,000 hectares, but this was called into question by the local government and by landowners who had invaded part of the land.

Public attention was drawn to the near extermination of the Xokleng people by a book by anthropologist Silvio Coelho dos Santos, “Indigenous people and whites in southern Brazil: the dramatic experience of the Xokleng” ((Indios e brancos no Sul do Brasil: a dramática experiencia dos xokleng, in Portuguese), which includes a report of the 1904 massacre in the newspaper “Novidades”.

Many similar atrocities have been committed in Brazil. But the fact that this massacre in particular was well-documented and proven undermines the temporary framework, defended by many politicians and landowners and used in their legal arguments and in their attempts to reduce conflicts over land.

But it clearly runs counter to the constitution, according to Marcio Santilli, former chair of the governmental National Foundation for Indigenous Peoples (Funai) and founder of the non-governmental Socio-Environmental Institute.

“The basic unconstitutionality is that the articles (on indigenous people) do not address the temporary framework and recognize indigenous territorial rights as ‘original’. According to the constitution, there is no indigenous person without land,” he told IPS.

Thanks to the constitution’s mandate, 496 indigenous reserves, covering 13 percent of the national territory, have been demarcated so far, without taking into account the temporary framework that is now being cited.

And another 238 reserves are in different phases of the demarcation process. Some have already been identified as indigenous lands, while others are still under study, according to the Socio-Environmental Institute, which has a large database on the subject.

In Brazil, according to the 2022 census, there are 1.65 million indigenous people, an increase of 84 percent compared to the 2010 census, although they represent only 0.8 percent of the national population. In this country there are 305 distinct indigenous peoples who speak 174 languages, according to Funai.

Moraes condemned the temporary framework, but his vote worried indigenous leaders because he proposed “full compensation” to “good faith” landowners currently occupying demarcated areas. Until now, only improvements made on property have been compensated and not the land itself, which is considered to have been usurped.

Indigenous people from the metropolitan region of São Paulo block a highway with bonfires, in protest against the temporary framework, which drastically limits the demarcation of territories of native communities. Legislators are trying to give the measure legal status, while the Supreme Court postponed a ruling on the issue for the second time, on Jun. 7. CREDIT: Rovena Rosa/Agência Brasil

Indigenous people from the metropolitan region of São Paulo block a highway with bonfires, in protest against the temporary framework, which drastically limits the demarcation of territories of native communities. Legislators are trying to give the measure legal status, while the Supreme Court postponed a ruling on the issue for the second time, on Jun. 7. CREDIT: Rovena Rosa/Agência Brasil

Reconciliation rejected

“Moraes wants prior compensation, to pay the landowners first and then demarcate the indigenous land, which can take 10 years. They are looking for a broad compromise to satisfy those who have illegally taken over land,” protested Mauricio Terena, legal coordinator of the Articulation of Indigenous Peoples of Brazil (Apib).

“Why is it always our rights that have to be chipped away at? Our rights are always compromised, we’re always the ones who lose out,” he said while speaking to the indigenous people present in Brasilia to follow the Supreme Court trial.

Nearly 1,500 indigenous people from all over the country camped out in the capital and there were demonstrations against the temporary framework in dozens of cities and towns and along highways in the country, reported Dinamam Tuxá, executive coordinator of Apib.

Moraes also proposed that, in the event of practically insurmountable difficulties, such as the existence of towns in areas recognized as indigenous land, compensation should be offered – in other words, they should be given land in other areas, if accepted by the indigenous community.

“Our territories are non-negotiable,” Terena said. “Our relationship with them runs deep, it is where our ancestors fell.”

His complaint was also due to the new interruption of the trial. Another judge, André Mendonça, a former justice minister in the far-right government of Jair Bolsonaro (2019-2022), asked for more time to study the case. He has up to 90 days to issue his vote, which would reactivate the trial, but he promised to do it sooner.

“They need time. We left here without an answer,” Terena complained. The process has been dragging on for more than seven years and the temporary framework serves as a justification for invasions of land and violence against indigenous people.

In any case, “Moraes’s vote was positive” because it recognized the unconstitutionality of the temporary framework, said Megaron Txucarramãe, chief of the Kaiapó people, who live in the Eastern Amazon region.

“We will return to Brasilia when the trial resumes, we will continue the fight to secure our constitutional rights and the land for our grandchildren,” he told IPS by phone from the indigenous camp in Brasilia.

“We will return to Brasilia to hold demonstrations whenever necessary to defend our lands, the constitution and the rights of our grandchildren,” Chief Megaron Txucarramãe, a well-known leader of the Kayapó indigenous people from the Eastern Amazon region, told IPS from the indigenous camp set up near the Supreme Court. CREDIT: Courtesy of Megaron Txucarramãe

“We will return to Brasilia to hold demonstrations whenever necessary to defend our lands, the constitution and the rights of our grandchildren,” Chief Megaron Txucarramãe, a well-known leader of the Kayapó indigenous people from the Eastern Amazon region, told IPS from the indigenous camp set up near the Supreme Court. CREDIT: Courtesy of Megaron Txucarramãe

Lawmakers against indigenous people

But their battle is not limited to the judicial front. On May 30 the Chamber of Deputies urgently passed a bill that would make the temporary framework law, by a majority of 283 votes against 155. Its final approval now depends on the Senate.

“The processes are moving ahead simultaneously and influence each other,” Oscar Vilhena, director of the Law School at the private Getulio Vargas Foundation, told IPS from São Paulo. “If the Supreme Court declares the temporary framework unconstitutional, the bill loses its purpose, but that would increase the costs for the Supreme Court.”

By costs he was referring to increased political pressure from right-wing and landowner-linked legislators, known as the ruralists, who have long attacked the Supreme Court for allegedly meddling in legislative affairs.

In addition, if the proposed rule is declared unconstitutional, “the Chamber of Deputies could resume deliberations on a constitutional amendment already approved in the Senate,” Santilli warned by telephone from Brasilia.

This bill, which has languished in the lower house since 2015, when it was received from the Senate, would precisely establish the payment of compensation for land ownership, not only for improvements to property, to landowners affected by indigenous territories demarcated since the current constitution went into effect in October 1988.

Hong Kong’s Lights of Freedom Extinguished

Credit: Yan Zhao/AFP via Getty Images

By Andrew Firmin
LONDON, Jun 9 2023 – Nothing was more predictable than repression. Merely for holding candles and flowers, people were taken away by Hong Kong’s police.

The occasion was the anniversary of the Tiananmen Square Massacre, 4 June 1989. Hong Kong was until recently home to mass annual vigils where thousands gathered to keep alive the memory of that day. But that’s all gone now in the crackdown that followed large-scale protests for democracy that erupted in 2019.

Hong Kong’s authorities are evidently determined to erase any form of acknowledgement that the massacre ever happened. Memorials and artworks commemorating it have been removed. Books that mention the tragedy have disappeared from libraries. Shops selling the LED candles commonly used to mark the occasion were visited by the authorities in the run up to this year’s anniversary.

The organisation behind the vigil, the Hong Kong Alliance in Support of Patriotic Movements in China, closed itself down in 2021 following a police investigation. Several of its leaders were jailed in March.

Instead of hosting the usual vigil, this year Hong Kong’s Victoria Park was home to a carnival celebrating Chinese rule. People wanting to mark the occasion had to do so in private.

This is only the tip of the iceberg. People are mourning not only the many who died on 4 June 1989 but also the Hong Kong vanishing before their eyes.

Further than ever away from democracy

When Hong Kong was handed over to China by the UK in 1997, China agreed to maintain the country’s distinct political and economic structures for the next 50 years, under the banner of ‘one country, two systems’.

Hong Kong’s Basic Law guaranteed civic rights, including freedoms of association, peaceful assembly and expression. China committed to move towards universal suffrage for the election of Hong Kong’s Chief Executive, the head of government.

But following the democracy protests that burst out in 2019, China has unilaterally torn up that agreement. Three years ago, the government passed the National Security Law, a sweeping piece of legislation that criminalises criticism of the authorities. It’s been used alongside existing laws, such as the law on sedition, to jail leaders of the democracy movement.

China never made good on its promise of universal suffrage. It’s gone in the opposite direction. Current Chief Executive John Lee – who as security chief led the violent crackdown on democracy protests – was chosen last year by a hand-picked 1,500-member Election Committee, which duly endorsed him as the sole candidate.

The Legislative Council, Hong Kong’s parliament, had already been neutered. The number of directly elected seats has been slashed and people are disqualified from standing if they question China’s sovereignty over Hong Kong.

Now the District Councils are in the firing line. When the last elections for the municipal bodies were held, in the thick of democracy protests in November 2019, pro-democracy parties triumphed.

Such a result is now impossible. In 2021, a law was passed requiring all district councillors to swear an oath of allegiance affirming their ‘patriotism’ for China. Most of the pro-democracy candidates elected in 2019 were disqualified or resigned.

Now when new district councillors are chosen in November, only 20 per cent of seats will be directly elected. The authorities will fill the rest with their supporters, all vetted to ensure their ‘patriotism’. Little wonder that the Civic Party, one of Hong Kong’s leading pro-democracy parties, recently announced it was closing down.

A hollowed-out Hong Kong

Hong Kong was once a country where people felt safe to protest. It had a flourishing media and publishing industry. Now journalists are criminalised and key independent media have shut down.

Civil society organisations and trade unions have done the same. The remaining organisations are scattered, practising self-censorship. Protests continue to be heavily restricted: this year a planned International Women’s Day march was cancelled after police threats.

People continue to try to find ways to express dissent, but any small gesture can attract the state’s ire. The death of Queen Elizabeth II gave people an opportunity to use public mourning to express at with the regression since handover. But when a vigil was held during the Queen’s funeral, a harmonica player was arrested for daring to play the tune Glory to Hong Kong, associated with the democracy protests.

Last year five speech therapists were convicted of producing ‘seditious publications’. Their crime was to produce children’s books in which sheep defend their villages from wolves. This was taken to be an allegory of China’s control of Hong Kong.

Everyday repression is making Hong Kong a hollowed-out country, its population falling. Some schools face closure due to falling student numbers. Many have fled, not wanting their children to grow up in a country where education is indoctrination. The curriculum has been reworked to teach students loyalty rather than independent thought. Many teachers are leaving the country or taking early retirement.

With the legal system facing increasing interference and political pressure, lawyers are also among those fleeing.

A key test will be the trial of Jimmy Lai, former media owner and democracy campaigner. He’s already been found guilty on numerous counts. His newspaper, Apple Daily, once Hong Kong’s most widely read pro-democracy paper, shut down in 2021. He faces trial under the National Security Law, which could mean a life sentence.

The judges who will try Lai have been handpicked by John Lee. Meanwhile the authorities have tried to prevent Lai’s defence lawyer, UK barrister Tim Owen, representing him in court. In March they passed a law giving Lee the power to ban foreign lawyers working on national security cases. It isn’t looking promising.

Lai is one of Hong Kong’s 1,508 political prisoners. Even as the population shrinks, the imprisoned population just keeps getting bigger. The candles that commemorate the Tiananmen Square Massacre and the yearning for democracy will continue to flare around the world in exile – but those lights are being extinguished in Hong Kong.

Andrew Firmin is CIVICUS Editor-in-Chief, co-director and writer for CIVICUS Lens and co-author of the State of Civil Society Report.

 


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It’s Time to Ban Cigarette Filters

Credit: WHO

By Mary Assunta
BANGKOK, Thailand, Jun 9 2023 – The second session of the Intergovernmental Negotiating Committee on plastic pollution (INC-2), held in Paris, France, from May 29 to June 02, 2023, concluded with optimism and the prospect of ending plastics pollution. Over 700 delegates from 169 Member States agreed to prepare a zero draft of agreement ahead of the third session in November this year.

Among the more important and interesting debates, health advocates attending the negotiations reported that it was essential to discuss “how to categorize the thousands of types of plastics, chemical precursors and products in a way that allows for a coherent approach to ending plastic pollution.

Some favoured focusing on the chemical precursors, eliminating the most toxic and polluting ones,” while others acknowledged that not every type of plastic could be recycled or reinvented, and certain plastics like cigarette filters need to disappear for good.

Leonce Sessou, speaking on behalf of Action on Smoking and Health (ASH), Corporate Accountability (CA), African Tobacco Control Alliance (ATCA), and other members of the Stop Tobacco Pollution Alliance (STPA), urged Member States to align the future legally binding instrument on plastics with the public health objective of ending the tobacco epidemic, to which most have already committed via the WHO Framework Convention on Tobacco Control (FCTC).

Tobacco control groups, for example, called for the elimination of cigarette filters. They drew attention to the fact that cigarette butts are some of the most prevalent forms of plastic pollution on the planet and harm land and marine ecosystems.

They reminded delegates to align with human rights and health treaties, particularly the WHO FCTC, and make the tobacco industry pay for its pollution and legacy waste. The WHO FCTC health treaty seeks to reduce the supply and demand for tobacco and protect health policies by keeping the tobacco industry out of policy meetings.

According to a WHO report which called for a ban on cigarette filters, about 4.5 trillion discarded filters (butts) from the almost six trillion cigarettes consumed globally find their way into the environment annually.

They are the top waste item collected from coastlines and urban settings. Cigarette filters are small enough to be ingested by marine animals, and when these plastic filters break down, they release thousands of microplastic particles.

Microplastics have been detected in commercial seafood, other food items, drinking water, and human tissue; this contamination is a threat to food safety and security.

Research shows cigarette butts are a source of microplastic contamination that creates chemical pollution (due to the toxic chemicals found in tobacco products) that leach into the environment. Cigarette butt leachates are found to harm various forms of aquatic organisms, including key food sources for fish and shellfish.

Experts agree that banning cigarette filters is the best solution to this plastic and toxic waste problem. Clean-ups, anti-littering legislation, and redesigning filters for recyclability or biodegradability have not worked and are not viable solutions.

Government committees from Belgium, the Netherlands, and Denmark have recently called for a ban on filters and recommended the same for the rest of the European Union Member States.

For at least five decades, the tobacco industry has known that cigarette filters provide no health benefits; instead, they make cigarettes burn hotter, deliver more nicotine, and increase addiction.

Yet they have misled smokers into thinking filters make cigarettes “safer.” As awareness around smoking increased, the tobacco industry made advertisements for filtered cigarettes more appealing to pacify smokers’ concerns.

Advocates participating in the INC-2 reported a lot of misunderstandings related to cigarette filters that are yet to be addressed. In its blog on day 5 of the negotiations, ASH stated, “Many people, not just people who smoke, assume filters make cigarettes safer rather than more dangerous.”

Numerous countries already have a national policy banning single-use plastics such as plastic bags, straws, and cotton buds but have inadvertently not included cigarette filters. However, advocates speaking to government delegates found widespread support for a ban on cigarette filters.

As the possibility of a cigarette filter ban gathers momentum, the tobacco industry’s public relations (PR) machinery is already in motion implementing beach cleans-ups and cigarette butt collection activities through its corporate social responsibility (CSR) programs across the globe.

Before the third session of the Intergovernmental Negotiating Committee on plastic pollution (INC-3) resumes in Nairobi in November, governments must remember that the tobacco industry is not a stakeholder but a polluter that must be held liable for the myriad harms it has caused as well as continues to cause to human health and the environment.

Over 100 non-governmental health organizations of the STPA, along with other environmental groups such as Global Alliance for Incinerator Alternatives, Ecowaste Coalition, Break Free From Plastic (BFFP), Ban Toxics (Philippines), Our Sea of East Asia Network (OSEAN), Development Indian Ocean Network, Earthday.org (Earth Day Network), Green Africa Youth Organization, Vietnam Zero Waste Alliance, and Boomerang Alliance have called for the elimination of cigarette filters.

Mary Assunta is Senior Policy Advisor, Southeast Asia Tobacco Control Alliance (SEATCA)

IPS UN Bureau

 


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When the President of the General Assembly was Elected on the Toss of a Coin…

Voting by secret ballot in a bygone era. Credit: United Nations

By Thalif Deen
UNITED NATIONS, Jun 9 2023 – When the General Assembly elected its President for 2023-2024 last week, it continued a longstanding tradition of male dominance in the UN’s highest policy making body.

The new President for the 78th session, Ambassador Dennis Francis of Trinidad and Tobago, a longstanding career diplomat and a former Permanent Representative, was elected June 1 “by acclamation”.

While all nine secretaries-general* (UNSGs) have been men, there have been only four women out of 78 who were elected as presidents of the General Assembly (PGAs): Vijaya Lakshmi Pandit from India (1953), Angie Brooks from Liberia (1969), Sheikha Haya Rashed Al-Khalifa from Bahrain (2006) and Maria Fernando Espinosa Garces from Ecuador (2018).

But the blame for these anomalies has to be shouldered by the UN’s 193 member states who are quick to adopt scores of resolutions on gender empowerment but fail to practice them in the highest echelons of the UN totem pole—described as a classic case of political hypocrisy—as they rarely, if ever, nominate women candidates for the presidency.

Meanwhile, as a long-practiced tradition, “elections” to some of the highest UN offices and committees are no longer voted by member states, as it was done in a distant past.

The age of competitive elections has largely come to an end—and it’s the “gentleman’s agreement” that matters (but where in the world are the ladies?)

At the request of member states, electoral assistance is currently provided – for presidential and legislative elections mostly in developing countries — by the UN’s Electoral Assistance Division of the Department of Political and Peacebuilding Affairs (DPPA). Credit: United Nations

Lou Charbonneau, UN Director of Human Rights Watch says UN votes for seats on important bodies like the Security Council and Human Rights Council often make a mockery of the word “election.” They typically have little or no competition, ensuring victory for even the least-qualified candidates.

https://www.hrw.org/news/2023/05/18/praise-competitive-un-elections

Under an unwritten rule, the five “regional groups” at the UN take turns – on the basis of geographical rotation— and decide what offices they should claim undermining the very concept of democratic elections.

The five regional groups include the African Group; the Asia and the Pacific Group; the Eastern European Group (even though Eastern Europe has long ceased to exist after the end pf the Cold War and the dismantling of the Soviet Union); the Latin American and Caribbean Group (GRULAC); and the Western European and Others Group (WEOG)

https://www.un.org/dgacm/en/content/regional-groups#

And all these decisions are taken behind closed doors, with rare instances of member states breaking this rule – or unceremoniously jumping in, to claim a post which could result in an election by ballot, not by acclamation.

Meanwhile, there was at least one instance in recorded history when the president of the General Assembly was elected, on the luck of a draw -– following a dead heat.

With the Asian group failing to field a single candidate, the politically-memorable battle took place ahead of the 36th session of the General Assembly back in 1981 when three Asian candidates contested the presidency: Ismat Kittani of Iraq, Tommy Koh of Singapore and Kwaja Mohammed Kaiser of Bangladesh (described as the “battle of three Ks”—Kittani, Koh and Kaiser).

On the first ballot, Kittani got 64 votes; Kaiser, 46; and Koh, 40. Still, Kittani was short of a required majority — of the total number of members voting. On a second ballot, Kittani and Kaiser tied with 73 votes each (with 146 members present, and voting).

In order to break the tie, the outgoing General Assembly President – Rudiger von Wechmar of Germany– drew lots, as specified in Article 21 relating to the procedures in the election of the president (and as recorded in the Repertory of Practice of the General Assembly).

And the luck of the draw, based purely on chance, favored Kittani, in that unprecedented General Assembly election.

But according to a joke circulating at that time, it was rumored that the winner was decided by the flip of a coin — but the tossed coin apparently had two heads and no tail.

Samir Sanbar, a former UN assistant secretary-general and head of the Department of Public Information (DPI), told IPS the 1981 election brought back memories of his early years at the U.N. “when Ismat Kittani, in varied positions at the UN, was always proud of his Iraqi Kurdish heritage”.

He served as Chef de Cabinet of Secretary-General Kurt Waldheim, Iraq Representative to the U.N., Director-General of Iraq Ministry of Foreign Affairs and candidate for GA President, said Sanbar, who served under five different secretaries-general during his professional career at the UN.

“When we visited Baghdad with the Secretary General, he was part of the U.N. team; Saddam Hussein, then Iraqi Deputy President requested he return home. And he did”.

“Yet his loving and beloved wife refused to go, agreeing to reside in Geneva. The tale of a coin with two heads and no tail is a reflection of Kittani’s vibrant sense of humor. And may his soul rest in peace”, said Sanbar, author of “Inside the United Nations: In a Leaderless World

Going down memory lane, Ambassador Anwarul K. Chowdhury, who was a member of the Bangladesh Mission to the UN back in 1980, told IPS: “Coincidentally, I was in Paris on the day of the election attending, as part of the Bangladesh delegation, the first UN Conference on Least Developed Countries (LDCs) hosted by the French Government.”

Bangladesh was so confident of winning that Ambassador Kaiser’s election team had arranged for bottles of champagne for the victory celebration.

“Delegates comforted us by saying that Bangladesh did not lose face as the vote ended in a tie. So, it was a bad luck for Ambassador Kaiser, not a defeat. Losing by vote would have been worse and a clear verdict against his candidacy,” he added.

Setting the record straight, Ambassador Chowdhury said there was a fourth “K” who was also a candidate in that election– Abdul Halim Khaddam, Deputy Prime Minister and Foreign Minister of Syria.

So, there were really four “Ks” – Kaiser, Kittani, Koh and Khaddam, not 3 “Ks”—reflecting the multiplicity of candidates.

According to the Rules Procedure, the two candidates getting the highest votes in the first ballot were eligible for a second and subsequent ballots till the winner emerged. So, Koh and Khaddam were dropped from the second ballot.

That ballot produced the tie between Kaiser and Kittani, said Ambassador Chowdhury,
the first UN Under-Secretary-General from Bangladesh and High Representative of the UN.

Meanwhile, in the 1960s and 70s, when UN member states competed either for the presidency of the General Assembly, membership in the Security Council, or for various UN bodies, the voting was largely undermined by offers of luxury cruises in Europe—and with promises of increased economic aid to the world’s poorer nations tied to votes at the UN.

In a bygone era, voting was by a rare show of hands, particularly in committee rooms. But in later years, a more sophisticated electronic board, high up in the General Assembly Hall, tallied the votes or in the case of elections to the Security Council or the International Court of Justice, the voting was by secret ballot.

In one of the hard-fought elections many moons ago, there were rumors that an oil-soaked Middle Eastern country was doling out high-end, Swiss-made wrist watches and also stocks in the former Arabian-American Oil Company (ARAMCO), one of the world’s largest oil companies, to UN diplomats as a trade-off for their votes.

So, when hands, both from right-handed and left-handed delegates, went up at voting time in the Committee room, the largest number of hands raised in favor of the oil-blessed candidate sported Swiss watches.

As anecdotes go, it symbolized the corruption that prevailed in voting in inter-governmental organizations, including the United Nations — perhaps much like most national elections in authoritarian regimes.

Just ahead of an election for membership in the Security Council, one Western European country offered free Mediterranean luxury cruises in return for votes while another country dished out — openly in the General Assembly hall— boxes of gift-wrapped expensive Swiss chocolates.

So, it wasn’t surprising that the Ambassador of a middle-income developing country, who kept losing successive elections, jokingly told his Foreign Ministry officials: “Let’s stop running for elections until we can practice the fine art of stuffing ballot boxes — as we do back home.”

Fathulla Jameel, a former UN Ambassador and later Foreign Minister of the Maldives, recounted a story of how his resource-poor island nation, categorized by the UN as a Small Island Developing State (SID), would appeal to some of the richer nations to help fund the country’s infrastructure projects.

At least one rich Asian country, a traditional donor, was the first to respond – and magnanimously too, he said. The project would be fully funded —free, gratis and for nothing.

But there was a catch: “If there is a vote at the UN, and it is not of any national interest to your country”, said the donor country’s foreign ministry, “we would like to get your vote.”

The offer was a clever political payback. Development aid with no visible strings attached.

Footnote: *The nine all-male Secretaries-General over the last 78 years include Trygve Lie from Norway, 1946-1952; Dag Hammarskjöld from Sweden, 1953-1961; U Thant from Burma (now Myanmar), 1961-1971; Kurt Waldheim from Austria, 1972-1981; Javier Perez de Cuellar from Peru, 1982-1991; Boutros Boutros-Ghali, from Egypt, 1992-1996; Kofi A. Annan, from Ghana, 1997-2006; Ban Ki-moon, from the Republic of Korea, 2007-2016 and António Guterres, from Portugal, 2017-present.

This article contains excerpts from a recently-released book on the United Nations—largely a collection of political anecdotes. Titled “No Comment – and Don’t Quote Me on That,” the book is available on Amazon. The link to Amazon via the author’s website follows: https://www.rodericgrigson.com/no-comment-by-thalif-deen/

IPS UN Bureau Report

 


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ROSEN, GLOBAL INVESTOR COUNSEL, Encourages Wheels Up Experience Inc. Investors to Secure Counsel Before Important June 20 Deadline in Securities Class Action Filed by the Firm – UP

NEW YORK, June 08, 2023 (GLOBE NEWSWIRE) —

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Wheels Up Experience Inc. (NYSE: UP) between November 9, 2022 and March 31, 2023, both dates inclusive (the "Class Period"), of the important June 20, 2023 lead plaintiff deadline in the securities class action commenced by the Firm.

SO WHAT: If you purchased Wheels Up 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 Wheels Up class action, go to https://rosenlegal.com/submit–form/?case_id=14081 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 20, 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) Wheels Up failed to address any material weaknesses with internal controls; (2) Wheels Up's financial statements from September 30, 2022 to the present included "certain errors" such as understating net loss and overstating goodwill; (3) as a result, Wheels Up would need to restate its previously filed financial statements for certain periods; 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 Wheels Up class action, go to https://rosenlegal.com/submit–form/?case_id=14081 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 8855299)

ROSEN, A GLOBAL AND LEADING FIRM, Encourages Virtu Financial, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action – VIRT

NEW YORK, June 08, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Virtu Financial, Inc., (NASDAQ: VIRT) between March 1, 2019 and April 28, 2023, both dates inclusive (the "Class Period") of the important July 18, 2023 lead plaintiff deadline.

SO WHAT: If you purchased Virtu 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 Virtu class action, go to https://rosenlegal.com/submit–form/?case_id=16420 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 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) Virtu maintained deficient policies and procedures with respect to its information access barriers; (2) accordingly, Virtu had overstated the Company's operational and technological efficacy as well as its capacity to block the exchange of confidential information between departments or individuals within the Company; (3) the foregoing deficiencies increased the likelihood that Virtu would be subject to enhanced regulatory scrutiny; and (4) as a result, defendants' public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Virtu class action, go to https://rosenlegal.com/submit–form/?case_id=16420 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 8855262)

ROSEN, GLOBAL INVESTOR COUNSEL, Encourages Stem, Inc. f/k/a Star Peak Energy Transition Corp. Investors with Losses to Secure Counsel Before Important Deadline in Securities Class Action – STEM, STEM.WT, STPK.U

NEW YORK, June 09, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers and acquirers of the securities of Stem, Inc. f/k/a Star Peak Energy Transition Corp. (NYSE: STEM, STEM.WT, STPK.U): (i) pursuant and/or traceable to the offering documents issued in connection with the merger ("Merger") consummated on April 28, 2021 by and among the Company, STPK Merger Sup Corp. ("Merger Sub"), and Stem, Inc., ("Legacy Stem"); and/or (ii) between March 4, 2021 and February 16, 2023, both dates inclusive (the "Class Period"), of the important July 11, 2023 lead plaintiff deadline.

SO WHAT: If you purchased Stem 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 Stem class action, go to https://rosenlegal.com/submit–form/?case_id=16161 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 11, 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: Throughout the Class Period, defendants made materially false and misleading statements regarding the Company's business, operations, and compliance policies. Specifically, the offering documents and defendants made false and/or misleading statements and/or failed to disclose that: (1) Legacy Stem suffered from material weaknesses in internal control over financial reporting related to accounting for deferred cost of goods sold and inventory, certain revenue recognition calculations, and internal–use capitalized software calculations; (2) the Company had overstated Legacy Stem's and its own post–Merger business and financial prospects; (3) Stem's software revenue did not make up 100% of the Company's services revenue; (4) Stem had overstated the benefits expected to flow from its AP partnership; and (5) as a result, the offering documents and defendants' public statements throughout the Class Period were materially false and/or misleading and failed to state information required to be stated therein. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Stem class action, go to https://rosenlegal.com/submit–form/?case_id=16161 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 8855242)