Month: October 2021

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ROSEN, GLOBAL INVESTOR COUNSEL, Encourages Tencent Music Entertainment Group Investors with Losses in Excess of $100K to Secure Counsel Before Important Deadline in Securities Class Action – TME

NEW YORK, Oct. 29, 2021 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of Tencent Music Entertainment Group (NYSE: TME) between March 22, 2021 and March 29, 2021, inclusive (the “Class Period”). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 27, 2021.

SO WHAT: If you purchased Tencent Music 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 Tencent Music class action, go to http://www.rosenlegal.com/cases-register-2187.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 27, 2021. 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, Goldman Sachs Group Inc. and Morgan Stanley sold a large amount of Tencent Music American Depository Shares (ADSs) during the Class Period while in possession of material non-public information about Archegos Capital Management (at the time a family office with $10 billion under management) and its need to fully liquidate its position in Tencent Music because of margin call pressure. As a result of these sales, the defendants in the case, Goldman Sachs and Morgan Stanley, avoided billions in losses combined.

To join the Tencent Music class action, go to http://www.rosenlegal.com/cases-register-2187.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

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Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

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ROSEN, A GLOBALLY RECOGNIZED FIRM, Encourages Gaotu Techedu Inc. f/k/a GSX Techedu Inc. Investors with Losses Over $100K to Secure Counsel Before Important Deadline in Securities Class Action – GOTU, GSX

NEW YORK, Oct. 29, 2021 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of Gaotu Techedu Inc. f/k/a GSX Techedu Inc. (NYSE: GOTU, GSX) between March 22, 2021 and March 29, 2021, inclusive (the “Class Period”). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 20, 2021.

SO WHAT: If you purchased Gaotu 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 Gaotu class action, go to http://www.rosenlegal.com/cases-register-2182.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 20, 2021. 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, Goldman Sachs Group Inc. and Morgan Stanley sold a large amount of Gaotu American Depository Shares (ADSs) during the Class Period while in possession of material non-public information about Archegos Capital Management (at the time a family office with $10 billion under management) and its need to fully liquidate its position in Gaotu because of margin call pressure. As a result of these sales, the defendants in the case, Goldman Sachs and Morgan Stanley, avoided billions in losses combined.

To join the Gaotu class action, go to http://www.rosenlegal.com/cases-register-2182.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

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

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ROSEN, TOP RANKED GLOBAL INVESTOR COUNSEL, Encourages Höegh LNG Partners LP Investors with Losses in Excess of $100K to Secure Counsel Before Important Deadline in Securities Class Action Commenced by the Firm – HMLP

NEW YORK, Oct. 29, 2021 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, announces it has filed a class action lawsuit on behalf of purchasers of the securities of Höegh LNG Partners LP (NYSE: HMLP) between August 22, 2019 and July 27, 2021, inclusive (the “Class Period”). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 27, 2021.

SO WHAT: If you purchased Höegh 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 Höegh class action, go to http://www.rosenlegal.com/cases-register-2140.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 27, 2021. 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, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose: (1) Höegh LNG Partners LP (the “Partnership”) was facing issues with the PGN FSRU Lampung charter; (2) as a result, the PGN FSRU Lampung charterer would state that it would commence arbitration to declare the charter null and void, and/or to terminate the charter, and/or seek damages; (3) the Partnership would need to find alternative refinancing for its PGN FSRU Lampung credit facility; (4) the PGN FSRU Lampung credit facility matured in September 2021, not October 2021 as previously stated; (5) the Partnership would be forced to accept less favorable refinancing terms with regards to the PGN FSRU Lampung credit facility; (6) Höegh LNG would not extend the revolving credit line to the Partnership past its maturation date; (7) Höegh LNG would reveal that it “will have very limited capacity to extend any additional advances to the Partnership beyond what is currently drawn under the facility”; (8) as a result of the foregoing, the Partnership would essentially end distributions to common units holders; (9) the COVID-19 pandemic was not the sole or root cause of the Partnership’s issues in Indonesia, in 2019, before the pandemic, there were already a very low amount of demand in Indonesia for the Partnership’s gas; (10) the auditing, tax, nor maintenance of PGN FSRU Lampung were not the sole or root cause(s) of the Partnership’s issues in Indonesia; and (11) 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 Höegh class action, go to http://www.rosenlegal.com/cases-register-2140.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

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

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ROSEN, A GLOBAL AND LEADING LAW FIRM, Encourages TMC the metals company Inc. f/k/a Sustainable Opportunities Acquisition Corp. Investors with Losses to Secure Counsel Before Important Deadline in Securities Class Action Commenced by the Firm – TMC, TMCWW, SOAC, SOAC.U, SOACWS

NEW YORK, Oct. 29, 2021 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, announces it has filed a class action lawsuit on behalf of purchasers of the securities of TMC the metals company Inc. f/k/a Sustainable Opportunities Acquisition Corp. (NASDAQ: TMC, TMCWW) (NYSE: SOAC, SOAC.U, SOACWS) between March 4, 2021 and October 5, 2021, inclusive (the “Class Period”). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 27, 2021.

SO WHAT: If you purchased TMC 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 TMC class action, go to http://www.rosenlegal.com/cases-register-2173.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 27, 2021. 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, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the Company had significantly overpaid to acquire Tonga Offshore Mining Limited (“TOML”) to undisclosed insiders; (2) the Company had artificially inflated its Nauru Ocean Resources Inc. (“NORI”) exploration expenditures to give investors a false scale of its operations; (3) the Company’s purported 100% interest in NORI was questionable given prior disclosures to the International Seabed Authority (“ISA” or the “Authority”) that NORI was wholly owned by two Nauruan foundations and that all future income from NORI would be used in Nauru; (4) defendants had significantly downplayed the environmental risks of deep-sea mining polymetallic nodules and failed to adequately warn investors of the regulatory risks faced by the Company’s environmentally risky exploitation plans; (5) the Company’s private investment in public equity (“PIPE”) financing was not fully committed and, therefore, the Company would not have the cash necessary for large sale commercial production; (6) as a result of the foregoing, the Company’s valuation was significantly less than defendants disclosed to investors; and (7) 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 TMC class action, go to http://www.rosenlegal.com/cases-register-2173.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

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

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Shanghai Electric Announces New Metro Train Turnback Time Record Achieved Using THALES SEC Transport’s TSTCBTC®2.0 Signaling System

SHANGHAI, Oct. 29, 2021 /PRNewswire/ — Shanghai Electric (the “Company”) (SEHK: 02727, SSE: 601727) announced that the record for the turnback time of metro trains has been smashed by the TSTCBTC®2.0 signaling system in a live demonstration carried out by THALES SEC Transport (TST), Shanghai Electric’s joint venture with Thales. The new record in a verified test was 86 seconds, 26 seconds shorter than the average turnback time of trains operating on Shanghai Metro Line 5.

“Though 26 looks like a simple number, it represents a huge technological innovation in urban rail transit. The shorter turnback time allows higher frequency of train services, shorter headway, as well as increased stability and safety, making the overall metro system more energy efficient. It not only fulfills the need to increase the operational capacity of urban rail systems fueled by ever-growing passenger volumes but also marks a milestone of TST’s innovation in CBTC signaling,” said Liu Huiming, CTO of TST.

A solution tailored to the needs of Chinese markets and users, the TST-developed TSTCBTC®20 is a disruption-free mobile blocking system with high operational efficiency and low cost. It can drastically boost the departure density of metro trains and help them operate at the highest speed, bringing the efficiency of metro lines to a maximum level.

(PRNewsfoto/Shanghai Electric)

As the first signaling system featuring a dual CBTC (Communication Based Train Control) architecture with full redundancy ever deployed in China, TSTCBTC®2.0 inherits the key advantages of the SelTrac™ CBTC signal system, including true moving block, two-way ATP/ATO and the ability to provide flexible operational support, while the high availability and reliability of its unique dual CBTC architecture greatly reduces life cycle costs and facilitates maintenance.

On top of applying the highest safety standards, TSTCBTC®2.0 eliminates the need for a traditional backup system, therefore, removing the potential safety risks posed by the switchover between the different systems. Certified by Bureau Veritas and TÜV SÜD and China Railway Construction Corporation (CRCC), the system has also received the China Urban Rail Certification, making it the first certified CBTC product in China.

The high stability and efficiency of TSTCBTC®2.0 have been tested and proven in the operation of Shanghai Metro Line 5. Since it was commissioned as a new signalling system for the metro line in 2018, it has helped the trains of Shanghai Metro Line 5 achieve Grade-of-Automation 3 (GoA3) with zero operational interruption.

Liu Huiming said in the demonstration that the new record means that the CBTC signal system and the “resource-centric” RET technology have become two crucial breakthrough points when it comes to upgrading and transforming transportation capacity.

Building upon the groundbreaking achievements in the development of urban rail transport, Shanghai Electric will continue to make audacious moves to explore the applications of smart trains as well as the next-gen “resource-centric” signal system in an effort to boost the safety and efficiency of urban rail transit. Shanghai Electric is committed to becoming a pioneer in China’s urban rail CBTC signal system, providing world-leading solutions to improve urban mobility.

About Shanghai Electric

Shanghai Electric Group Company Limited (SEHK: 2727, SSE: 601727) is principally engaged in the design, manufacture and sale of power equipment and industrial equipment. It focuses on new energy business, including the manufacture and sale of wind turbines and components as well as nuclear power equipment; clean energy business, including the manufacture and sale of thermal power equipment, power transmission and distribution equipment; industrial equipment, including the production and sale of elevators and electric motors; and modern service industry, including the contracting of construction of power generation plants, power transmission and distribution projects as well as other businesses.

Photo – https://mma.prnewswire.com/media/1673791/image_1.jpg
Logo – https://mma.prnewswire.com/media/1629353/Logo.jpg

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Hikvision reports Q3 2021 financial results

HANGZHOU, China, Oct. 29, 2021 /PRNewswire/ — Hikvision, an IoT solution provider with video as its core competency, has reported its financial results for the third quarter of 2021. During the quarter, Hikvision gained RMB 21.73 billion revenue with a year-over-year (YoY) increase of 22.41%. Net profits attributable to shareholders of the listed company in the third quarter were RMB 4.48 billion, reflecting a YoY growth of 17.54%.

Hikvision reports Q3 2021 financial results

From Q1 to Q3 2021, Hikvision accumulated a total revenue of RMB 55.63 billion with a YoY growth of 32.38%, and the accumulated net profits attributable to shareholders was RMB 10.97 billion, representing a YoY growth of 29.94%.

Amid continued external uncertainties, Hikvision will remain focused on creating value for customers with diversified products and solutions. The company will also continue building customer-oriented service operations, and fully leveraging flexible manufacturing capabilities to maintain steady development of the company.

For the full Q3 2021 financial report, please click here.

About Hikvision

Hikvision is an IoT solution provider with video as its core competency. Featuring an extensive and highly skilled R&D workforce, Hikvision manufactures a full suite of comprehensive products and solutions for a broad range of vertical markets. In addition to the security industry, Hikvision extends its reach to smart home tech, industrial automation, and automotive electronics industries to achieve its long-term vision. Hikvision products also provide powerful business intelligence for end users, which can enable more efficient operations and greater commercial success. Committed to the utmost quality and safety of its products, Hikvision encourages partners to take advantage of the many cybersecurity resources Hikvision offers, including the Hikvision Cybersecurity Center. For more information, please visit us at www.hikvision.com.

Photo – https://mma.prnewswire.com/media/1673789/Hikvision_reports_Q3_2021_financial_results.jpg