Month: January 2022

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Urgent.. The Prime Minister issues decision banning citizens and foreigners from entering all public and private institutions, including major markets, without presenting the Covid vaccination card

Urgent.. The Prime Minister issues decision banning citizens and foreigners from entering all public and private institutions, including major markets, without presenting the Covid vaccination card, with compliance with precautionary measures.

Urgent….The Prime Minister issues a decision banning citizens and foreigners from entering all public and private institutions and entities, including major markets, without presenting the Coronavirus vaccination card, with an emphasis on complying with precautionary measures.

Source: Libyan News Agency

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Prime Minister announces launch of the third ring road project in Tripoli.

Tripoli, The Head of the Government of National Unity, Abdul Hamid Al Dbeiba, on Monday authorized a coalition of elite Egyptian companies to resume work on the third ring road project in Tripoli, which has been stalled since 2008.

A big event was held on this occasion, which was attended by the President of the Presidential Council Mohamed Al Mnefi, ministers, government officials, the Governor of the Central Bank of Libya, the Vice-President of the Supreme Council of the State, a number of council members and the heads of the companies executing the project. In announcing the launch of the project, the Prime Minister thanked the coalition of Egyptian companies executing the project, calling for the contribution of Libyan private and public companies to this project, the employment of Libyan youth and reliance on accompanying services.

The heads of Egyptian companies executing the project gave a brief overview of the history of their companies, stressing that the project will be up to international standards, and in accordance with the highest specifications in this field.

Adel Abdel Mohsen, a representative of the Coalition of Egyptian Companies, said that within two weeks they will adopt the full timetable for the execution of the road projects in Libya, stressing that the duration of the execution of the project takes 12 months from the beginning of the date of processing the site and the removal of all obstacles and debris by the Libyan side.

Source: Libyan News Agency

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First Deputy Prime Minister meets Head of European Union Mission to Libya.

Tripoli, First Deputy Prime Minister Hussein Al-Qatrani met at the Cabinet Office in Tripoli, Head of Mission and Ambassador of the European Union to Libya, Jose Antonio Sabadell. The meeting discussed the current political situation that the country is going through and the mechanism for relieving the bottlenecks and removing obstacles to reach a fair electoral process that includes all Libyan parties.

They also discussed the Libyan-European relations and ways of enhancing them in all fields. Al-Qatrani stressed the importance of the role of the European Union in Libya’s stability and development and pushing the peace process in it, which would have a positive impact on European countries due to Libya’s location, which is a starting point for illegal immigration.

Source: Libyan News Agency

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ROSEN, A TOP RANKED LAW FIRM, Encourages Cloopen Group Holding Limited Investors with Losses to Secure Counsel Before Important February 8 Deadline in Securities Class Action – RAAS

NEW YORK, Jan. 29, 2022 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Cloopen Group Holding Limited (NYSE: RAAS): (i) pursuant and/or traceable to the registration statement and prospectus (collectively, the “Registration Statement”) issued in connection with the Company’s February 2021 initial public offering (the “IPO”); and/or (ii) between February 9, 2021 and May 10, 2021, inclusive (the “Class Period”), of the important February 8, 2022 lead plaintiff deadline.

SO WHAT: If you purchased Cloopen 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 Cloopen class action, go to http://www.rosenlegal.com/cases-register-2223.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 February 8, 2022. 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. 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 Registration Statement was false and misleading and defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Cloopen’s growth strategy was not working; (2) Cloopen’s existing customers were abandoning the Company; (3) an increasing number of Cloopen’s customers were refusing to pay; (4) as a result, the Company was forced to record massive increases in its accounts receivables and allowance for doubtful accounts; (5) Cloopen was weighed down by huge liabilities related to the fair value of certain recently-granted warrants; (6) defendants continued to misrepresent the Company’s expansion strategy; and (7) Cloopen’s dollar-based net retention rate had tumbled in 4Q 2020. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Cloopen class action, go to http://www.rosenlegal.com/cases-register-2223.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