Day: March 28, 2023

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ROSEN, A HIGHLY RECOGNIZED LAW FIRM, Encourages Hesai Group Investors to Inquire About Securities Class Action Investigation – HSAI

NEW YORK, March 27, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Hesai Group (NASDAQ: HSAI) resulting from allegations that Hesai may have issued materially misleading business information to the investing public.

SO WHAT: If you purchased Hesai securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.

WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=13347 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.

WHAT IS THIS ABOUT: On March 16, 2023, Hesai announced in a press release its unaudited financial results for the three months and full year ended December 31, 2022. The Company failed to disclose in the Restatement that in their fourth quarter ended December 31, 2022 (“4Q2022”), the last completed quarter before the Company’s initial public offering (“IPO”), there was “lower in-house plant capacity utilization rate”, which caused the increased shipments of lower-margin advanced driver assistance systems (“ADAS”) and light detection and ranging (“LiDAR”) products. Loss from operations widened by 84.9% in 4Q2022 compared to their fourth quarter ended in December 31, 2021.

On this news, Hesai’s share price fell $1.55, or 10%, to close at $13.69 per share on March 16, 2023.

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.

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

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

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Contact Information:

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

GlobeNewswire Distribution ID 8796370

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Al-Dabaiba chairs a meeting to follow up on the activity of the Ministry of Economy.

The Head of the Government of National Unity, Abdul Hamid Al-Dabaiba, chaired yesterday, a meeting in the office of the Ministry of Economy and Trade, which included the Minister of Economy and Trade in charge, Suhail Abu Shiha, the Ministers of Transportation and the Minister of State for Affairs, the Prime Minister and the Council of Ministers, and the Undersecretaries of the Ministry for Economic Affairs and Free Zones, during which the ministry’s activities were followed up on and reports were given on the results of the work in the Emergency Room to provide goods.

The meeting reviewed reports of the work of the teams assigned to the emergency room and the rise in meat prices and their causes related to the rise in feed prices and the lack of vaccines for livestock. It also discussed mechanisms for following up the supply of goods and their flow into the local market, as most commodities witness a relative decrease in their prices compared to last year during the month of Ramadan.

It also reviewed the activity of the Ministry and its affiliated bodies in registering and organizing companies and trademarks, and the mechanism of work of the commercial registry system that was launched during 2022, as well as organizing import and export operations, in addition to Libya’s commercial network, which is concerned with completing the documentary cycle and import and export procedures. electronically, which includes all relevant authorities.

Al-Dabaiba called to implement Libya’s commercial network and activate it with all relevant authorities, strengthening the role of the private sector and organizing supply operations in cooperation with the competent authorities and business owners.

Source: Libyan News Agency

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Al-Manqoush congratulates her Algerian counterpart on his assumption of his new position.

The Minister of Foreign Affairs and International Cooperation in the Government of National Unity, “Naglaa Al-Manqoush,” made a phone call today, Tuesday, with the Algerian Minister of Foreign Affairs, “Ahmed Ataf.”

During the call, Al-Manqoush congratulated her Algerian counterpart on his assumption of his new position, wishing him full success in performing his work.

The two ministers affirmed their keenness to strengthen brotherly ties and joint cooperation to consolidate historical relations between the two brotherly countries, and to continue coordination and consultation on various issues of common concern. They also exchanged views on developments in the political situation in Libya.

During the call, the Algerian minister affirmed his country’s support for stability in Libya and achieving the aspirations of the Libyan people.

Source: Libyan News Agency

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Interior Ministry issues an explanatory statement regarding the circulating video of a Central Support employee about the lack of supplies.

Ministry of Interior of the Government of National Unity confirmed the validity of what was circulated by a number of social media pages about a video clip in which an employee of the General Administration of Central Support appears talking about the lack of supplies allocated by the administration and that it is not enough for present members.

The ministry confirmed – in an explanatory statement published today, Tuesday – that the ration allocations have been suspended since the end of last year, based on the instructions of the prime minister, noting that the ration that the police members talked about in the video was provided by direct diligence from the director of the General Administration of Central Support.

The ministry said in its statement that this issue was on the agenda for discussion at the meeting held by the designated Interior Minister with heads of departments and agencies and directors of departments and offices, who, in turn, stressed the need to work for a breakthrough in this stoppage, so that it includes all components of the Ministry of Interior, in accordance with legal controls and health specifications.

Source: Libyan News Agency

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The Minister of Justice and the French Ambassador discuss prospects for cooperation between the two countries.

The Minister of Justice of the Government of National Unity, “Halima Abdel-Rahman”, received today, Tuesday, in Tripoli, the French Ambassador to Libya, “Mustafa Al-Mahraj”.

The French embassy stated on its Twitter account that the meeting dealt with discussing prospects for cooperation between France and Libya.

Source: Libyan News Agency