SIVB, SIVBP EQUITY ALERT: ROSEN, A LEADING LAW FIRM, Encourages SVB Financial Group Investors to Inquire About Securities Class Action Investigation – SIVB, SIVBP

NEW YORK, March 10, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, announces that it is investigating potential securities claims and preparing a class action lawsuit on behalf of shareholders of SVB Financial Group (NASDAQ: SIVB, SIVBP) resulting from allegations that SVB may have issued materially misleading business information to the investing public.

SO WHAT: If you purchased SVB 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=12882 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 8, 2023, after trading hours, SVB shocked the market when it announced that it planned to raise nearly $2 billion, and that it would take a $1.8 billion loss on the sale of $21 billion worth of securities. Amidst these losses, it was reported that SVB's CEO, Greg Becker, had stated in a letter to investors, "while VC (venture capital) deployment has tracked our expectations, client cash burn has remained elevated and increased further in February, resulting in lower deposits than forecasted." It was also reported that various venture capital funds, including Peter Thiel's Founders Fund, had advised their portfolio companies to pull their money out of SVB accounts, triggering a run on SVB.

On this news, the price of SVB's stock plummeted $161.79, or 60.41%, to close at $106.04 per share on March 9, 2023. SVB stock continued to fall by as much as 28% in after–hours trading.

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/.

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International Women’s Day, 2023: Gender-Responsive Approach to Technology and Innovation Will Ensure Progress

Delegates at the UN observance of International Women’s Day, under the theme “DigitALL: Innovation and technology for gender equality.” Credit: Naureen Hossain/IPS

Delegates at the UN observance of International Women’s Day, under the theme “DigitALL: Innovation and technology for gender equality.” Credit: Naureen Hossain/IPS

By Naureen Hossain
UNITED NATIONS, Mar 10 2023 – Promoting gender equality in technology and digital spaces is at the core of the UN’s observance of International Women’s Day (IWD) as UN senior officials call on the world to take concrete action against ingrained gender biases.

The United Nations and UN Women hosted their observance of IWD under the theme “DigitALL: Innovation and technology for gender equality,” with a special celebration of women and girls in the STEM fields. This year’s theme aligns with digital transformation and innovation for educating women and girls currently being discussed at the 67th Commission of the Status of Women (CSW).

The event was hosted by journalist and WABC-TV anchor Sabe Baderinwa, who remarked on the theme’s significance by reminding attendees that “access to and control over technology is crucial for women’s economic and social empowerment.”

The event touched on the significance of promoting gender equality in the digital space through the meaningful ways technology and innovation can empower women and girls when given the opportunity. It also notably dissected the barriers preventing complete gender parity in this sector. Put simply, women and girls have historically been underrepresented in the STEM fields and are prevented from unlocking the full potential of technology.

At present, nearly 37 percent of women do not have access to the internet, meaning that they neither have access to resources nor are able to acquire useful digital skills. Those women and girls who do use technology and occupy digital spaces are at greater risk of being subject to online harassment and violence, and misogynistic attitudes.

The gender disparity in online spaces is also evident in the ways that online harassment has targeted women and girls in these spaces and has even pushed them off these platforms. Within the tech industry, women make up less than a third of the workforce, with even fewer of them in leadership positions.

This was pointed out by several of the speakers present at the event, including President of the General Assembly Csaba Kőrösi in his opening remarks.

“As it stands, far too many women and girls still cannot access the opportunities offered by technology… Women are twenty-seven times more likely than men to face online harassment and hate speech. Only one in four reports [these incidents], and nearly nine in ten limit their online activity because of it, reinforcing the digital divide.”

Secretary-General Antonio Guterres said in a statement that technology can lift women and girls up in “a myriad of ways” through access to education and healthcare or entrepreneurship. But the full promise of technology can only be realized when the systematic barriers have been confronted. This starts with including more women in leadership roles in the tech sector.

“Without women’s leadership, the Silicon Valleys of this world don’t disrupt the patriarchy; they simply digitize sexism and perpetuate inequalities. And without women’s leadership, tomorrow’s products will have gender equality built into their code.”

In his own statement at the event, the Secretary-General’s Chef de Cabinet Earle Courtney Rattray brought attention to how the disparity in technology access is more prominent in developing countries, including the Least Developed Countries.

“Nowhere is this more evident than in LDCs,” he said. “According to the International Telecommunications Union, about two-thirds of the LDC population remains offline, and the gap between these countries and the rest of the world in the [sheer number] of people losing access to the internet has increased from 27% in 2011 to 30% last year.”

“The inclusion of women and girls as prominent key players in digital evolution for current and future generations gives the opportunity to address the most critical development and humanitarian challenges,” Chair of the 67th Commission on the Status of Women Mathu Joyini said in her statement.

UN-Women Executive Director Sima Bahous reminded those in attendance of the Sustainable Development Goals (SDG), particularly SDG5, which calls for gender equality and the empowerment of all women and girls. “It is no coincidence that today, as SDG5 is off-track, so are the SDGs as a whole. We live in a world of interconnected crises. At the heart of every crisis, we see inequality multiplied. We now have a new form of poverty. Digital poverty is growing and intensely gendered.”

In her statement, Secretary-General of the International Telecommunications Union (ITU) Doreen Bogdan-Martin shared stories of young women and girls who used technology to improve the quality of life in their communities through their own innovations, remarking on how their examples “reminds us that technology is not a luxury, but a necessity.”

“We have the foundation because all countries agree on the need to achieve universal connectivity, and they agree on the need for sustainable digital transformation,” she said. “We also have the momentum, the Partner2Connect Digital Coalition led by the ITU, together with many UN partners, has mobilized in one year over $17 billion USD for digital gender equality. We also have the unique opportunity… all of us today together, to ensure that gender equality happens in our lifetime and not in 300 years.”

During a panel discussion moderated by Baderinwa, the current state of technology and innovation was further explored, with particular attention paid to the involvement that would be needed from multiple stakeholders to achieve gender parity.

As journalist and UN Women Goodwill Ambassador Marion Reimers remarked, when it comes to the safety of women and girls, attention should be given to the systems that perpetuate harassment online, including in the case of women journalists.

“We are so far behind because it feels like there is no help because this is a new landscape, and it has created so many new necessities that we need to catch up real quick,” she said. “When you take into account that 75% of women journalists are victims of online harassment, this is directly intertwined with how we speak about problems in the public sphere… with how the voices of women are taken into account.”

“If we want to succeed, we must have meaningful participation and involvement from civil society,” said Marie Bjerre, Minister for Digital Government and Gender Equality in Denmark. She also added that governments’ involvement should include introducing legislation that would place more protections online, citing Denmark’s own examples in passing laws that target online grooming and the distribution of intimate images.

Director of Strategic Initiatives at Pollicy, Dr Irene Mwendwa, spoke from the perspective of policymakers and researchers in the field and the transformative power that technology can have for local government women leaders in Africa. “Once they understand the power of technology and data, when they go into the council, when they go into cabinet and parliament, they will be able to debate better. When they debate better over the legal frameworks, the policies coming out of our countries into our communities will be inclusive to both women’s and men’s needs, pertaining to ICT.”

Finally, the perspective and contributions of young people as those most involved and present in online spaces must also be encouraged, especially young women. UNICEF Youth Advocate Gitanjali Rao remarked on the opportunity to “harness the ingenuity that youth bring to the plate.”

“Now is the time to maximize creativity. We should be taking these opportunities to look at the ways in which we can support girls, especially by digitizing content online and honestly supporting them in every way possible, whether that’s through the work they’re doing or making sure that they’re safe online as well,” she said.

The speakers and panelists called for multiple measures to be taken that could address the systemic gaps and inequalities that women and girls face with technology. These measures include broadening access to technology to reach more people, investing in digital skills-based learning for women and girls to effectively make use of technology and learning, and breaking down the gender biases and binaries that make digital spaces unsafe for certain groups, especially through gender-based violence facilitated through technology.

This also means promoting more women into leadership and decision-making roles in the tech sector and beyond, where there are able to directly influence policy and legislation. As technology continues to be ubiquitous in our daily lives, a gender-responsive approach will be crucial to future innovations.

“Without decisive action, the digital gender divide will become the new face of widening social and economic inequalities,” Deputy Secretary-General Amina Mohammed said in a video statement at the end of the event.
IPS UN Bureau Report

 


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Vanuatu Twin Cyclones Underscore the Pacific’s Vulnerability to Compounding Climate-Disaster Risks

By Sanjay Srivastava and Sudip Ranjan Basu
BANGKOK, Thailand, Mar 10 2023 – Two destructive Category 4 tropical cyclones, Judy and Kevin, and an earthquake of 6.5 magnitude impacted over 80 per cent of the Vanuatu population from 1 to 3 March 2023. To address this emergency situation, the UN, along with Pacific member States have deployed personnel on the ground to coordinate humanitarian assistance and prepare post-disaster damage assessment.

Sitting in the Pacific “Ring of Fire,” Vanuatu experiences frequent volcanic and seismic activity. And along with the other Pacific small island developing States (SIDS), Vanuatu faces existential threats due to rising sea level, ocean acidification and the increased frequency and severity of natural disasters and is on the front line of climate crisis.

The twin cyclones and an earthquake in just 48 hours remind the world that seismic and climate risks are converging and intensifying – no community feels this stronger than those of the Blue Pacific Continent.

On macro-economic impact, in fact, Pacific SIDS face Average Annual Losses from multiple hazards totaling to US$ 1.1 billion in the current scenario. This figure is set to increase to US$ 1.3 billion under moderate and US$1.4 billion under worst-case climate warming scenarios. As a percentage of GDP, Vanuatu, Tonga and Palau are projected to face highest losses – Vanuatu is projected to lose a staggering 20 per cent GDP annually due to disasters.

Figure 1: Tropical cyclones Judy and Kevin track with wind speed zones (UNITAR-UNOSAT)

 

Intensifying and expanding climate crisis

In ESCAP’s recent report, the analysis shows that at 1.5 to 2.0 °C warming, there are likely intensifying annual wind speeds of tropical cyclones and that the risk of tropical cyclones is expected to expand and include newer areas beyond the historical tracks (Figure 2). Vanuatu in particular, will experience higher risk of tropical cyclone both in terms of the intensification as well as geographic expansion of the riskscape.

As cyclone hazards are intensifying and deviating from their traditional tracks, their greater complexity results in deeper uncertainties in the ability to predict. Our Blue Pacific Continent is not sufficiently prepared.

Figure 2: Intensifying and expanding cyclone risks under new climate change scenarios

 

Formulating transformative actions

As the climate changes, the riskscape is transforming. These disaster risks compound and cascade to amplify the great hardship experienced by the Pacific SIDS in terms of population and critical infrastructure exposure. The argument for transformative action to mitigate and adapt to intensifying and expanding disaster risks in the Blue Pacific Continent has never been more compelling.

First, early warning for all is an imperative, needs to capture compounding risks.

The UN Secretary-General highlighted that every person on the planet is to be covered by early warning systems by 2027. The Sendai Framework for Disaster Risk Reduction sets the increase in availability and access to of multi‑hazard early warning systems as a distinct target, Target G, to be achieved by 2030. As per the latest Sendai Framework reporting of Target G, large gaps remain for many countries in the Pacific SIDS (See Figure 3).

Relative to other countries in the subregion, Vanuatu’s Target G scores are high, reporting substantial to comprehensive coverage of multi-hazard early warning systems across all indicators. WMO’s Regional Specialized Meteorological Centre in Nadi, Fiji was providing early warnings in the face of power outages and surmounting uncertainties – as a result, there have been no reported fatalities.

Figure 3: Sendai Framework for DRR Target G scores for countries in the Pacific region

 

Second, transformative adaptation solutions are needed.

To minimize and prevent systemic and cascading risk, we need to make new infrastructure and water resource management more resilient. Improving dryland crop production and using nature-based solutions such as increasing mangroves protection are also priority adaptation solutions.

1.5 per cent of GDP for adaptation investment is estimated to be needed in Pacific SIDS – three times less than the average losses projected. These adaptation investments must be risk-informed and strategically directed towards policy actions that yield high cost-benefits. Where there are multi-hazard risk hotspots across the region, risk-informed policy and transformative actions should capitalize on inter-sectoral synergies and co-benefits.

Third, the 2050 Strategy for the Blue Pacific Continent provides a clear pathway

With the adoption of the 2050 Strategy for the Blue Pacific Continent in July 2022, Pacific SIDS have developed a clear pathway to synergize regional priorities with accelerated implementation of the 2030 Agenda for Sustainable Development, the Sendai Framework for Disaster Risk Reduction and the SAMOA Pathway.

Next generation risk analytics, advances in climate science, geo-spatial modeling, Artificial Intelligence and machine learning must be at the heart of people-centered and evidence-based decision-making. And, the Framework for Resilient Development in the Pacific is an ideal platform to take forward some of the policy decisions.

Strengthening subregional and regional cooperation platform

Tropical cyclones, often transboundary in nature, require an architecture of regional co-operation mechanisms to effectively manage the shared risks. In this instance, local capacities and regional support mechanisms should be commended. To further strengthen this work, the lesson from Vanuatu’s back-to-back cyclones and earthquake is to have effective, impact-based and risk informed early warning systems that can capture the complexity and dynamisms of a compounding risk.

The Asia-Pacific Risk and Resilience Portal was developed by ESCAP with the goal of creating a user-friendly one stop platform for policymakers to access a vast array of scientific information and decision support tools to promote risk informed policy decisions.

Furthermore, the Vanuatu incidents underscores the need for conducting a rapid post-disaster needs assessment that can support formulation of a long-term recovery strategy and plan for its reconstruction by applying a standardized approach with innovative methodology and framework.

The overlapping and transboundary nature of risks experienced by countries of the Blue Pacific Continent cannot be addressed without solidarity and collective action towards strengthening regional cooperation platform.

Sanjay Srivastava is Chief, Disaster Risk Reduction, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP);
Sudip Ranjan Basu is Deputy Head, ESCAP Subregional Office for the Pacific

IPS UN Bureau

 


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Breaking Barriers: Why Free & Public Education Should be Every Woman’s Right

The 67th session of the Commission on the Status of Women (6-17 March) gets underway at UN headquarters in New York . Credit: UN Photo/Manuel Elías

By Dana Abed
BEIRUT, Mar 10 2023 – This month, government and civil society organization representatives gathered in New York for the United Nations’ 67th session of the Commission on the Status of Women (CSW) to discuss technology as a tool to facilitate access to education for women and girls.

But what should have been discussed were the basic issues of gender equality in education. As more than 85% of the world is living under austerity, and with 70% of countries cutting funding to education services, access to education for women and girls is being devastated by the lack of public funding.

The gap between boys and girls when it comes to school enrolment continues to be major, and quite concerning. Data consistently shows – particularly in low- and middle- income countries – that girls from poor families are the children most likely to be, and remain, out of school.

And the cost of education is one of the main barriers for access – which raises the question of affordability when it comes to technological integration.

While technological innovation has the potential to support instruction and education governance, we cannot turn a blind eye to the reality of digital inequality, the possibility of increased fees, and the privatization of education.

That is on top of the existing risks that are associated with the use of technology, including online violence and abuse and the lack of digital protection for girls, further locking girls out of their rights to education.

Austerity measures, public funding cuts, and privatization severely limit the goal of universal education. In a report published last November, Oxfam found that austerity is a form of gender-based violence.

And during CSW67, we emphasized that access to public and quality education is fundamental to gender equality and the realization of the rights of women and girls.

Oxfam does not claim that austerity measures are designed to hurt women and girls, but as policy makers design those policies, they tend to ignore the specific needs of women and girls and turn a blind eye to the disproportionate impact that those policies have on our communities.

We’ve reached this conclusion by gathering evidence from around the world, which showed that governments do not prioritize the needs to women and girls. For instance, more than 54% of the countries planning to cut their social protection budget in 2023 have minimal or no maternity and child support.

In their misguided attempts to balance their books against a looming global economic crisis, governments are treating women and girls as expendable. Women, particularly those from marginalized racial, ethnic, caste, and age groups, are inherently discriminated against when it comes to economic and social opportunities and accessing available public resources. Additional cuts to inequality-combatting public services mean these groups are the hardest hit.

Cuts to both the public wage bill and public health and social protection services – measures that women and their families rely on for survival – mean that women and girls bear the brunt of this austerity because health, education, feeding the family, paying the bills, caring for children and elderly all fall most heavily onto them.

For example, cutting wages in the public work force – especially in sectors like health where women represent 90% of the workforce or education where they represent 64% of the workforce – will directly impact job security.

We must resist austerity and should instead be taxing the wealthiest corporations and people properly. A progressive tax on the world’s millionaires and billionaires could raise $1.1 trillion more than the savings that governments are currently planning to make through their austerity cuts.

With such funding, governments could adopt feminist budgeting across all sectors that put women and girls in all their diversity at the heart of policy making, including ensuring access to quality, and public education.

Feminist movements have for years pushed for bold alternatives to our neo-liberal, capital-oriented economies, and Oxfam raises its voice with them. The integration of technology in education must be looked at from an intersectional lens, taking into consideration barriers to access for girls and low- and middle-income countries, and should not come with an additional cost to the education bill.

We need to stand in solidarity with the women’s rights and feminist movements in demanding that our leaders stop peddling the gender-based violence of austerity as the solution and support more feminist progressive representation beyond identity politics.

We must resist creating societies that prioritize the needs of the most privileged at the expense of everyone else – and instead work to create communities and policies that reflect our diverse backgrounds and identities.

IPS UN Bureau

 


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Excerpt:

The writer is Global Campaigns Strategist for Gender Rights and Justice at Oxfam International.

Next Ebola Outbreak ‘Not a Matter of If, but When’

Uganda used public health measures like screening, testing of temperatures, and isolation of suspected cases to contain the Ebola outbreak. While those measures were successful, scientists warn that another outbreak could occur. Credit: Wambi Michael/IPS

By Wambi Michael
KAMPALA & MUBENDE, Mar 10 2023 – It is two months since the World Health Organization declared Uganda free of the most recent Sudan ebolavirus, which killed 55 people.

Uganda employed public health measures to end the outbreak. In the absence of vaccines and therapeutics, the threat of the next outbreak looms.

Scientists are yet to find answers to questions like who was the first person to be affected? Or the index case, what viral host reservoir did that patient get in contact with?

“We don’t have answers to those questions. And honestly, we are hoping that Uganda will provide us and the world with those answers,” says Emmy Bore, program director for the CDC’s Division of Global Health Protection in Uganda.

“In every Ebola outbreak we have responded to, in West Africa, in DRC, there have been attempts to trace the roots back to the very first person who got infected. When you figure out where that person went and what they ate, you can figure out how they managed to get the virus. In most outbreaks, we don’t,” she said.

With those questions answered, Lt Colonel Dr Kyobe Henry Bossa, who has been at the front lines against Ebola outbreaks and COVID-19, told IPS that it is urgent they track precisely the viral host reservoir before the next outbreak.

“We know that the reservoir lives in the jungle innocently. We suspect that the viral host reservoir is a bat circulating in the area, and the virus is maintained in nature,” said Kyobe.

Bats have long been the prime suspects for what scientists have termed as the “spillover” of novel pathogens to humans. They are believed to harbor diverse viruses more lethal to humans than any other mammals.

Ugandan Veterinarian and Epidemiologist Dr Monica Musenero Masanza is no stranger to fighting viruses like Ebola and Marburg in Uganda and West Africa. Musenero came to be commonly known as Dr Kornya—loosely translated as a female warrior for her fight against Ebola in Port Loko in northern Sierra Leone. She told IPS that Ebola is categorized among emerging or re-emerging diseases.

“And those diseases show up with a lot of drama. Ebola, when it shows up, there is a lot of drama. Now those emerging and re-emerging diseases are attracting a lot of attention. Unfortunately, because we don’t know much about them, there is usually little we can do about them in the immediate except control,” said Musenero.

According to Musenero, now that Uganda successfully ended the Sudan ebolavirus, efforts should be geared towards finding pathogen X otherwise, another outbreak is guaranteed. “It’s not a matter of if, but when. That is why we should get to the jungles to find the host reservoir,” she said.

On September 20, 2022, Uganda declared an Ebola disease outbreak caused by the Sudan ebolavirus species in the Mubende district.

It was the country’s first Sudan ebolavirus outbreak in a decade and its fifth of this kind of Ebola. There were 164 cases (142 confirmed and 22 probable), 55 confirmed deaths, and 87 recovered patients.

The outbreaks have over the years occurred in a very similar region, with the suspected viral host reservoir suspected to be a bat.

Dr Trevor Shoemaker, an epidemiologist in the Division of High-Consequence Pathogens and Pathology at the National Center for Emerging and Zoonotic Diseases at the Center for Disease Control (CDC), suspects that bats carrying the virus are circulating in that area.

“It is not unexpected that there would be an outbreak where we have seen previous outbreaks in the central region of Uganda,” said Shoemaker.

According to Shoemaker, during the course of testing for ebolavirus cases in the just-ended outbreak, three of the samples were negative for ebolavirus but tested positive for another viral hemorrhagic fever called Crimean Congo hemorrhagic fever.

“There are pathogens that we know about, and there are those we know. So we need to trace them before they spill over to humans,” said Shoemaker.

Scientists from the University of Bonn have in the past confirmed the presence of Crimean Congo viruses in African bats and therefore suggesting that bats could play a role in spreading the virus.

Others studies have linked Crimean Congo viruses to ticks. While bats have been suspected as reservoirs of the Sudan ebolavirus, no conclusive evidence exists.

The district of Mubende and Kasanda forested with indigenous trees. Some private plantation forests are also thriving. Late in the evening, different species of bats fly into the darkening sky.

Fortytwo-year-old Bright Ndawula is an Ebola survivor. He tells IPS that there are as more as ten types of bats that he knows of “Some are tiny, they live under the rooftops, some are big, and they live in trees. Health workers told us that bats carry Ebola, but we don’t know one,” said Ndawula who lost his wife and three family members to the virus.

So far, scientists have been able to identify only one species of African fruit bat (R. aegyptiacus) positive for Marburg virus infection. No evidence of the Marburg virus was identified in the other species of insect-eating or fruit bats tested.

A few kilometers out of Mubende town, IPS comes across farmers and loggers living on the edge of the forest, risking some of the infectious diseases that may spill over from bats to humans.

Dr Charles Drago Kato leads a surveillance team with USAID funded project named Strategies to Prevent Spillover, or STOP Spillover. It targets viral zoonotic diseases—infections that originate in animals before they “spill over” into humans. His teams have been to Districts like Mubende, Kibale, and parts of the Rwenzori Mountains, specifically researching bats and humans.

He told IPS that under the project, they are trying to trace pathogens in bats that may be dangerous when they cross over to humans.

IPS UN Bureau Report

 


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ROSEN, A GLOBAL AND LEADING LAW FIRM, Encourages Phathom Pharmaceuticals, Inc. Investors to Inquire About Securities Class Action Investigation – PHAT

NEW YORK, March 09, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, continues its investigation of potential securities claims on behalf of shareholders of Phathom Pharmaceuticals, Inc. (NASDAQ: PHAT) resulting from allegations that Phathom may have issued materially misleading business information to the investing public.

SO WHAT: If you purchased Phathom 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=7943 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 August 2, 2022, before market hours, Phathom issued a press release entitled "Phathom Pharmaceuticals Reports Second Quarter 2022 Financial Results and Provides Business Updates" which announced that "we detected trace levels of a nitrosamine in vonoprazan drug product in our post–approval testing as we prepared for commercial launch." Further, the press release announced that "[t]he Company is working with the FDA and plans to obtain approval of and implement an additional test method, specification, including a proposed acceptable intake limit, and additional controls to address this impurity prior to releasing our first vonoprazan–based products to the market." Finally, Phathom announced that "[t]hese additional activities will result in a delay of the planned VOQUEZNA DUAL PAK and VOQUEZNA TRIPLE PAK product launches."

On this news, Phathom's stock price fell $2.61 per share, or 28%, to close at $6.46 per share on August 2, 2022.

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.

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
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GLOBENEWSWIRE (Distribution ID 8785649)

ROSEN, GLOBALLY RECOGNIZED INVESTOR COUNSEL, Encourages G-III Apparel Group Ltd. Investors to Inquire About Securities Class Action Investigation – GIII

NEW YORK, March 09, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of G–III Apparel Group Ltd. (NASDAQ: GIII) resulting from allegations that G–III may have issued materially misleading business information to the investing public.

SO WHAT: If you purchased G–III 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=11207 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 December 1, 2022, G–III announced its third–quarter financial and operating results. Among other things, G–III reported that "higher inventory levels are due to our accelerated production calendar, which was in anticipation of longer supply chain lead times. Our inventory is comprised of current purchases and guided by our order book. During the quarter, the higher inventory levels caused logistical challenges within our distribution centers. This resulted in significant one–time charges in the third quarter, that were above our expectations, which adversely impacted our bottom line by approximately $0.40 per diluted share".

On this news, G–III's stock price fell $9.66 per share, or 44%, to close at $11.97 per share on December 1, 2022.

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.

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 8785621)

GLOBALLY RECOGNIZED ROSEN LAW FIRM Encourages Provident Bancorp, Inc. Investors to Inquire About Securities Class Action Investigation – PVBC

NEW YORK, March 09, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Provident Bancorp, Inc. (NASDAQ: PVBC) resulting from allegations that Provident may have issued materially misleading business information to the investing public.

SO WHAT: If you purchased Provident 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=10252 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 November 15, 2022, Provident filed a Form NT 10–Q Notification of inability to timely file Form 10–Q for the quarter ended September 30, 2022. The Form NT 10–Q stated the delay was due to "estimates that [Provident] will report net loss of approximately $27.5 million for the quarter ended September 30, 2022, compared to net income of $5.1 million for the quarter ended September 30, 2021."

On this news, Provident's stock price fell $2.20, or 21%, to close on November 16, 2022 at $7.90 on unusually high trading volume.

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.

———————————————–

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 8785641)

ROSEN, TOP RANKED GLOBAL COUNSEL, Encourages The Goldman Sachs Group, Inc. Investors to Inquire About Securities Class Action Investigation – GS

NEW YORK, March 09, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of The Goldman Sachs Group, Inc. (NYSE: GS) resulting from allegations that Goldman Sachs may have issued materially misleading business information to the investing public.

SO WHAT: If you purchased Goldman Sachs 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=11359 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 January 20, 2023, during trading hours, The Wall Street Journal published an article entitled "U.S. Fed probes Goldman Sachs consumer business." The article stated that "The U.S. Federal Reserve is probing whether Goldman Sachs Group Inc's consumer business had appropriate safeguards in place as the bank ramped up lending." Further, the article stated that "The central bank is concerned the Wall Street giant did not have proper monitoring and control systems inside Marcus, its consumer unit, as it grew larger." The article added that "The probe, which grew out of a standard Fed review of the business in 2021 and intensified into an investigation last year, is also examining instances of customer harm and whether they were properly resolved."

On this news, Goldman Sachs's price fell $8.91, or 2.54%, to close at $341.84 on January 20, 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.

———————————————–

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 8785652)