Latest news with #securities
CNA
2 hours ago
- Business
- CNA
Singaporean businessman David Yong from Netflix's Super Rich In Korea handed fresh charge
SINGAPORE: Businessman David Yong was on Tuesday (Jun 3) given a new charge over making offers of securities without a prospectus. Yong, the 38-year-old CEO of multinational business and holding company Evergreen Group Holdings, now faces a total of five charges, the police said. In the latest charge, which falls under the Securities and Futures Act 2001, the Singaporean, whose full name is Yong Khung Lin, is accused of consenting to the offering of promissory notes by Evergreen GH between July 2023 and July 2024. This offering allegedly did not comply with the requirements of the Act, which states that any offer of securities must be made in or accompanied by a prospectus that is lodged with and registered by the Monetary Authority of Singapore (MAS), unless an exemption has been granted. A total sum of more than S$61 million (US$45.1 million) was raised from the issuance of over 1,000 promissory notes that promised annual interest of 10 per cent, according to the police. If convicted of making offers of securities without a prospectus, he could face two years' jail, a fine of up to S$150,000 or both. As Yong's latest charge is amalgamated to account for all the promissory notes offered and issued, he may be liable to two times the amount of punishment if found guilty. Yong's four other charges involve abetting others to falsify papers belonging to Evergreen GH with intent to defraud. These relate to tax invoices over the sale of furniture, interior design services, or household fittings and appliances, and financial statements belonging to Evergreen GH. If convicted of abetting the falsification of invoices, he faces up to 10 years' jail, a fine, or both, for each charge. Yong is due in court for a pre-trial conference on Thursday. He was first charged on Aug 3, 2024 and has been out on bail of S$1 million. Yong has made three unsuccessful bids to leave Singapore. In March, he failed in his third bid, after a court deemed him a "serious flight risk". On Feb 19, Yong's second application to leave the country was rejected by District Judge Brenda Tan, who also presided over the hearing in March. In August last year, Yong's application to go to Japan was denied after the court deemed that his presence there was not necessary and that he had access to substantial funds there, increasing his flight risk. He has appeared on the Netflix show Super Rich in Korea, which showcases the lifestyles of extremely affluent people who set up base in Korea. In the show, Yong has said he is part of "Singapore's top 1 per cent super rich".
Associated Press
a day ago
- Business
- Associated Press
ROSEN, TOP RANKED INVESTOR COUNSEL, Encourages Bitfarms Ltd. Investors to Secure Counsel Before Important Deadline in Securities Class Action
New York, New York--(Newsfile Corp. - June 1, 2025) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Bitfarms Ltd. (NASDAQ: BITF) between March 21, 2023 and December 9, 2024, both dates inclusive (the 'Class Period'), of the important July 8, 2025 lead plaintiff deadline. SO WHAT: If you purchased Bitfarms 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 Bitfarms class action, go to or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] 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 8, 2025. 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 achieved the largest ever securities class action settlement against a Chinese Company at the time. 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, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) Bitfarms maintained deficient internal controls over financial reporting; (2) as a result, Bitfarms incorrectly categorized proceeds derived from the sale of digital assets as a cash flow from operating activities rather than as a cash flow from investing activities; (3) in addition, Bitfarms overstated the extent to which it had remediated, and/or its ability to remediate, the material weakness in its internal controls over financial reporting related to its classification of the 2021 Warrants; (4) the foregoing errors caused Bitfarms to misstate various items in several of Bitfarms' previously issued financial statements; (5) as a result, these financial statements were inaccurate and would likely need to be restated; and (6) as a result, Bitfarms' public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages. To join the Bitfarms class action, go to call Phillip Kim, Esq. toll-free at 866-767-3653, or email [email protected] 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: or on Twitter: or on Facebook: 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 [email protected] To view the source version of this press release, please visit
Associated Press
a day ago
- Business
- Associated Press
BBAI DEADLINE: ROSEN, TOP RANKED INVESTOR COUNSEL, Encourages BigBear.ai Holdings, Inc. Investors to Secure Counsel Before Important June 10 Deadline in Securities Class Action
New York, New York--(Newsfile Corp. - June 1, 2025) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Holdings, Inc. (NYSE: BBAI) between March 31, 2022 and March 25, 2025, both dates inclusive (the 'Class Period'), of the important June 10, 2025 lead plaintiff deadline. SO WHAT: If you purchased 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 class action, go to or call Phillip Kim, Esq. at 866-767-3653 or email [email protected] for more information. 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 10, 2025. 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 achieved the largest ever securities class action settlement against a Chinese Company at the time. 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 false and misleading statements and/or failed to disclose that: (1) maintained deficient accounting review policies related to the reporting and disclosure of certain non-routine, unusual, or complex transactions; (2) as a result, incorrectly determined that the conversion option within the 2026 Convertible Notes qualified for the derivative scope exception under Accounting Standards Codification ('ASC') 815-40 and failed to bifurcate the conversion option as required by ASC 815-15; (3) accordingly, had improperly accounted for the 2026 Convertible Notes; (4) the foregoing error caused to misstate various items in several of previously issued financial statements; (5) as a result, these financial statements were inaccurate and would likely need to be restated; (6) would require extra time and expense to correct the inaccurate financial statements, thereby increasing the risk that would be unable to timely file certain financial reports with the SEC; and (7) as a result, public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages. To join the class action, go to or call Phillip Kim, Esq. at 866-767-3653 or email [email protected] for more information. 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: on Twitter: or on Facebook: 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 [email protected] To view the source version of this press release, please visit
Associated Press
a day ago
- Business
- Associated Press
ROSEN, TOP RANKED INVESTOR COUNSEL, Encourages Civitas Resources, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action
New York, New York--(Newsfile Corp. - June 1, 2025) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Civitas Resources, Inc. (NYSE: CIVI) between February 27, 2024 and February 24, 2025, both dates inclusive (the 'Class Period'), of the important July 1, 2025 lead plaintiff deadline. SO WHAT: If you purchased Civitas Resources 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 Civitas Resources class action, go to or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] 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 1, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose that: (1) Civitas was highly likely to significantly reduce its oil production in 2025 as a result of, among other things, declines following the production peak at the DJ Basin in the fourth quarter of 2024 and low TIL count at the end of 2024; (2) increasing its oil production would require Civitas to acquire additional acreage and development locations, thereby incurring significant debt and causing Civitas to sell corporate assets to offset its acquisition costs; (3) Civitas' financial condition would require it to implement disruptive cost-reduction measures including a significant workforce reduction; (4) accordingly, Civitas' business and/or financial prospects, as well as its operational capabilities, were overstated; and (5) as a result, Civitas' public statements were false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages. 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 achieved the largest ever securities class action settlement against a Chinese Company at the time. 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. To join the Civitas Resources class action, go to or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. Follow us for updates on LinkedIn: , on Twitter: or on Facebook: . 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 [email protected] To view the source version of this press release, please visit
Associated Press
2 days ago
- Business
- Associated Press
Viatris Deadline: VTRS Investors with Losses in Excess of $100K Have Opportunity to Lead Viatris Inc. Securities Fraud Lawsuit
NEW YORK, June 1, 2025 /PRNewswire/ -- Why: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Viatris Inc. (NASDAQ: VTRS) between August 8, 2024 and February 26, 2025, both dates inclusive (the 'Class Period'), of the important June 3, 2025 lead plaintiff deadline. So what: If you purchased Viatris 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 Viatris class action, go to call Phillip Kim, Esq. at 866-767-3653 or email [email protected] for more information. 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 3, 2025. 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 achieved the largest ever securities class action settlement against a Chinese Company at the time. 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, during the Class Period, defendants provided investors with material information concerning the failed inspection of Viatris' Indore, India facility. Defendants' statements, albeit made months after the initial inspection and defendants' initiation of remediation efforts included, among other things, the disclosure of the FDA's issuance of a warning letter and import alert which would prevent Viatris from shipping eleven products from the Indore facility, though four of such were exempt from the limitations (the 'Warning Letter'). Defendants routinely referred to the impact of the Warning Letter as a mere 'minor headwind' for Viatris. Further, defendants provided these disclosures to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state impact of the Warning Letter on Viatris' financials. Notably, defendants did not disclose precisely when the inspection occurred, how long the remediation efforts had been implemented, or the financial impact of the existing and continued remediation efforts. Defendants further notably failed to disclose which products were subject to the FDA Warning Letter, which products were subject to exemptions, and the significance of the restricted products with respect to Viatris' existing financials and future projections, and for which Viatris believed it would obtain exemptions. Such statements, absent these material facts, caused Plaintiff and other shareholders to purchase Viatris' securities at artificially inflated prices. When the true details entered the market, the lawsuit claims that investors suffered damages. To join the Viatris class action, go to or call Phillip Kim, Esq. at 866-767-3653 or email [email protected] for more information. 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: on Twitter: or on Facebook: 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 [email protected] View original content to download multimedia: SOURCE THE ROSEN LAW FIRM, P. A.
