RVYL FINAL DEADLINE NOTICE: ROSEN, TRUSTED INVESTOR COUNSEL, Encourages RYVYL Inc. f/k/a Greenbox POS Investors to Secure Counsel Before Important April 3 Deadline in Securities Class Action Filed by the Firm – RVYL, GBOX

NEW YORK, March 26, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Ryvyl Inc. f/k/a Greenbox POS (NASDAQ: RVYL, GBOX): (i) pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company’s January 29, 2021 public offering (the “Offering”); and/or (ii) between January 29, 2021 and January 20, 2023, both dates inclusive (the “Class Period”), of the April 3, 2023 lead plaintiff deadline in the securities class action commenced by the Firm.

SO WHAT: If you purchased Ryvyl 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 Ryvyl class action, go to https://rosenlegal.com/submit-form/?case_id=11425 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [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 April 3, 2023. 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 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/or misleading and/or failed to disclose that: (1) the Company would restate certain financials; (2) the Company’s internal controls were inadequate; (3) the Company downplayed and obfuscated its internal controls issues; and (4) as a result, the Registration Statement was 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 Ryvyl class action, go to https://rosenlegal.com/submit-form/?case_id=11425 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [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: 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
[email protected]
[email protected]
[email protected]
www.rosenlegal.com

GlobeNewswire Distribution ID 8795216

ROSEN, GLOBAL INVESTOR COUNSEL, Encourages Rite Aid Corporation Investors With Losses to Secure Counsel Before Important Deadline in Securities Class Action Commenced by the Firm – RAD

NEW YORK, March 26, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Rite Aid Corporation (NYSE: RAD) between April 26, 2018 and March 13, 2023, both dates inclusive (the “Class Period”), of the important May 19, 2023 lead plaintiff deadline in the securities class action commenced by the firm.

SO WHAT: If you purchased Rite Aid 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 Rite Aid class action, go to https://rosenlegal.com/submit-form/?case_id=9388 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [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 May 19, 2023. 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 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) Until at least June 2019, Rite Aid filled at least hundreds of thousands of unlawful prescriptions for controlled substances that lacked a legitimate medical purpose, including for potentially lethal opioids such as oxycodone and fentanyl; (2) Rite Aid pharmacists filled these prescriptions despite clear “red flags” that indicated that the prescriptions were unlawful; (3) Rite Aid ignored evidence that its stores were dispensing unlawful prescriptions, and intentionally deleted internal notes about suspicious prescribers written by concerned pharmacists; (4) by knowingly filling unlawful prescriptions for controlled substances, Rite Aid violated the Controlled Substances Act and, where Rite Aid sought reimbursement from federal healthcare programs, also violated the False Claims Act; (5) as a result, it was at risk of prosecution by federal authorities such as the United States Department of Justice (“DOJ”) and (6) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Rite Aid class action, go to https://rosenlegal.com/submit-form/?case_id=9388 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [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: 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
[email protected]
[email protected]
[email protected]
www.rosenlegal.com

GlobeNewswire Distribution ID 8795342

ROSEN, SKILLED INVESTOR COUNSEL, Encourages Amgen Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action – AMGN

NEW YORK, March 26, 2023 (GLOBE NEWSWIRE) —

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Amgen Inc. (NASDAQ: AMGN) between July 29, 2020 and April 27, 2022, both dates inclusive (the “Class Period”), of the important May 12, 2023.

SO WHAT: If you purchased Amgen 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 Amgen class action, go to https://rosenlegal.com/submit-form/?case_id=13114 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [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 May 12, 2023. 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 handle 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 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 U.S. government claimed Amgen owed more than $3 billion in back taxes for tax years 2010, 2011, and 2012; (2) the U.S. government claimed Amgen owed more than $5 billion in back taxes for tax years 2013, 2014, and 2015; (3) the U.S. government would likely claim Amgen owed materially more to the U.S. government than investors had been led to believe for subsequent tax years for which the Company had used the same profit allocation treatment between its U.S. and Puerto Rico operations; (4) Amgen had not taken sufficient accruals to account for its outstanding tax liabilities; (5) Amgen had failed to comply with ASC 450 and other rules and regulations regarding the preparation of its periodic SEC filings; and (6) Amgen’s refusal to pay taxes claimed by the U.S. government exposed the Company to a substantial risk of severe financial penalties imposed by the IRS. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Amgen class action, go to https://rosenlegal.com/submit-form/?case_id=13114 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [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: 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
[email protected]
[email protected]
[email protected]
www.rosenlegal.com

GlobeNewswire Distribution ID 8795182

ROSEN, A TRUSTED AND LEADING LAW FIRM, Encourages Signature Bank Investors to Secure Counsel Before Important Deadline in Securities Class Action Filed by the Firm – SBNY, SBNYP

NEW YORK, March 26, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Signature Bank (NASDAQ: SBNY, SBNYP) between March 2, 2023 and March 12, 2023, both dates inclusive (the “Class Period”), of the important May 15, 2023 lead plaintiff deadline, in the securities class action commenced by the Firm.

SO WHAT: If you purchased Signature Bank 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 Signature Bank class action, go to https://rosenlegal.com/submit-form/?case_id=12988 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [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 May 15, 2023. 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. 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, throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose, among other things, that: (1) Signature Bank did not have the strong fundamentals that it represented itself as having in the days immediately prior to its takeover, or otherwise took action that left it susceptible to a takeover by the New York Department of Financial Services (“DFS”); (2) as a result, it became a target for regulatory action by the DFS, and (3) 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 Signature Bank class action, go to https://rosenlegal.com/submit-form/?case_id=12988 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [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: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.

Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. 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. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm’s attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors.

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]
[email protected]
[email protected]
www.rosenlegal.com

GlobeNewswire Distribution ID 8795228

EQUITY ALERT: ROSEN, A LONGSTANDING LAW FIRM, Encourages DISH Network Corporation Investors to Secure Counsel Before Important Deadline in Securities Class Action – DISH

NEW YORK, March 26, 2023 (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 DISH Network Corporation (NASDAQ: DISH) between February 22, 2021 and February 27, 2023, both dates 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 May 22, 2023.

SO WHAT: If you purchased DISH 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 DISH class action, go to https://rosenlegal.com/submit-form/?case_id=13586 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [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 May 22, 2023. 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, throughout the Class Period, defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company overstated its operational efficiency and maintained a deficient cybersecurity and information technology infrastructure; (2) as a result of the foregoing, the Company was unable to properly secure customer data, leaving it vulnerable to access by malicious third parties; (3) the foregoing cybersecurity deficiencies also both rendered Dish’s operations susceptible to widespread service outages and hindered the Company’s ability to respond to such outages; and (4) as a result, the Company’s 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 DISH class action, go to https://rosenlegal.com/submit-form/?case_id=13586 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [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: 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
[email protected]
[email protected]
[email protected]
www.rosenlegal.com

GlobeNewswire Distribution ID 8795208

ROSEN, GLOBAL INVESTOR COUNSEL, Encourages Caribou Biosciences, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action – CRBU

NEW YORK, March 26, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Caribou Biosciences, Inc. (NASDAQ: CRBU): (i) pursuant and/or traceable to the offering documents and related prospectus issued in connection with the Company’s 2021 initial public offering conducted on or about July 23, 2021 (the “IPO” or “Offering”); and/or (ii) between July 23, 2021 and December 9, 2022, both dates inclusive (the “Class Period”), of the important April 11, 2023 lead plaintiff deadline.

SO WHAT: If you purchased Caribou 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 Caribou class action, go to https://rosenlegal.com/submit-form/?case_id=11988 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [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 April 11, 2023. 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 handle 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 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 Offering documents were negligently prepared and, as a result, contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading and were not prepared in accordance with the rules and regulations governing their preparation. Additionally, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, the Offering documents and defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) CB-010’s treatment effect was not as durable as defendants had led investors to believe; (2) accordingly, CB-010’s clinical and commercial prospects were overstated; and (3) as a result, the Offering documents and defendants’ public statements throughout the Class Period were materially false and/or misleading and failed to state information required to be stated therein.

To join the Caribou class action, go to https://rosenlegal.com/submit-form/?case_id=11988 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [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: 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
[email protected]
[email protected]
[email protected]
www.rosenlegal.com

GlobeNewswire Distribution ID 8795186

Kerala: A ghost town in the world’s most populated country

As India overtakes China as the world’s most populous nation, there is a crisis of population in parts of the country where fertility has fallen below replacement levels and migration has left behind ghost towns inhabited by the elderly. The BBC’s Soutik Biswas travels to Kumbanad, a town in Kerala state which is grappling with the consequences of an ageing society.

For years, schools in a drowsy town in Kerala have been facing an unusual problem: students are scarce and teachers have to go out looking for them. They also have to pay from their pockets to bring students to the school.

A 150-year-old government upper primary school – which educates students up to the age of 14 – in Kumbanad has 50 students on its rolls, down from about 700 until the late 1980s. Most of them are from poor and underprivileged families who live at the edge of the town. With only seven students, grade seven is the largest class. In 2016, the class had only one student.

Getting enough students to the school is a challenge. Each of its eight teachers fork out 2,800 rupees ($34; £28) every month to pay for auto rickshaws (tuk-tuks) ferrying students from home to school and back. They also go door-to-door looking for pupils. Even the few private schools in the area are sending out teachers to look for students – the biggest one has barely 70 students.

On a muggy afternoon recently at the upper primary school, you could barely hear the hum of lessons and hubbub of squeals that form the soundscape of a busy schoolhouse. Instead, teachers taught a few children in dark, quiet classrooms. Outside, in the sun-baked courtyard ringing the building, a few students wandered around desultorily.

“What can we do? There are no children in this town. I mean, there are barely any people living here,” said Jayadevi R, the principal, wryly.

She is right. Kumbanad lies at the heart of Kerala’s Pathanamthitta district where the population is declining and ageing. This in a country where 47% of people are below the age of 25; and two-thirds were born after India liberalised its economy in the early 1990s.

Kumbanad and half-a-dozen verdant villages around it are home to some 25,000 people. Some 15% of the 11,118 homes here are locked up because the owners have migrated or live with their children abroad, says Asha CJ, the local village council chief. There are 20 schools, but very few students.

One hospital, a state-run clinic, more than 30 diagnostic centres and three old-age homes are pointers to its greying population. More than two dozen banks – including eight branches within less than half a kilometre – vie for remittances from townspeople who live and work all over the world. Around 10% of the $100bn in remittances that India mopped up from Indians living abroad last year came to Kerala.

Kerala – along with neighbouring Tamil Nadu – is some sort of an outlier in teeming India: the decadal rise in population here between 2001 and 2011 – when the last census was conducted – was lowest (4.9%) among states. A new-born in Kerala can expect to live for 75 years against the national average of 69.

Fertility rates in the state have dipped below replacement levels – 1.7 to 1.9 births per woman – for at least 30 years now. Smaller families ensure that children are educated well. This leads to the young migrating quickly within and outside the country for opportunities, leaving their parents at home.

“Education makes children aspire for better jobs and lives, and they migrate,” said Prof KS James of the Mumbai-based International Institute for Population Sciences.

“Their native places are then populated by their elderly parents, many of them living alone.”

Behind the tall metal security gates of her two-storey red tiled home in Kumbaud, Annamma Jacob, 74, has been living alone for as long as she can remember.

Her husband, a mechanical engineer with a state-owned oil company, passed away in the early 1980s. Her 50-year-old son has been living and working in Abu Dhabi for more than two decades. A daughter lives a few miles away, but her husband has been working as a software engineer in Dubai for three decades.

Her next-door neighbours are absent: one locked up her house and took her parents to Bahrain, where she worked as a nurse; the other moved to Dubai and rented their place to an elderly couple.

The neighbourhood is a picture of desolation. Amidst a lush landscape of tapioca, banana, and teak trees, handsome houses with expansive yards stand vacant, their driveways scattered with dried leaves and cars covered in dust. CCTV cameras have taken the place of guard dogs.

In vivid contrast to the cacophony of India’s chaotic and bustling towns, swathes of Kumbanad are surreally deserted and half-frozen in time. It is a town abandoned by many of its inhabitants but it is not languishing in ruins. The deserted houses are painted regularly, almost like they expect people any day. Except, they hardly come.

“It is a very lonely life. I am also not keeping good health,” Ms Jacob said.

Despite her heart disease and arthritis, Ms Jacob has travelled abroad to spend time with her son and grandchildren, and has vacationed in Jordan, Abu Dhabi, Dubai and Israel with her children.

The things strewn around in her carpeted living room tell you something about her links with the world: imported paracetamol tablets, pistachios and cashew nuts, yellow paper flowers stuffed in China-made vases; and a bottle of imported body wash.

I asked her why she built a sprawling 12-room house only to live alone. “Everyone builds big houses here,” she smiled. “It’s about status.”

She spends a lot of time in her backyard farm where she grows tapioca, bananas, ginger, yam and jackfruit. At other times, she meditates and reads newspapers. She has a dog called Diana in a kennel outside.

“Some days, I only talk to Diana. She understands me.”

At her age and with her failing health, it is exhausting to work on the farm. Ms Jacob said she cannot afford a farm hand. A shortage of labour has meant steep work wages for the few who look for work. A daily labourer charges a thousand rupees for a six-hour day looking after the farm. Even Ms Asha’s village council is not able to find and afford people to digitise its records.

A few lanes away, Chacko Mammen, who suffers from heart disease and diabetes, works in his little farm for four hours every day, growing bananas. The 64-year-old worked in Oman for three decades as a salesperson before returning home. He shut a small business after six years because he did not find enough people to work for him. Now, after a lot of effort, he grows and sells about 10kg of bananas every day from his farm. “I just cannot afford a worker,” he said.

Shoring up the work force in an ageing society is always difficult. Even migration of workers from other states doesn’t always work, sometimes because of a distrust of outsiders. Ms Jacob said she did not prefer hiring a migrant.

“I live alone. What if they kill me?” she said.

In this mellow town of elderly people and shuttered homes, there is very little crime.

The police said thefts are rare because people don’t keep much money and valuables at home. They don’t remember the last time a murder took place here.

“It’s all very peaceful. We only get complaints about cheating. Old people being cheated by their relatives or domestic helps who forge their signatures and withdraw their money from banks,” said Sajeesh Kumar V, the chief inspector of the local police station.

A year ago, a relative of an elderly resident embezzled nearly 10m rupees by faking her signature. Last year the police arrested four promoters of a private financial firm which set up shop in the town and promised steep returns on deposits. When it began to default in what looked like a ponzi scheme, some 500 local depositors went to the police.

“That was a big crime for this area,” said Mr Kumar. “Otherwise we are mainly dealing with minor fights among residents – about some noise, or rubbish being dumped outside their home, someone’s wild tree branch encroaching on a neighbour’s farm. Those sort of things.”

The lack of crime means that the police spends most of its time looking after the old. They regularly check in on 160 single and ailing people; and have given away mobile alarms in some of their homes so they can alert neighbours during emergencies. In 2020, the police broke down the door of a house when no one answered the doorbell and found the resident, an elderly woman, lying on the floor.

“We took her to the hospital, where she recovered, One of our jobs is also moving residents to old-age homes. We check on old people, we take them to doctors,” said Mr Kumar.

“Old age is the only problem here,” said Father Thomas John, who runs a geriatric centre in Kumbanad.

The town has three wheelchair accessible old-age homes with open spaces, wide doorways and hallways. The Alexander Marthoma Memorial Geriatric Centre, a five-storey building alongside a 150-bed hospital, takes care of more than 100 locals, aged between 85 and 101. Almost all are bedridden, and their families pay 50,000 rupees every month for their care. Sometimes the children come and stay with them at the 16-year-old centre.

“Most of the children live abroad and have no option but to move the very old parents to old-age homes,” said Father John.

Not far away, the 75-year-old Dharmagiri Old Age Home houses 60 locals, all above 60 years of age. Last year there were 31 new admissions. There are separate buildings for men and women. The waiting list is growing: a new 30-room building that can accommodate 60 elders is coming up.

“Most of the women who stay with us are victims of cheating. Some of them have been abandoned by their families,” said Father KS Mathews, who runs the home.

The ailing elderly, old-age homes, labour shortages, migration of the young, declining population, ghost towns.

“This is a story of any demographic change. This will be the story of the whole of India, finally,” said Prof James.

Source: BBC

Rupee Declines Against US Dollar, Other Currencies Despite Import Relief

The Pakistani rupee (PKR) reversed gains against the US Dollar and posted losses during intraday trade today.

The Pakistani rupee was initially green during the early hours of intraday trade today with the interbank rate gaining Rs. 4 to reach 279.8 by 11 AM. By 11:25 AM, it went as low as 279.3 before falling later.

At close, the PKR depreciated by 0.13 percent to close at 283.58 after dropping 38 paisas during intraday trade today.

The rupee reported losses after a long break today despite expectations of improved fundamentals following the authorities’ decision to reopen imports of the full range of goods by removing restrictions imposed on the import of 826 items from time to time between 2017 and 2022. According to a circular of the State Bank of Pakistan (SBP), the bank has removed the condition of depositing up to 100 percent payment in advance for the import of hundreds of items.

The rupee is still down over Rs. 51 since its record-breaking single-day drop of Rs. 25 in the last week of January and has since then played in mostly red due to immense economic pressure. As per exchange rate movements witnessed today, the PKR has lost over 38 paisas today, noting a fresh drop and falling near last week’s low of 284.03.

Money changers say today’s losses come amid uncertainty due to a stalemate between the International Monetary Fund (IMF) and local authorities. However, due to the Holy Month of Ramazan, cash counters are slowly adjusting to the new business hours and few gains are expected this week with the relaxation of import regulations to help improve yield hunting for dollar hoarders and traders alike.

Linking the State Bank of Pakistan’s decision to unban the import of different items with the agenda of the IMF was one more step in the direction of reviving the lender’s Extended Fund Facility (EFF).

Technically, demand for US dollars in the interbank market should fall, however, because of the small foreign exchange reserves that we hold, it is a small bet but with great returns.

The PKR was stable against some of the other major currencies in the interbank market today. It gained four paisas against the Euro (EUR), 26 paisas against the Pound Sterling (GBP), and 94 paisas against the Australian Dollar (AUD).

Conversely, it lost one paisa against the Canadian Dollar (CAD), nine paisas against the Saudi Riyal (SAR), and 10 paisas against the UAE Dirham (AED) in today’s interbank currency market.

Source: Pro Pakistani