Top Stories | Rupee at new low, PM Modi meets economists, Tata Capital IPO, Delhi winter and moreRobbins LLP reminds investors that a class action was filed on behalf of persons and entities that purchased or otherwise acquired Symbotic Inc. (NASDAQ: SYM) securities between February 8, 2024 and November 26, 2024. Symbotic is an automation technology company that engages in the production of a robotics and automation-based product movement Technology platform. For more information, submit a form , email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003. The Allegations: Robbins LLP is Investigating Allegations that Symbotic Inc. (SYM) Failed to Disclose Material Weaknesses in its Internal Control Over Financial Reporting According to the complaint, on November 27, 2024, the Company filed with the SEC a Form 8-K/A, in which the Company revealed it had "identified errors in its revenue recognition related to cost overruns on certain deployments that will not be billable, which additionally impacted system revenue, income (loss) before income tax, net income (loss) and gross margin recognized in the second, third, and fourth quarters of fiscal year 2024." Further, the Company indicated that its previously issued financial statements for the fourth quarter and fiscal year 2024 and the Company's supplemental presentation, should no longer be relied upon. On this news, the price of Symbotic stock fell over 35%, to close at $24 per share on November 27, 2024. What Now : You may be eligible to participate in the class action against Symbotic Inc. Shareholders who want to serve as lead plaintiff for the class must submit their application to the court by February 3, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here . All representation is on a contingency fee basis. Shareholders pay no fees or expenses. About Robbins LLP : Some law firms issuing releases about this matter do not actually litigate securities class actions; Robbins LLP does. A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. Since our inception, we have obtained over $1 billion for shareholders. To be notified if a class action against Symbotic Inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today. Attorney Advertising. Past results do not guarantee a similar outcome. A photo accompanying this announcement is available at MENAFN24122024004107003653ID1109028414 Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.Is this buy-rated ASX 300 tech stock a future star?
This week, President authorized Ukraine . It’s an overdue, relatively small escalation after Russia’s bigger escalations and relentless attacks, letting Ukraine partially take the gloves off. Ukrainian President officially requested this in May, and presumably asked in private before that. It will help Ukraine hinder Russia’s war machine by striking ammunition depots, weapons manufacturing, airfields and other military targets. The apparent cause is the U.S. election. President-elect Donald Trump has , and of Ukraine in February 2022 by gushingly calling it “savvy” and “genius.” In subsequent years, Trump, his incoming and top surrogate/donor/adviser Elon Musk have all advocated a that amounts to “give Putin what he wants.” While Biden's lifting restrictions on Ukraine is probably too late to make a big difference, it could cause some disruption to Russia’s war effort and improve Ukraine’s position before Trump tries to force them into a Russia-friendly deal. Knowing that the United States is about to have a pro-Putin president makes Biden’s caution look awful in hindsight, but it looked excessive at the time as well. Caution made sense early in the war, since we didn’t have a good read on Russian capabilities. And keeping NATO forces out of direct combat with Russia still makes sense, since that could trigger an escalatory spiral that spins out of control, or at least undermine political support for Ukraine in NATO countries. But in early 2024, after two years of war, it was apparent Russia was doing everything it could think of to defeat Ukraine, and wasn’t keeping a large military capacity in reserve. Except, of course, for nuclear weapons, but those are checked by mutually assured destruction and the global nuclear taboo. Russia fears World War III, just like everyone else, as well as alienating the large countries it still gets along with, namely China and India. Russia has never attacked weapons shipments on their way to Ukraine, showing that no matter their rhetoric, their actions respect NATO deterrence. By contrast, Israel has bombed Hezbollah-bound weapons shipments inside Syria for years. But Russia bluffs a lot. They annexed occupied parts of Ukraine, and declared that any counterattack would cause nuclear war. Ukrainian forces kept coming, took some territory back, and Russia did little in response. They convinced Elon Musk that a Ukrainian attack on Russian ships off the coast of Crimea would cause WWIII, and Musk cut off Starlink internet services to in progress. Shortly after, Ukraine hit Russian ships near Crimea without using Starlink, and Russia did little in response. Ukraine has used U.S.-provided missiles to attack Russian military targets in occupied parts of Ukraine. They’ve used Ukrainian-made drones to attack inside Russia, including an airbase . In response, Russia didn’t do anything it wasn’t already doing. There is a possibility that longer-range strikes with U.S. missiles would require U.S. satellites for targeting, but since Russia didn’t offer a response to U.S. missile strikes on Russian forces in Ukraine or Ukrainian strikes inside Russia, it’s unlikely that Ukrainian strikes with U.S. missiles inside Russia represents such a red line that they’d risk everything over it. As a matter of international law, Ukraine using U.S. missiles to attack inside Russia is cut-and-dry. Russia started the war without provocation, and could stop at any time but chooses to continue. As the clear aggressor, Russia is in material breach of the U.N. charter, and under the right of self-defense, Ukraine is legally allowed to fire at Russian military targets, including inside Russia. And Russia is responsible for a much bigger escalation this year, with thousands of . Russia had already been using and , much as Ukraine is using weapons from NATO countries. But the North Korean troops are the only foreign state forces to directly intervene. After Biden’s announcement and Ukraine’s first use, Russia launched a new ballistic missile at the densely populated Ukrainian city of Dnipro, which Putin claimed was in retaliation for Ukraine shooting American (and British) missiles into Russia. It at least three people and damaged some buildings. The Ukrainians are unsurprisingly shrugging, since Russia shoots missiles, kamikaze drones and glide bombs at them every night, usually causing more damage. Two days before the ballistic missile attack, killed 12 civilians and injured 13 more. So while the missile technically represents an escalation, it’s mostly more of the same: attacking Ukrainians in an attempt to terrorize them into submission. For mourners, the weapon Russia used to kill their loved ones doesn’t matter. And if Russia could use these weapons to defeat the Ukrainian military and enable Russian ground forces to overrun the country, they would. The new weapon is an intermediate range (about 620 miles to 1,860 miles) ballistic missile called an Oreshnik, capable of carrying nuclear warheads (though this one wasn’t), and was at least as much nuclear saber-rattling against the West as an attack on Ukraine. For that reason, Russia probably would’ve used it anyway at some point, finding some excuse. There’s no intimidation factor from a new weapon if you don’t show it off. A day after the launch, that Russia will mass produce the Oreshnik, and develop a “whole line” of similar missiles. That’s mostly a bluff, at least in the short term, since Russian defense manufacturing is already strained trying to feed the war in Ukraine, but it does represent yet another nuclear threat. The response has to be a hard no. The U.S. has nuclear-armed ballistic missiles, too, and Russia knows it. Giving in to these sort of threats shows that nuclear extortion works, encouraging more. If the West bends now, and later tries to take a stand, that raises the risk of an accidental spiral, because the earlier acquiescence could make Russia think that if it goes closer to the brink, the West will back down again. Calling the bluff is nerve-wracking, but a necessary strategic choice. Russia’s loud rhetoric — but relatively small action in response to Ukraine’s attack inside Russia with U.S. missiles — suggests that this red line was always fake. The ability never would’ve handed Ukraine victory on its own, but it would have improved their military position. If Trump cuts U.S. aid to Ukraine and pushes them to surrender to Russia as expected, Biden’s hesitancy to authorize it will go down in history as a painful what-if.
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The current issues plaguing the Raptors defence should be addressed Sunday with the expected return of centre Jakob Poeltl. After missing four games with strained groin muscles, Poeltl practised fully on Saturday and, barring any overnight issues popping up, will play against the Atlanta Hawks as Toronto tries to snap a season-worst nine-game losing streak. Poeltl’s return cannot come quickly enough for the foundering Raptors. Toronto was scorched defensively in its last two losses: giving up a franchise-worst 155 points in Memphis on Thursday, after being burned for 139 on almost 60 per cent shooting by the Knicks in New York on Monday. The team dinners are nice and the summers in Spain and Florida are important, but there’s another element at play that connects these Raptors. The team dinners are nice and the summers in Spain and Florida are important, but there’s another element at play that connects these Raptors. It gave the Raptors zero chance of scoring their way to wins, and the presence of the seven-foot veteran Poeltl should at least let them be more competitive. “It’s two things that really stood out, is guarding the ball and rebounding,” coach Darko Rajakovic said Saturday. “And ... you know me, that I’m not the guy that will look for excuses and who we have, who we don’t have. But it was obvious that we really lacked the rebounding piece, and Jak is a big part of that.” Poeltl is central to everything the Raptors do, at both ends of the court. He’s their best rebounder, toughest interior defender and the fulcrum of much of the offence. Things just don’t look or feel right if he’s not in his regular spot. Fans see it, teammates see it, coaches see it. He sees it. Toronto coach and his staff have done well by helping their young players develop their individual skills. Now they need to make the group better Toronto coach and his staff have done well by helping their young players develop their individual skills. Now they need to make the group better “We’re playing so much through our fives, and we kind of developed this system — not only on defence but on offence — of how we move as a unit,” Poeltl said. “If you take a piece out of that, then it’s going to be difficult because you don’t have the reps in different lineups out there. “Obviously, stuff that I supply for the team, like rebounding, is stuff we’re missing, but it’s also unusual lineups that we’re not used to. People having to take on different roles that they’re not used to.” The Raptors are fortunate that Poeltl will only have missed four games, giving how seriously he appeared to be injured when he slipped on a wet spot on the court during a Dec. 16 loss to Chicago. “Immediately there was a lot of pain, and I thought it was going to be really bad, but pretty quickly I got up and got moving and it felt almost fine; I wanted to keep playing,” he said. “Then they took me in the back, checked it out, and as the adrenalin went away the pain started to come back. But I wouldn’t say at any time did I think it was terrible ... the after imaging and stuff, they told me it should be fine pretty soon.” Bruce Brown, meanwhile, is expected to play for the first time this season after summer knee surgery, and will provide another veteran who might settle the Raptors when games start slipping away. He said Saturday that he is finally trusting his surgically repaired knee, and playing more instinctively than carefully. Both he and Poeltl will be watched carefully, Rajakovic said. Raptors Head Coach Darko Rajaković has been ejected from the game. 👀 pic.twitter.com/D8yI8i74d4 The coach will also be back on the bench after an emotional explosion that earned him an ejection in Memphis. Rajakovic said he was irate at the officials when he charged the court to confront them, but was also playing to his players. “I will always be there for my team; I will always stand up for my guys,” he said. “At that moment as well, I felt that my team (needed) to wake up, and I wanted to send the message that we need to fight all the way to the last minute.”
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SEOUL, South Korea (AP) — The president of South Korea early Wednesday lifted the martial law he imposed on the country hours earlier, bending to political pressure after a tense night in which troops surrounded parliament and lawmakers voted to reject military rule. President Yoon Suk Yeol, who appeared likely to be impeached over his actions, imposed martial law late Tuesday out of frustration with the opposition, vowing to eliminate “anti-state” forces as he struggles against opponents who control parliament and that he accuses of sympathizing with communist North Korea. Police and military personnel were seen leaving the grounds of parliament following the bipartisan vote to overrule the president, and the declaration was formally lifted around 4:30 a.m. during a Cabinet meeting. Parliament acted swiftly after martial law was imposed, with National Assembly Speaker Woo Won Shik declaring that the law was “invalid” and that lawmakers would “protect democracy with the people.” In all, martial law was in effect for about six hours. The president’s surprising move harkened back to an era of authoritarian leaders that the country has not seen since the 1980s, and it was immediately denounced by the opposition and the leader of Yoon’s own conservative party. Lee Jae-myung , leader of the liberal Democratic Party, which holds the majority in the 300-seat parliament, said the party’s lawmakers would remain in the Assembly’s main hall until Yoon formally lifted his order. Woo applauded how troops quickly left the Assembly after the vote. “Even with our unfortunate memories of military coups, our citizens have surely observed the events of today and saw the maturity of our military,” Woo said. While announcing his plan to lift martial law, Yoon continued to criticize parliament’s attempts to impeach key government officials and senior prosecutors. He said lawmakers had engaged in “unscrupulous acts of legislative and budgetary manipulation that are paralyzing the functions of the state.” Jo Seung-lae, a Democratic lawmaker, claimed that security camera footage following Yoon’s declaration showed that troops moved in a way that suggested they were trying to arrest Lee, Woo and even Han Dong-hoon, the leader of Yoon’s People Power Party. Officials from Yoon’s office and the Defense Ministry did not respond to requests for comment early Wednesday. Seemingly hundreds of protesters gathered in front of the Assembly, waving banners and calling for Yoon’s impeachment. Some protesters scuffled with troops ahead of the lawmakers’ vote, but there were no immediate reports of injuries or major property damage. At least one window was broken as troops attempted to enter the Assembly building. One woman tried unsuccessfully to pull a rifle away from one of the soldiers, while shouting “Aren’t you embarrassed?” Under South Korea’s constitution, the president can declare martial law during “wartime, war-like situations or other comparable national emergency states” that require the use of military force to maintain peace and order. It was questionable whether South Korea is currently in such a state. When martial law is declared, “special measures” can be employed to restrict freedom of press, freedom of assembly and other rights, as well as the power of courts. The constitution also states that the president must oblige when the National Assembly demands the lifting of martial law with a majority vote. Following Yoon’s announcement of martial law, South Korea’s military proclaimed that parliament and other political gatherings that could cause “social confusion” would be suspended, South Korea’s Yonhap news agency said. The military said anyone who violated the decree could be arrested without a warrant. In Washington, the White House said the U.S. was “seriously concerned” by the events in Seoul. A spokesperson for the National Security Council said President Joe Biden’s administration was not notified in advance of the martial law announcement and was in contact with the South Korean government. Pentagon spokesman Maj. Gen. Pat Ryder said there was no effect on the more than 27,000 U.S. service members based in South Korea. The South Korean military also said that the country’s striking doctors should return to work within 48 hours, Yonhap said. Thousands of doctors have been striking for months over government plans to expand the number of students at medical schools. Soon after martial law was declared, the parliament speaker called on his YouTube channel for all lawmakers to gather at the National Assembly. He urged military and law enforcement personnel to “remain calm and hold their positions. All 190 lawmakers who participated in the vote supported the lifting of martial law. At one point, television footage showed police officers blocking the entrance of the National Assembly and helmeted soldiers carrying rifles in front of the building. An Associated Press photographer saw at least three helicopters, likely from the military, that landed inside the Assembly grounds, while two or three helicopters circled above the site. The leader of Yoon’s conservative party called the decision to impose martial law “wrong.” Lee, who narrowly lost to Yoon in the 2022 presidential election, said Yoon’s announcement was “illegal and unconstitutional.” Yoon said during a televised speech that martial law would help “rebuild and protect” the country from “falling into the depths of national ruin.” He said he would “eradicate pro-North Korean forces and protect the constitutional democratic order.” “I will eliminate anti-state forces as quickly as possible and normalize the country,” he said, while asking the people to believe in him and tolerate “some inconveniences.” Yoon — whose approval rating dipped in recent months — has struggled to push his agenda against an opposition-controlled parliament since taking office in 2022. His party has been locked in an impasse with the liberal opposition over next year’s budget bill. The opposition has also attempted to impeach three top prosecutors, including the chief of the central Seoul prosecutors’ office, in what the conservatives have called a vendetta against their criminal investigations of Lee, who has been seen as the favorite for the next presidential election in 2027 in opinion polls. During his televised announcement, Yoon also described the opposition as “shameless pro-North Korean anti-state forces who are plundering the freedom and happiness of our citizens.” He did not elaborate. Yoon has taken a hard line on North Korea over its nuclear ambitions, departing from the policies of his liberal predecessor, Moon Jae-in, who pursued inter-Korean engagement. Yoon has also dismissed calls for independent investigations into scandals involving his wife and top officials, drawing quick, strong rebukes from his political rivals. Yoon’s move was the first declaration of martial law since the country’s democratization in 1987. The country’s last previous martial law was in October 1979, following the assassination of former military dictator Park Chung-hee. Sydney Seiler, Korean chair at the Center for Strategic and International Studies, argued that the move was symbolic for Yoon to express his frustration with the opposition-controlled parliament. “He has nothing to lose,” said Seiler, comparing Yoon’s move to the Hail Mary pass in American football, with a slim chance of success. Now Yoon faces likely impeachment, a scenario that was also possible before he made the bold move, Seiler said. Natalia Slavney, research analyst at the Stimson Center’s 38 North website that focuses on Korean affairs, said Yoon’s imposition of martial law was “a serious backslide of democracy" that followed a “worrying trend of abuse” since he took office in 2022. South Korea “has a robust history of political pluralism and is no stranger to mass protests and swift impeachments,” Slavney said, citing the example of former President Park Geun-hye, the country’s first female president, who was ousted from office and imprisoned for bribery and other crimes in 2017 . ___ Associated Press writers Hyung-jin Kim in Seoul, South Korea, and Matt Lee, Didi Tang and Tara Copp in Washington contributed to this report. Kim Tong-hyung, The Associated Press