July 22, 2024

2023-09-02 | NDAQ:HUBC | Press Release

2023-09-02 | NDAQ:HUBC | Press Release

NEW YORK, Sept. 2, 2023 /PRNewswire/ —

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WHY: Rosen Law Agency, a global investor rights regulation firm, announces the filing of a course motion lawsuit on behalf of purchasers of typical stock of HUB Cyber Stability Ltd. (NASDAQ: HUBC, HUBCZ, HUBCW) f/k/a Hub Cyber Safety (Israel) Ltd. (“Legacy HUB”) pursuant and/or traceable: (a) by way of Legacy HUB’s merger (the “Merger”) with Mount Rainier Acquisition Corp. (“Mount Rainier”) (b) to the registration assertion and proxy assertion/prospectus (collectively, the “Featuring Documents”) issued in connection with the Merger and/or traceable to the registration assertion and proxy assertion/prospectus (collectively, the “Supplying Paperwork”) issued in relationship with the Merger and/or (c) between March 23, 2022 and June 13, 2023, both of those dates inclusive (the “Course Period of time”). A class action lawsuit has currently been filed. If you want to serve as direct plaintiff, you must transfer the Court docket no afterwards than Oct 16, 2023.

SO WHAT: If you obtained HUB Cyber securities throughout the Course Period you may be entitled to payment with no payment of any out of pocket costs or costs by way of a contingency charge arrangement.

WHAT TO DO Subsequent: To be part of the HUB Cyber course action, go to https://rosenlegal.com/submit-type/?scenario_id=18848 or connect with Phillip Kim, Esq. toll-cost-free at 866-767-3653 or e mail [email protected] or [email protected] for data on the class motion. A course action lawsuit has already been filed. If you wish to provide as guide plaintiff, you should shift the Court docket no later on than October 16, 2023. A direct plaintiff is a consultant party performing on behalf of other class members in directing the litigation.

WHY ROSEN Law: We stimulate buyers to choose experienced counsel with a observe report of success in management roles. Typically, companies issuing notices do not have comparable working experience, resources or any meaningful peer recognition. Be smart in deciding on counsel. The Rosen Legislation Business signifies buyers through the globe, concentrating its exercise in securities course actions and shareholder by-product litigation. Rosen Law Agency has reached the major ever securities class motion settlement against a Chinese Firm. Rosen Law Business was Ranked No. 1 by ISS Securities Course Motion Services for range of securities course motion settlements in 2017. The business has been rated in the top rated 4 every single yr considering that 2013 and has recovered hundreds of hundreds of thousands of dollars for investors. In 2019 on your own the firm secured about $438 million for investors. In 2020, founding husband or wife Laurence Rosen was named by regulation360 as a Titan of Plaintiffs’ Bar. Quite a few of the firm’s attorneys have been identified by Lawdragon and Tremendous Attorneys.

Details OF THE Case: In accordance to the lawsuit, the Presenting Paperwork and defendants manufactured phony and/or misleading statements and/or unsuccessful to disclose that: (1) PIPE financing in connection with the Merger was not fully commited (2) HUB would not be led by Legacy HUB’s then-existing administration staff, such as defendant Moshe (3) the Business experienced downplayed the total scope and severity of deficiencies in its compliance controls and methods, together with its disclosure controls and treatments and inside controls about money reporting (4) the Enterprise overstated its remediation of, and/or capability to remediate, the foregoing deficiencies (5) accordingly, the Corporation experienced hundreds of 1000’s of bucks of unexplained expenses incurred, and/or funds misappropriated or usually fraudulently acquired, by a senior officer of the Corporation (6) the foregoing amplified the hazard that the Business would be not able to well timed file a single or a lot more of its periodic money studies with the SEC, as necessary by the NASDAQ’s listing rules (7) as a outcome, the Company was also at an greater chance of becoming delisted from the NASDAQ (8) all the foregoing, once revealed, was most likely to negatively affect the Company’s organization, fiscal results, and reputation and (9) as a final result, the Providing Paperwork and Defendants’ general public statements all through the Course Period of time ended up materially bogus and/or deceptive and unsuccessful to condition information needed to be stated therein. When the real information entered the industry, the lawsuit claims that traders experienced damages.

To be part of the HUB Cyber course action, go to https://rosenlegal.com/submit-variety/?circumstance_id=18848 or connect with Phillip Kim, Esq. toll-absolutely free at 866-767-3653 or e-mail [email protected] or [email protected] for information and facts on the class motion.

No Class Has Been Licensed. Until finally a class is certified, you are not represented by counsel unless you retain one. You could decide on counsel of your option. You may perhaps also continue to be an absent class member and do absolutely nothing at this stage. An investor’s skill to share in any possible potential restoration is not dependent on serving as guide plaintiff.

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Lawyer Promotion. Prior final results do not assure a identical end result.

Make contact with Details:

Laurence Rosen, Esq.

Phillip Kim, Esq.

The Rosen Legislation Agency, P.A.

275 Madison Avenue, 40th Flooring

New York, NY 10016

Tel: (212) 686-1060

Toll Cost-free: (866) 767-3653

Fax: (212) 202-3827

[email protected]

[email protected]

[email protected]

www.rosenlegal.com

Cision Perspective initial content material to download multimedia:https://www.prnewswire.com/information-releases/rosen-qualified-investor-counsel-encourages-hub-cyber-safety-ltd-fka-hub-cyber-stability-israel-ltd-buyers-with-losses-to-protected-counsel-before-significant-deadline-in-securities-class-motion–hubc-hubcz-hubcw-301916313.html

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