WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Li Auto Inc. (NASDAQ: LI) between February 26, 2024 and March 20, 2024, both dates inclusive (the “Class Period”), of the important July 9, 2024 lead plaintiff deadline.

SO WHAT: If you purchased Li Auto 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 Li Auto class action, go to https://rosenlegal.com/submit-form/?case_id=11199 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com 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 9, 2024. 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) Li Auto had overstated the demand for its vehicles and the efficacy of its operating strategy in launching the Li MEGA, Li Auto’s first battery electric vehicle model; (2) accordingly, Li Auto was unlikely to meet its Q1 2024 vehicle deliveries estimate; (3) the foregoing, once revealed, was likely to have a material negative impact on Li Auto’s financial condition; and (4) as a result, Li Auto’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.

MetroTrans East Africa has invested Sh 389 million in a fleet of new FUSO buses aimed at meeting the door to door transport demand in the Kenyan Market.

The investment is a lease partnership between National Bank of Kenya (NBK) and Simba Corporation as they seek to meet demand for public transport which has continued to rise over the years as population increases.

In Nairobi there are currently about 3 million residents and a daytime population of 4.5 million people who need to commute through the city.

Speaking during the official handover of the first batch of 25 FUSO Canter buses by Simba Corporation, MetroTrans Chief Executive Officer Oscar Rosanna said the move is a response to increased demand in their existing routes and to also serve their customers better by offering cashless payments enabled by technology company SWVL that allows users to make and track bookings through the SWVL app.

In 2020, MetroTrans partnered with SWVL, a logistics tech company that allows users to make and track bookings through the SWVL app.

He said the logistics firm is expecting another 55 buses by the end of the year that will be used to gain footing in older routes and they seek to join new routes.

“This is an opportunity to widen our reach and offer better transportation solutions to our clients. These buses will help us add value to our clients,” he added.

Simba Corp’s Product Manager for Pick Ups & Buses, Mehul Sachdev said FUSO has accumulated over 50 years’ experience in the commercial vehicles market which has led to the brand offering the best vehicle for all buses and trucks segments – light, medium or heavy duty.

“We are proud to be part of this partnership with our FUSO Canter buses. On the road, the Canter bus drives high and proud. The increased ride height provides the benefit of great forward and peripheral vision. This bus truly excels in rough terrain as it maneuvers with ease through inclines and valleys synonymous with Kenyan terrain,” Sachdev noted.

On his part, Naresh Leekh MD Simba Corp Motors, said Fuso is geared towards providing comfort. “When it comes to buses, comfort is key when moving from point A to B. With this partnership we offer all passengers comfort in travelling, with enough leg room, aeration, seatbelts, better driving comfort for the driver,” he said.

“Simba Corp has invested in fully-fledged after-sales centres across the country and are on hand to provide genuine parts for all Fuso trucks and buses. In addition, we have continuous driver training sessions to engage drivers on the buses capabilities for maximum efficiency, ” he added.

Speaking during the event, NBK Retail Banking Director Carol Rutto noted that availing of the buses to MetroTrans Limited lends credence to the desire by the bank to support key economic enablers especially in the transport industry.

“We are delighted to finally handover the buses that will ultimately transform the travel experience of commuters along the routes that Metro Trans operates. It is also a testament to our desire to continue availing convenient products to our clients across various market segments,” Rutto said.