Saturday, May 23

Zimbabwe Government Warned For Using COVID-19 To Restrict Citizen Rights

President Emmerson Mnangagwa’s ruling party has dismissed as “rubbish” a statement by Western diplomats warning Zimbabwe’s government not to use the COVID-19 pandemic as a pretext to stifle citizens' rights.

The statement was delivered while more than a dozen citizens are in hiding for fear of persecution or prosecution for organizing an anti-government protest.

Seven countries, including the U.S., have urged Mnangagwa to keep the inauguration pledge he made in 2018 to respect human rights. Western diplomats joined forces in a statement saying their countries would continue to assist Zimbabwe in addressing the humanitarian crisis caused by recurring droughts and the COVID-19 pandemic.

“But COVID-19 must not be used as an excuse to restrict citizens’ fundamental freedoms. Freedom of the press, of opinion, of expression, and of assembly are all universally recognized human rights and are guaranteed by the Zimbabwean constitution. The government also has a responsibility to investigate and prosecute those responsible for violating human rights,” said the seven embassies in their diplomatic message. 

Zimbabwe’s Information Minister Monica Mutsvangwa said Saturday the government would not comment on the group's statement by the U.S., Germany, Poland, Britain, Canada, Norway and the Netherlands.

FILE - Tafadzwa Mugwadi, spokesman for the ruling Zanu PF party, seen here July 21, 2020, in Harare, dismissed concerns by Western diplomats as “rubbish,” saying they had no right to lecture Zimbabwe about human rights. (Columbus Mavhunga/VOA)

Tafadzwa Mugwadi, a spokesman for Zimbabwe’s ruling Zanu-PF party, dismissed the statement by Western diplomats.

“This is just a piece of rubbish. Nothing new except the usual rhetoric from culpable players whose hand has always been visible as far as disturbances in this country are concerned. Under what circumstances or basis do they have to instruct the government or people of Zimbabwe to stop from blaming them? How are they immune when they are equally blaming the government? They are blaming a government on whose neck they imposed these illegal sanctions. It’s just a bunch of nonsense,” Mugwadi said.

Zimbabwe’s political opposition and rights groups say Mnangagwa is moving away from his promise not to follow the playbook of his predecessor, long-time leader, the late Robert Mugabe, whose 37-year rule was littered with human rights abuses.

The head of Human Rights Watch in southern Africa, Dewa Mavhinga, says the government must investigate the claims instead of dismissing them.

Dewa Mavhinga, the southern Africa Director at Human Rights Watch, seen here Aug. 29, 2020, in Harare, says the Zimbabwe government must investigate claims of rights abuses by state agents. (Columbus Mavhunga/VOA)

“This is very important that the Zimbabwe government demonstrates that it respects human rights. Without this demonstration for respect for human rights, all efforts to revive the economy, for international re-engagement, will be wasted because no one wants to do business with a country that does not respect rights, a country that brutalizes its own citizens, a country that looks the other way when there are obvious cases of abductions and torture of citizens by state agents,” Mavhinga said.

A hashtag #ZimbabweanLivesMatter is trending on social media, but the government insists there is no crisis.

Rights groups and the opposition say the government is looking for a number of pro-democracy activists who are in hiding, saying they fear being arrested for organizing an anti-government protest, which security forces thwarted in July.

Journalist Hopewell Chin’ono and opposition leaders Jacob Ngaruvhume and Job Sikhala are in prison on charges of stoking violence ahead of the march against poverty and corruption, which was to take place July 31. 

Earlier this month, South Africa, which is the current chair of the African Union, sent envoys to engage with both the government of Zimbabwe and relevant stakeholders, to “identify possible ways in which South Africa can assist Zimbabwe.” However, they left after meeting only with President Mnangagwa.

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Securities Class Action Lawsuit: Investor Rights After Stock Losses

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Securities Class Action Lawsuit: Investor Rights After Stock Losses

Not every stock loss creates a lawsuit. Markets go up and down. Companies miss earnings. Investors take risks.

But when investors lose money because a company allegedly misled the market, hid important information, or made false statements, a securities class action lawsuit may follow.

These cases can help shareholders seek recovery after alleged securities fraud.

What Is a Securities Class Action?

A securities class action is a lawsuit brought on behalf of investors who bought or held securities during a specific period and suffered losses tied to alleged misconduct.

The claims may involve:

False financial statements
Misleading public disclosures
Hidden risks
Accounting fraud
Insider misconduct
Undisclosed investigations
Inflated stock price
Merger-related misstatements
Failure to disclose material information

The SEC oversees securities exchanges, brokers, dealers, investment advisers, and mutual funds to promote fair dealing and disclosure of important market information.

Who Can Be Included?

A securities class may include investors who purchased a company’s stock, bonds, or other securities during a defined class period.

Eligibility often depends on:

Security purchased
Purchase date
Sale date
Loss amount
Class period
Type of claim
Court-approved settlement terms

Investors should keep trading records.

What Is a Class Period?

The class period is the time during which alleged misconduct affected the security price.

For example, investors who bought stock between certain dates may be included if they suffered losses after corrective information was disclosed.

The class period is critical because it determines who may be eligible.

What Must Investors Prove?

Securities class actions can be legally complex. Plaintiffs may need to show:

A false or misleading statement
A material omission
Scienter, or wrongful state of mind, in some cases
Reliance
Loss causation
Damages

These cases often require expert economic analysis.

Common Triggers for Securities Class Actions

Securities lawsuits may follow:

Stock price drops
Restatements
SEC investigations
Missed revenue disclosures
Product safety revelations
Executive misconduct
Accounting problems
Cybersecurity failures
Regulatory actions
Merger disputes
Bankruptcy-related disclosures

A stock drop alone is usually not enough. There must be a legal theory connecting the loss to alleged wrongdoing.

Lead Plaintiff Deadline

Securities class actions often have lead plaintiff deadlines.

The lead plaintiff may help represent the class and work with counsel. Investors with larger losses may seek appointment as lead plaintiff.

If you receive notice of a securities lawsuit, pay attention to deadlines.

What Can Investors Recover?

A settlement may provide cash payments to investors who file valid claims.

Payment amounts may depend on:

Number of shares
Purchase price
Sale price
Recognized loss
Total settlement fund
Number of claims
Court-approved plan of allocation

Investors often need brokerage statements to prove transactions.

Why Securities Class Actions Are Difficult

These cases are heavily litigated. Defendants may argue:

Statements were not false
Risks were disclosed
Losses were caused by market forces
The company lacked wrongful intent
Investors cannot prove reliance
Class certification requirements are not met

Recent appellate decisions show that certification disputes in securities class actions can be highly technical and closely scrutinized.

What Investors Should Do

If you think you may be part of a securities class action:

Save brokerage records
Track purchase and sale dates
Save notices
Review class period
File claim forms on time
Avoid fake recovery scams
Speak with an attorney if losses are large

Final Thoughts

A securities class action lawsuit may give investors a way to seek recovery after alleged corporate misconduct.

But these cases are complex. Stock losses alone are not enough. Evidence, timing, disclosures, and expert analysis all matter.

If you lost significant money after alleged fraud or misleading statements, speak with a qualified securities class action attorney.