Law Offices of Howard G. Smith announces an investigation on behalf of New Fortress Energy Inc. (“New Fortress” or the “Company”) (NASDAQ: NFE) investors concerning the Company’s possible violations of federal securities laws.
On August 9, 2024, New Fortress released its second quarter 2024 financial results, revealing adjusted EBITDA well below the Company’s prior expectations. Further, the Company lowered its guidance for the remainder of 2024, attributing disappointing results to delays in placing its FLNG 1 project into service, which cost $150 million per quarter in lost operating margin.
On this news, New Fortress’ stock price fell $4.02, or 23.6%, to close at $13.00 per share on August 9, 2024, thereby injuring investors.
If you purchased New Fortress securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847 or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240919276545/en/