Rosen Law Firm, a global investor rights law firm, announces that a shareholder filed a class action on behalf of all purchasers of securities of New Fortress Energy Inc. (NASDAQ: NFE) between February 29, 2024 and August 8, 2024. New Fortress describes itself as a “company that owns and operates natural gas.”
For more information, submit a form, email attorney Phillip Kim, or give us a call at 866-767-3653.
The Allegations: Rosen Law Firm is Investigating the Allegations that New Fortress Energy Inc. (NASDAQ: NFE) Misled Investors Regarding its Business Operations.
According to the lawsuit, during the Class Period, defendants created the false impression that they possessed reliable information pertaining to New Fortress’ projected revenue outlook and anticipated growth while simultaneously minimizing the risk involved in New Fortress’ plan to have its Fast Liquefied Natural Gas (“LNG”) projects fully operational and to increase business growth globally. In reality, New Fortress’ Fast LNG projects failed to fulfill New Fortress’ public statements that its FLNG 1 project would be in service by March 2024. Even following the announcement that these delays were costing New Fortress upwards of $150 million per quarter, defendants continued to tout the speed at which New Fortress was building facilities. Defendants misled investors by providing the public with materially flawed statements of confidence and growth projections that did not account for these variables. When the true details entered the market, the lawsuit claims that investors suffered damages.
What Now: You may be eligible to participate in the class action against New Fortress Energy Inc. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by November 18, 2024. 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 Rosen Law: Some law firms issuing releases about this matter do not actually litigate securities class actions; Rosen Law Firm does. A recognized leader in shareholder rights litigation, the attorneys and staff of Rosen Law Firm have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing. Since our inception, we have obtained over $1 billion for shareholders.
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