NEW YORK, NY / ACCESSWIRE / October 1, 2024 / Pomerantz LLP announces that a class action lawsuit has been filed against New Fortress Energy Inc. ("New Fortress" or the "Company") (NASDAQ:NFE). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
The class action concerns whether New Fortress and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
You have until November 24, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired New Fortress securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.
[Click here for information about joining the class action]
On August 9, 2024, New Fortress issued a press release announcing disappointing adjusted EBITDA second quarter 2024 highlights and lowering the Company's guidance for the second half of 2024 accordingly. In relevant part, New Fortress revealed that its adjusted EBITDA in the second quarter of $120 million was well below the Company's expectation of $275 million. The Company attributed the disappointing results and lowered guidance to delays in placing the Company's FLNG 1 project into service, which cost New Fortress $150 million per quarter in lost operating margin.
On this news, New Fortress's stock price fell $4.02 per share, or 23.62%, to close at $13.00 per share on August 9, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
SOURCE: Pomerantz LLP
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