Rosen Law Firm, a global investor rights law firm, is reminding New Fortress Energy Inc. purchasers of securities between February 29, 2024, and August 8, 2024, about the crucial November 18, 2024, lead plaintiff deadline. If you invested in New Fortress securities during this period, you may be eligible for compensation without any out-of-pocket fees or costs owed.
To participate in the New Fortress class action, you can go to Rosen Law Firm’s website or reach out to Phillip Kim, Esq. Registrations are to be done by November 18, 2024. Notably, the lead plaintiff, who acts on behalf of other class members, guides the litigation.
The lawsuit alleges that the defendants created a false perception about reliable information on New Fortress’s revenue outlook and expected growth. They reportedly played down the risk associated with the company’s Fast Liquefied Natural Gas (FLNG) projects, while in reality, their FLNG 1 project failed to be operational by March 2024, contrary to public statements made.
The delays in project completion led to costs exceeding $150 million per quarter for New Fortress. However, the defendants continued to assert about the swiftness of building facilities and provided flawed confidence and growth projections. The lawsuit seeks compensation for the investors for the damages suffered due to divulgence of the true details.
To become a part of the class action lawsuit, reach out to Rosen Law Firm or Phillip Kim, Esq. You can either retain counsel of your choice or remain an absent class member at this point.