The global investor rights law firm, Rosen Law Firm, is reminding investors of the November 18, 2024, lead plaintiff deadline in the securities class action against New Fortress Energy Inc. Investors who purchased securities during this period may be entitled to compensation via a contingency fee arrangement.
Those wishing to join the class action can either visit the Rosen Legal website or contact Phillip Kim, Esq. via toll-free phone or email. It’s important to note that the lead plaintiff acts on behalf of other class members in directing the litigation.
The lawsuit alleges that the defendants created a false impression of possessing reliable information about New Fortress’s projected revenue and growth, while downplaying the risk involved in their Fast Liquefied Natural Gas (FLNG) projects. In reality, the FLNG projects failed to meet the publically stated deadlines, costing New Fortress around $150 million per quarter. The lawsuit accuses the defendants of misleading investors by providing flawed statements of confidence and growth projections.
Interested parties should be aware that no class has been certified yet. Until a class is certified, investors are not represented by counsel unless they retain one independently. Their ability to share in any potential recovery does not depend on serving as the lead plaintiff.
