NYSE: HMLP Shareholder Notice: Lawsuit alleges Misleading Statements by Höegh LNG Partners LP

An investor, who purchased shares of Höegh LNG Partners LP (NYSE: HMLP), filed a lawsuit in the U.S. over alleged violations of Federal Securities Laws by Höegh LNG Partners LP in connection with certain allegedly false and misleading statements.

Investors who purchased shares of Höegh LNG Partners LP (NYSE: HMLP) have certain options and for certain investors are short and strict deadlines running. Deadline: December 27, 2021. NYSE: HMLP investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Bermuda based Höegh LNG Partners LP focuses on owning, operating, and acquiring floating storage and regasification units (FSRUs), liquefied natural gas (LNG) carriers, and other LNG infrastructure assets under long-term charters. On July 27, 2021, after trading hours, Höegh LNG Partners LP announced that it had reduced its quarterly common unit distribution by 98% to preserve cash. Höegh LNG Partners LP also revealed its refinancing plans for the PGN FSRU Lampung facility collapsed after the charterer of the vessel announced plans to enter arbitration to terminate the charter. Further, Höegh LNG Partners LP announced that its parent company, Höegh LNG Holdings Ltd., will no longer provide financial support to the Company. Shares of Höegh LNG Partners LP (NYSE: HMLP) declined from $18.17 per share on June 25, 2021, to as low as $4.85 per share on August 09, 2021.

The plaintiff claims that between August 22, 2019 and July 27, 2021, the defendants made false and/or misleading statements and/or failed to disclose:
(1) Höegh LNG Partners LP (the “Partnership”) was facing issues with the PGN FSRU Lampung charter;
(2) as a result, the PGN FSRU Lampung charterer would state that it would commence arbitration to declare the charter null and void, and/or to terminate the charter, and/or seek damages;
(3) the Partnership would need to find alternative refinancing for its PGN FSRU Lampung credit facility;
(4) the PGN FSRU Lampung credit facility matured in September 2021, not October 2021 as previously stated;
(5) the Partnership would be forced to accept less favorable refinancing terms with regards to the PGN FSRU Lampung credit facility;
(6) Höegh LNG would not extend the revolving credit line to the Partnership past its maturation date;
(7) Höegh LNG would reveal that it “will have very limited capacity to extend any additional advances to the Partnership beyond what is currently drawn under the facility”;
(8) as a result of the foregoing, the Partnership would essentially end distributions to common units holders;
(9) the COVID-19 pandemic was not the sole or root cause of the Partnership’s issues in Indonesia, in 2019, before the pandemic, there were already a very low amount of demand in Indonesia for the Partnership’s gas;
(10) the auditing, tax, nor maintenance of PGN FSRU Lampung were not the sole or root cause(s) of the Partnership’s issues in Indonesia;
and
(11) as a result, defendants’ statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Those who purchased shares of Höegh LNG Partners LP (NYSE: HMLP) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.