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Investigation announced for Long-Term Investors in shares of Brooge Energy Limited (NASDAQ: BROG) over potential Wrongdoing

06-18-2024 03:40 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of current long term investors in Brooge Energy Limited (NASDAQ: BROG) shares.

An investigation on behalf of current long term investors in Brooge Energy Limited (NASDAQ: BROG) shares.

An investigation was announced concerning potential breaches of fiduciary duties by certain directors and officers of Brooge Energy Limited.

Investors who are current long term investors in Brooge Energy Limited (NASDAQ: BROG) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm for current long term investors in NASDAQ: BROG stocks follows a lawsuit filed against Brooge Energy Limited over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: BROG stocks, concerns whether certain Brooge Energy Limited directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the Central District of California the plaintiff alleges that, the defendants made materially false and/or misleading statements and/or failed to disclose that Brooge Energy Limited materially overstated its revenues because it never received any revenues from BIA, as well as another fictitious customer, that Brooge Energy Limited engaged in a complex pattern of payments with BIA to create the illusion of revenues from BIA and another customer that had no knowledge of the fraud, that Brooge Energy Limited intentionally lied to its auditors and the Securities and Exchange Commission about its fraudulent activities, that Brooge Energy Limited lacked internal controls, and that 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 Brooge Energy Limited (NASDAQ: BROG) 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.

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