Press release
Lawsuit filed for Investors who lost money with shares of New Fortress Energy Inc. (NASDAQ: NFE)
A lawsuit was filed on behalf of investors in New Fortress Energy Inc. (NASDAQ: NFE) shares over alleged securities laws violation
Investors who purchased shares of New Fortress Energy Inc. (NASDAQ: NFE) have certain options and for certain investors are short and strict deadlines running. Deadline: November 18, 2024. NASDAQ: NFE investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
New York based New Fortress Energy Inc. operates as an integrated gas-to-power energy infrastructure company that provides energy and development services to end-users worldwide. New Fortress Energy Inc. reported that its annual Total Revenue rose from over $2.36 billion in 2022 to over $2.41 billion in 2023 and that Net Income increased from $194.47 million in 2022 to $547.88 million in 2023.
On August 9, 2024, New Fortress Energy Inc. released its second quarter 2024 financial results, revealing an adjusted EBITDA well below the Company's prior expectations. The Company lowered its guidance for the remainder of 2024, attributing disappointing results to delays in placing its FLNG 1 project into service.
Shares of New Fortress Energy Inc. (NASDAQ: NFE) declined from $40.04 per share on December 04, 2023, to as low as $8.85 per share on September 26, 2024.
The plaintiff claims that between February 29, 2024 and August 8, 2024, the defendants created the false impression that they possessed reliable information pertaining to the Company's projected revenue outlook and anticipated growth while simultaneously minimizing the risk involved in New Fortress' plan to have its Fast LNG projects fully operational and to increase business growth globally. On August 9, 2024, New Fortress announced significantly below market growth expectations for fiscal year 2024, actually citing major delays relating to its Fast LNG project. This projection was well below the market expectations generated by New Fortress' own previous reports of economic growth and internal growth projections provided throughout the first half of fiscal year 2024.
Those who purchased shares of New Fortress Energy Inc. (NASDAQ: NFE) 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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