Core Viewpoint - A securities class action lawsuit has been filed against New Fortress Energy Inc. for allegedly making false statements and failing to disclose critical information regarding its projected revenue and growth during the Class Period from February 29, 2024, to August 8, 2024 [1][3]. Group 1: Lawsuit Details - The lawsuit is on behalf of investors who purchased New Fortress securities during the specified Class Period [1]. - The lead plaintiff deadline for the lawsuit is set for November 18, 2024 [1][4]. - Allegations include that New Fortress misrepresented its revenue outlook and downplayed risks associated with its Fast LNG projects, specifically failing to meet the timeline for the Fast LNG 1 project, which was expected to be operational by March 2024 [3]. Group 2: Legal Process - Investors in New Fortress can seek to be appointed as lead plaintiffs by the deadline or choose to remain absent class members [4]. - The lead plaintiff will represent the interests of all class members and select legal counsel for the case [4]. Group 3: Law Firm Background - Kessler Topaz Meltzer & Check, LLP is known for prosecuting class actions and has a reputation for recovering billions for victims of corporate misconduct [5].

Core Viewpoint - New Fortress Energy Inc. is facing allegations of misleading investors regarding its revenue outlook and growth projections, particularly related to its Fast Liquefied Natural Gas (LNG) projects, which have experienced significant delays and financial losses [2]. Group 1: Allegations and Financial Impact - The complaint alleges that New Fortress Energy misrepresented its ability to deliver on its Fast LNG projects, specifically failing to have the FLNG 1 project operational by March 2024 as promised [2]. - The delays in the Fast LNG projects are reportedly costing the company approximately $150 million per quarter, yet the company continued to project confidence in its growth and facility construction [2]. Group 2: Class Action Details - The class period for the alleged misconduct spans from February 29, 2024, to August 8, 2024, with a deadline for shareholders to register for the class action set for November 18, 2024 [3]. - Shareholders who purchased shares during the specified period are encouraged to register for potential recovery, with no cost or obligation to participate [3]. Group 3: Legal Representation - The Gross Law Firm, a nationally recognized class action law firm, is representing the shareholders and aims to protect investors from deceit and fraud [4]. - The firm emphasizes its commitment to ensuring responsible business practices and seeks recovery for investors affected by misleading statements from New Fortress Energy [4].

Group 1 - New Fortress Energy successfully negotiated a deal with creditors, exchanging existing notes for new ones with a higher interest rate of 12% due in 2029, while securing these notes with a 49% stake in its Brazil operations [2][3] - The company raised $400 million by selling 46.3 million shares at $8.63, with CEO Wesley R. Edens purchasing 5.8 million shares to boost investor confidence [3] - Despite these measures providing some short-term relief, the company faces challenges due to high leverage, with over $7.6 billion in debt against only $133 million in cash [4][5] Group 2 - New Fortress missed earnings guidance in its second-quarter report, primarily due to delays in its new floating LNG facility, raising concerns about its ability to manage debt maturities [4] - The company's management has projected adjusted EBITDA of $1.3 billion for 2025, which is still considered high leverage given its substantial net debt exceeding $7 billion [5] - The recent actions taken by New Fortress indicate a high-risk profile, as the company remains heavily reliant on LNG price fluctuations [5]

SAN DIEGO, Oct. 01, 2024 (GLOBE NEWSWIRE) -- Robbins Geller Rudman & Dowd LLP announces that the New Fortress class action lawsuit – captioned Bojdol v. New Fortress Energy Inc., No. 24-cv-07032 (S.D.N.Y.) – charges New Fortress Energy Inc. (NASDAQ: NFE) and certain of New Fortress' top executives with violations of the Securities Exchange Act of 1934. If you suffered substantial losses and wish to serve as lead plaintiff of the New Fortress class action lawsuit, please provide your information here: https: ...

Core Insights - Moore Law, PLLC is investigating potential claims against New Fortress Energy Inc. regarding misleading statements about its revenue outlook and growth projections [1] - The investigation highlights that New Fortress' Fast LNG projects did not meet the company's public commitments, particularly the FLNG 1 project which was expected to be operational by March 2024 [1] - The company faced significant financial repercussions, with delays costing approximately $150 million per quarter, yet continued to promote the rapid development of its facilities [1] Stock Impact - Following the news of the investigation and the associated claims, New Fortress Energy's stock price dropped by over 23% [2]

NEW YORK, Sept. 30, 2024 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of New Fortress Energy Inc. (NASDAQ: NFE). Shareholders who purchased shares of NFE during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. CONTACT US HERE: https://securitiesclasslaw.com/securities/new-fortress-energy-inc-loss-submission-form/?id=105596&from=4 CLASS PERIOD: F ...

RADNOR, Pa., Sept. 27, 2024 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed against New Fortress Energy Inc. ("New Fortress") (NASDAQ: NFE) on behalf of investors who purchased or otherwise acquired New Fortress securities between February 29, 2024 and August 8, 2024, inclusive (the "Class Period") The lead plaintiff deadline is November 18, 2024. CONTACT KESSLER TOPAZ MELTZER & CHECK, LLP: If you s ...

RADNOR, Pa., Sept. 26, 2024 /PRNewswire/ -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed against New Fortress Energy Inc. ("New Fortress") (NASDAQ: NFE) on behalf of investors who purchased or otherwise acquired New Fortress securities between February 29, 2024 and August 8, 2024, inclusive (the "Class Period") The lead plaintiff deadline is November 18, 2024. CONTACT KESSLER TOPAZ MELTZER & CHECK, LLP: If you suffe ...

NEW YORK, Sept. 26, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of securities of New Fortress Energy Inc. (NASDAQ: NFE) between February 29, 2024 and August 8, 2024, both dates inclusive (the "Class Period"). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than November 18, 2024. SO WHAT: If you purchased New Fortress securities d ...

NEW YORK, Sept. 26, 2024 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of New Fortress Energy Inc. (NASDAQ: NFE). Shareholders who purchased shares of NFE during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. CONTACT US HERE: https://securitiesclasslaw.com/securities/new-fortress-energy-inc-loss-submission-form/?id=105048&from=4 CLASS PERIOD: F ...