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].
Investors who lost money on New Fortress Energy Inc.(NFE) should contact The Gross Law Firm about pending Class Action - NFE