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 [1][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 [1]. - The delays in the Fast LNG projects are reportedly costing the company over $150 million per quarter, yet the defendants continued to promote the rapid development of facilities [1]. - Investors were misled by materially flawed statements regarding the company's growth and confidence, which did not reflect the actual risks and challenges faced [1]. Group 2: Class Action Details - The class period for the alleged misconduct is from February 29, 2024, to August 8, 2024, and shareholders are encouraged to register for participation in the class action [2]. - The deadline for shareholders to seek lead plaintiff status is November 18, 2024, and there is no cost or obligation to participate in the case [2].
The Gross Law Firm Reminds Shareholders of a Lead Plaintiff Deadline of November 18, 2024 in New Fortress Lawsuit - NFE