According to the lawsuit, during the Class Period, defendants created the false impression that they possessed reliable information pertaining to New Fortress’ projected revenue outlook and anticipated growth while simultaneously minimizing the risk involved in New Fortress’ plan to have its Fast Liquefied Natural Gas (“LNG”) projects fully operational and to increase business growth globally. In reality, New Fortress’ Fast LNG projects failed to fulfill New Fortress’ public statements that its FLNG 1 project would be in service by March 2024. Even following the announcement that these delays were costing New Fortress upwards of $150 million per quarter, defendants continued to tout the speed at which New Fortress was building facilities. Defendants misled investors by providing the public with materially flawed statements of confidence and growth projections that did not account for these variables.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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