Firm Announces Class Action Lawsuit for Anyone Who Acquired Securities of New Fortress Energy

If you purchased the New Fortress securities during the Class Period you may be entitled to compensation

CHARLESTON, SC, UNITED STATES, September 27, 2024 /EINPresswire.com/ -- Poulin | Willey | Anastopoulo, a leading Plaintiffs class action firm announces the filing of a class action securities lawsuit in the United States District Court for the Southern District of New York on behalf of persons or entities who purchased or otherwise acquired the publicly traded securities of New Fortress Energy, Inc.(‘New Fortress” or the “Company”) (NASDAQ:NFE) between February 29, 2024, and August 8, 2024, both dates inclusive (the “Class” and 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.

WHY: If you purchased the New Fortress securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency arrangement. There is no cost or obligation to participate.

WHAT’S NEXT: To join the New Fortress class action, call Stuart J. Guber, Esq. at 803-222-2222 or email Stuart J. Guber, Esq. at stuart.guber@poulinwilley.com. If you wish to serve as a lead plaintiff, you must move the Court no later than November 18, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

CASE DETAILS: According to the Complaint, Case 1:24-cv-07032, New Fortress Energy Inc. is a liquefied natural gas (LNG) company. The Company owns and operates natural gas and LNG infrastructure and an integrated fleet of ships and other logistics assets to deliver energy solutions to customers worldwide. This lawsuit was filed against the Company and three of its Officers.

The Complaint alleges that during the Class Period, 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, the truth emerged when New Fortress published a press release announcing disappointing adjusted EBITDA second quarter 2024 highlights and lowered its guidance for the second half of 2024 accordingly. In pertinent part, New Fortress revealed that its adjusted EBITDA in the second quarter of $120 million was well below the Company’s expectation of $275 million. Importantly, the Company attributed disappointing results and lowered guidance to delays in placing the Company’s FLNG 1 project into service, which cost New Fortress $150 million per quarter in lost operating margin. Investors and analysts reacted immediately to New Fortress’ revelation. The price of New Fortress’ common stock declined dramatically. From a closing market price of $17.02 per share on August 8, 2024, New Fortress’ stock price fell to $13.00 per share on August 9, 2024.

NO COST TO YOU: No Recovery, No Attorney’s Fees, No Costs. We represent you on a fully contingent basis. There are no fees or costs to you for your participation in the lawsuit if the lawsuit is unsuccessful.

WHY POULIN | WILLEY| ANASTOPOULO: The firm is one of the leading Plaintiff class action and mass tort firms in the country. Our Director of Shareholder Services and Securities Litigation, Stuart J. Guber, has over three decades of experience successfully representing defrauded shareholders including public pension plans, Taft-Hartley union pension plans and health & welfare funds, and individual investors in class action securities litigation and securities opt-out litigation. In addition, firm partner Roy Willey IV has served as counsel in class actions and multi district litigations across the country. He brings a creative, problem-solving based approach to handling cases for consumers, investors and others harmed through no fault of their own. As a result he has been repeatedly named among America’s Top 100 High Stakes Litigators, Best Lawyers, and Super Lawyers.

Stuart Guber
Poulin | Willey | Anastopoulo
+ +1 8032222222
stuart.guber@poulinwilley.com
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