{"id":23201,"date":"2024-11-03T11:16:13","date_gmt":"2024-11-03T11:16:13","guid":{"rendered":"https:\/\/allonlinebanglanewspapers.com\/news\/deadline-alert-faruqi-faruqi-llp-encourages-investors-of-new-fortress-energy-to-contact-us-to-have-their-losses-evaluated-today\/"},"modified":"2024-11-03T11:16:13","modified_gmt":"2024-11-03T11:16:13","slug":"deadline-alert-faruqi-faruqi-llp-encourages-investors-of-new-fortress-energy-to-contact-us-to-have-their-losses-evaluated-today","status":"publish","type":"post","link":"https:\/\/allonlinebanglanewspapers.com\/news\/deadline-alert-faruqi-faruqi-llp-encourages-investors-of-new-fortress-energy-to-contact-us-to-have-their-losses-evaluated-today\/","title":{"rendered":"DEADLINE ALERT: Faruqi & Faruqi, LLP Encourages Investors of New Fortress Energy to Contact Us to Have Their Losses Evaluated Today"},"content":{"rendered":"
\n

Faruqi & Faruqi, LLP Securities Litigation Partner <\/strong>James (Josh) Wilson<\/strong><\/a> Encourages Investors Who Suffered Losses Exceeding $50,000 In New Fortress To Contact Him Directly To Discuss Their Options<\/strong><\/p>\n

If you suffered losses exceeding $50,000 in <\/strong>New Fortress<\/strong><\/a> between February 9, 2024, and August 8, 2024 <\/strong>and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly <\/strong>at 877-247-4292 <\/strong>or 212-983-9330 (Ext. 1310)<\/strong>.<\/p>\n

[Click here to submit your transactions]<\/strong><\/a><\/p>\n

<\/p>\n

NEW YORK, Nov. 02, 2024 (GLOBE NEWSWIRE) — Faruqi & Faruqi, LLP<\/a>, a leading national securities law firm, is investigating potential claims against New Fortress Energy Inc. (\u201cNew Fortress\u201d or the \u201cCompany\u201d) (NASDAQ: NFE) and reminds investors of the November 18, 2024 deadline<\/strong> to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.<\/p>\n

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com<\/a>.<\/p>\n

As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and\/or misleading statements and\/or failing to disclose that: (1) defendants created the false impression that they possessed reliable information pertaining to New Fortress\u2019 projected revenue outlook and anticipated growth while also minimizing risk regarding New Fortress\u2019 plan to have its Fast LNG (\u201cFLNG\u201d) projects fully operational and increase business growth globally; and (2) New Fortress\u2019 FLNG projects failed to meet New Fortress\u2019 publicly stated progress, specifically that its FLNG 1 project would be in service by March 2024.<\/p>\n

On August 9, 2024, New Fortress issued a press release announcing its financial results for the second quarter of 2024 disclosing \u201cAdjusted EBITDA in the second quarter of $120 million, well below [its] expectation of $275 million.\u201d The Company attributed the loss to \u201cdelays\u201d in the launch of its FLNG (Floating Liquid Natural Gas) export facility off Mexico\u2019s Altamira coast. Further, the press release states \u201cthe cost of delay is approximately $150 million per quarter in lost operating margin, which represents the vast majority of the Adjusted EBITDA shortfall for the quarter.\u201d During the Company\u2019s conference call, Chairman and CEO Wesley Edens, said \u201cthe miss was entirely a result of the delay in the deployment of our first FLNG 1 asset.\u201d<\/p>\n

Following this news, the price of New Fortress stock price fell $4.02 per share, over 23%, to close at $13.00 per share on August 9, 2024.<\/p>\n

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.\u00a0\u00a0<\/p>\n

Faruqi & Faruqi, LLP also encourages anyone with information regarding New Fortress Energy\u2019s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.<\/p>\n

To learn more about the New Fortress Energy <\/strong>class action, go to www.faruqilaw.com\/NFE<\/strong><\/a> or call<\/strong> Faruqi & Faruqi partner Josh Wilson directly <\/strong>at 877-247-4292 <\/strong>or 212-983-9330 (Ext. 1310)<\/strong>.<\/p>\n

Follow us for updates on LinkedIn<\/a>, on X<\/a>, or on Facebook<\/a>.<\/p>\n

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com<\/a>). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.<\/p>\n

\n <\/div>\n","protected":false},"excerpt":{"rendered":"

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In New Fortress To Contact Him Directly To Discuss Their Options If you suffered losses exceeding $50,000 in New Fortress between February 9, 2024, and August 8, 2024 and would like to discuss your legal rights, call Faruqi 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