The Law Offices of Frank R. Cruz Announces Investigation of New Fortress Energy Inc. (NFE) on Behalf of Investors
LOS ANGELES--(BUSINESS WIRE)--Sep 19, 2024--
The Law Offices of Frank R. Cruz announces an investigation of New Fortress Energy Inc. (“New Fortress” or the “Company”) (NASDAQ: NFE ) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On August 9, 2024, New Fortress released its second quarter 2024 financial results, revealing adjusted EBITDA well below the Company’s prior expectations. Further, the Company lowered its guidance for the remainder of 2024, attributing disappointing results to delays in placing its FLNG 1 project into service, which cost $150 million per quarter in lost operating margin.
On this news, New Fortress’ stock price fell $4.02, or 23.6%, to close at $13.00 per share on August 9, 2024, thereby injuring investors.
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If you purchased New Fortress securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com:https://www.businesswire.com/news/home/20240919418150/en/
CONTACT: The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
fcruz@frankcruzlaw.com
www.frankcruzlaw.com
KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: CLASS ACTION LAWSUIT PROFESSIONAL SERVICES LEGAL
SOURCE: The Law Offices of Frank R. Cruz
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