| COMPANY |
New Fortress Energy Inc. |
| COURT |
United States District Court for the Southern District of New York |
| CASE NUMBER |
24-cv-07032 |
| JUDGE |
Honorable John George Koeltl |
| CLASS PERIOD |
December 12, 2022 through August 8, 2024 |
| SECURITY TYPE |
Securities |
Case Background:
This is a federal securities fraud class action lawsuit on behalf those who purchased or otherwise acquired New Fortress Energy Inc. (“New Fortress” or the “Company”) (NASDAQ: NFE) securities between December 12, 2022 and August 8, 2024, inclusive (the “Class Period”).
New Fortress is an American Liquefied Natural Gas (“LNG”) company that 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.
The Class Period begins on December 12, 2022, when New Fortress issued a press release announcing an update to the company’s dividend policy in which New Fortress plans to “return significant capital to its shareholders while continuing to fund substantial growth.” New Fortress also touted the company’s growing capital and plans to invest in its floating LNG facilities. Likewise, on a special investor call held December 13, 2022, New Fortress highlighted the company’s goals and strengths for its Fast LNG (“FLNG”) business as well as promoted New Fortress’ earnings potential and its updated dividend policy.
The complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Defendants created the false impression that they possessed reliable information pertaining to New Fortress’ projected revenue outlook and anticipated growth while also minimizing risk regarding New Fortress’ plan to have its FLNG projects fully operational and increase business growth globally; and (2) New Fortress’ FLNG projects failed to meet New Fortress’ publicly stated progress, specifically that its FLNG 1 project would be in service by March 2024.
Current Status of Case:
On April 4, 2025, Defendants filed a Motion to Dismiss the Complaint. This action is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.