Nov 28, 2023
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SHAREHOLDER ALERT: The Gross Law Firm Notifies Shareholders of Hoegh LNG Partners LP of a Class Action Lawsuit and a Lead Plaintiff Deadline of December 27, 2021 - (HMLP)
November 09, 2021 12:32 PM EST | Source: Gross Law Firm
New York, New York--(Newsfile Corp. - November 9, 2021) - The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders of Hoegh LNG Partners LP (NYSE: HMLP).
Shareholders who purchased shares of HMLP during the class period listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.
CONTACT US HERE:
CLASS PERIOD : August 22, 2019 to July 27, 2021
ALLEGATIONS: The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) the Partnership was facing issues with the PT Perusahaan Gas Negara ("PGN") Floating Storage Regasification Unit ("FSRU") Lampung charter; (2) as a result, the PGN FSRU Lampung charterer would state that it would commence arbitration to declare the charter null and void, and/or to terminate the charter, and/or seek damages; (3) the Partnership would need to find alternative refinancing for its PGN FSRU Lampung credit facility; (4) the PGN FSRU Lampung credit facility matured in September 2021, not October 2021 as previously stated; (5) the Partnership would be forced to accept less favorable refinancing terms with regards to the PGN FSRU Lampung credit facility; (6) H"oegh LNG would not extend the revolving credit line to the Partnership past its maturation date; (7) H"oegh LNG would reveal that it "will have very limited capacity to extend any additional advances to the Partnership beyond what is currently drawn under the facility"; (8) as a result of the foregoing, the Partnership would essentially end distributions to common units holders; (9) the COVID-19 pandemic was not the sole or root cause of the Partnership's issues in Indonesia, in 2019, before the pandemic, there were already a very low amount of demand in Indonesia for the Partnership's gas; (10) the auditing, tax, nor maintenance of PGN FSRU Lampung were not the sole or root cause(s) of the Partnership's issues in Indonesia; and (11) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
DEADLINE: December 27, 2021 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/hoegh-lng-partners-lp-loss-submission-form/?id=20984&from=5
NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of HMLP during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is December 27, 2021. There is no cost or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (212) 537-9430
Fax: (833) 862-7770
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/102652