New Fortress Energy, Inc. (NASDAQ: NFE)

This lawsuit is for anyone who acquired securities in New Fortress Energy, Inc. (NASDAQ: NFE) from February 29, 2024 through August 8, 2024.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by telling investors that the Company’s Fast LNG projects were were meeting progress goals that they were not actually meeting.

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, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in New Fortress Energy, Inc. (NASDAQ: NFE) from February 29, 2024 through August 8, 2024 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.