NEW YORK–(COMMERCIAL THREAD) – Rosen Law Firm, a global investor rights law firm, announces that it has filed a class action lawsuit on behalf of buyers of securities of Höegh LNG Partners LP (NYSE: HMLP) between August 22, 2019 and August 27, 2019 July 2021, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Höegh’s investors under federal securities laws.
To join the Höegh class action lawsuit, go to http://www.rosenlegal.com/cases-register-2140.html or call Phillip Kim, Esq. toll free at 866-767-3653 or by emailing [email protected] or [email protected] for information on the class action.
According to the lawsuit, the Defendants throughout the Class Period made false and / or misleading statements and / or failed to disclose: (1) Höegh LNG Partners LP (the “Partnership”) was facing issues with the PGN FSRU Lampung charter; (2) accordingly, the PGN FSRU Lampung the charterer would declare that he would initiate arbitration to declare the charter null and void, and / or to terminate the charter, and / or to claim damages; (3) the Partnership would need to find alternative refinancing for its PGN FSRU Lampung credit facility; (4) the PGN FSRU Lampung the credit facility matured in September 2021, and not in October 2021 as previously indicated; (5) the Partnership would be forced to accept less favorable refinancing conditions with regard to the PGN FSRU Lampung credit facility; (6) Höegh LNG would not extend the revolving credit line to the Partnership beyond its maturity date; (7) Höegh LNG would reveal that it “will have a very limited capacity to extend any further advance to the limited partnership beyond what is currently drawn as part of the facility”; (8) as a result of the foregoing, the Partnership would essentially terminate distributions to Common Unitholders; (9) the COVID-19 pandemic was not the sole or root cause of the Partnership’s problems in Indonesia, in 2019, before the pandemic, there was already a very low demand in Indonesia for the Partnership’s gas; (10) the audit, taxation, nor the maintenance of PGN FSRU Lampung were not the only cause (s) of the Partnership’s problems in Indonesia; and (11) as a result, the defendants’ statements about its business, operations and prospects were materially false and misleading and / or lacked reasonable basis at all material times. When the real details entered the market, the lawsuit claims that investors have suffered damage.
A class action has already been filed. If you want to serve as the principal applicant, you must move the court no later than December 27, 2021. A principal plaintiff is a representative party acting on behalf of the other members of the class to direct the litigation. If you want to join the litigation, go to http://www.rosenlegal.com/cases-register-2140.html or to discuss your rights or interests in relation to this class action lawsuit, please contact Phillip Kim, Esq. from Rosen Law Firm at toll-free 866-767-3653 or by email at [email protected] or [email protected]
NO GROUP HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY A LAWYER UNLESS YOU REMAIN ONE. YOU MAY RETAIN ANY BOARD OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. THE ABILITY OF AN INVESTOR TO PARTICIPATE IN ANY POSSIBLE FUTURE RECOVERY IS NOT DEPENDENT ON SERVING AS A PRINCIPAL COMPLAINANT.
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Rosen Law Firm represents investors around the world, focusing its practice on class actions in securities and derivative litigation between shareholders. Rosen law firm was ranked # 1 by ISS Securities Class Action Services for the number of securities class action settlements in 2017. The firm has been ranked in the top 4 every year since 2013. The firm has been ranked in the top 4 every year since 2013. Rosen attorneys secured the largest securities class action settlement ever. against a Chinese company. Rosen Law Firm attorneys are ranked and recognized by many independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors.
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