GLNG CLASS ACTION NOTICE: Glancy Prongay & Murray LLP Files Securities Fraud Lawsuit Against Golar LNG Limited
LOS ANGELES--(BUSINESS WIRE)--Sep 24, 2020--
Glancy Prongay & Murray LLP (“GPM”) announces that it has filed a class action lawsuit in the United States District Court for the Southern District of New York captioned Zarabi v. Golar LNG Limited, et al., (Case No. 20-cv-07926) on behalf of persons and entities that purchased or otherwise acquired Golar LNG Limited (“Golar” or the “Company”) (NASDAQ: GLNG ) securities between April 24, 2020 and September 24, 2020, inclusive (the “Class Period”). Plaintiff pursues claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”).
Investors are hereby notified that they have 60 days from the date of this notice to move the Court to serve as lead plaintiff in this action.
If you suffered a loss on your Golar investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https://www.glancylaw.com/cases/golar-lng-limited/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at firstname.lastname@example.org to learn more about your rights.
On September 24, 2020, media reported that the Chief Executive Officer (“CEO”) of Golar’s joint venture, Hygo Energy Transition Ltd. (“Hygo”), was involved in a bribery network investigated in Brazil’s Operation Car Wash.
On this news, the Company’s share price fell $3.28, or 32%, to close at $6.86 per share on September 24, 2020, thereby damaging investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that certain employees, including Hygo’s CEO, had bribed third parties, thereby violating anti-bribery policies; (2) that, as a result, the Company was likely to face regulatory scrutiny and possible penalties; (3) that, as a result of the foregoing reputational harm, Hygo’s valuation ahead of its IPO would be significantly impaired; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you purchased or otherwise acquired Golar securities during the Class Period, you may move the Court no later than 60 days from the date of this notice to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Charles H. Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to email@example.com, or visit our website at www.glancylaw.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/20200924005939/en/
CONTACT: Glancy Prongay and Murray LLP, Los Angeles
Charles H. Linehan, 310-201-9150 or 888-773-9224
KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES
SOURCE: Glancy Prongay & Murray LLP
Copyright Business Wire 2020.
PUB: 09/24/2020 10:25 PM/DISC: 09/24/2020 10:25 PM