New Fortress Energy Inc. Class A Common Stock (NASDAQ: NFE)
The Complaint alleges that during the Class Period, Defendants created the false impression that they possessed reliable information pertaining to the Company’s projected revenue outlook and anticipated growth while simultaneously minimizing the risk involved in New Fortress’ plan to have its Fast LNG projects fully operational and to increase business growth globally. On August 9, 2024, New Fortress announced significantly belowmarket growth expectations for fiscal year 2024, actually citing major delays relating to its Fast LNG project. This projection was well below the market expectations generated by New Fortress’ own previous reports of economic growth and internal growth projections provided throughout the first half of fiscal year 2024.