A New Fortress Energy Inc. investor is claiming the liquefied natural gas company and its top executives violated federal securities law when it allegedly repeatedly misled investors about the progress of its new LNG plant.
The company and its top officers “misled investors by providing the public with materially flawed statements of confidence and growth projections” from December 2022 through early August 2024 related to its “Fast LNG” project, causing New Fortress’ stock to trade at artificially high prices, according to the complaint filed Nov. 1 in the US District Court for the Southern District of New York.
New Fortress …