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The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Golar LNG Limited (NASDAQ: GLNG) who purchased shares between April 30, 2020 and September 24, 2020. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the Golar lawsuit alleges that (1) certain employees, including the Chief Executive Officer of Hygo Energy Transition Ltd. f/k/a Golar Power Limited (“Hygo”), had bribed third parties, thereby violating anti-bribery policies; (2) as a result, the Company was likely to face regulatory scrutiny and possible penalties; (3) as a result of the foregoing reputational harm, Hygo’s valuation ahead of its initial public offering would be significantly impaired; and (4) 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.
Shareholders have until November 23, 2020 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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