According to the Complaint, New Fortress Energy Inc. is a liquefied natural gas (LNG) company. The Company owns and operates natural gas and LNG infrastructure and an integrated fleet of ships and other logistics assets to deliver energy solutions to customers worldwide. This lawsuit was filed against the Company and three of its Officers.

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 below market 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.

On December 17, 2024, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel. All future docketing was ordered to be done in the lead case 24-CV-07032.

On February 19, 2025, Lead Plaintiff filed an amended Complaint.