HMLP ALERT: The Klein Law Firm Announces a Lead Plaintiff Deadline of December 27, 2021 in the Class Action Filed on Behalf of Hoegh LNG Partners Lp Limited Shareholders - Yahoo Finance
New York, New York--(Newsfile Corp. - November 8, 2021) - The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Hoegh LNG Partners Lp (NYSE: HMLP) alleging that the Company violated federal securities laws.
Class Period: August 22, 2019 and July 27, 2021
Lead Plaintiff Deadline: December 27, 2021
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Hoegh LNG Partners Lp NEWS - HMLP NEWS
CLASS ACTION CASE DETAILS: The filed complaint alleges that Hoegh LNG Partners Lp made materially false and/or misleading statements and/or failed to disclose that: (1) the Partnership was facing issues with the PT Perusahaan Gas Negara ("PGN") Floating Storage Regasification Unit ("FSRU") Lampung charter; (2) as a result, the PGN FSRU Lampung charterer would state that it would commence arbitration to declare the charter null and void, and/or to terminate the charter, and/or seek damages; (3) the Partnership would need to find alternative refinancing for its PGN FSRU Lampung credit facility; (4) the PGN FSRU Lampung credit facility matured in September 2021, not October 2021 as previously stated; (5) the Partnership would be forced to accept less favorable refinancing terms with regards to the PGN FSRU Lampung credit facility; (6) H"oegh LNG would not extend the revolving credit line to the Partnership past its maturation date; (7) H"oegh LNG would reveal that it "will have very limited capacity to extend any additional advances to the Partnership beyond what is currently drawn under the facility"; (8) as a result of the foregoing, the Partnership would essentially end distributions to common units holders; (9) the COVID-19 pandemic was not the sole or root cause of the Partnership's issues in Indonesia, in 2019, before the pandemic, there were already a very low amount of demand in Indonesia for the Partnership's gas; (10) the auditing, tax, nor maintenance of PGN FSRU Lampung were not the sole or root cause(s) of the Partnership's issues in Indonesia; and (11) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
source: https://finance.yahoo.com/news/hmlp-alert-klein-law-firm-103800437.html
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