NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors with losses in excess of $100,000 that they have only until December 27, 2021 to file lead plaintiff applications in a securities class action lawsuit against Höegh LNG Partners LP (NYSE: HMLP), if they purchased the Company’s securities between August 22, 2019 and July 27, 2021, inclusive (the “Class Period”). This action is pending in the United States District Court for the District of New Jersey.
What You May Do
If you purchased securities of Höegh LNG and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nyse-hmlp/ to learn more. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by December 27, 2021.
Höegh LNG and certain of its executives are charged with failing to disclose material information during the class period, violating federal securities laws.
On July 27, 2021, the Company disclosed that its quarterly cash distribution had been slashed from $0.44 per common unit to $0.01 per common unit, that its revolving credit line would not be extended when it matured on January 1, 2023, and that its parent company would have very limited capacity to provide additional future support, among other things.
On this news, Höegh LNG's common unit price plummeted 64%, on unusually heavy trading volume.
The case is Sanchez v. Höegh LNG Partners LP, et al., 21-cv- 19374.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
