HMLP Lawsuit Filed: Jakubowitz Law Pursues Claims on Behalf of Hoegh LNG Partners Lp Shareholders

·2 min read

New York, New York--(Newsfile Corp. - November 30, 2021) - Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Hoegh LNG Partners Lp (NYSE: HMLP).

CLICK HERE FOR MORE DETAILS:

https://claimyourloss.com/securities/hoegh-lng-partners-lp-loss-submission-form/?id=21719&from=5

Affected shareholders purchased shares of HMLP between August 22, 2019 and July 27, 2021

Shareholders interested in representing the class of wronged shareholders have until December 27, 2021 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

According to a filed complaint, Hoegh LNG Partners Lp issued 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.

Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/105825

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