1. Venture Global faces a class action lawsuit over alleged securities fraud. 2. TotalEnergies rejected a potential long-term supply contract with Venture. 3. Legal challenges arise from existing clients like BP and Shell. 4. Allegations state Venture's IPO registration was materially misleading. 5. Investors have until April 18, 2025, to request lead plaintiff status.
The ongoing lawsuit may diminish market trust in VG. Historical cases of securities fraud often lead to significant stock price declines.
The lawsuit and allegations could severely impact investor confidence and VG's market performance.
Legal matters typically affect stock prices quickly, especially post-IPO reputational risks. For example, companies like Luckin Coffee saw steep declines due to fraud allegations shortly after their public offerings.
PRNewswire -- Levi & Korsinsky, LLP notifies investors in Venture Global, Inc. ("Venture" or the "Company") (NYSE: VG) of a class action securities lawsuit.
The lawsuit seeks to recover losses on behalf of Venture investors who were adversely affected by alleged securities fraud. This lawsuit is on behalf of all shareholders that purchased stock pursuant and/or traceable to Venture's registration statement for the initial public offering held on or about January 24, 2025. Follow the link below to get more information and be contacted by a member of our team:
Venture Global Inc. Lawsuit Submission Form
VG investors may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500.
According to the complaint, Venture completed its initial public offering on January 27, 2025, selling 70 million shares at $24.00 per share. On February 5, 2025, TotalEnergies, an energy company that was a target customer of Venture, rejected opportunities to become a long-term customer of Venture, citing lack of trust. In particular, TotalEnergies CEO, stated that he was approached by Venture to see if the company would be interested in a long-term supply contract for liquefied natural gas from the Calcasieu Pass terminal in Louisiana, but he rejected the offer "because of what they are doing." Venture is currently facing legal challenges from existing large clients, such as BP and Shell, due to delays in supply contracts as Venture commissions its projects.
Given the fact that defendants ability to deliver liquefied natural gas (LNG) to the world and to continue development of Venture's five natural gas liquefaction and export projects depends on customer contracts, defendants' failure to account for and address these issues caused statements in Venture's registration statement to be false and/or materially misleading at the time of the initial public offering.
If you suffered a loss in Venture during the relevant time frame, you have until April 18, 2025 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
Tel: (212) 363-7500
Fax: (212) 363-7171
SOURCE Levi & Korsinsky, LLP