Seems the company may have engaged in false or misleading statements which could have caused share prices to plunge 65%. The stock price is still going down perhaps on the news of this investigation. I’m still holding my position because at this point I think I would be better off riding this out. If you feel you need to get in on this possible class action suit click here for the Schall Law Firm’s web site.
The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Höegh LNG Partners LP (“Höegh” or “the Company”) (NYSE: HMLP) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Höegh announced on July 27, 2021, that it had slashed its quarterly common unit distribution by 98% to preserve cash, a move motivated by near-term financing problems. According to the Company, its refinancing plans for the FSRU facility off the coast of Indonesia collapsed after the charterer of the vessel announced plans to enter arbitration to terminate the charter. Based on this news, shared of Höegh crashed by about 65%.schallfirm.com