SAN DIEGO, Feb. 20, 2025 (GLOBE NEWSWIRE) — Robbins LLP reminds stockholders that a class action was filed on behalf of all shareholders that purchased Venture Global, Inc. (NYSE: VG) stock pursuant to the Company’s registration statement in support of its initial public offering (“IPO”) on January 24, 2025. Venture Global sells liquified natural gas (“LGN”).
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The Allegations: Robbins LLP is Investigating Allegations that Venture Global, Inc. (VG) Misled Investors in Connection with its IPO
According to the complaint, Venture Global conducted its IPO on January 24, 2025 for $25.00 per share. Defendants touted an innovative and disruptive approach, which they stated is both scalable and repeatable, allowing the Company to bring LNG to the global market years faster and at a lower cost. The IPO represented that Venture Global had the customer backing to implement its projects, allowing for the Company to deliver LNG to the world.
The complaint alleges that these representations were called into question when TotalEnergies CEO, Patrick Pouyanne, announced he had rejected an offer from Venture Global to supply LNG from the Calcasieu Pass terminal in Louisiana. The complaint further alleges that Pouyanne cited a lack of trust with respect to Venture Global and questioned how “[t]he price of the LNG was so low.”
According to the complaint, Venture Global is currently facing legal challenges from existing large clients, such as BP and Shell, due to delays in supply contracts as Venture Global commissions its projects. Given that defendants’ ability to deliver LNG to the world and to continue development of Venture Global’s five natural gas liquefication and export projects depends on customer contracts, plaintiff contends that defendants’ failure to account for and address these issues caused statements in Venture Global’s registration statement to be false and/or materially misleading at the time of the initial public offering.
In response to the news, Venture Global’s stock price declined from $19.68 per share on February 5, 2025, to $17.48 per share on February 6, 2025.
What Now: You may be eligible to participate in the class action against Venture Global, Inc. Shareholders who want to serve as lead plaintiff for the class must file their papers with the court by April 18, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002.
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