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GOLAR DEADLINE ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 In Golar To Contact The Firm

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NEW YORK, Sept. 25, 2020 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Golar LNG Limited ("Golar" or the "Company") (NASDAQ:GLNG) of the November 23, 2020 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

If you invested in Golar stock or options between April 30, 2020 and September 24, 2020 and would like to discuss your legal rights, click here: www.faruqilaw.com/GLNGThere is no cost or obligation to you.

You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.

CONTACT:
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330

A lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased Golar securities between April 30, 2020 September 24, 2020 (the "Class Period"). The case, Zarabi v. Golar LNG Limited, No. 1:20-cv-07926, was filed on September 24, 2020.

As detailed below, the lawsuit focuses on whether the Company and certain of its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose: 1) that certain employees, including Hygo Energy Transition Ltd.'s f/k/a Golar Power Limited ("Hygo") CEO, had bribed third parties, thereby violating anti-bribery policies; (2) that, as a result, the Company was likely to face regulatory scrutiny and possible penalties; (3) that, as a result of the foregoing reputational harm, Hygo's valuation ahead of its IPO would be significantly impaired; and (4) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Specifically, on September 24, 2020, media reported that Hygo's CEO, Eduardo Navarro Antonello, was involved in a bribery network in Brazil's Operation Car Wash.

On this news, Golar's share price fell $3.28 per share to close at $6.86 per share on September 24, 2020—a a drop of approximately 32%.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding Golar's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

 

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