NEW YORK, March 20, 2025 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP reminds investors that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of those who acquired Venture Global, Inc. (“Venture” or the “Company”) (NYSE: VG): common stock pursuant and/or traceable to the registration statement and prospectus (collectively, the “Registration Statement”) issued in connection with the Company’s January 2025 initial public offering (“IPO”). Investors have until April 18, 2025, to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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On January 27, 2025, Venture completed the Company’s IPO, 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 Patrick Pouyanne, stated that he was approached by Venture to see if TotalEnergies would be interested in a long-term supply contract for liquefied natural gas, but he rejected the offer “because of what they are doing.” Currently, Venture faces legal challenges from existing large clients, such as BP and Shell, due to delays in honoring supply contracts as Venture commissions its projects. On this news, the price of Venture shares declined by $2.20 per share, from $19.68 per share on February 5, 2025, to close at $17.48 on February 6, 2025.
The complaint alleges that defendants, throughout the Class Period, failed to account for and address these issues which caused statements in Venture’s registration statements to be false and/or materially misleading at the time of the IPO.
If you purchased or otherwise acquired Venture securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the contact form below, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website.
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Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-699-1180
https://www.kmllp.com
investigations@kmllp.com
