NEW YORK, NY - (NewMediaWire) - August 15, 2024 - Kaplan Fox & Kilsheimer LLP is investigating potential securities violations against New Fortress Energy Inc. (NFE) (“New Fortress” or the “Company”) (NASDAQ: NFE).

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If you are a New Fortress investor and have suffered losses, you may click here to contact us. You may also contact Kaplan Fox by emailing pmayer@kaplanfox.com or by calling (646) 315-9003.

On August 9, 2024, New Fortress issued a press release announcing its financial results for the second quarter of 2024 disclosing “Adjusted EBITDA in the second quarter of $120 million, well below [its] expectation of $275 million.”  The Company attributed the loss to “delays” in the launch of its FLNG (Floating Liquid Natural Gas) export facility off Mexico’s Altamira coast. Further, the press release states “the cost of delay is approximately $150 million per quarter in lost operating margin, which represents the vast majority of the Adjusted EBITDA shortfall for the quarter.”  During the Company’s conference call, Chairman and CEO Wesley Edens, said “the miss was entirely a result of the delay in the deployment of our first FLNG 1 asset.”

Following this news, the price of New Fortress stock price fell $14.02 per share, over 23%, to close at $13 per share on August 9, 2024.

WHY CONTACT KAPLAN FOX - Kaplan Fox is a leading national law firm focusing on complex litigation with offices in New York, Oakland, Los Angeles, Chicago and New Jersey.  With over 50 years of experience in securities litigation, Kaplan Fox offers the professional experience and track record that clients demand.  Through prosecuting cases on the federal and state levels, Kaplan Fox has successfully shaped the law through winning many important decisions on behalf of our clients.  For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.

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If you have any questions about this investigation, please contact:

Pamela A. Mayer
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(646) 315-9003
E-mail: pmayer@kaplanfox.com

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax:  (415) 772-4707
E-mail: lking@kaplanfox.com