If you purchased or otherwise acquired stock of Venture pursuant and/or traceable to Venture’s registration statement for the initial public offering held on or about January 24, 2025 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
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NEW YORK, Feb. 18, 2025 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Venture Global, Inc. (“Venture” or the “Company”) (NYSE: VG) and reminds investors of the April 18, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
Venture is currently facing legal challenges from existing large clients, such as BP and Shell, due to delays in supply contracts as Venture commissions its projects. Given the fact that defendants ability to deliver liquefied natural gas (LNG) to the world and to continue development of Venture’s five natural gas liquefication and export projects depends on customer contracts, defendants’ failure to account for and address these issues caused statements in Venture’s registration statement to be false and/or materially misleading at the time of the initial public offering.
Venture completed its initial public offering on January 27, 2025, 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, Patrick Pouyanné, TotalEnergies CEO, stated that he was approached by Venture to see if the company would be interested in a long-term supply contract for liquefied natural gas from the Calcasieu Pass terminal in Louisiana, but he rejected the offer because of what they are doing.
In response to the news, Venture’s stock price declined from $19.68 per share on February 5, 2025 to $17.48 per share on February 6, 2025.
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 Venture’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
To learn more about the Venture Global, Inc. class action, go to www.faruqilaw.com/VG or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
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