NEW YORK, Aug. 9, 2021 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Höegh LNG Partners LP ("Höegh" or the "Company") (NYSE: HMLP). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Höegh and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On July 27, 2021, after trading hours, Höegh announced that it had reduced its quarterly common unit distribution by 98% to preserve cash. The Partnership also revealed that its refinancing plans for the PGN FSRU Lampung facility collapsed after the charterer of the vessel announced plans to enter arbitration to terminate the charter. Further, the Partnership announced that its parent company, Höegh LNG Holdings Ltd., will no longer provide financial support to the Partnership.
On this news, the Partnership's common unit price fell $11.57 per share, or 64%, to close at $6.30 per common unit on July 28, 2021.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.