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INVESTOR ALERT: Shareholder Class Action Lawsuit Filed Against Venture Global, Inc. (NYSE: VG); DiCello Levitt LLP Encourages Investors with Losses to Discuss Their Options with Counsel
Globe Newswire 26-Feb-2025 5:16 PM
SAN DIEGO, Feb. 26, 2025 (GLOBE NEWSWIRE) -- A class action lawsuit has been filed on behalf of all persons and entities who purchased Venture Global, Inc. (NYSE:VG) ("Venture Global" or the "Company") common stock pursuant and/or traceable to Venture Global's registration statement for the initial public offering held on or about January 24, 2025 (the "IPO"), charging the Company and certain of its senior executives and directors with violations of the federal securities laws (collectively, "Defendants").
Venture Global investors have until April 18, 2025 to seek appointment as lead plaintiff of the Venture Global class action lawsuit.
If you purchased Venture Global common stock pursuant and/or traceable to the registration statement for the Company's IPO, and you wish to obtain additional information or serve as lead plaintiff in this lawsuit, you may submit your information and contact us here: https://dicellolevitt.com/securities/venture/.
You can also contact DiCello Levitt attorneys Brian O'Mara or Hani Farah by calling (888) 287-9005 or emailing investors@dicellolevitt.com. Those who inquire by email are encouraged to include their mailing address, telephone number, and the number of shares purchased.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice.
Case Allegations
Venture Global is a provider of liquefied natural gas ("LNG"). The Company describes its approach as innovative and disruptive, which is both scalable and repeatable, allowing Venture Global to bring LNG to the global market years faster and at a lower cost.
The Venture Global action lawsuit alleges that the Company completed its IPO pursuant to a false and misleading registration statement. In the IPO materials, Defendants discussed the commissioning, constructing, and developing of five natural gas liquefaction and export projects near the Gulf of Mexico in Louisiana. Venture Global further described each project as designed or being developed to include an LNG facility and associated pipeline systems that interconnect with several interstate and intrastate pipelines to enable the delivery of natural gas into the LNG facility.
On February 5, 2025, TotalEnergies, an energy company that was a target customer of Venture Global, rejected opportunities to become a long-term customer of the Company, citing a lack of trust. In particular, TotalEnergies Chief Executive Officer stated that he was approached by Venture Global to see if the company would be interested in a long-term supply contract for liquefied natural gas, but he rejected the offer stating "I don't want to deal with these guys, because of what they are doing," questioning "How is it possible to pay $1 less than the rest of the market? What is the trick?"
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.
About DiCello Levitt
At DiCello Levitt, we are dedicated to achieving justice for our clients through class action, business-to-business, public client, whistleblower, personal injury, civil and human rights, and mass tort litigation. Our lawyers are highly respected for their ability to litigate and win cases – whether by trial, settlement, or otherwise – for people who have suffered harm, global corporations that have sustained significant economic losses, and public clients seeking to protect their citizens' rights and interests. Every day, we put our reputations – and our capital – on the line for our clients.
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