Gross Law Firm Files Securities Class Action for Venture Global, Inc. Shareholders

NEW YORK, Feb. 20, 2025 (GLOBE NEWSWIRE) -- The Gross Law Firm has issued an important notice for shareholders of Venture Global, Inc. (VG).

Shareholders who acquired shares of VG during the specified class period are strongly encouraged to reach out to the firm for potential lead plaintiff appointments. Please note that being appointed as lead plaintiff is not necessary to receive any recovery related to this securities class action.

Class Period Details

This lawsuit concerns all shareholders who purchased stock through Venture's registration statement related to the initial public offering, which took place around January 24, 2025.

Allegations Against Venture Global

The complaint asserts that Venture completed its initial public offering on January 27, 2025, during which they offered 70 million shares priced at $24.00 each. However, on February 5, 2025, TotalEnergies, a significant potential client for Venture, declined the opportunity to enter into a long-term contract, citing trust issues. The CEO of TotalEnergies indicated that after discussions with Venture regarding a supply contract for liquefied natural gas from the Calcasieu Pass terminal in Louisiana, the offer was rejected due to concerns over Venture's operations.

Currently, Venture is facing legal hurdles from major clients such as BP and Shell, attributed to delays in fulfilling supply agreements as the company works on commissioning its projects. The ability of Venture to deliver liquefied natural gas (LNG) and to further develop its five natural gas liquefication and export projects hinges on securing customer contracts. The failure to fully acknowledge these challenges has allegedly rendered statements in Venture's registration statement false and misleading during the IPO.

Important Deadline

Shareholders should act promptly, as the deadline to register for participation in this class action is April 18, 2025. To register, please use the following link: Registration Link.

Next Steps for Shareholders

By registering as a shareholder who purchased shares of VG during the designated timeframe, you will gain access to a portfolio monitoring service. This service provides updates throughout the case's progression. Remember, there is no cost or obligation to participate in this action.

Why Choose the Gross Law Firm?

The Gross Law Firm is a well-known national class action firm dedicated to protecting the rights of investors affected by deceitful business practices. The firm actively seeks redress for investors who faced losses from misleading statements or the omission of critical information that led to the artificial inflation of a company's stock. Please note that prior results do not guarantee similar outcomes for future cases.

Contact Information

To get in touch with the Gross Law Firm, you may reach them at:

The Gross Law Firm
15 West 38th Street, 12th Floor
New York, NY 10018
Email: [email protected]
Phone: (646) 453-8903

lawsuit, classaction, securities