HMLP Investor Alert: Shareholder Class Action Lawsuit Filed

·3 min read

Boston, Massachusetts--(Newsfile Corp. - November 30, 2021) - The Thornton Law Firm alerts investors who purchased Höegh LNG Partners LP securities (NYSE: HMLP) between August 22, 2019 and July 27, 2021 may seek to participate in the case as a Lead Plaintiff. Interested investors may contact the Thornton Law Firm's investor protection team by visiting www.tenlaw.com/cases/HMLP for more information. Investors may also email investors@tenlaw.com or call 617-531-3917. A class action lawsuit has been filed on behalf of investors of HMLP. Investors do not need to be the Lead Plaintiff to recover as class members if the case is successful.

FOR MORE INFORMATION: www.tenlaw.com/cases/HMLP

The case alleges that Höegh LNG Partners LP and its senior executives made misleading statements to investors and failed to disclose that: (i) the Partnership was facing issues with the PGN FSRU Lampung charter; (ii) as a result, the PGN FSRU Lampung charterer would state that it would commence arbitration to declare the charter null and void, and/or to terminate the charter, and/or seek damages; (iii) the Partnership would need to find alternative refinancing for its PGN FSRU Lampung credit facility; (iv) the PGN FSRU Lampung credit facility matured in September 2021, not October 2021 as previously stated; (v) the Partnership would be forced to accept less favorable refinancing terms with regards to the PGN FSRU Lampung credit facility; (vi) Höegh LNG would not extend the revolving credit line to the Partnership past its maturation date; (vii) Höegh LNG would reveal that it "will have very limited capacity to extend any additional advances to the Partnership beyond what is currently drawn under the facility"; (viii) as a result of the foregoing, the Partnership would essentially end distributions to common units holders; (ix) the COVID-19 pandemic was not the sole or root cause of the Partnership's issues in Indonesia, in 2019, before the pandemic, there were already a very low amount of demand in Indonesia for the Partnership's gas; and (x) the auditing, tax, nor maintenance of PGN FSRU Lampung were not the sole or root cause(s) of the Partnership's issues in Indonesia.

Interested HMLP investors have until December 27, 2021 to retain counsel and apply to be a lead plaintiff if they are interested to do so. A lead plaintiff acts on behalf of all other investor class members in managing the class action. Investors do not need to be a lead plaintiff in order to be a class member. If investors choose to take no action, they can remain an absent class member. The class has not yet been certified. Until certification occurs, investors are not represented by an attorney. Thornton Law Firm is not currently representing a plaintiff who filed a complaint but is investigating the case on behalf of investors interested in being a lead plaintiff.

FOR MORE INFORMATION: www.tenlaw.com/cases/HMLP

Thornton Law Firm's securities attorneys are highly experienced in representing investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of investors. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

CONTACT:
Thornton Law Firm LLP
1 Lincoln Street
State Street Financial Center
Boston, MA 02111
www.tenlaw.com/cases/HMLP

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/105910

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