Oct 20, 2021 | Blog
Securities Class Action Investigation On Behalf Of Investors Of Höegh LNG Partners LP
Kehoe Law Firm, P.C. is investigating whether Höegh LNG Partners LP (“Höegh” or the “Company”) (NYSE: HMLP) violated federal securities laws.
The investigation concerns whether Höegh made false and/or misleading statements to investors about its financial condition.
On July 27, 2021, Höegh “. . . announced that its Board of Directors . . . reduced [Höegh’s] quarterly cash distribution to $0.01 per common unit, down from a distribution of $0.44 per common unit in the first quarter of 2021, commencing with the distribution for the second quarter of 2021 payable on August 13, 2021 to common unitholders of record as of the close of business on August 6, 2021.”
The Company stated that it “. . . needs to conserve its internally generated cash flows to resolve issues related to the ongoing refinancing of the PGN FSRU Lampung credit facility as described below. [Höegh] thereafter expects to use its internally generated cash flow to reduce debt levels and strengthen its balance sheet.”
Höegh also reported that it “. . . received notice from Höegh LNG Holdings Ltd that the revolving credit line of $85 million will not be extended when it matures on January 1, 2023, and that Höegh LNG Holdings Ltd will have very limited capacity to extend any additional advances to [Höegh] beyond what is currently drawn under the facility. In addition, following the consummation of an amalgamation by Höegh LNG Holdings Ltd which closed on May 4, 2021, some provisions of the omnibus agreement entered into in connection with the IPO, terminated in accordance with their terms. With these recent changes, [Höegh’s] liquidity and financial flexibility will be reduced. In light of these factors, as well as current conditions in the FSRU market, which may heighten re-contracting risk, the Board of Directors believes that [Höegh] should use its internally generated cash flow to reduce debt levels and strengthen its balance sheet.” [Emphasis added.]
On this news, Höegh’s stock price dropped $11.57 per share, or approximately 65%, thereby injuring investors.
IF YOU INVESTED IN HÖEGH LNG PARTNERS LP AND WISH TO DISCUSS KEHOE LAW FIRM’S CLASS ACTION INVESTIGATION OR HAVE QUESTIONS ABOUT POTENTIAL LEGAL CLAIMS, PLEASE COMPLETE KEHOE LAW FIRM’S SECURITIES CLASS ACTION QUESTIONNAIRE OR CONTACT EITHER JOHN KEHOE, ESQ., (215) 792-6676, EXT. 801, [email protected], OR MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected].
Sep 23, 2021 | Blog
Eargo Investors With Financial Losses Greater Than $50,000 Encouraged To Contact Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is investigating whether Eargo, Inc. (“Eargo” or the “Company”) (NASDAQ: EAR) violated federal securities laws.
Post-market on September 22, 2021, Eargo disclosed that the Company “ . . . was informed that it is the target of a criminal investigation by the U.S. Department of Justice . . . related to insurance reimbursement claims the Company has submitted on behalf of its customers covered by federal employee health plans.” [Emphasis added.]
On this news, shares of Eargo were down over 70% during intraday trading on September 23, 2021, thereby injuring EAR investors.
EARGO INVESTORS WITH LOSSES GREATER THAN $50,000 WHO WISH TO DISCUSS KEHOE LAW FIRM’S SECURITIES CLASS ACTION INVESTIGATION OR HAVE QUESTIONS ABOUT POTENTIAL LEGAL CLAIMS SHOULD CONTACT EITHER JOHN KEHOE, ESQ., (215) 792-6676, EXT. 801, [email protected], OR MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected].
Sep 15, 2021 | Blog
Boston Beer Company Investors Who Acquired Boston Beer Company Securities Between April 22, 2021 And September 8, 2021, Both Dates Inclusive (the “Class Period”), And Suffered Financial Losses Greater Than $100,000 Encouraged To Contact Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is making investors of The Boston Beer Company (“Boston Beer” or the “Company”) (NYSE: SAM) that on September 14, 2021, a class action lawsuit was filed against the Company in United States District Court, Southern District of New York, on behalf of persons and entities that purchased, or otherwise acquired, Boston Beer securities between April 22, 2021 and September 8, 2021, inclusive (the “Class Period”). The class action Plaintiff is pursuing claims against the Boston Beer Defendants under the Securities Exchange Act of 1934.
According to the class action complaint, throughout the Class Period, the Boston Beer Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects.
The Boston Beer Defendants, allegedly, failed to disclose to investors that (1) Boston Beer’s hard seltzer sales were decelerating; (2) as a result, Boston Beer was reasonably likely to incur inventory write-offs; (3) the Company was reasonably likely to incur shortfall fees payable to third party brewers; (4) as a result of the foregoing, Boston Beer’s financial results would be adversely impacted; and (5) as a result of the foregoing, the Boston Beer Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
BOSTON BEER INVESTORS WHO ACQUIRED THE COMPANY’S SECURITIES DURING THE CLASS PERIOD AND SUFFERED LOSSES GREATER THAN $100,000 ARE ENCOURAGED TO COMPLETE KEHOE LAW FIRM’S SECURITIES CLASS ACTION QUESTIONNAIRE OR CONTACT JOHN KEHOE, ESQ., (215) 792-6676, EXT. 801, [email protected], [email protected], TO DISCUSS THE CLASS ACTION INVESTIGATION OR POTENTIAL LEGAL CLAIMS.
Sep 13, 2021 | Blog
PaySign, Inc. Investors Who Have Held PAYS Stock Continuously Since At Least March 12, 2019 Encouraged To Contact Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is investigating whether certain officers and/or directors of PaySign, Inc. (“PaySign” or the “Company”) (NASDAQ: PAYS) breached their fiduciary duties to PaySign and the Company’s shareholders.
The investigation concerns, among other things, whether PaySign made false and/or misleading statements to investors, resulting in a significant decline in PaySign’s common stock price.
IF YOU HAVE HELD PAYSIGN (NASDAQ: PAYS) STOCK CONTINUOUSLY SINCE AT LEAST MARCH 2019 AND WISH TO DISCUSS KEHOE LAW FIRM’S INVESTIGATION OR HAVE QUESTIONS ABOUT YOUR POTENTIAL LEGAL RIGHTS, PLEASE CONTACT EITHER JOHN KEHOE, ESQ., (215) 792-6676, EXT. 801, [email protected], OR MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], TO LEARN MORE ABOUT THE INVESTIGATION OR POTENTIAL LEGAL CLAIMS.
Sep 10, 2021 | Blog
Merger Investigation On Behalf Of Investors Of Finance of America Companies Who Were Replay Acquisition Corp Shareholders
Kehoe Law Firm, P.C. is investigating whether certain officers and/or directors of Replay Acquisition Corp (“Replay” or the “Company”) (NYSE: RPLA) received greater benefits than Replay investors, as a result of the Company’s merger with Finance of America Companies Inc. (“Finance of America”) (NYSE: FOA).
The investigation concerns whether Replay’s board of directors or senior management failed to manage Replay in an acceptable manner, in breach of their fiduciary duties to the Company’s shareholders, and whether Replay’s shareholders suffered damages as a result.
On October 12, 2020, Replay executed a merger agreement with the predecessor to Finance of America, with a January 28, 2021, record date for the shareholder vote. On April 1, 2021, the merger transaction closed, with Finance of America continuing as the successor entity.
On August 12, 2021, Finance of America announced quarterly earnings, including a drop in mortgage originations and a narrower gain on sale margins, dropping the stock price to $5.33/share.
IF YOU WERE A REPLAY ACQUISITION SHAREHOLDER AND WISH TO DISCUSS KEHOE LAW FIRM’S INVESTIGATION OR HAVE QUESTIONS ABOUT YOUR POTENTIAL LEGAL RIGHTS, PLEASE CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], TO LEARN MORE ABOUT THE INVESTIGATION OR POTENTIAL LEGAL CLAIMS.
Sep 9, 2021 | Blog
Merger Investigation On Behalf Of Former Netfin Acquisition Investors
Kehoe Law Firm, P.C. is investigating whether certain officers and/or directors of Netfin Acquisition Corp. (“Netfin Acquisition” or the “Company”) (NASDAQ: NFIN) received greater benefits than Netfin Acquisition investors, as a result of the Company’s merger with Triterras, Inc. (“Triterras”) (NASDAQ: TRIT).
The investigation concerns whether Netfin Acquisition’s board of directors or senior management failed to manage Neftin Acquisition in an acceptable manner, in breach of their fiduciary duties to the Company’s shareholders, and whether Netfin Acquisition’s shareholders suffered damages as a result.
On July 29, 2020, Netfin Acquisition executed a merger agreement with the predecessor to Triterras, with an October 12, 2020 record date for the shareholder vote. On November 11, 2020, the merger transaction closed, with Triterras continuing as the successor entity.
On December 17, 2020, Triterras announced that Rhodium Resources, a company with close ties to Triterras, received a statutory demand from one of its creditors. Triterras disclosed that Rhodium had been instrumental in Triterras’s launch of its Kratos trading platform. On January 15, 2021, an analyst released a report on Triterras, alleging that nearly all of the trading on Triterras’s platform is with related parties.
IF YOU WERE A NETFIN ACQUISITION SHAREHOLDER AND WISH TO DISCUSS KEHOE LAW FIRM’S INVESTIGATION OR HAVE QUESTIONS ABOUT YOUR POTENTIAL LEGAL RIGHTS, PLEASE CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], TO LEARN MORE ABOUT THE INVESTIGATION OR POTENTIAL LEGAL CLAIMS.
