A securities class action has been filed in the USDC –S.D.N.Y. against Venture Global, Inc. (VG) (“Venture” or the “Company”) on behalf of all persons or entities who purchased or otherwise acquired Venture securities pursuant and/or traceable to the registration statement for the Initial Public Offering (the “IPO”) held between January 24 and 27, 2025 (the “Class Period”).
Venture introduced itself to investors during its initial public offering as having “reshaped the development and construction of liquefied natural gas production,” establishing itself as “a rapidly growing company delivering critical LNG to the world.” Venture describes its approach as “innovative and disruptive,” which is “both scalable and repeatable,” allowing Venture to bring LNG to the global market years faster and at a lower cost.
The claims arises on January 24, 2025, when Venture filed its final prospectus for the Company’s IPO, which was incorporated into the registration statement, and listed for sale 70 million shares of Venture common stock at an offering price of $25.00 per share.
The Complaint alleges that the Defendants’ made false and/or materially misleading information concerning its innovative and disruptive approach, which they stated is both scalable and repeatable, allowing the Company to bring LNG to the global market years faster and at a lower cost. The initial public offering represented to the public that Venture had the customer backing to implement its projects, allowing for the Company to deliver LNG to the world. Contrary to these representations, Venture is currently facing legal challenges from existing large clients, such as BP and Shell, due to delays in supply contracts as Venture commissions its projects. Given the fact that Defendants ability to deliver LNG to the world and to continue development of Venture’s five natural gas liquefication and export projects depends on customer contracts, Defendants’ failure to account for and address these issues caused statements in Venture’s registration statement to be false and/or materially misleading at the time of the initial public offering.
As a result, Venture’s stock price declined from $19.68 per share on February 5, 2025 to $17.48 per share on February 6, 2025.
If you purchased Venture securities pursuant and/or traceable to the registration statement for the IPO held between January 24 and 27, 2025, and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.