LOS ANGELES, Aug. 13, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Höegh LNG Partners LP ("Höegh" or the "Company") (NYSE: HMLP) investors that the firm has initiated an investigation into possible securities fraud, and may file a class action on behalf of investors.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: firstname.lastname@example.org, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
After the market closed on July 27, 2021, Höegh announced that it had cut its quarterly common unit distribution by 98% for the purpose of conserving cash to address near-term refinancing issues. Specifically, Höegh disclosed the collapse of the Company's refinancing plans in regard to its FSRU Lampung facility, after the charterer of the vessel challenged Höegh’s new credit facility and the charter agreement with Höegh, announcing its intent to commence arbitration in order to terminate the charter and/or seek damages from Höegh. Höegh also announced that its parent company, Höegh LNG Holdings, will no longer provide financial support to Höegh. Höegh's stock price fell $11.57 per share, or approximately 64%, on this news, to close at $6.30 per share on July 28, 2021, thereby injuring investors.
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