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TME, FB & HMLP – Class Actions: Bronstein, Gewirtz & Grossman, LLC

Bronstein, Gewirtz & Grossman, LLC
·4-min read

NEW YORK, Nov. 30, 2021 (GLOBE NEWSWIRE) -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can review a copy of the Complaints by visiting the links below or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss, you can request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Tencent Music Entertainment Group (NYSE: TME)
Class Period: March 22, 2021 - March 29, 2021
Deadline: December 27, 2021
For more info: www.bgandg.com/tme.
The complaint alleges that throughout the Class Period, Goldman Sachs and Morgan Stanley sold a large amount of Tencent shares while in possession of material, non-public information about Archegos and its need to fully liquidate its position in the Company because of margin call pressure. As a result of these sales, Defendants Goldman Sachs and Morgan Stanley avoided billions in losses combined.

Facebook, Inc. (NASDAQ: FB)
Class Period: November 3, 2016 - October 4, 2021
Deadline: December 27, 2021
For more info: www.bgandg.com/fb.
The complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Facebook misrepresented its user growth; (2) Facebook knew, or should have known, that duplicate accounts represented a greater portion of its growth than stated, and it should have provided more detailed disclosures as to the implication of duplicate accounts to Facebook’s user base and growth; (3) Facebook did not provide a fair platform for speech, and regularly protected high profile users via its Cross Check/XCheck system; (4) despite being aware of their use of Facebook’s platforms, the Company failed to respond meaningfully to drug cartels, human traffickers, and violent organizations; (5) Facebook has been working to attract preteens to its platform and services; and (6) as a result, Defendants’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

Höegh LNG Partners LP (NYSE: HMLP)
Class Period: August 22, 2019 - July 27, 2021
Deadline: December 27, 2021
For more info: www.bgandg.com/hmlp.
The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose: (1) Höegh LNG Partners LP (the "Partnership") was facing issues with the PGN FSRU Lampung charter; (2) 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; (3) the Partnership would need to find alternative refinancing for its PGN FSRU Lampung credit facility; (4) the PGN FSRU Lampung credit facility matured in September 2021, not October 2021 as previously stated; (5) the Partnership would be forced to accept less favorable refinancing terms with regards to the PGN FSRU Lampung credit facility; (6) Höegh LNG would not extend the revolving credit line to the Partnership past its maturation date; (7) 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"; (8) as a result of the foregoing, the Partnership would essentially end distributions to common units holders; (9) 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; (10) the auditing, tax, nor maintenance of PGN FSRU Lampung were not the sole or root cause(s) of the Partnership's issues in Indonesia; and (11) as a result, defendants' statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
212-697-6484 | info@bgandg.com