Finance

Investors Alert: Upcoming Lead Plaintiff Deadline in Securities Class Action Against Brooge Energy Limited

NEW YORK, March 27, 2024 – Investors have been issued a reminder of the upcoming April 5, 2024, lead plaintiff deadline in the securities class action lawsuit initiated by Rosen Law Firm, a renowned global investor rights law firm. This case is particularly significant for individuals who acquired securities of Brooge Energy Limited, formerly known as Brooge Holdings Limited and Twelve Seas Investment Company (NASDAQ: BROG), during the period from November 25, 2019, to December 21, 2023.

An Opportunity for Compensation

Those who purchased Brooge Energy securities within the defined Class Period may be eligible for compensation without the necessity of incurring any out-of-pocket fees or costs through a contingency fee arrangement. This comes as a beacon of hope for investors who feel aggrieved by the company's conduct during the Class Period.

How to Participate in the Brooge Class Action

Investors are urged to take prompt action if they desire to participate in the Brooge class action lawsuit. By visiting Rosen Legal's submission form, affected investors can sign up to join the lawsuit. Alternatively, they can directly reach out to Phillip Kim, Esq., via a toll-free call at 866-767-3653 or through an email at [email protected] for further information on the class action. While a class action lawsuit has been filed, those wishing to serve as the lead plaintiff must move the Court no later than April 5, 2024.

The Expertise of Rosen Law Firm

Selecting the right legal counsel is crucial, and Rosen Law Firm urges investors to make an informed decision. Their track record of leadership roles and success stories sets them apart from many other firms which often act as intermediaries and may lack actual litigation experience in securities class actions. Rosen Law Firm has been at the forefront of investor representation worldwide, focusing its efforts on securities class actions and shareholder derivative litigation. Their accomplishments include achieving the largest ever securities class action settlement against a Chinese Company. Impressively, Rosen Law Firm was ranked No. 1 by ISS Securities Class Action Services for the number of securities class action settlements in 2017 and has consistently been in the top 4 since 2013, recovering hundreds of millions of dollars for investors. In a single year, Rosen secured over $438 million for investors in 2019. Furthermore, Lawrence Rosen, the founding partner, has been recognized as a Titan of Plaintiffs’ Bar by law360.

Allegations of Fraudulent Practices

The lawsuit contends that throughout the Class Period, Brooge Energy made materially false and misleading statements and failed to disclose critical information. Specifically, it is alleged that Brooge significantly overreported its revenues by claiming nonexistent earnings from both Al Brooge International Advisory LLC (BIA) and another supposed customer. A systematic pattern of transactions with BIA was purportedly constructed to generate the illusion of incoming revenue. Furthermore, the company is accused of providing false assurances to both its auditors and the Securities and Exchange Commission regarding these activities. Additionally, the lack of robust internal controls within the company is highlighted as a contributing factor. As a result, statements regarding Brooge Energy's business operations and future prospects were allegedly materially false and misleading, leading to investor losses upon the revelation of these details.

Join the Legal Battle

Investors should be aware that no class has been certified yet, and they are not represented by counsel until they choose to engage one, although they are free to choose their counsel. It is also possible to remain an absentee class member and refrain from taking any action at this point, without affecting one's ability to partake in potential future recoveries. This underscores the importance of making timely decisions to protect one's financial interests in the matter.

Keeping Up with Rosen Law Firm

Investors keen to follow this case and updates on other actions can do so through Rosen Law Firm's social media platforms. These include LinkedIn (The Rosen Law Firm), Twitter (@rosen_firm), and Facebook (Rosen Law Firm).

A Reputation of Excellence

Rosen Law Firm has built its firm on the cornerstones of integrity, reliability, and excellence. Over the years, its attorneys have been recognized by various independent and respected legal sources. Tailoring their practice primarily to cater to securities class actions and shareholder derivative litigation, the firm has continues to set precedents and secure substantial financial recoveries for investors affected by corporate malfeasance.

Invitation for Media Contact

Rosen Law Firm is open to addressing any inquiries from the media regarding this case or other investor-related lawsuits they are handling. The firm extends an invitation for contact, providing media representatives with the contact information for Laurence Rosen, Esq., and Phillip Kim, Esq., at their New York office. They can be reached via phone, toll-free calls, fax, email, or by visiting the firm's website at www.rosenlegal.com.

Conclusion

The investor notice released by Rosen Law Firm serves as an urgent call to all parties affected by the alleged actions of Brooge Energy Limited. With the April 5, 2024, deadline fast approaching, action must be taken swiftly to ensure legal representation and the pursuit of justice. As the class action continues to unfold, investors worldwide will be monitoring the proceedings closely, potentially leading to a milestone in securities litigation.

Disclosure

This news article is presented as an Attorney Advertisement. The content within outlines information pertinent to the involvement of Rosen Law Firm in the Brooge Energy Limited class action lawsuit but should not be taken as a guarantee of a similar outcome in this or any other case.

Media Outreach

The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll-Free: (866) 767-3653 Fax: (212) 202-3827 Email: [email protected] Website: www.rosenlegal.com

SOURCE: THE ROSEN LAW FIRM, P. A.

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