An investigation was announced over potential breaches of fiduciary duties by certain officers and directors at Höegh LNG Partners LP.
Investors who purchased shares of Höegh LNG Partners LP (NYSE: HMLP) have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain Höegh LNG Partners directors breached their fiduciary duties and caused damage to the company and its shareholders.
Bermuda based Höegh LNG Partners LP focuses on owning, operating, and acquiring floating storage and regasification units (FSRUs), liquefied natural gas (LNG) carriers, and other LNG infrastructure assets under long-term charters.
Höegh LNG Partners LP reported that its annual Total Revenue declined from $145.43 million in 2019 to $143.09 million in 2020, and that its Net Income increased from $52.74 million in 2019 to $63.14 million in 2020.
On July 27, 2021, after trading hours, Höegh LNG Partners LP announced that it had reduced its quarterly common unit distribution by 98% to preserve cash. Höegh LNG Partners LP also revealed its refinancing plans for the PGN FSRU Lampung facility collapsed after the charterer of the vessel announced plans to enter arbitration to terminate the charter. Further, Höegh LNG Partners LP announced that its parent company, Höegh LNG Holdings Ltd., will no longer provide financial support to the Company.
Shares of Höegh LNG Partners LP (NYSE: HMLP) declined from $18.17 per share on June 25, 2021, to as low as $4.85 per share on August 09, 2021.
Those who purchased shares of Höegh LNG Partners LP (NYSE: HMLP) have certain options and should contact the Shareholders Foundation.
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This release was published on openPR.