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Brooge Energy Limited

BROG NEWS: Johnson Fistel Encourages Brooge Energy Investors to Seek Counsel Before Lead Plaintiff Class Action Deadline

Johnson Fistel, LLP notifies investors of Brooge Energy Limited (NASDAQ: BROG) that a securities class action lawsuit has been filed.

The complaint alleges Brooge made misleading statements and failed to disclose that it: (1) overstated revenues because it never received any revenues from related party A1 Brooge International Advisory LLC (“BIA”), as well as from another fake customer (“Customer A”); (2) engaged in a complex pattern of payments with BIA to create the illusion of revenues from BIA and another customer who had no knowledge of the fraud; (3) intentionally lied to its auditors and the SEC about its fraudulent activities; and (4) lacked internal controls.

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The lawsuit seeks to recover losses on behalf of investors who acquired securities between November 25, 2019 and December 21, 2023. Investors have until April 5, 2024, to apply to the Court to be appointed as lead plaintiff in the lawsuit.

What can Investors Do: Shareholders who incurred losses during the class period, have until April 5, 2024, to move the court to become a lead plaintiff in this action. A lead plaintiff will act on behalf of all other class members in directing the class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor’s ability to share any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff.

About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com.

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Johnson Fistel, LLP has paid for the dissemination of this promotional communication, and Frank J. Johnson is the attorney responsible for its content.

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