AmericasFinance and InsuranceOffshore
Höegh LNG faces investor wrath over incorrect financial statements
News yesterday that Höegh LNG Partners has decided to restate its financial results for the whole of 2013, 2014 and the first quarter of 2015 sent its share price spiralling downwards and has nudged some investors to sue the company.
Höegh LNG Partners said the need to restate its financial statements was because it “has been reviewing its accounting treatment for certain Indonesian withholding and value added tax payments”.
Law offices in the US are now asking investors to pursue claims against Höegh LNG Partners claiming possible violations of federal securities laws in connection with false and/or misleading financial statements.