BROG - BROG CASE ALERT: Robbins LLP Reminds Investors of Pending Lawsuit Against Brooge Energy Limited | Benzinga
SAN DIEGO, Feb. 22, 2024 (GLOBE NEWSWIRE) --
Robbins LLP reminds investors that a shareholder filed a class action on behalf of all persons and entities that purchased or otherwise acquired Brooge Energy Limited (NASDAQ:BROG) stock between November 25, 2019 and December 21, 2023. Brooge Energy Limited, through its subsidiaries, provides oil storage and related services at the Port of Fujairah in the United Arab Emirates.
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The Allegations: According to the complaint, during the class period, defendants failed to disclose that: (1) Brooge materially overstated its revenues because it never received any revenues from A1 Brooge International Advisory LLC ("BIA"), as well as another fictitious customer; (2) Brooge engaged in a complex pattern of payments with BIA to create the illusion of revenues from BIA and another customer that had ...