BROG - Brooge Energy (BROG) Hit With Securities Class Action After SEC Imposes $5 Million Fine For False Invoice Scheme Inflating Revenue – Hagens Berman | Benzinga

SAN FRANCISCO, Feb. 07, 2024 (GLOBE NEWSWIRE) -- Hagens Berman urges Brooge Energy Limited (NASDAQ:BROG) investors who suffered substantial losses to submit your losses now.

Class Period: Nov. 25, 2019 – Dec. 21, 2023
Lead Plaintiff Deadline: Apr. 5, 2024
Visit: www.hbsslaw.com/investor-fraud/brog
Contact An Attorney Now: BROG@hbsslaw.com
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Brooge Energy Limited (BROG) Securities Fraud Class Action:

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.

Investors learned the truth on Dec. 22, 2023, when ...

BROG) Hit With Securities Class Action After SEC Imposes $5 Million Fine For False Invoice Scheme Inflating Revenue – Hagens Berman>Full story available on Benzinga.com