BROG - Brooge Energy (BROG) Plummets After SEC Finds Fraudulent Revenue Recognition – Hagens Berman | Benzinga
SAN FRANCISCO, Dec. 29, 2023 (GLOBE NEWSWIRE) -- Hagens Berman urges Brooge Energy Limited (NASDAQ:BROG) investors who suffered substantial losses to submit your losses now.
| Visit: www.hbsslaw.com/investor-fraud/brog |
| Contact An Attorney Now: |
| BROG@hbsslaw.com |
| 844-916-0895 |
Brooge Energy Limited (BROG) Investigation:
"We are investigating whether Brooge's C-Suite may have intentionally cooked its books to go public," said Reed Kathrein, the Hagens Berman partner leading the firm's investigation.
On Dec. 22, 2023, the SEC issued a cease-and-desist order against Brooge, its former CEO (Nicolaas Lammert Paardenkooper), and its former Chief Strategy Officer and former Interim CEO (Lina Saheb). The SEC found, in part that: (1) before and after going public through a SPAC merger, Brooge misstated between 30 and 80 percent of its revenues from 2018 through early 2021; (2) Brooge created false invoices to support inflating revenues from its oil facilities in ...
BROG) Plummets After SEC Finds Fraudulent Revenue Recognition – Hagens Berman>Full story available on Benzinga.com