Image from court documents Shareholder Alleges That Energy Company Didn't Disclose Fracking Operation in Africa
Pomerantz and Bronstein, Gewirtz & Grossman filed a securities class action Monday in New York Eastern District Court against Reconnaissance Energy…
December 17, 2021 at 12:10 PM
1 minute read
Securities Litigation
Pomerantz and Bronstein, Gewirtz & Grossman filed a securities class action Monday in New York Eastern District Court against Reconnaissance Energy Africa, or ReconAfrica, and its top executives and representatives. The complaint accuses the defendants of failing to disclose to investors that ReconAfrica would be using fracking as its means of energy extraction in the Kavango area of Namibia. The defendants are also accused of conducting drilling tests without a license, using and storing water illegally and failing to inform the local populace about the extraction project properly. Counsel have not yet appeared for the defendants. The case is 1:21-cv-06864, Huq v. Reconnaissance Energy Africa Ltd. et al.
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