FirstFire Global Opportunities Fund, LLC v. Venture Global, Inc.

On July 28, 2025, Labaton Keller Sucharow was appointed Lead Counsel in a securities class action against Venture Global, Inc. (Venture Global) and certain of its officers and underwriters (collectively, Defendants).  The lawsuit alleges violations of federal securities laws pursuant to Sections 11, 12(a)(2) and 15 of the Securities Act of 1933 on behalf of all shareholders who purchased stock pursuant to or traceable to the registration statement and prospectus issued in connection with Venture Global’s January 24, 2025, initial public offering (IPO).

Venture Global is an American provider of liquified natural gas (LNG) operating near the U.S. Gulf Coast in Louisiana.  In the registration statement for the IPO, Venture Global’s stock was valued at $25 per share and Venture Global touted its approach as “innovative and disruptive,” as well as “both scalable and repeatable,” allowing the Company to “bring LNG to the global market years faster and at a lower cost.”

According to the Complaint, filed in April 2025, the registration statement for the IPO was inaccurate and misleading, contained untrue statements of material facts, omitted to state other facts necessary to make the statements made not misleading, and omitted to state material facts required to be stated therein.  Specifically, the Complaint alleges that Venture Global’s warnings about volatility of proceeds did not go far enough and failed to include available information about the Company’s fourth quarter earnings results and risks that had already materialized.

On March 6, 2025, Venture Global issued a press release announcing the Company’s financial results for the fourth quarter and the year ended December 31, 2024.  The reporting revealed that the Company missed analysts' estimates, that one of its five LNG projects continued to be hampered by production issues, and that another project had substantially increased its cost estimates.  On this news the price of Venture Global stock fell from $14.20 per share to $9.08 per share on extremely heavy trading volume.

The case is FirstFire Global Opportunities Fund, LLC v. Venture Global, Inc. et al., No. 1:25-cv-04642 (S.D.N.Y.).  Labaton Keller Sucharow represents the Illinois Municipal Retirement Fund.