BROG Investors Have Opportunity to Lead Brooge Energy Limited Securities Fraud Lawsuit

LOS ANGELES, March 12, 2024 /PRNewswire/ -- Glancy Prongay & Murray LLP ("GPM") announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Brooge Energy Limited f/k/a Brooge Holdings Limited f/k/a Twelve Seas Investment Company ("Brooge" or the "Company") (NASDAQ: BROG).

Class Period: November 25, 2019 – December 21, 2023

Lead Plaintiff Deadline: April 5, 2024

If you wish to serve as lead plaintiff of the Brooge lawsuit, you can submit your contact information at www.glancylaw.com/cases/Brooge-Energy-Limited/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [email protected] to learn more about your rights.

The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors that: (1) Brooge materially overstated its revenues because it never received any revenues from 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 no knowledge of the fraud; (3) Brooge intentionally lied to its auditors and the Securities and Exchange Commission about its fraudulent activities; (4) Brooge lacked internal controls; and (5) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

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To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com.  If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

SOURCE Glancy Prongay & Murray LLP