Class Action Reports

RECAF Class Action: Learn About the ReconAfrica Lawsuit

Levi & Korsinsky, LLP

October 28, 2021

Levi & Korsinsky, LLP announces that a RECAF class action lawsuit has been filed on behalf of investors who purchased Reconnaissance Energy Africa Ltd. f/k/a Lund Enterprises Corp.  (RECAF) securities between February 28, 2019, and September 7, 2021. For more on the RECAF Lawsuit please contact us today.

 

Levi & Kowsinsky Securities Class Action Lawyers

 

According to the ReconAfrica lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) ReconAfrica’s plan for using unconventional means for energy extraction (including fracking) in the fragile Kavango area; (2) ReconAfrica would begin unlicensed drilling tests; (3) ReconAfrica would illegally use water for well testing; (4) ReconAfrica would illegally store used water in unlined pools; (5) ReconAfrica would skirt Namibian law and hire an inadequate and inappropriate consultant; (6) as a result, ReconAfrica risked future well, drilling, and water-related licenses in Namibia and Botswana; (7) as opposed to its representations, ReconAfrica did not reach out nor provide adequate information (including in relevant local languages) through accessible means to those to be impacted by its testing and potential energy extraction; (8) ReconAfrica’s interests are in the Owambo Basin, not the so-called Kavango Basin; (9) ReconAfrica has continuously engaged in stock pumping; and (10) as a result of the foregoing, Defendants’ public statements were materially false and/or misleading at all relevant times.

 

TO LEARN MORE ABOUT THE RECAF CLASS ACTION LAWSUIT, CLICK HERE

 

If you suffered a loss in ReconAfrica you have until December 27, 2021, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

 

CONTACT:

Levi & Korsinsky, LLP

Joseph E. Levi, Esq.

55 Broadway, 10th Floor

New York, NY 10006

jlevi@levikorsinsky.com

Tel: (212) 363-7500

Fax: (212) 363-7171

www.zlk.com