According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose:
- ReconAfrica’s plan for using unconventional means for energy extraction (including fracking) in the fragile Kavango area;
- that ReconAfrica would begin unlicensed drilling tests;
- that ReconAfrica would illegally use water for well testing;
- that ReconAfrica would illegally store used water in unlined pools;
- that ReconAfrica would skirt Namibian law and hire an inadequate and inappropriate consultant;
- that, as a result, ReconAfrica risked future well, drilling, and water-related licenses in Namibia and Botswana;
- that, 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;
- that ReconAfrica’s interests are in the Owambo Basin, not the so-called Kavango Basin;
- that ReconAfrica has continuously engaged in stock pumping; and
- as a result of the foregoing, defendants’ public statements were materially false and/or misleading at all relevant times.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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