NEW YORK, Nov. 25, 2023 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Reconnaissance Energy Africa Ltd. (“Reconnaissance” or the “Company”) (OTCMKTS: RECAF). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Reconnaissance and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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Between June 24, 2023 and September 7, 2023, Viceroy Research (“Viceroy”) published a series of reports scrutinizing ReconAfrica’s operations and alleging that the Company was engaged in various forms of undisclosed impermissible or otherwise problematic conduct. According to the Viceroy reports, ReconAfrica was engaged in or intended to engage in fracking in ecologically sensitive areas, unlicensed drilling test, the illegal storage of water in unlined pools, and the use of inadequate and inappropriate consultants in connection with its operations. Viceroy further alleged that ReconAfrica has continuously engaged in stock pumping. Following the publication of the Viceroy reports, ReconAfrica’s stock price fell sharply, damaging investors.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980
SOURCE Pomerantz LLP
