The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Eastern District of New York on behalf of investors who purchased Reconnaissance Energy Africa Ltd. f/k/a Lund Enterprises Corp. (Other OTC: RECAF) securities between February 28, 2019 and September 7, 2021.
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.
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.
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