New York, New York – (Newsfile Corp. – November 7, 2021) – The following statement is released by Levi & Korsinsky, LLP:
To: All persons or entities who have purchased or otherwise acquired securities of Reconnaissance Energy Africa Ltd. f / k / a Lund Enterprises Corp. (“ReconAfrica”) (OTCQX: RECAF) between February 28, 2019 and September 7, 2021. You are hereby notified that a securities class action lawsuit has been brought in the United States District Court for the Eastern District of New York. For more information, visit:
or contact Joseph E. Levi, Esq. either by email at [email protected] or by phone at (212) 363-7500. There is no cost or obligation for you.
Recognition Energy Africa Ltd. f / k / a Lund Enterprises Corp. NEWS – RECAF NEWS
CASE DETAILS: According to the complaint filed: (1) ReconAfrica’s plan for the use of unconventional means for energy extraction (including hydraulic fracturing) in the fragile zone of Kavango; (2) ReconAfrica would start drilling tests without a license; (3) ReconAfrica would illegally use water to test wells; (4) ReconAfrica would illegally store wastewater in uncoated swimming pools; (5) ReconAfrica would circumvent Namibian law and hire an inadequate and inappropriate consultant; (6) as a result, ReconAfrica risked future wells, boreholes and water related permits in Namibia and Botswana; (7) Contrary to its statements, ReconAfrica did not reach out or provide adequate information (including in relevant local languages) in means accessible to those who would be affected by its testing and potential energy extraction. ; (8) ReconAfrica’s interests lie in the Owambo Basin, not in what is called the Kavango Basin; (9) ReconAfrica has continuously engaged in stockpumping; and (10) because of the foregoing, the defendants’ public statements were materially false and / or misleading at all material times.
WHAT THIS MEANS FOR SHAREHOLDERS: If you have suffered a claim in ReconAfrica, you have up to December 27, 2021 ask the Court to appoint you as the principal plaintiff. Your ability to participate in any recovery does not require you to serve as the principal applicant.
NO COT FOR YOU: If you purchased ReconAfrica securities between February 28, 2019 and September 7, 2021, you may be entitled to compensation without payment of any fees or charges.
PROTECT YOUR FINANCIAL INTERESTS: Fill out this brief submission form https://www.zlk.com/pslra-1/reconnaissance-energy-africa-ltd-fka-lund-enterprises-corp-loss-submission-form?prid=20928&wire=5 or call 212-363-7500 to discuss the case with Joseph E. Levi, Esq.
WHY LEVI & KORSINSKY: Levi & Korsinsky have a proven track record of winning cases worth hundreds of millions of dollars to shareholders over a 20-year period. We represent and fight for shareholders who have been wronged by companies.
Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut and Washington, DC The firm’s founding partners, Joseph Levi and Eduard Korsinsky, have represented shareholders and institutional clients since nearly 20 years and have achieved remarkable results for clients in the United States and abroad. The firm, which has more than 80 employees, is committed to fostering, cultivating and preserving a culture of diversity, equity and inclusion for employees and those we represent. Our lawyers have extensive expertise in representing investors in securities litigation with a history of recovering hundreds of millions of dollars in cases. Levi & Korsinsky has been ranked in the Institutional Shareholder Services (âISSâ) SCAS Top 50 report for 7 consecutive years as the best securities litigation firm in the United States. The SCAS Top 50 report identifies the leading plaintiff securities law firms in the country, and year after year ISS has recognized Levi & Korsinsky as a leading firm in the field of securities class actions.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/102358