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New York, New York--(Newsfile Corp. - November 30, 2021) - The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Reconnaissance Energy Africa Ltd. f/k/a Lund Enterprises Corp. (OTCQX: RECAF) alleging that the Company violated federal securities laws.
Class Period: February 28, 2019 to September 7, 2021
Lead Plaintiff Deadline: December 27, 2021
No obligation or cost to you.
Learn more about your recoverable losses in RECAF:
Reconnaissance Energy Africa Ltd. f/k/a Lund Enterprises Corp. NEWS - RECAF NEWS
CLASS ACTION CASE DETAILS: The filed complaint alleges that Reconnaissance Energy Africa Ltd. f/k/a Lund Enterprises Corp. made materially 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.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in ReconAfrica you have until December 27, 2021 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased ReconAfrica securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/106045