NEW YORK, NY - (NewMediaWire) - March 01, 2024 - Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) reminds investors that a complaint has been filed on behalf of purchasers or acquirers of the securities of Brooge Energy Limited (“Brooge” or the “Company”) (NASDAQ: BROG) between November 25, 2019 and December 21, 2023, inclusive (the “Class Period”). Click Here to Join Investigation.

If you acquired Brooge securities during the Class Period and would like to discuss our investigation, please click here or contact us by emailing pmayer@kaplanfox.com or by calling (646) 315-9003.

On December 22, 2023, the United States Securities and Exchange Commission ("SEC") announced fraud charges against Brooge, the Company's former Chief Executive Officer ("CEO"), Nicolaas Lammert Paardenkooper, and its former Chief Strategy Officer and Interim CEO, Lina Saheb, as well as an order instituting cease-and-desist proceedings (the "SEC Order" or "Order").  According to the SEC Order, before and after going public through a special purpose acquisition transaction, Brooge misstated between 30 and 80 percent of its revenues from 2018 through early 2021 in SEC filings related to the offer and sale of up to $500 million of securities. Further, the Order asserts that Brooge created false invoices to support inflating revenues from its oil facilities in Fujairah, United Arab Emirates by over $70 million over three years, and that Paardenkooper and Saheb knew, or were reckless in not knowing, of the fraud. The SEC Order also found that Brooge provided these false invoices to its auditors to conceal the inflated revenue. In addition, according to the Order, Brooge agreed during the SEC's investigation not to issue the $500 million in securities.

Following this news, the Company's stock price fell $0.99 per share, or 25%, over the following two trading sessions, to close at $2.97 per share on December 26, 2023.

If you are a member of the proposed Class, you may move the court no later than April 5, 2024 to serve as a lead plaintiff for the purported class.  If you have losses, we encourage you to contact us to learn more about the lead plaintiff process.

WHY CONTACT KAPLAN FOX - Kaplan Fox is a leading national law firm focusing on complex litigation with offices in New York, Oakland, Los Angeles, Chicago and New Jersey.  With over 50 years of experience in securities litigation, Kaplan Fox offers the professional experience and track record that clients demand.  Through prosecuting cases on the federal and state levels, Kaplan Fox has successfully shaped the law through winning many important decisions on behalf of our clients.  For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. 

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If you have any questions about this Notice, your rights, or your interests, please contact:

Pamela A. Mayer

KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(646) 315-9003

E-mail: pmayer@kaplanfox.com

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax:  (415) 772-4707
E-mail: lking@kaplanfox.com