Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Bright Green Corporation (“Bright Green” or the “Company”) (NASDAQ: BGXX) on behalf of Bright Green stockholders. Our investigation concerns whether Bright Green has violated the federal securities laws and/or engaged in other unlawful business practices.
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On June 2, 2022, Green Market Report (“Green Market”) published a report entitled “Bright Green Former CEO Claims Valuation Fraud,” which stated that the Company “involves a burned-down building, a years-long battle with the state of New Mexico, a bankruptcy case, and an angry former CEO who is accusing the company of fraud.” Per the Green Market report’s allegations, John Stockwell, listed as the Company’s CEO in 2017, filed for bankruptcy in the state of New Mexico in 2017. After a greenhouse fire “devastated Stockwell financially,” the report stated that “greenhouses were transferred to Lynn Stockwell,” John Stockwell’s wife and a Bright Green Board member, “who then transferred the property to Bright Green.” In addition, the report stated that Bright Green’s former CEO John Fikany is suing the company, alleging that “Bright Green was a ‘sham, operated illegally and fraudulently’” by the Stockwells.
On this news, Bright Green’s stock price fell $0.56 per share, or 15.56%, to close at $3.04 per share on June 3, 2022.
If you purchased or otherwise acquired Bright Green shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at email@example.com, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
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Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.