Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces the Filing of a Securities Class Action on Behalf of Höegh LNG Partners LP (HMLP) Investors

Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, announces that a class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Höegh LNG Partners LP (“Höegh LNG” or the “Company”) (NYSE: HMLP) securities between August 22, 2019 and July 27, 2021, inclusive (the “Class Period”). Höegh LNG investors have until December 27, 2021 to file a lead plaintiff motion.

If you suffered a loss on your Höegh LNG investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/hoegh-lng-partners-lp/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.

On July 27, 2021, after the market closed, the Company announced that it had cut its quarterly common unit distribution by 98% in order to conserve cash to address near-term refinancing issues. Specifically, Höegh LNG disclosed the collapse of the Company's refinancing plans for its FSRU Lampung facility, after the charterer of the vessel challenged the Company's new credit facility and the charter agreement with Höegh LNG and announced its intent to commence arbitration to terminate the charter and/or seek damages from the Company. Höegh LNG also announced that its parent company, Höegh LNG Holdings, will no longer provide financial support to the Company.

On this news, the Company’s stock price fell $11.57 per share, or approximately 64%, to close at $6.30 per share on July 28, 2021, thereby injuring investors.

The complaint filed in the class action alleges that, throughout the Class Period, the defendants made false and/or misleading statements and/or failed to disclose that: (1) Höegh LNG was facing issues with the PGN FSRU Lampung charter; (2) as a result, the PGN FSRU Lampung charterer would state that it would commence arbitration to declare the charter null and void, and/or to terminate the charter, and/or seek damages; (3) Höegh LNG would need to find alternative refinancing for its PGN FSRU Lampung credit facility; (4) the PGN FSRU Lampung credit facility matured in September 2021, not October 2021 as previously stated; (5) Höegh LNG would be forced to accept less favorable refinancing terms with regards to the PGN FSRU Lampung credit facility; (6) Höegh LNG Holdings would not extend the revolving credit line to Höegh LNG past its maturation date; (7) Höegh LNG Holdings would reveal that it "will have very limited capacity to extend any additional advances to [Höegh LNG] beyond what is currently drawn under the facility"; (8) as a result of the foregoing, Höegh LNG would essentially end distributions to common units holders; (9) the COVID-19 pandemic was not the sole or root cause of Höegh LNG's issues in Indonesia, in 2019, before the pandemic, there were already a very low amount of demand in Indonesia for Höegh LNG’s gas; (10) the auditing, tax, nor maintenance of PGN FSRU Lampung were not the sole or root cause(s) of the Partnership's issues in Indonesia; and (11) as a result, defendants' statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

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If you purchased or otherwise acquired Höegh LNG securities during the Class Period, you may move the Court no later than December 27, 2021 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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