RECONAFRICA UPCOMING DEADLINE: Robbins Geller Rudman & Dowd LLP Announces that Reconnaissance Energy Africa Ltd. f/k/a Lund Enterprises Corp. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit

SAN DIEGO, CA / ACCESSWIRE / December 5, 2021 /Robbins Geller Rudman & Dowd LLP Announces that Reconnaissance Energy Africa Ltd. f / k / a Lund Enterprises Corp. (“ReconAfrica”) (OTCWX: RECAF) (OTCQX: LGDOF) between February 28, 2019 and September 7, 2021 (including the “Reconciliation Period”) has until December 27, 2021 to become the lead plaintiff in the Filing a ReconAfrica class action lawsuit. The ReconAfrica class action lawsuit (Owen v. Reconnaissance Energy Africa Ltd. f / k / a Lund Enterprises Corp., No. 21-cv-06176) pending in the Eastern District of New York charges ReconAfrica and some of its top officials with securities violations Exchange Act of 1934.

If you are the ReconAfrica Class action, Please fill in your information by clicking here. You can also contact a lawyer JC Sanchez from Robbins Geller by phone at 800 / 449-4900 or by email at jsanchez@rgrdlaw.com. Main plaintiff motions for the ReconAfrica The class action must be filed with the court no later than December 27, 2021.

CASE ALLEGATIONS: ReconAfrica purports to be involved in the identification, exploration and development of oil and / or gas reserves in Namibia and Botswana, including the Kalahari Desert and other fragile areas.

ReconAfrica’s class action alleges that during the collection period the defendants made false and misleading statements and failed to disclose: (i) ReconAfrica’s plan to use unconventional means of generating energy (including fracking) in the fragile Kavango region; (ii) that ReconAfrica would begin unlicensed drilling tests; (iii) that ReconAfrica would illegally use water for well testing; (iv) ReconAfrica is storing illegally used water in unlined pools; (v) that ReconAfrica would circumvent Namibian law and hire an inappropriate and inappropriate advisor; (vi) that ReconAfrica thereby risks future drilling, drilling and water-related licenses in Namibia and Botswana; (vii) that, contrary to what it represents, ReconAfrica did not provide adequate information (including in relevant local languages) in an accessible manner to those affected by its testing and potential energy generation; (viii) that ReconAfrica’s interests are in the Owambo Basin, not the so-called Kavango Basin; (ix) that ReconAfrica has been continuously engaged in resource recovery; and (x) as a result of the foregoing, Defendants’ public statements at all relevant times have been materially false and / or misleading.

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THE LEAD APPLICANT PROCESS: The Private Securities Litigation Reform Act of 1995 allows any investor who has purchased ReconAfrica securities during the class action period to seek appointment as the lead plaintiff in the ReconAfrica class action. A lead plaintiff is generally the applicant with the greatest financial interest in the legal protection sought by the alleged class, which is also typical and appropriate for the alleged class. A lead plaintiff is acting on behalf of all the other group members in leading the ReconAfrica class action lawsuit. The lead plaintiff can choose a law firm of their choice to bring the ReconAfrica class action lawsuit. An investor’s ability to participate in a possible future recovery of the ReconAfrica class action lawsuit does not depend on being the lead plaintiff.

ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: With 200 attorneys in 9 offices across the country, Robbins Geller Rudman & Dowd LLP is the largest US law firm serving investors in securities class actions. Robbins Geller’s attorneys have won many of the largest shareholder recoveries in history, including the largest securities class action of all time – $ 7.2 billion – in In re Enron Corp. Sec. Lit. The 2020 ISS Securities Class Action Services Top 50 Report ranked Robbins Geller in first place for reclaiming $ 1.6 billion for investors last year, more than double the amount made by any other securities plaintiff firm was drafted. More information is available at http://www.rgrdlaw.com.

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Contact:

Robbins Geller Rudman & Dowd LLP
655 W. Broadway, San Diego, CA 92101
JC Sanchez, 800-449-4900
jsanchez@rgrdlaw.com

SOURCE: Robbins Geller Rudman & Dowd LLP

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