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Why Golar LNG Dropped 10% Today

TheMotleyFool

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Shares of liquid natural gas transportation company Golar LNG (NASDAQ: GLNG) dropped as much as 12% today before settling down at 10% as of 3:10 p.m. EDT.

This follows a 32% plunge last Thursday after the company commented on news regarding bribery allegations involving previous work of the chief executive officer of Hygo Energy Transitions, a joint-venture between Golar and private equity firm Stonepeak Infrastructure Partners. Hygo, which was scheduled to have its initial public offering (IPO) on Friday, postponed the offering.

Source Fool.com

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