LOS ANGELES, CA / ACCESSWIRE / September 16, 2020 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class-action lawsuit against Energy Recovery, Inc. ("Energy Recovery" or "the Company") (NASDAQ:ERII) for violations of 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission."
Investors who purchased the Company's securities between August 2, 2017 and June 29, 2020 inclusive (the ''Class Period'') are encouraged to contact the firm before September 21, 2020.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Energy Recovery and Schlumberger Technology Corp. ("Schlumberger") had differing strategies with regards to the future of the VorTeq technology. This strategic difference created a considerable risk of early termination of the Company's licensing agreement with Schlumberger. The disagreement resulted in the Company's guidance on future license revenues to be false and lacking a reasonable basis. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Energy Recovery, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
SOURCE: The Schall Law Firm