NEW YORK, NY / ACCESSWIRE / November 22, 2020 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Berry Corporation ("Berry" or "the Company") (NASDAQ:BRY). Investors who purchased Berry securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/bry.
The investigation concerns whether Berry and certain of its officers and/or directors have violated federal securities laws.
On or around July 30, 2018, Berry completed its initial public offering ("IPO"), selling approximately 12.2 million shares priced at $14.00 per share. On November 3, 2020, post-market, Berry reported its financial and operating results for the third quarter of 2020. Among other results, Berry reported non-GAAP EPS and revenue that both fell short of estimates. In addition, Berry reported that during the quarter, "the Company undertook certain operational improvements that caused temporary reductions in our production. Notably, we performed some plugging and abandonment activity that resulted in temporary shut-in of nearby wells. Additionally, improved steam management reduced overall costs but temporarily increased water disposal and well maintenance needs, resulting in a slight decrease in production." On this news, Berry's stock price fell $0.15 per share, or 5.28%, to close at $2.69 per share on November 4, 2020.
If you are aware of any facts relating to this investigation, or purchased Berry shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/bry. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
SOURCE: Bronstein, Gewirtz and Grossman, LLC