New York, New York--(Newsfile Corp. - September 9, 2020) - The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Energy Recovery, Inc. (NASDAQ: ERII) alleging that the Company violated federal securities laws.
Class Period: August 2, 2017 and June 29, 2020
Lead Plaintiff Deadline: September 21, 2020
Learn more about your recoverable losses in ERII:
The filed complaint alleges that Energy Recovery, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) the Company had different strategic perspectives regarding commercialization of the Company's VorTeq technology than Schlumberger Technology Corp., which had exclusive rights to the use of VorTeq (ii) these differences created substantial risk of early termination of the Company's exclusive licensing agreement with Schlumberger; (iii) accordingly, the revenue guidance and expectations of future license revenue was false and lacked reasonable basis; and (iv) as a result, Defendants' public statements were materially false and misleading at all relevant times or lacked a reasonable basis and omitted material facts.
Shareholders have until September 21, 2020 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
For additional information about the ERII lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click the link above.
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
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