Allegheny Technologies Inc
Change company Symbol lookup
Select an option...
ATI Allegheny Technologies Inc
GTLS Chart Industries Inc
STC Stewart Information Services Corp
ARCH Arch Resources Inc
MSFT Microsoft Corp
FCX Freeport-McMoRan Inc
EFX Equifax Inc
CHKP Check Point Software Technologies Ltd
CTXS Citrix Systems Inc
RAKR Rainmaker Worldwide Inc
Go

Materials : Metals & Mining | Small Cap Blend
Company profile

Allegheny Technologies Incorporated is a manufacturer of specialty materials and complex components. The Company operates through two business segments: High Performance Materials & Components (HPMC), and Flat Rolled Products (FRP). The HPMC segment produces, converts and distributes a range of materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, zirconium and related alloys, including hafnium and niobium, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, plus precision forgings, components and machined parts. The FRP segment produces, converts and distributes stainless steel, nickel-based alloys, specialty alloys, and titanium and titanium-based alloys, in a range of product forms, including plate, sheet, engineered strip, and Precision Rolled Strip products.

Price
Delayed
$9.39
Day's Change
0.375 (4.16%)
Bid
--
Ask
--
B/A Size
--
Day's High
9.50
Day's Low
8.83
Volume
(Average)

Today's volume of 1,105,292 shares is on pace to be in-line with ATI's 10-day average volume of 1,518,409 shares.

1,105,292

Lead Plaintiff Deadline Alert: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 Investing In Energy Recovery, Inc. To Contact The Firm

1:12 pm ET September 15, 2020 (Newsfile) Print

New York, New York--(Newsfile Corp. - September 15, 2020) -  Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Energy Recovery, Inc. ("Energy Recovery" or the "Company")(NASDAQ:ERII) of the September 21, 2020 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6455/63810_5948d38aa474fa19_001full.jpg

If you invested in Energy Recovery stock or options between August 2, 2017 and June 29, 2020 and would like to discuss your legal rights, click here: www.faruqilaw.com/ERII. There is no cost or obligation to you.

You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail torgonnello@faruqilaw.com.

CONTACT:

FARUQI & FARUQI, LLP

685 Third Avenue, 26th Floor

New York, NY 10017

Attn: Richard Gonnello, Esq.

rgonnello@faruqilaw.com

Telephone: (877) 247-4292 or (212) 983-9330

The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased Energy Recovery common stock between August 2, 2017 and June 29, 2020 (the "Class Period"). The case, Visser v. Energy Recovery, Inc. et al., No. 20-cv-05647 was filed on July 21, 2020.

In December 2014, the Company launched the VorTeq hydraulic pumping system with the capability of isolating hydraulic fracturing pumps from abrasive proppants that cause pump failure. On October 19, 2015, the Company announced that it had signed a fifteen-year deal with Schlumberger Technology Corp. ("Schlumberger"), which gave Schlumberger the exclusive right to the use of the Company's VorTeq technology (the "Schlumberger Licensing Agreement"). Under the terms of the Schlumberger Licensing Agreement, Schlumberger paid $75 million exclusivity fee and was to pay an additional $50 million milestone payments in 2016. The terms also dictated that Schlumberger would pay continuing annual royalties for the duration of the license agreement, subject to the satisfaction of certain key performance indicators.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose to investors that: (i) the Company and Schlumberger had different strategic perspectives regarding commercialization of VorTeq; (ii) which 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.

On June 29, 2020, the Company issued a press release, announcing the termination of the licensing agreement with Schlumberger, citing to "different strategic perspectives as to the path to VorTeq commercialization." The Company further announced that following the termination, "no further payments will be made by either party" and that "Energy Recovery will now be fully responsible for commercialization of the VorTeq technology globally."

On this news, Energy Recovery's share price fell from $8.91 per share on June 29, 2020 to a closing price of $7.60 on June 30, 2020: a $1.31 or a 14.70% drop.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding Energy Recovery's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/63810

comtex tracking

Earnings Calendar and Events Data provided by |Terms of Use| © 2020 Wall Street Horizon, Inc.

Market data accompanied by is delayed by at least 15 minutes for NASDAQ, NYSE MKT, NYSE, and options. Duration of the delay for other exchanges varies.
Market data and information provided by Morningstar.

Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses.
Please read Characteristics and Risks of Standard Options before investing in options.

Information and news provided by ,, , Computrade Systems, Inc., , and

Copyright © 2020. All rights reserved.