Federal National Mortgage Association
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Financials : Thrifts & Mortgage Finance | Small Cap Value
Company profile

Federal National Mortgage Association is a government-sponsored enterprise chartered by Congress. The Company serves as a source of liquidity for purchases of homes and financing of multifamily rental housing, as well as for refinancing existing mortgages. It operates through two segments: Single-Family and Multifamily. Its Single-Family and Multifamily segments engage in business activities that provide liquidity to the mortgage market and manage the availability and affordability of housing in the United States. The Single-Family segment operates in the secondary mortgage market relating to loans secured by properties containing four or fewer residential dwelling units. The Multifamily segment operates in the secondary mortgage market relating primarily to loans secured by properties containing five or more residential units. The Company funds its business primarily through the issuance of short-term and long-term debt securities in the domestic and international capital markets.

Closing Price
$2.00
Day's Change
0.03 (1.52%)
Bid
--
Ask
--
B/A Size
--
Day's High
2.00
Day's Low
1.90
Volume
(Average)
Volume:
1,933,433

10-day average volume:
1,952,235
1,933,433

Energy Recovery Investors Last Days to Seek Active Participation in Class action

8:00 am ET September 17, 2020 (Globe Newswire) Print

Investors with losses of $100,000 or more are encouraged to contact the Portnoy Law Firm; click here to join the case

The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Energy Recovery, Inc. ("Energy Recovery" or "the Company") (NASDAQ: ERII) investors that acquired securities between August 2, 2017 and June 29, 2020. Investors have until September 21, 2020 to seek appointment as a class representative.

Investors are encouraged to contact attorney Lesley F. Portnoy, to determine eligibility to participate in this action, by phone 310-692-8883 or email, or click here to join the case.

Energy Recovery develops and manufactures technologies for the oil & gas, chemical and water industries. The Company entered into a 15-year licensing agreement with Schlumberger Technology Corp. ("Schlumberger") for the exclusive use of Energy Recovery's VorTeq hydraulic pump system.

On June 29, 2020, the Company announced the termination of the licensing agreement with Schlumberger citing "different strategic perspectives as to the path to VorTeq commercialization." Analysts quickly criticized the Company, stating, "[Energy Recovery] should have been able to perceive in advance and then explicitly warn about the significant, and likely rising, odds of this outcome."

The lawsuit alleges that Energy Recovery made false and misleading statements to the public throughout the Class Period and failed to disclose 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.

Please visit our website to review more information and submit your transaction information.

The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm's founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.

Admitted CA and NY Bar

lesley@portnoylaw.com

310-692-8883

www.portnoylaw.com

Attorney Advertising

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