Public Service Enterprise Group Inc
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Utilities : Multi-Utilities | Large Cap Value
Company profile

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company's segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other. PSEG is engaged in the transmission of electricity and distribution of electricity and natural gas in certain areas of New Jersey. PSE&G is also the provider of last resort for gas and electric commodity service for end users in its service territory. Power is a multi-regional energy supply company that integrates the operations of its merchant nuclear and fossil generating assets with its power marketing businesses through energy sales in energy markets and fuel supply functions primarily in the Northeast and Mid-Atlantic United States through its principal subsidiaries. In addition, Power owns and operates solar generation in various states.

Closing Price
$58.15
Day's Change
-1.57 (-2.63%)
Bid
--
Ask
--
B/A Size
--
Day's High
59.72
Day's Low
57.43
Volume
(Heavy Day)
Volume:
3,240,554

10-day average volume:
2,148,714
3,240,554

Glancy Prongay & Murray Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Energy Recovery, Inc. (ERII)

1:20 pm ET September 17, 2020 (Globe Newswire) Print

Glancy Prongay & Murray LLP ("GPM") reminds investors of the upcoming September 21, 2020 deadline to file a lead plaintiff motion in the class action filed on behalf of Energy Recovery, Inc. ("Energy Recovery or the "Company") (NASDAQ: ERII) securities between August 2, 2017 and June 29, 2020, inclusive (the "Class Period").

If you suffered a loss on your Energy Recovery investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https://www.glancylaw.com/cases/energy-recovery-inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.

On June 29, 2020, Energy Recovery announced the termination of its 15-year contract with Schlumberger Technology Corp. ("Schlumberger") for the exclusive use of Energy Recovery's VorTeq hydraulic pumping system, citing "different strategic perspectives as to the path to VorTeq commercialization." Without the agreement in place, the Company will be wholly responsible for the commercialization of the VorTeq technology.

On this news, the Company's share price fell $1.31 or over 14%, to close at $7.60 per share on June 30, 2020, thereby injuring investors.

The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose: (1) that the Company and Schlumberger had different strategic perspectives regarding commercialization of VorTeq; (2) that these differences created substantial risk of early termination of the Company's exclusive licensing agreement with Schlumberger; (3) accordingly, the revenue guidance and expectations of future license revenue was false and lacked reasonable basis; and (4) as a result, Defendants' public statements were materially false and misleading at all relevant times or lacked a reasonable basis and omitted material facts.

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If you purchased or otherwise acquired Energy Recovery securities during the Class Period, you may move the Court no later than September 21, 2020 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts

Glancy Prongay & Murray LLP, Los Angeles

Charles Linehan, 310-201-9150 or 888-773-9224

shareholders@glancylaw.com

www.glancylaw.com

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