An investigation on behalf of current long term investors in Energy Recovery, Inc. (NASDAQ:ERII) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 10/28/2020 -- Certain directors of Energy Recovery, Inc. are under investigation concerning potential breaches of fiduciary duties.
Investors who are current long term investors in Energy Recovery, Inc. (NASDAQ: ERII) shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm for investors in NASDAQ: ERII stocks follows a lawsuit filed against Energy Recovery, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: ERII stocks, concerns whether certain Energy Recovery directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that the defendants made false and/or misleading statements and/or failed to disclose that the Company and Schlumberger Technology Corp. ("Schlumberger") had different strategic perspectives regarding commercialization of VorTeq, that which created substantial risk of early termination of the Company's exclusive licensing agreement with Schlumberger, that accordingly, the guidance and expectations of future license revenue was false and lacked reasonable basis, and that as a result, defendants' public statements were materially false and misleading at all relevant times or lacked a reasonable basis and omitted material facts. When the true details entered the market, the lawsuit claims that investors suffered damages.
Those who purchased shares of Energy Recovery, Inc. (NASDAQ: ERII) have certain options and should contact the Shareholders Foundation.
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