SAN DIEGO, Feb. 10, 2015 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed on behalf of certain purchasers of shares of Energy Recovery, Inc. (ERII) over alleged Federal Securities Laws Violations by Energy Recovery.
Investors who purchased a significant amount of shares of Energy Recovery, Inc. (Nasdaq:ERII) between March 14, 2012 and January 13, 2015, and / or if you purchased any NASDAQ:ERII shares in 2012 or earlier and continue to hold any of those shares have certain options and for certain investors are short and strict deadlines running.Deadline: March 23, 2015. NASDAQ:ERII investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that Energy Recovery, Inc. issued between March 14, 2012 and January 13, 2015 materially false and misleading statements to investors by failing to disclose significant internal control deficiencies that rendered the Company's periodic reports filed with the SEC false and misleading.
On September 10, 2014, Energy Recovery, Inc. announced that effective immediately, it has terminated the employment relationship with its Senior Vice President of Sales, Borja Sanchez-Blanco, for cause.
On January 13, 2015, Energy Recovery, Inc. announced that Mr. Thomas S. Rooney, Jr. will be resigning as Chief Executive Officer.
Shares of Energy Recovery, Inc. (Nasdaq:ERII) traded during 2013 as high as $7.67 per share and declined to as low as $3.22 per share February 2, 2015.
Those who purchased shares of Energy Recovery, Inc. (Nasdaq:ERII) have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.