NEW YORK--(BUSINESS WIRE)--The Rosen Law Firm announces that it is investigating potential securities claims on behalf of shareholders of Energy Recovery, Inc. (NASDAQ: ERII) resulting from allegations Energy Recovery may have issued materially misleading business information to the investing public.
On September 10, 2014, Energy Recovery announced that it was terminating its Senior Vice President of Sales, Borja Sanchez-Blanco (its third highest paid officer) for cause, citing his breach of his fiduciary duties and conflict of interest over a span of several years. Energy Recovery added that Mr. Sanchez-Blanco’s conduct amounted to a violation of its standards for ethics and integrity.
On January 13, 2015, after close of trading, Energy Recovery announced that its CEO would resign, and that it did not have a replacement. On January 14, 2015, Energy Recovery’s stock price fell from a previous close of $4.44 to close at $3.90, a decline of 12.2%, damaging investors.
The Rosen Law Firm is evaluating a class action to recover losses suffered by Energy Recovery investors. If you purchased Energy Recovery stock on or before January 13, 2015, you can join the class action at http://rosenlegal.com/cases-476.html. You may also contact Phillip Kim, Esq. or Jonathan Horne, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via email at email@example.com or firstname.lastname@example.org.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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