LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation on behalf of Energy Recovery, Inc. ("Energy Recovery or the "Company") (NASDAQ: ERII) investors concerning the Company and its officers’ possible violations of federal securities laws.
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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. Follow us for updates on Twitter: twitter.com/FRC_LAW.
If you purchased Energy Recovery securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to firstname.lastname@example.org, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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