GlobeNewswire Inc | Nov 24, 2020 04:00PM EST

November 24, 2020

NEW YORK, Nov. 24, 2020 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed in the United States District Court for the Northern District of Texas on behalf of investors that purchased:

-- Berry Corporation (Nasdaq: BRY) (Berry or the Company) common stock pursuant and/or traceable to the Companys initial public offering conducted on or about July 26, 2018 (the IPO or Offering); or -- Berry securities between July 26, 2018 and November 3, 2020 (the Class Period).

All investors whopurchasedshares ofagainst ofBerry Corporationand incurred losses areurgedto contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the caseon our website, www.whafh.com.

If you have incurred losses in the shares of Berry Corporation, youmay,nolater than January 21, 2021, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in the shares of Berry Corporation.

CLICK HERE TO JOIN CASE

OnJune 29, 2018, the Company filed its Registration Statement on Form S-l for the IPO On July 26, 2018, Berry conducted the IPO, upon which the Company began trading on the NASDAQ Global Select market (NASDAQ), issuing 13 million shares of Berry common stock at$14per share.

On November 3, 2020, Berry reported its financial and operating results for the third quarter of 2020. Among other results, Berry reported non-GAAP EPS and revenue that both fell short of estimates. In addition, Berry reported that during the quarter, the Company undertook certain operationalimprovements that caused temporary reductions in our production. Notably, weperformed some plugging and abandonment activity that resulted in thetemporary shut-in of nearby wells. Additionally, improved steam managementreduced overall costs but temporarily increased water disposal and wellmaintenance needs, resulting in a slight decrease in production.

On this news, the Companys stock price fell $0.15 per share, or 5.28%, to close at $2.69 per share on November 4, 2020, representing an 80.78% decline from the IPO price.

Wolf Haldensteinhas extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.

Contact:

Wolf Haldenstein Adler Freeman & Herz LLP Kevin Cooper, Esq.Gregory Stone, Director of Case and Financial AnalysisEmail: gstone@whafh.com,kcooper@whafh.com or classmember@whafh.comTel: (800) 575-0735 or (212) 545-4774

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