PR Newswire | Dec 1, 2020 03:52PM EST

announces that a securities class action lawsuit has been filed in the United States District Court for the Northern District of Texas against Berry Corporation

12/01 14:52 CST

BERRY CORPORATION CLASS ACTION ALERT: Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the United States District Court for the Northern District of Texas against Berry CorporationLEAD PLAINTIFF DEADLINE IS JANUARY, 2021 NEW YORK, Dec. 1, 2020

NEW YORK, Dec. 1, 2020 /PRNewswire/ -- 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 Company's 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").

Allinvestors who purchased shares ofagainst of Berry Corporationand incurred losses are urgedto 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 case on our website, www.whafh.com.

If you have incurred losses in the shares of Berry Corporation, youmay,no later 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

On June 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 $14 per 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 operational improvements that caused temporary reductions in our production. Notably, we performed some plugging and abandonment activity that resulted in the temporary shut-in of nearby wells. Additionally, improved steam management reduced overall costs but temporarily increased water disposal and well maintenance needs, resulting in a slight decrease in production."

On this news, the Company's 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 Haldenstein has 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

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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SOURCE Wolf Haldenstein Adler Freeman & Herz LLP