GlobeNewswire Inc | Sep 15, 2020 10:23AM EDT

September 15, 2020

NEW YORK, Sept. 15, 2020 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP reminds investors that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of those who acquired Energy Recovery, Inc. (Energy Recovery or the Company) (NASDAQGS: ERII) securities during the period from August 2, 2017 through June 29, 2020 (the Class Period). Investors have until September 21, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the Company had a different strategic perspective regarding commercialization of the Companys VorTeq technology than Schlumberger Technology Corp., which had exclusive rights to the use of VorTeq; (2) which created substantial risk of early termination of the Companys exclusive licensing agreement with Schlumberger; (3) accordingly, the guidance and expectations of future license revenue was false and lacked reasonable basis; and (4) as a result, defendants public statements were materially false and misleading at all relevant times or lacked a reasonable basis and omitted material facts.

If you acquired Energy Recovery securities during the Class Period, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney at 212-371-6600, by email at investigations@kmllp.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.

Kirby McInerney is a New York-based plaintiffs law firm concentrating in securities, antitrust, and whistleblower litigation. The firms efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerneys website: www.kmllp.com.

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

ContactsKirby McInerney LLPThomas W. Elrod, Esq., (212) 371-6600investigations@kmllp.comwww.kmllp.com