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NEW YORK, Nov. 22, 2020 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Berry Corporation (“Berry or the “Company”) (NASDAQ: BRY). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 7980.
The investigation concerns whether Berry and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On or around July 30, 2018, Berry completed its initial public offering (“IPO”), selling approximately 12.2 million shares priced at $14.00 per share.
On November 3, 2020, post-market, 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 activities 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, Berry’s stock price fell $0.15 per share, or 5.28%, to close at $2.69 per share on November 4, 2020.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980