The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Berry Corporation (NASDAQ: BRY) who purchased : (a) common stock pursuant and/or traceable to the Company’s initial public offering conducted on or about July 26, 2018; or (b) Berry securities between July 26, 2018 and November 3, 2020, both dates inclusive. The action, which was filed in the United States District Court for the Northern District of Texas, alleges that the Company violated federal securities laws.
In particular, the Berry Corporation lawsuit alleges that (i) Berry had materially overstated its operational efficiency and stability; (ii) Berry’s operational inefficiency and instability would foreseeably necessitate operational improvements that would disrupt the Company’s productivity and increase costs; (iii) the foregoing would foreseeably negatively impact the Company’s revenues; and (iv) as a result, the Offering Documents and the Company’s public statements were materially false and/or misleading and failed to state information required to be stated therein.
Shareholders have until January 21, 2021 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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