May 25, 2016, 10:35 ET from Bronstein, Gewirtz & Grossman, LLC

NEW YORK, May 25, 2016 /PRNewswire/ — Attorney Advertising — Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of Energy Recovery, Inc. (“Energy Recovery” or “the Company”) (NasdaqGS: ERII). Such investors are advised to contact Peretz Bronstein or his Investor Relations Coordinator, Eitan Kimelman at [email protected] or 212-697-6484.

This investigation concerns whether Energy Recovery and certain of its officers and/or directors have violated the Federal Securities Laws under the Securities Exchange Act of 1934 (the “Exchange Act”). 

On May 24, 2016, pre-market, Cannell Capital LLC published a report (the “Cannell Capital Report”) characterizing Energy Recovery’s valuation as “excessive” and stating that “the Company has a rich history of over-promising and under-delivering.”  The Cannell Capital Report also described the details of a January 2016 lawsuit filed by the Company’s former Chief Sales Officer alleging that certain Energy Recovery executives had compelled him to provide “false information to Board members and the public” and that Energy Recovery had made a number of misrepresentations with respect to the sales pipeline for its products, the commercial viability of its Vorteq product, and companies for which it was a qualified vendor. 

On this news, Energy Recovery stock fell $1.48, or 13.29%, to close at $9.66 on May 24, 2016.

If you are aware of any facts relating to this investigation, or purchased shares of Energy Recovery, you can assist this investigation by contacting Peretz Bronstein or his Investor Relations Coordinator, Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email [email protected].  Those who inquire by e-mail are encouraged to include their mailing address, email and telephone number.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique.  Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients.  In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration.   Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman
212-697-6484 | [email protected]

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