Philadelphia, Pennsylvania--(Newsfile Corp. - April 13, 2023) - A securities fraud class action on behalf of Berry Corporation (NASDAQ: BRY) shareholders has survived a motion to dismiss and the court has ordered settlement mediation in the case.
That complaint alleges that in the run up to Berry's 2018 IPO, materially false and misleading statements were made about the potential risk of drilling permit delays and the inability to drill oil on identified sites. It is further alleged that Berry failed to disclose chronic internal deficiencies that prevented the Berry from obtaining certain permits.
Moreover, it is alleged that after the Company went public, between August 2018 and August 2020, Berry's CEO, CFO, and COO made materially false and misleading statements on nearly a dozen occasions, assuring shareholders that Berry's ability to secure permits was a non-issue.
Current Berry shareholders who have held Berry stock since at least early 2019 can seek corporate reforms, the return of funds spent defending litigation, and a court approved incentive award, at no cost to them what-so-ever.
If you would like to learn more, you are encouraged to visit https://grabarlaw.com/the-latest/berry-corp-shareholder-investigation/, contact us at jgrabar@grabarlaw.com, or call 267-507-6085.
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Contact:
Joshua H. Grabar, Esq.
Grabar Law Office
One Liberty Place
1650 Market Street, Suite 3600
Philadelphia, PA 19103
Tel: 267-507-6085
Email: jgrabar@grabarlaw.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/162271
Source: Grabar Law Office