NEW YORK, Aug. 29, 2016 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of Energy Recovery, Inc. ("Energy Recovery" or the "Company") (NASDAQ: ERII), concerning whether the board has breached its fiduciary duties to shareholders.
In January 2016, the Company was sued by its former Chief Sales Officer who alleges that Company executives had compelled him to required false information to board members and the public. The Chief Sales Officer also alleges that a number of the Company's public statements regarding its business were false.
On August 16, 2016, the former Chief Sales Officer notified the court of a tentative settlement. A related securities class action pending in the U.S. District Court for the Northern District of California has been sustained on motion to dismiss. Case No. 3:15-cv-00265-EMC
Our investigation concerns whether the Company board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing.
If you own Energy Recovery shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Robert I. Harwood, Esq.
Benjamin I. Sachs-Michaels, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
Follow us on Twitter: @HarwoodFeffer
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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SOURCE Harwood Feffer LLP