LOS ANGELES, Jan. 21, 2021 /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Berry Corporation ("Berry" or "the Company") (NASDAQ: BRY) violations of the federal securities laws.
Investors who purchased the Company's shares pursuant and/or traceable to the Company's July 26, 2018 initial public offering (the "IPO"), or between July 26, 2018 and November 3, 2020 both dates inclusive (the "Class Period"), are encouraged to contact the firm before January 21, 2021.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Berry overstated both its operational efficiency and stability. The Company's poor efficiency and instability would eventually require significant operational improvements that would raise costs and disrupt operations. These required improvements would negatively impact the Company's revenues. Based on these facts, the Company's public statements and Offering Documents were false and materially misleading throughout the class period. When the market learned the truth about Berry, investors suffered damages.