CLASS ACTION UPDATE for NSP, USO and ERII: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders
August 03, 2020 at 13:35 PM EDT
NEW YORK, NY / ACCESSWIRE / August 3, 2020 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. Further details about the cases can be found at the links provided. There is no cost or obligation to you.
NSP Shareholders Click Here: https://www.zlk.com/pslra-1/insperity-inc-loss-form?prid=8329&wire=1
* ADDITIONAL INFORMATION BELOW *
Insperity, Inc. (NYSE:NSP)
NSP Lawsuit on behalf of: investors who purchased February 11, 2019 - February 11, 2020
According to the filed complaint, during the class period, Insperity, Inc. made materially false and/or misleading statements and/or failed to disclose that: (a) the Company had failed to negotiate appropriate rates with its customers for employee benefit plans and did not adequately disclose the risk of large medical claims from these plans; (b) Insperity was experiencing an adverse trend of large medical claims; (c) as a mitigating measure, the Company would be forced to increase the cost of its employee benefit plans, causing stunted customer growth and reduced customer retention; and (d) the foregoing issues were reasonably likely to, and would, materially impact Insperity's financial results.
United States Oil Fund, LP (NYSE:USO)
The Lawsuit is on behalf of shareholders of United States Oil Fund, LP who purchased shares between March 19, 2020 and April 28, 2020 and/or pursuant or otherwise traceable to the Fund's March 19, 2020 registration statement.
According to the filed complaint, (1) unbeknownst to investors, extraordinary market conditions in early 2020 made USO's purported investment objective and strategy unfeasible; (2) as excess oil supply increased and oil prices plummeted, the facilities available for storage in Cushing approached capacity, causing a "super contango" in which the futures prices for oil substantially exceeded the spot price; (3) instead of revealing the known impacts and risks to the Fund, USO held an offering of billions of dollars of USO shares in March 2020; and (4) as a result USO suffered billions of dollars in losses and was forced to abandon its investment strategy.
Energy Recovery, Inc. (NASDAQ:ERII)
ERII Lawsuit on behalf of: investors who purchased August 2, 2017 - June 29, 2020
According to the filed complaint, during the class period, Energy Recovery, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) the Company had different strategic perspectives regarding commercialization of the Company's VorTeq technology than Schlumberger Technology Corp., which had exclusive rights to the use of VorTeq (ii) these differences created substantial risk of early termination of the Company's exclusive licensing agreement with Schlumberger; (iii) accordingly, the revenue guidance and expectations of future license revenue was false and lacked reasonable basis; and (iv) as a result, Defendants' public statements were materially false and misleading at all relevant times or lacked a reasonable basis and omitted material facts.
You have until the lead plaintiff deadlines to request that the court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
SOURCE: Levi & Korsinsky, LLP
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