Altura Energy Corp. press release

SHAREHOLDER ALERT: Grabar Law Office Investigates Berry Corporation (BRY) On Behalf of Long-Term Shareholders

2022-12-29

TSXV - TSX Venture Exchange · Canada · Legal Matters

Philadelphia, Pennsylvania--(Newsfile Corp. - December 29, 2022) - A Federal Judge has ruled that a securities fraud complaint brought by Berry shareholders has survived a motion to dismiss and has ordered mediation.

That underlying complaint alleges that Berry's IPO Registration Statement was materially false and misleading in two important respects: (1) it contained misleading statements about the potential risk of permitting delays and the inability to drill oil in identified sites, and (2) it failed to disclose chronic internal deficiencies that prevented the Company from obtaining certain permits. Further, after the Company went public, between August 2018 and August 2020, Berry executives made materially false and misleading statements on nearly a dozen occasions, assuring investors that the ability to secure permits was a non-issue at the Company.

Current long-term holders of Berry Corporation can seek corporate reforms, the return of company funds spent defending litigation, and a court approved incentive award if appropriate.

If you would like to learn more about this matter at no cost to you, 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/149792