SAN FRANCISCO (Legal Newsline) – A class action lawsuit filed against Energy Recovery, Inc. and its leadership team on Tuesday alleged the company breached its fiduciary duties causing its stock price to significantly fall.
In the suit, Joseph Sabatino alleged Energy Recovery, CEO and President Thomas Rooney, former Chief Financial Officer (CFO) Alexander Buehler and current CFO Joel Gay didn’t disclose that Senior Vice President Borja Sanchez-Blanco had a conflict of interest with the company. Energy Recovery manufactures reusable energy products.
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