UPLCQ ALERT: The Klein Law Firm Announces a Lead Plaintiff Deadline of November 2, 2020 in the Class Action Filed on Behalf of Ultra Petroleum Corp. Limited Shareholders
New York, New York--(Newsfile Corp. - September 17, 2020) - The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Ultra Petroleum Corp. (OTC PINK: UPLCQ) alleging that the Company violated federal securities laws.
Learn more about your recoverable losses in UPLCQ:
The filed complaint alleges that Ultra Petroleum Corp. made materially false and/or misleading statements and/or failed to disclose that: (a) Ultra's proved reserves were materially overstated and, therefore, worth hundreds of millions of dollars less than represented; (b) Ultra's proved undeveloped reserves were of de minimis value because they contained low quality deposits that lacked a commercially viable path to development; (c) Ultra was unable to meet the production and development estimates provided to investors and such estimates lacked a reasonable basis; (d) Ultra was unable to withstand even a modest downturn in the price of natural gas because, inter alia, Ultra's business had less financial and production flexibility than claimed; and (e) Ultra did not have the technical or financial capabilities or available asset base to sustainably grow its oil and natural gas production by any meaningful amount.
Shareholders have until November 2, 2020 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
For additional information about the UPLCQ lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click the link above.
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/64024
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