January 16, 2015 (Shareholders Foundation) - An investigation on behalf of investors of Energy Recovery, Inc. (NASDAQ:ERII) shares over potential securities laws violations by Energy Recovery and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Energy Recovery, Inc. (NASDAQ:ERII) concerning whether a series of statements by Energy Recovery regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Energy Recovery, Inc. reported that its annual Total Revenue rose from $28.05 million in 2011 to $43.05 million in 2013 and that its respective Net Loss declined from $26.44 million to $3.11 million.

On September 10, 2014, Energy Recovery, Inc. (NASDAQ:ERII) announced that effective immediately, it has terminated the employment relationship with its Senior Vice President of Sales, Borja Sanchez-Blanco, for cause. Energy Recovery, Inc said that it recently became aware that Mr. Blanco had breached a duty of trust and engaged in conduct which created a conflict of interest with the Company over the course of several years, not in keeping with the Company's standards for ethics and integrity. Shares of Energy Recovery, Inc. (NASDAQ:ERII) declined to as low as $3.56 per share on October 10, 2014.

On January 13, 2015, Energy Recovery, Inc. announced that Mr. Thomas S. Rooney, Jr. will be resigning as Chief Executive Officer to facilitate a transition during which the Company will identify and appoint a successor to further lead the Companys efforts in the oil and gas industry while continuing to strengthen its market leading position in desalination. Shares of Energy Recovery, Inc. (NASDAQ:ERII) declined to as low as $3.64 per share on January 15, 2015.