NEW YORK, Sep 7, 2020 (GLOBE NEWSWIRE) – Pomerantz LLP is investigating claims on behalf of investors in Ultra Petroleum ("Ultra" or the "Company") (OTCMKTS: UPLCQ). These investors are encouraged to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 1. 7980.
The investigation concerns whether Ultra Petroleum and any of its officers and / or directors have committed securities fraud or other illegal business practices.
(Click here for information on how to participate in the class action.)
On August 9, 2019, Ultra released a press release announcing its financial and operating results for the second quarter of 2019. The company announced that total revenue for the quarter was down 18% to $ 155.4 million, compared to $ 190.1 million in the second quarter of 2018. Ultra's press release told investors that the once-touted The Company's Horizontal Well Program had effectively stopped and also decreased.The Company's 2019 capital investments are projected to be between $ 260 million to $ 290 million and annual production of 3,239 to 244 billion cubic feet.
In the news, Ultra's share price fell 31%, closing at $ 0.09 per share on an unusually high volume of nearly 14 million shares traded. On August 22, 2019, NASDAQ officially delisted Ultra shares.
The Pomerantz firm, with offices in New York, Chicago, Los Angeles and Paris, is recognized as one of the leading law firms in corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, the dean of class action lawsuit, Pomerantz pioneered class action lawsuits. Today, more than 80 years later, Pomerantz continues its tradition of fighting for the rights of victims of securities fraud, fiduciary violations and corporate misconduct. The company has received numerous millions of dollars in damages on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980