SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Shareholders of Ultra Petroleum Corp. of a Class Action Lawsuit and a Lead Plaintiff Deadline of November 2, 2020 - UPLCQ

Newsfile Corp.
·2 min read

New York, New York--(Newsfile Corp. - October 29, 2020) - The following statement is being issued by Levi & Korsinsky, LLP:

To: All persons or entities who purchased or otherwise acquired securities of Ultra Petroleum Corp. ("Ultra") (OTC PINK: UPLCQ) between April 3, 2017 and August 8, 2019. You are hereby notified that a securities class action lawsuit has been commenced in the the United States District Court for the District of Colorado. To get more information go to:

https://www.zlk.com/pslra-1/ultra-petroleum-corp-information-request-form?prid=10574&wire=5

or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500. There is no cost or obligation to you.

The complaint alleges that throughout the class period Defendants issued 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.

If you suffered a loss in Ultra you have until November 2, 2020 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/67145