Log in
Login
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesHot NewsMost Read NewsRecomm.Business LeadersCalendar 

Lieff Cabraser Reminds Nuverra Environmental Solutions, Inc. Investors of Upcoming Deadline in Class Action Lawsuit - NES

share with twitter share with LinkedIn share with facebook
share via e-mail
0
10/16/2013 | 03:06pm CEST

Lieff, Cabraser, Heimann & Bernstein, LLP reminds investors of the November 4, 2013 deadline to move for appointment as lead plaintiff in the securities class litigation brought on behalf of those who purchased or otherwise acquired the common stock of Nuverra Environmental Solutions, Inc. ("Nuverra" or the "Company") (NYSE: NES) between November 11, 2011 and August 23, 2013, inclusive (the "Class Period").

If you purchased or otherwise acquired the common stock of Nuverra during the Class Period, you may move the Court for appointment as lead plaintiff by no later than November 4, 2013. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in the action will not be affected by your decision of whether to seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other attorneys, as your counsel in the action.

Nuverra investors who wish to learn more about the action and how to seek appointment as lead plaintiff should click here.

The actions charge Nuverra and certain of its officers and directors with violations of the Securities Exchange Act of 1934.

The actions allege that throughout the Class Period, defendants misrepresented and/or failed to disclose: (a) that Nuverra was suffering from a severe liquidity crisis; (b) that the Company was undergoing a significant decline in its operational results, especially in the Eagle Ford Shale area; (c) that as a result of the Company's poor financial performance, Nuverra's default risk materially increased and the Company faced potential defaults on its covenants; and (d) based upon the above, defendants lacked a reasonable basis for their positive statements about the Company during the Class Period.

On July 30, 2013, the Company issued a press release announcing its preliminary financial results for the quarter ended June 30, 2013. Nuverra stated that its earnings before interest taxes depreciation and amortization ("EBITDA") would be significantly lower than previously projected. On this news, the price of Nuverra common stock dropped more than 30% to close at $3.04 per share on July 30, 2013.

On August 23, 2013, after markets closed, Seeking Alpha.com published a report that disclosed, among other things, information concerning the Company's acquisition of Badlands Power Fuels, LLC, and discussed how that acquisition was hampering the Company's financial performance. On this news, the price of Nuverra common stock declined an additional 11.76%, to close at $2.40 per share on August 26, 2013.

About Lieff Cabraser

Lieff Cabraser is a nationally recognized law firm committed to advancing the rights of investors and promoting corporate responsibility.

Since 2003, the National Law Journal has selected Lieff Cabraser as one of the top plaintiffs' law firms in the nation.

For more information about Lieff Cabraser and the firm's representation of investors, please visit http://www.lieffcabraser.com.

Lieff Cabraser Heimann & Bernstein, LLP
Sharon M. Lee, 415-956-1000


© Business Wire 2013
share with twitter share with LinkedIn share with facebook
share via e-mail
0
React to this article
Latest news
Date Title
12:44p PILBARA MINERALS : Cleansing Statement
12:44p ALLGEIER SE : Supervisory Board approves the 2015 financial statements and proposes dividend; Q1 2016 revenue and earnings growth
12:44p MINISTRY OF PLANNING AND DEVELOPMENT OF ISLAMI : Ahsan Iqbal calls upon WTO to support Pakistan in SME development & trade facilitation for CPEC
12:44p INDIA CAN PROVIDE HIGH QUALITY SERVICES AT AN AFFORDABLE COST : Nirmala Sitharaman
12:44p JORDAN : Arab Bank nets $217 m in first quarter
12:42p BOMBARDIER : WAVE High-speed Ka-band Wi-Fi Service for Global 5000 and Global 6000 Aircraft Receives Transport Canada Certification
12:42p BANK OF AMERICA : Evalon Costco Compares Merchant Account of Square Reader for Credit Card Processing Point of Sale
12:42p INFOBLOX : Permit the Application, but Manage the Behavior—Netskope Selects Infoblox to Protect Data and Ensure Compliance
12:42p INTERTEK : to Exhibit at Beauty World Middle East
12:41p DGAP-ADHOC : Allgeier SE: Supervisory Board approves the 2015 financial statements and proposes dividend; Q1 2016 revenue and earnings growth
Latest news
Advertisement
Hot News 
PETRO MATAD : Partner Exit from Blocks IV and V in Mongolia
COIL : Strong growth in earnings 2015
B&G FOODS : Reports Financial Results for First Quarter 2016; Delivers Strong Growth in Sales and Earnings
GOLAR LNG USA : Limited - Announcement of filing of Form 20-F Annual Report
HALYARD HEALTH : Response to Allegations in Lawsuit Referenced in 60 Minutes Program
Most Read News
05/01 GOVERNMENT OF BARBADOS OFFICE OF PRIME MINIS : New Petroleum Prices From Midnight May 1
05/01 TM ROBOTICS : Partners with M.A.P Services to Sell Toshiba Machine Industrial Robots in Australia for the First Time
12:27a Japan Manufacturing PMI Lowest Since Jan 2013
05/01 People line up for chance to work at Margaritaville
05/01 Despite Falling 142 Dogs Short of the GUINNESS WORLD RECORDS™ Title for Most Dogs Attending a Sporting Event, PetSmart® Says World-Record Run at Chase Field Was a Doggone Success
Most recommended articles
06:41aDJRubber Futures End Lower on Decline in Japan Shares
06:39a WARREN BUFFETT SAYS DOESN'T TRY TO PROFIT FROM CENTRAL BANK MOVES : Cnbc
06:35aDJAustralian Craig Wright Claims He Is Bitcoin Inventor
06:35aDJTAKATA : to Book Additional Loss Over Air-Bag Recalls
06:30a Reckitt Benckiser executive slapped in South Korea while apologizing for deadly sterilizers