Member access

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 

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

10/16/2013 | 09:06am US/Eastern
Recommend:
0

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
Recommend :
0
React to this article
Latest news
Date Title
<1m ago FAMILY DOLLAR STORES : Serial Armed Robber Sentenced to 32 Years in Federal Prison
<1m ago RESEARCH AND MARKETS : China Printing and Dyeing Auxiliary Industry Report 2014-2017
1m ago APPLE : European Commission Believes Ireland Gave Illegal State Aid To Apple
1m ago CINR FINA : BOAT introduces MMT standard in trade reporting
1m ago SHIRE : Form 8.3 - Shire
1m ago SHIRE : Form 8.5 (EPT/RI) - Repalcement Abbvie Inc
2m ago INDEPENDENT LIVING SYSTEMS : Approved by ACAP as a Preferred Vendor
2m ago HURON CONSULTING : Adds Clinical Operations Expert as Managing Director for Huron Healthcare
3m ago ANDES ENERGIA : Narrows Loss On Rise In Revenue In Half-Year
3m ago HSBC September PMI shouldn't be leant upon - Colquhoun
Latest news
Advertisement
Hot News 
Bank derivatives boom ahead of ECB test results as investors play safe
CYAN : Executive Chairman role and grant of options
SIGMA CAPITAL : Loss Narrows On Lower Costs; Makes Liverpool Development Progress
AMBIT BIOSCIENCES : Law Firm Kirby McInerney LLP Investigating Potential Claims on Behalf of Ambit Biosciences Corporation Stockholders
EINSTEIN NOAH RESTAURANT : INVESTOR ALERT: Faruqi & Faruqi, LLP Announces the Investigation of Einstein Noah Restaurant Group (BAGL) Over the Proposed Sale of the Company to JAB Holding Company
Most Read News
6h ago QUINDELL : simply quizzical over its sliding shares
1d ago SOFTBANK : DreamWorks Animation talks cool - WSJ
1d ago LENOVO : edges close to IBM server deal
1d ago ALLERGAN : Valeant Pharmaceuticals' third-quarter sales to rise
1d ago BOEING : to shift most defense work out of Washington state
Most recommended articles
3m ago HSBC September PMI shouldn't be leant upon - Colquhoun
3m ago EBay to spin off PayPal
6m agoDJOTP BANK NYRT : Hungary's OTP Offers EUR300 Million for Slovenian Lender NKBM - Report
6m ago WALGREEN : Drugstore chain Walgreen's quarterly sales rise 6.2 percent
10m ago EBay jumps in premarket, to spin off PayPal
Dynamic quotes  
ON
| OFF