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

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
React to this article
Latest news
Date Title
11:22p UNILEVER : BRIEF: Yes, Ben & Jerry's is introducing an ice cream burrito on 4/20
11:22pDJCalifornia Gas-Line Explosion Injures at Least 11, Closes Highway
11:08p HERON RESOURCES : Management's Discussion and Analysis March 2015 Quarter
11:06p SANBIO : Presents at Annual European Stroke Organisation Conference
11:05p FORECAST : Will Dollar and Equity Declines Evolve into Reversals?
11:03p TEVA PHARMACEUTICAL : BRIEF: Mylan says it is not interested in merger with Israeli drug maker
11:03p FIRSTENERGY : DEP issues violation to FirstEnergy coal plant
11:00p Dollar Stumbles but Will it Fall as Markets Debate Fed Hikes?
10:59p PHILLIPS 66 : estimates 25,000 gallons of diesel leaked near Wood River Refinery
10:59p AT&T : BRIEF: Cards fans score on selfies
Latest news
Advertisement
Hot News 
OPPORTUNITY INVEST MGMT : 16 April 2015 - Update didivend payment
BEOWULF MINING : TR-1: Notification of Major Interest in Shares
GAMEACCOUNT NETWORK : DIRECTOR DEALINGS: GameAccount Non-Executive Buys 100,000 Shares
TROVAGENE : Nasdaq stocks posting largest percentage increases
MIDATECH PHARMA : Loss Widens On Listing Costs, Pipeline Investment
Most Read News
06:27p WAL MART STORES : -Mart shuffles U.S. store management to improve sales
09:10p ELECTROLUX : Union aims to organize Memphis workers at Electrolux
06:29p Ford to spend $2.5 billion on plants in Mexico, angering UAW
06:10p Justice Dept. staff may oppose Comcast-Time Warner Cable deal - Bloomberg
07:53p NXP SEMICONDUCTORS NV : "It’s personal: deeper brand relationships with NFC and cloud – Part 2"
Most recommended articles
11:22pDJCalifornia Gas-Line Explosion Injures at Least 11, Closes Highway
11:05p FORECAST : Will Dollar and Equity Declines Evolve into Reversals?
11:00p Dollar Stumbles but Will it Fall as Markets Debate Fed Hikes?
10:52pDJPHILLIPS 66 : Diesel Fuel Spills Into Mississippi River After Pipeline Leak -- Update
10:11pDJChina Home Prices Fall at Slower Pace in March
Dynamic quotes  
ON
| OFF