Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  News  >  Companies  >  All News

News : Companies

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors

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 CET

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
Latest news "Companies"
09:53a TOYOTA MOTOR : to invest 40 bil. yen in Yaris-producing plant in France
09:53a KAWASAKI HEAVY INDUSTRIES : to receive 1,600 car orders for N.Y. subway
09:53a +15% CAGR TO BE ACHIEVED BY IOT CHIP MARKET ACCORDING MARKET ANALYST DURING THE FORECAST PERIOD : New Report on Global IoT Chip Market by Recipients, Competition by Top Manufacturers/Players, Forecast and Growth Study Report 2023 focusing key players: Intel, Qualcomm, NXP Semiconductors, Nvidia, Advanced Micro Devices, Samsung Electronics
09:51a L-CARNITINE MARKET SET FOR RAPID GROWTH AND TREND, BY 2025 : L-Carnitine Market detail analysis by research experts profiling top key players like Lonza Ltd., Alfa Aeser, Spectrum Chemical, Corporation, Biosynth AG, AIDP Inc., Ajinomoto Co., Inc., Alfa Sigma, Kaiyuan Hengtai Chemical Co., Ltd.
09:46a MANCHESTER UNITED : After Anfield blow, City look to restore smooth progress
09:39a ACCOR : Homes that make a good first impression have 5 things in common By Sophie Miura
09:37a Ever Yves
09:37a Armani Beauty opens new Tmall store in e-commerce push
09:37a EMAAR DEVELOPMENT : unveils Miami beach-style residences in Dubai
09:37a AL BABTAIN POWER & TELECOMMUNICATION : to set up wind power plant in KAEC
Latest news "Companies"
Advertisement