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

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 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
Date Title
01:14a CHEESECAKE FACTORY : Mall of Qatar officially opens doors
01:13a QATAR FUEL : Prepaid microchip for refuelling
01:12a RUSSIA-FRIENDLY CEO MAY BECOME TRUMP’S SECY OF STATE : Report
01:09a HOTELS : Soaking it up by the sea
01:05a CAPITAL & REGIONAL : Update on BHS units
01:05a GREENCORE : FY16 Final Dividend Scrip Dividend Offer
01:05a CONSORT MEDICAL : Director/PDMR Shareholding
01:05a AVON RUBBER : Director/PDMR Shareholding
01:05a DRAX : Capacity Market Contracts
01:05a AVON RUBBER : Annual Report and Financial Statements 2015
Latest news
Advertisement
Hot News 
-18.13%RESTORATION HARDWARE : Hit by Business-Model Changes
1.99%BANK OF CHINA : Leads Bailout of Troubled Steel Trader
4.83%France's Elior eyes further profit, sales growth
-7.04%Macau eases gambling crackdown concerns after casino shares tumble
-14.17%SIBANYE GOLD : to Buy Stillwater Mining for $2.2 Billion--Update
Most Read News
06:00p LORENZO INTERNATIONAL : Approval In Principle In Relation To The Proposed Placement
06:20p NATURAL COOL : Disclosure Of Interest/ Changes In Interest Of Substantial Shareholder(s)/ Unitholder(s) - Change In Interest - Lim Teck Chuan
06:20p DIC ASSET : Purchases Office Real Estate in Hanover with Around 18,000 Square Metres
06:20p LION ENERGY : Additional Funds Raised
06:50p WAL MART STORES : Children 'Shop With a Cop' to pick perfect presents for loved ones
Most recommended articles
06:27p GENERAL MOTORS : Cadillac disavows casting call for 'neo-Nazi' character in brand ad
04:35pDJGLENCORE : Qatar Investment Authority to Invest $2.6 Billion in Rosneft Deal
03:09p Russia signs Rosneft deal with Qatar, Glencore
02:38p Murdoch's new Sky bid should be probed say opposition politicians
01:21p BANCA MONTE DEI PASCHI DI SIENA : ECB's Weidmann - can't exclude option of state joining Italy bank rescues