An investigation on behalf of current long term investors in Nuverra Environmental Solutions Inc (NYSE:NES) shares over possible breaches of fiduciary duty by certain officers and directors was announced and NYSE:NES stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com
San Diego, CA -- (SBWIRE) -- 10/30/2013 -- An investigation on behalf of current long-term investors in shares of Nuverra Environmental Solutions Inc (NYSE:NES) was announced concerning whether certain directors and officers of Nuverra Environmental Solutions Inc breached their fiduciary duties.
Investors who are current long term investors in Nuverra Environmental Solutions Inc (NYSE:NES) shares, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in Nuverra Environmental Solutions Inc (NYSE:NES) stocks follows a lawsuit filed recently against Nuverra Environmental Solutions over alleged securities laws violations. The investigation on behalf of current long term investors in Nuverra Environmental Solutions Inc (NYSE:NES) stocks concerns whether certain Nuverra Environmental Solutions officers and directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Southern District of New York the plaintiff alleges that Nuverra Environmental Solutions Inc violated the Securities Exchange Act of 1934.More specifically, the plaintiff alleges that between March 12, 2013 and August 23, 2013, defendants issued materially false and misleading statements regarding Nuverra Environmental Solutions’ financial performance and future prospects and as a result of defendants’ false statements, NYSE:NES a shares traded at artificially inflated prices between March 12, 2013 and August 23, 2013.
On August 23, 2013, after the close of trading, a report disclosed, among other things, specifics concerning the Power Fuels acquisition and discussed how that acquisition was weighing Nuverra Environmental Solutions’ financial performance down.
Shares of Nuverra Environmental Solutions Inc declined from $4.36 per share in late March 2013 to as low as $2.21 per share in late August 2013.
On October 29, 2013, NYSE:NES closed at $2.40 per share.
Those who purchased shares of Nuverra Environmental Solutions Inc have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com