The law firm of Lieff Cabraser Heimann & Bernstein, LLP announces that class action litigation has been brought on behalf of investors who purchased or otherwise acquired the common stock of Nuverra Environmental Solutions, Inc. (“Nuverra” or the “Company”) (NYSE:NES) between August 6, 2012 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 or contact Sharon M. Lee of Lieff Cabraser toll-free at 1-800-541-7358.
Background on the Nuverra Securities Class LitigationThe actions charge Nuverra and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Nuverra purports to be an environmental solutions company that provides services to customers in energy and industrial end-markets. The actions allege that throughout the Class Period, defendants made materially false and misleading statements regarding Nuverra’s financial performance and business prospects. Specifically the actions allege that 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.
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