Nuverra Environmental Solutions Inc (NYSE:NES) Investor Alert: Lawsuit Alleges False Statements

A lawsuit was filed on behalf of investors in Nuverra Environmental Solutions Inc (NYSE:NES) shares over alleged securities laws violations. Deadline: November 4, 2013. NYSE:NES investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com

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San Diego, CA -- (SBWire) -- 09/09/2013 --An investor, who purchased shares of Nuverra Environmental Solutions Inc (NYSE:NES), filed a lawsuit in the U.S. District Court for the Southern District of New York ,over alleged violations of Federal Securities Laws by Nuverra Environmental Solutions Inc in connection with certain allegedly false and misleading statements made between March 12, 2013 and August 23, 2013.

Investors who purchased a significant amount of shares of Nuverra Environmental Solutions Inc (NYSE:NES) between March 12, 2013 and August 23, 2013, and / or those who purchased NYSE:NES shares prior to March 2013 and currently hold any of those shares, have certain options and for certain investors are short and strict deadlines running. Deadline: November 4, 2013. NYSE:NES investors should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges on behalf of all persons or entities who purchased or otherwise acquired securities of Nuverra Environmental Solutions Inc (NYSE:NES) between between March 12, 2013 and August 23, 2013, that Nuverra Environmental Solutions Inc and certain of its officers and directors 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.

Nuverra Environmental Solutions Inc reported that its annual Total Revenue rose from $156.84 million in 2011 to $351.98 million in 2012 and that its Net Loss of $23.01 million in 2011 turned into a Net Income of $2.53 million in 2012.

On May 8, 2013, Nuverra Environmental Solutions Inc announced its first quarter 2013 financial results. For the first quarter in 2013 Nuverra Environmental Solutions Inc reported quarterly Revenue of $159.46 million with quarterly Net Loss of $12.63 million. Among other things, Nuverra Environmental Solutions Inc provided its 2013 outlook and financial guidance.

Then on July 30, 2013, Nuverra Environmental Solutions Inc reported its preliminary second quarter 2013 results. Nuverra Environmental Solutions Inc announced certain preliminary financial results for the second quarter endedJune 30, 2013.Nuverra expects to report revenues for the second quarter of approximately $165.5 million and adjusted EBITDA in the range of $32.8 million to $33.6 million.

On August 8, 2013, Nuverra Environmental Solutions Inc announced its actual second quarter 2013 earnings results, disclosing an adjusted earnings per share loss.

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 (NYSE:NES) closed on September 6, 2013 at $2.58 per share.

Those who purchased shares of Nuverra Environmental Solutions Inc (NYSE:NES), 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

Media Relations Contact

Trevor Allen
General Manager
Shareholders Foundation, Inc.
858-779-1554
http://www.ShareholdersFoundation.com

View this press release online at: http://rwire.com/325466