By GlobeNewswire, September 16, 2013, 05:00:00 PM EDT
NEW YORK, Sept. 16, 2013 (GLOBE NEWSWIRE) -- Morgan & Morgan announces that class actions have been filed in the United States District Court for the District of Arizona and the United States District Court for the Southern District of New York against Nuverra Environmental Solutions, Inc. ("Nuverra" or the "Company") (NYSE:NES) on behalf of investors who purchased or otherwise acquired the common stock of the Company during the period from August 6, 2012 through August 23, 2013 (the "Class Period").
If you purchased Nuverra between August 6, 2012 and August 23, 2013, you may, no later than November 4, 2013, request that the Court appoint you lead plaintiff of the proposed class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
If you purchased Nuverra and want more information about the Nuverra Securities Class Action, please contact George Pressly, Esq. at 1 (800) 631-6234 or email George at AskGeorge@morgansecuritieslaw.com.
The complaints allege that defendants made false and misleading statements and/or failed to disclose: (a) that the Company was suffering from a severe liquidity crisis; (b) that the Company was experiencing a significant decline in its operational results, particularly 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 faces 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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Source: Morgan Securities Law