NEW YORK, Sept. 6, 2013 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Nuverra Environmental Solutions, Inc. ("Nuverra" or the "Company") (NYSE: NES).
The investigation focuses on whether the Company and its executives violated federal securities laws with respect to its disclosures concerning business, operational, and compliance policies. Specifically, the investigation focuses on whether Nuverra issued false and/or misleading statements concerning the following issues: (i) the Company's lack of organic growth in certain of its business segments; (ii) increased competition having a negative effect on Nuverra's business; (iii) that rental rates for tanks and other rental products were dramatically decreasing from oversupply; (iv) that the completion of certain fracking projects were delayed due to bad weather and other factors; (v) that assets acquired in one of the Company's acquisitions were not producing very well; and (vi) that Nuverra was experiencing operational problems.
On July 30, 2013, the Company announced that its second quarter 2013 EBITDA would be significantly lower than Nuverra had previously indicated. Then on August 23, 2013, Seeking Alpha published a report that one of the Company's acquisitions was hurting its financial performance, among other problems.
Following this news, the Company's stock declined by over 11%.
Request more information now by clicking here: www.faruqilaw.com/NES. There is no cost or obligation to you.
If you invested in Nuverra stock, bonds or options between March 12, 2012 and August 23, 2013 and would like to discuss your legal rights, visit www.faruqilaw.com/NES. You can also contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org or email@example.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Nuverra's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
Francis McConville, Esq.
Telephone: (877) 247-4292 or (212) 983-9330
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