BOULDER, Colo., Oct. 30, 2009 (GLOBE NEWSWIRE) -- Advertising Material -- The Shuman Law Firm today announced that a securities class action lawsuit has been filed on behalf of purchasers of the common stock of EnergySolutions, Inc. ("EnergySolutions" or the "Company") (NYSE:ES) pursuant or traceable to the Company's initial public offering on or about November 14, 2007 (the "IPO") and the Company's offering of securities on or about July 24, 2008 (the "July 2008 Offering"), as well as purchasers of the Company's common stock between November 14, 2007 and October 14, 2008, inclusive (the "Class Period").
The class action lawsuit was filed in the United States District Court for the Southern District of New York. If you wish to discuss this action or have any questions concerning this notice or your rights and interests with respect to this matter, please contact Kip B. Shuman or Rusty E. Glenn toll free at (866) 974-8626 or email Mr. Shuman at kip@shumanlawfirm.com or Mr. Glenn at rusty@shumanlawfirm.com.
The complaint charges that EnergySolutions, certain directors and officers of EnergySolutions, ENV Holdings, LLC and the main underwriters for the Offerings violated federal securities laws. The complaint alleges that, throughout the Class Period, and in the offering documents for the Offerings, defendants made numerous positive statements regarding the Company's financial condition, business and opportunities in the nuclear industry.
On October 14, 2008, EnergySolutions issued a press release that revealed, among other things, that the Company was reducing its estimates for net income and that the financial crisis would delay EnergySolutions' ability to accelerate the decommissioning of nuclear power plant assets. On this news, the price of EnergySolutions' common stock fell from $10.14 per share on October 13, 2008 to $5.64 on October 14, 2008.
If you purchased EnergySolutions common stock pursuant and/or traceable to the Company's November 14, 2007, IPO, and/or the Company's July 2008 Offering of securities, or if you purchased the Company's common stock between November 14, 2007 and October 14, 2008, you may request that the Court appoint you as lead plaintiff of the Class no later than December 8, 2009. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.
The Shuman Law Firm represents investors throughout the nation, concentrating its practice in securities class actions and shareholder derivative actions.
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