OKLAHOMA CITY, Nov. 16, 2007 (PRIME NEWSWIRE) -- Federman & Sherwood announces that it has commenced an investigation of Basin Water, Inc. to determine whether it has violated federal securities laws in connection with its recent announcement.
On November 14, 2007, Basin Water, Inc. made an announcement, reporting huge quarterly losses, which triggered an 18 percent fall in its shares. The company stated in its announcement that this was primarily due to poorly priced contracts, rising waste disposal and sale purchase costs, and the inability to pass increased costs on to its clients. Basin Water reported a third quarter loss of $9.9 million, or 50 cents a share.
If you are a Basin Water shareholder and have information that would assist our firm in its ongoing investigation, or if you have other questions relating to a loss you may have suffered in your investment, please contact William B. Federman at WFederman@aol.com.