(Source: MARKETWIRE)
Shalov Stone Bonner & Rocco LLP announces that a class action
lawsuit has been filed on behalf of all persons or entities who
acquired the common stock of EnergySolutions, Inc. ("EnergySolutions"
or the "Company") (NYSE: ES) in 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
Offering") (collectively, the "Offerings"), as well as purchasers of
EnergySolutions' common stock between November 14, 2007 and October
14, 2008, inclusive (the "Class Period"). The lawsuit is pending in
the United States District Court for the Southern District of New
York against EnergySolutions, certain of its officers and directors,
ENV Holdings, LLC, and the main underwriters of the Offerings.
According to the complaint, during the Class Period, as well as in
the offering documents for the Offerings, defendants made false and
misleading statements concerning EnergySolutions' financial condition,
business and prospects. The complaint alleges that these statements
were false and misleading because the defendants failed to disclose
material adverse facts. The complaint further alleges that on
October 14, 2008, the Company issued a press release revealing that
the financial crisis would delay its ability to accelerate the
decommissioning of nuclear power plant assets, that it was reducing
its estimates for net income, and that its petition for a rulemaking
change was denied by the Nuclear Regulatory Commission. On this news,
the price of the Company's stock plummeted from $10.14 per share on
October 13, 2008 to a closing price of $5.64 on October 14, 2008, a
drop of 44% on extremely heavy volume.
Shalov Stone Bonner & Rocco LLP has extensive experience in the
prosecution of lawsuits on behalf of investors. For more information
about the firm, please visit its website at: www.lawssb.com
If you purchased EnergySolutions common stock and would like
additional information about your rights, please contact investor
rights attorney Amanda C. Scuder, at Shalov Stone Bonner & Rocco LLP,
485 Seventh Avenue, Suite 1000, New York, New York 10018 (telephone:
(212) 239-4340; email: ascuder@lawssb.com).
Attorney advertising. Prior results do not guarantee a similar
outcome.
CONTACT:
Amanda C. Scuder - Attorney
SHALOV STONE BONNER & ROCCO LLP
Telephone: (212) 239-4340
Facsimile: (212) 239-4310
Email: Email Contact
http://www.lawssb.com
SOURCE: Shalov Stone Bonner & Rocco LLP
A service of YellowBrix, Inc.
