EnergySolutions, Inc. Investor Investigation

If you currently own EnergySolutions, Inc (NYSE ES) shares you should contact the Shareholders Foundation, Inc. immediately!

To have your information reviewed for options and to recieve notifications about this investigation, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
EnergySolutions
Affected Securities: 
NYSE: ES

An investigation on behalf of current investors in EnergySolutions, Inc (NYSE: ES) over possible breaches of fiduciary duty by the board of directors announced.

One of the major services that EnergySolutions provides through its Commercial Services segment is its “license stewardship program,” through which the Company provides nuclear decommissioning services. Under this program, EnergySolutions acquires title to substantially all of a customer’s buildings, facilities and equipment from the customer’s non-operating nuclear power plant. As the owner of the plant and associated permits, licenses and other assets, the Company is eligible to acquire a license from the Nuclear Regulatory Commission (“NRC”) to decommission the plant, and most importantly, to gain access to the client’s decommissioning trust funds associated with the plant, which are overseen by the NRC. In December 2007, the Company finalized a contract with Exelon Corporation to decommission two nuclear reactors in Zion, Illinois. April 24, 2008, Exelon issued a press release and disclosed that its decommissioning trust fund accounts had significantly declined in value. On May 12, 2008, after the close of the market, the Company issued a press release and affirmed its full year guidance of revenues.

Then on October 14, 2008, so the investigation, shares of EnergySolutions, Inc (NYSE ES) lost nearly half their value after the company lowered its 2008 guidance below Wall Street’s outlook, citing the state of the national and global economy. EnergySolutions, Inc. announced that is now expected to earn 50 cents to 60 cents per share for the year, down from previous estimates of 69 cents to 74 cents per share that were provided to investors at the time insiders, including certain of the officers and directors of EnergySolutions, Inc., sold millions of shares of EnergySolutions, Inc (NYSE ES), so the investigation.