Nuverra Environmental Solutions Inc (NYSE:NES) Investor Investigation Over Potential Securities Laws Violations

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Company Name(s): 
Nuverra Environmental Solutions
Affected Securities: 
NYSE: NES

August 30, 2013 (Shareholders Foundation) - An investigation on behalf of investors of Nuverra Environmental Solutions Inc (NYSE:NES) shares over potential securities laws violations by Nuverra Environmental Solutions and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Nuverra Environmental Solutions Inc (NYSE:NES) concerning whether a series of statements by Nuverra Environmental Solutions Inc . regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Nuverra Environmental Solutions Inc reported that its annual Total Revenue rose from $156.84 million in 2011 to $351.98 million in 2012 and that its Net Loss of $23.01 million in 2011 turned into a Net Income of $2.53 million in 2012.

On May 8, 2013, Nuverra Environmental Solutions Inc announced its first quarter 2013 financial results. For the first quarter in 2013 Nuverra Environmental Solutions Inc reported quarterly Revenue of $159.46 million with quarterly Net Loss of $12.63 million. Among other things, Nuverra Environmental Solutions Inc provided its 2013 outlook and financial guidance.

The on July 30, 2013, Nuverra Environmental Solutions Inc reported its preliminary second quarter 2013 results. Nuverra Environmental Solutions Inc announced certain preliminary financial results for the second quarter endedJune 30, 2013.Nuverra expects to report revenues for the second quarter of approximately $165.5 million and adjusted EBITDA in the range of $32.8 million to $33.6 million.

Shares of Nuverra Environmental Solutions Inc (NYSE:NES) closed on August 29, 2013 at $2.32 per share.