This class action lawsuit addresses whether senior executives at Nuverra Environmental Solutions, Inc. (ticker symbol: NES) misrepresented and overstated the company’s financial performance to artificially inflate the price of the company’s common stock.
Specifically, the lawsuit alleges that Nuverra’s senior management failed to timely disclose to investors that the company was facing a severe liquidity crisis caused in part by a significant decline in Nuverra’s operational results in the Eagle Ford shale region.