The Shareholders Foundation announces that a deadline is coming up on June 30, 2014 in the lawsuit filed for investors of Advanced Emissions Solutions, Inc. (NASDAQ:ADES) over alleged securities laws violations by Advanced Emissions Solutions.
Investors who purchased shares of Advanced Emissions Solutions, Inc. (NASDAQ:ADES) have certain options and and for certain investors are short and strict deadlines running. Deadline: June 30, 2014. NASDAQ:ADES investors should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
According to the complaint filed in the District Court for the District of Colorado the plaintiff alleges on behalf of purchasers of Advanced Emissions Solutions, Inc. (NASDAQ:ADES) between March 14, 2013 and March 12, 2014, that the defendants violated Federal Securities Laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
More specifically, the plaintiff claims that between March 14, 2013 and March 12, 2014, the defendants made allegedly false and/or misleading statements and/or failed to disclose that Advanced Emissions Solutions, Inc. was employing improper accounting practices, particularly with respect to its method for recognizing revenue for its Emission Control business segment contracts, that Advanced Emissions Solutions, Inc. was experiencing increased operating losses, primarily driven by a reduction of revenues and margins for its Emission Control segment with a corresponding increase in backlog, that the improper accounting practices would require Advanced Emissions Solutions, Inc. to restate its reported financial statements, and that as a result of the above, Advanced Emissions Solutions, Inc.’s financial statements were materially false and misleading at all relevant times.
On March 13, 2014, Advanced Emissions Solutions, Inc. announced that it will reschedule its 2013 fourth quarter and year end news release and conference call. Advanced Emissions Solutions, Inc. said that it is currently reviewing its accounting practices, particularly its methods of recognizing revenue for its Emission Control business segment contracts and that it expects the result of this review will likely result in increased operating losses, primarily driven by a reduction of revenues and margins for its emission control segment with a corresponding increase in backlog for the same period.
Shares of Advanced Emissions Solutions, Inc. fell from $54.23 to $50.90 on March 13, 2014. On March 17, 2014, Advanced Emissions Solutions, Inc shares split 2:1.
On June 23, 2014, NASDAQ:ADES shares closed at $23.04 per share.
Those who purchased shares of Advanced Emissions Solutions, Inc. have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com