SOURCE: Dyer & Berens LLP

Dyer & Berens LLP

January 17, 2012 13:19 ET

Dyer & Berens LLP Files Class Action Lawsuit on Behalf of Investors Who Purchased Veolia Environnement S.A. American Depositary Shares Between 4/27/07 and 8/4/11; Announces Investor Deadline (VE)

DENVER, CO--(Marketwire - Jan 17, 2012) - Dyer & Berens LLP (www.DyerBerens.com) today announced that it has filed a class action lawsuit in the United States District Court for the Southern District of New York on behalf of all persons who purchased the American Depositary Shares of Veolia Environnement S.A. ("Veolia" or the "Company") (NYSE: VE) between April 27, 2007 and August 4, 2011, inclusive (the "Class Period").

What actions may I take at this time? If you purchased shares during the Class Period and wish to serve as a lead plaintiff, you must request an appointment by the court no later than February 27, 2012. If you would like to discuss this action, the lead plaintiff process, or have any questions concerning this notice, please contact plaintiff's counsel, Jeffrey A. Berens, Esq. at (888) 300-3362 x302 or via email at jeff@dyerberens.com. Any member of the putative class may request a lead plaintiff appointment through counsel of its choice or may choose to do nothing and remain an absent class member.

What are the allegations in the complaint? The complaint alleges that, during the Class Period, defendants issued materially false and misleading statements regarding the Company's business and prospects. Specifically, defendants misrepresented and/or failed to disclose the following adverse facts: (a) that Veolia was materially overstating its financial results by engaging in improper accounting practices; (b) that the Company lacked adequate internal controls and was therefore unable to ascertain its true financial condition; (c) that Veolia failed to timely record an impairment charge for its Transport business in Morocco, Environmental Services businesses in Egypt, Marine Services business in the United States, and for Southern Europe; (d) that the Company's revenues were being hampered by the renewal of some of its major concession contracts; and (e) that, as a result, defendants lacked a reasonable basis for their positive statements about the Company and its prospects. Based upon the foregoing, the complaint charges the Company and certain of its officers with violations of the Securities Exchange Act of 1934.

About Dyer & Berens LLP. The plaintiff is represented by Dyer & Berens LLP, which has expertise in prosecuting investor class actions involving financial fraud. The firm's extensive experience in securities litigation, particularly in cases brought under the Private Securities Litigation Reform Act, has contributed to the recovery of hundreds of millions of dollars for aggrieved investors.

Contact Information

  • Contact:

    Jeffrey A. Berens
    Dyer & Berens LLP
    303 East 17th Avenue, Suite 300
    Denver, CO 80203
    Tel: (888) 300-3362 x302
    Email: Email Contact
    Website: www.DyerBerens.com