SOURCE: Izard Nobel LLP

October 16, 2009 17:00 ET

Izard Nobel LLP Announces Class Action Lawsuit Against EnergySolutions, Inc.

WEST HARTFORD, CT--(Marketwire - October 16, 2009) - The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Southern District of New York on behalf of those who purchased the common stock of EnergySolutions, Inc. ("EnergySolutions, Inc." or the "Company") (NYSE: ES) in or traceable to the Company's initial public offering on or about November 14, 2007 (the "IPO") and the offering on or about July 24, 2008 (the "July 2008 Offering") (collectively, the "Offerings"), as well as purchasers of the Company's common stock between November 14, 2007 and October 14, 2008, inclusive (the "Class Period").

The complaint charges that EnergySolutions, certain directors and officers of EnergySolutions, ENV Holdings, LLC and the main underwriters for the Offerings violated federal securities laws. The complaint alleges that, throughout the Class Period, and in the offering documents for the Offerings, defendants made numerous positive statements regarding the Company's financial condition, business and opportunities in the nuclear industry.

On October 14, 2008, EnergySolutions issued a press release that revealed, among other things, that the Company was reducing its estimates for net income and that the financial crisis would delay EnergySolutions' ability to accelerate the decommissioning of nuclear power plant assets. On this news, the price of EnergySolutions' fell from $10.14 per share on October 13, 2008 to $5.64 on October 14, 2008.

If you are a member of the class, you may, no later than December 8, 2009, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.

While Izard Nobel LLP has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, and your rights, visit: www.izardnobel.com/energysolutions, or contact Izard Nobel LLP toll-free: (800) 797-5499, or by e-mail: firm@izardnobel.com. For more information about class action cases in general, please visit our website: www.izardnobel.com.

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