SOURCE: Shalov Stone Bonner & Rocco LLP

Shalov Stone Bonner & Rocco LLP

October 09, 2009 19:35 ET

Shalov Stone Bonner & Rocco LLP Announces Class Action Against EnergySolutions, Inc.

NEW YORK, NY--(Marketwire - October 9, 2009) - Shalov Stone Bonner & Rocco LLP announces that a class action lawsuit has been filed on behalf of all persons or entities who acquired the common stock of EnergySolutions, Inc. ("EnergySolutions" 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 Company's offering of securities on or about July 24, 2008 (the "July Offering") (collectively, the "Offerings"), as well as purchasers of EnergySolutions' common stock between November 14, 2007 and October 14, 2008, inclusive (the "Class Period"). The lawsuit is pending in the United States District Court for the Southern District of New York against EnergySolutions, certain of its officers and directors, ENV Holdings, LLC, and the main underwriters of the Offerings.

According to the complaint, during the Class Period, as well as in the offering documents for the Offerings, defendants made false and misleading statements concerning EnergySolutions' financial condition, business and prospects. The complaint alleges that these statements were false and misleading because the defendants failed to disclose material adverse facts. The complaint further alleges that on October 14, 2008, the Company issued a press release revealing that the financial crisis would delay its ability to accelerate the decommissioning of nuclear power plant assets, that it was reducing its estimates for net income, and that its petition for a rulemaking change was denied by the Nuclear Regulatory Commission. On this news, the price of the Company's stock plummeted from $10.14 per share on October 13, 2008 to a closing price of $5.64 on October 14, 2008, a drop of 44% on extremely heavy volume.

Shalov Stone Bonner & Rocco LLP has extensive experience in the prosecution of lawsuits on behalf of investors. For more information about the firm, please visit its website at: www.lawssb.com

If you purchased EnergySolutions common stock and would like additional information about your rights, please contact investor rights attorney Amanda C. Scuder, at Shalov Stone Bonner & Rocco LLP, 485 Seventh Avenue, Suite 1000, New York, New York 10018 (telephone: (212) 239-4340; email: ascuder@lawssb.com).

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