EnergySolutions, Inc. Long Term Shareholder Investigation

Investigation on behalf of EngerySolutions Investors concerning potential breaches of fiduciary duty by the board of directors of ES - Contact the Shareholders Foundation, Inc at mail@shareholdersfoundation.com
By: Shareholders Foundation, Inc.
 
 
mail@shareholdersfoundation.com
mail@shareholdersfoundation.com
 
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Tags:
* es
* Energysolutions
* Energy Solutions
* Nyse Es
* Finance
* Business

Industrys:
* Banking
* Business
* Legal

Location:
* San Diego - California - US

May 21, 2009 - PRLog -- SAN DIEGO, CA (Shareholders Foundation) -- An investigation on behalf of current investors in EnergySolutions, Inc  over possible breaches of fiduciary duty by the board of directors announced.

If you a long term investor in EnergySolutions, Inc (NYSE ES) shares you have certain options and you should contact the Shareholders Foundation, Inc. immediately!

Email: mail@shareholdersfoundation.com

Or call us at: +1 (858) 779 - 1554

One of the major services that EnergySolutions provides through its Commercial Services segment is its “license stewardship program,” through which the Company provides nuclear decommissioning services.  Under this program, EnergySolutions acquires title to substantially all of a customer’s buildings, facilities and equipment from the customer’s non-operating nuclear power plant.  As the owner of the plant and associated permits, licenses and other assets, the Company is eligible to acquire a license from the Nuclear Regulatory Commission (“NRC”) to decommission the plant, and most importantly, to gain access to the client’s decommissioning trust funds associated with the plant, which are overseen by the NRC. In December 2007, the Company finalized a contract with Exelon Corporation to decommission two nuclear reactors in Zion, Illinois. April 24, 2008, Exelon issued a press release and disclosed that its decommissioning trust fund accounts had significantly declined in value. On May 12, 2008, after the close of the market, the Company issued a press release and affirmed its full year guidance of revenues.
Then on October 14, 2008, so the investigation, shares of EnergySolutions, Inc (NYSE ES) lost nearly half their value after the company lowered its 2008 guidance below Wall Street’s outlook, citing the state of the national and global economy. EnergySolutions, Inc. announced that is now expected to earn 50 cents to 60 cents per share for the year, down from previous estimates of 69 cents to 74 cents per share that were provided to investors at the time insiders, including certain of the officers and directors of EnergySolutions, Inc., sold millions of shares of EnergySolutions, Inc (NYSE ES), so the investigation. Shares of EnergySolutions, Inc.  declined from $27.56 per share in December 2007 to $4.63 per share in October 2008. EnergySolutions, Inc. is a provider of specialized, technology-based nuclear services to government and commercial customers. The Company’s range of nuclear services includes engineering, in-plant support services, spent nuclear fuel management, decontamination and decommissioning, operation of nuclear reactors, logistics, transportation, processing and disposal. Energy Solutions is located in Salt Lake City, UT and had $1.09261billion in total revenue in 2007 and $1.79163billion in total revenue in 2008. Shares of EnergySolutions, Inc.  traded recently at $8.10 per share, down from a 52weekHigh at $27.42 per share.

If you a long term investor in EnergySolutions, Inc (NYSE ES) shares you have certain options and you should contact the Shareholders Foundation, Inc. immediately!

Email: mail@shareholdersfoundation.com

Or call us at: +1 (858) 779 - 1554

Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423 -
92108 San Diego
Tel:+1-(858)-779-1554
Fax:+1-(858)-605-5739
mail@shareholdersfoundation.com
www.ShareholdersFoundation.com
_____________________________________________________________________________________

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Advertising. The Shareholders Foundation, Inc. is an investor advocacy group. We do research related to shareholder issues and inform investors of securities class actions, settlements, judgments, and other legal related news to the stock market. At Shareholders Foundation, Inc. we are in contact with a large number of shareholders. We believe that together we can combine the interests of many investors, and use the size of our interest as leverage against the giant corporations. We offer help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Any statements made in press releases, emails or over the phone by any member or personnel employed by Shareholders Foundation, Inc. or by third parties related to the Shareholders Foundation, Inc. is provided for research and guidance purposes only and are not legal advices. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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Tags:es, Energysolutions, Energy Solutions, Nyse Es, Finance, Business
Industry:Banking, Business, Legal
Location:San Diego - California - United States
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