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Case Status:    SETTLED
On or around 02/10/2017 (Date of order of final judgment)

Filing Date: May 01, 2014

According to the law firm press release, Advanced Emissions Solutions, Inc., together with its subsidiaries, provides environmental technologies and specialty chemicals to the coal-burning electric power generation industry, primarily in the United States. It operates through three segments: Refined Coal, Emission Control, and CO2 Capture.

The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, and failed to disclose material adverse facts about the Company's business, operations, prospects and performance. Specifically, during the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company was employing improper accounting practices, particularly with respect to its method for recognizing revenue for its Emission Control business segment contracts; (ii) the Company 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; (iii) the improper accounting practices would require the Company to restate its reported financial statements, and (iv) as a result of the above, the Company's financial statements were materially false and misleading at all relevant times.

On March 13, 2014, the Company announced in a Securities and Exchange Commission ("SEC") Form 8-K filing that, "the Company is currently reviewing its accounting practices, particularly its methods of recognizing revenue for its Emission Control business segment contracts. The Company 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."

On this news, shares of Advanced Emissions fell from $54.23 to $50.90, on March 13, 2014, on unusually heavy trading volume.

On February 19, 2015, the court issued an Order appointing lead plaintiff and approving lead counsel. Lead plaintiff filed a consolidated complaint on April 20.

On July 29, 2016, the parties filed a Stipulation of Settlement. This Settlement was preliminarily approved by the Court on October 13. Final approval was granted on February 10, 2017.

COMPANY INFORMATION:

Sector: Services
Industry: Waste Management Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: ADES
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: D. Colorado
DOCKET #: 14-CV-01243
JUDGE: Hon. Kathleen M. Tafoya
DATE FILED: 05/01/2014
CLASS PERIOD START: 03/14/2013
CLASS PERIOD END: 03/12/2014
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Dyer & Berens LLP
    303 East 17th Avenue, Suite 300, Dyer & Berens LLP, CO 80203
    303.861.1764 303.861.1764 ·
  2. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
No Document Title Filing Date
COURT: D. Colorado
DOCKET #: 14-CV-01243
JUDGE: Hon. Kathleen M. Tafoya
DATE FILED: 05/16/2016
CLASS PERIOD START: 05/12/2011
CLASS PERIOD END: 01/23/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Edgar Law Firm, LLC
    1580 Lincoln Street, Ste. 1100, Edgar Law Firm, LLC, CO 80203
    (720) 529-0505 (303) 486-0001 ·
  2. Shepherd, Finkelman, Miller & Shah, LLC (Connecticut)
    65 Main Street , Shepherd, Finkelman, Miller & Shah, LLC (Connecticut), CT 06412
    860.526.1100 860.526.1100 ·
No Document Title Filing Date