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Veolia Environnement SA (ADS) (NYSE: VE) Investor Securities Class Action Lawsuit 12/27/2011

  • If you purchased American Depositary Shares of Veolia Environnement (NYSE: VE), you might have certain options and should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Case Dismissed
Company
Veolia Environnement (ADR)
Security
NYSE: VE

Case Name
Veolia Environnement Shareholder Class Action Lawsuit 12/27/2011
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Southern District of New York

Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

May 25, 2012 - The lead plaintiffs filed a notice of voluntary dismissal without prejudice.
March 7, 2012 - The lead plaintiffs and lead counsel were appointed and all cases were consolidated.

February 27, 2012 - Lead plaintiff motions were filed.

December 27, 2011 - An investor in shares of Veolia Environnement SA (ADS) (NYSE: VE) filed a lawsuit in the U.S. District Court for the Southern District of New York against Veolia Environnement SA over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between April 27, 2007 and August 4, 2011.

According to the complaint the plaintiff alleges on behalf of purchasers of Veolia Environnement SA American Depositary Shares (ADS) during the period between April 27, 2007 and August 4, 2011, that Veolia Environnement SA and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing allegedly materially false and misleading statements regarding the its business and prospects.

Veolia Environnement SA’s annual Revenue rose from $31.57 billion for 2007 to $34.78 billion in 2010, however its Net Income fell from $927.90 million in 07 to $581.10 million for 2010. Additionally, despite that Veolia Environnement SA’s 6 months Revenue rose from $14.10 billion ending for a 6 months period on June 30, 2010 to $16.28 billion ending for a 6 months period ending on June 30, 2011, its Net Income for the same time periods turned from a Net Income of $374.20 million into a Net Loss of $67.20 million.

On August 4, 2011, Veolia Environnement SA announced its half year results, for the period ended June 30, 2011.

Shares of Veolia Environnement SA (ADS) (NYSE: VE) fell from over $33 per share in April to recently slightly above $10 per share.