A class action lawsuit has been filed against Veolia Environnement S.A. claiming that Veolia Environnement S.A. and certain of its officers and directors violated the federal securities laws. The lawsuit is in the jurisdiction of the United States District Court for the Southern District of New York and includes anyone who bought American Depositary Shares of Veolia Environnement S.A. between the dates of April 27, 2007 and August 4, 2011. The lawsuit was filed by the law firm of Izard Nobel LLP which has handled many past security fraud claims.
The lawsuit claims that Veolia failed to disclose the following adverse facts: (i) that Veolia was materially overstating its financial results by engaging in improper accounting practices; (ii) Veolia lacked adequate internal controls; and (iii) Veolia failed to timely record an impairment charge for its Transport business in Morocco, Environmental Services businesses in Egypt, Marine Services business in the U.S., and for Southern Europe.
This action ultimately resulted in a loss of money for shareholders. More information about the case can be found at www.izardnobel.com or contact Izard Nobel LLP toll-free: (800)797-5499, or by e-mail: firm@izardnobel.com.
Veolia Environnement S.A. can be found on the New York Stock Exchange under ticker symbol VE.
Veolia Environnement
36-38, avenue Kléber
75116 Paris
Tél : +33 (0)1 71 75 00 00
Fax : +33 (0)1 71 75 10 45
