(GlobeNewswire Via Acquire Media NewsEdge) NEW YORK, May 8, 2014 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the District of Colorado on behalf of investors who purchased Advanced Emissions Solutions, Inc. ("Advanced Emissions" or the "Company") (Nasdaq:ADES) securities between March 14, 2013 and March 12, 2014.
The complaint alleges that Advanced Emissions made materially false and/or misleading statements and/or failed to disclose material adverse facts about the Company's business, operations, prospects and performance. In particular, the complaint alleges that the Company employed improper accounting practices, particularly with respect to the recognition of revenue from its Emission Control business segment contracts.
On March 13, 2014, the Company announced that it was reviewing its accounting practices and expected that the review would result in increased operating losses. Then on April 24, 2014, the Company announced it was unable to file its Annual Report on Form 10-K for the fiscal year ended December 31, 2013, and acknowledged that it had found a "material weakness related to its internal controls for recognizing revenue for its systems and equipment contracts in the Emissions Control business segment."
If you suffered a loss in Advanced Emissions you have until June 30, 2014 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/advanced-emissions-solutions-ades.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's 26 attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
Source: Levi & Korsinsky, LLP
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