|[May 20, 2014]
SHAREHOLDER UPDATE: Glancy Binkow & Goldberg LLP Announces Update to the Shareholder Lawsuit against Advanced Emissions Solutions, Inc.
LOS ANGELES --(Business Wire)--
Binkow & Goldberg LLP has filed a class action lawsuit on behalf
of purchasers of the securities of Advanced
Emissions Solutions, Inc. ("Advanced Emissions Solutions" or the
"Company") (NYSE:ADES) between March 14, 2013 and April 23, 2014,
inclusive (the "Class Period"), and provides the following update in
connection with the shareholder lawsuit: On May 20, 2014, Advanced
Emissions announced it received a notice from the NASDAQ Capital Market
on May 14, 2014, indicating that the Company is not in compliance with
NASDAQ Listing Rules because the Company's Form 10-Q for the period
ended March 31, 2014, was not filed by May 12, 2014, and the Company
remains delinquent in filing its Form 10-K for the period ended December
31, 2013. The notice was issued pursuant to NASDAQ Marketplace Rule
5250(c)(1), which requires timely filing of periodic reports with the
Securities and Exchange Commssion.
According to the Company, the delay in filing these reports is related
to its "review of its historical revenue recognition policy for
equipment contracts in its Emission Control segment, its verification of
its accounting for interest expense accruals related to taxes on
deferred installment gain and certain other accounting transactions, the
process of assessing the effectiveness of its internal control over
financial reporting, the restatement of its previously issued financial
statements for the first three quarters of 2013, and the re-audit of its
financial statements for 2011 and 2012."
The Complaint filed in the United States District Court for the District
of Colorado alleges that defendants misrepresented and/or failed to
disclose that the Company had applied the wrong methodology to recognize
revenue on its Emissions Control business segment contracts and made
material errors in its accruals.
If you are a member of the Class described above, you may move the Court
no later than June 30, 2014, to serve as lead plaintiff; however, you
must meet certain legal requirements. To be a member of the Class, you
need not take any action at this time; you may retain counsel of your
choice or take no action and remain an absent member of the Class. If
you wish to learn more about this action or have any questions
concerning this announcement or your rights or interests with respect to
these matters, please contact Michael
Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century
Park East, Suite 2100, Los Angeles, California 90067, Toll-Free at (888)
773-9224, or contact Gregory
Linkh, Esquire, of Glancy Binkow & Goldberg LLP at 122 E. 42nd
Street, Suite 2920, New York, New York 10168, at (212) 682-5340, by
e-mail to firstname.lastname@example.org,
or visit our website at http://www.glancylaw.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
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