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EnergySolutions facing $26M lawsuit

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Posted at 4:10 PM, Nov 21, 2012
and last updated 2012-11-21 18:10:40-05

SALT LAKE CITY – EnergySolutions and its partners may have to pay $26 million to settle a lawsuit that accuses the company of lying in order to pump up its stock price before the company went public in 2007.

Last year, a New York federal judge refused EnergySolutions’ move to dismiss the suit, upholding most of the pension funds’ claims that the nuclear waste company had made false and misleading statements to its investors when the stock went public.

A spokesperson for EnergySolutions declined to comment.