San Diego, CA -- (SBWIRE) -- 03/13/2012 -- A deadline is coming up on April 9, 2012 in the lawsuit filed for investors of CARBO Ceramics Inc. (NYSE:CRR) over alleged Securities Laws Violations in connection with certain allegedly false and misleading Statements made by CARBO Ceramics Inc.
Investors with a substantial investment in CARBO Ceramics Inc. (NYSE:CRR)shares between October 27, 2011 and January 26, 2012, should get active before the Deadline that is coming up on April 9, 2012 and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
According to the complaint filed in the U.S. Court for the Southern District of New York the plaintiff alleges on behalf of purchasers of CARBO Ceramics Inc. (NYSE:CRR) common stock during the period between October 27, 2011 and January 26, 2012, that Carbo Ceramics, Inc and certain of its officers and directors violated the under the Securities Exchange Act of 1934. Specifically, the plaintiff alleges that between October 27, 2011 and January 26, 2012, defendants issued materially false and misleading statement regarding Carbo Ceramics’ business and prospects.
On January 26, 2012, CARBO Ceramics Inc. announced its Fourth Quarter and Fiscal Year 2011 Earnings. Among other things, CARBO Ceramics Inc said that: ”The severe decline in natural gas prices during the quarter led E&Ps to reduce capital spending in natural gas basins and increase capital spending in liquids-rich basins. The largest impact associated with this shift in capital spending was a reduction of approximately 70 percent in [its] Haynesville proppant sales volumes from the third quarter of 2011, which was partially offset by growth in the liquids-rich plays and international markets.”
NYSE:CRR shares fell from over $133 per share on January 25th to slightly above $103 on January 26th and declined to February 8, 2012 to as low as $90.46 per share.
Those who purchased shares of CARBO Ceramics Inc. (NYSE:CRR) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego