Brower Piven Encourages Investors Who Have Losses in Excess of $50,000 From Investment in Cano Petroleum, Inc. to Inquire About
October 15 2008 - 4:45PM
Marketwired
Brower Piven, A Professional Corporation announces that a class
action lawsuit has been commenced in the United States District
Court for the Southern District of New York on behalf of all
purchasers who purchased the common stock of Cano Petroleum, Inc.
("Cano" or the "Company") (AMEX: CFW) issued pursuant to a
registration statement and prospectus filed with the SEC in
connection with Cano's June 26, 2008 secondary public offering.
The complaint charges certain of the Company's directors and
underwriters with violations of the Securities Act of 1933
including that the registration statement and prospectus filed with
the SEC for the Cano shares issued in the Secondary Offering
contained statements concerning proved reserve amounts and
standards that were materially false and overstated Cano's proved
reserves.
No class has yet been certified in the above action. Members of
the Class will be represented by the lead plaintiff and counsel
chosen by the lead plaintiff. If you wish to choose counsel to
represent you and the Class, you must apply to be appointed lead
plaintiff no later than December 8, 2008 and be selected by the
Court. The lead plaintiff will direct the litigation and
participate in important decisions including whether to accept a
settlement and how much of a settlement to accept for the Class in
the action. The lead plaintiff will be selected from among
applicants claiming the largest loss from investment in the Company
during the Class Period. You may contact Brower Piven (through
hoffman@browerpiven.com or 410/332-0030) to answer any questions
you may have in that regard.
If you have suffered a net loss for all transactions in Cano
Petroleum, Inc. common stock pursuant to a registration statement
and prospectus filed with the SEC in connection with Cano's June
26, 2008 secondary public offering, you may obtain additional
information about this lawsuit and your ability to become a lead
plaintiff by contacting Brower Piven at www.browerpiven.com, by
email at hoffman@browerpiven.com, by calling 410-332-0030, or at
Brower Piven, A Professional Corporation, The World Trade
Center-Baltimore, 401 East Pratt Street, Suite 2525, Baltimore,
Maryland 21202. Attorneys at Brower Piven have combined experience
litigating securities and class action cases of over 40 years. If
you choose to retain counsel, you may retain Brower Piven without
financial obligation or cost to you, or you may retain other
counsel of your choice. You need take no action at this time to be
a member of the class.
CONTACT: Charles J. Piven Brower Piven, A Professional
Corporation Baltimore, Maryland 410/332-0030 Email Contact
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