Ryan & Maniskas, LLP Announces Class Action Lawsuit Against Carbo Ceramics, Inc.
February 13 2012 - 7:15PM
Business Wire
Ryan & Maniskas, LLP (www.rmclasslaw.com/cases/crr)
announces that a class action lawsuit has been filed in United
States District Court for the Southern District of New York on
behalf of purchasers of the common stock of Carbo Ceramics, Inc.
("Carbo" or the "Company") (NYSE: CRR) between October 27, 2011 and
January 26, 2012, inclusive (the "Class Period").
For more information regarding this class action suit, please
contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire)
toll-free at (877) 316-3218 or by email at rmaniskas@rmclasslaw.com
or visit: www.rmclasslaw.com/cases/crr.
The Complaint alleges Carbo and certain of its officers and
directors violated the federal securities laws. Specifically,
defendants failed to disclose the following adverse facts: (i) that
Carbo was experiencing a dramatic decline in proppant sales in the
Haynesville region; (ii) that the Company was being negatively
impacted by logistical problems such that it was not able to shift
resources to liquid plays where drilling activity was increasing;
and (iii) that, based on the foregoing, defendants lacked a
reasonable basis for their positive statements about Carbo, its
operations and earnings during the Class Period.
On January 26, 2012, Carbo issued a press release announcing its
financial results for the fourth quarter and fiscal year 2011. That
same day, the Company held a conference call wherein it was
revealed that Carbo had seen a 70% decline in proppant sales in the
Haynesville region and that it had been unable to shift resources
to various liquid plays due to logistical issues. On this news,
Carbo common stock fell from $130.72 to $103.76.
If you are a member of the class, you may, no later than April
9, 2012, request that the Court appoint you as lead plaintiff of
the class. A lead plaintiff is a representative party that acts on
behalf of other class members in directing the litigation. In order
to be appointed lead plaintiff, the Court must determine that the
class member's claim is typical of the claims of other class
members, and that the class member will adequately represent the
class. Under certain circumstances, one or more class members may
together serve as "lead plaintiff." Your ability to share in any
recovery is not, however, affected by the decision whether or not
to serve as a lead plaintiff. You may retain Ryan & Maniskas,
LLP or other counsel of your choice, to serve as your counsel in
this action.
For more information about the case or to participate online,
please visit: www.rmclasslaw.com/cases/crr or contact Richard A.
Maniskas, Esquire toll-free at (877) 316-3218, or by e-mail at
rmaniskas@rmclasslaw.com. For more information about class action
cases in general or to learn more about Ryan & Maniskas, LLP,
please visit our website: www.rmclasslaw.com.
Ryan & Maniskas, LLP is a national shareholder litigation
firm. Ryan & Maniskas, LLP is devoted to protecting the
interests of individual and institutional investors in shareholder
actions in state and federal courts nationwide.
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