Brower Piven Encourages Investors Who Have Losses in Excess of $500,000 From Investment in Carbo Ceramics, Inc. to Inquire Ab...
February 14 2012 - 3:34PM
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 purchasers
of the common stock of Carbo Ceramics, Inc. ("Carbo Ceramics" or
the "Company") (NYSE: CRR) during the period between October 27,
2011 and January 26, 2012, inclusive (the "Class Period").
If you have suffered a net loss for all transactions in Carbo
Ceramics, Inc. common stock during the Class Period, 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 410/415-6616, or at Brower Piven, A Professional
Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153.
Attorneys at Brower Piven have combined experience litigating
securities and class action cases of over 60 years.
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 April 9, 2012 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 are not required to have sold your shares to seek
damages or to serve as a Lead Plaintiff.
The complaint accuses the defendants of violations of the
Securities Exchange Act of 1934 by virtue of the Company's failure
to disclose during the Class Period that the Company was
experiencing a dramatic decline in proppant sales in the
Haynesville region and was being negatively impacted by logistical
problems such that it was not able to shift resources to liquid
plays where drilling activity was increasing. According to the
complaint, after, on January 26, 2012, Carbo Ceramics revealed that
the Company 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, the value of
Carbo Ceramics shares declined significantly.
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 Stevenson, Maryland 410/415-6616 Email Contact
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