Shareholder Rights Law Firm Johnson & Weaver, LLP Investigates Carbo Ceramics Inc. for Securities Fraud
February 14 2012 - 6:04PM
Business Wire
Shareholder Rights Law Firm Johnson & Weaver, LLP announces
that it is investigating whether certain officers and directors of
Carbo Ceramics, Inc. (NYSE: CRR) breached their fiduciary duties
and committed violations of United States securities laws.
Carbo Ceramics manufactures and supplies ceramic proppants
primarily used in the hydraulic fracturing of natural gas and oil
wells in the United States and internationally.
Johnson & Weaver, LLP’s investigation focuses on whether
certain officers and directors of Carbo Ceramics issued improper
financial statements that failed to disclose the company was
experiencing a dramatic decline in proppant sales in the
Haynesville region and was experiencing significant logistical
problems. Carbo Ceramic’s stock price dropped from $130.72 per
share to $103.76 per share when, on January 26, 2012, the company
revealed it had experienced a 70% decline in proppant sales in the
Haynesville region and that it had been unable to shift its
resources to other areas because of logistical problems.
Johnson & Weaver, LLP invites Carbo Ceramics shareholders
who are concerned about their legal rights and remedies to contact
attorney Brett Weaver at (619) 230-0063 or
brettw@johnsonandweaver.com.
Johnson & Weaver, LLP is a nationally recognized shareholder
rights law firm. The firm represents individual and institutional
investors in shareholder derivative and securities class action
lawsuits. For more information about the firm and its attorneys,
please visit http://www.johnsonandweaver.com.
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