NEW YORK, March 30, 2012 /PRNewswire/ -- Levi &
Korsinsky 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 investors
who purchased Carbo Ceramics, Inc. ("Carbo" or the "Company")
(NYSE: CRR) stock between October 27,
2011 and January 26, 2012 (the
"Class Period").
For more information, click here:
http://www.zlk.com/carbo-ceramics-crr.
Carbo Ceramics manufactures and supplies ceramic proppants
primarily used in the hydraulic fracturing of natural gas and oil
wells. The complaint alleges that, throughout the Class
Period, defendants issued materially false and misleading statement
regarding the following adverse facts: (a) that the Company was
experiencing a dramatic decline in proppant sales in the
Haynesville region; (b) 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 (c) that, based on the foregoing, defendants lacked a
reasonable basis for their positive statements about the Company,
its operations and earnings during the Class Period.
On January 26, 2012, Carbo
Ceramics announced its financial results for the fourth quarter and
fiscal year 2011 and revealed that the Company had seen a 70%
decline in proppant sales in the Haynesville region. In response,
the price of Carbo Ceramics common stock fell from $130.72 per share to $103.76.
If you suffered a loss in Carbo Ceramics you have until
April 9, 2012 to request that the
Court appoint you as lead plaintiff. Your ability to share in
any recovery doesn't require that you serve as a lead plaintiff. To
obtain additional information, contact Joseph E. Levi, Esq. either via email at
jlevi@zlk.com or by telephone at (877) 363-5972, or visit
http://www.zlk.com.
Levi & Korsinsky has expertise in prosecuting investor
securities litigation and extensive experience in actions involving
financial fraud and represents investors throughout the nation,
concentrating its practice in securities and shareholder
litigation. Attorney advertising. Prior results do not guarantee
similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 15th Floor
New York, NY
10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com
SOURCE Levi & Korsinsky, LLP