NEW YORK, April 10, 2012 /PRNewswire/ -- Notice is
hereby given that Faruqi & Faruqi, LLP has filed a class action
lawsuit in the United States District Court for the Southern
District of New York, case no. 12
CV 2807, on behalf of all persons who purchased or sold CARBO
Ceramics Inc. ("CARBO Ceramics" or the "Company") (NYSE: CRR)
options contracts between October 27,
2011 and January 26, 2012
inclusive (the "Class Period") and suffered damages as a
result.
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If you wish to obtain information concerning this action or view
a copy of the complaint, you can do so by clicking here:
http://www.faruqilaw.com/CRR
CARBO Ceramics, CARBO Ceramics' Chief Executive Officer
Gary Kolstad and CARBO Ceramics'
Chief Financial Officer Ernesto
Bautista are charged with violations of Section 10(b) and/or
20(a) of the Securities Exchange Act of 1934 and Rule 10b-5
promulgated thereunder. Specifically, the complaint alleges
that defendants knew or recklessly failed to inform investors that
(1) the Company was being negatively impacted by logistical issues
such that it was unable to shift resources to liquid plays; (2) the
Company was experiencing significant declines in proppant sales in
the Haynesville region; and (3) as a result of the foregoing,
Defendants' statements regarding the Company's operations and
earnings were false and misleading and lacked a reasonable basis
when made.
On January 26, 2012, CARBO
Ceramics shocked the market by announcing lower than expected
earnings caused by logistical issues and declining proppant
sales. This news caused CARBO Ceramics stock to drop
approximately 35% by the close of the business day, with the price
of CARBO Ceramics options correspondingly affected.
Plaintiff now seeks to recover damages on behalf of himself and
all other individual and institutional investors who bought or sold
CARBO Ceramics options contracts between October 27, 2011 and January 26, 2012, excluding defendants and their
affiliates, and were damaged thereby. Plaintiff is
represented by Faruqi & Faruqi, LLP, a law firm with extensive
experience in prosecuting class actions and actions involving
corporate fraud.
If you purchased or sold CARBO Ceramics options contracts during
the Class Period and were damaged thereby, you may, not later than
June 11, 2012, move the court to
serve as lead plaintiff of the class, if you so choose. In
order to discuss this action, or if you have any questions
concerning this notice or your rights or interests, please
contact:
Faruqi & Faruqi, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
ATTN: Richard Gonnello, Esq. or
Francis P. McConville, Esq.
rgonnello@faruqilaw.com or fmcconville@faruqilaw.com
Toll Free: (877) 247-4292
Phone: (212) 983-9330
Attorney Advertising. (C) 2012 Faruqi & Faruqi, LLP. The law
firm responsible for this advertisement is Faruqi & Faruqi, LLP
(www.faruqilaw.com). Prior results do not guarantee or predict a
similar outcome with respect to any future matter.
SOURCE Faruqi & Faruqi, LLP