NAPLES, FL--(Marketwire -02/14/12)- National securities law firm Gilman Law LLP announces that a CARBO Ceramics Securities Fraud Lawsuit commenced in the US District Court, Southern District of New York on behalf of purchasers of CARBO Ceramics' common stock (NYSE: CRR - News). The lawsuit alleges that CARBO Ceramics and certain of its officers and directors issued materially false and misleading statements to investors, thereby violating the Securities Exchange Act of 1934.
Those who purchased or otherwise acquired shares of CARBO Ceramics common stock between October 27, 2011 and January 26, 2012 (the "class period"), and incurred losses in excess of $50,000 should contact the securities law firm Gilman Law LLP before the April 9, 2012 Deadline. Investors may contact Ken Gilman, the managing partner of Gilman Law LLP, at (239) 221-8301 or by email at email@example.com for a Free Evaluation of your case. Investors may also read more about the CARBO Ceramics Securities Fraud Lawsuit on the Gilman Law Securities Fraud website.
CARBO Ceramics Securities Fraud Lawsuit Details
CARBO Ceramics manufactures and supplies ceramic proppants primarily used in the hydraulic fracturing of natural gas and oil wells in the Unites States and internationally. The CARBO Ceramics securities fraud lawsuit alleges that CARBO Ceramics failed to disclose that the Company was experiencing a dramatic decline in proppant sales in the Haynesville region. The suit further alleges that due to logistical problems and inability to shift resources to liquid plays where drilling activity was increasing, the Company was being negatively impacted. As a result, CARBO lacked a reasonable basis for their positive statement about the Company, its operations and earnings during the Class Period. Once CARBO began to disclose the truth on January 26, 2012, the price of CARBO Ceramics common stock dropped from $130.72 per share to $103.76 on heavy trading volume.
About Gilman Law
The securities lawyers of Gilman Law have more than 32 years of experience in securities law and have been involved in all major aspects of securities litigation. Gilman Law specializes in cases involving stock manipulation, securities fraud, investments fraud, shareholder rights violations, and securities arbitration.