Glancy Binkow & Goldberg LLP -- Representing Investors Who Purchased Horizon Lines, Inc. -- Announces Update to Shareholder Lawsuit -- HRZ

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LOS ANGELES, Feb. 6, 2009 (GLOBE NEWSWIRE) -- Glancy Binkow & Goldberg LLP -- representing shareholders of Horizon Lines, Inc. -- announces 24 days remaining to move to be a lead plaintiff in the shareholder lawsuit. All purchasers of the securities of Horizon Lines, Inc. (``Horizon'' or the ``Company'') (NYSE:HRZ - News), between March 2, 2007 and April 25, 2008, inclusive (the ``Class Period''), may move the Court not later than March 2, 2009, to serve as lead plaintiff; however, you must meet certain legal requirements.

If you wish to receive a copy of the Complaint, or have any questions concerning your rights or interests with respect to these matters, please contact Glancy Binkow & Goldberg LLP, 1801 Avenue of the Stars, Suite 311, Los Angeles, California 90067, by telephone at (310) 201-9150, Toll Free at (888) 773-9224, or e-mail to info@glancylaw.com, or visit our website at http://www.glancylaw.com.

The Complaint charges Horizon and certain of its executive officers with violations of federal securities laws. Horizon is a container shipping and logistics company. The Complaint alleges that throughout the Class Period defendants failed to disclose material adverse facts about the Company, including: (1) that Horizon and its co-conspirators had engaged in a conspiracy to suppress and eliminate competition by fixing the rates, surcharges and other fees charged to customers for Puerto Rico freight services; (2) that Horizon's earnings reports and revenue guidance issued during the Class Period were false and misleading; and (3), that the Company lacked adequate internal controls.

On April 25, 2008 Horizon shocked investors when the Company reported Horizon's financial results for first quarter 2008, and revised downward the Company's earnings guidance for the 2008 fiscal year. Subsequently, on October 1, 2008, the United States Department of Justice issued a press release announcing that three Horizon employees had agreed to plead guilty for their roles in a conspiracy to eliminate competition and raise prices for the movement of goods in the United States to Puerto Rico shipping lane.

Plaintiff seeks to recover damages on behalf of Class members and is represented by Glancy Binkow & Goldberg LLP, a law firm with significant experience in prosecuting shareholder lawsuits, and substantial expertise in actions involving corporate fraud.

If you are a member of the Class described above, you may move the Court, not later than March 2, 2009, to serve as lead plaintiff, however, you must meet certain legal requirements. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, or Richard A. Maniskas, Esquire, of Glancy Binkow & Goldberg LLP, 1801 Avenue of the Stars, Suite 311, Los Angeles, California 90067, by telephone at (310) 201-9150 or Toll Free at (888) 773-9224 or by e-mail to info@glancylaw.com.

          Glancy Binkow & Goldberg LLP, Los Angeles, CA
          Lionel Z. Glancy 
          Michael Goldberg 
          Richard A. Maniskas
          (310) 201-9150
          (888) 773-9224
          info@glancylaw.com
          www.glancylaw.com