DENVER, CO--(Marketwire -02/09/12)- Dyer & Berens LLP (www.DyerBerens.com) today announced that it has filed a class action lawsuit in the United States District Court for the Southern District of New York on behalf of purchasers of Carbo Ceramics, Inc. ("Carbo Ceramics") (NYSE: CRR - News) common stock during the period between October 27, 2011 and January 26, 2012, inclusive (the "Class Period")
What actions may I take at this time? If you purchased shares during the Class Period and wish to serve as a lead plaintiff, you must request an appointment by the court no later than April 9, 2012. If you would like to discuss this action, the lead plaintiff process, or have any questions concerning this notice, please contact plaintiff's counsel, Jeffrey A. Berens, Esq. at (888) 300-3362 x302 or via email at firstname.lastname@example.org. Any member of the putative class may request a lead plaintiff appointment through counsel of its choice or may choose to do nothing and remain an absent class member.
What are the allegations in the complaint? The complaint alleges that, throughout the Class Period, defendants issued materially false and misleading statements regarding the company's business and prospects. Specifically, defendants misrepresented and/or failed to disclose 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 defendants lacked a reasonable basis for their positive statements about the company, its operations and earnings during the Class Period. Based upon the foregoing, the complaint charges the company and certain of its officers with violations of the Securities Exchange Act of 1934.
About Dyer & Berens LLP. The plaintiff is represented by Dyer & Berens LLP. The firm's extensive experience in securities litigation, particularly in cases brought under the Private Securities Litigation Reform Act, has contributed to the recovery of hundreds of millions of dollars for aggrieved investors.