House & Home
House and Home
House and Home
Thu, September 8, 2011
Kendall Law Group Investigates Imperial Sugar Company
DALLAS--([ BUSINESS WIRE ])--[ Kendall Law Group ], a national securities firm led by a former federal judge with attorneys that include a former U.S. Attorney, is investigating Imperial Sugar Company (NASDAQ: IPSU) for shareholders. The investigation concerns possible breaches of fiduciary duty and other violations of the law by certain officers and directors of the Company. Imperial Sugar shareholders are urged to contact the Kendall Law Group at 877-744-3728 or by email at [ investor@kendalllawgroup.com ].
On August 5, 2011, Imperial Sugar filed its Form 10-Q for the quarter ended June 30, 2011, and shocked investors by revealing that the Companya™s industrial sales volumes had declined by more than 40% from the same prior year period. As a result, Imperial Sugar stock fell by over 60%, from $23.19 on August 4, 2011 to $9.44 on August 5, 2011. On September 1, 20011, a class action complaint was filed in the Southern District of Texas charging Imperial Sugar and certain of its officers and directors with violations of federal securities laws. Specifically, the complaint charges those officers and directors with failing to disclose a known reduction in customer demand for its products resulting from other sugar refiners selling sugar products at steeply discounted prices, a decline in sales volumes primarily due to a lack of customer demand not due to the companya™s refinery production supply constraints, and a significant decline in the companya™s gross margins.
Kendall Law Group has the credentials and experience to pursue any type of complex securities litigation. The firm helps shareholders exercise their power to protect their investments when companies break the law. If you are an Imperial Sugar shareholder, you are encouraged to contact the Kendall Law Group to learn more about your rights.
