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Wed, September 21, 2011
Tue, September 20, 2011
Faruqi & Faruqi, LLP Announces Investigation of Imperial Sugar Co.
NEW YORK--([ BUSINESS WIRE ])--Faruqi & Faruqi, LLP, a national law firm concentrating on investor rights, consumer rights and enforcement of federal antitrust laws, is investigating potential wrongdoing at Imperial Sugar Co. (aImperial Sugara or the aCompanya) (NASDAQ: IPSU). Faruqi & Faruqi, LLP seeks to determine whether Imperial Sugar violated federal securities laws in connection with statements made to the Companya™s shareholders.
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The investigation focuses on whether certain individuals violated federal securities laws by, among other things, failing to disclose that: (1) demand for Imperial Sugara™s products declined as a result of steep competition from Mexican and other sugar refiners; (2) the decline in Imperial Sugara™s sales volume was due to lower demand as customers went with lower priced competitors and not due to constraints on the Companya™s refinery production; (3) the Company experienced a significant drop in its gross margins; and (4) the Companya™s Port Wentworth refinery suffered ongoing operating defects which raised production costs and adversely affected the Companya™s gross margins.
On August 5, 2011, Imperial Sugar filed its Form 10-Q for the quarter ended June 30, 2011, revealing that the Companya™s industrial sales volumes had declined by more than 40% from the same prior year period.
Take Action
If you purchased Imperial Sugar securities between April 15, 2011 and August 5, 2011, and you would like to discuss your legal rights, visit [ www.faruqilaw.com/IPSU ]. You can also contact us by calling Anthony Vozzolo or Richard W. Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to [ avozzolo@faruqilaw.com ] or [ rgonnello@faruqilaw.com ]. Faruqi & Faruqi, LLP also encourages anyone with information regarding Imperial Sugara™s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.
About Faruqi & Faruqi, LLP
Faruqi & Faruqi, LLP is a national law firm, representing investors, consumers and companies in the prosecution of claims under state corporate and consumer laws and the federal securities and antitrust laws. The lawyers at Faruqi & Faruqi, LLP have demonstrated a clear commitment to championing the rights of shareholders and consumers nationwide.
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