SOURCE: Stull, Stull & Brody

June 27, 2005 18:42 ET

Stull, Stull & Brody Announces Class Action Against Corn Products International Inc.

NEW YORK, NY -- (MARKET WIRE) -- June 27, 2005 -- Notice is hereby given that a class action lawsuit was filed on June 24, 2005, in the United States District Court for the Northern District of Illinois on behalf of all persons who purchased the securities of Corn Products International Inc. ("Corn Products" or the "Company") (NYSE: CPO) between January 25, 2005, and April 4, 2005, inclusive (the "Class Period").

The complaint charges Corn Products, Samuel Scott and Cheryl Beebe with violations of the Securities Exchange Act of 1934. More specifically, the Complaint alleges that the Company failed to disclose and misrepresented the following material adverse facts which were known to defendants or recklessly disregarded by them: (1) that the Company was experiencing manufacturing problems at some of its facilities, which resulted in increased manufacturing expenses; (2) that the Company's net corn costs were significantly higher due to the Company's speculative hedging of Canadian corn; (3) that US sweetener price increase, contrary to the Company's representations, failed to offset higher energy costs; and (4) that as a result of the foregoing, defendants lacked any reasonable basis for their positive statements concerning the Company and its earnings and prospects. On April 5, 2005, Corn Products said that it expected first-quarter diluted earnings per share to decline 35 percent to 40 percent from the first quarter of 2004. News of this shocked the market. Shares of Corn Products fell $4.88 per share or 18.87 percent, on April 5, 2005, to close at $20.98 per share.

If you purchased Corn Products securities during the Class Period, you may request that the Court appoint you as lead plaintiff by July 19, 2005. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Stull, Stull & Brody, or other counsel of your choice, to serve as your counsel in this action. Stull, Stull & Brody has litigated many class actions for violations of securities laws in federal courts over the past 30 years and has obtained court approval of substantial settlements on numerous occasions. Stull, Stull & Brody maintains offices in both New York and Los Angeles.

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 Tzivia Brody, Esq. at Stull, Stull & Brody by e-mail at, or by calling toll-free 1-800-337-4983, or by fax at 212-490-2022, or by writing to Stull, Stull & Brody, 6 East 45th Street, New York, NY 10017. You can also visit our website at

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