March 06, 2008 17:07 ET

Brower Piven Announces the Filing of a Class Action Lawsuit Against Superior Offshore International, Inc.

BALTIMORE, MD--(Marketwire - March 6, 2008) - Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Eastern District of Louisiana on behalf of purchasers of the common stock of Superior Offshore International, Inc. ("Superior Offshore" or the "Company") (NASDAQ: DEEP) in connection with the Company's initial public offering on or about April 20, 2007, or who purchased shares thereafter in the open market through January 9, 2008 (the "Class Period").

Superior Offshore, certain of its officers and directors, and the Company's underwriters are charged with including, or allowing the inclusion of, materially false and misleading statements in the Registration Statement and Prospectus issued in connection with the IPO, in violation of the Securities Act of 1933.

No class has yet been certified in the above action. If you are a member of the proposed Class, you may, no later than April 28, 2008, ask the Court to allow you to serve as lead plaintiff for the proposed Class. To serve as a lead plaintiff, you must satisfy certain legal requirements. In making your decision, you should take into account that those with large financial losses resulting from the alleged federal securities law violations are given preference in being appointed lead plaintiff.

If you have suffered a net loss for all transactions in Superior Offshore International, Inc. securities during the Class Period (including shares or calls purchased during, but retained after, the Class Period or put options sold but not covered until after the Class Period), you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven (without obligation or cost to you) at www.browerpiven.com, by email at hoffman@browerpiven.com, by calling 410-986-0036, or at Brower Piven, The World Trade Center-Baltimore, 401 East Pratt Street, Suite 2525, Baltimore, Maryland 21202. Attorneys at Brower Piven have combined experience in securities and class action litigation of over 40 years. If you choose to retain counsel, you may retain Brower Piven, or you may retain other counsel of your choice.