SOURCE: Dyer & Berens LLP

Dyer & Berens LLP

October 07, 2011 16:17 ET

Dyer & Berens LLP Files Class Action Lawsuit on Behalf of Investors Who Purchased Imperial Sugar Company Common Stock Between 12/29/10 and 8/5/11; Announces Investor Deadline (IPSU)

DENVER, CO--(Marketwire - Oct 7, 2011) - 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 Texas on behalf of all persons who purchased the common stock of Imperial Sugar Company (the "Company") (NASDAQ: IPSU) between December 29, 2010 and August 5, 2011, 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 October 31, 2011. 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 jeff@dyerberens.com. 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 charges that, during the Class Period, defendants issued materially misleading statements regarding the Company's business. Specifically, the plaintiff alleges that the Company knew but failed to disclose that: (1) it was experiencing a reduction in customer demand for its products resulting from other refiners selling products at steeply discounted prices; (2) the decline in sales volumes was primarily due to a lack of customer demand ensuing from competitors selling lower-priced products and not due to refinery production supply constraints; (3) it was experiencing a significant decline in its gross margins; and (4) its Port Wentworth refinery was experiencing ongoing operating defects that negatively impacted its gross margins. 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, which has expertise in prosecuting investor class actions involving financial fraud. 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.

Contact Information

  • Contact:

    Jeffrey A. Berens
    Dyer & Berens LLP
    303 East 17th Avenue, Suite 300
    Denver, CO 80203
    Tel: (888) 300-3362 x302
    Email: Email Contact
    Website: www.DyerBerens.com