SOURCE: Izard Nobel LLP

February 19, 2009 18:41 ET

Izard Nobel LLP Announces Class Action Lawsuit Against Intrepid Potash, Inc.

HARTFORD, CT--(Marketwire - February 19, 2009) - The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the District of Colorado on behalf of those who purchased or otherwise acquired the securities of Intrepid Potash, Inc. (NYSE: IPI) ("Intrepid Potash" or the "Company") pursuant to the Company's Initial Public Offering (the "IPO") on April 21, 2008 through February 11, 2009 (the "Class Period").

The Complaint charges that Intrepid Potash, and certain of its officers and directors, violated federal securities laws. Specifically, the Prospectus and Registration Statement (collectively the "Registration Statement") filed with the Securities and Exchange Commission in connection with the Company's IPO, contained false statements and failed to disclose the following: (i) the Company's President and Chief Operating Officer ("COO") had not received a B.A. degree from the University of Colorado or a M.S. degree from Loyola Marymount University, as represented in the Registration Statement; and (ii) the Company's President and COO had misrepresented his academic credentials in violation of the Company's Code of Business Conduct.

On February 11, 2009 the Fraud Discovery Institute issued a report revealing that the Company's President and COO had affirmatively lied and misrepresented his educational qualifications in the Registration Statement issued in connection with Intrepid Potash's IPO. On this news, the Company's stock declined $1.52 per share to close at $22.00 per share on February 11, 2009.

If you are a member of the class, you may, no later than April 20, 2009, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.

While Izard Nobel LLP has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, and your rights, visit: www.izardnobel.com/intrepidpotash/, or contact Izard Nobel LLP toll-free: 800-797-5499, or e-mail: firm@izardnobel.com. For more information about class action cases in general, please visit our website: www.izardnobel.com.

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