SOURCE: Shalov Stone Bonner & Rocco LLP

Shalov Stone Bonner & Rocco LLP

August 04, 2009 19:48 ET

Shalov Stone Bonner & Rocco LLP Announces Class Action on Behalf of Tronox Inc. Investors

NEW YORK, NY--(Marketwire - August 4, 2009) - Shalov Stone Bonner & Rocco LLP announces that a class action lawsuit has been filed on behalf of purchasers of Tronox Incorporated ("Tronox" or the "Company") Class A or Class B common stock (PINKSHEETS: TRXAQ) (PINKSHEETS: TROXA) (PINKSHEETS: TRXBQ) (PINKSHEETS: TROXB) between November 28, 2005 and January 12, 2009, inclusive (the "Class Period"). The lawsuit is pending in the United States District Court for the Southern District of New York, and names as defendants Kerr-McGee Corporation ("Kerr-McGee"), Anadarko Petroleum Corporation ("Anadarko"), and certain officers and directors of Kerr-McGee and Tronox. Tronox was not named as a Defendant because it filed for bankruptcy protection.

Tronox was a subsidiary of Kerr-McGee, an oil and gas exploration and production company with significant environmental and tort liabilities. Kerr-McGee spun-off Tronox in a two-step transaction, which included an initial public offering ("IPO") of Tronox Class A common stock that was completed on November 28, 2005. Prior to the IPO, however, Kerr-McGee passed its liabilities onto Tronox. The complaint alleges that, throughout the Class Period, the defendants violated the federal securities laws by misrepresenting and failing to disclose material adverse facts that were known to the defendants or recklessly disregarded by them. More specifically, the complaint alleges that the defendants failed to disclose the true nature and extent of Tronox's environmental and tort liabilities. As the market learned of the true extent of these liabilities, which were far greater than represented, Tronox's stock plummeted, forcing it to file for bankruptcy protection.

Shalov Stone Bonner & Rocco LLP has extensive experience in the prosecution of class actions on behalf of investors. For more information about the firm, please visit its website at: www.lawssb.com

If you would like additional information about the lawsuit or would like to participate in it, please contact investor rights attorney Amanda C. Scuder, at Shalov Stone Bonner & Rocco LLP, 485 Seventh Avenue, Suite 1000, New York, New York 10018 (telephone: (212) 239-4340; email: ascuder@lawssb.com).

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