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Case Status:    DISMISSED    
On or around 03/03/2011 (Date of order of final judgment)

Filing Date: March 09, 2009

The complaint alleges that the Registration Statement was materially false and/or misleading because defendants failed to disclose that the Company issued $92.9 million of Series A Convertible Preferred Stock in July 2008 on a net basis as an operating activity -- when the transaction should have been presented on a gross presentation basis as both an operating activity and a financing activity to reflect the cash receipts and disbursements associated with the transaction.

On March 2, 2009, Century Aluminum shocked the market when the Company filed an Interim Report on Form 8-K with the SEC which disclosed that the Company would restate its interim consolidated statement of cash flows for the nine months ended September 30, 2008, to reflect cash flows related to the preferred stock issued in July 2008, which was not presented on the consolidated statement of cash flows in accordance with the Financial Accounting Standards Board's (FASB) Statement of Financial Accounting Standards No. 95 "Statement of Cash Flows."

In response to this news, shares of the Company's stock declined more than 24% per share, to close at $1.67 per share on March 2, 2009. This closing price of Century Aluminum represented a cumulative loss of $2.61, or approximately 60%, of the value of the Company's shares at the time of its Secondary Offering less than two months earlier.

On September 23, 2009, an order granting Stuart Wexler's motion for appointment as sole lead plaintiff and approving selection of lead counsel was granted by the court.

On November 17, 2009, a Consolidated Class Action Complaint for Violation of the Securities laws was filed in the court by the plaintiffs against the defendants. The defendants filed motions to dismiss on January 15 and February 26, 2010. The motion was granted on April 27, 2010. The plaintiffs were given leave to amend.

According to the Company's Form 10-K For The Fiscal Year Ended December 31, 2010, on May 28, 2010 and June 24, 2010 plaintiffs submitted amended complaints. On March 3, 2011, the purported stockholder class actions pending against us consolidated as In re: Century Aluminum Company Securities Litigation, were dismissed with prejudice and judgment was entered in our favor. On March 10, 2011, plaintiffs filed a notice of appeal to the order and judgment entered by the court on March 3, 2011.

COMPANY INFORMATION:

Sector: Basic Materials
Industry: Misc. Fabricated Products
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: CENX
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: N.D. California
DOCKET #: 09-CV-01001
JUDGE: Hon. Susan Illston
DATE FILED: 03/09/2009
CLASS PERIOD START: 01/28/2009
CLASS PERIOD END: 03/02/2009
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Glancy Binkow & Goldberg LLP (Los Angeles)
    1801 Ave. of the Stars, Suite 311, Glancy Binkow & Goldberg LLP (Los Angeles), CA 90067
    310.201.915 310. 201-916 · info@glancylaw.com
  2. Law Offices of Howard G. Smith
    3070 Bristol Pike, Suite 112, Law Offices of Howard G. Smith, PA 19020
    215.638.4847 215.638.4867 ·
No Document Title Filing Date
COURT: N.D. California
DOCKET #: 09-CV-01001
JUDGE: Hon. Susan Illston
DATE FILED: 06/24/2010
CLASS PERIOD START: 10/21/2008
CLASS PERIOD END: 03/02/2009
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Wolf Haldenstein Adler Freeman & Herz LLP (San Diego)
    Symphony Towers; 750 B Street, Suite 2770, Wolf Haldenstein Adler Freeman & Herz LLP (San Diego), CA 92101
    619.239.4599 19.239.4599 ·
No Document Title Filing Date
No Document Title Filing Date