Case Page

 

Case Status:    DISMISSED    
On or around 01/31/2014 (Date of order of final judgment)

Filing Date: February 09, 2012

According to the complaint, throughout the Class Period, defendants issued materially false and misleading statement regarding the Company’s business and prospects. Specifically, defendants misrepresented and/or failed to disclose the following adverse facts: (a) that the Company was experiencing a dramatic decline in sales in the Haynesville region; (b) that the Company was being negatively impacted by logistical problems such that it was not able to shift resources to liquid plays where drilling activity was increasing; and (c) that, based on the foregoing, defendants lacked a reasonable basis for their positive statements about the Company, its operations and earnings during the Class Period.

On January 26, 2012, Carbo Ceramics issued a press release announcing its financial results for the fourth quarter and fiscal year 2011, the periods ending December 31, 2011. That same day, the Company held a conference call with securities analysts for investors wherein it was revealed that the Company had seen a 70% decline in proppant sales in the Haynesville region and that it had been unable to shift resources to various liquid plays due to logistical issues. In response to the Company’s announcements, the price of Carbo Ceramics common stock declined from $130.72 per share to $103.76 on heavy trading volume.

On June 22, 2012, the Court entered an Order consolidating cases, appointing lead plaintiffs, and approving the selection of lead counsel.

On August 14, 2012, the Plaintiffs filed their consolidated amended complaint.

On June 26, 2013, the Court granted the defendants' motion to dismiss. Plaintiffs may move for leave to replead.

On January 29, 2014, the Court issued an Order denying Plaintiffs' motion to amend. Judgment was entered in favor of Defendants.

COMPANY INFORMATION:

Sector: Energy
Industry: Oil Well Services & Equipment
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: CRR
Company Market: New York SE
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: S.D. New York
DOCKET #: 12-CV-01034
JUDGE:
DATE FILED: 02/09/2012
CLASS PERIOD START: 10/27/2011
CLASS PERIOD END: 01/26/2012
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Dyer & Berens LLP
    303 East 17th Avenue, Suite 300, Dyer & Berens LLP, CO 80203
    303.861.1764 303.861.1764 ·
  2. Holzer Holzer & Fistel, LLC (Atlanta)
    200 Ashford Center North, Suite 300, Holzer Holzer & Fistel, LLC (Atlanta), GA 30338
    770.392.0090 770.392.0090 ·
  3. Robbins Geller Rudman & Dowd LLP (Melville)
    58 South Service Road, Suite 200, Robbins Geller Rudman & Dowd LLP (Melville), NY 11747
    631.367.7100 631.367.1173 ·
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 12-CV-01034
JUDGE:
DATE FILED: 08/14/2012
CLASS PERIOD START: 10/27/2011
CLASS PERIOD END: 01/26/2012
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Faruqi & Faruqi LLP (New York)
    685 3rd Avenue 26th Floor, Faruqi & Faruqi LLP (New York), NY
    212..983.9330 212..983.9331 ·
  2. Robbins Geller Rudman & Dowd LLP (Melville)
    58 South Service Road, Suite 200, Robbins Geller Rudman & Dowd LLP (Melville), NY 11747
    631.367.7100 631.367.1173 ·
No Document Title Filing Date