| Company: | Custom Designed Compressor Systems, Inc. |
| Ticker Symbol: | Pink Sheets:CYPJ |
| Class Period: | September 14, 2004 to October 22, 2004 |
| Date Filed: | Aug-10-05 |
| Lead Plaintiff Deadline: | Oct-08-05 |
| Court: | District, NM |
| Allegations: |
A securities class action was has been filed on behalf of purchasers of Custom Designed Compressor Systems, Inc. (Pink Sheets:CYPJ) ("CDC" or the "Company") common stock during the period September 14, 2004 through October 22, 2004, inclusive (the "Class Period"). The case is pending in the U.S. District Court for the District of New Mexico, case no. 05-cv-848.
The complaint charges that CDC and its chief executive, Shelby Ball, violated Securities 10(b) and 20(a) of the Securities and Exchange Act, as well as state securities laws by issuing false press releases describing CDC as a profitable manufacturer of custom compressor systems using proprietary designs that enabled marginally producing natural gas wells to extract and distribute gas. In reality, CDC owned few assets and its repeated claims of revenue streams, lucrative contracts with major producers, and unique compressor technologies were gross exaggerations of CDC's actual business operations. Ball condoned the further distribution of CDC's false press releases through spam emails and broadcast faxes.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
At LawyersandSettlements.com, it is our goal to keep you informed about important legal cases and settlements. We are dedicated to helping you resolve your legal complaints.
The complaint charges that CDC and its chief executive, Shelby Ball, violated Securities 10(b) and 20(a) of the Securities and Exchange Act, as well as state securities laws by issuing false press releases describing CDC as a profitable manufacturer of custom compressor systems using proprietary designs that enabled marginally producing natural gas wells to extract and distribute gas. In reality, CDC owned few assets and its repeated claims of revenue streams, lucrative contracts with major producers, and unique compressor technologies were gross exaggerations of CDC's actual business operations. Ball condoned the further distribution of CDC's false press releases through spam emails and broadcast faxes.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
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If you have suffered from financial losses, you may qualify for damages or remedies that may be awarded in a possible class action lawsuit. Please fill in our form on the right to submit your complaint and we will have a lawyer review your securities complaint.At LawyersandSettlements.com, it is our goal to keep you informed about important legal cases and settlements. We are dedicated to helping you resolve your legal complaints.
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