| Company: | Imperial Sugar Company |
| Ticker Symbol: | ISC |
| Class Period: | Dec-29-10 to Aug-5-11 |
| Date Filed: | Sep-1-11 |
| Lead Plaintiff Deadline: | Oct-31-11 |
| Court: | Southern District of Texas |
| Allegations: | |
The Complaint charges ISC and certain of its officers and directors violated the federal securities laws. Specifically, defendants failed to disclose the following: (i) ISC was experiencing a known reduction in customer demand for its products resulting from Mexican and other sugar refiners selling sugar products into ISC's markets at steeply discounted prices; (ii) that the decline in sales volumes was primarily due to a lack of customer demand ensuing from forays by competitors selling lower-priced products into ISC's markets and not due to Company refinery production supply constraints; (iii) ISC was experiencing a significant decline in its gross margins; and (iv) that ISC's Port Wentworth refinery was experiencing ongoing operating defects that resulted in higher production costs and adversely impacted ISC's gross margins.
On August 5, 2011, ISC filed its Form 10-Q for the quarter ended June 30, 2011, which revealed that the Company's industrial sales volumes had declined by more than 40% from the same prior year period. On this news, shares of ISC fell over 60%.
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.
