| Company: | Sonoco Products Co. |
| Ticker Symbol: | NYSE: SON |
| Class Period: | Sep-07-2007 to Sep-18-2007 |
| Date Filed: | Jun-27-2008 |
| Lead Plaintiff Deadline: | Aug-25-2008 |
| Court: | District, SC |
| Allegations: |
A lawsuit has commenced in the United States District Court for the District of South Carolina on behalf of purchasers of Sonoco Products Co. ("Sonoco" or "the Company") (NYSE:SON) common stock during the period between September 7, 2007 and September 18, 2007 (the "Class Period").
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased Sonoco common stock during the period described above, you have certain rights and have until no later than 60 days from June 27, 2008 in which to move for Lead Plaintiff status. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
The complaint alleges that, during the Class Period, defendants issued a series of materially false and misleading statements concerning the Company's financial performance and prospects. Specifically, the complaint alleges that these statements were materially false and misleading because defendants failed to disclose and/or misrepresented: (i) that the Company was losing market share to its competitors; (ii) that the Company was having operational difficulties in implementing its next generation of products; (iii) that the Company was experiencing weaker sales in its Engineered Carriers and Paper and Consumer Packaging segments, especially in North America; (iv) that the Company was distracted by the loss of a bid on a large contract, which resulted in decreased sales and price concessions on current contracts; (v) that the Company was having a difficult time in moving its old inventory; and (vi) that as a result of the forgoing, the Company had no reasonable basis for its 2007 earnings guidance.
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.
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased Sonoco common stock during the period described above, you have certain rights and have until no later than 60 days from June 27, 2008 in which to move for Lead Plaintiff status. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
The complaint alleges that, during the Class Period, defendants issued a series of materially false and misleading statements concerning the Company's financial performance and prospects. Specifically, the complaint alleges that these statements were materially false and misleading because defendants failed to disclose and/or misrepresented: (i) that the Company was losing market share to its competitors; (ii) that the Company was having operational difficulties in implementing its next generation of products; (iii) that the Company was experiencing weaker sales in its Engineered Carriers and Paper and Consumer Packaging segments, especially in North America; (iv) that the Company was distracted by the loss of a bid on a large contract, which resulted in decreased sales and price concessions on current contracts; (v) that the Company was having a difficult time in moving its old inventory; and (vi) that as a result of the forgoing, the Company had no reasonable basis for its 2007 earnings guidance.
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.
