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Century Aluminum Company Lawsuit


CENX


Century Aluminum Company CENX Securities Stock Fraud

Company: Century Aluminum Company
Ticker Symbol: CENX
Class Period: Apr-24-08 to Mar-2-09
Date Filed: Mar-23-09
Lead Plaintiff Deadline: May-22-09
Court: Northern District of California
Allegations:
A class action has been commenced in the United States District Court for the Northern District of California on behalf of purchasers of Century Aluminum Company (“Century Aluminum”) common stock during the period between April 24, 2008 and March 2, 2009 (the “Class Period”).

Century Aluminum, through its subsidiaries, produces primary aluminum in the United States and internationally. The complaint charges Century Aluminum and certain of its officers and directors with violations of the Securities Exchange Act of 1934.

The complaint alleges that during the Class Period, defendants materially misrepresented the Company’s financial performance.

Specifically, defendants failed to report cash flows associated with the termination of forward financial sales contracts as a financing activity, as required.

On March 2, 2009, the Company filed a Form 8-K with the SEC announcing that on February 27, 2009, the Company determined that its previously issued financial statements for the nine months ended September 30, 2008 should no longer be relied upon as a result of an error in the interim consolidated statement of cash flows. As a result of this disclosure, Century Aluminum’s stock price dropped from $2.22 on February 27, 2009 to $1.67 the next trading day.

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.

Century Aluminum Company CENX Securities Fraud Legal Help

If you have suffered from financial losses, you may qualify for damages or remedies that may be awarded in a possible Century Aluminum Company securities class action lawsuit. Please click the link below to submit your complaint for a free evaluation.
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