Imperial Sugar Investors Say Stock Doesn't Taste So Sweet

Law360, New York (September 1, 2011, 5:30 PM EDT) -- A group of shareholders lodged a class action against Imperial Sugar Co. and its principals on Thursday in Texas, alleging the company engaged in securities fraud by issuing false and misleading statements about its financial condition.

The shareholders say between December and August, Imperial Sugar executives sought to portray a rosy and inaccurate picture of the company’s growth and future prospects to investors, despite the fact that the company was facing continued problems stemming from a 2008 refinery explosion at its Port Wentworth, Ga., facility that...
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