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...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Dawes v. Imperial Sugar Company et al


Case Number

4:11-cv-03250

Court

Texas Southern

Nature of Suit

850(Securities/Commodities)

Judge

Judge Lee H Rosenthal

Date Filed

September 1, 2011

Law Firms

Companies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.