Shareholders Take Shot At European Vodka Co.

Law360, New York (October 25, 2011, 1:46 PM EDT) -- Central European Distribution Corp. shareholders on Monday filed a class action that blames a recent drop in the European megadistiller's share prices on misinformation.

CEDC, the self-described world's largest vodka maker and a major supplier of spirits to markets in Central and Eastern Europe, saw its share prices fall from $22.85 to $14.33 — a 37 percent drop — in early March after the company announced lower-than-expected earnings.

The lawsuit, filed in New Jersey federal court, claims CEDC executives held back news that the vodka portfolio...
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