NEW YORK, Feb. 10, 2012 /PRNewswire/ -- Faruqi &
Faruqi, LLP, a leading national securities law firm, is
investigating potential securities fraud at Carbo Ceramics, Inc.
("Carbo Ceramics" or the "Company") (NYSE: CRR).
(Logo: http://photos.prnewswire.com/prnh/20120119/MM38856LOGO
)
The investigation focuses on whether the Company and its
executives violated federal securities laws by failing to disclose
that: (1) the Company was experiencing significant declines
in proppant sales for the Haynesville region; and (2) that Carbo
Ceramics was suffering serious logistical problems such that the
Company was unable to shift resources to new and burgeoning
drilling sites.
On January 26, 2012, Carbo
Ceramics issued a press release announcing its financial results
for the fourth quarter and fiscal year 2011. On the same day, the
Company held a conference call with securities analysts for
investors wherein it was revealed that the Company had seen a 70%
decline in proppant sales in the Haynesville region of Louisiana and that Carbo Ceramics had been
unable to shift resources to various new opportunities due to
logistical issues. In response to Carbo Ceramics
disappointing announcements, the price of the Company's common
stock declined from $130.72 per share
to $103.76 on heavy trading
volume.
Request more information now by clicking here:
www.faruqilaw.com/CRR
Take Action
If you purchased Carbo Ceramics securities between October 27, 2011 and January 26, 2012 and would like to discuss your
legal rights, visit www.faruqilaw.com/CRR. You can also
contact us by calling Richard
Gonnello or Francis
McConville toll free at 877-247-4292 or at 212-983-9330 or
by sending an e-mail to rgonnello@faruqilaw.com or
fmcconville@faruqilaw.com. Faruqi & Faruqi, LLP also
encourages anyone with information regarding Carbo Ceramics conduct
to contact the firm, including whistleblowers, former employees,
shareholders and others.
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(www.faruqilaw.com). Prior results do not guarantee or
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We welcome the opportunity to discuss your particular case.
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FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello,
Esq.
rgonnello@faruqilaw.com
Francis McConville, Esq.
fmcconville@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
SOURCE Faruqi & Faruqi, LLP