Lawsuit Overview
November 22, 2013 - The court entered a final judgment dismissing the case with prejudice.
November 21, 2013 - The court ordered the case dismissed.
November 8, 2013 - The lead plaintiff filed a notice not to amend.
September 27, 2013 - The court granted the defendants’ motion to dismiss, without prejudice and with leave to file a second amended complaint.
May 7, 2012 - The defendants filed a motion to dismiss.
March 22, 2012 - The lead plaintiff filed an amended consolidated complaint on behalf of investors who purchased Imperial Sugar Company (NASDAQ: IPSU) common shares between December 29, 2010 and August 4, 2011. The plaintiff alleges that the defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements between December 29, 2010 and August 4, 2011.
February 1, 2012 - Lead plaintiff and lead counsel were appointed.
October 31, 2011 - Lead plaintiff motion was filed.
October 28, 2011 - All cases were consolidated.
September 1, 2011 - An investor in shares of Imperial Sugar Company (NASDAQ: IPSU) filed a lawsuit in U.S. District Court for the Southern District of Texas against Imperial Sugar Company over alleged Violations of Federal Securities Laws.
According to the complaint the plaintiff alleges on behalf purchasers of Imperial Sugar Company (NASDAQ: IPSU) common stock during the period between December 29, 2010 and August 5, 2011, that Imperial Sugar Company and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing materially false and misleading statements regarding its business and prospects.
Imperial Sugar Company reported an increase in its 12months Total Revenue from $552.56million reported on Sept. 30, 09 to $908.03million reported on Sept. 30, 2010. Its Net Income rose within the same time frame from a Net Loss of $23.18million to a Net Income $136.86million.
Shares of Imperial Sugar Company (NASDAQ: IPSU) increased from as low as $5.35 in March 09 to as high as $25.40 on August 2, 2011.
Then on August 5, 2011, Imperial Sugar Company announced its third fiscal quarter 2011 results. Among other things, Imperial Sugar Company reported net sales for the third fiscal quarter 2011 of $197 million, compared to $261 million for the same period last year and a Net Loss of $16.1 million, or $1.35 per diluted share, for the third fiscal quarter ended June 30, 2011, compared to a net loss of $5.7 million, or $0.48 per diluted share, for the third fiscal quarter of 2010. Imperial Sugar Company also said that for the nine-month period ended June 30, 2011 Imperial Sugar Company reported a net loss of $20.8 million, or $1.75 per diluted share, compared to net income of $139.2 million, or $11.53 per diluted share, for the same period last year.
Shares of Imperial Sugar Company (NASDAQ: IPSU) fell from as high as $24.49 on August 2, 2011 to $7.79 on August 8, 2011 and continued to decline to as low as $6.56 on August 25, 2011.
IPSU stocks closed on September 2nd at $7.88 per share.