NEW YORK, August 11, 2003 (PRIMEZONE) -- Kirby, McInerney & Squire LLP Announces Class Action Lawsuit on Behalf of Crompton Corporation Investors
The law firm of Kirby McInerney & Squire, LLP announces that a class action lawsuit has been commenced in the United States District Court for the District of Connecticut on behalf of all purchasers of Crompton Corporation ("Crompton" or the "Company") (NYSE:CK) securities during the period from October 26, 1998 through October 8, 2002, inclusive (the "Class Period").
Please visit our website, which offers summary and detailed information concerning the suit at http://www.kmslaw.com/new_cases/Crompton/Crompton.htm or contact us by phone at (888) 529-4787 or by email at emui@kmslaw.com for more information.
The action charges Crompton and certain of its senior officers with violations of Sections 10(b) and Rule 10b-5 of the Securities Exchange Act of 1934. The alleged violations stem from the dissemination of false and misleading statements, which had the effect - during the Class Period - of artificially inflating the price of Crompton's shares.
On October 8, 2002, the Company shocked the market by disclosing that it and several of its employees had been issued grand jury subpoenas in connection with an investigation by U.S. and European Union authorities concerning allegations of collusive dealings in the rubber chemicals industry. News of this announcement stunned the market. On October 9, 2002, shares of Crompton fell $3.25 or 35.5% to close at $5.90 per share, down from $9.15 per share.
If you are a member of the class described above, you may, no later than September 16, 2003, move the Court to serve as lead plaintiff of the class, if you so choose, pursuant to the Private Securities Litigation Reform Act of 1995 (the "PSLRA"), 15 U.S.C. section 78u-4(a). A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Under certain circumstances, one or more class members may together serve as lead plaintiff. Your ability to share in any recovery is not, however, affected by the decision whether or not to seek appointment as a lead plaintiff. For more information about the case, its claims, and your rights, you can contact:
Pamela Kulsrud, Esq. Elaine Mui KIRBY McINERNEY & SQUIRE, LLP 830 Third Avenue, 10th Floor New York, New York 10022 Telephone: (212) 317-2300 or Toll Free (888) 529-4787 E-Mail: emui@kmslaw.com
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca