NEW YORK, Aug. 10, 2005 (PRIMEZONE) -- The Rosen Law Firm (http://www.rosenlegal.com) announced today it has filed a class action lawsuit on behalf of purchasers of Custom Designed Compressor Systems, Inc. (Pink Sheets:CPYJ) ("CDC" or the "Company") common stock during the period September 14, 2004 through October 22, 2004, inclusive (the "Class Period"). The case is pending in the U.S. District Court for the District of New Mexico, case no. 05-cv-848.
The complaint charges that CDC and its chief executive, Shelby Ball, violated Securities 10(b) and 20(a) of the Securities and Exchange Act, as well as state securities laws by issuing false press releases describing CDC as a profitable manufacturer of custom compressor systems using proprietary designs that enabled marginally producing natural gas wells to extract and distribute gas. In reality, CDC owned few assets and its repeated claims of revenue streams, lucrative contracts with major producers, and unique compressor technologies were gross exaggerations of CDC's actual business operations. Ball condoned the further distribution of CDC's false press releases through spam emails and broadcast faxes.
To join the CDC litigation as a plaintiff or for further information, please call Laurence Rosen, Esq. toll free at (866) 767-3653 or email lrosen@rosenlegal.com.
You can join the class action online at http://www.rosenlegal.com.
A class action lawsuit has already been filed on behalf of CDC shareholders. If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to join the litigation or to discuss your rights or interests regarding this class action, please contact plaintiff's counsel, Laurence Rosen, Esq. of The Rosen Law Firm toll free at (866) 767-3653 or via e-mail at lrosen@rosenlegal.com.
The Rosen Law Firm http://www.rosenlegal.com has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud. The Rosen Law Firm represents investors throughout the nation, concentrating its practice in securities class actions.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca.