DALLAS, Jan. 24, 2006 (PRIMEZONE) -- There are only 6 more days until the January 30, 2006 deadline to file for appointment of Lead Plaintiff in the pending class action lawsuit against Stone Energy Corp. (NYSE:SGY) ("Stone Energy" or the "Company"). If you purchased the securities of Stone Energy between June 17, 2005 and October 6, 2005, inclusive (the "Class Period"), you may contact Baron & Budd, P.C. to discuss your legal options.
On November 30, 2005, the first complaint was filed against Stone Energy alleging violations of the Federal securities laws. This suit arose from the Company's October 6, 2005 press release announcing that it intended to take a significant reserve write-down, among other things. Then, on November 8, 2005, the Company issued a press release announcing that it will restate its financial statements for the periods from 2001 to 2004 and for the first six months of 2005.
On this news, Stone Energy shares fell $7.93, or almost 14 percent, to close at $48.14 per share on unusually heavy trading volume.
If you are a member of this class and would like to take action in this suit, you may contact Baron & Budd, P.C. at the phone number below. You may also visit Baron & Budd online (http://www.securitiesactions.com). Information on your legal rights can be obtained by contacting the law firm of Baron & Budd, P.C.
About Baron & Budd, P.C.
Since 1977, the law firm of Baron & Budd, P.C. has championed the rights of people and communities harmed by corporate misconduct. With over 80 attorneys and offices in Texas, Illinois, Ohio, Louisiana, and New York, Baron & Budd enjoys a national reputation as a leader of the plaintiff's bar. The firm represents individuals with mesothelioma and other diseases caused by asbestos; leukemia and lymphoma caused by benzene; and injuries caused by other toxic substances and pharmaceuticals. The firm also represents water authorities seeking clean-up costs for drinking water contamination; securities investors defrauded by corporate wrongdoing; and consumers. For more information about Baron & Budd, call 1-800-222-2766 or visit http://www.baronandbudd.com. For more information about Baron & Budd's securities litigation practice, please visit www.securitiesactions.com.
More information on this and other class actions can be found on the Class Action Newsline at http://www.primezone.com/ca.