OKLAHOMA CITY, March 14, 2008 (PRIME NEWSWIRE) -- Federman & Sherwood, who filed the first securities class action in Texas against Superior Offshore International, Inc. and certain of its current officers and directors, urges investors who have lost more than $100,000 to inquire about applying for the lead plaintiff position in the case. No class has yet been certified in this action. The Complaints allege violations of Section 11 and Section 15 of the Securities Act of 1933, including allegations of material misrepresentations and omissions in Superior's IPO prospectus and later to the market. The class period begins with the IPO on April 20, 2007, through the present.
If you wish to serve as lead plaintiff in this class action lawsuit, you must move the court no later than Tuesday, April 29, 2008. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class.
More information on this and other class actions can be found on the Class Action Newsline at www.primenewswire.com/ca/