OKLAHOMA CITY, April 2, 2008 (PRIME NEWSWIRE) -- Federman & Sherwood, who filed the first securities class action in Texas against Superior Offshore International, Inc., and certain of its officers and directors, responds to the latest press release filed by the Company on April 1, 2008. The Company announced that it was unable to file its Annual Report on Form 10-K for the year ended December 31, 2007, and that it has hired a financial advisor to assist the Company in exploring a range of financial and strategic alternatives, such as obtaining additional or alternate sources of equity financing, a possible sale or merger of the Company, and even possibly a sale of Company assets.
Federman & Sherwood believes that this latest revelation supports the allegations contained in the Complaint filed by Federman & Sherwood on February 29, 2008 in the United States District Court for the Southern District of Texas.
Federman & Sherwood again reminds those investors who have lost money that the deadline for applying for lead plaintiff status with the Court is April 29, 2008. The class period begins with the IPO on April 20, 2007 through the filing of the Complaint, February 29, 2008.
More information on this and other class actions can be found on the Class Action Newsline at www.primenewswire.com/ca