NEW YORK, Aug. 15, 2008 (PRIME NEWSWIRE) -- The Brualdi Law Firm, P.C. announces that a lawsuit has been commenced in the United States District Court for the Eastern District of New York on behalf of purchasers of Reddy Ice Holdings, Inc. ("Reddy Ice" or "the Company") (NYSE:FRZ) common stock during the period between August 10, 2005 - March 6, 2008 (the "Class Period") for violations of the Securities Exchange Act of 1934.
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased Reddy Ice common stock during the period described above, you have certain rights, and have until no later than October 7, 2008 in which to move for Lead Plaintiff status. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Sue Lee at The Brualdi Law Firm, P.C. 29 Broadway, Suite 2400, New York, New York 10006, by telephone toll free at (877) 495-1187 or (212) 952-0602, by email to slee@brualdilawfirm.com or visit our website at http://www.brualdilawfirm.com.
The Complaint alleges that during the Class Period, defendants issued a series of materially false and misleading statements concerning Reddy Ice's financial performance and prospects. In particular, the Complaint alleges that Reddy Ice violated United States antitrust laws and recognized significant revenues as the result of such illegal activities.
On March 6, 2008, after the markets closed, Reddy Ice issued a press release announcing that "federal officials executed a search warrant at the Company's corporate office in Dallas on March 5, 2008." Upon this news, on the next trading day, shares of the Company's stock fell $7.73 per share, or 33%, to close at $15.38 per share, on heavy trading volume.