NEW YORK, Nov. 12, 2008 (GLOBE NEWSWIRE) -- Shalov Stone Bonner & Rocco LLP has filed a securities class action lawsuit against Britannia Bulk Holdings Inc. (NYSE:DWT) (Pink Sheets:BBLKF) on behalf of purchasers of the company's common stock issued in its initial public offering. If you purchased Britannia stock on or before October 28, 2008, you may be eligible to participate in the class action.
To keep investors informed about the Britannia litigation, Shalov Stone Bonner & Rocco LLP has launched a website dedicated exclusively to the class action. The website can be found at: www.britanniaclassaction.com
The complaint filed by Shalov Stone Bonner & Rocco LLP names as defendants the company and certain of its directors, executive officers, and underwriters. The lawsuit alleges, among other things, that the company made material misstatements or omissions in its prospectus and registration statement for its initial public offering filed with the Securities and Exchange Commission. The alleged misstatements and omissions relate to the company's use of "chartered-in capacity," forward freight agreements, and naked bunker fuel hedges. The lawsuit is pending in the United States District Court for the Southern District of New York.
If you purchased shares of Britannia on or before October 28, 2008, and would like to join the lawsuit at this time, you are encouraged to contact Shalov Stone Bonner & Rocco LLP, which has extensive experience in the prosecution of class actions on behalf of investors. For more information about the firm and the Britannia litigation, investors are encouraged to visit: www.britanniaclassaction.com
For additional information, please contact Ralph M. Stone or Thomas G. Ciarlone, Jr., at Shalov Stone Bonner & Rocco LLP, 485 Seventh Avenue, Suite 1000, New York, New York 10018 (telephone: (212) 239-4340; e-mail: rstone@lawssb.com, tciarlone@lawssb.com).
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