Abraham, Fruchter & Twersky, LLP Announces That It Has Been Retained to File a Class Action Against Century Aluminum Company

NEW YORK, NY--(Marketwire - March 11, 2009) - Abraham, Fruchter & Twersky, LLP has been retained to file a class action lawsuit in the United States District Court for the Northern District of California on behalf of purchasers of Century Aluminum Company ("Century Aluminum" or the "Company") (NASDAQ: CENX) stock issued pursuant to the registration statement and prospectus (collectively, the "Registration Statement") filed with the Securities and Exchange Commission ("SEC") in connection with Century Aluminum's January 28, 2009 secondary public stock offering (the "Offering").

The Complaint charges Century Aluminum, certain of the Company's executive officers and directors, and the underwriters of the Offering with violations of federal securities laws. Century Aluminum, through its subsidiaries, produces primary aluminum in the United States and internationally. The Company offers molten aluminum, as well as standard-grade ingot, extrusion billet and other value-added primary aluminum products.

The Complaint alleges that the Registration Statement was materially false and/or misleading because defendants failed to disclose that the Company issued $929 million of Series A Convertible Preferred Stock in July 2008 on a net basis as an operating activity -- when the transaction should have been presented on a gross presentation basis as both an operating activity and a financing activity to reflect the cash receipts and disbursements associated with the transaction.

On March 2, 2009, Century Aluminum shocked the market when the Company filed an Interim Report on Form 8-K with the SEC which disclosed that the Company would restate its interim consolidated statement of cash flows for the nine months ended September 30, 2008, to reflect cash flows related to the preferred stock issued in July 2008, which was not presented on the consolidated statement of cash flows in accordance with the Financial Accounting Standards Board's (FASB) Statement of Financial Accounting Standards No. 95 "Statement of Cash Flows."

In response to this news, shares of the Company's stock declined more than 24% per share, to close at $1.67 per share on March 2, 2009. This closing price of Century Aluminum represented a cumulative loss of $2.61, or approximately 60%, of the value of the Company's shares at the time of its Secondary Offering less than two months earlier.

Plaintiff seeks to recover damages on behalf of all purchasers of Century Aluminum secondary common stock during the Class Period (the "Class"). The Plaintiff is represented by Abraham, Fruchter & Twersky, LLP which has extensive experience in securities class action cases, and the firm has been ranked among the leading class action law firms in terms of recoveries achieved by a survey of class action law firms conducted by Institutional Shareholder Services. If you would like to discuss this action or if you have any questions concerning this notice or your rights as a potential class member or lead plaintiff, you may contact: Jack Fruchter or Arthur J. Chen of Abraham, Fruchter & Twersky, LLP at 212-279-5050, or via e-mail at jfruchter@aftlaw.com or achen@aftlaw.com, respectively. If you wish to serve as lead plaintiff, you must move the Court no later than May 10, 2009. Any member of the proposed class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain a member of the proposed class.

Contact Information: Contact: Jack G. Fruchter Arthur J. Chen Abraham, Fruchter & Twersky, LLP One Penn Plaza, Suite 2805 New York, N.Y. 10119 Telephone: (212) 279-5050 Attorney Advertising. Prior Results Do Not Guarantee A Similar Outcome.