Bronstein, Gewirtz & Grossman, LLC Announces That a Class Action Has Been Filed Against Intrepid Potash, Inc.
NEW YORK, NY--(Marketwire - March 4, 2009) - Bronstein, Gewirtz & Grossman, LLC announces
that a class action lawsuit has been filed in the United States District
Court for the District of Colorado on behalf of those who purchased or
otherwise acquired the securities of Intrepid Potash, Inc. (NYSE: IPI)
("Intrepid" or the "Company") pursuant and/or traceable to the Company's
Initial Public Offering (the "IPO") on April 21, 2008 (the "Class").
The complaint charges Intrepid and certain of its current and former
executive officers with violations of federal securities laws. The
complaint alleges that the Prospectus and Registration Statement contained
false and misleading statements and in addition failed to disclose that the
Company's President and Chief Operating Officer ("COO") had not received a
B.A. from the University of Colorado or a M.S. degree from Loyola Marymount
University.
On February 11, 2009, the Fraud Discovery Institute revealed that the
Company's President and COO misrepresented his academic credentials in the
Registration Statement issued in connection with the Company's IPO. In
response to the news, shares of common stock declined $1.52 per share to
close at $22.00 per share on that day, which represented a cumulative loss
of approximately 31% of the value of the Company's shares at the time of
its IPO.
No Class has yet been certified in the above action. If you wish to review
a copy of the Complaint, to discuss this action, or have any questions,
please contact either Peretz Bronstein or Eitan Kimelman of Bronstein,
Gewirtz & Grossman, LLC at 212-697-6484 or via email eitan@bgandg.com.
Those who inquire by e-mail are encouraged to include their mailing address
and telephone number. April 20, 2009 is the deadline for investors to seek
a lead plaintiff appointment.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our
primary expertise is the aggressive pursuit of litigation claims on behalf
of our clients. In addition to representing institutions and other
investor plaintiffs in class action security litigation, the firm's
expertise includes general corporate work, private securities offerings,
and securities arbitration.