mail@shareholdersfoundation.com
On Friday a shareholder of Horizon Lines Inc. has filed a proposed securities class action lawsuit in the United States District Court for the District of Delaware on behalf of persons or entities who purchased or otherwise acquired the securities of Horizon Lines, Inc. during the period March 2, 2007 through April 25, 2008 against Horizon Lines and certain of the Company’s executive officers for alleged violations of Federal Securities Laws.
If you currently hold and or purchased securities of Horizon Lines, Inc. (NYSE: HRZ) during the period March 2, 2007 through April 25, 2008, you have certain options and there are short and strict deadlines running ( February 30, 2009). You should contact the Shareholders Foundation, Inc. immediately.
Email: Mail@ShareholdersFoundation.com
or Call us
Phone: +1-(858)-779-
According to the complaint the plaintiff alleges that Horizon Lines Inc. and certain its executive officers violated the Securities Exchange Act of 1934. by issuing false and misleading statements or failing to disclose material adverse facts about its business, operations and prospects. Among other things, plaintiff alleges that defendants misled investors as to Horizon Lines Inc.’s profitability and artificially inflated its stock price, by entering into improper price-fixing agreements with competitors, in violation of federal antitrust laws. Then on April 17, 2008, Horizon Lines, Inc. shocked investors when it revealed that it was the subject of an antitrust investigation being conducted by the United States Department of Justice Antitrust Division. On this news, so the lawsuit, Horizon Lines Inc.’s shares declined $3.53 per share, or 19.36 percent, to close on April 17, 2008, at $14.70 per share, on unusually heavy trading volume. On April 25, 2008, Horizon Lines announced reported its financial results for the 2008 fiscal first quarter ended March 23, 2008, and revised downward the company’s earnings guidance for the 2008 fiscal year. This news, so the lawsuit, caused Horizon Lines Inc.’s shares to decline $3.83 per share, or 23.10 percent, to close on April 25, 2008, at $11.25 per share. On October 1, 2008, the United States Department of Justice Antitrust Division issued a press release announcing that four shipping executives – including three Horizon employees – had agreed to plead guilty for their roles in a conspiracy to eliminate competition and raise prices for the movement of goods between the U.S. and Puerto Rico shipping lane, by agreeing not to compete for one another’s customers, agreeing to rig bids submitted to government and commercial buyers, and agreeing to fix the prices of rates, surcharges and other fees charged to customers.
If you currently hold and or purchased securities of Horizon Lines, Inc. (NYSE: HRZ) during the period March 2, 2007 through April 25, 2008, you have certain options and there are short and strict deadlines running (February 30, 2009). You should contact the Shareholders Foundation, Inc. immediately.
Email: Mail@ShareholdersFoundation.com
or Call us
Phone: +1-(858)-779-
or send us your information by mail /facsimile
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423 -
92108 San Diego
Tel:+1-(858)-
Fax:+1-(858)-
Mail@ShareholdersFoundation.com
www.ShareholdersFoundation.com
____________________________________________________________
Photo:
http://www.prlog.org/
