mail@shareholdersfoundation.com
On Wednesday an investor in Intrepid Potash, Inc (NYSE: IPI) has filed a proposed securities class action lawsuit in the United States District Court for the District of Colorado on behalf of a class consisting of all persons or entities who purchased or otherwise acquired the securities of Intrepid Potash, Inc. (NYSE: IPI) pursuant and/or traceable to the Company's Initial Public Offering (the "IPO") on April 21, 2008 against Intrepid Potash, Inc and a certain current and former executive officer over alleged violations of Securities Laws.
If you purchased or otherwise acquired the securities of Intrepid Potash, Inc. (NYSE: IPI) pursuant and/or traceable to the Company's Initial Public Offering (the "IPO") on April 21, 2008, you have certain options and there are strict and short deadlines running (April 17, 2009). You should contact the Shareholders Foundation, Inc. immediately!
Email: mail@shareholdersfoundation.com
Or call us at: +1(858) 779 1554
According to the complaint the plaintiff alleges that Intrepid Potash, Inc. (NYSE: IPI; “Intrepid Potash”), as well as a current and a former executive officer violated federal securities laws by filing the Prospectus and Registration Statement (collectively the "Registration Statement") with the U.S. Securities and Exchange Commission in connection with the Company's IPO, which contained false and misleading statements and failed to disclose material information. Then on February 11, 2009 a report was issued by the Fraud Discovery Institute revealing that the Intrepid Potash 's President and COO had affirmatively lied and misrepresented his educational qualifications in the Registration Statement issued in connection with Intrepid Potash's IPO. In response to this news, shares of the Company's stock declined $1.52 per share to close at $22.00 per share on February 11, 2009. This closing price on Intrepid Potash represented a cumulative loss of $10.00, approximately 31.25%, of the value of the Company's shares at the time of its IPO just months earlier, so the lawsuit.
After the market closed on February 11, 2009, Intrepid Potash issued a press release disclosing that the Company's President and COO was resigning and confirmed that the statements contained in the Intrepid Potash's Registration Statement about the educational qualifications of the Intrepid Potash 's President and COO were false and that the "misrepresentation of his academic credentials was a violation under the Company's Code of Business Conduct."
If you purchased or otherwise acquired the securities of Intrepid Potash, Inc. (NYSE: IPI) pursuant and/or traceable to the Company's Initial Public Offering (the "IPO") on April 21, 2008, you have certain options and there are strict and short deadlines running (April 17, 2009). You should contact the Shareholders Foundation, Inc. immediately!
mail@shareholdersfoundation.com
Or call us at: +1(858) 779 1554
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
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