Century Aluminum Company Shareholder Update: Investigation

Oct. 20, 2009 - PRLog -- Century Aluminum Co. (CENX) has been accused of securities fraud by a lawsuit filed on behalf investors, who purchased CENX shares pursuant and/or traceable to the Registration Statement and Prospectus issued in connection with Century Aluminum Company’s January 28, 2009 and investors, who purchased Century Aluminum Company   common stock during the period between April 24, 2008 and March 2, 2009. But Century Aluminum Company faces also an investigation on behalf current long term CENX investors concerning possible shareholder claims.

If you are a current long-term investor in Century Aluminum Company (Public, NASDAQ-CENX), you have certain options and you should contact the Shareholders Foundation, Inc. at:

Email: mail@shareholdersfoundation.com

or at: +1 (858) 779 - 1554

Multiple investors in Century Aluminum Company  filed lawsuits in the United States District Court for the Northern District of California on behalf of purchasers the common stock of Century Aluminum Company pursuant and/or traceable to the Registration Statement and Prospectus issued in connection with Century Aluminum Company’s January 28, 2009 Secondary Offering and  on behalf of purchasers of Century Aluminum Company   common stock during the period between April 24, 2008 and March 2, 2009. According to the complaint filed on Thursday the plaintiff alleges similar to the other at least six complaints that Century Aluminum Company (“Century Aluminum”) and certain of its officers and directors violated the Securities Exchange Act of 1934. The plaintiff in the complaint from Thursday alleges that alleges that April 24, 2008 and March 2, 2009 the defendants materially misrepresented Century Aluminum’s financial performance by failing to report cash flows associated with the termination of forward financial sales contracts as a financing activity, as required. On March 2, 2009, Century Aluminum filed a Form 8-K with the U.S. Securities and Exchange Commission (“SEC”) announcing that on February 27, 2009, Century Aluminum determined that its previously issued financial statements for the nine months ended September 30, 2008 should no longer be relied upon as a result of an error in the interim consolidated statement of cash flows. As a result of this disclosure, to the plaintiif, Century Aluminum’s stock price  dropped from $2.22 on February 27, 2009 to $1.67 the next trading day.

Century Aluminum Company, located in Monterey, California, is a holding company engaged in producing aluminum. The Company’s principal subsidiaries are Century Aluminum of West Virginia, Inc., Berkeley Aluminum, Inc., Century Kentucky, Inc., and Nordural ehf. Century Aluminum reported in 2007 Total Revenue of $1.79816billion and in 2008 Total Revenue of $1.97078billion.

Those who are current long-term investors in Century Aluminum Company (NasdaqGS: CENX),  have certain options and should contact the Shareholders Foundation, Inc. at:

Email: mail@shareholdersfoundation.com

or at: +1 (858) 779 - 1554

Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423 -
92108 San Diego
Tel:+1-(858)-779-1554
Fax:+1-(858)-605-5739
mail@shareholdersfoundation.com
www.ShareholdersFoundation.com
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Advertising. The Shareholders Foundation, Inc. is an investor advocacy group. We do research related to shareholder issues and inform investors of securities class actions, settlements, judgments, and other legal related news to the stock market. At Shareholders Foundation, Inc. we are in contact with a large number of shareholders. We believe that together we can combine the interests of many investors, and use the size of our interest as leverage against the giant corporations. We offer help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Any statements made in press releases, emails or over the phone by any member or personnel employed by Shareholders Foundation, Inc. or by third parties related to the Shareholders Foundation, Inc. is provided for research and guidance purposes only and are not legal advices. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.