Century Aluminum Company long-term Investor Investigation

If you are a current long term investor in Century Aluminum Company (NASDAQ:CENX), including those who purchased CENX stock prior to April 2008 and continue to hold their CENX shares, you have certain options and you should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this investigation, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Century Aluminum Company
Affected Securities: 

A lawsuit on behalf of investors of Century Aluminum Company, who purchased CENX shares in connection with Century Aluminum Company’s January 28, 2009 Secondary Offering and April 24, 2008 and March 2, 2009 is currently pending in the United States District Court for the Northern District of California. Meanwhile an investigation on behalf of current long term investors in Century Aluminum Company (Public, NASDAQ:CENX) over potential reaches of fiduciary duty and other violations of the law by certain officers and directors at Century Aluminum Company was announced.

According to the lawsuit currently pending in the United States District Court for the Northern District of California the plaintiff alleges that Century Aluminum Company and certain of its officers and directors violated the Securities Exchange Act of 1934. The plaintiff alleges that alleges that between 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 plaintiff, Century Aluminum’s stock price (NASDAQ: CENX) dropped from $2.22 on February 27, 2009 to $1.67 the next trading day.