Intrepid Potash, Inc.

Class Period: After Apr 21, 2008

Lead Plaintiff Deadline: Apr 20, 2009 + Deadline passed

Summary of Case:

A securities class action has been filed against Intrepid Potash, Inc. (Ticker: IPI) ("Intrepid Potash" or the "Company") on behalf of persons who purchased or otherwise acquired Intrepid Potash securities pursuant and/or traceable to the Company's April 21, 2008 Initial Public Offering (the "IPO" or the "Offering"). 

The Complaint alleges that on April 21, 2008, the Company completed its IPO. In connection therewith, Intrepid Potash issued a Registration Statement and Prospectus (collectively the "Registration Statement") which stated information about the educational credentials of the Company's directors, executive officers, and key employees, including among others, Intrepid Potash's President and Chief Operating Officer ("COO").  

On February 11, 2009 investors were shocked by a report on the market issued by the Fraud Discovery Institute revealing that the Company's President and COO had affirmatively lied and misrepresented his educational credentials in the Company's Registration Statement. 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 3 1.25%, of the value of the Company's shares at the time of its IPO just months earlier.   After the market closed on February 11, 2009, Intrepid Potash issued a press release disclosing that that the Company's President and COO was resigning and confirmed that the statements contained in the Company's Registration Statement about the educational credentials of the Company'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."  

In connection with the Company's IPO, defendants, in the Registration Statement failed to disclose or indicate the following: (1) that the Company's President and COO did not receive a B.A. degree from the University of Colorado or a M.S. degree from Loyola Marymount University, as represented in the Registration Statement; and (2) that the Company's President and COO had misrepresented his academic credentials in violation of the Company's Code of Business Conduct. As a result of defendants' wrongful acts and omissions, and the precipitous decline in the market value of the Company's securities, plaintiff and other class members have suffered significant losses and damages.

If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.