Rigrodsky & Long, P.A. announces that a complaint has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities that purchased the securities of Central European Distribution Corporation (“CEDC” or the “Company”) (NASDAQ GS: CEDC) between March 1, 2010 and June 4, 2012, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers and directors (the “Complaint”). If you purchased shares of CEDC during the Class Period, or purchased shares prior to the Class Period and still hold CEDC stock, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, NY at (888) 969-4242, by e-mail to firstname.lastname@example.org, or at: http://www.rigrodskylong.com/investigations/central-european-distribution-corporation-cedc. CEDC, a Delaware corporation headquartered in Mount Laurel, New Jersey, operates primarily in the alcohol beverage industry. The Company is one of the largest producers of vodka in the world and is Central and Eastern Europe’s largest integrated spirit beverage business. The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements regarding the Company’s business operations, financial condition and prospects. Specifically, the Complaint alleges that: (1) the Company’s reported net sales in the years ended December 31, 2010 and December 31. 2011 were materially inflated; and (2) as a result of its failure to appropriately account for customer rebates, the Company anticipates restating its reported consolidated net sales, operating profit and related accounts receivable for these periods by approximately $30 to $40 million. As a result of defendants’ false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.
Central European Distribution (Nasdaq:CEDC) hit a new 52-week low Thursday as it is currently trading at $2.73, below its previous 52-week low of $2.75 with 347,910 shares traded as of 11 a.m. ET. Average volume has been 915,600 shares over the past 30 days.