METAIRIE, La., Aug. 7, 2008 (PRIME NEWSWIRE) -- The Law Offices of Eric J. O'Bell, LLC ("O'Bell") announce that it is continuing its investigation into Reddy Ice Holdings, Inc. ("Reddy Ice" or the "Company") (NYSE:FRZ) to determine whether possible securities law violations have occurred regarding the recent execution of a search warrant.
Reddy Ice, a manufacturer and distributor of packaged ice, announced months ago that a search warrant was executed at the Company's Dallas corporate office on March 5, 2008. Federal antitrust investigations are looking into allegations that three companies, which dominate the U.S. market for wholesale ice, secretly agreed to allocate customers and regional markets among themselves, keeping ice prices high and excluding rivals, according to the Wall Street Journal. Shares of the Company have fallen from a high of over $20 per share since the announcement of the adverse news, to an intraday low of $10.07 per share today.
If you are a Reddy Ice shareholder and/or have information that would assist in this ongoing investigation, or have other questions relating to a loss you've suffered in your investment, you may contact Eric J. O'Bell directly without obligation or cost to you at 504-456-8677; or by email to ejo@obelllawfirm.com.