Contact Information: Contact: Joseph Gentile SARRAF GENTILE LLP 11 Hanover Square New York, NY 10005 T 212.868.3610 F 212.918.7967 www.sarrafgentile.com
Sarraf Gentile LLP Files Securities Class Action Against Crystallex International Corporation
| Source: Sarraf Gentile LLP
NEW YORK, NY--(Marketwire - December 8, 2008) - On December 8, 2008, the law firm of Sarraf
Gentile LLP commenced a securities fraud class action lawsuit on behalf of
those investors who acquired the securities of Crystallex International
Corporation ("Crystallex" or the "Company") (AMEX : KRY ) during the period
July 28, 2005 to April 30, 2008, inclusive (the "Class Period"). The
lawsuit is pending in the United States District Court for the Southern
District of New York and names as defendants Crystallex and certain of its
former officers.
According to the complaint, the defendants made several statements during
the Class Period about the Company's Las Cristinas Gold Project located in
Sifontes, Venezuela, and that the issuance of the required Venezuelan
government permit in connection with that project was imminent. The
complaint alleges, however, that during the Class Period defendants did not
have a reasonable expectation that the Company would receive the required
permit and that on April 30, 2008, the permit was, in fact, denied. On
news that the permit was denied, the complaint alleges, the Company's stock
fell roughly from a closing price of $1.68 on April 29, 2008, to a closing
price of $0.91on April 30, 2008, on heavy volume.
Plaintiffs are represented by the law firm of Sarraf Gentile LLP, which
have extensive experience in the prosecution of class actions on behalf of
investors.
If you bought the securities of Crystallex between July 28, 2005 and April
30, 2008, you may, no later than 60 days from today, move the Court to
appoint you as lead plaintiff, a representative party that acts on behalf
of other class members. The Court must determine whether the class member's
claim is typical of other class members' claims, and whether the class
member will adequately represent the class. Your ability to share in any
recovery is not, however, affected by the decision whether or not to serve
as a lead plaintiff. You may retain Sarraf Gentile LLP or other counsel of
your choice, to serve as your counsel in this action.
If you would like to participate in this action or would like additional
information about the lawsuit, please contact Joseph Gentile at Sarraf
Gentile LLP, 11 Hanover Square, New York, NY 10005 (telephone:
212-868-3610; e-mail: joseph@sarrafgentile.com).