Britannia Bulk Holdings Inc. (NYSE:BBLKF) Investor Update: Deadline - 01/05/09 In The Lawsuit

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) December 11, 2008 -- A deadline is coming up in the shareholder lawsuit against Britannia Bulk Holdings Inc. (NYSE:BBLKF) over alleged violations of Securities Laws. The deadline will expire on January 5, 2009.

If you acquired Britannia Bulk Holdings Inc. (NYSE:BBLKF) common stock pursuant or traceable to the Company’s Registration Statement and Prospectus (collectively, the “Registration Statement”) issued in connection with its June 17, 2008 initial public offering (“IPO”), you have certain options and there are strict and short deadlines running. (January 5, 2009). You should contact the Shareholders Foundation, Inc. immediately!

Email: Mail@ShareholdersFoundation.com

or Call us TODAY!

Phone: +1-(858)-779-1554

On Thursday, November 06, 2008, a shareholder of Britannia Bulk Holdings Inc (NYSE:BBLKF) filed a proposed class action lawsuit in the United States District Court for the Southern District of New York on behalf of all persons or entities who acquired Britannia Bulk Holdings Inc. (NYSE:BBLKF) common stock pursuant or traceable to the Company’s Registration Statement and Prospectus (collectively, the “Registration Statement”) issued in connection with its June 17, 2008 initial public offering (“IPO”) over allegedly violating Federal Securities Laws. According to the complaint the plaintiff alleges that Britannia Bulk Holdings Inc. (“Britannia Bulk “ NYSE:BBLKF), certain of its officers and directors and its underwriters violated the Securities Act of 1933. Specifically the complaint alleges that on June 17, 2008, Britannia Bulk accomplished its IPO of 8.3 million shares at $15.00 per share for net proceeds of $116.2 million, pursuant to the Registration Statement and in its first day of trading, Britannia Bulk stock closed at $13.85 per share. But then, on October 28, 2008, Britannia Bulk issued a press release announcing that the Company expected a significant net loss for the third quarter of 2008 compared to the net income achieved during the second quarter of 2008 and the loss was due to problems with hedges Britannia Bulk had entered into earlier in the year, so the lawsuit. The stockholder alleges that in addition Britannia Bulk announced it would not pay a dividend on its common shares for the quarter ended September 30, 2008, or for the foreseeable future and as a result of these news Britannia Bulk’s stock collapsed to $0.16 per share. In addition so the lawsuit, the following day Britannia Bulk disclosed that it had been notified by its lenders that they were accelerating all of its subsidiary’s obligations under a $170 million lending facility and that this would ultimately result in the subsidiary being placed into administration under U.K. insolvency laws.

For more information go to www.ShareholdersFoundation.com or contact us at mail@ShareholdersFoundation.com

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