Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Hecla Mining Company (HL)
NEW YORK, May 28, 2019 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Hecla Mining Company (“Hecla” or the “Company”) (NYSE: HL). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm’s site: www.bgandg.com/hl.
The investigation concerns whether Hecla and certain of its officers and/or directors have violated federal securities laws.
On May 9, 2019, pre-market, Hecla announced its financial and operating results for the first quarter of 2019. Hecla disclosed a “comprehensive review” of its Nevada operations that it characterized during a subsequent conference call as “really just asking the question, are we going to get the return for the investment we’re making.” Hecla disclosed that its Nevada operations suffered from negative cash flow and other negative operating metrics, that it was unclear whether Hecla would ever get a positive return on its investment in the Nevada operations, and that Hecla might write off the Nevada operations. Additionally, Hecla reported a net loss of over $25 million for the first quarter of 2019 based in large part on a gross loss of $13.8 million from its Nevada operations. Following these disclosures, Hecla’s stock price fell $0.48 per share, or roughly 23.5%, over the following two trading days, closing at $1.56 per share on May 10, 2019.
If you are aware of any facts relating to this investigation, or purchased Hecla shares, you can assist this investigation by visiting the firm’s site: www.bgandg.com/hl. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Yael Hurwitz 212-697-6484 | firstname.lastname@example.org