Robbins Arroyo LLP: Pretium Resources, Inc. (PVG) Misled Shareholders According to a Recently Filed Shareholder Lawsuit
SAN DIEGO & VANCOUVER, British Columbia--(BUSINESS WIRE)--Sep 13, 2018--Shareholder rights law firm Robbins Arroyo LLP announces that purchasers of Pretium Resources, Inc. (NYSE: PVG) have filed a class action complaint against the company’s officers and directors for alleged violations of the Securities Exchange Act of 1934 between July 21, 2016 and September 6, 2018. Pretium acquires, explores, and develops precious metal resource properties in the Americas.
View this information on the law firm’s Shareholder Rights Blog: https://www.robbinsarroyo.com/
Pretium Misled Investors Regarding its Mining Output
According to the complaint, Pretium made materially false and misleading statements in press releases and filings with the Securities and Exchange Commission regarding the production and quality of the minerals mined at its Brucejack Mine. On January 23, 2018, Pretium disclosed lower gold production than previously disclosed and delayed achievement of steady state gold production and operation of the grade control program. Then, on September 6, 2018, Viceroy Research reported that the company’s “reported grades and reserves are significantly inflated, a much greater amount of waste is being dumped into local lakes, and more explosives are being utilized” and alleged that “management is scrambling to find consistent, high-grade ore to maintain the charade that its debt and equity are viable.” The most recent disclosure caused Pretium’s stock to decline approximately 10% per share.
Pretium Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm’s website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Sign up for our FREE portfolio monitoring service, Stock Watch.
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CONTACT: Robbins Arroyo LLP
(619) 525-3990 or Toll Free (800) 350-6003
KEYWORD: UNITED STATES NORTH AMERICA CANADA CALIFORNIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Robbins Arroyo LLP
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PUB: 09/13/2018 03:55 PM/DISC: 09/13/2018 03:55 PM