Cases
Pretium Resources Inc. (PVG)
Securities Class Action
Overview
Overview
- Date:
- 9/10/2018
- Company Name:
- Pretium Resources Inc.
- Stock Symbol:
- PVG
- Class Period:
- FROM 7/21/2016 TO 9/6/2018
- Status:
- Closed/Complete
- Court:
- U.S. District Court: Southern District of New York
NEW YORK, September 10, 2018 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all persons or entities who purchased or otherwise acquired Pretium Resources Inc. (PVG) securities between July 21, 2016 and September 6, 2018 (the “Class Period”). Investors have until November 6, 2018 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The complaint alleges that throughout the Class Period, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, defendants failed to disclose to investors: (1) that the Brucejack Project is not a high-grade, high-output mine; and (2) that, as a result of the foregoing, defendants’ positive statements about the company’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.
On September 6, 2018, Viceroy Research published a report alleging, among other things, 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. The report further stated that management is scrambling to find consistent, high-grade ore to maintain the charade that its debt and equity are viable. On this news, Pretium’s share price fell by nearly 10%, to close at $6.94 on September 6, 2018.
The complaint alleges that throughout the Class Period, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, defendants failed to disclose to investors: (1) that the Brucejack Project is not a high-grade, high-output mine; and (2) that, as a result of the foregoing, defendants’ positive statements about the company’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.
On September 6, 2018, Viceroy Research published a report alleging, among other things, 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. The report further stated that management is scrambling to find consistent, high-grade ore to maintain the charade that its debt and equity are viable. On this news, Pretium’s share price fell by nearly 10%, to close at $6.94 on September 6, 2018.