The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Pretium Resources Inc. (NYSE: PVG) who purchased shares between July 21, 2016 and September 6, 2018. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
(1) the Brucejack Project is not a high-grade, high-output mine; and (2) as a result of the foregoing, defendants’ statements about Pretium’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages. On January 23, 2018, Pretium disclosed lower gold production than previously disclosed. 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.”
Shareholders have until November 6, 2018 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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