Company: Pretium Resources Inc.
Class Period: July 21, 2016 — September 6, 2018
Court: U.S.D.C. – Southern District of New York
Deadline: November 6, 2018
Kaskela Law LLC announces that a shareholder class action lawsuit has been filed against Pretium Resources Inc. (“Pretium” or the “Company”) (NYSE: PVG) on behalf of purchasers of the Company’s securities between July 21, 2016 and September 6, 2018, inclusive (the “Class Period”).
The shareholder class action complaint alleges that defendants made a series of false and misleading statements during the Class Period and failed to disclose material information to investors about the Company’s Brucejack Project. The complaint further alleges that, as a result of the foregoing, investors purchased Pretium’s securities at artificially inflated prices during the Class Period, and suffered investment losses as a result of defendants’ conduct.
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, shares of Pretium’s stock fell $0.77 per share, or nearly 10%, to close at $6.94 on September 6, 2018, thereby injuring investors.
IMPORTANT DEADLINE: Investors who purchased Pretium’s securities during the Class Period may, no later than November 6, 2018, seek to be appointed as a lead plaintiff representative of the class.
Investors who purchased the Company’s securities during the Class Period and suffered a financial loss are encouraged to complete the information form on this page, or to contact Kaskela Law at (888) 715 – 1740 to discuss their important legal rights and recovery options.