Glancy Binkow & Goldberg Announces Lead Plaintiff Deadline In The Class Action Lawsuit Against Pretium Resources, Inc.
November 27 2013 - 9:32PM
Business Wire
Glancy Binkow & Goldberg LLP announces that all purchasers
of the securities of Pretium Resources, Inc. (“Pretium” or the
“Company”) (NYSE:PVG) between January 19, 2011 and October 21,
2013, inclusive (the “Class Period”), have until December 24, 2013,
to file a motion to be appointed as lead plaintiff in the
shareholder lawsuit filed in the United States District Court for
the Southern District of New York.
A COPY OF THE COMPLAINT IS AVAILABLE FROM THE COURT OR FROM
GLANCY BINKOW & GOLDBERG LLP. PLEASE CONTACT US AT (212)
682-5340, TOLL-FREE AT (888) 773-9224, OR AT
SHAREHOLDERS@GLANCYLAW.COM TO DISCUSS THIS MATTER. IF YOU INQUIRE
BY EMAIL PLEASE INCLUDE YOUR MAILING ADDRESS, TELEPHONE NUMBER AND
NUMBER OF SHARES PURCHASED.
Pretium engages in the acquisition, exploration and development
of precious metal resource properties in the Americas. One of the
Company’s main mineral resource projects is an advanced stage
gold-silver exploration project focused on exploration of mineral
reserves in the Valley of Kings (“VOK”) zone in northwestern
British Columbia. Pretium engaged Strathcona Mineral Services Ltd.
as independent “Qualified Persons” to oversee the Valley of the
Kings bulk sample program and prepare a report at the conclusion of
the project concerning mineral resource estimates.
The Complaint alleges that the defendants misrepresented or
failed to disclose that:
- The mineral resources, potential
mineral reserves and potential gold production in the VOK zone were
exaggerated.
- The Company’s sampling methodology for
the Valley of the Kings Bulk Sample Program was unreliable and
misleading.
On October 22, 2013, Pretium announced the withdrawal of
Strathcona from the Valley of the Kings Bulk Sample Program before
any results from the processing of the bulk sample were available.
According to the Company, in withdrawing from the program
Strathcona advised Pretium that “there are no valid gold mineral
resources for the VOK Zone, and without mineral resources there can
be no mineral reserves, and without mineral reserves there can be
no basis for a Feasibility Study.” Strathcona also advised Pretium
that statements included in all recent press releases by Pretium
about probable mineral reserves and future gold production from the
Valley of the Kings zone over a 22-year mine life are “erroneous
and misleading.” Following this news, Pretium declined 27%, or
$1.27 per share, to close on October 22, 2013, at $3.36 per share,
on unusually heavy trading volume.
To learn more about this action, or if you have any questions
concerning this Notice or your rights or interests with respect to
these matters, please contact Michael Goldberg, Esquire, of Glancy
Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los
Angeles, California 90067, Toll-Free at (888) 773-9224, or contact
Gregory Linkh, Esquire, of Glancy Binkow & Goldberg LLP at 122
E. 42nd Street, Suite 2920, New York, New York 10168, at (212)
682-5340, by e-mail to shareholders@glancylaw.com, or visit our
website at http://www.glancylaw.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
Glancy Binkow & Goldberg LLP, Los Angeles, CAMichael
Goldberg(888) 773-9224orGlancy Binkow & Goldberg LLP, New York,
NYGregory Linkh(212)
682-5340shareholders@glancylaw.comwww.glancylaw.com
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