LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces the filing of a class action lawsuit on behalf of investors who purchased Primero Mining Corp. ("Primero Mining" or the "Company") (NYSE: PPP) securities between October 5, 2012 and February 3, 2016, inclusive (the "Class Period"). Injured investors are encouraged to contact Lesley Portnoy of GPM at 310-201-9150 to discuss their legal rights.
On February 3, 2016, Primero Mining disclosed that its subsidiary, Primero Empresa Minera, S.A. de C.V., had received a legal claim from the Mexican tax authorities that sought to nullify the Advance Pricing Agreement issued in 2012. Upon this news, shares of Primero Mining dropped nearly 27% during intraday trading on February 4, 2016.
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, prospects and performance. Specifically, during the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) PEM was inappropriately recording revenues and taxes from sales under its silver purchase agreement between Primero Mining and Silver Wheaton; and (2) as a result of the foregoing, the Company’s public statements were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Primero Mining investors have until April 15, 2016 to move the Court to appoint you as lead plaintiff if you meet certain legal requirements. If you have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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