BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Asanko Gold Inc. (“Asanko” or the “Company”) (NYSE MKT: AKG) securities between October 24, 2014 and May 31, 2017, inclusive (the “Class Period”). Asanko investors have until July 31, 2017 to file a lead plaintiff motion.
Investors that suffered losses on their Asanko investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to firstname.lastname@example.org.
On May 31, 2017, Muddy Waters issued a report on Asanko asserting, among other things, that the west wall of the Company’s Nkran satellite pit is in danger of collapsing or reaching a state where the Nkran satellite pit will no longer be profitable to mine. The report also claimed that this issue may inhibit Asanko’s ability to fund other developments. On this news, shares of Asanko fell sharply, over 31% to close at just $1.29 per share on May 31, 2017.
According to the Complaint filed in this class action, throughout the Class Period, Asanko made false and/or misleading statements and/or failed to disclose that: Asanko Gold’s Mineral Resource Estimates are flawed; that some of the Company’s resources models exhibit signs that they have been “smeared,” which would cause estimates of their ore contents to be inflated; and that as a result of the above, Asanko’s public statements were materially false and misleading at all relevant times.
If you purchased Asanko during the Class Period you may move the Court no later than July 31, 2017 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit the website at www.howardsmithlaw.com.
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