NEW YORK--(BUSINESS WIRE)--Scott+Scott, Attorneys at Law, LLP (“Scott+Scott”), a national shareholder and consumer rights litigation firm, announces that a securities class action lawsuit has been filed against Asanko Gold Inc. (“Asanko” or the “Company”) (NYSE: AKG) on behalf of purchasers of Asanko common stock during the period of October 24, 2014 through May 31, 2017. If you are an Asanko shareholder, you are encouraged to contact Scott+Scott for more information.
Asanko is a Canadian gold development company with operations in the Republic of Ghana, West Africa. The lawsuit alleges that Asanko misled investors with its mineral resource estimates and models.
On May 31, 2017, hedge fund Muddy Waters released a 43-page report detailing its reasons for taking a large short position in Asanko. The report, based on information from sources in Ghana with extensive knowledge of Asanko’s operations, consultation with an expert, and drone and satellite imagery, made the case that Asanko is “highly likely to end up a zero” and raised a number of questions about Asanko’s mineral estimates and models, including whether the models had been “smeared.”
On this news, the price of Asanko common stock dropped from $1.87 to $1.29 on May 31, 2017, a one-day decline of 31%.
What You Can Do
If you purchased or acquired Asanko shares on the NYSE between October 24, 2014 and May 31, 2017 and you wish to discuss this lawsuit, or have questions about this notice or your legal rights, please contact attorney Joe Pettigrew at (844) 818-6982 or at firstname.lastname@example.org. Lead plaintiff motions are due by July 31, 2017.
About Scott+Scott, Attorneys at Law, LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.