LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces that a class action lawsuit has been filed on behalf of investors who purchased Tahoe Resources Inc. (“Tahoe” or the “Company”) (NYSE: TAHO) securities between March 12, 2015 through July 5, 2017, inclusive (the “Class Period”). Tahoe investors have until September 5, 2017 to file a lead plaintiff motion. To obtain information or participate in the class action, please visit the Mattel page on our website at www.glancylaw.com/case/tahoe-resources-inc.
Investors suffering losses on their Tahoe investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to shareholders@glancylaw.com.
The complaint filed in this class action alleges that, throughout the Class Period, the Company made false and/or misleading statements and/or failed to disclose that: (1) consultation obligations relating to the permitting of the Escobal mining license were not met; (2) as a result, the Escobal mining license is subject to suspension; and (3) consequently, Tahoe's public statements were materially false and misleading at all relevant times.
On July 6, 2017, the Company disclosed that the Supreme Court of Guatemala issued a provisional decision suspending the Escobal mining license of Minera San Rafael, a subsidiary of Tahoe, in connection with an action brought by CALAS against Guatemala’s Ministry of Energy and Mines (“MEM”). CALAS alleges that the MEM violated the Xinca Indigenous people’s right of consultation in advance of granting the Escobal mining license.
On this news, the Company’s share price fell $2.73 per share or 33%, to close at $5.54 on July 6, 2017, thereby injuring investors.
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If you purchased Tahoe securities during the Class Period you may move the Court no later than September 5, 2017 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. 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 Lesley Portnoy, Esquire, 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 shareholders@glancylaw.com, or visit our website at http://glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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