SAN DIEGO & RENO, Nev.--(BUSINESS WIRE)--Shareholder rights law firm Robbins Arroyo LLP announces that purchasers of Tahoe Resources Inc. (NYSE: TAHO) have filed a class action complaint against the company's officers and directors for alleged violations of the Securities Exchange Act of 1934 between March 12, 2015 and July 5, 2017. Tahoe Resources, together with its subsidiaries, acquires, explores for, develops, and operates mineral properties in the Americas.
View this information on the law firm's Shareholder Rights Blog: www.robbinsarroyo.com/tahoe-resources-inc-june-2018
Tahoe Accused of Failing to Meet Obligations for Escobal Mining License
According to the complaint, Tahoe represented that it used commercially reasonable efforts to ensure all land-related agreements were entered into in accordance with applicable laws. Tahoe further asserted that there are no indigenous populations currently living in the immediate area of its Escobal mine site. On May 24, 2017, Tahoe disclosed that an anti-mining organization filed a legal claim for violating the Xinca indigenous people's right of consultation in advance of granting the Escobal mining license to Tahoe's Guatemalan subsidiary. Although Tahoe assured investors that the claim was without merit, on July 5, 2017, Tahoe revealed that the Supreme Court of Guatemala temporarily suspended the license to operate the Escobal mine. Since news of Tahoe's troubles surrounding the Escobal mine were made public, the company's shares fell over 46% to close at $5.01 per share on June 15, 2018.
Tahoe Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
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