LOS ANGELES--(BUSINESS WIRE)--National law firm Glancy Prongay & Murray LLP (“GPM”) announces that it has filed a class action lawsuit in the United States District Court for the Southern District of New York on behalf of persons and/or entities that acquired Pretium Resources, Inc. (“Pretium” or the “Company”) (NYSE: PVG) securities between July 21, 2016 and September 6, 2018, inclusive (the “Class Period”). Plaintiff pursues claims against the Defendants, under the Securities Exchange Act of 1934.
Pretium investors are hereby notified that they have 60 days from the date of this notice to move the Court to serve as lead plaintiff in this action.
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On September 6, 2018, Viceroy Research published a report alleging, among other things, that the Company’s “reported grades and reserves are significantly inflated, a much greater amount of waste is being dumped into local lakes, and more explosives are being utilized.” The report further stated that “management is scrambling to find consistent, high-grade ore to maintain the charade that its debt and equity are viable.” On this news, shares of Pretium price $0.77 per share, or nearly 10%, to close at $6.94 on September 6, 2018, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Brucejack Project is not a high-grade, high-output mine; and (2) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.
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If you purchased Pretium securities during the Class Period, you may move the Court no later than 60 days from the date of this notice 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 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 firstname.lastname@example.org, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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