NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against NovaGold Resources, Inc. (NYSE: NG) on behalf of NovaGold stockholders. Our investigation concerns whether NovaGold has violated the federal securities laws and/or engaged in other unlawful business practices.
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On May 28, 2020, J. Capital Research (“J. Capital”) published a report alleging that “NovaGold's management team has systematically misled investors” about the Company's Donlin gold-mining project, “a deposit so remote and technologically challenging that the mine will never be built.” J. Capital criticized NovaGold for using “custom metrics designed to deceive,” which included, among other representations, that “the deposit will require $6.7 billion in capital, [when] the feasibility study clearly shows this number is $8 billion.” J. Capital also contended that “[t]he proposed natural gas pipeline central to powering the project is dead on arrival,” quoting an engineer who worked on costing the pipeline as stating that he “doesn't know of any engineering company that has the experience to build such a complex pipeline.”
On this news, NovaGold’s stock price fell $0.94 per share, or 8.83%, to close at $9.71 per share on May 28, 2020.
If you purchased or otherwise acquired NovaGold shares and suffered a loss, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato or Marion Passmore by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.