NEW YORK, Nov. 23, 2013 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Pretium Resources, Inc. ("Pretium" or the "Company") (PVG) of the December 24, 2013 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against Pretium and certain executives.
Several complaints have been filed on behalf of all persons who purchased Pretium securities between January 19, 2011 and October 21, 2013, inclusive (the "Class Period") in the Southern District of New York.
The complaints allege that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.
Specifically, the actions allege that throughout the Class Period Pretium, a company focused on the acquisition, exploration, and development of precious metal resource properties, and its executives made a series of false and misleading statements concerning whether the resource and reserves estimates provided by one of the Company's advisors, Snowden Mining Industry Consultants ("Snowden"), were made in accordance with applicable mining standards and whether the methodology and evidence used by Snowden to estimate gold resources and reserves were reliable.
On October 8, 2013, Pretium announced that its contractor, Strathcona Mineral Services Ltd. ("Strathcona"), hired to evaluate an ore sample at the Brucejack Project had resigned. On this news, the Company's stock declined $2.07 per share, or over 30%, to close at $4.70 per share on October 9, 2013 on unusually heavy volume.
Then, on October 22, 2013, Pretium revealed that Strathcona resigned after informing Pretium, among other things, that there were no valid gold resources in Brucejack's Valley. Following this news, the Company's stock declined $1.27 per share, or over 27%, to close at $3.36 per share on October 22, 2013 on unusually heavy volume.
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If you invested in Pretium stock or options between January 19, 2011 and October 21, 2013 and would like to discuss your legal rights, visit www.faruqilaw.com/PVG. You can also contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org or email@example.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Pretium's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw.
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FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
Francis McConville, Esq.
Telephone: (877) 247-4292 or (212) 983-9330
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