Class Action Filed Against Nevsun Resources Ltd. by Sutts, Strosberg LLP and Andrew Morganti

TORONTO AND WINDSOR, ON, May 18, 2012 /CNW/ - A class action has been commenced in the Ontario Superior Court of Justice on behalf of all investors who acquired shares of Nevsun Resources Ltd. ("Nevsun") (TSX: "NSU") during the period March 31, 2011 to and including February 6, 2012 (the "Class Period").  The plaintiff alleges that the defendants engaged in violations of Ontario's Securities Act and the common law.

The plaintiff has retained Andrew Morganti and Sutts, Strosberg LLP to prosecute the class action.

The plaintiff alleges that the defendants knew or ought to have known that the proven and probable reserves at Nevsun's Bisha mine were overstated during the Class Period.

On February 7, 2012, Nevsun disclosed that it overstated the gold reserves at its Bisha mine.  After the disclosure, Nevsun's share price declined by more than 30 percent. 

Jay Strosberg, a partner at Sutts, Strosberg LLP said, "Through this class action, we hope to determine precisely what the defendants knew about the quality and quantity of mineralized ore and, ultimately, gold reserves at the Bisha mine during the Class Period, and when they knew it."

Sutts, Strosberg LLP pioneered securities class actions in Ontario.  As a result of resolving class actions such as YBM Magnex, Southwestern Resources, Atlas Cold Storage, CV Technologies and NovaGold Resources, Sutts, Strosberg LLP has recovered more than $150 million for its clients in securities class action alone.

Andrew Morganti has represented shareholders in securities litigation in both Canada and the U.S. and has litigated securities fraud class actions since 1999.  He previously worked with one of the largest firms in the U.S. in New York that represented shareholders and is currently serving as one of the vice chairs of the American Bar Association's Class Action & Derivative Suit Section.

For more information about the Nevsun Class Action, please visit www.nevsunclassaction.com.

Jay Strosberg
Sutts, Strosberg LLP
519.561.6296 or [email protected]

Andrew Morganti
Morganti Legal
416.800.2171 or [email protected]