NEW YORK, Sept. 14, 2018 /CNW/ -- Pomerantz LLP is investigating claims on behalf of investors of Pretium Resources Inc. ("Pretium" or the "Company") (NYSE: PVG). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Pretium and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On January 23, 2018, Pretium disclosed that gold production at its Brucejack Mine was lower than previously projected, and that achievement of steady-state gold production and operation of the mine's grade control program were delayed. On this news, Pretium's stock price fell $2.86 per share, or more than 26%, to close at $7.93 per share on January 23, 2018.
Then, on September 6, 2018, Viceroy Researched published a report, entitled "Pretium Resources – digging up dirt", which alleged, among other issues, that the Brucejack Mine'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 alleged that Pretium's "management is scrambling to find consistent, high-grade ore to maintain the charade that its debt and equity are viable." On this news, Pretium's stock price fell $0.77 per share, or approximately 10%, to close at $6.94 per share on September 6, 2018.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
SOURCE Pomerantz LLP