RADNOR, Pa., Aug. 18, 2015 /CNW/ -- The law firm of Kessler Topaz Meltzer & Check, LLP announces that a shareholder class action has been filed against Silver Wheaton Corp. (NYSE: SLW) ("Silver Wheaton" or the "Company") on behalf of purchasers of the Company's securities between March 30, 2011 and July 6, 2015, inclusive (the "Class Period").
For additional information about this lawsuit, or to request information about this action online, please visit http://www.ktmc.com/new-cases/silver-wheaton.
Silver Wheaton shareholders who wish to discuss this action and their legal options are encouraged to contact Kessler Topaz Meltzer & Check, LLP (Darren J. Check, Esq., D. Seamus Kaskela, Esq. or Adrienne O. Bell, Esq.) at (888) 299-7706 or at [email protected].
Silver Wheaton purchases and sells the by-product of silver and gold from operating mines.
The Complaint alleges that Silver Wheaton and certain of its senior executive officers issued a series of materially false and misleading statements to investors and/or failed to disclose that: (1) Silver Wheaton's financial statements contained errors concerning income tax owed from the income generated by its foreign subsidiaries; (2) Silver Wheaton lacked adequate internal controls over its financial reporting; and (3) as a result of the foregoing, Silver Wheaton's financial statements were materially false and misleading at all relevant times.
On July 6, 2015, Silver Wheaton announced that it had received a letter from the Canada Revenue Agency which indicated that Silver Wheaton's tax in Canada should be increased for the 2005 to 2010 period by approximately CDN $715 million (US $567 million). On this news, the Company's shares fell $2.08 per share, or 11.8%, to close on July 7, 2015 at $15.46 per share.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check (Darren J. Check, Esq., D. Seamus Kaskela, Esq. or Adrienne O. Bell, Esq.) at (888) 299 – 7706 or (610) 667 – 7706, or via e-mail at [email protected]. For additional information about the lawsuit, or to request information about the action, please visit http://www.ktmc.com/new-cases/silver-wheaton.
Members of the class may, no later than September 8, 2015, petition the Court for appointment as a lead plaintiff of the class. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. In order to be appointed as a lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class in the action. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country. Kessler Topaz Meltzer & Check is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). The complaint in this action was not filed by Kessler Topaz Meltzer & Check. For more information about Kessler Topaz Meltzer & Check, or for additional information about participating in this action, please visit www.ktmc.com.
Kessler Topaz Meltzer & Check, LLP
Darren J. Check, Esq.
D. Seamus Kaskela, Esq.
Adrienne O. Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087
(888) 299 - 7706
(610) 667 - 7706
SOURCE Kessler Topaz Meltzer & Check, LLP