The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased Pretium Resources Inc. (NYSE: PVG) securities between July 21, 2016 and September 6, 2018.
According to the Pretium lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) the Brucejack Project is not a high-grade, high-output mine; and (2) as a result of the foregoing, defendants’ statements about Pretium’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages. On January 23, 2018, Pretium disclosed lower gold production than previously disclosed. Then, on September 6, 2018, Viceroy Research reported that the company'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" and alleged that "management is scrambling to find consistent, high-grade ore to maintain the charade that its debt and equity are viable."
If you suffered a loss in Pretium you have until November 6, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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