The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the USDC for the Central District of California on behalf of investors who purchased Primero Mining Corp. (NYSE: PPP) securities between October 5, 2012 and February 3, 2016.
The complaint alleges that throughout the Class Period Defendants issued false and misleading statements to investors and/or failed to disclose material facts about tax compliance at Primero’s Mexican subsidiary, Primero Empresa Minera, S.A. de C.V.
On February 3, 2016, Primero disclosed that its Mexican subsidiary received a legal claim from the Mexican tax authorities, Servicio de Administración Tributaria (“SAT”), seeking to nullify the Advance Pricing Agreement issued by SAT in 2012. On this news, shares of Primero Mining fell $0.74 per share or over 28% to close at $1.89 per share on February 4, 2016.
If you suffered a loss in Primero Mining you have until April 15, 2016 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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