Top Trial Firm Cohen, Placitella & Roth, PC Investigating Pretium Resources, Inc., for Misrepresentation of its Mineral Reserves and Compliance with Sampling Regulations
By: CPR @ Apr 03, 2014
Cohen, Placitella & Roth, PC is investigating claims on behalf of investors who purchased Pretium Resources, Inc. (“Pretium Resources” or the “Company”) (NYSE: PVG) stock between January 9, 2012 and October 21, 2013, inclusive. The investigation concerns whether Pretium Resources and certain of its officers and/or directors disseminated material false and misleading information to investors in violation of Sections 10(b), and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, promulgated thereunder.
Pretium Resources is an exploration and development company that was formed for the acquisition, exploration and development of precious metal resource properties in the Americas.
On October 9, 2013, the Company disclosed that Strathcona, its Independent Qualified Person hired by the Company to evaluate the mineral reserves in the Valley of Kings Zone (VOK Zone) of the Brucejack Project (the Company’s only material minerals project), had abruptly resigned from the engagement. On this news, Pretium shares declined $2.07 per share or over 30 percent, to close at $4.70 per share on October 9, 2013.
Then, on October 22, 2013, the Company provided further information regarding Strathcona’s sudden resignation, reporting that it had resigned after a dispute with the Company over sampling methods, particularly after advising the Company that, “there are no valid gold mineral resources for the VOK Zone, and without mineral resources there can be no mineral reserves, and without mineral reserves there can be no basis for a Feasibility Study.” Strathcona further concluded that “statements included in all recent press releases [by Pretium] about probable mineral reserves and future gold production [VOK Zone] over a 22-year mine life are erroneous and misleading.” On this news, Pretium shares declined $1.27 per share or over 27%, to close at $3.36 per share on October 22, 2013.
If you wish to discuss what rights you may have related to a loss in your investment in Pretium Resources or you have any information on Pretium Resource’s representations about the mineral reserves in the Brucejack Project or, please contact Eduardo Texidor Jr. at [email protected] or, toll free, at 1-215-567-3500. For those investors inquiring via email, please include “Pretium Resources” in the subject line, and, in the body of the email, the number of shares purchased and your mailing address and telephone number.
Since 1973, Cohen, Placitella & Roth, PC has been recognized as one of the premier trial law firms in the country. The firm has extensive experience in prosecuting securities litigation involving violations of the federal securities laws, state law derivative actions and mergers and acquisitions cases, representing institutional investors such as public pension plans and union pension funds as well as individual shareholders suffering substantial investment losses due to corporate misconduct. LexisNexis Martindale-Hubbell® annually reports Cohen, Placitella & Roth’s peer rating-the highest AV® – “a testament to professional excellence.” Since the inauguration of its “Best Law Firms”‘ edition in 2010, U.S. News and World Report has annually listed Cohen, Placitella & Roth’s as one of the top-tier class action law firms in the country.
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