Pretium Resources Inc(NYSE:PVG) Shareholder Class Action Lawsuit

A lawsuit was filed on the 25th of October, 2013, by an investor who purchased shares of Pretium Resources Incorporated (PVG on the New York Stock Exchange). This lawsuit was filed with the United States District Court for the Southern District of NY, and it pertains to supposed violations of the Federal Securities laws by Pretium. It reports that they made intentionally false and misleading statements regarding their mineral resources, and regarding their compliance with feasibility studies. These supposedly false statements were made between January 2012 and October 2013.

If you have purchased shares of Pretium Resources Inc(NYSE:PVG) between January 9, 2012 and October 21, 2013, call 1-800-934-2921 right now to protect your rights.

Filing deadline:  12/24/2013

This is a lawsuit that has been filed on behalf of anyone who may have purchased shares in Pretium over a one and a half year period, from January 9th 2012 to October 21st 2013 with allegations of fraud and federal securities laws violations by the board and directors of Pretium Resources. The securities laws they are said to have violated are in Section 10(b) and 20(a) of the the 1934 Securities Exchange Act.

Pretium is alleged to have hugely inflated the value of the mineral reserves they possessed, especially gold in the VOK zone. They also failed to mention that the sampling methods they were using were not in compliance with international standards. Many statements they made to investors in their quarterly and annual reports were false, and the investor filing the lawsuit believes that he has the evidence to prove it.

Suspicious events began on the 9th of October, when Strathcona Mineral Services resigned from an engagement to evaluate the company's mineral reserves as part of the Brucejack Project. This company was asked to act as an independent qualified person to oversee 10,000 ton samples of minerals. However, they withdrew before any results of the study were made public. When they withdrew, they advised Pretium 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."

Despite those warnings, it looks as though Pretium continued to falsify reports and lie to their investors. Shares prices of Pretium have taken a nose dive since the allegations were made a week ago, and they are currently at close to $3 a share.

Own shares of Pretium Resources Inc(NYSE:PVG)? Contact us to protect your rights.

If you have purchased shares of Pretium Resources Inc(NYSE:PVG) between January 9, 2012 and October 21, 2013, call 1-800-934-2921 right now to protect your rights. Complete the form on this page or call attorney Bill Kyros at 1-800-934-2921 right now to protect your rights. 

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