Case Page

 

Case Status:    DISMISSED    
On or around 06/14/2017 (Date of order of final judgment)

Filing Date: October 25, 2013

According to the law firm press release, the lawsuit asserts violations of the federal securities laws against Pretium, certain of its officers and directors, and Silver Standard Resources, Inc. (NASDAQ: SSRI) in connection with Pretium’s fraudulent statements about the probable mineral reserves at the Valley of Kings (“VOK”) zone. On October 22, 2013, the Pretium announced Strathcona Mineral Services Ltd., one of the companies dealing with Pretium bulk sample update, withdrew from the Program before any results from the processing of the bulk sample were available. In withdrawing from the Program, Strathcona 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." They also advised that "…statements included in all recent press releases [by Pretium] about probable mineral reserves and future gold production [from the Valley of the Kings zone] over a 22-year mine life are erroneous and misleading." As a result of this adverse news, Pretium’s share price dropped, causing investors damages.

On January 22, 2014, the Court issued an Order appointing lead plaintiff and approving lead counsel.

On June 13, 2017, the Court issued an Order granting Defendants' Motion to Dismiss. This case was closed.

COMPANY INFORMATION:

Sector: Basic Materials
Industry: Metal Mining
Headquarters: Canada

SECURITIES INFORMATION:

Ticker Symbol: PVG
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. New York
DOCKET #: 13-CV-07552
JUDGE: Hon. Paul G. Gardephe
DATE FILED: 10/25/2013
CLASS PERIOD START: 01/09/2012
CLASS PERIOD END: 10/21/2013
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. The Rosen Law Firm P.A. (New York)
    275 Madison Avenue, 34th Floor, The Rosen Law Firm P.A. (New York), NY 10016
    (212) 686-1060 (212) 202-3827 ·
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 13-CV-07552
JUDGE: Hon. Paul G. Gardephe
DATE FILED: 07/23/2014
CLASS PERIOD START: 06/11/2013
CLASS PERIOD END: 10/22/2013
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
  2. The Rosen Law Firm P.A. (New York)
    275 Madison Avenue, 34th Floor, The Rosen Law Firm P.A. (New York), NY 10016
    (212) 686-1060 (212) 202-3827 ·
No Document Title Filing Date