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.