Connect with us
Our website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

News

Glancy Prongay & Murray LLP Announces the Filing of a Securities Class Action on Behalf of Hecla Mining Company Investors

gbafNews28

Glancy Prongay & Murray LLP (GPM), a national investors rights law firm, announces that a class action lawsuit has been filed on behalf of investors that acquired Hecla Mining Company (Hecla or the Company) (NYSE: HL) securities between March 19, 2018 and May 8, 2019, inclusive (the Class Period). Hecla investors have until July 23, 2019 to file a lead plaintiff motion.

If you are a shareholder who suffered a loss, click here to participate.

If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, at 310-201-9150, Toll-Free at 888-773-9224, or by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com.

On May 9, 2019, the Company announced its first quarter 2019 financial and operating results as well as a comprehensive review of its Nevada operations. The Company revealed that the Nevada operations had experienced a negative cash flow and operating metrics, which could lead to a writedown of the recently-acquired assets. Also, the Company reported a $25 million net loss for first quarter of 2019 as a result of its Nevada operations.

On this news, the Companys share price fell $0.48 per share, or over 23%, over two trading days to close at $1.56 on May 10, 2019, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Companys business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) Heclas Nevada operations were hemorrhaging cash due to serious problems which Hecla had identified prior to the start of the Class Period; (2) due to these serious problems, the defendants had no reasonable basis for their representations that the Nevada operations would be in a position to have positive or self-funding cash flow; and (3) as a result, the Companys public statements were materially false and misleading at all relevant times.

Follow us for updates on Twitter: twitter.com/GPM_LLP.

If you purchased shares of Hecla during the Class Period you may move the Court no later than July 23, 2019 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Glancy Prongay & Murray LLP, Los Angeles
Lesley Portnoy,
310-201-9150 or 888-773-9224
www.glancylaw.com
shareholders@glancylaw.com

Advertisement
Editorial & Advertiser disclosure

Call for Entries

Global Banking and Finance Review Awards Nominations 2022
2022 Awards now open. Click Here to Nominate

Newsletters with Secrets & Analysis. Subscribe Now

Recommended

Global Banking & Finance Review® is a leading financial portal and Print Magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management. Copyright © 2010-2021 GBAF Publications Ltd - All Rights Reserved.