Shareholder Class Action Filed Against NovaGoldHere is the gist of it:
-- Complaint charges NovaGold and certain of its officers and directors with violations of the Securities Act
-- Defendants falsely portrayed NovaGold as a rapidly growing company onthe verge of moving from a mid-tier exploration and development companyto a mid-tier gold and copper production company by issuing a series ofmaterially false and misleading statements regarding the costs,progress and viability of its multi-billion dollar Galore Creek project
-- Company regularly and systematically assured the investing public thatthe construction of the Galore Creek project was on schedule and onbudget
-- Plaintiff seeks to recover damages on behalf of class members
Any thoughts on this? Is this major or minor?