STEVENSON, Md., May 16, 2016 (GLOBE NEWSWIRE) -- The securities litigation law firm of Brower Piven, A
Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the
District of Delaware on behalf of purchasers of Horsehead Holding Corp. (Nasdaq:ZINC) (“Horsehead” or the “Company”) securities
during the period between May 21, 2014 and February 2, 2016, inclusive (the “Class Period”). Investors with losses in excess
of $100,000 who wish to become proactively involved in the litigation have until June 21, 2016 to seek appointment as lead
plaintiff.
If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff and
be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including
whether to accept a settlement for the Class in the action. The lead plaintiff will be selected from among applicants
claiming the largest loss from investment in the Company’s securities during the Class Period. Members of the Class will be
represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above
action.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the
defendants’ failure to disclose during the Class Period that challenging construction defects and operational problems resulting
from fundamental engineering and operational defects at a facility located in Mooresboro, North Carolina (the “Mooresboro
Facility”) had left the facility unable to operate as planned such that production disruptions prevented production capacity to
reach 50%, and tens of millions of dollars in costs related to these problems were anticipated, and that the Company did not have
sufficient liquidity to sustain it through the full ramp-up of the Mooresboro Facility.
According to the complaint, following a December 10, 2015 ratings downgrade of the Company's corporate debt by
Moody’s, the January 2016 failure by the Company to make an interest payment to certain holders of the Company’s convertible senior
notes and default on multiple credit agreements, the January 22, 2016 Horsehead announcement that it was idling the Mooresboro
Facility and laying off most employees at the site, and the February 2, 2016 announcement that the Company had filed for
bankruptcy, the value of Horsehead shares declined significantly.
If you have suffered a loss from investment in Horsehead securities purchased on or after May 21, 2014, and held
through the revelation of negative information during and/or at the end of the Class Period and would like to learn more about this
lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please visit our website at
http://www.browerpiven.com/currentsecuritiescases.html. You may also request more
information by contacting Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616. Brower Piven also encourages
anyone with information regarding the Company’s conduct during the period in question to contact the firm, including
whistleblowers, former employees, shareholders and others.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and
have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower
Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at
this time to be a member of the class.
CONTACT: Charles J. Piven Brower Piven, A Professional Corporation 1925 Old Valley Road Stevenson, Maryland 21153 Telephone: 410-415-6616 hoffman@browerpiven.com