Glancy
Prongay & Murray LLP (“GPM”) reminds investors of the upcoming July
23, 2019 deadline to file a lead plaintiff motion in the class
action filed on behalf of Hecla Mining Company (“Hecla” or the
“Company”) (NYSE: HL)
investors who purchased securities between March 19, 2018 and
May 8, 2019, inclusive (the “Class Period”).
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 Company’s 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 Company’s business, operations, and prospects. Specifically,
Defendants failed to disclose to investors: (1) Hecla’s 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
Company’s public statements were materially false and misleading at all
relevant times.
Follow us for updates on Twitter: twitter.com/GPM_LLP.
If you purchased or otherwise acquired Hecla securities during the Class
Period you may move the Court no later than July 23, 2019 to
request appointment as lead plaintiff in this putative class action
lawsuit. To be a member of the class action 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 action. If you wish to learn
more about this class action, or if you have any questions concerning
this announcement or your rights or interests with respect to the
pending class action lawsuit, 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190607005492/en/
Copyright Business Wire 2019