|[April 27, 2012]
Glancy Binkow & Goldberg LLP Announces Lead Plaintiff Deadline In The Class Action Lawsuit Against Nevsun Resources Ltd.
LOS ANGELES --(Business Wire)--
Glancy Binkow & Goldberg LLP announces that all purchasers of the common
stock of Nevsun Resources Ltd. ("Nevsun" or the "Company") (AMEX:NSU)
between March 31, 2011 and February 6, 2012, inclusive (the "Class
Period"), have until May 14, 2012 to file a motion with the Court to be
appointed as Lead Plaintiff. The securities fraud class action lawsuit
was filed in the United States District Court for the Southern District
of New York. Nevsun engages in the acquisition, exploration, development
and production of mineral properties, including the Bisha Property, a
gold, copper, silver and zinc mine in Eritrea, Africa.
The Complaint alleges that defendants issued materially false and
misleading statements and/or failed to disclose that: (i) Nevsun's
mining activities at the Bisha mine produced a material amount of waste
rock, rather than gold ore; (ii) defendants knew or hd reason to know
that the amounts of gold and gold ore recovered from the Bisha mine were
materially less than the Company reserve estimate; (iii) the Company was
aware that its resource model was materially defective because the
actual amounts of gold mined at Bisha did not reconcile with the
Company's previously disseminated reserve estimate; and (iv), Nevsun
materially overstated its gold reserves at the Bisha mine.
Any person or group who suffered a loss as a result of purchasing Nevsun
common stock between March 31, 2011 and February 6, 2012, may ask the
Court to be appointed as Lead Plaintiff, but must file a motion no later
than May 14, 2012. To be a member of the class you need not take action
at this time; you may retain counsel of your choice or take no action
and remain an absent class member. If you wish to discuss this action or
have any questions concerning this Notice or your rights or interests
with respect to these matters, please contact Michael Goldberg, Esquire,
of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los
Angeles, California 90067, by telephone at (310) 201-9150, Toll Free at
(888) 773-9224, by e-mail to firstname.lastname@example.org,
or visit our website at http://www.glancylaw.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
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