| [February 14, 2012] |
 |
Pomerantz Law Firm Has Filed a Class Action Against Hecla Mining Company
NEW YORK --(Business Wire)--
Pomerantz Haudek Grossman & Gross LLP has filed a federal securities
class action (12-cv-067) in United States District Court, District of
Idaho, on behalf of all persons who purchased Hecla Mining Company
("Hecla" or the "Company") (NYSE:HL) securities between October 26, 2010
and January 11, 2012, inclusive (the "Class Period"). This class action
is brought under the Securities Exchange Act of 1934 and Rule 10b-5
against the Company and certain of its top officials.
If you are a shareholder who purchased Hecla securities during the Class
Period, you have until April 2, 2012 to ask the Court to appoint you as
Lead Plaintiff for the class. A copy of the complaint can be obtained at www.pomerantzlaw.com.
To discuss this action, contact Rachelle R. Boyle at rrboyle@pomlaw.com
or 888.476.6529 (or 888.4-POMLAW), toll free, x350. Those whoinquire by
e-mail are encouraged to include their mailing address and telephone
number.
The Complaint alleges that throughout the Class Period, the Company made
false and/or misleading statements and/or failed to disclose that: (1)
the Company was not in compliance with safety regulations at its Lucky
Friday mine; (2) the Company had allowed sand and concrete material to
improperly build up in the Silver Shaft over a period of years, creating
a safety hazard; (3) following the December closure, the Company would
be unable to reestablish mining operations at the Lucky Friday mine by
February 2012; (4) the Company improperly accounted for its contingent
liabilities in violation of Generally Accepted Accounting Principles;
and (5) as a result of the foregoing, the Company's statements were
materially false and misleading at all relevant times concerning the
Company's operations and its expected silver production.
On January 11, 2012, Hecla disclosed that the Mine Safety and Health
Administration had ordered the Silver Shaft at the Lucky Friday mine
closed due to built-up of sand and concrete material over a number of
years in the shaft. On these revelations, Hecla shares declined $1.23
per share or 21%, to close at $4.61 per share on January 11, 2012.
The Pomerantz Firm, with offices in New York, Chicago and Washington,
D.C., is acknowledged as one of the premier firms in the areas of
corporate, securities, and antitrust class litigation. Founded by the
late Abraham L. Pomerantz, known as the dean of the class action bar,
the Pomerantz Firm pioneered the field of securities class actions.
Today, more than 70 years later, the Pomerantz Firm continues in the
tradition he established, fighting for the rights of the victims of
securities fraud, breaches of fiduciary duty, and corporate misconduct.
The Firm has recovered numerous multimillion-dollar damages awards on
behalf of class members. See www.pomerantzlaw.com.
[ Back To TMCnet.com's Homepage ]
|
TMCnet LOGIN
Webinars
