NEW YORK, Oct. 30, 2013 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the USDC for the Southern District of New York on behalf of investors who purchased Pretium Resources Inc. ("Pretium" or the "Company") (NYSE:PVG) common stock between January 19, 2011 and October 21, 2013.
For more information, click here: http://zlk.9nl.com/pretium-resources-pvg/.
The complaint alleges that during the Class Period defendants failed to disclose that: (a) Pretium had not acquired credible evidence demonstrating the quantity or quality of gold reserve estimates it claimed; (b) independent analyst Snowden Mining Industry Consultants ("Snowden") was not using a reliable methodology for evaluation of gold reserves; (c) Snowden and consultant Strathcona Mineral Services Ltd. ("Strathcona") did not agree on the methodology to be used; (d) contrary to Pretium's statements, its 2012 Mineral Resource estimates prepared by Snowden did not accurately classify the mineral resources present as Measured, Indicated and Inferred Resources; and (e) as a result of the foregoing, Pretium's reported gold estimates were not as reliable as it had led the market to believe.
On October 9, 2013, it was disclosed that Strathcona had resigned from the project. Then on October 22, 2013, Pretium issued a press release acknowledging that Strathcona had resigned, in part, due to a lack of "valid gold resources" in the zone.
If you suffered a loss in Pretium you have until December 24, 2013 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/pretium-resources-pvg/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut, and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.comSource:Levi & Korsinsky, LLP