SOURCE: Gilman Law LLP

November 11, 2011 09:57 ET

Gilman Law LLP Announces Class Action Lawsuit Against Agnico-Eagle Mines, Ltd.

BOSTON, MA--(Marketwire - Nov 11, 2011) - Gilman Law LLP, a leading national securities law firm, is actively investigating shareholder allegations that Agnico-Eagle Mines, Ltd. ("Agnico-Eagle") and certain of its officers and directors violated the Securities Exchange Act of 1934, by issuing false and misleading information concerning the Company's overall operational and financial condition and well-being resulting from significant problems in the Company's mining operations and gold production at its Goldex mine in Val d'Or Quebec. Founded in 1953, Agnico-Eagle, a Canadian based international gold producer, engages in the exploration, development and production of mineral properties in Canada, Finland and Mexico.

If you purchased or otherwise acquired shares of Agnico-Eagle Mines, Ltd. (NYSE: AEM) between April 29, 2010 and October 19, 2011 ("Class Period"), you may contact Gilman Law LLP by January 6, 2012 to discuss your rights, including as to recovery of your losses or to obtain additional information.

A shareholders class action lawsuit was commenced in the United States District Court for the Southern District of New York. The complaint alleges that during the Class Period, Agnico-Eagle failed to disclose that Goldex Mine was experiencing significant structural problems that would eventually require the closing of the mine in October 2011. The Complaint further alleges that the Company failed to disclose the truth regarding Agnico-Eagle's financial condition and engaged in fraudulent and deceptive accounting practices. As a result, the Company lacked a reasonable basis for their positive statements about their business, operations, and prospects.

Agnico-Eagle's Securities Traded At Artificially Inflated Prices During the Class Period

On October 19, 2011, Agnico-Eagle issued a press release announcing that, effective immediately, it was suspending its mining operations and gold production at its Goldex mine. In response to this news, Agnico-Eagle's shares fell 18.5%, to close at $46.51 per share on October 19, 2011, on a very heavy trading volume.

Gilman Law has extensive experience representing both individual and institutional investors in securities class action suits and can help you recover any losses that you have incurred as a result of Agnico-Eagle's fraudulent practices.

For a free evaluation of your case or to obtain additional information, please visit, or CALL TOLL FREE (888) 252-0048.

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