SOURCE: Holzer Holzer & Fistel, LLC
ATLANTA, GA--(Marketwired - Oct 31, 2013) - Holzer Holzer & Fistel, LLC announces that it has filed a class action lawsuit on behalf of investors who purchased Pretium Resources, Inc. ("Pretium" or the "Company") (NYSE: PVG) common stock between January 19, 2011 and October 24, 2013. The complaint, which was filed in the United States District Court for the Southern District of New York, alleges that a series of statements made during that time regarding Pretium's business, operations and prospects were false and misleading. Specifically, the complaint alleges that Pretium misrepresented and failed to adequately disclose that: (a) the Company had not acquired credible evidence demonstrating the quantity or quality of gold reserve estimates it claimed during the Class Period; (b) one of the firms Pretium had hired to provide independent analysis of the quantity and quality of the gold reserves at its all-important Brucejack Project during the Class Period, Snowden Mining Industry Consultants ("Snowden"), was not using a reliable methodology to evaluate its gold reserve estimates; (c) Snowden and Strathcona Mineral Services Ltd. ("Strathcona") -- one of Canada's most highly-regarded teams of geologists, and one of the two firms the Company had hired to evaluate the quality of its gold reserves at Brucejack (along with Snowden) -- did not agree on the methodology to be used to evaluate Pretium's gold reserve estimates; (d) contrary to Pretium's statements during the Class Period, 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 gold estimates reported during the Class Period were not as reliable it had led the market to believe.
If you purchased Pretium common stock between January 19, 2011 and October 24, 2013 you have the legal right to petition the Court to be appointed a "lead plaintiff." A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Any such request must satisfy certain criteria and be made no later than December 24, 2013. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. If you are a Pretium investor and would like to discuss a potential lead plaintiff appointment, or your rights and interests with respect to the lawsuit, you may contact Michael I. Fistel, Jr., Esq., or Marshall P. Dees, Esq. via email at firstname.lastname@example.org, or email@example.com, or via toll-free telephone at (888) 508-6832.
Holzer Holzer & Fistel, LLC is an Atlanta, Georgia law firm that dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. More information about the firm is available through its website, www.holzerlaw.com and upon request from the firm. Holzer Holzer & Fistel, LLC has paid for the dissemination of this promotional communication, and Michael I. Fistel, Jr. is the attorney responsible for its content.