SOURCE: Izard Nobel LLP

February 03, 2012 14:16 ET

Izard Nobel LLP Announces Class Action Lawsuit Against Hecla Mining Company

WEST HATRFORD, CT--(Marketwire - Feb 3, 2012) - The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the District of Idaho on behalf of purchasers of the common stock of Hecla Mining Company ("Hecla" or the "Company") (NYSE: HL) between October 26, 2010 and January 11, 2012, (the "Class Period").

The Complaint alleges that Hecla and certain of its officers and directors violated the federal securities laws. Specifically, defendants failed to disclose the following adverse facts: (i) Hecla was not in compliance with safety regulations at its Lucky Friday mine; (ii) Hecla had allowed sand and concrete material to improperly build up in the mine shaft over a period of years, creating a safety hazard; (iii) following a December closure order for the Lucky Friday Mine by the Mine Safety and Health Administration, the Company would be unable to reestablish mining operations at the mine by February 2012, as Hecla had previously represented; (iv) Hecla improperly accounted for its contingent liabilities in violation of Generally Accepted Accounting Principles; and (v) based on the foregoing, defendants lacked a reasonable basis for their positive statements about the Company's operations and its expected silver production.

If you are a member of the class, you may, no later than April 2, 2012, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.

While Izard Nobel LLP has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, and your rights, visit: www.izardnobel.com/hecla/, or contact Izard Nobel LLP toll-free: (800)797-5499, or by e-mail: firm@izardnobel.com. For more information about class action cases in general, please visit our website: www.izardnobel.com.

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