SOURCE: Levi & Korsinsky, LLP

Levi & Korsinsky, LLP

November 11, 2011 10:59 ET

The Law Firm of Levi & Korsinsky Notifies Investors With Losses on Their Investment in Agnico-Eagle Mines, Ltd. of Class Action Lawsuit and the Deadline of January 6, 2012 to Seek a Lead Plaintiff Position

NEW YORK, NY--(Marketwire - Nov 11, 2011) - Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of Agnico-Eagle Mines, Ltd. ("Agnico-Eagle" or the "Company") (NYSE: AEM) securities between April 29, 2010 and October 19, 2011 (the "Class Period").

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The Complaint alleges that during the Class Period, certain of the Company's current and former directors and officers failed to disclose material adverse facts regarding the Company's overall operational and financial condition and well-being. On October 19, 2011, the Company issued a press release announcing the suspension of mining operation and gold production at its Goldex mine in Val d'Or, Quebec. According to the press release, the cessation of underground mining was the result of a recommendation from a second rock mechanics consulting firm, which found that a weak volcanic rock unit in the hanging wall of the Goldex deposit had failed. As a result, Agnico-Eagle revealed it would take a $260 million write off of its investment. Upon this news, shares of Agnico-Eagle fell more than 18 percent.

If you suffered a loss in Agnico-Eagle stock you have until January 6, 2012 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 or by telephone at (877) 363-5972, or visit

Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information

    Levi & Korsinsky, LLP
    Joseph Levi, Esq.
    Eduard Korsinsky, Esq.
    30 Broad Street - 15th Floor
    New York, NY 10004
    Tel: (212) 363-7500
    Toll Free: (877) 363-5972
    Fax: (212) 363-7171