LOS ANGELES–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24HL&src=ctag” target=”_blank”gt;$HLlt;/agt; lt;a href=”https://twitter.com/hashtag/CLASSACTION?src=hash” target=”_blank”gt;#CLASSACTIONlt;/agt;–Glancy
Prongay & Murray LLP (“GPM”), a national investors rights law
firm, announces that a class action lawsuit has been filed on behalf of
investors that acquired Hecla Mining Company (“Hecla” or the “Company”)
(NYSE: HL)
securities between March 19, 2018 and May 8, 2019, inclusive (the
“Class Period”). Hecla investors have until July 23, 2019 to file
a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here
to participate.
If you wish to learn more about this action, or if you have any
questions concerning this announcement or your rights or interests with
respect to these matters, please contact Lesley Portnoy, Esquire, at
310-201-9150, Toll-Free at 888-773-9224, or by email to [email protected],
or visit our website at www.glancylaw.com.
On May 9, 2019, the Company announced its first quarter 2019 financial
and operating results as well as a “comprehensive review” of its Nevada
operations. The Company revealed that the Nevada operations had
experienced a negative cash flow and operating metrics, which could lead
to a writedown of the recently-acquired assets. Also, the Company
reported a $25 million net loss for first quarter of 2019 as a result of
its Nevada operations.
On this news, the Company’s share price fell $0.48 per share, or over
23%, over two trading days to close at $1.56 on May 10, 2019, thereby
injuring investors.
The complaint filed in this class action alleges that throughout the
Class Period, Defendants made materially false and/or misleading
statements, as well as failed to disclose material adverse facts about
the Company’s business, operations, and prospects. Specifically,
Defendants failed to disclose to investors: (1) Hecla’s Nevada
operations were hemorrhaging cash due to serious problems which Hecla
had identified prior to the start of the Class Period; (2) due to these
serious problems, the defendants had no reasonable basis for their
representations that the Nevada operations would be in a position to
have positive or self-funding cash flow; and (3) as a result, the
Company’s public statements were materially false and misleading at all
relevant times.
Follow us for updates on Twitter: twitter.com/GPM_LLP.
If you purchased shares of Hecla during the Class Period you may move
the Court no later than July 23, 2019 to ask the Court
to appoint you as lead plaintiff. To be a member of the Class you need
not take any action at this time; you may retain counsel of your choice
or take no action and remain an absent member of the Class. If you wish
to learn more about this action, or if you have any questions concerning
this announcement or your rights or interests with respect to these
matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century
Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150,
Toll-Free at 888-773-9224, by email to [email protected],
or visit our website at www.glancylaw.com.
If you inquire by email please include your mailing address, telephone
number and number of shares purchased.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Contacts
Glancy Prongay & Murray LLP, Los Angeles
Lesley Portnoy,
310-201-9150 or 888-773-9224
www.glancylaw.com
[email protected]
