Pretium Resources, Inc. (PVG) Misled Investors Regarding its Mining Output
According to the recently filed class action complaint, Pretium Resources, Inc.(PVG) made materially false and misleading statements in press releases and filings with the Securities and Exchange Commission regarding the production and quality of the minerals mined at its Brucejack Mine. On January 23, 2018, Pretium disclosed lower gold production than previously disclosed and delayed achievement of steady state gold production and operation of the grade control program. Then, on September 6, 2018, Viceroy Research reported that the company’s “reported grades and reserves are significantly inflated, a much greater amount of waste is being dumped into local lakes, and more explosives are being utilized” and alleged that “management is scrambling to find consistent, high-grade ore to maintain the charade that its debt and equity are viable.” The most recent disclosure caused Pretium’s stock to decline approximately 10% per share.
Pretium Resources, Inc. (PVG) Shareholders Have Legal Options
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