Nevsun Resources : Law Offices of Howard G. Smith Announces Lead Plaintiff Deadline in the Class Action Lawsuit Against Nevsun Resources Ltd.
04/06/2012| 09:35pm US/Eastern
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Law Offices of Howard G. Smith announces that all purchasers of the
common stock of Nevsun Resources Ltd. ("Nevsun" or the "Company")
(AMEX:NSU) between March 31, 2011 and February 6, 2012, inclusive (the
"Class Period"), have until May 14, 2012, to move the Court to serve as
Lead Plaintiff in the securities fraud class action lawsuit filed in the
United States District Court for the Southern District of New York.
Nevsun mines and explores for gold and base metals such as copper and
zinc. The Complaint alleges that defendants misrepresented or failed to
disclose that: (a) Nevsun's mining activities at the Bisha mine in
Eritrea, Africa, produced material amounts of waste rock, rather than
gold ore; (b) defendants knew or recklessly disregarded that gold and
gold ore from Bisha were materially less than estimated, based on data
routinely collected from the mine; (c) Nevsun was progressing through
the ore body at Bisha more quickly than planned, to maintain production
at a rate that would not reveal to investors that the amount of gold was
materially less than the Company's estimate; (d) Nevsun was aware its
resource model was materially defective because actual amounts of gold
mined at Bisha did not reconcile with the Company's previously
disseminated estimate; and (e), Nevsun materially overstated its gold
reserves at the Bisha mine.
No class has yet been certified in the above action. Until a class is
certified, you are not represented by counsel unless you retain one. If
you purchased Nevsun common stock between March 31, 2011 and February 6,
2012, you have certain rights, and have until May 14, 2012, to move for
lead plaintiff status. To be a member of the class you need not take any
action at this time, or may retain counsel of your choice. If you wish
to discuss this action or have questions concerning this Notice or your
rights or interests with respect to these matters, please contact Howard
G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike,
Suite 112, Bensalem, Pennsylvania 19020 by telephone at 215-638-4847,
Toll Free at 888-638-4847, or by email to howardsmith@howardsmithlaw.com,
or visit our website at http://www.howardsmithlaw.com.
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
© Business Wire 2012
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