NEW YORK, Dec. 31, 2012 (GLOBE NEWSWIRE) -- The Rosen Law Firm today announced that it has filed a securities fraud class action on behalf of investors purchasing shares of Silvercorp Metals, Inc. (NYSE:SVM) during the period from June 24, 2010 through September 13, 2011. The lawsuit alleges that Silvercorp and certain of its management violated the federal securities laws by issuing false and misleading financial information. The case is filed in the U.S. District Court for the Southern District of New York.
To join the Silvercorp class action, visit the firm's website at http://www.rosenlegal.com, or call Jonathan Horne or Laurence Rosen toll-free, at 866-767-3653; you may also email jhorne@rosenlegal.com or lrosen@rosenlegal.com for information on the class action.
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. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.
The complaint charges that Silvercorp overstated the level of silver production at its mines, as well as the quality and quantity of its ore reserves.
On September 13, 2011, analyst firm Alfred Little issued a report claiming that Silvercorp had inflated the size of its revenue, earnings, assets, and operations in its reports filed with the SEC. This adverse disclosure caused Silvercorp's share price to drop, damaging investors.
If you wish to serve as lead plaintiff, you must make a request to the Court no later than March 1, 2013.
If you wish to join the Class Action, or discuss your rights and interests in Silvercorp stock, please visit the firm's website at http://www.rosenlegal.com to join the class action. You may also contact Laurence Rosen or Jonathan Horne of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at lrosen@rosenlegal.com or jhorne@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.