NEW YORK, March 17, 2017 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of Northern Dynasty Minerals Ltd. securities (NYSE:NAK) from September 16, 2013 through February 13, 2017, both dates inclusive (the “Class Period”). The lawsuit seeks to recover damages for Northern Dynasty investors under the federal securities laws.
To join the Northern Dynasty class action, go to http://www.rosenlegal.com/cases-1056.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or kchan@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 ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, throughout the Class Period Defendants made false and/or misleading statements and/or failed to disclose that: (1) Northern Dynasty’s Pebble project is commercially unviable; (2) Northern Dynasty’s Pebble project had a negative present value; and (3) as a result, Defendants’ statements about Northern Dynasty’s business, operations and prospects were materially false and misleading and/or lacked a reasonable bases at all relevant times. On February 14, 2017, Kerrisdale Capital Management published a report asserting that Northern Dynasty’s Pebble Project is commercial unviable and Northern Dynasty has spent years trying to conceal from the public that its Pebble project had a negative present value. On this news, shares of Northern Dynasty fell $0.68 per share or over 21% to close at $2.50 per share on February 14, 2017, damaging investors.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than April 17, 2017. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-1056.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or kchan@rosenlegal.com.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm.
Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.