NEW ORLEANS, April 3, 2014 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until June 2, 2014 to file lead plaintiff applications in a securities class action lawsuit against Allied Nevada Gold Corp. (NYSE:ANV), if they purchased the Company's securities during the period between January 18, 2013 and August 5, 2013, inclusive (the "Class Period"). This action is pending in the United States District Court for the District of Nevada.
What You May Do
If you purchased shares of Allied Nevada and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850, or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com) or KSF Partner Melinda Nicholson (melinda.nicholson@ksfcounsel.com). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by June 2, 2014.
About the Lawsuit
Allied Nevada and certain of its executives are charged with issuing a series of materially false and misleading statements during the Class Period, violating federal securities laws.
These false statements and omissions included, in part, that: (i) the Company's Lewis leach pad was beset with operating defects and production deficiencies that were having a materially adverse effect on production costs and operating cash flows; (ii) the Company was not generating the cash flow necessary to construct the Hycroft Mine mill; and (iv) the costs to remediate the Lewis leach pad were reasonably likely to have a material adverse effect on the Company's future production, production costs and cash flows.
When these facts were revealed, Allied Nevada's stock plummeted by 40%.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.