NEW YORK, Feb. 24, 2017 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class has been commenced in the United States District Court of the Central District of California on behalf of investors who purchased Northern Dynasty Minerals Ltd. (“Northern Dynasty” or the “Company”) (NYSE:NAK) securities between September 16, 2013 and February 14, 2017, inclusive (the “Class Period”).
Investors who have incurred losses in shares of Northern Dynasty Minerals Ltd. are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website, www.whafh.com.
If you have purchased shares of Northern Dynasty Minerals Ltd. within the class period and would like to assist with the litigation process, you may, no later than April 17, 2017, request that the Court appoint you lead plaintiff of the proposed class.
The filed Complaint alleges that 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) consequently, 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 released an article about Northern Dynasty alleging that Northern Dynasty’s main asset, the low-grade Pebble deposit, is not commercially sustainable and that for several years the Company has been concealing this information from the investing public that the Pebble project has a negative present value.
Following this news, Northern Dynasty stock dropped $0.68 per share or over 21% to close at $2.50 per share on February 14, 2017.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.
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