A lawsuit was filed on behalf of certain investors in shares of Silvercorp Metals Inc. (USA) (NYSE: SVM) over alleged securities laws violations. Deadline: March 1, 2013. NYSE:SVM investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com

San Diego, CA -- (SBWire) -- 01/14/2013 --An investor in shares of Silvercorp Metals Inc. (USA) (NYSE: SVM) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Silvercorp Metals Inc.in connection with certain allegedly false and misleading statmenets.

If you purchased shares of Silvercorp Metals Inc. (USA) (NYSE: SVM) between June 24, 2010 and September 13, 2011, you have certain options and there are short and strict deadlines running. Deadline: March 1, 2013. NYSE:SVM stockholders with a substantial investment in NYSE:SVM should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges on on behalf of a class consisting of all persons or entities who purchased or otherwise acquired securities of Silvercorp Metals Inc. (USA) (NYSE: SVM) between June 24, 2010 and September 13, 2011, that Silvercorp Metals Inc. and certain of its officers and directors violated the Securities Exchange Act of 1934. More specifically, the plaintiff alleges that between June 24, 2010 and September 13, 2011, the Company allegedly overstated the quality and quantity of its ore reserves. The plaintiff says that Silvercorp's own filings with the Chinese authorities demonstrated that it had lower production than represented in its filings with the SEC.

Shares of Silvercorp Metals Inc. (USA) fell from its on August 31 high of $9.25 per share to as low as $7.22 on September 2nd after Silvercorp Metals Inc. said that day that it was forwarded a copy of an anonymous letter dated August 29, 2011 addressed to the Ontario Securities Commission, its Auditors, and various media outlets alleging a "Potential $1.3 Billion Accounting Fraud at Silvercorp".

SVM stocks eventually regained some value and traded on Sept. 8, 2011 as high as $9.14 per share.

However, then on September 13, 2011 analyst firm Alfred Little issued a report claiming that Silvercorp Metals had concealed related party transactions and inflated the size of its revenue, earnings, assets, and operations in the documents it filed with the U.S. Securities and Exchange Commission (“SEC”). The report cited a number of sources, including Chinese regulatory filings, consulting geologists, and the results of its own on-the-ground due diligence.

NYSE: SVM stocks fell to as low as $6.01 per share on Sept. 14, 2011.

Over the next months NYSE:SVM shares declined to as low as $4.69 per share on Jan. 7, 2013.

On Jan. 11, 2013, NYSE:SVM shares closed at $4.75 per share, which is significantly below its current 52 week High of $8.45 per share.

Those who purchased shares of Silvercorp Metals Inc. (USA) (NYSE: SVM) between June 24, 2010 and September 13, 2011, have certain options and there are short and strict deadlines running. Deadline: March 1, 2013. NYSE:SVM stockholders with a substantial investment in NYSE:SVM should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Joelle Day
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com