A Deadline is coming up on March 1, 2013 in lawsuit for investors in Silvercorp Metals Inc. (USA) (NYSE: SVM) and Silvercorp Metals Inc. (USA) (NYSE: SVM) stockholders should contact the Shareholders Foundation at firstname.lastname@example.org
San Diego, CA -- (SBWIRE) -- 02/12/2013 -- A deadline is coming up on March 1, 2013 in the lawsuit filed for certain investors of Silvercorp Metals Inc. (USA) (NYSE: SVM) over alleged securities laws violations by Silvercorp Metals in connection with certain allegedly false and misleading statements.
Investors with a substantial investment in Silvercorp Metals Inc. (USA) (NYSE: SVM) shares between June 24, 2010 and September 13, 2011, should get active before the Deadline that is coming up on March 1, 2013, and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
According to the complaint filed in the U.S. District Court for the Southern District of New York the plaintiff alleges 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.
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.
On Feb. 11, 2013, NYSE:SVM shares closed at $4.20 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.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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