A lawsuit for investors in Uranium Energy Corp. (NYSEMKT:UEC) over alleged breaches of fiduciary duty by certain directors was filed and NYSEMKT:UEC stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 11/03/2015 -- A shareholder in NYSEMKT:UEC shares filed a lawsuit against certain directors of Uranium Energy over alleged breaches of fiduciary duties.
Investors who are current long term investors in Uranium Energy Corp. (NYSEMKT:UEC) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation or call 858-779-1554.
The plaintiff alleges that certain directors of Uranium Energy Corp breached their fiduciary duties and caused damages to the company and its shareholders. More specifically, the plaintiff claims that Uranium Energy Corp paid stock promoters to inflate shares of Uranium Energy Corp that four company principal, cashed in shares before the alleged fraud came to light. The plaintiff says that many of the same stock promoters used a variety of different names and websites in order to make it appear to the investing public that there were a vast number of reporters that considered the purchase of Uranium Energy Corp stock to be a great deal and that certain defendants made lucrative insider sales on nonpublic information,
Uranium Energy Corp faces a lawsuit over alleged securities laws violations. The plaintiff alleges that between October 14, 2014 and June 17, 2015, defendants made allegedly false and/or misleading statements and/or failed to disclose that Uranium Energy Corp. stock achieved an unsustainable valuation by using paid stock promoters, yet failed to disclose the use of such promoters in its regulatory filings pursuant to Section 17(b) of the Securities Act of 1933, and that as a result of the foregoing, Uranium Energy Corp's public statements were materially false and misleading at all relevant times.
On June 18, 2015, an article was published that alleged, among other items, that Uranium Energy Corp. reports zero sales in the past seven quarters from its sole producer, the Palangana Mine, and that after selling almost all of its inventory, there is only about $152,000 worth of inventory remaining.
Those who purchased shares of Uranium Energy Corp. have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com