Allied Nevada Gold Corp. receives class action lawsuit

A law office recently announced that a securities class action claim against a gold exploration company was filed on behalf of shareholders after allegations surfaced that the firm violated securities laws.

Milberg, LLP, noted that litigation was filed in the U.S. District Court for the District of Nevada against Allied Nevada Gold Corp. This includes all shareholders who acquired stock in the firm during the class period between Jan. 15, 2013, and Aug. 5, 2014.

The company allegedly made a number of statements that were either false or misleading regarding its financial performance and potential. This includes the company's Lewis leach pad having operational defects, but the company not letting shareholders know that there were any issues.

It is possible for shareholders to apply for the lead plaintiff position in this case. In order to be approved, all paperwork needs to be submitted to the court by June 2, 2014. This is not a mandatory position, and shareholders still have the ability to remain absent class members and take part in the lawsuit in that way.

For those who are looking for more information on this lawsuit, speaking with the law firm is an option. More details on the case can be found on the law office's website.

Further investigation begins
Another law firm noted that it will seek answers to shareholders' questions on the case. Depending on the outcome of this investigation, there may be a class action lawsuit filed in the future.

Law office Deans and Lyons noted that it will look into claims against Allied Nevada Gold Corp., as there may be issues stemming from statements made during August 2013.

"After the officers and directors allegedly made misleading statements, stock plummeted from August 5, 2013 to August 7, 2013," said Hamilton Lindley, securities lawyer at Deans and Lyons. "Our potential shareholder lawsuit will seek to ensure that all relevant information is disclosed and that the Allied Nevada Gold Corp. shareholders receive the highest price reasonably available for their stock."

For those shareholders who want to speak about their rights and how they may be affected, it is also an option to discuss matters with the law office. Lindley is the best person to speak with, and he can be reached by email. The law office's website also has further information.