An investigation into potential federal securities violations by Northern Dynasty Minerals Ltd (NYSEMKT:NAK) is being conducted on behalf of shareholders by Rosen Law Firm. The investigation has been prompted by allegations against Northern Dynasty implying that the company misled the investing public by issuing materially misleading information regarding its business.
Worthless pebble deposits
This follows a report that was published by Kerrisdale Capital Management on February 14, 2017, alleging that the low-grade pebble deposit, which is the key asset of Northern Dynasty, lacks commercial viability. The report further alleges that the mining company has been hiding the fact that the pebble project has a negative present value from the public for several years now.
With the report by Kerrisdale Capital Management having sent shares of the company spiraling downwards, a class action lawsuit is being prepared by Rosen Law Firm with a view to recovering the losses suffered by investors of Northern Dynasty. The global investor rights law firm is, therefore, calling upon those who bought shares of Northern Dynasty Minerals on or prior to February 13, 2017, to get in touch by calling, emailing or by visiting the law firm’s website.
Levi & Korsinsky
Also commencing an investigation of Northern Dynasty Minerals is Levi & Korsinsky on the basis that federal securities laws were flouted by the mining company. Unlike Rosen Law Firm which bases its intended action exclusively on a report by Kerrisdale Capital Management, Levi & Korsinsky’s action is informed by a report published by Seeking Alpha besides that of Kerrisdale Capital Management.
“The election of Donald Trump fueled hopes that a more mining-friendly EPA will allow the [Pebble mining] project to move forward. [However], legal and regulatory problems will continue to plague the Pebble project even under a Trump presidency,” reads the Kerrisdale report.
Investors who require more information regarding the investigation of Northern Dynasty Minerals by Levi & Korsinsky are supposed to fill a form providing their contact information as well as the number of shares owned and the day on which they were purchased.
In Tuesday’s trading session, shares of Northern Dynasty Minerals fell sharply by 21.38 percent to close the day at $2.50.