World News: 01:00 GMT Thursday 30th May 2019. [Gainey McKenna & Egleston via Globe Newswire via SPi World News]
NEW YORK, May 29, 2019 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Hecla Mining Company (“Hecla” or the “Company”) (NYSE: HL) in the United States District Court for the Southern District of New York on behalf of those who purchased or acquired the securities of Hecla between March 19, 2018 through May 8, 2019, inclusive (the “Class Period”), seeking to recover damages caused by Defendants’ violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder.
The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (i) Hecla’s Nevada operations were hemorrhaging cash due to a multitude of material problems identified by defendants during Hecla’s extensive due diligence of the Nevada mines before the Class Period; (ii) due to these material problems, Defendants had no reasonable basis for their representations that the Nevada operations would be in a position to have positive or self-funding cash flow; and (iii) as a result, Hecla’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
Investors who purchased or otherwise acquired shares during the Class Period should contact the Firm lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at or .
Please visit our website at for more information about the firm.
Globe Newswire: 01:00 GMT Thursday 30th May 2019
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