Gilman Law LLP Investigating a Class Action Lawsuit on Behalf of Investors in Agnico-Eagle Mines, Ltd. for Securities Fraud.
Naples FL, (PRWEB) November 29, 2011
Gilman Law LLP, a leading national securities law firm, is now accepting claims for lawsuits on behalf of Agnico-Eagle Mines, Ltd. shareholders. The firm is actively investigating shareholder claims that Agnico-Eagle Mines, Ltd. and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing false and misleading information concerning the Company’s overall operational and financial condition and well-being resulting from significant problems in Agnico-Eagle Mines Ltd. mining operations and gold production at its Goldex mine in Val d’Or Quebec.
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If you purchased or otherwise acquired shares of Agnico-Eagle Mines, Ltd. between April 29, 2010 and October 19, 2011 (“Class Period”), and either lost money on the transaction or still hold the shares, you must contact Gilman Law LLP no later than January 6, 2012, in order to exercise your legal rights against Agnico-Eagle Mines.
Founded in 1953, Agnico-Eagle Mines, a Canadian based international gold producer, engages in the exploration, development and production of mineral properties in Canada, Finland and Mexico. On October 19, 2011, Agnico-Eagle Mines issued a press release announcing that, effective immediately, it was suspending its mining operations and gold production at its Goldex mine. This news caused Agnico-Eagle Mines’ shares to plummet 18.5%, to close at $46.51 per share on October 19, 2011, on very heavy trading volume.
Subsequently, a class action lawsuit was filed in the United States District Court for the Southern District of New York seeking class action status to benefit Agnico-Eagle investors who acquired the Company’s shares between April 29, 2010 and October 19, 2011 (Case No.: 1:2011cv07968). The lawsuit alleges the defendants failed to disclose that the Goldex Mine was experiencing significant structural problems that would eventually require the closing of the mine in October 2011. The Complaint further alleges that the Company failed to disclose the truth regarding Agnico-Eagle Mines’ financial condition and engaged in fraudulent and deceptive accounting practices. As a result, the Agnico-Eagle Mines lacked a reasonable basis for their positive statements about their business, operations, and prospects.
Agnico-Eagle Mines shareholders who are members of the Class must contact Gilman Law LLP no later than January 6, 2012 if they wish to seek appointment as lead plaintiff in the class action lawsuit. While share in any recovery is not affected by lead plaintiff status, that individual will act on behalf of other class members in directing the litigation, including determining whether and how much of a settlement to accept in the lawsuit. The lead plaintiff will be selected by the Court among applicants claiming the largest loss from investment in Agnico-Eagle Mines during the class period.
Gilman Law LLP has extensive experience representing both individual and institutional investors in securities class action lawsuits, and has recovered over a billion dollars for its clients. Gilman Law is ready to assist investors nationwide who have sustained losses as a result of the misleading statements made by Agnico-Eagle Mines. For more information on the Agnico-Eagle Mines, Ltd. investor class action lawsuit, please visit http://www.gilmanlawllp.com or http://www.gilmanlawsecuritiesstocksbondsfraud.com, http://www.investment-losses.com. For a free evaluation of your case please contact Gilman Law TOLL FREE at (888) 252-0048.
About Gilman Law LLP Gilman Law LLP, a leading national law firm with offices in Florida and Massachusetts, has been recognized for delivering successful results to their clients across a broad range of claims stemming from securities fraud, consumer product injury, mass tort, and class action lawsuits. For over 32 years, the Gilman Law LLP team of highly experienced lawyers has earned renown for tireless work on behalf of their clients on many of today’s most challenging and important legal issues.
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