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BOSTON, May 29, 2019 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a national securities litigation firm, announces that a securities fraud class action has been filed against Hecla Mining Co. (NYSE: HL), and certain of its officers. Shareholders who lost money on their investments are encouraged to contact Block & Leviton LLP to learn more.
The pending lawsuit alleges that between March 19, 2018 and May 8, 2019 (the “Class Period”) (1) Hecla’s Nevada operations were hemorrhaging cash due to serious problems which Hecla had identified prior to the start of the Class Period; and (2) due to these serious problems, the 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.
When the truth became known, Hecla’s stock price fell $0.48 per share, or 23.5%, over the following two trading days to close at $1.56 per share on May 10, 2019.
If you purchased Hecla shares during the Class Period and want to become involved in the litigation or have questions about your legal rights, you are encouraged to contact Block & Leviton LLP at (617) 398-5660, by email at firstname.lastname@example.org, or by visiting https://shareholder.law/hecla.
As a member of the class, you may seek to file a motion to serve as a lead plaintiff or take no action and remain an absent class member. If you wish to serve as a lead plaintiff, you must move the Court no later than July 23, 2019.
The complaint in this case was filed in the United States District Court, Southern District of New York, and is captioned Batter v. Hecla Mining Company, et al., No. 19-cv-04883.
Block & Leviton LLP was recently ranked 4th among securities litigation firms by ISS for recoveries in 2017. The firm represents many of the nation's largest institutional investors and numerous individual investors in securities litigation throughout the country. Indeed, its lawyers have recovered billions of dollars for its clients.
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