LOS ANGELES–(BUSINESS WIRE) – Glancy Prongay & Murray LLP ("GPM"), a leading national shareholder law firm, announced today that it is initiating an investigation on behalf of NovaGold Resources Inc. ("NovaGold" or the "Company") (NYSE 🙂 Has. NG) Investors regarding the potential violations of the company and its officers against federal securities laws.
If you have suffered a loss on your NovaGold investments or would like to inquire whether you may be able to make claims to offset your loss in accordance with federal securities laws, you can use your contact information at https://www.glancylaw.com/cases / Submit novagold-resources -inc /. You can also contact GPM's Charles H. Linehan at 310-201-9150, toll free at 888-773-9224, or email Shareholder@glancylaw.com to learn more about your rights.
On May 28, 2020, J. Capital Research or ("J. Capital") released a report alleging that "NovaGold's management team has systematically misled investors" regarding the company's Donlin gold mining project , a deposit that is so remote and technologically challenging The mine will never be built. "J. Capital criticized NovaGold for using" custom deception metrics, "which included, among other things," that $ 6.7 billion in capital is required to deposit (if) the feasibility study clearly shows that this figure is $ 8 billion. "J. Capital also claimed that" (t) he proposed a natural gas pipeline that is central to powering the project is dead on arrival, "and quoted an engineer as saying worked on the pipeline costing, stating that he "didn't know of an engineering firm that had one" had the experience of building such a complex pipeline. "
In the news, the company's share price fell $ 0.94 per share or more than 8% and closed at $ 9.71 per share on May 28, 2020, injuring investors.
Follow us for updates on LinkedIn, Twitter or Facebook.
Note for whistleblowers: Persons with non-public information about NovaGold should consider their options to support the investigation or to use the SEC Whistleblower program. Under the program, whistleblowers who provide original information can receive rewards of up to 30 percent for every successful recovery by the SEC. For more information, contact Charles H. Linehan at 310-201-9150 or 888-773-9224 or email Shareholders@glancylaw.com.
Glancy Prongay & Murray LLP is a leading law firm that represents investors and consumers in securities disputes and other complex class actions. ISS Securities Class Action Services consistently ranked GPM in its annual SCAS Top 50 report. In 2018, GPM was ranked as one of the top five law firms in terms of the number of class settlements for securities and one of the top six law firms for the total size of the settlements in dollars. With four offices across the country, GPM's nearly 40 lawyers have made groundbreaking decisions and reclaimed billions of dollars for investors and consumers in securities, antitrust, consumer and employment lawsuits. GPM's lawyers have handled cases that cover a wide range of corporate misconduct, including cases of financial adjustments, internal control weaknesses, profit management, fraudulent profit policies and forward-looking statements, misconduct by auditors, insider trading, violations of FDA regulations, measures that lead to FDA and DOJ investigations and many other forms of corporate misconduct. GPM's lawyers have worked on securities cases that affect nearly every industry and sector in the financial markets, including energy, consumer discretionary, consumer staples, real estate and REITs, finance, insurance, information technology, healthcare, biotechnology, cryptocurrency and medical devices, and many more . GPM's past success has been extensively reported by leading news and industry publications including the Wall Street Journal, the Financial Times, Bloomberg Businessweek, Reuters, the Associated Press, Barrons, Investors Business Daily, Forbes and Money.
In some countries, this press release may be considered a lawyer’s advertisement in accordance with applicable laws and ethical rules.