NEW YORK, June 2, 2017 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against Asanko Gold Inc. ("Asanko" or the "Company") (NYSE: AKG) and certain of its officers, on behalf of a class who purchased Asanko securities between October 24, 2014 through May 31, 2017, inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/akg.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Asanko's Mineral Resource Estimates are flawed; (2) some of Asanko's resources models exhibit signs that they have been "smeared," which would cause estimates of their ore contents to be inflated; and (3) consequently, Asanko's public statements were materially false and misleading at all relevant times.
On June 30, 2016, the K2 & Associates hedge fund published a report stating, among other things that Asanko's gold resources "don't add up" and seem to be exaggerated by a factor of two. Following this news, shares of Asanko stock dropped $0.15 per share or over 3% to close at $3.81 per share on June 30, 2016. On May 31, 2017, the Muddy Waters research firm published a report stating, among other things, that: (1) Asanko made investments based on flawed geology in Nkran, its satellite pits and Esaase that Muddy Waters believes "will never be recovered"; and (2) there are indicia that some of Asanko's resources models have been "smeared", which would cause estimates of their ore contents to be inflated. Following this news, Asanko stock dropped $0.58 per share or over 31% to $1.29 during intraday trading on May 31, 2017 and were then halted.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: www.bgandg.com/akg or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Asanko you have until July 31, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | firstname.lastname@example.org
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