Hagens Berman Advises Investors of Dec. 24, 2013, Deadline in Pretium Resources Inc. Securities Class-action Lawsuit

BERKELEY, Calif., Nov. 5, 2013 /PRNewswire/ -- Hagens Berman Sobol Shapiro LLP, a national investor-rights law firm, today advised investors of the Dec. 24, 2013, deadline to move to be a lead plaintiff in a securities class-action lawsuit filed against Canadian mining company Pretium Resources Inc. (NYSE: PVG) ("PVG"), following alleged misleading statements to U.S. and Canadian shareholders about the quantity and quality of their gold reserve estimates. Investors are invited to inquire about their options with Hagens Berman attorneys by emailing [email protected].

Investors who purchased PVG publicly traded securities of Pretium Resources Inc., on a U.S. stock exchange, between Jan. 9, 2012 and Oct. 21, 2013 (the "Class Period"), and suffered significant financial losses may qualify to be a lead plaintiff in the suit. The deadline to move for the position of lead plaintiff is Dec. 24, 2013. For more information, investors with losses greater than $200,000 are invited to contact Hagens Berman Partner Reed Kathrein, who is leading the firm's investigation, by calling (510)-725-3000.

Additional information is available at http://hb-securities.com/investigations/PVG.

Defendants sold more than $580 million in stock through a series of public and private offerings in both Canada and the U.S, while prices may have been artificially inflated due to false statements to investors. Hagens Berman is interested in talking to investors in both the public and private offerings who may have suffered significant losses.

The suits, filed in the United States District Court for the Southern District of New York, allege violations of federal securities laws by Pretium, certain officers and directors, and Silver Standard Resources, Inc. in connection with Pretium's statements regarding gold reserves in the Valley of Kings zone in British Columbia, Canada.

On October 9, 2013, Pretium issued a press release disclosing that Strathcona Mineral Services Ltd., a firm hired in late 2012 to independently assess gold reserves in the Valley of the Kings Sample Program, resigned from the project. On Oct. 22, 2013, Pretium issued a second release admitting that Strathcona had advised Pretium that "…statements included in all recent press releases [by Pretium] about probable mineral reserves and future gold production [from the Valley of the Kings zone] over a 22-year mine life are erroneous and misleading."  In addition, Strathcona advised that, "The infrequent high-grade intercepts reported in the press releases have been shown in the underground exposures of the bulk sample program to usually be of very narrow width (0.5 meters) and associated with narrow geological structures that occasionally have mineable continuity as in the case of the Cleopatra Vein."

At the time of its withdrawal, Strathcona further advised Pretium that it had previously asserted similar views critiquing the Snowden resource model for the Valley of the Kings, accompanied with "recommendations" for public disclosure of the preliminary bulk sample data supporting their conclusions.

Following the negative disclosures, the company's stock fell nearly 30 percent on Oct. 9, 2013 and 28 percent on Oct. 22, 2013.

Hagens Berman is investigating when Strathcona first advised Pretium of its concerns relating to possible overstated estimates for gold reserves in the Valley of Kings zone. "Pretium should have alerted investors to the controversy between its two experts when they first arose," stated Reed R. Kathrein, the attorney in charge of the investigation. "Trying to quietly resolve major disputes internally, while investors rely on glowing public statements, denies investors material information they need."

The deadline to move for the position of lead plaintiff in the case is Dec. 24, 2013.

Persons with non-public information should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC.

About Hagens Berman 
Hagens Berman Sobol Shapiro LLP is an investor-rights class-action law firm with offices in nine cities, including the San Francisco Bay Area where this lawsuit has been filed. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the law firm and its successes can be found at www.hbsslaw.com. The Firm's Securities Newsletter is at http://www.hb-securities.com/newsletter.

Contacts
Firmani + Associates
Mark Firmani, 206-443 9357
[email protected]

SOURCE Hagens Berman Sobol Shapiro, LLP