NEW YORK, July 7, 2015 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Silver Wheaton Corp. ("Silver Wheaton" or the "Company") (NYSE: SLW). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Silver Wheaton Corp. and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On July 7, 2015, pre-market, the Canada-based silver mining company announced that Canadian tax authorities plan to "reassess Silver Wheaton under various rules" in the country's tax law, contending that the company's reported income from its foreign subsidiaries should have been $567 million higher for the years 2005 through 2010. If additional taxes are assessed on Silver Wheaton, the company believes it will have to pay approximately $150 million in taxes and another $57 million in penalties.
On this adverse news, the company's shares have fallen more than 10% in intraday trading on July 7, 2015.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP