WILMINGTON, Del., July 23, 2015 /PRNewswire/ -- Rigrodsky & Long, P.A.:
- Do you, or did you, own shares of Silver Wheaton Corp. (NYSE : SLW)?
- Did you purchase your shares between March 30, 2011 and July 6, 2015, inclusive?
- Did you lose money in your investment in Silver Wheaton Corp.?
- Do you want to discuss your rights?
Rigrodsky & Long, P.A., including former Special Assistant United States Attorney, Timothy J. MacFall, announces that a complaint has been filed in the United States District Court for the Central District of California on behalf of all persons or entities that purchased the common stock of Silver Wheaton Corp. ("SLW" or the "Company") (NYSE : SLW) between March 30, 2011 and July 6, 2015, inclusive (the "Class Period"), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the "Complaint").
If you purchased shares of SLW during the Class Period, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242; by e-mail to email@example.com; or at: http://rigrodskylong.com/investigations/silver-wheaton-corp-slw.
The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company's business, operations and prospects. Specifically, the Complaint alleges that the defendants concealed from the investing public that: (1) SLW's financial statements contained errors concerning income tax owed from the income generated by its foreign subsidiaries; (2) the Company lacked adequate controls over its financial reporting; and (3) as a result of the foregoing, the Company's financial statements were materially false and misleading at all relevant times. As a result of defendants' alleged false and misleading statements, the Company's stock traded at artificially inflated prices during the Class Period.
According to the Complaint, on July 6, 2015, the Company issued a press release, announcing, among other things, that the Canada Revenue Agency is taking the position that the transfer pricing provisions of the Income Tax Act (Canada) relating to income earned by foreign subsidiaries outside of Canada should be applied such that SLW's taxable income should be increased approximately $567 million for the period between 2005 and 2010.
On this news, shares in CorMedix dropped over 11%, closing at $15.46 per share on July 7, 2015, on heavy trading volume.
If you wish to serve as lead plaintiff, you must move the Court no later than September 8, 2015. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
While Rigrodsky & Long, P.A. did not file the Complaint in this matter, the firm, with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar outcome.
SOURCE Rigrodsky & Long, P.A.