SAN FRANCISCO, December 8, 2020 / PRNewswire / – Hagens Berman Calls on Northern Dynasty Minerals Ltd. Investors (NYSE: NAK) to file their losses now. A class action lawsuit for securities fraud has been filed and certain investors may have valuable claims.
School lesson: December 21, 2017 – – November 25, 2020
Deadline of the main plaintiff: February 2, 2021
Contact an attorney now: (Email protected)
Northern Dynasty Minerals Ltd. class action lawsuit against securities fraud (NAK):
The lawsuit alleges that Northern Dynasty and executives misled investors about the feasibility of the Company's proposed Pebble Project, a major mining project in Alaska.
Over the past few quarters, the Northern Dynasty has repeatedly touted its progress in obtaining the necessary approval for the Pebble Project. The company and management have repeatedly assured investors that the design of the Pebble project involved significantly reduced development efforts and significant new environmental protection measures and, as a result, would likely receive the necessary approvals from federal, state and local regulatory agencies.
Investors began to learn the truth through a series of partial statements beginning on August 24, 2020When the US Army announced that the Pebble Project would have a significant environmental impact, would have a significant adverse effect on the water system or the human environment, and would be "prohibited" as proposed. This news caused Northern Dynasty stocks to fall.
On September 21, 2020The Environmental Investigation Agency released records of conversations between Northern Dynasty executives and EIA investigators revealing the company's plans to expand and geographically expand the Pebble Project's mining operations from 20 years to 180-200 years.
Finally on November 25, 2020Northern Dynasty announced the US Army Corps. of Engineers turned down an application for approval of a Pebble project under the Clean Water Act, stating that the project was "not in the public interest". This news caused the price of the northern dynasty to drop again.
"Our focus is on, among other things, investor losses and demonstrating that Northern Dynasty and its senior management deliberately misled investors and manipulated the approval process in order to obtain personal compensation for it," he said Reed Kathrein, the Hagens Berman partner who led the investigation.
If you are a Northern Dynasty investor, click here to discuss your statutory rights with Hagens Berman.
Whistleblowers: Individuals with nonpublic information about the Northern Dynasty should review their options to help with the investigation or to use the SEC whistleblower program. Under the new program, whistleblowers who provide original information can receive rewards of up to 30 percent for each successful SEC recovery. Call for more information Reed Kathrein at 844-916-0895 or by email to:(Email protected).
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SOURCE Hagens Berman Sobol Shapiro LLP