- Bernstein Liebhard, a nationally acclaimed investor rights law firm, announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired the securities of Northern Dynasty Minerals Ltd. ("Northern Dynasty" or the "Company") (NYSE: NAK) from December 21, 2017 through November 25, 2020 (the "Class Period"). The lawsuit filed in the United States District Court for the Eastern District of New York alleges violations of the Securities Exchange Act of 1934.
If you purchased Northern Dynasty securities, and/or would like to discuss your legal rights and options please visit Northern Dynasty Shareholder Class Action Lawsuit or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com .
The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company's Pebble Project was contrary to Clean Water Act guidelines and to the public interest; (2) the Company planned that the Pebble Project would be larger in duration and scope than conveyed to the public; (3) as a result, the Company's permit applications for the Pebble Project would be denied by the U.S. Army Corps of Engineers; and (4) as a result, Defendants' public statements were materially false and/or misleading at all relevant times.
On August 24, 2020 , the U.S. Army released a statement concerning the Pebble Project, stating that it would result in "significant degradation of the environment and would likely result in significant adverse effects on the aquatic system or human environment." The U.S. Army further found that "the project, as currently proposed, cannot be permitted under Section 404 of the Clean Water Act." The U.S. Army requested that the Company submit a mitigation plan in response to this finding. On this news, Northern Dynasty's stock price fell $0.55 per share, or 37.9%, to close at $0.90 per share on August 24, 2020 .
On November 25, 2020 , Northern Dynasty reported that the U.S. Army Corps of Engineers had rejected its permit applications related to the Pebble Project.
On this news, Northern Dynasty's stock price fell $0.40 per share, or 50%, to close at $0.40 per share on November 25, 2020 , damaging investors.
If you wish to serve as lead plaintiff, you must move the Court no later than February 2, 2021 . A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn't require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
If you purchased Northern Dynasty securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/northerndynastymineralsltd-nak-shareholder-class-action-lawsuit-stock-fraud-339/apply/ or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com .
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal's "Plaintiffs' Hot List" thirteen times and listed in The Legal 500 for ten consecutive years.
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SOURCE Bernstein Liebhard LLP