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Berger Montague is investigating potential securities fraud claims against Northern Dynasty Minerals Ltd. ("Northern Dynasty" or the "Company") on behalf of investors who purchased Northern Dynasty securities (NYSE: NAK) between December 21, 2017 and November 25, 2020 (the "Class Period").
If you purchased Northern Dynasty securities during the Class Period, have questions concerning your rights or interests, or would like to discuss Berger Montague's investigation, please contact attorneys Andrew Abramowitz at aabramowitz@bm.net or (215) 875-3015, or Donnell Much at dmuch@bm.net or (215) 875-4667, or contact us at www.bergermontague.com/northern-dynasty.
A recently filed lawsuit accuses Northern Dynasty and its senior management of misleading investors about the Company's proposed Pebble Project, a large mining project in Alaska, and its prospects for securing a permit from federal and state regulators. Northern Dynasty repeatedly touted its progress in obtaining the necessary permits for the Pebble Project and assured investors that its design entailed a substantially reduced development footprint and new environmental safeguards for the mine.
Investors first began to learn the truth on August 24, 2020, when the U.S. Army announced that the Pebble Project "cannot be permitted" as currently proposed, as it would significantly degrade the environment and result in significant adverse effects on the aquatic system or human environment. Then, on September 21, 2020, the Environmental Investigation Agency released recordings in which Northern Dynasty executives secretly revealed that the Company intended the Pebble Project to be far bigger than publicly represented.
Finally, on November 25, 2020, Northern Dynasty announced that the U.S. Army Corps of Engineers had rejected its Pebble Project permit application. On this news, shares of Northern Dynasty fell 50%, from a closing price of $0.80 per share on November 24, 2020 to $0.40 per share on November 25, 2020.
If you purchased Northern Dynasty securities during the Class Period, you may seek Court appointment as lead plaintiff to represent other injured investors in a class action. The lead plaintiff appointment deadline is February 2, 2021. You do not need to be a lead plaintiff to share in any potential Class recovery.
Whistleblowers: Persons with non-public information regarding Northern Dynasty Minerals Ltd. are encouraged to confidentially assist Berger Montague's investigation or take advantage of the SEC Whistleblower program. Under this program, whistleblowers who provide original information may receive rewards totaling up to thirty percent (30%) of recoveries obtained by the SEC. For more information, contact us.
Berger Montague, with offices in Philadelphia, Minneapolis, Washington, D.C., and San Diego, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for five decades and serves as lead counsel in courts throughout the United States.
Contacts
Andrew Abramowitz, Senior Counsel
Berger Montague
(215) 875-3015
aabramowitz@bm.net
Donnell Much, Associate
Berger Montague
(215) 875-4667
dmuch@bm.net
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/69876
