SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders of Silvercorp
Metals, Inc., of Upcoming Deadline -- SVM
NEW YORK, Feb. 1, 2013 (GLOBE NEWSWIRE) -- Pomerantz Grossman Hufford
Dahlstrom & Gross LLP has filed a class action lawsuit against Silvercorp
Metals, Inc., ("Silvercorp" or the "Company") (NYSE:SVM) and certain of its
officers. The class action filed, in United States District Court, Southern
District of New York, and docketed under 13-Civ-279, is on behalf of a class
consisting of all persons or entities who purchased or otherwise acquired
securities of Silvercorp between June 24, 2010 and September 13, 2011, both
dates inclusive (the "Class Period"). This class action seeks to recover
damages against the Company and certain of its officers and directors as a
result of alleged violations of the federal securities laws pursuant to
Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5
If you are a shareholder who purchased Silvercorp securities during the Class
Period, you have until March 1, 2013 to ask the Court to appoint you as Lead
Plaintiff for the class. A copy of the Complaint can be obtained at
www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at
firstname.lastname@example.org or 888.476.6529 (or 888.4-POMLAW), toll free, x237.
Those who inquire by e-mail are encouraged to include their mailing address
and telephone number.
Silvercorp Metals engages in the acquisition, exploration, development, and
mining of precious and base metal properties in China and Canada.
The Complaint alleges that throughout the Class Period, the Company overstated
the quality and quantity of its ore reserves. Silvercorp's own filings with
the Chinese authorities demonstrated that it had lower production than
represented in its filings with the SEC.
On September 13, 2011, a report was published disclosing that Silvercorp had
been misleading the investing public about the quality and quantity of its
minerals production. When the truth regarding the quantity and quality of
Silvercorp's minerals production was disclosed, Silvercorp's stock price fell,
$1.54 per share or nearly 20% to close at $6.30.
The Pomerantz Firm, with offices in New York, Chicago, and San Diego, 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.
CONTACT: Robert S. Willoughby
Pomerantz Grossman Hufford Dahlstrom & Gross LLP
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