Gilman Law Investigates Lawsuit Against Agnico-Eagle Mines, Ltd.
Gilman Law LLP, a leading national securities law firm, is actively investigating shareholder allegations that Agnico-Eagle Mines, Ltd. (“Agnico-Eagle”) and certain of its officers and directors violated the Securities Exchange Act of 1940, by issuing false and misleading information concerning the Company’s overall operational and financial condition and well-being resulting from significant problems in the Company’s mining operations and gold production at its Goldex mine in Val d’Or Quebec. Founded in 1953, Agnico-Eagle, a Canadian based international gold producer, engages in the exploration, development and production of mineral properties in Canada, Finland and Mexico.
For over 40 years, the lawyers at Gilman Law have been involved in all major aspects of securities fraud litigation. The firm specializes in cases involving stock manipulation, securities fraud, and shareholder rights violations. If you purchased or otherwise acquired shares of Agnico-Eagle Mines, Ltd. (NYSE: AEM) between April 29, 2010 and October 19, 2011 (“Class Period”), you may contact Gilman Law LLP by January 6, 2012 to discuss your rights, including as to recovery of your losses or to obtain additional information.
Agnico-Eagle Allegedly Made False and Misleading Statements Concerning Their Business and Operations
A shareholders class action lawsuit was commenced in the United States District Court for the Southern District of New York. The complaint alleges that during the Class Period, Agnico-Eagle failed to disclose that Goldex Mine, one of the Company’s most important sources of revenue, was experiencing significant structural problems that would eventually require the closing of the mine in October 2011. The Complaint further alleges that the Company failed to disclose the truth regarding Agnico-Eagle’s financial condition. It is further alleged that Agnico-Eagle engaged in fraudulent and deceptive accounting practices. As a result of the false and misleading statements, the Company lacked a reasonable basis for their positive statements about their business, operations, and prospects.
Agnico-Eagle’s Securities Traded At Artificially Inflated Prices During the Class Period As A Result of the False and Misleading Information
On October 19, 2011, Agnico-Eagle issued a press release announcing that, effective immediately, it was suspending its mining operations and gold production at its Goldex mine in Val d’Or, Quebec. In response to this news, Agnico-Eagle’s shares fell 18.5%, to close at $46.51 per share on October 19, 2011, on a very heavy trading volume.
Gilman Law has extensive experience representing both individual and institutional investors in securities class action suits. Gilman Law has recovered over a billion dollars for its clients and can help you recover any losses that you have incurred as a result of Agnico-Eagle’s fraudulent practices. For a free evaluation of your case or to obtain additional information, please visit www.investment-losses.com or CALL TOLL FREE (888) 252-0048.