Nevsun Resources, Ltd. Shareholder Alert: The Briscoe Law Firm and Powers Taylor, LLP Investigate Possible Breaches of Fiduciary Duty by the Officers and Directors of Nevsun Resources, Ltd.
Former United States Securities and Exchange Commission attorney Willie
Briscoe, founder of The
Briscoe Law Firm, PLLC, and the securities litigation firm of Powers
Taylor, LLP announce that the firms are investigating legal claims
against the officers and Board of Directors of Nevsun
Resources, Ltd. ('Nevsun?) (AMEX: NSU) related to potential
securities violations between February 31, 2011 and February 6, 2012
(the 'Class Period?).
If you are an affected investor and you want to learn more about the
lawsuit or join the action, contact Patrick Powers at Powers Taylor,
LLP, toll free (877) 728-9607, via e-mail at patrick@powerstaylor.com,
or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via
email at WBriscoe@TheBriscoeLawFirm.com.
There is no cost or fee to you.
In a recently filed federal class action complaint, Nevsun and certain
of its officers and directors were charged with violating the Securities
Exchange Act of 1934. Specifically, the complaint alleges that
defendants′ statements during the Class Period were each materially
false and misleading in that defendants knew or recklessly disregarded
that: (a) Nevsun′s mining activities at the Bisha mine produced a
material amount of waste rock, rather than gold ore; (b) defendants knew
or had reason to know that the amounts of gold and gold ore recovered
from the Bisha mine were materially less than Nevsun′s reserve estimate;
(c) Nevsun was aware that its resource model was materially defective
because the actual amounts of gold mined at Bisha did not reconcile with
Nevsun′s previously disseminated reserve estimate; and (d) Nevsun
materially overstated its gold reserves at the Bisha mine.
According to shareholder rights attorney Willie Briscoe, 'The recent
revelations about Nevsun′s possible misrepresentations regarding its
business and financial status, including that it materially overstated
its reserves are particularly troubling. This has led our firms to
investigate possible breaches of fiduciary duties, and other violations
of state law by Nevsun′s officers and directors. Based on our
investigation, we are prepared to institute litigation to preserve the
company and the value of Nevsun stock for all shareholders.?
The
Briscoe Law Firm, PLLC is a full service business litigation,
commercial transaction, and public advocacy firm with more than 20 years
of experience in complex litigation and transactional matters.
Powers
Taylor, LLP is a boutique litigation law firm that handles a variety
of complex business litigation matters, including claims of investor and
stockholder fraud, shareholder oppression, shareholder derivative suits,
and security class actions.
Powers Taylor, LLP
Patrick Powers, 877-728-9607
patrick@powerstaylor.com
or
The
Briscoe Law Firm, PLLC
Willie Briscoe, 214-706-9314
WBriscoe@TheBriscoeLawFirm.com