Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Silvercorp Metals, Inc. To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Silvercorp Metals, Inc. (“Silvercorp” or the “Company”) (NYSE: SVM).
The investigation focuses on whether the Company and its executives violated federal securities laws by failing to disclose that production levels of silver, lead and zinc from Silvercorp’s Ying Mine, the Company’s primary revenue-generating asset, were lower than had been represented.
On September 13, 2011, a short-selling analyst firm, Alfredlittle.com, issued a report that called into question the veracity of Silvercorp’s claims regarding production at the Ying Mine. According to the report, Silvercorp’s SEC filings overstated its actual production of silver by 306%, its production of lead by 306%, and its production of zinc by 18%. On this news, shares in Silvercorp fell almost 20%, closing at $6.30 per share on September 13, 2011, from a close of $7.84 per share on September 12, 2011, on volume of over 35 million shares.
If you purchased Silvercorp stock or options between June 24, 2010 and September 13, 2011, inclusive and would like to discuss your legal rights, contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org or email@example.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Silvercorp’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.