NEW YORK, NY / ACCESSWIRE / August 21, 2015 / Pomerantz LLP is investigating claims on behalf of investors of Eldorado Gold Corporation (“Eldorado Gold” or the “Company”) (EGO). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Eldorado Gold and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On August 19, 2015, post-market, the company announced it was temporarily suspending operations at three sites in Northern Greece following the revocation of approvals for technical studies by the Greek Energy Ministry. The ministry reasoned Eldorado’s tests should have been conducted on site, and not at its plant in Helsinki, Finland. The company has temporarily suspended the majority of its 2,000 Greek workers pending the result of an injunction filed with the Greek Supreme Court, and may lay the workers off should the injunction fail. Eldorado has described the Greek ministry’s actions as “hostile” and “inappropriate,” citing to three years of favorable decisions from the Greek Council of State.
On this news, Eldorado Gold Corporation shares fell as much as $0.50, or 12.41% during intraday trading on August 21, 2015.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Florida, 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.pomerantzlawfirm.com.
SOURCE: Pomerantz LLP