NovaGold Resources Inc. (NG)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of NovaGold Resources Inc. ("NovaGold" or "the Company") (NYSE: NG). The investigation concerns whether NovaGold and certain of its officers and/or directors have violated federal securities laws.
On May 28, 2020, J. Capital Research (“J. Capital”) published a report alleging that “NovaGold’s management team has systematically misled investors” about the Company’s Donlin gold-mining project, “a deposit so remote and technologically challenging that the mine will never be built.” J. Capital criticized NovaGold for using “custom metrics designed to deceive,” which included, among other representations, that “the deposit will require $6.7 bln in capital, [when] the feasibility study clearly shows this number is $8 bln.” J. Capital also contended that “[t]he proposed natural gas pipeline central to powering the project is dead on arrival,” quoting an engineer who worked on costing the pipeline as stating that he “doesn’t know of any engineering company that has the experience to build such a complex pipeline.” On this news, NovaGold’s stock price fell $0.94 per share, or 8.83%, to close at $9.71 per share on May 28, 2020.
If you are aware of any facts relating to this investigation, or purchased NovaGold shares, you can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.