Zeldes & Haeggquist, LLP Announces Investigation of Gold Resource Corporation
Zeldes & Haeggquist, LLP, a shareholder and consumer rights litigation firm, has commenced an investigation into possible violations of the federal securities laws by certain officers and directors at Gold Resource Corporation (“Gold Resource” or the “Company”) between January 20, 2012 and October 17, 2012.
If you purchased shares of Gold Resource (NYSE AMEX: GORO) between January 20, 2012, and October 17, 2012 and would like additional information regarding this investigation, or if you have information regarding the matters under investigation, please contact attorney Amber L. Eck at 619-342-8000 or by email at email@example.com.
Based in Colorado Springs, Colorado, Gold Resource mines, mills and produces metal concentrates that contain gold, silver, copper, lead and zinc in the southern state of Oaxaca, Mexico.
Zeldes & Haeggquist's investigation concerns whether certain of the Company's officers and directors caused Gold Resource to materially overstate its mining business successes between January 20, 2012 and October 17, 2012, artificially inflating revenue expectations in the investment community and the Company's stock price.
Despite making repeated positive statements about the Company's operations and financial expectations, Gold Resource shocked the market after the close of trading on July 19, 2012, by disclosing that the Company's ramp up of production during the first quarter of 2012 had precipitated significant operational problems in the Company's underground mines in the second quarter of 2012. As a result, the Company was forced to slash fiscal year 2012 production guidance. On this news, Gold Resource's stock fell approximately 30% per share on extremely high trading volume.
Then, after the close of trading on October 17, 2012, Gold Resource disclosed that, contrary to its statements that it had addressed its operational problems, the Company was forced to disclose that its third quarter 2012, fiscal year 2012 and fiscal year 2013 earnings would fall substantially short of what the investment community had been led to expect. Investors were again shocked, causing Gold Resource's stock price to fall to below $17 per share on October 18, 2012, again on extremely high trading volume.
Zeldes & Haeggquist is a full-service law firm which brings major class actions nationwide on behalf of defrauded investors and consumers and handles a variety of complex business litigation matters. Please visit www.zhlaw.com for more information.
Zeldes & Haeggquist, LLP
Amber L. Eck, 619-342-8000