NEW YORK, July 25, 2017
NEW YORK, July 25, 2017 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of Asanko Gold Inc. (NYSE: AKG) from October 24, 2014 through May 31, 2017, inclusive (the "Class Period"). The lawsuit seeks to recover damages for Asanko Gold investors under the federal securities laws.
To join the Asanko Gold class action, go to http://www.rosenlegal.com/cases-1139.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email email@example.com or firstname.lastname@example.org for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Asanko Gold's Mineral Resource Estimates are flawed; (2) some of Asanko Gold's resources models exhibit signs that they have been "smeared," which would cause estimates of their ore contents to be inflated; and (3) as a result, Asanko Gold's public statements were materially false and misleading at all relevant times.
On June 30, 2016, hedge fund K2 & Associates published a report asserting, among other things that Asanko Gold's gold resources "don't add up" and appear to be over-inflated by a factor of two. On this news, shares of Asanko Gold fell $0.15 per share or over 3% to close at $3.81 per share on June 30, 2016, damaging investors. On May 31, 2017, research firm Muddy Waters published a report asserting, among other things, that: (1) Asanko Gold made investments based on flawed geology in Nkran, its satellite pits and Esaase that Muddy Waters believes "will never be recovered"; and (2) there are indicia that some of Asanko Gold's resources models have been "smeared", which would cause estimates of their ore contents to be inflated. On this news, shares of Asanko Gold fell $0.58 per share or over 31% to $1.29 per share during intraday trading on May 31, 2017 and were halted, further damaging investors.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 31, 2017. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-1139.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at email@example.com or firstname.lastname@example.org.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Since 2014, Rosen Law Firm has been ranked #2 in the nation by Institutional Shareholder Services for the number of securities class action settlements annually obtained for investors.
Laurence Rosen, Esq.
Phillip Kim, Esq.
Kevin Chan, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 34th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
SOURCE Rosen Law Firm, P.A.