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Investigation for NYSE: NG Investors over possible Securities Laws Violations by NovaGold Resources Inc. announced

07-16-2020 02:37 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation for investors in NovaGold Resources Inc. (NYSE: NG) shares over potential securities laws violations by NovaGold.

An investigation for investors in NovaGold Resources Inc. (NYSE: NG) shares over potential securities laws violations by NovaGold.

An investigation was announced concerning possible securities laws violations by NovaGold Resources Inc. in connection with certain financial statements.

Investors who purchased shares of NovaGold Resources Inc. (NYSE: NG), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether a series of statements by NovaGold Resources Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Canada based NovaGold Resources Inc. primarily explores for and develops gold mineral properties in the United States.

On May 28, 2020, J. Capital Research published a report claiming 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 Research 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 Research 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."

Shares of NovaGold Resources Inc. (NYSE: NG) declined from $12.52 per share in April 2020 to as low as $7.89 per share on June 08, 2020.

Those who purchased shares of NovaGold Resources Inc. (NYSE: NG) have certain options and should contact the Shareholders Foundation.

About:
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

Contact:
Shareholders Foundation, Inc.
Christopher Clausen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

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