Press release
Investigation announced for Investors of NovaGold Resources Inc. (NYSE: NG) over potential Wrongdoing
An investigation on behalf of investors in NovaGold Resources Inc. (NYSE: NG) shares over potential wrongdoing.
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 concerns whether certain NovaGold Resources Inc. (NYSE: NG officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
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.
Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, 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, investigations, and/or settlements are not filed/initiated/reached and/or are not 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.
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