Shareholder rights law firm Robbins
Arroyo LLP announces that purchasers of Tahoe Resources Inc. (NYSE:
TAHO) have filed a class action complaint against the company’s officers
and directors for alleged violations of the Securities Exchange Act of
1934 between March 12, 2015 and July 5, 2017. Tahoe Resources, together
with its subsidiaries, acquires, explores for, develops, and operates
mineral properties in the Americas.
View this information on the law firm’s Shareholder Rights Blog: www.robbinsarroyo.com/tahoe-resources-inc-june-2018
Tahoe Accused of Failing to Meet Obligations for Escobal Mining
According to the complaint, Tahoe represented that it used commercially
reasonable efforts to ensure all land-related agreements were entered
into in accordance with applicable laws. Tahoe further asserted that
there are no indigenous populations currently living in the immediate
area of its Escobal mine site. On May 24, 2017, Tahoe disclosed that an
anti-mining organization filed a legal claim for violating the Xinca
indigenous people’s right of consultation in advance of granting the
Escobal mining license to Tahoe’s Guatemalan subsidiary. Although Tahoe
assured investors that the claim was without merit, on July 5, 2017,
Tahoe revealed that the Supreme Court of Guatemala temporarily suspended
the license to operate the Escobal mine. Since news of Tahoe’s troubles
surrounding the Escobal mine were made public, the company’s shares fell
over 46% to close at $5.01 per share on June 15, 2018.
Tahoe Shareholders Have Legal Options
Concerned shareholders who would like more information about their
rights and potential remedies can contact attorney Leonid Kandinov at
(800) 350-6003, LKandinov@robbinsarroyo.com,
or via the shareholder
information form on the firm’s website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional investors
in shareholder derivative and securities class action lawsuits, and has
helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested.
Attorney Advertising. Past results do not guarantee a similar outcome.
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