Robbins Arroyo LLP: Hecla Mining Company (HL) Sued for Misleading Shareholders

SAN DIEGO & BERLIN & COEUR D’ALENE, Idaho–(BUSINESS WIRE)–$HL #ClassAction–Shareholder rights law firm Robbins
Arroyo
LLP reminds investors that purchasers of Hecla Mining Company
(NYSE: HL) have filed a class action complaint against the company for
alleged violations of the Securities and Exchange Act of 1934 between
March 19, 2018 and May 8, 2019. Hecla discovers, acquires, develops, and
produces silver, gold, lead, and zinc.

View this information on the law firm’s Shareholder Rights Blog: https://www.robbinsarroyo.com/hecla-mining-company-may-19/

Hecla Accused of Making False and Misleading Statements

According to the complaint, in March 2018, Hecla announced the
acquisition of three Nevada gold mines through its acquisition of
Klondex Mines Ltd. Hecla’s President and CEO, Phillips S. Baker, Jr.,
falsely touted the potentially high returns and represented to investors
that the operations would be cash flow positive, or at the very least
“self-funding.” On May 9, 2019, Hecla shocked investors when it
disclosed a comprehensive review of its Nevada operations and the
suspension of annual production and cost estimates for its Nevada
operations. It also admitted that the Nevada operations were cash flow
negative. In a following conference call, Hecla not only confessed that
it was uncertain as to whether it would ever see a return on its
investment in the Nevada mines, but also disclosed that it had known
about the material problems in the Nevada operations prior to the close
of the merger. When the truth was revealed, Hecla’s stock declined by
23.5% over two trading days to close at $1.56 per share on May 10, 2019.
The stock price has yet to recover.

Hecla Shareholders Have Legal Options

Concerned shareholders who would like more information about their
rights and potential remedies can contact attorney Leo 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.

Contacts

Leo Kandinov
Robbins Arroyo LLP
5040 Shoreham Place
San
Diego, CA 92122
LKandinov@robbinsarroyo.com
(619)
525-3990 or Toll Free (800) 350-6003
www.robbinsarroyo.com