|By PR Newswire||
|April 4, 2014 05:03 PM EDT||
NEW YORK, April 4, 2014 /PRNewswire/ -- Milberg LLP announces that a class action lawsuit has been filed in the United States District Court for the District of Nevada on behalf of purchasers of Allied Nevada Gold Corp. ("Allied Nevada" or the "Company) (NYSE MKT:ANV) common stock during the period between January 15, 2013 and August 5, 2014 (the "Class Period").
The complaint alleges that throughout the Class Period, defendants violated the federal securities laws by disseminating false and misleading statements to the investing public.
Specifically, the complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company's financial performance and future prospects and failed to disclose adverse facts, including: (a) that one of its three impermeable leach pads, the Lewis leach pad, was beset with undisclosed operating defects and production deficiencies, including, but not limited to, an insufficient supply of fresh water to leach ore and an inadequate solution pumping and piping infrastructure; (b) that in order to remediate the operating defects and production deficiencies at the Lewis leach pad, the Company would need to double the amount of fresh water available at the facility, replace the existing irrigation tubing, piping and pumping infrastructure and seek various regulatory approvals; (c) that the recurring operating defects and production deficiencies at the Lewis leach pad were having a materially adverse effect on the Company's production costs and operating cash flows; (d) that the Company's operations were not generating the cash flow necessary to proceed with the construction of the Hycroft Mine mill; (e) that the costs to remediate the operating defects and production deficiencies at the Lewis leach pad were reasonably likely to have a material adverse effect on the Company's future production, production costs and cash flows; (f) that, while Allied Nevada's newly installed carbon columns increased its solution processing capacity, silver recovery from that process was approximately one-third of the Company's historical recovery rate; (g) that the Company's disclosure controls, and the certifications regarding those disclosure controls, were materially false and misleading; and (h) that, based on the foregoing, defendants lacked a reasonable basis for their positive statements about Allied Nevada's leach pad solutions processing capacity, the Hycroft Mine mill expansion, and the Company's expected gold and silver production and its expected operating income and cash flows.
Additionally, the complaint alleges that in August 2013, defendants revealed that the Company's production costs had soared, and would continue to do so, because of systemic operating defects at the Lewis leach pad. In response to these revelations, the price of Allied Nevada common stock plummeted over a two day period from $5.90 per share at the close of trading on August 5, 2013 to $3.73 per share on August 7, 2013, representing a drop of more than 40%.
If you purchased Allied Nevada shares during the Class Period you may, no later than June 2, 2014, request that the Court appoint you lead plaintiff. A lead plaintiff is a class member that directs the litigation. Your share in any recovery will not be affected by serving as a lead plaintiff. You do not need to be a lead plaintiff to recover. You may retain Milberg LLP, or other attorneys, for this action, but do not need to retain counsel to recover. If this action is certified as a class action, class members will be automatically represented by Court-appointed counsel. The complaint in this action was not filed by Milberg.
If you would like to learn more about this potential matter, please contact the following attorney:
SOURCE Milberg LLP
Everyone wants to use containers, but monitoring containers is hard. New ephemeral architecture introduces new challenges in how monitoring tools need to monitor and visualize containers, so your team can make sense of everything. In his session at @DevOpsSummit, David Gildeh, co-founder and CEO of Outlyer, will go through the challenges and show there is light at the end of the tunnel if you use the right tools and understand what you need to be monitoring to successfully use containers in your...
Apr. 24, 2017 01:15 AM EDT Reads: 1,634
Developers want to create better apps faster. Static clouds are giving way to scalable systems, with dynamic resource allocation and application monitoring. You won't hear that chant from users on any picket line, but helping developers to create better apps faster is the mission of Lee Atchison, principal cloud architect and advocate at New Relic Inc., based in San Francisco. His singular job is to understand and drive the industry in the areas of cloud architecture, microservices, scalability ...
Apr. 24, 2017 01:00 AM EDT Reads: 3,205
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at Dell EMC, introduced a methodology for capturing, enriching and sharing data (and analytics) across the organization...
Apr. 24, 2017 12:30 AM EDT Reads: 6,312
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
Apr. 24, 2017 12:00 AM EDT Reads: 982
Grape Up is a software company, specialized in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the USA and Europe, we work with a variety of customers from emerging startups to Fortune 1000 companies.
Apr. 23, 2017 11:45 PM EDT Reads: 1,981
Financial Technology has become a topic of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 20th Cloud Expo at the Javits Center in New York, June 6-8, 2017, will find fresh new content in a new track called FinTech.
Apr. 23, 2017 11:30 PM EDT Reads: 2,154
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...
Apr. 23, 2017 11:00 PM EDT Reads: 1,579
@DevOpsSummit at Cloud taking place June 6-8, 2017, at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developm...
Apr. 23, 2017 10:30 PM EDT Reads: 1,947
Multiple data types are pouring into IoT deployments. Data is coming in small packages as well as enormous files and data streams of many sizes. Widespread use of mobile devices adds to the total. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the tools and environments that are being put to use in IoT deployments, as well as the team skills a modern enterprise IT shop needs to keep things running, get a handle on all this data, and deli...
Apr. 23, 2017 09:45 PM EDT Reads: 1,944
The age of Digital Disruption is evolving into the next era – Digital Cohesion, an age in which applications securely self-assemble and deliver predictive services that continuously adapt to user behavior. Information from devices, sensors and applications around us will drive services seamlessly across mobile and fixed devices/infrastructure. This evolution is happening now in software defined services and secure networking. Four key drivers – Performance, Economics, Interoperability and Trust ...
Apr. 23, 2017 09:30 PM EDT Reads: 3,539
In recent years, containers have taken the world by storm. Companies of all sizes and industries have realized the massive benefits of containers, such as unprecedented mobility, higher hardware utilization, and increased flexibility and agility; however, many containers today are non-persistent. Containers without persistence miss out on many benefits, and in many cases simply pass the responsibility of persistence onto other infrastructure, adding additional complexity.
Apr. 23, 2017 08:45 PM EDT Reads: 2,002
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Apr. 23, 2017 08:45 PM EDT Reads: 697
Cloud Expo, Inc. has announced today that Aruna Ravichandran, vice president of DevOps Product and Solutions Marketing at CA Technologies, has been named co-conference chair of DevOps at Cloud Expo 2017. The @DevOpsSummit at Cloud Expo New York will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and @DevOpsSummit at Cloud Expo Silicon Valley will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Apr. 23, 2017 06:45 PM EDT Reads: 2,314
Most companies are adopting or evaluating container technology - Docker in particular - to speed up application deployment, drive down cost, ease management and make application delivery more flexible overall. As with most new architectures, this dream takes a lot of work to become a reality. Even when you do get your application componentized enough and packaged properly, there are still challenges for DevOps teams to making the shift to continuous delivery and achieving that reduction in cost ...
Apr. 23, 2017 05:30 PM EDT Reads: 3,605
Translating agile methodology into real-world best practices within the modern software factory has driven widespread DevOps adoption, yet much work remains to expand workflows and tooling across the enterprise. As models evolve from pockets of experimentation into wholescale organizational reinvention, practitioners find themselves challenged to incorporate the culture and architecture necessary to support DevOps at scale. In his session at @DevOpsSummit at 20th Cloud Expo, Anand Akela, Senior...
Apr. 23, 2017 05:15 PM EDT Reads: 1,516