San Diego, CA — (SBWIRE) — 10/29/2012 — An investor in shares of Gold Resource Corporation (NYSEAMEX:GORO) filed a lawsuit in the U.S. District Court for the District of Colorado against Gold Resource Corporation (NYSEAMEX:GORO over alleged securities laws violations in connection certain allegedly false and misleading financial statements.
Investors who purchased shares of Gold Resource Corporation (NYSEAMEX:GORO) between January 30, 2012 and October 17, 2012, have certain options and there are short and strict deadlines running. Deadline: December 24, 2012. NYSEAMEX:GORO investors should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
According to the complaint the plaintiff alleges on behalf of purchasers of Gold Resource Corporation (NYSEAMEX:GORO) common stock during the period between January 30, 2012 and October 17, 2012, that Gold Resource Corporation (NYSEAMEX:GORO) and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing between January 30, 2012 and October 17, 2012, allegedly materially false and misleading statements regarding Gold Resources operational status and financial projections.
Gold Resource Corporation is engaged in the exploration for and production of gold and silver in Mexicos southern State of Oaxaca. Gold Resource Corporation (NYSEAMEX:GORO) reported that its annual Revenue rose from $14.75 million in 2010 to $105.16 million in 2011 and its Net Loss of $23.07 million in 2010 turned into a Net Income of $60.12 million in 2011.
Shares of Gold Resource Corporation (NYSEAMEX:GORO) grew in 2011 to as high as $30.25 per share and traded for the most part of the first half of 2012 over $24 per share.
Then on July 19, 2012, after the market closed, Gold Resource Corporation (NYSEAMEX:GORO) reported its preliminary production results for the second quarter ended June 30, 2012.
Gold Resource Corporation said its second quarter production was lower than expected and as a result the Company revised its 2012 Outlook.
Shares of Gold Resource Corporation (NYSEAMEX:GORO) dropped from $25.24 per share on July 19, 2012, to $17.10 per share in July 23, 2012.
On July 24, 2012 and on August 28, 2012, Gold Resource Corporation (NYSEAMEX:GORO) declared its respective monthly dividends.
On August 9, 2012, Gold Resource Corporation (NYSEAMEX:GORO) announced results for its second quarter ending June 30, 2012. Among other things, Gold Resource Corporation (NYSEAMEX:GORO) said that its production increased 8% over the prior year quarter. For the second quarter in 2012 Gold Resource Corporation (NYSEAMEX:GORO) reported an increase in its second quarter Revenue from $20.66 million in 2011 to $30.01 million in 2012 and that its second quarter Net Income rose from $3.14 million in 2011 to $3.60 million in 2012.
Shares of Gold Resource Corporation (NYSEAMEX:GORO) reached in September 2012 $22.25 per share.
Then on October 17, 2012, after the market closed, Gold Resource Corporation (NYSEAMEX:GORO) reported its preliminary production results for the third quarter ended September 30, 2012 and revised its production outlook. On October 18, 2012, Gold Resource Corporation announced it appointed a new General Manager for its mining unit in in Oaxaca,Mexico.
Shares of Gold Resource Corporation (NYSEAMEX:GORO) dropped from $20.13 per share on October 17, 2012, to as low as $16.88 per share during October 18, 2012.
On October 25, 2012, NYSEAMEX:GORO shares closed at $16.74 per share.
Those who purchased shares of Gold Resource Corporation (NYSEAMEX:GORO) between January 30, 2012 and October 17, 2012, have certain options and there are short and strict deadlines running. Deadline: December 24, 2012. NYSEAMEX:GORO investors should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
[email protected]
