SAN DIEGO, CA / ACCESSWIRE / June 24, 2019 / The Shareholders Foundation, Inc. announces that a lawsuit was filed for investors who formerly held Klondex Mines Ltd. (NYSE American: KLDX) shares.
Investors, who held shares of Klondex Mines Ltd. (NYSE American: KLDX) and received Hecla Mining Company (NYSE: HL) shares as a result of the takeover, might have certain options and should contact the Shareholders Foundation at [email protected] or call +1(858) 779 - 1554.
On March 19, 2018, Hecla Mining Company and Klondex Mines Ltd. announced Hecla Mining Company will acquire all the outstanding shares of Klondex Mines Ltd.. Under the Transaction, Hecla Mining Company will acquire Klondex Mines Ltd. for consideration of US$462 million with a mix of cash and shares of Hecla common stock and the newly formed company (Klondex Canada). Klondex's shareholders will receive US$2.47 per share in cash or shares of Hecla.
In May 2018, a lawsuit was filed in connection with the takeover of Klondex Mines Ltd. by Hecla Mining Company. The plaintiff alleges that the defendants breached their fiduciary duties to the Company's stockholders by agreeing to the Proposed Transaction which allegedly undervalues Klondex and is the result of a flawed sales process. The plaintiff further alleges that the defendants caused to be filed the materially deficient Preliminary Proxy on May 23, 2018 with the United States Securities and Exchange Commission ("SEC") in an effort to solicit stockholders to vote their Klondex shares in favor of the Proposed Transaction.
Those who held shares of Klondex Mines Ltd. (NYSE American: KLDX) and received Hecla Mining Company (NYSE: HL) shares as a result of the takeover have certain options and should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
[email protected]
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, 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. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.
SOURCE: Shareholders Foundation, Inc.