NEW YORK, NY / ACCESSWIRE / October 23, 2020 / Pomerantz LLP is investigating claims on behalf of investors of Hudbay Minerals Inc. ("Hudbay" or the "Company") (NYSE:HBM). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Hudbay and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On October 11, 2020, Hudbay issued a press release "report[ing] that production at its 777 Mine in Flin Flon, Manitoba, has been temporarily suspended due to an incident that occurred on October 9th during routine maintenance." Hudbay advised investors that "[a]n inspection of the damage . . . is underway and it is expected to take several weeks to fully assess the damage and the remedial work needed."
On this news, Hudbay's stock price fell $0.29 per share, or 6.29%, to close at $4.32 per share on October 12, 2020.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
SOURCE: Pomerantz LLP