A lawsuit was filed on behalf of investors in Allied Nevada Gold Corp. (NYSEMKT:ANV) shares over alleged securities laws violations. Deadline: June 2, 2014. NYSEMKT:ANV investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com

San Diego, CA -- (ReleaseWire) -- 04/30/2014 --An investor, who purchased shares of Allied Nevada Gold Corp. (NYSEMKT:ANV), filed a lawsuit in the U.S. District Court for the District of Nevada over alleged violations of Federal Securities Laws by Allied Nevada Gold Corp. in connection with certain allegedly false and misleading statements made between January 18, 2013 and August 5, 2013.

If you purchased shares of Allied Nevada Gold Corp. (NYSEMKT:ANV), you have certain options and for certain investors are short and strict deadlines running. Deadline: June 2, 2014. NYSEMKT:ANV investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges on behalf of all persons or entities who purchased or otherwise acquired securities of Allied Nevada Gold Corp. (NYSEMKT:ANV) between January 18, 2013 and August 5, 2013 that Allied Nevada Gold Corp. and certain of its officers and directors violated Federal Securities Laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.

More specifically, the plaintiff claims that between January 18, 2013 and August 5, 2013 defendants issued materially allegedly false and misleading statements regarding Allied Nevada Gold Corp.’s financial performance and future prospects and failed to disclose adverse facts, including 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, 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, 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, that the Company’s operations were not generating the cash flow necessary to proceed with the construction of the Hycroft Mine mill, 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, 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, that the Company’s disclosure controls, and the certifications regarding those disclosure controls, were materially false and misleading; and 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.

Shares of Allied Nevada Gold Corp. (NYSEMKT:ANV) declined from $39.45 per share in October 2012 to $5.43 per share in July 2013. Then on August 6, 2013, Allied Nevada Gold Corp. reported its second quarter 2013 results. Allied Nevada Gold Corp. said that its production costs had soared, and would continue to do so. Furthermore, Allied Nevada Gold Corp. stated it would indefinitely suspend its planned expansion at the Hycroft mine. Shares of Allied Nevada Gold Corp. (NYSEMKT:ANV) declined to $3.73 per share on August 7, 2013 and continued to decline to as low as $3.07 per share in December 2013.

Then on February 24, 2014, Allied Nevada Gold Corp. reported its 2013 financial and operating results. Among other things, Allied Nevada Gold Corp. reported that its annual total Revenue rose from $214.56 million in 2012 to $267.90 million in 2013, while its Net Income declined from $47.73 million in 2012 to $1.41 million in 2013.

Shares of Allied Nevada Gold Corp. (NYSEMKT:ANV) closed on April 28, 2014, at $3.53 per share.

Those who purchased shares of Allied Nevada Gold Corp. (NYSEMKT:ANV) have certain options and should contact the Shareholders Foundation.

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
mail@shareholdersfoundation.com