INVESTOR ALERT: Rosen Law Firm Reminds Horsehead Holding Corp. Investors of Important June 21 Deadline in Class Action – ZI...
June 18 2016 - 9:00AM
Rosen Law Firm, a global investor rights law firm, reminds
purchasers of Horsehead Holding Corp. securities (NASDAQ:ZINC) from
May 21, 2014 through February 2, 2016, both dates inclusive (the
“Class Period”) of the important June 21, 2016 lead plaintiff
deadline in the class action. The lawsuit seeks to recover damages
for Horsehead investors under the federal securities laws.
To join the Horsehead class action, go to the
firm’s website at http://rosenlegal.com/cases-886.html or call
Phillip Kim, Esq. or Kevin Chan, Esq. toll free at 866-767-3653 or
email pkim@rosenlegal.com or kchan@rosenlegal.com for more
information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE
ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY
COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS
MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR
CHOICE.
According to the lawsuit, throughout the Class
Period defendants issued false and misleading statements to
investors and/or failed to disclose that: (1) the Mooresboro
Facility was unable to operate as planned due construction defects;
(2) these operational problems at the facility were significant,
pervasive and the result of fundamental engineering and operational
defects; (3) Horsehead had not and did not know how to rectify the
problems at the Mooresboro Facility and as a result, production
disruptions and tens of millions of dollars in costs related to
these problems were likely and anticipated; (4) Horsehead was
employing expensive, temporary workarounds at the Mooresboro
Facility in order to achieve limited production capacity and as a
result, the facility was not providing significant cost savings,
but was causing Horsehead to spend cash at an unsustainable rate;
(5) the Mooresboro Facility did not have an annual zinc production
capacity of 155,000 tons and could not even sustainably achieve 50%
of that capacity; (6) operational issues at the Mooresboro Facility
were deteriorating as Horsehead used stop-gap measures to boost
production in the short term that were unsustainable, untested,
highly risky and causing decreased operational stability; (7)
Horsehead did not have sufficient liquidity, cash on hand and
anticipated cash flows for general corporate purposes to sustain it
through the full ramp-up of the Mooresboro Facility; and (8) as a
result, Horsehead’s public statements were materially false and
misleading at all relevant times. When the true details entered the
market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed.
If you wish to serve as lead plaintiff, you must move the Court no
later than June 21, 2016. A lead plaintiff is a representative
party acting on behalf of other class members in directing the
litigation. If you wish to join the litigation, go to the firm’s
website at http://rosenlegal.com/cases-886.html for more
information. You may also contact Phillip Kim, Esq. or Kevin Chan,
Esq. of Rosen Law Firm toll free at 866-767-3653 or via email at
pkim@rosenlegal.com or kchan@rosenlegal.com.
Rosen Law Firm represents investors throughout
the globe, concentrating its practice in securities class actions
and shareholder derivative litigation.
Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
Kevin Chan, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 34th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
kchan@rosenlegal.com
www.rosenlegal.com
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