This is a securities fraud class action lawsuit against Crystallex International Corporation.
Crystallex is a Canadian-based gold producer with operations and exploration properties in Venezuela.
The class action complaint alleges that the Crystallex made several statements during the Class Period about Crystallex's Las Cristinas Gold Project located in Sifontes, Venezuela, and that the issuance of the required Venezuelan government permit in connection with that project was imminent. Crystallex, allegedly however, did not have a reasonable expectation that Crystallex would receive the required permit and that on April 30, 2008, the permit was, in fact, denied. On news that the permit was denied, the complaint alleges, Crystallex's stock fell roughly from a closing price of $1.68 on April 29, 2008, to a closing price of $0.91on April 30, 2008, on heavy volume.
Name (Stock Symbol)
Crystallex International Corporation
Crystallex International Corporation is a gold mining company with properties in Venezuela.
The information provided on ClassAdvocate.com is general in nature,
does not apply to any particular factual situation, and is not and
should not be taken as legal or other professional advice. We make no
commitment or warranty that the factual, legal or any other information
on ClassAdvocate.com, or on any linked website, is accurate, complete,
error-free, or current. As such, you should not rely on such information,
and should seek professional advice if and as you determine appropriate.
ClassAdvocate.com is not a lawyer referral service, and no attorney-client
or confidential relationship is or should be formed by use of the site.
The investigations listed on ClassAdvocate.com are attorney advertisements
and do not in any way constitute a referral or endorsement by ClassAdvocate.com
or any approved or authorized lawyer referral service.