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NEW YORK, NY / ACCESSWIRE / December 29, 2020 / Pomerantz LLP announces that a class action lawsuit has been filed against Northern Dynasty Minerals Ltd. ("Northern Dynasty" or the "Company") (NYSE:NAK) and certain of its officers. The class action, filed in United States District Court for the Eastern District of New York, and docketed under 20-cv-06126, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Northern Dynasty securities from December 21, 2017 through November 25, 2020, both dates inclusive (the "Class Period"). Plaintiff seeks to recover compensable damages caused by Defendants' violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") and Rule 10b-5 promulgated thereunder by the Securities and Exchange Commission.
If you are a shareholder who purchased Northern Dynasty securities during the Class Period, you have until February 2, 2021 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at newaction@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
[Click here for information about joining the class action]
Northern Dynasty engages in the exploration of mineral properties in the U.S. Its principal mineral property is the Pebble copper-gold-molybdenum project comprising 2,402 mineral claims that cover an area of approximately 417 square miles located in southwest Alaska (the "Pebble Project").
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements, and failed to disclose material adverse facts about the Company's business, operational, and compliance policies. Specifically, Defendants made false and/or misleading statements and failed to disclose to investors that: (i) the Company's Pebble Project was contrary to Clean Water Act guidelines and to the public interest; (ii) the Company planned that the Pebble Project would be larger in duration and scope than conveyed to the public; (iii) as a result, the Company's permit applications for the Pebble Project would be denied by the US Army Corps of Engineers ("USACE") and (iv) as a result, Defendants' public statements were materially false and/or misleading at all relevant times.