If you purchased NovaGold Resources Inc. (“NovaGold”) common stock on the American Stock Exchange (the “AMEX”), theToronto Stock Exchange (the “TSX”), or by any other means during the period from October 25, 2005 to and including January 16, 2008 (the “Class Period”), your rights may be affected by class action lawsuit(s) and you may be entitled to a payment from a proposed class action settlement.
A class action settlement has been reached in several class action lawsuits pending against NovaGold Resources Inc. and certain of its directors, senior officers, and representatives (collectively “Defendants”) alleging that defendants violated Section 10(b) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder by issuing false and misleading statements about the economic viability of NovaGold’s largest mining project, Galore Creek, according to the NovaGold Resources securities class action settlement notice.
If approved by the courts, the NovaGold class action lawsuit settlement will create a Gross Settlement Fund (before payment of Taxes, Court approved attorneys’ fees and expenses, the U.S. Lead Plaintiff’s Court-approved costs and expenses, and the costs of claims administration, including the costs of printing and mailing Notice and the cost of publishing notices) of approximately US$26,600,000 plus interest for the benefit of class members who purchased NovaGold common stock during the ClassPeriod who timely submit valid proofs of claims.
The NovaGold class action settlement resolves actions pending before the United States District Court for the Southern District of New York (the U.S. Court”), the Supreme Court of British Columbia (the “British Columbia Court”), and the Ontario Superior Court of Justice (the “Ontario Court”, and collectively, the “Courts”):
- In re NovaGold Resources Inc. Securities Litigation, Master Case File 1:08-CV-7041 (DLC) (JCF) in the United States District Court for the Southern District of New York (the “U.S. Action”);
- Philip Elliott and William Kormos v. NovaGold Resources Inc., et al., Court File No. CV-09-13833 in the Ontario Superior Court of Justice (the “Ontario Action”); and
- Linda M. Elliott v. NovaGold Resources Inc., et al., Court File No. VLC-S-S-097866 in the Supreme Court of British Columbia (the “British Columbia Action”).
For more information on the NovaGold securities fraud class action lawsuit settlement and potential settlement benefits, contact the Claims Administrator at: NovaGold Resources Inc. Securities Litigation, c/o The Garden City Group, Inc., PO Box 9299, Dublin, OH 43017-4699, 866-887-1306 or visit the NovaGold Resources, Inc. Securities Litigation website:
www.novagoldclassaction.com
If You Have Thoughts On TheNovaGold Securities Class Action Lawsuit Settlement, Share Your Settlement Comments Below.