The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from PR Newswire

Faruqi & Faruqi, LLP Announces Investigation of Nevsun Resources Ltd.

Wednesday, March 14, 2012

Faruqi & Faruqi, LLP Announces Investigation of Nevsun Resources Ltd.19:15 EDT Wednesday, March 14, 2012NEW YORK, March 14, 2012 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Nevsun Resources Ltd. ("Nevsun" or the "Company") (AMEX: NSU).(Logo: The investigation focuses on whether the Company and its executives violated federal securities laws by failing to disclose that: (1) mining operations at the Nevsun's Bisha Mine resulted in high yields of waste rock, rather than gold ore; (2) gold ore at the Bisha Mine was materially less than the amount estimated by the Company's depictions; (3) Nevsun was extracting gold ore more rapidly than planned in order to conceal from investors the shortfall of actual gold at the Bisha Mine; (4) the Company was aware that its model was materially defective because the actual amounts of gold mined at the Bisha Mine did not reconcile with the Company's model previously disseminated to the investing public; and (5) as a result, Nevsun materially overstated its gold reserves at the Bisha Mine.Request more information now by clicking here: ActionIf you purchased Nevsun securities between March 31, 2011 and February 6, 2012 and would like to discuss your legal rights, visit You can also contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to or Faruqi & Faruqi, LLP also encourages anyone with information regarding Nevsun's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case.  All communications will be treated in a confidential matter.FARUQI & FARUQI, LLP369 Lexington Avenue, 10th FloorNew York, NY 10017Attn:  Richard Gonnello, Francis McConville, Telephone: (877) 247-4292 or (212) 983-9330SOURCE Faruqi & Faruqi, LLP