Investigation Overview
August 25, 2015 (Shareholders Foundation) - An investigation on behalf of investors of Eldorado Gold Corp (USA) (NYSE:EGO) shares over potential securities laws violations by Eldorado Gold and certain of its directors and officers in connection certain financial statements was announced.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Eldorado Gold Corp (USA) (NYSE:EGO) concerning whether a series of statements by Eldorado Gold regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Eldorado Gold Corp reported that while its annual Total Revenue declined from over $1.12 billion in 2013 to over $1.06 billion in 2014 its Net Loss of $653.33 million in 2013 turned to a Net Income of $102.61 million in 2014.
On August 19, 2015, post-market, Eldorado Gold Corp announced it was temporarily suspending operations at three sites in Northern Greece following the revocation of approvals for technical studies by the Greek Energy Ministry.
Shares of Eldorado Gold Corp (USA) (NYSE:EGO0 declined on August 24, 2014 to $3.10 per share.