Investigation Overview
March 20, 2015 (Shareholders Foundation) - An investigation on behalf of investors of Gold Resource Corporation (NYSEMKT:GORO) shares over potential securities laws violations by Gold Resource 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 Gold Resource Corporation (NYSEMKT:GORO) concerning whether a series of statements by Gold Resource regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Gold Resource Corporation reported that its annual Total Revenue declined from $131.79 million in 2012 to $125.78 million in 2013 and that its respective Net Income decreased from $33.67 million to $0.09 million.
Shares of Gold Resource Corporation (NYSEMKT:GORO) declined from $27.46 per shares in February 2012 to as low as $2.82 per share in late 2014.
On March 17, 2014, Gold Resource Corporation announced that it will delay the filing of its Securities and Exchange Commission ('SEC') Form 10-K for 2014, citing the need for more time to review and finalize income tax information related to its Mexico operations. Shares of Gold Resource Corporation (NYSEMKT:GORO) declined to as low as $2.62 per share on March 18, 2015.