Bernstein Liebhard LLP Announces That It Is Investigating Claims Against Silver Wheaton Corp.
July 7, 2015
Bernstein Liebhard LLP today announced that it is investigating possible claims against Silver Wheaton Corp. (“Silver Wheaton” or the “Company”) (NYSE: SLW). The investigation concerns whether Silver Wheaton and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
Silver Wheaton is the world’s largest precious metals streaming company.
On July 7, 2015, the Company announced that Canadian tax authorities plan to “reassess Silver Wheaton under various rules” in the country’s tax law, contending that the company’s reported income from its foreign subsidiaries should have been $567 million higher for the years 2005 through 2010. If additional taxes are assessed on Silver Wheaton, the company believes it will have to pay approximately $150 million in taxes and another $57 million in penalties.
In reaction to this news, Silver Wheaton’s stock price declined $2.08 per share, or more than 11.8% on July 7, 2015.
If you lost money in Silver Wheaton, or are interested in discussing your rights as a Silver Wheaton shareholder and/or have information relating to the matter, please contact Joseph R. Seidman, Jr. at (877) 779-1414 or firstname.lastname@example.org.
Bernstein Liebhard LLP has pursued hundreds of securities, consumer and shareholder rights cases and recovered over $3 billion for its clients. The National Law Journal has recognized Bernstein Liebhard for twelve consecutive years as one of the top plaintiffs’ firms in the country.