On July 19, 2012, Gold Resource announced preliminary production results for the second quarter ended June 30, 2012, stating that the Company’s second quarter production was lower than expected and the Company was dramatically reducing guidance for fiscal years 2012 and 2013. In response to these revelations, shares of the Company’s common stock fell from its July 19, 2012 closing price of $24.99 per share to $17.34 per share.Then, on October 17, 2012, Gold Resource announced preliminary production results for the third quarter ended September 30, 2012, reporting additional reasons for the Company’s now lower than expected third quarter 2012 results, including, but not limited to, a dispute with the buyer of the Company’s metal concentrates resulting in the buyer claiming net adjustments (reductions) to Gold Resources’ invoices. In response to the October 17, 2012 press release, the Company’s common stock fell from its October 17, 2012 closing price of $20.15 per share to $18.01 per share on October 18, 2012, on extremely high volume.
The Shuman Law Firm Files A Securities Class Action Lawsuit Against Gold Resource Corporation
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