WILMINGTON, Del., Aug. 01, 2016 (GLOBE NEWSWIRE) -- Rigrodsky & Long, P.A.:
Rigrodsky & Long, P.A. announces that it has filed a class action complaint in the United States District Court for the Eastern District of Washington on behalf of holders of Mines Management, Inc. (“Mines”) (NYSE MKT:MGN) common stock in connection with the proposed acquisition of Mines by Hecla Mining Company (“Hecla”) announced on May 24, 2016 (the “Complaint”). The Complaint, which alleges violations of the Securities Exchange Act of 1934 against Mines, its Board of Directors (the “Board”), and Hecla, is captioned Assad v. Mines Management, Inc., Case No. 2:16-cv-00256-SMJ.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803, by telephone at (888) 969-4242; by e-mail at info@rl-legal.com; or at: http://www.rigrodskylong.com/investigations/mines-management-inc-mgn/.
On May 23, 2016, Mines entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Hecla. Pursuant to the Merger Agreement, Hecla will acquire Mines, and Mines’ shareholders will receive 0.2218 shares of Hecla for each share of Mines that they own (the “Proposed Transaction”).
The Complaint alleges that, in an attempt to secure shareholder support for the Proposed Transaction, on June 29, 2016, defendants issued materially incomplete disclosures in the Form S-4 Registration Statement (the “Registration Statement”) filed with the United States Securities and Exchange Commission. The Registration Statement, which recommends that Mines stockholders vote in favor of the Proposed Transaction, omits material information necessary to enable shareholders to make an informed decision as to how to vote on the Proposed Transaction, including material information with respect to the process and events leading up to the Proposed Transaction, Mines’ financial projections, and the opinions and analyses of Mines’ financial advisor.
Plaintiff seeks injunctive and equitable relief and damages on behalf of holders of Mines common stock.
If you wish to serve as lead plaintiff, you must move the Court no later than September 30, 2016. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the proposed class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation, and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
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