Shareholders sue Hecla Mining Co.

Shareholders sue Hecla Mining Co.

Credit: KING

Shareholders sue Hecla Mining Co.

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by Associated Press

KREM.com

Posted on February 3, 2012 at 1:25 PM

   COEUR D'ALENE, Idaho (AP) -- Some shareholders are suing Hecla Mining Co. for stock losses they have endured after the federal government shut down the Lucky Friday Mine for safety violations.


   The Bricklayers of Western Pennsylvania Pension Plan this week filed the lawsuit in federal court in Idaho against Hecla, which is based in Coeur d'Alene.


   Hecla has said the mine will be closed for a year to make the changes ordered by federal regulators.


   The lawsuit contends the closure caused Hecla's stock price to fall dramatically and that the company made false and misleading statements that artificially inflated the price of its stock prior to the shutdown.


   Officials for Hecla did not immediately return a message seeking comment.

 

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