Federman & Sherwood Investigates Liberty Silver Corp. and Bobby Genovese For Possible Breaches of Fiduciary Duty and/or Violations of State and Federal Laws
OKLAHOMA CITY--(BUSINESS WIRE)--The law firm of Federman & Sherwood has launched an investigation into Liberty Silver Corp. (OTC: LBSV) (TSX:LSL) (“Liberty Silver” or “Company”), an exploration stage company, with respect to possible breaches of fiduciary duty by the company’s officers and directors, as well as Bobby Genovese and BG Capital Group, for violations of state and federal laws.
In late August 2012, there was a flurry of trading activity in shares of Liberty Silver Corp., which had the net effect of pumping up the Company’s share price from $.075 cents to $1.58. During this same period, the Company’s market value climbed from $61 million to $125 million. This flurry of trading activity is thought to involve stock investor Bobby Genovese (“Genovese”), who is reported to have owned or controlled approximately 48,400,000 in undisclosed free trading shares of Liberty Silver.
Because of this flurry of trading activity, on October 5, 2012, the United States Securities and Exchange Commission halted U.S. trading of Liberty Silver Corp. for a period of nearly two weeks, which resulted in LBSV being downgraded to the Grey Market pursuant to Rule 15c2-11. That same day, the Investment Industry Regulatory Organization of Canada issued a temporary halt to Canadian trading of Liberty Silver Corp. on the Toronto Stock Exchange.
Federman & Sherwood is investigating Liberty Silver Corp. and Bobby Genovese, as well as related Genovese entities. If you purchased common shares of Liberty Silver Corp. between November 11, 2011 and October 5, 2012, have lost money as a result of your purchases during this time period, have information to assist our investigation of Liberty Silver or Bobby Genovese, or have any questions or concerns regarding this notice or preservation of your rights, please contact William B. Federman. Federman & Sherwood has extensive nationwide experience in representing investors in securities, derivative and merger-related shareholder class actions, and has been appointed as lead counsel in multiple complex cases.
FEDERMAN & SHERWOOD
William B. Federman, 405-235-1560
Posted on Fri, June 14, 2013
by K. Lynn Nunn