Federman & Sherwood announces that a securities class action lawsuit has been filed against Hecla Mining Company (NYSE: HL)

Oklahoma City, OK (February 3, 2012) -- On February 1, 2012, a class action lawsuit was filed in the United States District Court for the District of Idaho against Hecla Mining Company (NYSE: HL). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is October 26, 2010 through January 11, 2012. More specifically, this litigation was filed because several accidents were reported from April 2011 through December 2011, in which seven minors were injured. Following the December incident, the Mine Safety and Health Administration (MSHA) issued an accident report accusing the Company of safety failures. The company was fined nearly $1 million and received four citations. On January 5, 2012, MSHA ordered closure of the mine to correct the safety hazards. Thereafter, on January 11, 2012, Hecla announced that the mine would be closed for up to one year and reduced its silver mining estimates by nearly 2 million ounces. Based upon this news, share price dropped significantly.

Plaintiff seeks to recover damages on behalf of all Hecla Mining Company shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above. You may move the Court no later than Monday, April 2, 2012 to serve as a lead plaintiff for the entire Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.
To join this class action, click here to obtain an investor certification. Once complete, please email this form to kln@federmanlaw.com, fax to us at (405) 239-2112 or send by regular mail to Federman & Sherwood, 10205 North Pennsylvania Avenue, Oklahoma City, OK 73120, ATTN: Lynn.