Shareholders Sue Hecla Mining Co. After Deaths - Spokane, North Idaho News & Weather KHQ.com

Shareholders Sue Hecla Mining Co. After Deaths

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 after two miners died in separate accidents last year.

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.

      
      (Copyright 2012 by The Associated Press.  All Rights Reserved.)
   

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