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The Law Firm of Levi & Korsinsky Notifies Investors with Losses on Their Investment in Hecla Mining Company of Class Action Lawsuit and the Deadline of April 2, 2012 to Seek a Lead Plaintiff Position

02.02.2012  |  Business Wire


Levi & Korsinsky announces that a class action lawsuit has been
commenced in the United States District Court for the District of Idaho
on behalf of investors who purchased Hecla Mining Company ('Hecla? or
the 'Company?) (NYSE: HL) stock between October 26, 2010 and January 11,
2012 (the 'Class Period?).


For more information, click here: http://zlk.9nl.com/hecla-mining-hl.


Due to a series of accidents at the Lucky Friday mine in 2011, the Mine
Safety and Health Administration ('MSHA?) engaged in a close inspection.
In December, MSHA issued an accident report accusing Hecla of safety
failures that led to the death of a miner in April 2011. On January 5,
2012, MSHA issued a closure order for the Lucky Friday mine for the
removal of built-up material in the shaft that had been leaking into the
shaft for a number of years. On January 11, 2012, Hecla announced that
the Lucky Friday mine would be closed for up to a year based upon MSHA′s
order. As a result of the closure, Hecla reduced its estimated silver
production for 2012 from more than 9 million ounces to around 7 million
ounces. On this news, Hecla stock dropped $1.23 per share, to close at
$4.61 per share on January 11, 2012, a one-day decline of 21%.


According to the complaint, during the class period, defendants knew but
concealed from the investing public the following materially adverse
facts: (a) the Company was not in compliance with safety regulations at
its Lucky Friday mine; (b) the Company had allowed sand and concrete
material to improperly build up in the mine shaft over a period of
years, creating a safety hazard; (c) following the mandated closure in
January, the Company would be unable to reestablish mining operations at
the Lucky Friday mine by February 2012, as the Company had previously
represented; (d) the Company improperly accounted for its contingent
liabilities in violation of Generally Accepted Accounting Principles;
and (e) based on the foregoing, defendants lacked a reasonable basis for
their positive statements about the Company′s operations and its
expected silver production.


If you suffered a loss in Hecla you have until April 2, 2012to
request that the Court appoint you as lead plaintiff. Your ability to
share in any recovery doesn't require that you serve as a lead
plaintiff. To obtain additional information, contact Joseph E. Levi,
Esq. either via email at jlevi@zlk.com
or by telephone at (877) 363-5972, or visit http://www.zlk.com/hecla-mining-hl.html.


Levi & Korsinsky has expertise in prosecuting investor securities
litigation and extensive experience in actions involving financial fraud
and represents investors throughout the nation, concentrating its
practice in securities and shareholder litigation. Attorney advertising.
Prior results do not guarantee similar outcomes.


Levi & Korsinsky, LLP

Joseph Levi, Esq.

Eduard Korsinsky, Esq.

30 Broad Street - 15th Floor

New York, NY 10004

Tel: (212) 363-7500

Toll Free: (877) 363-5972

Fax: (212) 363-7171

www.zlk.com


Levi & Korsinsky, LLP

Joseph Levi, Esq.

Eduard Korsinsky,
Esq.

212-363-7500 or 877-363-5972


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