SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Silver Wheaton Corp.

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Jul 07, 2015, 12:44 ET

NEW YORK, July 7, 2015 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of Silver Wheaton Corp. ("Silver Wheaton" or the "Company") (NYSE: SLW). Such investors are advised to contact Peretz Bronstein or his investor relations coordinator Eitan Kimelman at [email protected] or 212-697-6484.

The investigation concerns whether Silver Wheaton and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.

On July 7, 2015, the Company announced that it received a proposal letter dated July 6, 2015 from the Canada Revenue Agency (the "CRA") in which the CRA is proposing to reassess Silver Wheaton under various rules contained in the Income Tax Act (Canada). Silver Wheaton stated that "The Proposal outlines CRA's position that the transfer pricing provisions of the Income Tax Act (Canada) relating to income earned by our foreign subsidiaries outside of Canada should apply such that the income of Silver Wheaton subject to tax in Canada should be increased for the 2005 to 2010 taxation years (the "Relevant Taxation Years") by approximately Cdn$715 million (US$567 million). The issuance of the Proposal does not require the Company to pay any amount to the CRA at this time.

Management believes that the Company has filed its tax returns and paid applicable taxes in compliance with Canadian tax law. Silver Wheaton intends to vigorously defend its tax filing positions and is now in the process of preparing its response to the Proposal."

Following this news, shares of $1.45 or 8.27% during intraday trading to trade at $16.09 on July 7, 2015.

If you are aware of any facts relating to this investigation, or purchased shares of Silver Wheaton, you can assist this investigation by contacting Peretz Bronstein or his Investor Relations Coordinator Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email [email protected]. Those who inquire by e-mail are encouraged to include their mailing address, email and telephone number.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman 212-697-6484
[email protected]

SOURCE Bronstein, Gewirtz & Grossman, LLC