GEO investors may receive additional information about the case by clicking the link "Join this Class Action" above.
According to the complaint, Goldcorp engages in the acquisition, exploration, development, and operation of precious metal properties in Canada, the United States, Mexico, and Central and South America. The company primarily explores for gold, silver, lead, zinc, and copper.
The complaint alleges that the defendants made false and/or misleading statements during the Class Period and/or failed to disclose that: (1) levels of the mineral selenium rose in one groundwater monitoring well near the Peñasquito Mine as early as October 2013; (2) in October 2014, Goldcorp reported a rise in selenium levels in groundwater to the Mexican government after the contamination near the Peñasquito Mine waste facility intensified; (3) in August 2016, Goldcorp told Mexican regulators that contaminated water had also been found in other areas near the Peñasquito Mine; and (4) as a result, Goldcorp’s public statements were materially false and misleading at all relevant times.
The Class Period commences on March 31, 2014, during aftermarket hours, when the company filed a Form 40-F for the fiscal year ended December 31, 2013.
According to the complaint, on August 24, 2016, Reuters published an article entitled “Exclusive: Goldcorp struggles with leak at Mexican mine”, stating that Mexican regulators were examining whether Goldcorp broke any regulations in its handling of a long-running leak of contaminated water at the Peñasquito Mine.
Following this news, shares of Goldcorp fell $1.64 per share or approximately 9% from its previous closing price to close at $16.05 per share on August 24, 2016, damaging investors.
GEO shareholders may, no later than October 24, 2016, petition the Court to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check or other counsel, or may choose to do nothing and remain an absent class member.
A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. In order to be appointed as a lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class in the action. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.
Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country. Kessler Topaz Meltzer & Check is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). The complaint in this action was not filed by Kessler Topaz Meltzer & Check. For more information about Kessler Topaz Meltzer & Check, or for additional information about participating in this action, please visit http://www.ktmc.com/.
Kessler Topaz Meltzer & Check, LLP
Darren J. Check, Esq.
D. Seamus Kaskela, Esq.
Adrienne O. Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087
(888) 299 - 7706
(610) 667 - 7706
or by email at firstname.lastname@example.org