Dyer & Berens LLP Files Class Action on Behalf of Certain Kinross Gold Corporation Shareholders; Encourages Large Investors t...
March 15 2012 - 2:12PM
Marketwired
Dyer & Berens LLP (www.DyerBerens.com) today announced that it
has filed a class action lawsuit in the United States District
Court for the Southern District of New York on behalf of purchasers
of the common stock of Kinross Gold Corporation (NYSE: KGC) between
February 16, 2011 and January 17, 2012, inclusive (the "Class
Period").
What actions may I take at this time? If
you purchased shares during the Class Period and wish to serve as a
lead plaintiff, you must request appointment by the court no later
than April 16, 2012. A "lead plaintiff" works
with counsel to direct the litigation and participates in important
decisions, including the amount of compensation to accept in
settlement of the class action. Members of the putative class may
move the court to serve as lead plaintiffs through counsel of their
choice, or may choose to do nothing and remain absent class
members.
If you would like to discuss this action, the lead plaintiff
process, or have any questions concerning this notice, please
contact plaintiff's counsel, Jeffrey A. Berens, Esq., at (888)
300-3362 x302 or via email at jeff@dyerberens.com.
What are the allegations in the complaint?
The complaint contains allegations that, during the Class Period,
defendants issued materially false and misleading statements
regarding the company's business and prospects. Specifically, the
true facts, which were known by the defendants but concealed from
the investing public during the Class Period, were as follows: (a)
that the drilling results at the Kinross Tasiast property had
exhibited high amounts of low-grade ores and that because of this
the company would need to modify its mining processes to help
minimize operating costs and maximize profitability; (b) that, as a
result of the foregoing circumstances, applicable accounting
standards required the company to record an impairment in the value
of goodwill that Kinross attributed to the Tasiast property; (c)
that the company's financial statements were not fairly presented
in conformity with International Financial Reporting Standards and
were materially false and misleading; and (d) defendants lacked a
reasonable basis for their positive statements about the company,
its business prospects and the Tasiast property during the Class
Period. Based upon the foregoing, the complaint charges the company
and certain of its officers with violations of the Securities
Exchange Act of 1934.
About Dyer & Berens LLP. The plaintiff
is represented by Dyer & Berens LLP. The firm's extensive
experience in securities litigation, particularly in cases brought
under the Private Securities Litigation Reform Act, has contributed
to the recovery of hundreds of millions of dollars for aggrieved
investors.
Contact: Jeffrey A. Berens Dyer & Berens LLP 303 East 17th
Avenue, Suite 300 Denver, CO 80203 Tel: (888) 300-3362 x302 Email:
Email Contact Website: www.DyerBerens.com
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