Shareholder Alert: Robbins LLP Reminds Investors Golden Star Resources Ltd. (GSS) Sued for Misleading Shareholders
May 07 2020 - 6:26PM
Business Wire
Shareholder rights law firm Robbins LLP reminds investors that a
purchaser of Golden Star Resources Ltd. (NYSE: GSS) filed a class
action complaint against the Company for alleged violations of the
Securities Exchange Act of 1934 between February 20, 2019 and July
30, 2019. Golden Star is a mid-tier gold mining company with
operating mines in Ghana. Golden Star's revenue is generated
through its two underground mines called Wassa and Prestea.
If you suffered a loss as a result of Golden Star's misconduct,
click here.
Golden Star Resources Ltd. (GSS) Accused of Misleading
Shareholders
According to the complaint, in February 2019, Golden Star
claimed it was seeing "tremendous improvement" in operational
metrics and performance of the Prestea mine and that "blasting"
issues had been rectified. Following these positive
representations, Golden Star continuously provided optimistic
guidance on the Company's production goals, the quality and grade
of that production, as well as the cost per ounce of that
production for both Prestea and Wassa throughout the relevant
period. Contrary to Golden Star's representations, on July 31,
2019, Golden Star released disappointing second quarter financial
results, disclosing a cut to the Company's production guidance and
an increase in its cash operating cost estimates. Golden Star cited
a laundry list of issues for its poor financial performance,
including the use of insufficient geological and geotechnical data
and poor drilling strategies and techniques. On this news, Golden
Star's stock price fell 17% to close at $3.55.
Golden Star Resources Ltd. (GSS) Shareholders Have Legal
Options
Contact us to learn more: Leo Kandinov (800) 350-6003
lkandinov@robbinsllp.com Shareholder Information Form
Robbins LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional
investors in shareholder derivative and securities class action
lawsuits, and has helped its clients realize more than $1 billion
of value for themselves and the companies in which they have
invested. Click here to receive free alerts from Stock Watch when
companies engage in wrongdoing.
Attorney Advertising. Past results do not guarantee a similar
outcome.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200507006203/en/
Leo Kandinov Robbins LLP 5040 Shoreham Place San Diego, CA 92122
lkandinov@robbinsllp.com (619) 525-3990 or Toll Free (800) 350-6003
www.robbinsllp.com
Golden Star Resources (AMEX:GSS)
Historical Stock Chart
From Aug 2024 to Sep 2024
Golden Star Resources (AMEX:GSS)
Historical Stock Chart
From Sep 2023 to Sep 2024