Golden Star Resources Ltd.
Lead Plaintiff Deadline: 06/01/2020
SUMMARY OF CASE:
A securities class action has been filed against Golden Star Resources Ltd. (GSS) on behalf of purchasers of the securities of Golden Star between February 20, 2019 through July 30, 2019. This case has been filed in the USDC – C.D.Cal.
The Complaint alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the Company had insufficient geological and geotechnical data in its Prestea mine; (2) the Company had experienced deficiencies in its operating practices and mining methods including inaccurate long hole drilling and blasting in its Prestea mine; (3) the Company did not have the mining flexibility and more measured resources to ensure higher reserve grade; (4) the Company had experienced increased tonnage at much lower grade where it had to supplement some of the production with oxide material; (5) the Company had excessive dilution which drove lower mining rates at the Prestea mine; and (6) as a result, defendants’ public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.