Teck Resources Ltd Class B press release

Grabar Law Office Investigates Claims on Behalf of Shareholders of Gatos Silver, Inc. (GATO) as Securities Fraud Class Action Settles for $21,000,000

2023-08-14

NYSE - New York Stock Exchange · Copper · Molybdenum · Zinc · Lead · Canada · Legal Matters

Philadelphia, Pennsylvania--(Newsfile Corp. - August 14, 2023) - A securities fraud class action against Gatos Silver (NYSE: GATO) and certain of its officers and directors has settled for $21,000,000. The underlying Complaint alleges that Gatos, via certain of its officers and directors, made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, it is alleged that Defendants failed to disclose to investors: (1) that the technical report for Gatos's primary mine, the Cerro Los Gatos deposit, contained certain errors; (2) that, among other things, the mineral reserves had been overestimated by as much as 50%; and (3) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Current Gatos Silver shareholders who have held Gatos Silver since on or traceable to its October 28, 2020 IPO, can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, at no cost to them.

If you would like to learn more about this matter, you are encouraged to contact us at jgrabar@grabarlaw.com, visit https://grabarlaw.com/the-latest/gatos-silver-shareholder-investigation/, or call 267-507-6085.

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Contact: Joshua H. Grabar, Esq. Grabar Law Office One Liberty Place 1650 Market Street, Suite 3600 Philadelphia, PA 19103 Tel: 267-507-6085 Email: jgrabar@grabarlaw.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/177081