Dyer & Berens LLP Files Class Action on Behalf of Certain Kinross Gold Corporation Shareholders; Encourages Large Investors to Inquire About the Upcoming Lead Plaintiff Deadline (KGC)
(firmenpresse) - DENVER, CO -- (Marketwire) -- 03/15/12 -- Dyer & Berens LLP () 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").
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 . 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 .
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.
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:
Website:
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Datum: 15.03.2012 - 18:12 Uhr
Sprache: Deutsch
News-ID 125368
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DENVER, CO
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Legal
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