| COMPANY |
Gatos Silver, Inc. |
| COURT |
United States District Court for the District of Colorado |
| CASE NUMBER |
22-cv-00453 |
| JUDGE |
The Honorable Philip A. Brimmer |
| CLASS PERIOD |
October 28, 2020 - January 25, 2022 |
| SECURITY TYPE |
All Securities |
Case Background:
A class action lawsuit has been filed on behalf of those who purchased or acquired Gatos Silver, Inc. (“Gatos”) (NYSE: GATO): (1) common stock pursuant and/or traceable to the Registration Statement issued in connection with Gatos’ initial public offering (the “IPO” or “Offering”) conducted on or about October 28, 2020; and/or (2) securities between October 28, 2020 and January 25, 2022, inclusive (the “Class Period”).
The complaint alleges that in the Registration Statement and throughout the Class Period, the Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about Gatos’ business, operations, and prospects. Specifically, the complaint alleges that the defendants failed to disclose to investors that: (1) the technical report for Gatos’s primary mine, the Cerro Los Gatos deposit, contained certain errors; (2) among other things, the mineral reserves had been overestimated by as much as 50%; and (3) as a result of the foregoing, the defendants’ positive statements about Gatos’ business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Current Status of Case:
On February 29, 2024, the Court issued an Order granting Plaintiffs’ Unopposed Motion for Preliminary Approval of Class Settlement. A Final Settlement Hearing is scheduled for May 31, 2024.
The deadline to file a claim is June 19, 2024. If you have any questions or need further information about this settlement, you may go to the following website, www.gatossecuritieslitigation.com, or you can contact the claims administrator, Epiq Class Action & Claims Solutions, Inc. at 1-877-757-6172.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453 or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.