Kirkland Lake Gold Ltd. is facing a class action lawsuit alleging that the Company made materially false and/or misleading statements and/or failed to disclose that: (i) Kirkland lacked adequate internal controls over financial reporting, especially as it relates to its projections of risks, reserve grade, and all-in sustaining costs; (ii) as a result of the known, but undisclosed, impending acquisition of Detour, the Company’s projections relating to its risks, reserve grade, and all-in sustaining costs were false and misleading; (iii) the Company’s financial statements and projections were not fairly presented in conformity with International Financial Reporting Standards; (iv) based on the foregoing, Defendants lacked a reasonable basis for their positive statements about the Company’s business, operations, and prospects and/or lacked a reasonable basis and omitted material facts.
If you incurred a loss on KL stocks purchased between January 8, 2018 and November 25, 2019, this lawsuit is on your behalf. The lawsuit was filed in the United States District Court for the Southern District of New York, and our firm is reaching out to investors to discuss their legal rights.
If you wish to act as a representative of the shareholders harmed by this misconduct, you may ask the court to appoint you as lead plaintiff. A lead plaintiff directs the litigation and participates in important decisions, including whether to accept a settlement for the class in the action.
You only have until August 28, 2020 to apply to be lead plaintiff. The court will then evaluate the applicants and choose a lead plaintiff. You are not required to act as a lead plaintiff in order to participate in any recovery.
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