TORONTO--(BUSINESS WIRE)--Morganti & Co., P.C., a cross border shareholder’s rights law firm; announces that a shareholder class action lawsuit against Golden Star Resources, Ltd. (“GSC”), a company based in Toronto, Ontario, Canada, with gold mines in Ghana, Africa, has been advanced in the U.S. federal district court in California. GSC lists its equity securities on the NYSE, Toronto Stock Exchange, and Ghana Stock Exchange.
Investors have alleged that GSC published investor core documents, such as quarterly management discussion and analysis, containing misrepresentations of material fact, a defined term as reflected in Wong v. Pretium Resources, Inc., 2017 ONSC 3361, e.g., a fact that would significantly alter the total mix of information provided to investors in the particular news release from the perspective of a reasonable investors and not management.
The investors allege that these misrepresentations resulted in the market price and value of GSC's securities being artificially inflated or otherwise over-valued as reflected by a portion of the drop in the market price after the release of the corrective disclosures on July 31, 2019.
Investors that purchased GSC’s securities may have an opportunity to recover their financial losses.
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Our law firm represents investors in litigation against Allied Nevada Gold Corp. (n/k/a, Hycroft Mining Corp.), Ithaca Energy, Goldcorp Inc., Guyana Goldfields, North American Palladium Ltd. (n/k/a Impala Canada Ltd.) and Pretium Resources, Inc. We understand shareholder litigation against mining companies.
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