GATOS SILVER, INC. UPDATE: Berger Montague Investigates Securities Fraud Allegations Against Gatos Silver, Inc. (NYSE: GATO); Lead Plaintiff Deadline is April 25, 2022
PHILADELPHIA, April 4, 2022 /PRNewswire/ -- Berger Montague is investigating securities fraud allegations on behalf of investors who purchased the securities of Gatos Silver, Inc. ("Gatos" or the "Company") (NYSE: GATO) between October 25, 2020, and January 25, 2022 (the "Class Period"), including on or traceable to the Company's initial public offering on or about October 29, 2020.
If you purchased Gatos securities during the Class Period, would like to discuss Berger Montague's investigation, or have questions concerning your rights or interests, please contact attorneys Andrew Abramowitz at aabramowitz@bm.net or (215) 875-3015, or Michael Dell'Angelo at mdellangelo@bm.net or (215) 875-3080 or visit: https://investigations.bergermontague.com/gatos-silver/
Whistleblowers: Anyone with non-public information regarding Gatos is encouraged to confidentially assist Berger Montague's investigation or take advantage of the SEC Whistleblower program. Under this program, whistleblowers who provide original information may receive rewards totaling up to thirty percent (30%) of recoveries obtained by the SEC. For more information, contact us.
The Lawsuit: A recently filed lawsuit charges Gatos Silver and certain of its executives with failing to disclose material information during the Class Period, including in the Registration Statement and Prospectus issued in conjunction with the Company's initial public offering.
On January 25, 2022, Gatos revealed errors in the technical report regarding the Los Gatos Project in Mexico, dated July 1, 2020, as well as "indications that there is an overestimation in the existing resource model." The Company further disclosed that there was a potential reduction of the metal content in the mineral reserve ranging from 30% to 50%. On this news, Gatos shares fell $7.02 per share – nearly 69% – to close at $3.17 per share on January 26, 2022.
Berger Montague, with offices in Philadelphia, Minneapolis, Washington, D.C., and San Diego, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.
Contacts
Andrew Abramowitz, Senior Counsel
Berger Montague
(215) 875-3015
aabramowitz@bm.net
Michael Dell'Angelo, Executive Shareholder
Berger Montague
(215) 875-3080
mdellangelo@bm.net
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SOURCE Berger Montague
