GATOS SILVER SHAREHOLDER ALERT: CLAIMSFILER Reminds Investors with Losses in Excess of $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Gatos Silver, Inc. - GATO
NEW ORLEANS, April 8, 2022 /PRNewswire/ -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until April 25, 2022 to file lead plaintiff applications in a securities class action lawsuit against Gatos Silver, Inc. (NYSE: GATO), if they purchased the Company's securities between October 28, 2020 and January 25, 2022, inclusive (the "Class Period") and/or purchased or otherwise acquired the Company's shares pursuant to the Company's October 2020 initial public offering (the "IPO"). This action is pending in the United States District Court for the District of Colorado.
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Gatos Silver investors should visit us at https://claimsfiler.com/cases/nyse-gato or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Gatos Silver and certain of its executives are charged with failing to disclose material information during the Class Period and/or in the Registration Statement and Prospectus issued in conjunction with the initial public offering, violating federal securities laws.
On January 25, 2022, post-market, the Company revealed "errors in the technical report entitled 'Los Gatos Project, Chihuahua, Mexico' with an effective date of July 1, 2020 . . . , as well as indications that there is an overestimation in the existing resource model" and that on a preliminary basis, the Company estimated a potential reduction of the metal content of its CLG's mineral reserve ranging from 30% to 50% of the metal content remaining after depletion.
On this news, shares of Gatos Silver fell $7.02 per share, or approximately 68.9%, to close at $3.17 per share on January 26, 2022.
The case is Bilinsky v. Gatos Silver, Inc., et al., No. 22-cv-453.
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ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.
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