NEW YORK, March 26, 2022 (GLOBE NEWSWIRE) -- Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, announces the filing of a securities class action on behalf of investors who purchased or otherwise acquired common stock of Gatos Silver Inc. (“Gatos” or “Company”) (NYSE: GATO) between October 28, 2020 and January 25, 2022, inclusive (the "Class Period"). If you lost more than $300,000 in Gatos, you should contact the Firm.
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.
If you wish to serve as Lead Plaintiff for the Class, you must file a motion with the Court no later than April 25, 2022. Any member of the proposed Class may serve as the Lead Plaintiff through counsel of their choice. You may obtain additional information about this lawsuit and your ability to become a Lead Plaintiff by contacting our attorneys at investigations@lowey.com or at 914-733-7256.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.
Contact
Lowey Dannenberg P.C.
44 South Broadway, Suite 1100
White Plains, NY 10601
Tel: (914) 733-7256
Email: investigations@lowey.com
