NEW YORK, March 8, 2022 /PRNewswire/ — Pomerantz LLP Investigating Claims on Behalf of Gatos Silver, Inc Investors. (“Gatos” or the “Company”) (NYSE: GATO). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation focuses on whether Gatos and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.
At January 25, 2022post-marketing, Gatos issued a press release revealing that “[d]during the process of updating the company’s resources and reserves for the Los Gatos Joint Venture (“LGJV”). . . the Company concluded that there were errors in the technical report entitled “Los Gatos Project, Chihuahua, Mexico‘ with an effective date July 1, 2020 (the “2020 Technical Report”), as well as indications that there is an overstatement in the existing resource model.” As a result, “[o]On a preliminary basis, the Company estimates a potential reduction in the metal content of the CLG Mineral Reserve ranging from 30% to 50% of the metal content remaining after depletion” and indicated that “the resource and reserve estimates minerals in the 2020 technical report should not be invoked. »
At this news, the Gatos share price plummeted $7.02 per share, or 68.89% to close at $3.17 per share on January 26, 2022.
Pomerantz LLP, with offices in new York, Chicago, Los Angeles, Parisand Tel Aviv, is recognized as one of the leading law firms in the areas of corporate litigation, securities and antitrust. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he established, fighting for the rights of victims of securities fraud, breaches of fiduciary duty and corporate misconduct. The firm recovered numerous multimillion-dollar damages on behalf of class members. To see www.pomlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP