Lawsuit Overview
October 16, 2017 - The case was dimissed.
September 28, 2017 - A notice of intent not to file a second amended complaint was filed.
September 6, 2017 - The court granted in part and denied in part defendants' motion to dismiss. The plaintiffs were given leave to amend the complaint.
January 20, 2017 - A motion to dismiss the corrected amended complaint was filed.
December 22, 2016 - A corrected amended complaint was filed.
December 8, 2016 - An amended complaint.
August 25, 2016 - An investor in shares of Goldcorp Inc (USA) (NYSE: GG) filed a lawsuit in the U.S. District Court for the Central District of California over alleged violations of Federal Securities Laws by Goldcorp Inc in connection with certain allegedly false and misleading statements made between March 31, 2014 through August 24, 2016.
According to the complaint the plaintiff alleges on behalf of purchasers of Goldcorp Inc (USA) (NYSE: GG) common shares between March 31, 2014 through August 24, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between March 31, 2014 through August 24, 2016 the defendants made allegedly false and/or misleading statements and/or failed to disclose that levels of the mineral selenium rose in one groundwater monitoring well near the Peñasquito Mine as early as October 2013, that in October 2014, Goldcorp Inc reported a rise in selenium levels in groundwater to the Mexican government after the contamination near the Peñasquito Mine waste facility intensified, that in August 2016, Goldcorp Inc told Mexican regulators that contaminated water had also been found in other areas near the Peñasquito Mine, and that as a result, Goldcorp Inc’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
Goldcorp Inc reported that its annual Total Revenue rose from over $3.43 billion in 2014 to over $4.37 billion in 2015 while its Net Loss increased from $2.17 billion in 2014 to over $4.2 billion in 2015.
On August 24, 2016, an article was published stating, among other things, that as early as October 2013, Goldcorp Inc’s Penasquito mine experienced a leak of selenium into the groundwater well near the mine.
The article stated that in October 2014, Goldcorp Inc reported a rise in selenium levels in groundwater to the Mexican government, after the contamination near its mine waste facility intensified.
The article further stated that two weeks ago, Goldcorp Inc told Mexican regulators that contaminated water had also been found in other areas of its property. According to Reuters, the leak has not been disclosed to the public until today.
Shares of Goldcorp Inc (USA) (NYSE: GG) declined from $18.07 per share on August 23, 106 to as low as $15.76 per share on August 24, 2016.