February 13, 2015 - The court approved the settlement, entered the orders approving the plan of allocation, the motion for attorneys’ fees and expenses, and dismissed the action with prejudice.
January 22, 2015 - The court held a final settlement hearing.

October 6, 2014 - The court preliminarily approved the settlement.

May 12, 2014 - Parties filed a stipulation of settlement.

September 27, 2013 - The court denied defendants' motion to dismiss.

November 7, 2012 - Defendants filed a motion to dismiss.

August 21, 2012 - The lead plaintiff filed an amended consolidated complaint.

June 28, 2012 - Lead plaintiff and lead counsel were appointed and all cases were consolidated.

May 14, 2012 - Lead plaintiff motion was filed.

March 13, 2012 - An investor in shares of Nevsun Resources (NYSEAMEX: NSU) shares filed a lawsuit in the U.S. District Court for the Southern District of New York against Nevsun Resources over alleged violations of Federal Securities Laws in connection with certain financial statements over its Bisha mine in Eritrea between March 31, 2011 and February 6, 2012.

According to the complaint the plaintiff alleges on on behalf of purchasers of the common shares of Nevsun Resources (NYSEAMEX: NSU) during the period March 31, 2011 through February 6, 2012, that Nevsun Resources Violated the Securities Exchange Act of 1934 by issuing materially false and misleading statements.

Nevsun Resources reported that its quarterly Revenue in 2011 increased from $53.53 million in the first quarter to $134.66 million in the second quarter and $185 million in the third quarter and that its quarterly Net Income in 2011 increased from $11.80 million to $35.29 million to $53.32 million.

Shares of Nevsun Resources (NYSEAMEX: NSU) rose from as low as $0.41 per share in October 2008 to as high as $7.53 per share in the end of December 2010. Shares of Nevsun Resources were able to stay above $5 per share for the most part of 2011.

Specifically, the plaintiff alleges that Nevsun Resources failed to disclose that its mining at the Bisha Mine resulted in a material amount of waste rock, rather than gold ore and that gold ore and gold from the Bisha Mine was materially less than the amount estimated by its model and defendants knew or had reason to know this based on data routinely collected from the Bisha Mine March 31, 2011 and February 6, 2012, that Nevsun Resources was progressing through the ore body much more quickly than planned in order to maintain gold production at a rate that would not reveal to investors that the amount of gold at the Bisha Mine was materially less than its model; that Nevsun Resources was aware that its model was materially defective because the actual amounts of gold mined at Bisha did not reconcile with its model previously disseminated to the investing public; and that Nevsun Resources materially overstated its gold reserves at the Bisha mine.

Then on February 7, 2012, Nevsun Resources announced its 2012 outlook for planned gold production of 190,000 to 210,000 ounces from the Bisha mine in Eritrea.

Following the announcement multiple news sources reported that Nevsun Resources had cut its 2012 gold production guidance in half.

According to one article Nevsun Resources is matching what it mined in 2011 to what it had modeled in reserves a discrepancy began to emerge last year and that much of what Nevsun Resources had pegged as gold bearing ore turned out to be waste rock in the upper oxide zone at Bisha.

Shares of Nevsun Resources (NYSEAMEX: NSU) fell from $6.65 on February 2, 2012 to $4.17 on February 8, 2012.