Lawsuit Overview
June 19, 2019 - The court granted in part and denied in part the defendants' motion to dismiss.
October 30, 2018 - A motion to dismiss the amended consolidated complaint was filed.
August 31, 2018 - An amended consolidated complaint was filed.
June 6, 2018 - The case was transferred to the U.S. District Court for the Southern District of Nevada.
July 7, 2017 - An investor in shares of Tahoe Resources Inc (NYSE: TAHO) filed a lawsuit in the U.S. District Court for the Eastern District of New York over alleged violations of Federal Securities Laws by Tahoe Resources Inc in connection with certain allegedly false and misleading statements made between March 12, 2015 and July 5, 2017.
According to the complaint the plaintiff alleges on behalf of purchasers of Tahoe Resources Inc (NYSE: TAHO) common shares between March 12, 2015 and July 5, 2017, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between March 12, 2015 and July 5, 2017, the defendants made false and/or misleading statements and/or failed to disclose that consultation obligations relating to the permitting of the Escobal mining license were not met, that in turn, the Escobal mining license is subject to suspension, and that as a result, Tahoe Resources Inc’s public statements were materially false and misleading at all relevant times.
Reno, NV based Tahoe Resources Inc is a mine operations, and mineral exploration and development company. On July 5, 2017, Tahoe Resources Inc reported that the Company had learned of the provisional decision by the Supreme Court of Guatemala to suspend the Escobal mining license of Tahoe subsidiary Minera San Rafael. The suspension applies while the court reviews an action brought by CALAS, an anti-mining organization, against Guatemala’s Ministry of Energy and Mines (“MEM”). The action alleges that MEM violated the Xinca Indigenous people's right of consultation in advance of granting the Escobal license to Tahoe Resources Inc’s subsidiary.