Court File No.: CV-14-50851300-CP
SUPERIOR COURT OF JUSTICE
LBP HOLDINGS LTD.
ALLIED NEVADA GOLD CORP., SCOTT A. CALDWELL, ROBERT M. BUCHAN, CORMARK SECURITIES INC., and DUNDEE SECURITIES LIMITED.
Proceeding under the Class Proceedings Act, 1992
THE DEADLINE TO SUBMIT A CLAIM FORM WAS 5:00 PM EST ON DECEMBER 4, 2021
THE ONLINE CLAIMS ADMINISTRATION PORTAL IS NOW CLOSED
FOR THE COMPLETION AND SUBMISSION OF CLAIM FORMS.
THE CLASS ACTION SETTLEMENT WAS APPROVED BY THE COURT ON JULY 30, 2021
On August 14, 2014, a proposed class action was commenced on behalf of investors who purchased shares pursuant to a secondary public offering in the Ontario Superior Court: LBP Holdings Ltd. v. Allied Nevada Gold Corp., Scott A. Caldwell, Robert M. Buchan, Cormark Securities Inc., and Dundee Securities Limited, brought in the Court under Court File No. CV-14-50851300-CP (the " Action"). The Plaintiff in the Action alleges that the Defendant made misrepresentations related to a short-form prospectus dated May 9, 2013.
The substance of the litigation (i.e. that the Defendants made misrepresentations in a 2013 short-form prospectus (the “Prospectus”) released May 9, 2013 concerning a secondary public offering) has not been adjudicated by the Court. The Defendants deny the allegations.
This lawsuit alleges that the Prospectus contained misrepresentations about the Company’s business and operations at its Hycroft Mine. The lawsuit further alleges that when the Company issued statements correcting these misrepresentations on July 22, and August 6 and 7, 2013, the price of Hycroft’s stock declined to reflect the true state of events, thereby harming Class Members.
The Settlement Agreement may be viewed In the Documents section of this website.
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