This action relates to allegations that Eastern Platinum Ltd. ("Eastern Platinum") and certain of its current and former officers and directors negligently failed to disclose, as required by securities laws, material information about the interruption of its operations at the Crocodile River Mine on or about January 2011. The Crocodile River Mine had been Eastern Platinum’s only producing minor and major asset and is located in the Bushveld Complex, South Africa.
Developments
An application for leave of the court to commence an action under Part XXIII.1 of the Securities Act was heard in September 2015. On March 31, 2016 the court dismissed the Applicant’s motion for Securities Act Leave.