On March 15, 2024, Siskinds LLP filed a proposed securities class action against Endeavour Mining plc (TSX: EDV) (“Endeavour”), their former Chief Executive Officer, Sébastien de Montessus, and other defendants. Siskinds LLP is acting together with co-counsel Kalloghlian Myers LLP.
Endeavour is a mining company that owns and operates gold mines in West Africa. The class action alleges, among other things, that Endeavour Mining made misrepresentations and omissions about an irregular payment to a third party related to the sale of the Agbaou mine in 2021.
Endeavour investors launch class action over CEO payment scandal
The plaintiffs allege that the misrepresentations were corrected on January 4, 2024, when Endeavour announced the termination of Sébastien de Montessus after an investigation into an irregular payment instruction of $5.9 million and on March 27, 2024, when Endeavour disclosed further irregular payments (among other things).
The proposed class action lawsuit is brought on behalf of investors who acquired Endeavour securities between May 1, 2019, and March 27, 2024.
Join the Endeavour Mining class action today
If you would like to be updated on case developments in the Endeavour Mining class action, please click “join” above and complete the form. Your information will be held in strict confidence. By completing the form, you are not retaining Siskinds LLP, nor do you incur any obligations in connection with the Action.
Developments
Siskinds LLP and Kalloghlian Myers LLP are preparing the plaintiffs’ materials in support of the motion for leave and certification under the Securities Act and the Class Proceedings Act. The motion for leave and certification is set to be heard over the course of three days from June 23rd to 25th 2026.
As the litigation progressed, pleadings were consolidated through a series of amendments to ensure all claims, parties, and allegations were advanced in a single proceeding. A Fresh as Amended Statement of Claim was filed on February 7, 2025.
Two parallel proposed class actions were initially commenced concerning the same alleged misconduct by Endeavour Mining. Kalloghlian Myers LLP issued the first claim on behalf of Alan Newsome on March 11, 2024. Separately, Siskinds LLP commenced a claim on behalf of Carson Wong on March 15, 2024. Because the actions advanced substantially overlapping allegations, defendants, class periods, and relief sought, the firms agreed to coordinate their efforts and pursue the matter jointly.
FAQs
Can I join the class action against Endeavour Mining?
There are no steps required to “join” the class action against Endeavour Mining. Assuming you fall within the scope of the class definition, you are automatically included in the class action unless you “opt-out” (exclude yourself from the class action) after the lawsuit has been certified as a class action. Notices will be issued to the affected persons after the court certifies the class action.
Can I opt-out of the Endeavour Mining class action?
Once the class action has been authorized or certified, you will have the opportunity to opt-out of the Endeavour Mining class action within a period of time to be determined by the Court. If you exclude yourself, you will not be entitled to any compensation awarded under a settlement agreement or court order. You may however pursue your own legal action on an individual basis.
Generally, class members will wish to exclude themselves from a class action if they intend to bring their own individual action. In the majority of cases, it will be more economical to participate in the class action because the legal costs will be shared among a very large number of people.
What should I do to protect my rights?
To protect your rights, you should:
- Keep records of any purchases and sales of the common shares or other securities of Endeavour Mining between May 1, 2019, and March 27, 2024.
- While the class action against Endeavour Mining is pending, notices will be disseminated to the class members advising that they should take certain steps by specific deadlines in order to preserve their rights. This information will also be made available on Siskinds’ website. These deadlines will usually be fixed by the courts, and will need to be adhered with in order to protect your rights.
- Register to receive updates on the Endeavour Mining class action by clicking “join” above and filling out the form.
I still have a question. Who should I contact?
For answers to common questions about class actions in Canada, such as timelines, eligibility, and settlement information, please visit our Class Action Lawsuit FAQ page.
If you have any other questions about the Endeavour Mining case, please email us at [email protected] or contact us by phone at 519.672.2121 or toll free at 1.800.461.6166.
Documents
Fresh as Amended Statement of Claim - Filed February 7, 2025