On March 25, 2024, Siskinds LLP commenced a proposed securities class action lawsuit in the Supreme Court of British Columbia against SSR Mining Inc. and other defendants.
SSR Mining (TSX, NASDAQ: SSRM; ASX: SSR) is a publicly traded precious metals producer incorporated in British Columbia. Its flagship asset is the Çöpler Mine in Türkiye. On February 13, 2024, SSR Mining announced that a large slip, similar to a large landslide, had occurred at the Çöpler Mine, resulting in the suspension of operations at the mine. This incident led to the immediate suspension of mining operations and raised investor concerns regarding the Çöpler Mine's sustainability, the financial impact on SSR, and disclosure practices under securities regulations.
SSR Mining faces allegations of financial misrepresentation
The plaintiff alleges that SSR Mining made misrepresentations about the Çöpler Mine, resulting in losses to investors.
The proposed class action is brought on behalf of investors who acquired SSR Mining securities between March 30, 2021, and February 27, 2024. It seeks to protect investors affected by alleged material misstatements and omissions related to the company's mining operations.
Stay updated on the SSR Mining class action
If you would like to be updated on developments in the SSR 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 as your legal representation, nor do you incur any obligations in connection with the class action.
For inquiries, please email us at [email protected]. For telephone inquiries, please call 1.800.461.6166.
FAQs
Can I join the SSR Mining class action?
There are no steps required to “join” the SSR Mining class action. 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 class action?
Once the class action has been authorized or certified, you will have the opportunity to opt-out of the 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 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 SSR Mining from March 30, 2021 onwards.
- While the class action 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 this class by clicking “join” above and filling out the form.
I still have questions. 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, please email us at [email protected] or contact us by phone at 519.672.2121 or toll free at 1.800.461.6166.