On February 3, 2025, a securities class action lawsuit was filed against Newmont Corporation, alleging that the company and its executives violated federal securities laws. The lawsuit covers a class period from February 22, 2024, to October 23, 2024.
The complaint specifically alleges that Newmont made false and/or misleading statements or failed to disclose material adverse facts concerning its ability to deliver increased gold production at its Tier 1 operations, particularly Lihir and Brucejack, and to lower overall costs throughout its mining operations.
The lawsuit points to Newmont's October 23, 2024, press release, which announced disappointing third-quarter 2024 EBITDA highlights, decreases in production, and increases in operating costs, as the trigger for the alleged misrepresentations. Following this news, Newmont's stock price reportedly fell from $57.74 per share on October 23, 2024, to $49.25 per share on October 24, 2024.
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