NAK.US

id: 756

Northern Dynasty Minerals (NAK) $6.4M Shareholder Settlement

E.D. New York

Court

1:20-cv-05917

Case number

12/21/2017

Class period Start

11/24/2020

Class period End

12/14/2023

Claim deadline

Northern Dynasty Minerals (NAK)  settles $6.375 million with investors in litigation over Pebble Project.

The Complaint alleged that NAK made false and/or misleading statements and/or failed to disclose that: 
the Company’s Pebble Project was contrary to Clean Water Act guidelines and to the public interest; 
the Company planned that the Pebble Project would be larger in duration and scope than conveyed to the public; 
As a result, the U.S. Army Corps of Engineers would deny the Company’s permit applications for the Pebble Project.

Case Status

Disbursed

Alleged Offence

Misleading Statements,

Failure to Disclose,

Omissions

Suspected Party

Directors,

Management

Security Type

Stocks

Trade Direction

Long

Payout per Share

0.02

Filing date

12/04/2020

Plaintiffs

Lawrence Kelemen, Charles Hymowitz

Attorneys

Pomerantz LLP

Defendants

Ronald W. Thiessen, Thomas C. Collier, Jr.

Judge

Hon. Eric N. Vitaliano

Administrator

EPIQ

Settlement agreement date

2023-08-24

Court hearing date

12/07/2023

Exclusion deadline

11/16/2023

Objection deadline

11/16/2023

Hearing deadline

11/16/2023

Attorney fee

$0.02

Trades matching type

FIFO

Disbursement date

08/29/2024

+$6,375,000

Cash Settlement Amount