NAK.US
id: 756
Northern Dynasty Minerals (NAK) $6.4M Shareholder Settlement
E.D. New York
Court1:20-cv-05917
Case number21 Dec 2017
Class period Start24 Nov 2020
Class period End14 Dec 2023
Claim deadlineNorthern 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
Disbursement
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
04 December 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
07 December 2023
Exclusion deadline
16 November 2023
Objection deadline
16 November 2023
Hearing deadline
16 November 2023
Attorney fee
$0.02
Trades matching type
FIFO
Disbursement date
29 August 2024
+$6,375,000
Cash Settlement Amount