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SSRM.US
id: 1143

SSR Mining (SSRM) Copler mine and Safety Measures Issues Case

D. Colorado
Court
1:24-cv-00739
Case number
23 Feb 2022
Class period Start
27 Feb 2024
Class period End
17 May 2024
Lead Plaintiff motion deadline
  • $SSRM stockholder filed a claim vs. SSR Mining for overstating their safety commitment while using unsafe mining methods.
  • On February 13, 2024, news of the Copler mine and Reuters article caused $SSRM to fall 54%, losing $1B+ in shareholder value.
On February 13, 2024, SSR Mining said it would halt operations at its Copler mine due to a significant slip on the heap leach pad.

On the same day, Reuters released an article titled "SSR Mining halts gold production in Turkey after landslide, shares tank."
  • It was reported that "SSR Mining suspended production at a mine in eastern Turkey after a landslide, with at least nine miners missing."
$SSRM plummeted by almost 54% following the news.

On February 18, 2024, SSR Mining admitted that some of their team members are facing charges regarding the recent incident.

$SSRM dropped over 8% in response to this news.

On February 27, 2024, SSR Mining's Chairman, Rodney P. Antal, stated that six personnel were detained and facing charges related to the incident.
  • Antal also mentioned that "the Copler incident will impact our 2024 financial results."
On this news $SSRM dropped by nearly 8%.

Based on these events, $SSRM stockholder filed a claim against SSR Mining and its leaders, accusing them of the following:
  • SSR Mining overstated their dedication to safety and the effectiveness of the safety measures.
  • SSR Mining used unsafe mining methods that could cause a disaster.
Considering all the representations, investors have reasons to suspect that SSR Mining overstated their safety commitment while using unsafe mining methods.
Alleged Offence
Mismanagement
Misleading Statements
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
13 February 2024
Filing date
18 March 2024
Lead Plaintiff Deadline
17 May 2024
Collecting participants…

SSR Mining Inc

SSR Mining Inc., together with its subsidiaries, engages in the operation, acquisition, exploration, and development of precious metal resource properties in the United States, Türkiye, Canada, and...

    Ticker
    SSRM.US
    ISIN
    CA7847301032
    CIK
    921638
    Sector
    Basic Materials
    Industry
    Gold
    Country
    USA
    Address
    6900 East Layton Avenue, Denver, CO, United States, 80237