RADNOR, Pa., Aug. 31, 2016 /PRNewswire/ -- The law firm of Kessler Topaz Meltzer & Check, LLP announces that a shareholder class action lawsuit has been filed against Goldcorp, Inc. (NYSE: GG) (TSX:G) ("Goldcorp" or the "Company") on behalf of purchasers of the Company's securities between March 31, 2014 and August 24, 2016, inclusive (the "Class Period").
Investors who purchased Goldcorp securities during the Class Period may, no later than October 24, 2016, petition the Court to be appointed as a lead plaintiff representative of the class. For additional information please visit https://www.ktmc.com/new-cases/goldcorp-inc#join.
Goldcorp shareholders who wish to discuss this action and their legal options are encouraged to contact Kessler Topaz Meltzer & Check, LLP (Darren J. Check, Esq., D. Seamus Kaskela, Esq. or Adrienne O. Bell, Esq.) at (888) 299-7706 or at firstname.lastname@example.org.
Goldcorp is engaged in the acquisition, exploration, development, and operation of precious metal properties in Canada, the United States, Mexico, and Central and South America. The Peñasquito gold-silver-lead-zinc mine (the "Peñasquito Mine") is wholly-owned by Goldcorp, and is considered by Goldcorp to be a material mineral property.
The shareholder class action complaint alleges that Goldcorp and certain of its executive officers made a series of false and misleading statements and/or failed to disclose to investors during the Class Period that: (i) levels of the mineral selenium rose in one groundwater monitoring well near the Peñasquito Mine as early as October 2013; (ii) in October 2014, Goldcorp reported a rise in selenium levels in groundwater to the Mexican government after the contamination near the Peñasquito Mine waste facility intensified; and (iii) in August 2016, Goldcorp told Mexican regulators that contaminated water had also been found in other areas near the Peñasquito Mine. As a result of the foregoing, the complaint alleges that Goldcorp's public statements to investors were materially false and misleading at all relevant times.
On August 24, 2016, Reuters reported that Mexican regulators were examining whether Goldcorp broke reporting or disclosure regulations in its handling of a long-running leak of contaminated water at the Peñasquito Mine.
Following this news, shares of Goldcorp fell $1.64 per share, or over 9%, to close on August 24, 2016 at $16.05 per share, on heavy trading volume.
Goldcorp shareholders may, no later than October 24, 2016, petition the Court to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. In order to be appointed as a lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class in the action. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. For additional information, or to learn how to participate in this action, please visit https://www.ktmc.com/new-cases/goldcorp-inc#join.
Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country. Kessler Topaz Meltzer & Check is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). The complaint in this action was not filed by Kessler Topaz Meltzer & Check. For more information about Kessler Topaz Meltzer & Check, please visit www.ktmc.com.
Kessler Topaz Meltzer & Check, LLP
Darren J. Check, Esq.
D. Seamus Kaskela, Esq.
Adrienne O. Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087
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SOURCE Kessler Topaz Meltzer & Check, LLP