LOS ANGELES, March 29, 2024 (GLOBE NEWSWIRE) — Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming May 17, 2024 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired SSR Mining Inc. (“SSR Mining” or the “Company”) (NASDAQ: SSRM) securities between February 23, 2022 and February 27, 2024, inclusive (the “Class Period”).
If you suffered a loss on your SSR Mining investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/SSR-Mining-Inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.
On February 13, 2024, SSR Mining announced that it was suspending operations at its Çöpler mine in Turkey “as a result of a large slip on the heap leach pad.” A Reuters article published later that same day specified that the mine had suspended production “after a landslide, which left at least nine miners missing.” Soon after, news reports emerged that there had been safety warnings at the mine which were “frequently ignored and inspections not adequately carried out.” Turkish Engineers stated that the “disaster that took place [at the mine] is a disaster that [was] coming.”
On this news, SSR Mining’s stock price fell $5.22, or 53.7%, to close at $4.50 per share on February 13, 2024, thereby injuring investors.
Then, on February 16, 2024, news outlets reported that eight SSR Mining employees had been “detained amid an investigation into [the] landslide.” Then, on February 18, 2024, Sky News reported that the Turkey director and senior vice president of operations of SSR Mining had also been detained.
On this news, SSR Mining’s stock price fell $0.29, or 5.9%, to close at $4.62 per share on February 20, 2024.
Then, on February 27, 2024, SSR Mining conducted its fourth quarter 2023 earnings call, stating that “the Çöpler incident will have an impact on [the Company’s] financial results in 2024.”
On this news, SSR Mining’s stock price fell $0.37, or 7.9%, to close at $4.29 per share on February 28, 2024, thereby injuring investors further.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Defendants materially overstated SSR Mining’s commitment to safety and the efficacy of its safety measures; (2) SSR Mining engaged in unsafe mining practices which were reasonably likely to result in a mining disaster; and (3) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
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If you purchased or otherwise acquired SSR Mining securities during the Class Period, you may move the Court no later than May 17, 2024 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Glancy Prongay & Murray LLP, Los Angeles
Charles Linehan, 310-201-9150 or 888-773-9224
shareholders@glancylaw.com
www.glancylaw.com
