SAN DIEGO, Feb. 13, 2025 (GLOBE NEWSWIRE) -- A class action lawsuit has been filed on behalf of all persons and entities who purchased or otherwise acquired Newmont Corporation (NYSE: NEM) (“Newmont” or the “Company”) securities between February 22, 2024 through October 23, 2024 (the “Class Period”), charging the Company and certain senior executives with violations of the federal securities laws (collectively, “Defendants”).
Newmont investors have until April 1, 2025 to seek appointment as lead plaintiff of the Newmont class action lawsuit.
If you purchased or acquired Newmont securities between February 22, 2024 through October 23, 2024, and suffered substantial losses, and you wish to obtain additional information or serve as lead plaintiff in this lawsuit, you may submit your information and contact us here: https://dicellolevitt.com/securities/newmont/.
You can also contact DiCello Levitt attorneys Brian O’Mara or Hani Farah by calling (888) 287-9005 or emailing investors@dicellolevitt.com. Those who inquire by email are encouraged to include their mailing address, telephone number, and the number of shares purchased.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice.
Case Allegations
Newmont is a gold mining company and producer of copper, silver, zinc, and lead. The Company has operations and/or assets in North America, Africa, Australia, Latin America and the Caribbean, and Papua New Guinea.
The Newmont lawsuit alleges Defendants misrepresented the Company’s production capabilities and cost management. Newmont repeatedly highlighted the Company’s Tier 1 portfolio and expressed confidence in delivering increased gold and mineral production while lowering costs. Moreover, Newmont minimized risks associated with operational and maintenance issues at the mines in addition to increased labor and energy costs. However, in truth, Newmont faced operational and technical challenges at several of its new Tier 1 assets, which resulted in lower production and higher costs than expected.
The truth was revealed on October 23, 2024, when Newmont published a press release announcing disappointing EBITDA for the third quarter of 2024, in addition to decreases in production and increases in operating costs. Specifically, Newmont revealed that mining operations at its two Tier 1 assets would see lower production than originally guided with expectations of higher costs at these facilities.
On this news, the price of Newmont’s common stock fell 8.49 per share, or nearly 15%.
About DiCello Levitt
At DiCello Levitt, we are dedicated to achieving justice for our clients through class action, business-to-business, public client, whistleblower, personal injury, civil and human rights, and mass tort litigation. Our lawyers are highly respected for their ability to litigate and win cases – whether by trial, settlement, or otherwise – for people who have suffered harm, global corporations that have sustained significant economic losses, and public clients seeking to protect their citizens’ rights and interests. Every day, we put our reputations – and our capital – on the line for our clients.
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