NEW YORK, April 12, 2024 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against SSR Mining Inc. (“SSR Mining” or the “Company”) (NASDAQ: SSRM) and reminds investors of the May 17, 2024 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $75,000 In SSR Mining To Contact Him Directly To Discuss Their Options
If you suffered losses exceeding $75,000 investing in SSR Mining stock or options between February 23, 2022 and February 27, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/SSRM.
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose 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’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all times. When the true details entered the market, the lawsuit claims that investors suffered damages.
On February 13, 2024, before the market opened, SSR Mining filed a current report on Form 8-K with the SEC, which stated there was a “suspension of operations at the Çöpler mine as a result of a large slip on the heap leach pad. This event occurred in the morning of February 13, 2024 at approximately 6:30 am EST, and all operations at Çöpler have been suspended as a result.”
Also on February 13, 2024, during market hours, Reuters published an article entitled “SSR Mining halts gold production in Turkey after landslide, shares tank”. This article stated, in pertinent part, that SSR Mining had suspended production “at a mine in eastern Turkey after a landslide, which left at least nine miners missing[.]”
On this news, SSR Mining’s stock fell $5.22 per share, or 53.7%, to close at $4.50 per share on February 13, 2024.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding SSR Mining’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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