Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased SSR Mining Inc. (“SSR Mining” or the “Company”) (NASDAQ: SSRM) securities between February 23, 2022 and February 27, 2024, inclusive (the “Class Period”). SSR Mining investors have until May 17, 2024 to file a lead plaintiff motion.
Investors suffering losses on their SSR Mining investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
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.
If you purchased SSR Mining securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847 or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
