Levi & Korsinsky Alerts Newmont Corporation Investors on Class Action Lawsuit with Upcoming Deadline
On February 4, 2025, Levi & Korsinsky, LLP, a prominent legal firm, issued an important notice to investors of Newmont Corporation, indicating a pending class action securities lawsuit related to a significant drop in the company's stock value.
The securities class action aims to recover losses for shareholders impacted by claims of securities fraud that allegedly spanned from February 22, 2024, to October 23, 2024. During this period, Newmont, listed on the NYSE under the ticker NEM, faced various operational challenges that led to the current legal action.
The lawsuit stems from a press release published by Newmont on October 23, 2024. In it, the company disclosed disappointing financial metrics, particularly concerning its third-quarter earnings before interest, tax, depreciation, and amortization (EBITDA). It revealed declines in production levels and increases in operational costs, details that seem to have shocked investors. As a result of this announcement, Newmont's shares plummeted from $57.74 to $49.25 in one day, erasing substantial market value overnight.
Prior to this announcement, investors had been led to believe that Newmont's production targets were on track. However, the company disclosed that two of its Tier 1 assets would not meet the expected production goals and would incur higher costs than previously communicated. This turn of events raised considerable concern about the company's operational stability and financial forecasting, prompting the investors to take legal action.
Investors who incurred losses during the specified timeframe have until April 1, 2025, to file a request to be appointed as lead plaintiffs in the class action lawsuit. It is crucial to note that participating in this class doesn't obligate one to serve as a lead plaintiff, as recovery can still be sought as a class member.
For investors seeking more information about their legal rights or who wish to join the lawsuit, Levi & Korsinsky offers various avenues for assistance. Interested parties can reach out to attorney Joseph E. Levi directly via email or phone.
It's important to clarify that there are no out-of-pocket expenses for class members who participate. Their ability to seek compensation will not depend on any upfront fees or costs. This arrangement alleviates financial burdens for those who may wish to pursue a claim against Newmont Corporation in pursuit of recovering losses connected to this alleged fraud.
Levi & Korsinsky has established a formidable reputation over the last two decades in the field of complex securities litigation. The firm boasts a successful history of securing hundreds of millions in compensation for shareholders harmed by corporate misconduct. With a dedicated team of over 70 professionals, the firm consistently ranks as one of the top securities litigation firms in the United States, according to the ISS Securities Class Action Services' annual report.
In conclusion, affected shareholders of Newmont Corporation are advised to pay close attention to these proceedings, as the upcoming deadlines and legal developments may offer opportunities for restitution following significant losses. Those interested should act promptly to consider joining this crucial class action lawsuit, ensuring they don’t miss the chance for potential recovery.
Lawsuit Overview
The securities class action aims to recover losses for shareholders impacted by claims of securities fraud that allegedly spanned from February 22, 2024, to October 23, 2024. During this period, Newmont, listed on the NYSE under the ticker NEM, faced various operational challenges that led to the current legal action.
Background of the Case
The lawsuit stems from a press release published by Newmont on October 23, 2024. In it, the company disclosed disappointing financial metrics, particularly concerning its third-quarter earnings before interest, tax, depreciation, and amortization (EBITDA). It revealed declines in production levels and increases in operational costs, details that seem to have shocked investors. As a result of this announcement, Newmont's shares plummeted from $57.74 to $49.25 in one day, erasing substantial market value overnight.
Prior to this announcement, investors had been led to believe that Newmont's production targets were on track. However, the company disclosed that two of its Tier 1 assets would not meet the expected production goals and would incur higher costs than previously communicated. This turn of events raised considerable concern about the company's operational stability and financial forecasting, prompting the investors to take legal action.
Next Steps for Affected Investors
Investors who incurred losses during the specified timeframe have until April 1, 2025, to file a request to be appointed as lead plaintiffs in the class action lawsuit. It is crucial to note that participating in this class doesn't obligate one to serve as a lead plaintiff, as recovery can still be sought as a class member.
For investors seeking more information about their legal rights or who wish to join the lawsuit, Levi & Korsinsky offers various avenues for assistance. Interested parties can reach out to attorney Joseph E. Levi directly via email or phone.
No Financial Risk to Class Members
It's important to clarify that there are no out-of-pocket expenses for class members who participate. Their ability to seek compensation will not depend on any upfront fees or costs. This arrangement alleviates financial burdens for those who may wish to pursue a claim against Newmont Corporation in pursuit of recovering losses connected to this alleged fraud.
Levi & Korsinsky’s Track Record
Levi & Korsinsky has established a formidable reputation over the last two decades in the field of complex securities litigation. The firm boasts a successful history of securing hundreds of millions in compensation for shareholders harmed by corporate misconduct. With a dedicated team of over 70 professionals, the firm consistently ranks as one of the top securities litigation firms in the United States, according to the ISS Securities Class Action Services' annual report.
In conclusion, affected shareholders of Newmont Corporation are advised to pay close attention to these proceedings, as the upcoming deadlines and legal developments may offer opportunities for restitution following significant losses. Those interested should act promptly to consider joining this crucial class action lawsuit, ensuring they don’t miss the chance for potential recovery.
Topics Financial Services & Investing）
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