#United States #New York #Gross Law Firm #Perpetua Resources #PPTA

The Gross Law Firm Launches Securities Class Action for Perpetua Resources Corp. Shareholders

In an important development for investors, the Gross Law Firm has officially announced the initiation of a securities class action targeting shareholders of Perpetua Resources Corp. (NASDAQ: PPTA). This action comes in response to significant allegations regarding misleading statements that may have impacted the company’s stock valuation.

Details of the Class Action

Shareholders who acquired shares of PPTA during the class action period from April 17, 2024, to February 13, 2025, are being urged to contact the Gross Law Firm for potential appointment as lead plaintiffs. It is vital to note that one does not need to be a lead plaintiff to participate in any recovery pursued through this legal action. Interested shareholders can register directly through the firm's designated web portal.

Background and Allegations

The allegations reported in the complaint center around potentially deceptive information provided by Perpetua Resources to its investors. Specifically, these statements involved the expected initial capital expenditures for the Stibnite Gold Project. According to the complaint, the defendants downplayed the implications of inflation and various unforeseen factors which could inflate costs related to the project.

Significantly, on February 13, 2025, Perpetua made public a revised cash flow model for the Stibnite Gold Project that revealed additional capital expenses totaling approximately $952 million. This amount represents a staggering increase of over 75% from what had previously been communicated to investors, far exceeding the anticipated 10-20% increases discussed by the defendants beforehand.

The causes for this abrupt escalation in costs were attributed to several factors, including inflation, indirect expenses, higher mining costs, and deliberate decisions made by the company's management. Notably, this included a shift from timber to steel for electrical poles and opting for a buy-and-build strategy instead of leasing an oxygen plant.

As a result of these revelations, Perpetua's stock experienced a drastic price decline. Closing at $11.97 per share on February 13, it plummeted to $9.29 per share the following day, marking a decline of approximately 22.39% within a mere 24 hours.

Registration Deadline for Shareholders

Affected shareholders are encouraged to take prompt action as the deadline to register for participation in this class action is set for May 20, 2025. By registering, shareholders will gain access to portfolio monitoring software that will keep them informed on the status of the case as it progresses. This is essential for staying updated on any potential recovery opportunities.

Why Choose the Gross Law Firm?

The Gross Law Firm is nationally recognized for its dedication to class action litigation, specifically focusing on cases where investors have suffered losses due to deceitful practices and false information. The firm staunchly advocates for corporate accountability and is committed to protecting the rights of their clients against any unfair practices in the securities market.

Their mission is to ensure that companies engage in fair operations and adhere to responsible business practices, thereby restoring investor confidence. The firm maintains that previous results do not guarantee similar outcomes, emphasizing the importance of each case's unique circumstances.

For shareholders wishing to contact the Gross Law Firm for further information, they can be reached at their New York office:

• - Address: 15 West 38th Street, 12th Floor, New York, NY, 10018
• - Phone: (646) 453-8903
• - Email: info@grosslawfirm.com

This legal action represents a crucial opportunity for affected shareholders to reclaim their losses and hold Perpetua Resources accountable for the discrepancies in their financial reporting practices.

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